Build Your Dreams: Theories and Techniques in Generating Value (Essay Sample)

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QSO 300 Final Project Milestone One Case Study on BYD
BYD (Build Your Dreams) of China began by producing cheap, high-quality batteries in 1995. Batteries were previously accessible, though they were low quality and overpriced. Wang Chuan-Fu, the firm`s inventor would research the devices from Japan because they were of good quality and attempt to discover ways to achieve the same quality at a cheaper rate. Wang's enthusiasm for batteries led to the hybrid and electric global automobile industry. BYD is seeking to exploit its expertise in the manufacturing of batteries to mass-produce affordable electric automobiles.
GENERATING VALUE
A. Use of operations management functions. BYD joined the market as a battery producer, and they learnt how to build and sell their products at a lesser rate than their competition while still offering a high-quality product. Their primary source of revenue was from mobile phones, parts and cells in which they exploited the concept and the manufacture of lithium-ion batteries. The company subsequently moved to the car sector, where it researched the market while grasping the demands and wishes of potential clients. Entering the car business, they opted to center on the electric vehicle since the technical breakthroughs they had achieved in the battery industry. BYD seems to take initiatives ahead of other firms in the sector. They are utilizing a cost innovation method that the Japanese employed in their cells and duplicating them in their goods. They have reached