The eight essentials of innovation

Student details
Innovation at Tesla

INNOVATION 1
Table of Contents
Introduction................................................................................................................................2
Organisation Background...........................................................................................................2
Innovations made by the organisation........................................................................................2
Success of the innovation and its impact on society..................................................................2
Theories and models..................................................................................................................3
Key Lessons from Tesla’s innovation........................................................................................4
Conclusion..................................................................................................................................4
References..................................................................................................................................5

INNOVATION 2
Introduction
The organisations are required to focus upon the innovation, to meet the changing
needs and requirements of the customers and to compete within the industry. The innovation
can be done in the manufacturing process or by introducing a new product within the
industry. The report is focused on analysing the innovative products and services offered by
Tesla and its impact within the society.
Organisation Background
Tesla is an American organisation dealing in the automobile industry. The
organisation focuses on the production of energy-efficient electric cars, and battery-related
products. The organisation focuses on improving its products on a continuous basis so that
they can provide their customers with a competitive product also can contribute towards the
climatic change. Tesla is focused on the production of the energy-efficient cars and also
towards the direct distribution of the cars to the customers, through the online platform or
through company-owned stores, so that the middlemen can be eliminated and a satisfactory
service can be provided to the customers. In the fourth quarter of 2019 Tesla recorded a
revenue of US$ 24.57 billion, and has a workforce of approximately, 48,016 employees
(Tesla).
Innovations made by the organisation
Tesla is considered as an organisation who has brought the shift from the use of fuel
cars towards the use of electric vehicles within the market. The launching of energy-efficient
vehicles within the industry is the major innovation done by Tesla within the industry. Tesla
focused on optimising the software and the hardware that is being used within the automobile
industry so that the performance of the battery-operated cars can be improved along with
investing in the mass production so that the innovation can be made available to the
customers within the industry effectively (Furr and Dyer).
Tesla along with focusing on battery or energy-efficient cars, it is also focusing on
promoting AI within the car’s software so that the customer experience can be improved. The
innovation made by Tesla also includes the superchargers installed by the organisation, to
eliminate the issue of the car charging. Tesla is among the world most innovative companies
with its focus on bringing such innovations within the industry (Booth).