Innovation and Enterprise: The Role of Innovation in Tesla

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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