Innovation and Enterprise: The Role of Innovation in Tesla

This report explores the role of innovation in Tesla, an electric vehicles and clean energy company, and discusses various innovation theories and strategies. It also provides a critical analysis of Tesla's products and services and offers recommendations for further innovation.

Innovation and Enterprise

Table of Contents
Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 2............................................................................................................................................1
Describe about innovation theories which generate ideas process and product or service to
develop........................................................................................................................................1
1. Overview of Company:...........................................................................................................1
Task 3...............................................................................................................................................3
Illustrate proposal of an innovative product, price service for working organisation and
produce suitable plan..................................................................................................................3
2. Relevant literature associated with the topic...........................................................................3
3. Critically analysis of the product services or process.............................................................5
4. Recommendation with Justification. ......................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Innovation is term of creation, development and implement about new product and
services which is having aim of developing efficiency and effectiveness competitive advantages.
In the process in which product, practises where combination which enhance within current
market place to allows new creative product and services. Enterprise is artificial body which
engage within business or company perspective (Caloffi and Mariani, 2018). In this report, the
organisation is consider Tesla, an electric vehicles and clean energy in Palo, Alto, California.
Tesla is majorly deals current product include electrical cars, battery energy storage from grid
scale and solar panel with related product and services (Drobyazko, and et. al, 2019). The
revenue is generates up to $31.536 billions in year of 2020. The topics are covering about
specific product, service with highights strength as short coming through innovation.
MAIN BODY
TASK 2.
Describe about innovation theories which generate ideas process and product or service to
develop.
1. Overview of Company:
Tesla is one of innovative company as it based on electric vehicles and clean energy
company, they majorly deals to manufacture solar panel, electric cars type product and services.
In 2021, Tesla becomes a world's top bets selling cars in automotive industry where electric
product are fantasised by people as per their requirement (Hnatenko and et. al, 2020). Tesla is
also one of largest global suppliers battery energy system with Gwh to supplied in 2020.
Theories of Innovation.
The term innovation management is a diverse topic with many different layers and
dimension. There are some theories of innovation where it classify about types of innovative
aspects to clear out for Tesla company context:
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 Disruptive vs Sustainability innovation: According to this concept it refers about
product and services that creates some sort of value or network. They majorly focuses to
convert to move from existing to new market. Disruptive innovation is generally depicts
to provide low scale performances while enhance good enough to satisfy customer to
better appeal different market instead (Kijkasiwat and Phuensane., 2020). For example.
Radio transition is innovate concept which enhance low performance and worse quality
compared to large existing ones. Sustaining innovation is refers about kind of innovation
which having presence in present competitive automotive market and creating new values
networks for rather improves to develop in previous ones.
 Radical vs Incremental Innovation: It refers about new technology where completely
disrupts that existing business or economy and forms better business model. In other term
Incremental innovation depicts about to create better series of small gradually to better
built improvement towards existing product and process to monitor competitive position
in certain period of time (Chae and et. al., 2020). This theory of innovation is most cost
effective for better implement. Innovation Matrix: To define the mentioned dimension and to better demonstrate where
four term are combined to highlight innovation Matrix. The matrix is demonstrate for
four kind of innovation matrix to elaborates in market and product perspective:
Radically disruptive: Innovation is term that depict to control new technology mechanism for
generating new business model.
Radically sustaining: The improvement scope on product process in existing where market
values provides to more customer.
Incrementally disruptive: An incremental improvement in technology that leads towards
dramatic disruption.
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Incrementally sustaining: it refers about small cumulative changes in an existing product
technology or service.
The use of innovation matrix is to mainly classify for the initiatives for innovation within
portfolio.
 Architectural vs Modular innovation: The Architectural innovation is emphasis about
reconfiguration of existing product technologies where core competent of product remain
same the relationship between these components changes (Kraśnicka., Głód and Wronka-
Pośpiech., 2018). Modular Innovation is an exact towards opposites. In modular
innovation, there is one or more components about product is changed while overall
design at similar portion.
Evaluation:
In above innovation theories about Tesla company is explain in detail manner where it
helps to guide that different innovation traits having unique objectives. For company suitability,
Radical and Incremental innovation which leads towards new business model for attain
competitive advantages (Li,., 2019). On the basis of approaching particular innovation theory it
helps to develop better business plan, product modification and target objective in effective
manner.
Task 3.
Illustrate proposal of an innovative product, price service for working organisation and produce
suitable plan.
2. Relevant literature associated with the topic.
As per defining about literature review for innovation and enterprise in Tesla
Incorporated. There are two objectives on which it well define about role of innovation in
specific organisation are:
 To understand the impact of innovation in the enterprise.
According to the Will Purcell, 2019. The modern grow and succeed in today's climate for
certain reasons. Their product and other type of services and still flexibly that emphasis factory
brand loyalty captivating or advertisement practises. To enhance more advanced, creative and
target market as well as customer. Somehow, innovative leaders or managers are tend to
introduce their ideas and vision to create better process and business to decades in success
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reinvention and innovation. This maintain to competitive edge for implies overall business
strategy. An innovation is concept which define about process about creativity or vision that
related to existing product to explore and ideas in new days. In every organisation innovation is
plays an important role that a company which might pursue that directly product and service in
internal perspective. In perspective of Tesla, it is an innovative and world's largest firm who
majorly deals within electronic vehicles and solar panel to change the market concept within
business model (Lokuge and Sedera, 2018). Innovation is plays an important role in business or
organisation and massive growth towards technical advancement as per past decades because of
its extreme growth in competitive marketplace. This increasing need of growth and change that
provides about great deals or opportunity towards business. Innovation helps to companies for
growth in order to become successful and profitable to achieving goal and objectives to product
expensive avenue growth. Innovation is enhance to keep organisation relevant the changes
appears on constant basis which driven through relevant and profitable which eventually need to
adapt for meet goals and objectives.
 To implement strategies for innovation in Tesla organisation.
As per opinion of Julia Kylliean, 2020. The strategy is about making between number
feasible to option have best chances at wining and innovation is just one of means to accomplish
your strategic goals. Its enhance quite difficult to accomplish team in business orient to create
better speed where it better enhance competitive advantages. According to statistics, 96% of
executives in strategy for fundamental problem to identify priority (Nzomo and et. al., 2020). At
the time of developing innovation strategy is not necessary to having difficult towards aligning in
business overall strategy where less time taken and efforts. The innovation strategy that helps to
creative new values people to willing to assort to pay for harnessing where marketing, operation,
finance and research and development to accomplish competitive goals. By setting boundaries
your innovation work to accomplish towards best positive outcomes. In perspective of Tesla
company, the strategies which made development strategy for having process to start that making
deliberately choice to focuses where best possible to win as well as better justifying reason
behind. There is five steps to create developing innovation strategy such as Determine objectives
and strategies approach to innovative where first step in which strategy to choice about yo better
define for winning aspiration (Petricevic and Teece, 2019). In other words, innovative objectives
behind for creating innovative strategy, as per any other strategy the planning process about
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innovation presumes to defining your objectives. After the clarity of objectives it easy to
presumes to attain task in better form of strategic apply on it for successfully accomplish targets.
3. Critically analysis of the product services or process.
To analyse effective about the product and service of Tesla company where they
effectively deals on electric motor cars and solar panels along with other product specification to
attain high competitive advantages. In recent years Tesla become most trustable and influence
company where it launches electric related cars and recently they introduce Cyber truck as the
reception tends to enhance critics reviews who is founder Elon Musk. On Technology scholars
many high tech innovators is better commercialise where new technologies which is mapping by
Elon Musk. The strategy which follows by Tesla company, as their team is majorly focuses on
transforming in auto industry for any innovators (Rexhepi and et. al., 2019). As Tesla is becomes
one of most become innovative company where they ensures about profit making as well as to
changing market concept to adapt new changes for attain competitive goals. Elon Musk has
started Tesla after so many decades where he experienced through many start up like Space X
and Pay Pal to effective support to future company (Rodríguez, Molina-Castillo and Svensson.,
2020). The strategy which Tesla has changed to create average vehicles that integrated around
the central software architecture making to challenges to imitate, as Tesla ability to effective
update software optimise vehicles performance. Tesla hardware is effectively architecture
making it more challenging two batteries as electric engines, no transmission where also enhance
to having advantages on such a lower gravity, qulaity of mechanism allows to implement in
product of services of Tesla.
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There is leverage part of old internal combustion to producing them scale in better ways. Tesla
is betting that they will control the bottleneck where thus, the profit centre for the future of
industry. The company determines on constant development a fascinating multi progressed
towards fundamental industry. The core strategy has its unique elements at such level of
ecosystem (Shen, Sha and Wu, 2020). Over turning about core product if architecture where
better resolving having systematic limitation which shows adoption technology. Investors are
having their perspective about potential Tesla future company market value to enhance towards
exceeds collaborate market about Ford and Fiat Chrysler. .
Evaluation:
As per above segments of Tesla motors is enhance more creativity and objectives to
reduces fuel to bringing new concept of electric vehicles towards gain more competitive
advantages from competitive market (Zhen and Yao., 2020). Tesla is follows currents trends and
through that their presence can changed market position into better another level to gain better
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Illustration 1: Road to Tesla, 2021
Source: https://www.garyfox.co/tesla-swot-analysis/

productive outcomes. Furthermore, electric vehicles and solar panels is allows to gain high
competitive trend market to setting benchmark through which better positive outcomes gained in
effective manner.
4. Recommendation with Justification.
The overall topic is generally base on innovation and its impact on enterprise which is
essentials as it creates opportunities along with challenges to attaining competitive advantages.
By consider company is Tesla which allows manufacture electric base vehicles along with solar
panel to accomplish objectives. Tesla is itself an innovative company that focuses on to
manufacture high quality of product and service which prevails more positive outcomes in
effective manner. In first stage, company overview is demonstrate about their strength in terms
of revenue, employees along with product details. After that, innovation theory describes about
four different type of innovation in context of organisation and how it implement (Temirov.,
2019). About that, main recommendation which innovative play an important aspect to generate
more information related with new advanced product and services that not easy to imitate as well
as specification enters through Artificial Intelligence specification to create better Tesla's product
and services in effective manner.
As to develop internal management like human resource department which responsible
for hiring and selection for new employees to get better manpower where their contribution
enhance business in more advanced level (Sinclair and et. al., 2018). Workforce plays an
important role to systematic manage all activities by putting inputs their creativity which can
makes Tesla business more productive. In general, employees are freely share their ideas or
further suggestion related with project or anything else (Szuper and Wołoszyn, 2020). This
workplace equality is strictly follows by Tesla venture that creates excellence coordination
among employees. Employee engagement activities can be factor in which it helps to motivates
employees as well as employees can improves their innovative or creativity skills in productive
manner that important to further option.
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CONCLUSION
From above report of Innovation and Enterprise it explains to provide theories, process
and detail description about innovation that creates more advancement for company to being as
innovative business and enhance growth. Background of innovation play an important role to
effectively generate detailed or concise information in terms of capital, revenue, manpower and
dealing of product and services. More over, innovation role is to further adding aspect top create
effective benchmark that creates better positive outcomes. To making critically evaluate product
and service about process to which innovation generates more benefits that attain positive
outcomes. By elaborates to literature review that highlight innovation role, impact, importance
and strategies which build more competitive outcomes and also prescribed different stage of
process to implement better innovation.
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REFERENCES
Books and Journals
Caloffi, A. and Mariani, M., 2018. Regional policy mixes for enterprise and innovation: A fuzzy-
set clustering approach. Environment and Planning C: Politics and Space. 36(1). pp.28-46.
Drobyazko, and et. al, 2019. Entrepreneurship innovation model for telecommunications
enterprises. Journal of Entrepreneurship Education, 22(2), pp.1-6.
Hnatenko, I., Kuksa, I., Naumenko, I., Baldyk, D. and Rubezhanska, V., 2020. Infrastructure of
innovation enterprise: features of formation and regulation in modern market conditions.
Management theory and studies for rural business and infrastructure development=
Vadybos mokslas ir studijos-kaimo verslų ir jų infrastruktūros plėtrai: mokslo darbai,
2020, vol. 42, no. 3, p. 97-104.
Kijkasiwat, P. and Phuensane, P., 2020. Innovation and firm performance: The moderating and
mediating roles of firm size and small and medium enterprise finance. Journal of Risk
and Financial Management. 13(5). p.97.
Kraśnicka, T., Głód, W. and Wronka-Pośpiech, M., 2018. Management innovation, pro-
innovation organisational culture and enterprise performance: testing the mediation
effect. Review of managerial science. 12(3). pp.737-769.
Lokuge, S. and Sedera, D., 2018. The Role of Enterprise Systems in Fostering Innovation in
Contemporary Firms. J. Inf. Technol. Theory Appl. 19(2). p.2.
Nzomo and et. al., 2020. Modes of innovation and enterprise development by Nairobi’s mobile
tech startups.
Petricevic, O. and Teece, D.J., 2019. The structural reshaping of globalization: Implications for
strategic sectors, profiting from innovation, and the multinational enterprise. Journal of
International Business Studies. 50(9) pp.1487-1512.
Rexhepi and et. al., 2019. Open Innovation Models for Increased Innovation Activities and
Enterprise Growth. Open Innovation and Entrepreneurship. pp.37-49.
Rodríguez, R., Molina-Castillo, F.J. and Svensson, G., 2020. The mediating role of
organizational complexity between enterprise resource planning and business model
innovation. Industrial Marketing Management. 84. pp.328-341.
Shen, J., Sha, Z. and Wu, Y.J., 2020. Enterprise Adaptive Marketing Capabilities and
Sustainable Innovation Performance: An Opportunity–Resource Integration Perspective.
Sustainability. 12(2). p.469.
Sinclair and et. al., 2018. Social innovation, social enterprise, and local public services:
Undertaking transformation?. Social Policy & Administration. 52(7). pp.1317-1331.
Szuper, K. and Wołoszyn, K., 2020. Innovation & Enterprise Innovation Strategies. Zeszyty
Naukowe. Organizacja i Zarządzanie/Politechnika Śląska, (148 Contemporary
management), pp.735-748.
Temirov, A., 2019. FINANCIAL PROBLEMS OF INNOVATION DEVELOPMENT IN
SMALL ENTERPRISE ACTIVITIES. Архив научных исследований.
Zhen, Z. and Yao, Y., 2020. Optimizing deep learning and neural network to explore enterprise
technology innovation model. Neural Computing and Applications, pp.1-17.
ONLINE
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Purcell. W., 2019. Importance of Innovation in Business. [Online] Available through:
<https://www.northeastern.edu/graduate/blog/importance-of-innovation/
>.
Kyllianen. J., 2021. Innovation strategy. [Online] Available through:
<https://www.viima.com/blog/innovation-strategy>.
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