Management 2

Yonghui Liao

MGMT 4890

9/19/2020

Tesla Inc. is the largest electric vehicle and solar panel company in the U.S., producing and selling electric vehicles, solar panels, and energy storage equipment. Elon Musk is the CEO and unquestionably the primary driving force at Tesla Motors. According to the Wall Street Journal reports, Tesla has emerged as an ideal company for employees because of its diversity and innovation-encouraging culture. Tesla’s vision statement is to accelerate the world’s transition to sustainable energy. In addition, Tesla’s mission statement is that the world stops relying on fossil fuels and move towards a zero-emission future. Tesla has a few competitors in the traditional car market, such as Ford, Honda, and Porsche. However, Tesla focuses on high status and premium electric vehicles. According to the graph of the Statista of Tesla’s annual vehicle deliveries from 2012, the sales of Tesla has dramatically increased in 2018 and 2019. On the other hand, in 2020, Tesla received 200,000 preorders for the new vehicle. Comparing to Ford-150 which is the world’s best-selling car in 2018, which sold just over 1 million vehicles that year. Tesla’s success is not because they did well in any aspect. It is because Tesla’s CEO, Elon Musk, and his team focus on their advantage of innovation. That is Tesla’s strategic management. Elon Musk develops and implements a vision, that is an organizational goal that evokes powerful and compelling mental images. Also, they complete the missions’ step by step.

Citation

Business Strategy Hub, Tesla SWOT Analysis (2020), (March 22, 2020). Retrieved from https://bstrategyhub.com/tesla-swot-analysis/

Nathan Furr and Jeff Dyer, Harvard Business Review, (February 12, 2020). Restrict from https://hbr.org/2020/02/lessons-from-teslas-approach-to-innovation