Tesla Executive Summary: Capstone Project on Strategy & Innovation

Tesla is a major competitor in the automotive sector as it primarily facilitates production of electric vehicles. Production of electric cars boosts the organization’s global standing as utilize clean energy. The organization’s success in the competitive automobile industry is based on its ability to innovate and facilitate environmental sustainability (Pantano, 2014). The products are also in line with the current global demand relating to pollution therefore offering a competitive edge compared to its top competitors; General Motors and Nissan.

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         Tesla enjoys several strengths in the market including being recognized as top employer, being the most valuable automotive company, produces best in-class electric cars, doubles production every year, innovative, and effective marketing strategies (Fainshmitd, 2016). The main weakness the organization faces include manufacturing complications, inability to meet demand, employees safety concern, high dependence on Elon Musk, financial uncertainties, and increased number of legal issues.

There are strategies necessary to exploit the organization’s innovations. Firstly, the organization has to implement broad differentiation of its products (Konsolas, 2017). The automotive industry is highly competitive therefore, developing unique products allows the organization to take advantage of its innovations. The organization can also invest in reducing its cost of production which minimizes operation risks. This can be done by reducing inventory by batch production after prepaid orders have been obtained.

The best strategy that the organization can employ is implementing broad differentiation. To implement the strategy the organization must allow for free flow of information (Markusen, 2014). Thus, Tesla’s governing authorities must include their staff members in the company’s decision-making processes more regularly and comprehensively.

References

Eleonora Pantano. 2014. Innovation drivers in the retail industry. p. 344-350. International Journal of Information Management.

Ioannis Konsolas. 2017. The competitive advantage of Greece: An application of Porter’s diamond.

James Markusen. 2014. Outsourcing versus vertical integration: Ethier–Markusen meets the property-rights approach. p. 75-90. https://doi.org/10.1111/ijet.12028.

Stav Fainshmitd. 2016. National Competitiveness and Porter’s Diamond Model: The Role of MNE Penetration and Governance Quality. p. 81-104. https://onlinelibrary.wiley.com/doi/10.1002/gsj.1116.