Grand Canyon University: BUS-485
Future prospects of Green Cars-Tesla
Executive Summary (write this last per instructions)
Overview There are over 240 million cars and light trucks on the road today, consuming 8 million barrels of oil per day. Each gallon of gasoline we burn produces about 25 pounds of carbon dioxide (According to the report NRDC) – the most common global warming pollution that poisons the atmosphere when mankind enters the 21st century. To be sustainable development of modern world, unity of economic, environmental and social objectives and the linkages between these areas is producing oil free electric cars, plug-in hybrids, and other advanced technology vehicles that use far less oil or no oil at all. Elon Musk CEO, A Canadian-American entrepreneur, engineer, inventor and investor who products architect of Tesla Motors. The EV
(Electric Vehicle) is battery charging system that is the most challenge issue related to the future development of EV. Therefore, innovation in EV’s Tesla main tasks and missions to achieve firm’s future goals. It is extremely difficulty to keep innovation in a long-run for any type of success companies as well as in Tesla Motors. It is important not only to be able to have new ideas but to be able to take advantage of these ideas commercially. (Rothaermel, 2010). Tesla abides by a clear vision which separate innovation strategies they are going to pursue and how they are going to combine the different innovation strategies to ultimately achieve. The vision statement articulates firm ambitious goal that is to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.
In order to achieve the firm’s vision, a foundation for the firm’s mission is set up specification to intend competency and service in Tesla Motors. The mission of Tesla sets not the safety of our vehicles, which can be easily replaced, but for the safety of our customers and the families they entrust to our cars. According the safety report today, the Model S track record so far, have a zero percent chance of being hurt in an accident resulting in a battery fire, Despite multiple high- speed accidents, there have been no deaths or serious injuries in a Model S of any kind ever. That makes Elon Musk (CEO) and firm all employees extremely proud of this achievement. It is literally impossible for another car to have a better safety track record, as it would have to possess mystical powers of healing under how innovation technology affects economically growth strategies in Tesla Motors. As mentioned above safest car is one of competitive advantage from Tesla Motors.
According to National Highway Traffic Safety Administration, Tesla S model the rave reviews from the Automotive Press and the recent outstanding safety rating. In addition, Tesla has multiple revenue streams coming from the EV business besides they are making money off of their cars. The solar energy is from their supercharging stations that they put back in the grid.
On the other hand, Elon Musk and his term members’ utilities a differential strategy from top down with the other competitors since much more difficult because the prices are going to be very competitive, and margins will be much smaller, and to build an attractiveness in higher classes eyeball in the auto markets. Although, Tesla has built only a few thousand cars during its short lifetime, but it has already become a big deal. It is Model S sedan. Under the continuous improvement of environment eco-minded, people pursue higher quality green cars like Tesla that is a must. The green energy saving motor trends continuously increasable in today’s market, as a credible competitor in a business with enormous barriers to entry is arguably an even bigger achievement. However, the business opportunity and challenge are coexisting.