Tesla Motors, Inc deals with designing, manufacturing and selling of automobile items such as electric cars, batteries and train products. It is a public company listed in NASDAQ securities exchange and has enjoyed record profits in the recent times. It currently has received global attention for its innovation approach to remain competitive. It is the company that pioneered electric cars purposely for sporting events.
The innovation approach has placed them at a very favorable position amongst the consumers of its products. They project to make record sales of the electric sporting car by end of 2015 as well as in the next five years. Toyota and Daimler are their major consumers of the …show more content…
The company faces stiff competition from Chevrolet, Toyota, Honda and smart car. This has forced them to be highly innovative to remain profitable in the industry. The current business model is not and will not offer solutions needed in the production and selling of the Tesla products. Their needs to be a strategically minded business model because to some extent it determines the success or failure of an organization. The reluctance to be the pioneers in implementation the affordable prices may make them face the threat of losing its market share to their competitors. The application of an already outdated technology means more budgetary …show more content…
For the company to strategically progress it must revise their mission since a lot has changed in the industry in that time span. Technological wise we have seen a lot of developments that may make the mission look like just another statement in a sentence form.
I recommend that the business model be revised in order to accommodate the changes the industry has undergone. This will help tesla to increase its level of profitability and receive great approval ratings among its consumers.
Tesla should use an innovative business model that embraces modern technology and allows sharing of information. This ought to be done by a well trained employees supervised by an experienced management.