Tesla Motors
Strategy development: Tesla Motors’ strategy is defined as a long-term plan that can be created for the Company to enable it to reach the desired and future state that has been envisioned. It includes the Company’s goals and objectives, the type of products, clients, and markets that the Company would have to serve to realize profits. The strategies involved keeping the founder as the leader, using a more robust feedback mechanism to improve customer outreach, and increasing the customer base.
Innovation and competitive analysis: Tesla Motors is famous for its dominant position in the market that mainly results from an innovative approach. This paper presents the SWOT analysis to indicate the Company’s competitiveness in the industry. Its strengths include being a top employer and the leading automotive company in the sector.
Weaknesses include manufacturing complications and the inability to market demand. Tesla’s opportunities are sales expansion in Asia, production of less expensive cars, and production of battery cells. Threats include product liability claims, long-term defects, product threats, customer adaption, and self-drive cars being a major concern for pedestrians and insurance companies.
Exploiting innovations: The entry of electric vehicles into the market remains one of the innovative technologies in the industry. The sale of the cars is on the rise since experts term them as environmentally friendly. The use of self-driving cars is another significant innovation in the industry. Innovation increases the chances of survival of Tesla in the industry.
Tesla Motors’ response to change: Tesla failed in the past after experiencing poor financial performance despite successfully introducing solar panels and electric cars. The Company recovered and currently has its stocks with extremely high values.