Part 1: Define the Current Industry For this part of the
project, you will focus on defining and describing the automotive manufacturing
industry. This is the industry that currently buys the motors your company
builds.
You will begin by
defining the problem that your company is trying to solve through
diversification. Then you will use research to provide a broad overview of the
U.S. automotive industry and describe the current trends in the automotive
market.
Part 2: Research
the New Industry
For the next part of
the project, you will focus on describing and analyzing the industry that you
believe provides an opportunity for diversifying your company. This is the new
industry that could potentially buy motors from your company.
Using your research,
you will provide a broad description of the new industry you’ve identified,
summarize its current trends, and then conduct a Porter’s Five Forces analysis
of it.
Part 3:
Compare the Two Industries
For the final part of the
project, you will focus on comparing the new industry you’ve identified for
diversification with the current one, the automotive manufacturing industry. To
do this comparison, you will use the Porter’s Five Forces framework to analyze
the automotive industry. Then you will compare the two industries and summarize
your findings.
Now that you have a
better understanding of what you need to do for your project, you’re ready to
get started! On the next page, you’ll define the problem you are trying to solve
through diversification, conduct research on the automotive industry, and
provide a broad description of the automotive industry.