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Summary BBA4951.Unit 8 paper.docx BBA 4951 Tesla Inc. Strategic Management Final Paper Columbia Southern University BBA 4951, Business Policy and Strategy Introduction Tesla Motors, founded in 2003 by engineers Jeffrey Straubel, Elon Musk, and Marc Tarpe€7,33
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Summary BBA4951.Unit 8 paper.docx BBA 4951 Tesla Inc. Strategic Management Final Paper Columbia Southern University BBA 4951, Business Policy and Strategy Introduction Tesla Motors, founded in 2003 by engineers Jeffrey Straubel, Elon Musk, and Marc Tarpe
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BBA4951.Unit 8 BBA 4951 Tesla Inc. Strategic Management Final Paper Columbia Southern University BBA 4951, Business Policy and Strategy Introduction Tesla Motors, founded in 2003 by engineers Jeffrey Straubel, Elon Musk, and Marc Tarpenning, designs, develops, manufactures, and sells full...
bba4951unit 8 paperdocx bba 4951 tesla inc strategic management final paper columbia southern university bba 4951
business policy and strategy introduction tesla motors
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BBA 4951
Tesla Inc. Strategic Management Final Paper
Columbia Southern University
BBA 4951, Business Policy and Strategy
Introduction
Tesla Motors, founded in 2003 by engineers Jeffrey Straubel, Elon Musk, and Marc
Tarpenning, designs, develops, manufactures, and sells fully electric vehicles and advanced
powertrain components (David & David, 2017). Tesla mission statement is “to accelerate the
world’s transition to sustainable energy” (Tesla, n.d.). Its vision statement is “to create the most
compelling car company of the 21st century by driving the world’s transition to electric vehicles”
(Rowland, 2018). According to Elon Musk (2006), one of Tesla’s long-term plans is to build a
wide range of electric vehicles including affordably priced family cars in order to help accelerate
the move from a hydrocarbon economy to a solar electric economy. Tesla's first car, the
Roadster, price point was over $100,000 and Tesla used the money from this vehicle and its later
vehicles
to bring down the price point of electric vehicles. Tesla now produces and sells several electric
vehicles including the Model S, Model 3, Model X, and Model Y. The Model 3 has a
beginning price point of just over $40,000. In addition to electric vehicles and advanced
powertrain components, Tesla also sales solar products including solar roofs and solar panels.
Internal and External Issues
Tesla Motors, Inc. has several internal strengths including being a leading automotive
company on some of the best electric vehicles. Tesla Motors, Inc. delivered and sold over
367,500 vehicles in 2019 including the best three spots in terms of range with the Model S at the
top, traveling over 370 miles on a single charge (Gupta, 2020). Tesla Motors was named by
Forbes in 2019 as one of the top employers (Gupta, 2020) and is 3rd most innovative companies
in the world (Fox, 2020).
, Tesla Motors, Inc., however, does possess several internal weaknesses. There are
numerous manufacturing and production delays at Tesla Motors, Inc. on the launch on new
products because of their high innovation (Gupta, 2020). Their delivery rate is also an issue,
dropping in the first quarter of 2019 to 31% from its last quarter in 2018 (Gupta, 2020).
Regarding their production, Tesla has failed to produce any high levels of its electric vehicles for
any of its models with their main issue in the rate of production being its limited supply of
batteries. This shortage directly affected the sales of their electric vehicles and energy storage
systems (Gupta, 2020). Finally, a significant internal issue at Tesla Motors, Inc is the CEO
himself, Elon Musk as the sole representation. Tesla Motors, Inc. has a functional organization
structure with Elon Musk as its CEO (David & David, 2017). This structure often leads to poor
communication and lack of understanding across departments. In addition, Elon Musk is known
as a as a perfectionist and a one-man show who is reluctant to delegate or relinquish control even
though he splits his time among his other company, Space Exploration Technologies and the
Boring Company (Gupta, 2020).
Tesla Motors, Inc. does have several external opportunities it can take advantage of. It
can expand into the untapped markets of Asian with its unsaturated field of automotive and
renewable energy markets (Gupta, 2020). It can take advantage of the rising demand for electric
vehicles which is expected to grow above $567 billion in 2025 and continue to decrease the price
of its electric vehicles, which continue to be expensive compared to fuel vehicles. Tesla Motors
Inc. should take advantage of its strong consumer confidence, having had two consecutive
profitable quarters and the stock market has responded with the price of Tesla stock doubling
(Gupta, 2020). Finally, one of Tesla’s Motors Inc. biggest opportunities is its intent to make its
own lithium-ion battery calls. Batteries are the reason why their products are still so expensive to
the public. By bringing the production in-house, Tesla can increase its manufacturing rate while
decreasing its production cost (Gupta, 2020).
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