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After the 19th century, the organisation was named after the scholar Nikola Tesla, who founded the concepts of rotating electromagnetic fields. His discovery led to what is referred to as "alternating current," which is still prevalent in the contemporary world. Did you know? It was in opposition to the theory of “direct current” founded by Thomas Edison.
As we all know, Tesla had a huge impact on society in several areas such as sciences and electrical engineering. So, if you are stuck with your case study? Our experts can assist you with any query concerning your tesla case study answer.
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It is looked upon as one of the leading multinational organizations in the energy storage and automotive sector. "In 2018, the operating income of Tesla was US$-0.388 billion and the net income registered was US$−0.976 billion. The overall assets of the organization were US$29.740 billion and the total equity was US$4.923 billion. The organization has an employee strength of 45,000 as of 2018” (Tesla Inc, 2018).
It started with a motive to switch the car market from gas-powered to electric. Whereas other organisations did not succeed in it. Tesla continued working on its purpose to provide cars that are remarkably unique from its competitors and the company has achieved it. Now, there is a rapid increase in the involvement of Tesla in the global market today.
In the case of Tesla, the company tries to break the conventional ideology that energy-efficient means slow, charging dependent, and ugly. They followed an approach through the following steps:
Tesla has multiple ranges of components that focus on value creation among the customers. It is the sole organisation in the world providing products for storage, consumption, and production. "According to the annual report, the organization consists of a strong brand image and provides innovative technology features in software. The company also provides its consumers with an extensive range of battery life, which surpasses the rival companies" (Tesla, 2019).
Here are the forecasted opportunities jotted down by our expert concerning Tesla to spread their business:
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More than 50% of cooperative relations and tasks are created and performed between organizations in the same market, in which the organisations look at each other as competitors. “Such frequent and unique interfirm strategies in which competition and cooperation occur concurrently have often been the subject of diverse thought and opinions in the literature” (Cheong et al., 2016).
“Brandenburger and Nalebuff generalize coopetition as a complementary relationship between firms, illustrating that a supporting third firm can multiply the market share of competitors who are cooperating with them with examples of the success shared between computer manufacturers and software producers” (Cheong et al., 2016). Whereas, an organization-to-organization strategy in which competition is involved, is highlighted by Kock and Bengtsson. An organization would take care of complicated relationships with its competitors, which would change as per different phases. For instance, “about manufacturing, a step far from customers, firms would cooperate, whereas about sales strategies firms would compete for more interaction with customers” (Cheong et al., 2016)
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Cheong, T., Song, S. H., & Hu, C. (2016). Strategic Alliance with Competitors in the Electric Vehicle Market: Tesla Motor’s Case. Mathematical Problems in Engineering, 2016, 1–10.
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