The vision of Tesla is ‘to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles’. Based on the mission and vision, the company’s strategy was determined. Tesla’s strategy is to enter at the high end of the market, where customers are prepared to pay a premium, and then drive down market as fast as possible to higher unit volume and lower prices with each successive model. (Musk,
His major accomplishments in the business world started with the founding of Zip2, which he later sold for $305 million USD in 1999. Elon Musk's second internet startup was an email payment and financial services company, X.com, which was later renamed PayPal in 2001. In 2002, PayPal was acquired by eBay for $1.5 billion USD. Elon Musk received $165 million USD of it.
Abstract Employee engagement is a huge umbrella covering every aspect of human resource management facets. It is vital to address every facet of HR, failing to which may result in mismanagement employee dissatisfaction & employee disengagement. Employee engagement is all about retaining the employees in the organization by adopting certain strategies resulting in job satisfaction, employee commitment and Organizational citizenship behavior. Employee engagement have broader scope, it defines a two way relationship between employer & employee. Better the employee engagement activities & strategies adopted by the organization more emotionally attached are the employees to their organization, resulting into high involvement in the job with greater
The California-based automotive company manufactures and sells nearly zero-emissions cars, that cause less hurt to the surroundings than gas-powered vehicles, thereby creating it a "socially responsible" company. Tesla's chief Elon Musk, started the energy unit maker with one goal in mind to assist finish the world's dependence on oil. Moreover, Musk says the "overarching purpose" of Tesla Motors is "to facilitate expedite the move from a mine-and-burn organic compound economy toward a star electrical economy, that he feel to be the first, however not exclusive. That's beyond any doubt a noble and socially
Therefore, Tesla needs to train the marketing team into an attempt and adopt a proactive or innovative marketing strategy. This will increase the competitiveness of Tesla and rapidly increase the market share. Solution of Culture Barriers Tesla 's marketing manager needs to understand the local market environment before Tesla enters new markets. For example, make, a, proposal, and collection of local data. Managers should follow the local environment and local preferences and other information to make a proposal.
In recent years, the automotive industry has seen a dichotomy of innovations – particularly in relation to electric vehicles. For example, Tesla and GEM have each introduced new and distinct electric vehicles aimed at different “jobs to be done.” Tesla Motors (“Tesla”) is an American electric-automobile manufacturer. It was founded in 2003 by American entrepreneurs Martin Eberhard and Marc Tarpenning and was named after Serbian American inventor Nikola Tesla. Tesla was formed to develop an electric sports car. Funding for the company was obtained from a variety of sources, most notably PayPal co-founder Elon Musk, who contributed more than $30 million to the new venture and served as chairman of the company, beginning in 2004.
This is a complete shift from the policy adopted by company in safeguarding and patenting its technical know-how for competitive advantage. As per the company, to advance its objective of providing sustainable transport, it is best suited to open up its know-how to other manufacturers so that massive adoption of electric vehicles as a substitute for gasoline powered vehicles takes place. The company hopes that it will create a fast growing and bigger market for electric vehicles, thorough which Tesla Motors will also eventually benefit. The company also believes that technology leadership is not defined by patents, but its ability to attract the most talented engineers.  Competitor Analysis Tesla Motor is simply the leader in the product range of Electric Vehicle.
It is about evaluating the company’s planned actions by considering the impact of day-to-day tactical decisions and longer-term strategies on the organization’s stakeholders. (Chandler, 2013) For Tesla, this might be very useful because CSR is very important for its stakeholders. As corporate social responsibility is one of the points where Tesla distinguishes itself from other car manufacturers, the company should ensure that decisions are in line with its corporate social responsibility
China, especially, represents a major challenge for Tesla. Ever since Tesla announced its ambitions or move to go East, more and more Asian governments and countries have gotten serious about electric vehicles, even developing their own local industries to thrive against foreign threat. “Some observers scoffed at Elon Musk's recent plans to integrate EVs, solar energy and battery storage. In fact, this is already happening in China” (Gupta,
4.Describe the major trends and forces that are changing the automobile marketing landscape and how Tesla is taking advantage and/or trendsetting in the automobile industry. Safety Becomes More Important: Safety plays a major role in the automobile industry with vehicle manufacturers constantly making improvements to avoid and lessen damage from collision. Automobile industry is also trying to improve braking systems, stability and lighting. They are also concentrating on environmental safety. Tesla is manufacturing environmental friendly car also takes care of safety by using air bags, antilock brakes, and seat belt pretensions.