Part 3- Implement a comprehensive SPACE Analysis to evaluate Dyson’s decision of entering the electric car industry.
a. For each SPACE dimension, search for quantitative or qualitative data (external resources) to come up with ratings for relevant factors. For each dimension, you should discuss and rate at least three factors. Mention your thought behind the rating and source of data. Explain your reasons for the rating (to better do that you can compare Dyson’s to one of its closest competitors or the industry’s average). If you cannot find any resource for such data, use your subjective opinion but provide reasoning. For financial terms, you can find the exact numbers of the firm’s financial performance. In this particular case, exit barriers (related to FS) and market entry ability (related to IS) are very critical.
b. Show the rating for each dimension, which would be a simple average of ratings of factors you considered for that dimension.
c. Plot the SPACE matrix and show the strategic posture of Dyson.
d. Clarify the quadrant (the strategic position) of Dyson.
e. Describe the situation in that quadrant. Propose strategies for that situation. Be specific about the details of your strategy and provide examples as many as you can. Conclude on:
How Dyson’s competitive advantages are compared to the electric car industry’s attractiveness.
How Dyson’s financial strength is compared to the electric car industry’s stability.