BSBINN502
Assessment Task 1
Part 1A
Research Report on an Innovation System
1.1 The Profile of Elon Musk
Elon Musk is the CEO and CTO of SpaceX, CEO, Chief Product Architect of Tesla Motors, Chairman of SolarCity, and Co-founder of PayPal. Musk is also involved in developing a high-speed transportation system known as Hyperloop. Elon Musk invests in the projects which can positively change our world. He is not only an entrepreneur but also an inventor, an innovator, and an engineer. Musk personally participates in designing of electric cars and spaceships. Elon Musk was the second entrepreneur in the Silicon Valley (the first one was James H. Clark) who managed to create three companies with the market cap of more than $1 billion – PayPal, …show more content…
Some management failures led to the fact that the actual selling price of the electric vehicle was almost twice as high as originally implicit price. In addition, a strategic miscalculation was made his concept of transmission for Tesla Roadster proved to be ineffective and the release of the car had to be postponed for more than a year. During the crisis, Elon Musk continued strongly cutting costs effectively, reducing staff, demanding lower prices from suppliers, closing some of the offices. Elon Musk believes that the world has become dependent on oil. This dependence leads to climate change and permanent geopolitical tensions. A refusal of internal combustion engines in favor of electric motors can make a difference. Therefore, Tesla Motors is not a mere business for Musk.
The basis of organization has always been to achieve the best outcomes of the resources available at current conditions. In a global context of uncertainty, growing competition and transformation pressure, organizations have to make stronger their adaptability as well as their capacity to handle the external conditions. This implies utilizing knowledge and creativity within the new generation of organizational …show more content…
Such innovations may create new markets and deliver excess and derived demands. This means that product or service innovation, if successful at the market, support derived labor demand and employment growth at organizational level.
http://www.meadow-project.eu/doc/users/307/bib/organizational-dynamics-and-innovation-capabilities-in-denmarkpdf_3468.pdf
1.4 Innovation Principles
Design with the User
It is always better to develop framework fitting solutions as per the user needs. For that it is vital to include all user groups in planning, development, implementation and assessment. It is important to design solutions that learn from and improve current workflows and plan for organizational variations. And also the innovation solutions are ensured to be sensitive to, and useful for, the most marginalized populations.
Understand the Existing Ecosystem
It is better to participate in networks and societies of well-matched expertise line up with existing technological, legal, and regulatory policies.
Build for
Assessment Task 1
Part 1A
Research Report on an Innovation System
1.1 The Profile of Elon Musk
Elon Musk is the CEO and CTO of SpaceX, CEO, Chief Product Architect of Tesla Motors, Chairman of SolarCity, and Co-founder of PayPal. Musk is also involved in developing a high-speed transportation system known as Hyperloop. Elon Musk invests in the projects which can positively change our world. He is not only an entrepreneur but also an inventor, an innovator, and an engineer. Musk personally participates in designing of electric cars and spaceships. Elon Musk was the second entrepreneur in the Silicon Valley (the first one was James H. Clark) who managed to create three companies with the market cap of more than $1 billion – PayPal, …show more content…
Some management failures led to the fact that the actual selling price of the electric vehicle was almost twice as high as originally implicit price. In addition, a strategic miscalculation was made his concept of transmission for Tesla Roadster proved to be ineffective and the release of the car had to be postponed for more than a year. During the crisis, Elon Musk continued strongly cutting costs effectively, reducing staff, demanding lower prices from suppliers, closing some of the offices. Elon Musk believes that the world has become dependent on oil. This dependence leads to climate change and permanent geopolitical tensions. A refusal of internal combustion engines in favor of electric motors can make a difference. Therefore, Tesla Motors is not a mere business for Musk.
The basis of organization has always been to achieve the best outcomes of the resources available at current conditions. In a global context of uncertainty, growing competition and transformation pressure, organizations have to make stronger their adaptability as well as their capacity to handle the external conditions. This implies utilizing knowledge and creativity within the new generation of organizational …show more content…
Such innovations may create new markets and deliver excess and derived demands. This means that product or service innovation, if successful at the market, support derived labor demand and employment growth at organizational level.
http://www.meadow-project.eu/doc/users/307/bib/organizational-dynamics-and-innovation-capabilities-in-denmarkpdf_3468.pdf
1.4 Innovation Principles
Design with the User
It is always better to develop framework fitting solutions as per the user needs. For that it is vital to include all user groups in planning, development, implementation and assessment. It is important to design solutions that learn from and improve current workflows and plan for organizational variations. And also the innovation solutions are ensured to be sensitive to, and useful for, the most marginalized populations.
Understand the Existing Ecosystem
It is better to participate in networks and societies of well-matched expertise line up with existing technological, legal, and regulatory policies.
Build for