Analysis of Macro and Internal Environment of Tesla, Inc.

This report provides an analysis of the macro and internal environment of Tesla, Inc. including a PESTLE analysis, stakeholder analysis, and VRIO analysis. It also includes a critical analysis of the impact of the macro environment on the organization.

Business Strategy

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Analysis of the Macro Environment:.....................................................................................3
M1 Critical analysis of macro environment on the organization:...............................................7
TASK 2............................................................................................................................................7
P2 Analysis of internal environment of the organization:..........................................................7
TASK 3............................................................................................................................................9
P3. Evaluation of a given market by applying Porter's Five Force Model. ...............................9
TASK 4..........................................................................................................................................11
P4. Applying of theories, concepts, models to understand and interpret strategic directions
available to a company..............................................................................................................11
CONCLUSION..............................................................................................................................15
Reference.......................................................................................................................................16
Books & Journal............................................................................................................................16

INTRODUCTION
All the business organizations need to develop some plans and make some decisions that
help the specific organization in managing their daily transactions & activities and provide
guidelines, structures and procedures which have to be followed in order to achieve the
organizational objectives and attain the goals. A set or combination of all those plans and
decisions that have been made by the management is known as business strategy. An effective
business strategy can be considered as a backbone for an establishment as it provide a path to the
administration which headed them towards the desired goals and helps in securing a competitive
position within the market. A strong business plan and strategy is important for an enterprise as it
helps in converting the organizational weaknesses into the strengths, increasing the efficiency
and effectiveness of entire company, taking the advantages of competitive market and having a
control over the business activities.
The company have been chosen for preparing this report is Tesla, Inc. which is an
American automotive company situated in Palo Alto, California. This report will present an
analysis of external environment and its impact over the chosen organization. This report will
include SWOT analysis and for assessing the internal environment of the company and Porter's
Five Forces Model to evaluate the competitive positioning of the company into the market. At
the end of the report, it will give an effective strategic plan for the establishment.
TASK 1
P1 Analysis of the Macro Environment:
Organizational Overview: Tesla, Inc. which was formerly known as Tesla Motors, Inc.
was established in 2003 by Marc Tarpenning and Martin Eberhard in California, U.S. It is an
automotive and energy company which specialized in manufacturing of electric cars. The current
CEO and owner of the establishment, Elon Musk joined the organization in February, 2004. The
mission, vision and objectives of the organization is given below:
Mission: The mission statement of the Tesla was 'To accelerate the world's transition to
sustainable transport' which was replaced by Elon Musk in 2016 by ' To accelerate the world's
transition to sustainable energy'. The statement is enough to reflect the intentions of the company
to provide affordable energy resources and transport medium to the world by using advance
technology.
3

Vision: The vision statement of the selected establishment is 'To create the most
compelling car company of the 21st century by driving the world's transition to electric vehicles'.
This vision statement is showing the clear vision of the organization to provide renewable energy
resources to the world by providing electric vehicles into the markets.
Objectives: The primary objectives of Tesla, Inc. is to create demand and increase the
sales of electric cars in the marketplace, manage the reputation in the industry and build brand
image, and create loyalty in customers and increase customer base.
PESTLE Analysis: This is an assessment tool or method that help the researchers in
identifying and analysing some external environmental elements that may have huge influence
over the functions, activities, performance and profitability of an organization. Tesla, Inc. also
needs to conduct a PESTLE analysis so that it can understand the condition of the industry and
evaluate the impact of remote factors that determine the success of the business. A detailed
analysis of the company is presented below:
Political Factors: Political factors are the factors that are related to the governmental
entities and their impacts over the business. In relation to the Tesla, Inc. the political authorities
and conditions are in favour of the company such as stability in the political parties in the major
economies, the governments are providing incentives for electric automotive and new global
trade treaties are grate opportunities for the organization. The political stability is a good sign for
the intensive growth and competitive strategies of the company.
Positive impact – The import duty influences business operations of Tesla as there are
some countries to which products are exported and imported by this organisation. It affects the
company's management in negative manner.
Negative impact – There are some regulations that affects business operations of Tesla.
It faces is facing problem in low economic countries.
Economical Factors: These are the factors which are related to the financial and
economic condition and status of the market such as economic growth rate, inflation rate,
exchange rates, employment rate, etc. The global economy have faced a recession just a few
years back and currently it is trying to overcome hence the economic instability of the
international market is not good for the business of selected company but a slight decrease in
electric battery cost and renewable energy costs are providing growth opportunities to the
company.
4

Positive impact – Tesla is using diversification in selling it's products and its presence in
foreign market is helping to increase success of organisation.
Negative factors – Starting business in low economic countries costs a lot for the
company and profits cannot be earned in such countries.
Social Factors: Social factors are the current market trends and social conditions of the
economy that affect the performance of the business. For instance, population growth, age
distribution, personal beliefs and values, gender distribution, tradition, attitude and education
level of the population, etc. In context with the business of electric cars, social factors are
favourable as people are getting aware and demanding for low-carbon lifestyles and preferring
renewable energy resources.
Positive impact – Tesla is a well reputed company and it has various diversification of
products. This helps in increasing lot of customers worldwide. In this way, sales and profits can
be increased.
Negative impact – The disadvantage on Tesla because of social factor is that if it keep on
changing products and services offered to customers then there is disturbance of process and
business operations of the company.
Technological Factors: Technological factors are related to the changes and alteration in
technology. Frequent change in the technology and utilization of it into the firm, influence the
quality of production and efficiency of entire organization. In case of respective company, the
rate of technological changes into the industry is very high of which adaption is increasing the
cost of production for the Tesla, Inc. On the other hand, technology has improved the automation
in the business which is helpful in increasing efficiency and production.
Positive impact – This has impacted the business sales in a positive manner. Tesla uses
latest techniques for payments and selling of products.
Negative impact – Technological advancement requires a lot of investment and also
research and analysis is needed for installing latest techniques and trends.
Legal Factors: Such factors are related to the laws, legislations, rules and regulations
imposed into the industry. Legal system of the economy is liable to design the business
development and managerial decisions hence have huge impact over the organizations. In
context with Tesla, Inc. regulations related to the patent & copyrights and consumption of energy
5

are getting strict which will provide the protection from the competitors. On the other side,
dealership and sales rules are causing the issues for the company in increasing its sales volume.
Positive impact - A good image is formed by following all regulations and rules of the
country in which business operations are done.
Negative impact – Workers and employees of Tesla can take legal actions against
company if they feel discriminated at workplace. This will create down fall of image in front of
customers.
Environmental Factors: Ecological or environmental factors are the elements that are
related to the climate and climate change, availability of non-renewable natural resources, ozone-
friendly production, etc. The climate change of the various countries is favourable for the
selected company as the company can promote its electric vehicles concerned on weather
change. The battery-powered and electric vehicles are also helpful in keeping environment
pollution free which is a plus point for the organization (Pasquinelli, 2014).
Positive impact - Tesla adopts new techniques and process which do not harm
environment. It provides help in maintaining positive relation with business environment factors
like customers, suppliers, manufacturers, etc.
Negative impact – The installation of eco friendly techniques and processes requires a lot
of investment by the company.
Stakeholder Analysis
Stakeholders are those people who directly or indirectly affect actions of an organization. It is
very essential for every company that they are able to recognize the needs of various stakeholder
and take care of their need.
Stakeholder Influence on Tesla
Customers Most of customers of Tesla are very loyal, which means that with time
company has been successfully able to build up brand loyalty because
of the quality and variety which they offer in cars and it stayed unique
as well from other competitors in market.
Suppliers Tesla manufacturing company, which means it have to make
relationships with suppliers in order to sustain in the market for a
longer period of time. It has been analysed that Tesla is already having
6

effective relationships with their suppliers.
Governments Government of every country is one of most important stakeholders
which have to be taken care of by them. For Tesla also, they have to
adhere to all rules and laws which are formed by government of the
country where they are having their presence. From government point
also they try to support such companies as if they will be able to earn
high profits then it is also beneficial for them as higher profits lead to
high payment of tax which increases revenue for government. This also
helps in growth of economy of country.
shareholders Basically, these are the real investors for a business organisation like
Tesla. In present context, Tesla has already given hair benefits to their
shareholders, which made company to focus upon future goals with the
help of loyalty of their shareholders.
Employees Without, this type of stakeholders for the business organisation like
Tesla cannot sustain in the market more than a day. These are the real
performers who works for the business organisation and against it they
get monetary benefits from the company. Basically, Tesla has made
different range of policies to offer best health and safety environment
are there staff.
The different layers of business environment includes macro environment, industry,
competitors and the organisation. In context of Tesla, the analysis of macro environment will
help in knowing what are the different ways of expanding business and it also tells about success
of business expansion in different countries. It tells about different challenges and opportunities
that this company possess while expansion of market. Tesla develops strong and effective
strategies that help in achieving organisational goals and objectives. These strategies must be
more powerful than competitors.
M1 Critical analysis of macro environment on the organization:
The respective organization is improving its profitability over the time with the help of its
owner's clear and strong supervision. The company is also capable to penetrate the current
7

market and improve its operations into the international market. However, the business needs to
evolve its production, technology and strategies continuously as the trends shown in the PESTLE
analysis. The company has various opportunities for the development and growth of the business
for example, governmental incentives, free trade agreements and automations in the production.
The establishment is also recommended to take market based risk and plan strong competitive
strategies in order to survive in the industry and take competitive benefits.
TASK 2
P2 Analysis of internal environment of the organization:
VRIO analysis: strength along with weakness are said to be the two important elements
that are required for a company to concentrate on and for this Tesla has utilised VRIO analysis
framework. Considering this framework will help Tesla in looking at different range of elements
like reality, value, organisation and inimitable. These are said to be some crucial elements of this
framework and all of them has been described underneath:
 Valuable: Basically, there are four resources, which are valuable for Tesla in a way that
human resource TESLA will not able to execute its single function. Global presence
offers opportunity to company that they are able to reach large number of customers and
make aware about their products. Cost strategy is also a strength of TESLA which they
use to occupy a distinct position in market. Another strategy used by TESLA is
differentiation strategy where they are offering some different features such a company
provides a whole different experience to their customers in form of virtual reality and
this helps company in getting differentiation advantage.
 Rare: Global presence is not a rare concept as there are many competitors such as KIA
which is having global presence. Differentiation strategy is unique as no other Cars
brand is offering this unique feature to their customers. Cost strategy is also used by
TESLA in their products by offering them at affordable prices which no other brand can
offer. Human resource of TESLA is also a strength of this company as they believe in
having a trained and competent workforce. This is also a rare characteristic of
TESLA(Morton, Wilson and Cooke, 2015).
 Imitable: Global presence and human resource are something which can be seen to be
present in other companies similar to TESLA. Differentiation strategy and cost strategy
8

are two different features which are not possible to be copied by any other company
which is dealing in Cars.
 Organization: All resources have to be organized by the company to ensure smooth
functioning. Human resource, global presence and cost strategy resources which are
present in all companies, but TESLA should focus on its differentiation strategy. This is
the characteristic which has helped company in gaining a competitive advantage in
market.
M2 Critical analysis of internal environment
In present time, staff members are ascertained to be the most important resource of Tesla
as the workforce of this company is valuable, rare, inimitable and organised. Besides this, the
analysis also depicts that the company has been lacking in taking effective marketing initiatives
and devising strategic marketing plans so as to increase its scale of reach. Further, the immense
rivalry within retail sector owing to companies such as Toyota, BMW, Mercedes and so on pose
threat to sustainability of Tesla.
TASK 3
P3. Evaluation of a given market by applying Porter's Five Force Model.
Bargaining power of buyer: if it is talk about United kingdom, then people from the
nation can be considered as one of the important section for automotive industry. The economy
of this country is quite good. Therefore, it will be required by automotive industry to focus on
needs of customers any error kingdom data looking forward to purchase a new car which is
specifically electric. Basically, people from United kingdom looks forward to consider updated
technology as there in use with some innovations. Therefore, it can easily be said that bargaining
power of buyers is high enough because of the innovations that take place and the technology
which is carrying the proper changing nature. It will be required by automotive industry in which
Tesla is serving to targeted customers to keep on making modifications within their products in
order to sustain in the market with the right price (Milovanovic, 2015).
Bargaining power of supplier: basically, bargaining power of suppliers for automotive
industry is high in nature because of the number of automotive car manufacturers are are high in
numbers and it will be required by the company which is automotive industry to maintain good
and long term relationships that will help them in reducing this power. If there will be high
9

bargaining power then it can posses threat for company in terms of its reduced profit and
interruptions in their overall network of supply chain (Linn, Sanden and Piekkari, 2018).
Threats of new entrant:- It has been analysed that within the automotive industry where
Tesla is having a much more unique concept of selling electric cars to customers so that they
would effectively promote by their own mouth about the automotive industry's products that
what kind of features it is having and how different it is from other electric cars of various
automotive car manufacturers. Along with this, it is also having good image within the United
kingdom market which can be considered as one of the crucial reason all the possibility to stop
new companies enter the New market.
Threat of substitute:- This force is low for automotive industry where Tesla because it is
not an easy task to just develop an electronic car and sell it among people who are still using the
petrol and diesel engine based efficient cars. With the help of innovation and invention,
automotive industry has become irresistible among the market and continuously selling its
products in all over the world including United Kingdom (Lee, 2014).
Rivalry within market:- Over the years, automotive industry where number of companies
are performing like Holden, Lotus, Toyota and so on, where it has been given good rivalry to
other automotive manufacturers. This has helped them in raising good name in all over the
world. Including this, it is also said that electric cars is said to be something, which is fresh from
other engines. This has given high range of benefits for firm in maintaining the competitive
advantages.
Ans-off's growth vector matrix:-
This is being considered as one of the efficient tool that can be utilised by a business
organisation when it comes to develop a plan and regards to an effective strategy for
development for the near future. Under this, Tesla has also kept its focus on the same and utilised
Ansoff matrix, that carrying different range of strategies that can be used by buy different
departments of Tesla for proper functioning and to run business in a successful manner (Lee and
Smith, 201). Below four strategies considering the aspect of Tesla has been showed underneath:
Market Penetration:- While focusing upon Tesla, company good either focus upon
quality or prices of a product if utilizes this type of strategy for business expansion. In some of
the areas, organisation has taken into consideration of penetration strategy as thr design which
10

this brand is offering in its cars and affordability in terms of price had made it achieve a distinct
position in market (Rowlinson, Hassard and Decker, 2014) .
Market Development:- In context of Tesla company could effectively use this type of
strategy as to sustain within the market for a longer period of time and to enhance their profit
margins along with the customer base at international level. But it has been analysed that it is not
pretty much easy for a company to just enter into a whole new market it requires both a lot of
analysis research and the investment as well that could help them in entering the new market.
Product development:- this is said to be another crucial strategy with a company
basically introduces a whole new product in the existing market where it is already performing
range of existing products. Moto of this strategies to enhance the earning capacity of the business
organization so that desired goals or objectives can effectively be achieved in a short span. Since
the company is launching a whole new car with in the market then this is said to be the strategy
which Tesla is using in order to maintain it’s competitive advantages while giving rivalry to
rivals(Hoque, 2013).
Diversification:- A popular and effectivs strategy where, a whole new product is
introduced within the new market. Usually this is been considered as one of the strategy that
most of companies utilizes in order to plan for expansion. companies generally use when they are
planning to do expansion of their business to other countries. in the same way for Tesla also, it
will be required for the company to involve themselves in utilising this strategy whenever they
are willing to explore new customer segment and plus company have new products ideas with
them (Eason, 2014).
M3 Strategies to enhance competitive advantage and market position
According to the analysis, it can easily be analysed that marketing activities along with
plans of organization have not been a lot of viable to manufacturers that are dealing within the
Automotive industry. Basically, it is much more sufficient and associated with clients to have the
option to impact their buy behaviour. Tesla has the possibility to utilize social media and other
promotional campaigns for reaching to the staff members in all over the world.
11

TASK 4
P4. Applying of theories, concepts, models to understand and interpret strategic directions
available to a company
Generic model of porter: This model is consists with three main elements that could offer
direction to the company like Tesla to deal with present situation in market, when Tesla will be
willing to launch a new car they will be focussing on three generic strategies given by Porter and
these are given underneath:
Cost Leadership: Since, competition within electric manufacturing business
organisations of cars are increasing, Tesla has kept its focus on becoming one of the cost leader
considering different range of prices for a car through offering them with both economic and
luxurious features within the same electric car. It has held business organisation in sustaining
within the market through taking into consideration of cost leadership approach of generic model
(haserháti and Szabó, 2014).
Differentiation:- In present context, or in case of Tesla this brand always lays emphasis
that they are able to provide a distinguished feature to their customers within their cars that they
are offering to customers. What actually makes Tesla different from rivals is that it offers some
value added features as well for their customers. Basically, company has given premier services
to clients through giving them best experience both virtual reality where taken drive a Tesla at
there showroom in order to experience that how a car of Tesla works and runs.
Focus:- At present, Tesla has considered two different types of focus strategies one is
cost and the other one is differentiation focus strategy. Since Tesla is having a good name in the
market company uses its cars considering differentiation strategy through offering customers
with a little high range of cars in terms of monetary as they are offering the best quality electrical
cars in the whole world. Along with this, company has also kept its focus on smaller segments of
customers from all over the world which has raised ample number of opportunities for them
(Cacciolatti and Lee, 2016).
On the other hand if it is talked about the usage that Tesla does of the cost strategy then
this could effectively be understood with a good example where, company tries to decrease cost
of procurement of raw materials and other related cost associated with cost of their cars, they try
to minimize it so that they are bale to maintain their profit margin.
Resource based view
12

The resource based view is the way by which a company can use it's resources.
Generally, resources are of two types such as tangible and intangible. The tangible resources of
Tesla are factories, physical assets of the company, etc. On the other hand, intangible ones are
reputation and image of the company in market. Capabilities are a subset of resources that helps
firm to take full advantage of other resources. These include marketing skills and relationships.
There are basically following types of resources listed below - Financial – Tesla is having these resource in the form of money and retained earnings. Physical – This include plant and equipment and geographic location. Tesla is operating
in different countries and main headquarters are situated in America. Human – These consists of skills and abilities of individual. Employees working in Tesla
are skilled and talented and they have capability to attain organisational goals in given
time.
 Organisational – These includes reporting structures and relationships. Tesla is ensuring
that it is maintaining healthy relationship with customers.
Critically evaluating the strengths and weaknesses of the organization's internal
capabilities, structure and skill set
Tesla evaluates strength and weakness by doing VRIO analysis of the company. It is
concluded by VRIO of Tesla that it is having internal capabilities to expand business effectively.
It has well organised structure and managers collaboratively work for attaining organisational
goals and objectives.
Bowman’s extended model of strategy:
Low Price and Low Value Added (Position 1) : For a business organisation like Tesla, it
is said that this is particularly not an effective competitive position, because this is where cars
that has been developed by this company are not at all being differentiated and the customer
perceives very little value, despite a low price.
Low Price (Position 2) : Another crucial cost strategy, which can be adopted by business
organisations when it comes to minimising the expenses. This is majorly said to be the strategy
that stays associated with economy. If this strategy will be adopted, then it is may be possible
that profit margins on each car of Tesla will stay low, but the high volume of output can still
generate high overall profits.
13

Hybrid (Position 3) : In present position, Tesco could effectively sell it's cars that are of
low prices (relative to the competition), but it also carries some differentiation as well, for the
company.
Differentiation (Position 4) : In present context, high quality cars with strong brand
awareness of Tesla and loyalty is perhaps best-placed where positioning is being done
considering the relative prices and it also adds value as well.
Focused Differentiation (Position 5) : Under this position, Tesla could effectively adopt,
because it is offering customers with luxurious cars, that specifically aimed to attain premium
prices by highly targeted segmentation, promotion and distribution.
Risky High Margins (Position 6) : Considering this type of strategy, Tesla may basically
sets high prices without offering anything extra in terms of perceived value.
Monopoly Pricing (Position 7) : This is said to be a market, where there is only one
business offers the product to customers. This type of position for Tesla can be much more
effective in nature.
Loss of Market Share (Position 8) : Considering this as the middle-range where a product
with low perceived value is unlikely to win over many consumers who will have much better
options.
In present context, Tesla basically follows the focused differentiation, that is helping
them in sustaining within the market with high values.
Strategic Management Plan
A strategic plan is said to be a crucial element for a business organisation that could help
in attaining specific or innovative goals and objectives in a short span. In present context, for
Tesla strategic management plan has been built with the help of different range of things like
mission, vision, objectives, market research and so on. In Tesla this plan is also developed by
their top authorities as discussed below:
Mission: Mission of Tesla is to become one of the leading electronic car manufacturer in all
over the world true offering customers with both economic and sports version of quality cars.
Vision: “ To support environment through developing different range of electrical cars, which
gives high performance level”
Objectives: basically, Tesla is looking forward to to expand their business through building or
developing effective and efficient electrical cars for their customers that would not cause them
14

too much. Therefore, company’s objective is to enhance sales by 25% by manufacturing a whole
new car, which runs at the top speed of 220 kilometre per hour and client can effectively run the
car for approximately 500 kilometres in one charge (Burgess and Radnor, 2013). Market research: in present time, if it is talked about the market research which has been
taken into consideration by Tesla where the information that has been carried out was that
people are looking forward to to save the environment and for this ok, they are are
considering those products and services which not emits pollution. Tesla, has consider
this as a requirement or need for their customers and has given ample number of benefits
to them by developing electric cars that do not emits pollution at all. Here, it can easily be
said that the primal objective of enhancing profit margins is with the help of cars that are
not emitting pollution. Extensive marketing: Tesla has built an effective and efficient special marketing team so
the could effectively gain all the information in regards to what their rivals are serving to
customers, what strategies they have utilised are considered to attract customers and what
customers are looking forward to have as an innovation from companies.
 Tactics: To achieve set objectives of company, Tesla will be adopting two major tactics
one will be providing increased value to their customers and other will be ensuring more
technology up gradation. When both of these will be implemented then it will lead to
higher satisfaction of their customers.
M4 Strategic management plan
Since, Tesla is looking forward to develop electrical cars for their customers, where it has
built an effective management plan, as follows:-
Aim: To become leading electronic car manufacturer.
Vision: To save the environment through developing electrical cars.
Mission statement: To become leading electrical car manufacturer in all over the world
true offering customers with both economic and sports version of quality cars.
Goals and Objectives: Tesla Company’s objectives are to improvise sales with 25%
considering a whole new car, which runs at top speed of 220 kilometre per hour.
Strategies: Considering the, market penetration is said to be one of the approach, which
will aid in enhancing the sales along with the profitability at international market.
15

Tactics: Tesla, will effectively consider different tactics to attain goals and these are
providing increased value and ensuring more technology up gradation.
D1 Interpretation of data to conduct competitive analysis
Illustration 1:
The Tesla Model 3 Is Blowing Away The Competition, 2018
(Source: The Tesla Model 3 Is Blowing Away The Competition, 2018)
On the basis of above graph, information that has been given by CleanTechnica's Zachary
Shahan, shows that all the efforts has increased productions as satisfying and the organization
delivered in excess of 53,000 vehicles in Q1 2018, improvised its output contrasted with a
similar quarter in 2017. In a significant way, generation of the Model 3 (28,578) has passed and
joined production of the Model S and X (24,671) with complete satisfaction to clients adding up
to 40,740. The Model 3 is currently beating other small along with the medium sized automatise
manufactures and their vehicle models in the U.S., as indicated by an examination directed by
CONCLUSION
With the help of above mentioned report, it is being summarised that developing a much
more stronger and effective sort of strategy could help a business organisation in sustaining
within the market for a longer period of time. Along with this, before reaching to a conclusion in
order to develop a strategy, it is required for the company to focus upon different range of
available tools that could help them in analysing the market which are both internal and external
16

like Swot, Pestle, Porters five forces model and so on. On the other hand, VRIO can be
considered as the model which helps the company to look into all the benefits available that
could help them in enhancing profit margins. Including this, strategic plan are being developed
by business company in order to bring innovation within their products or services that has
already made their existence within the market.
17

Reference
Books & Journal
Aubry, M. and et. al., 2012. Organisational project management as a function within the
organisation. International Journal of Managing Projects in Business. 5(2). pp.180-194.
Burgess, N. and Radnor, Z., 2013. Evaluating Lean in healthcare. International journal of health
care quality assurance. 26(3). pp.220-235.
Cacciolatti, L. and Lee, S. H., 2016. Revisiting the relationship between marketing capabilities
and firm performance: The moderating role of market orientation, marketing strategy
and organisational power. Journal of Business Research. 69(12). pp.5597-5610.
Cserháti, G. and Szabó, L., 2014. The relationship between success criteria and success factors in
organisational event projects. International Journal of Project Management. 32(4).
pp.613-624.
Eason, K. D., 2014. Information technology and organisational change. CRC Press.
Hoque, K., 2013. Human resource management in the hotel industry: Strategy, innovation and
performance. Routledge.
Kohtamäki, M. and et. al., 2012. The role of personnel commitment to strategy implementation
and organisational learning within the relationship between strategic planning and
company performance. International Journal of Entrepreneurial Behavior & Research.
18(2). pp.159-178.
Lee, G. L. and Smith, C., 2018. Engineers and management: International comparisons.
Routledge.
Lee, W. L., 2014. Environmental uncertainty affects inter-organisational partner selection: The
mediating role of cost and strategy in alliance motivations among SMEs. Journal of
Management & Organization. 20(1). pp.38-55.
Linn, A., Sanden, G. R. and Piekkari, R., 2018. Language standardization in sociolinguistics and
international business: Theory and practice across the table. English in business and
commerce: Interactions and policies. pp.19-45.
Milovanovic, S., 2015. Balancing Differences and Similarities within The Global Economy:
Towards A Collaborative Business Strategy. Procedia economics and finance. 23.
pp.185-190.
Morton, J., Wilson, A. D. and Cooke, L., 2015. Collaboration and knowledge sharing in open
strategy initiatives.
Pasquinelli, C., 2014. Branding as urban collective strategy-making: The formation of
NewcastleGateshead’s organisational identity. Urban Studies. 51(4). pp.727-743.
Rasula, J., Vuksic, V. B. and Stemberger, M. I., 2012. The impact of knowledge management on
organisational performance. Economic and Business Review for Central and South-
Eastern Europe. 14(2). p.147.
Ritter, T. and Andersen, H., 2014. A relationship strategy perspective on relationship portfolios:
Linking customer profitability, commitment, and growth potential to relationship
strategy. Industrial Marketing Management. 43(6). pp.1005-1011.
Rowlinson, M., Hassard, J. and Decker, S., 2014. Research strategies for organizational history:
A dialogue between historical theory and organization theory. Academy of Management
Review. 39(3). pp.250-274.
Storey, D. J., 2016. Understanding the small business sector. Routledge.
18

Online
The Tesla Model 3 Is Blowing Away The Competition. 2018. [Online]. Available through :
<https://www.statista.com/chart/14921/the-tesla-model-3-is-blowing-away-the-
competition/>.
19