Q1
Tesla Motors broke into the market in 2003 with a vision to “accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible” (Tesla, 2014). Their first mission was to design their first product which was going to be expensive no matter what it looked like; deciding upon building electric sports cars aimed at the wealthy market, in order to change the image of electrical cars.
Where their vision still stands, however the mission has changed, going from expensive sports cars for the wealthy to “compelling and affordable electric vehicles” in their first log piece about Tesla Motors. However this was “unfortunately almost entirely ignored”, but Tesla still aspires to attract the market to electric cars, with high quality standards and ground breaking technology.
Q2
Tesla’s Vision and mission statement states:
“Our vision is to create the most compelling car company of the 21st century, by driving the world’s transition to electric vehicles” (Tesla Motors, 2014)
“Our mission is not the safety of our vehicles, which can be easily replaced, but for the safety of our customers and the families they entrust our cars and to accelerate the world’s transition to electric mobility with a full range of increasingly affordable electric cars for all customers” (Tesla Motors, 2014)
The value of Tesla motors is to “create the most compelling car company” and well as “the safety of the customers and the families they entrust our cars” (Tesla Motors, 2014). This shows a clear message that the vision of the electric car company still stands, and aligns with their vision and mission statement; that is to create a compelling electrical car company that is safe and increasingly affordable to customers of all economic value, but still retaining that high quality manufacturing and ground breaking technology.
Q3
Strength:
- Good purpose in the development of electrical cars unlike BMW, who only wants to profit
- Good looking cars
- Getting better with age, able to update software rather than buying a whole new car
Weakness:
- Limited market
- Peoples negative views and opinions on electric cars
Opportunities:
- Market on environmentally friendly product is expanding
Threats:
- Multi-billion dollar companies move into the market to compete
Q4
Political:
With the selling cars in 17 countries of North America, Western Europe and Asia (Tesla, 2014), Tesla Motors has to deal with drastic political patterns influencing its business operations. One of the major political factors affecting the industry is environmental protection laws to induce production of more environmental cars to meet strict emissions levels (environmental protection.org.uk, 2014). The second important factor is US government energy loan programs for research and development of new vehicle technologies (Department of Energy, 2014). In this case, many auto manufacturers will be interested in entering the market.
Economic:
Economic factors include economic growth in the alternative energy industries and increase in the cost of sing the cars mainly due to the rise in fuel prices in the short period (BBC News, 2014). Therefore, the demand for more-efficient cars in higher than before; next the recovery of GDP and inflation rate in most of the developed countries from the recessionary period in 2008/2009 has a significant impact on the customers purchase power (World Bank, 2014).
Social:
Social factors are related to increase environmental concerns, attitudes and emphasis on products, which are “eco friendly”. Buyers are losing faith in gasoline furl and associated cost in production, trying to help the environment. Moreover, undoubtedly the current society judges’ people based on the type of the car they own (Autospies.com, 2008) and the idea of having electric vehicles improves the social status of an individual. Another social change is increase in ageing population with most wealth and savings, who would likely to spend money on premium electrical cars (Reuters, 2014)
Technological:
Technology advancement, rapid globalization and internet impact have a huge effect on the automotive industry. Over the last years, much technology advancement has taken places within the industry, including the introduction of fully electrical cars and computerization of cars that allowed automotive driving and prevent drivers from accidents (Haveit-eu.org, 2011). This leads to more variety and more improvements in safety and convenience of cars in the future. Moreover, B2B platforms and market places have also given increased opportunities to the car industry that in turn increased efficiencies and reduced costs.
Q5
Determine information requirements and undertake research and seek advice from experts to deliver relevant information
Q6
consider co-operative ventures that are supported by risk and cost-benefit analyses, are consistent with the organisational vision, mission and values and provide for due diligence
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