Strategy Development at Tesla Motors
The hybrid and all-electric vehicle market is growing rapidly, and some industry analysts suggest that the future of personal transportation is in the hands of these manufacturers. One company that is in the vanguard of this industry is Tesla Motors, named for famed inventor Nikolai Tesla. The purpose of this capstone project is to provide an industry analysis to develop a strategy for the CEO of Tesla Motors to help shape the company's future.
Review and Analysis
Define strategy and examine how the definition of strategy fits Tesla Motors and its situation
Although a number of different definitions have been advanced over the years, a useful definition in an organization context states that “strategy determines the direction and scope of an organization over the long term, and it should determine how resources should be configured to meet the needs of markets and stakeholders” (Three levels of strategy, 2018, para. 4). Applied to Tesla Motors (hereinafter alternatively “Tesla” or “the company”), this definition of strategy refers to the manner in which the company intends to achieve its corporate objectives over the short- and long-term and how it will allocate the organizational resources needed for these purposes. This definition is also congruent with the strategic approach that the company has used over the past decade as discussed further below.
Summary of the main strategies that Tesla's management took leading up to this company's recent development
Since the company’s founding in 2008, Tesla has used a luxury marketing strategy that has focused on the most affluent consumers who are interested in cutting-edge technologies that have the potential to replace fossil fuels. In this regard, Uggla (2016) reports that, “In general, a luxury brand has a deeper and richer extended brand identity as compared to more mundane brands. It also has a more subtle brand personality and stronger brand credibility and brand integrity” (p. 35). Although the company has most recently...
ZAP and the Electric Vehicle Industry Executive Report This report will be discussing several relevant aspects related to ZAP and to the electric vehicles industry. After a brief introduction, I will proceed to discuss in detail an analysis on the current situation at ZAP and in the industry. I will be including here a SWOT analysis, a competition analysis based on Porter's five forces model and an extensive analysis of the external environment,
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