The first step for the company to take is to ensure that all costs that leave the company’s bank account are well-reviewed (McCain, 2019). Those expenses include salary, travel expenses rent, and other finances that goes to technology development.
To ensure these problems are addressed well, the company has come up with real-time finance reporting that organizes transactions to make them clear for managers to understand.
Tesla will have to make cuts on expenses by reducing full-time employees while retaining the most critical contractors. Design improvements are also vital, but research should be done first to find essential ways on how to reduce costs.Write My Term Paper.The company will have to buy some parts cheaper and quickly make them while reducing labor (McCain, 2019).College Essay Help.
The company is looking for ways to lower cars cost of production without affecting the quality of the car. The part of designBuy Assignment.changes may take some months to be accomplished because the management has to come up with strategies on how to achieve it.
For instance, the company will have to get the right tools for the job. This strategy will ensure that theCheap Essay Writing Services.cost will be cut. The company could use cheaper materials to build future cars to reduce costs. For example, propylene could be used instead of nylon, and vegan leather could be replaced with a cloth or natural leather (Kauerhof, 2017).
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