Managing Innovation in Business: Innovation Roadmap for Tesla

CW2: Individual Report: A full
report comprising an action plan
roadmap for the development and
implementation of the innovation
capabilities of the chosen
organisation.

EXECUTIVE SUMMARY
The nature of this project is such that it is the second project in a series of two projects in
which tesla, the automobile and clean energy sector giant’s detailed internal and external analysis
and capability identification was undertaken in a previous project titled CW1. On the other hand,
the main aim of this project titled CW2 was to study and take the previous project as a reference
in order to study and document the future of the industries in which Tesla conducts business in to
identify opportunities for innovation by planning a detailed innovation roadmap. The report
contained detailed analysis and researches related to the future trends that are set to dominate the
above-mentioned industries such as use of photovoltaics, smart system interfaces in vehicles and
widespread adoption of clean and sustainable electric batteries. Then the report supplemented
these trends with analysis of the innovation requirements of Tesla by analysing the company
through models such as the Pentathlon framework and simplified innovation process model
which helped identify the areas in which potential for innovation exists for Tesla. A detailed
innovation roadmap was prepared on the basis of the conducted analysis which contained two
broad plans of action for Tesla, one being to diverssify their electric vehicle portfolio by adding
new electric trucks and utility vehicles and the second being to become a full time global
supplier of rechargeable electric batteries. In order to ensure that the developed innovation
roadmap gets implemented down the road without any critical errors, the report also conducted
an analysis of various aspects which help develop Tesla’s innovative capabilities such as
stakeholder engagement, knowledge management, knowledge transfer, change management
issues and strategies along with organizational culture, climate and leadership.

Table of Contents
EXECUTIVE SUMMARY...........................................................................................................2
INTRODUCTION..........................................................................................................................3
MAIN BODY..................................................................................................................................4
The future of the industry 2020 and beyond......................................................................4
Tesla's innovation requirements 2020 and beyond...........................................................5
Building the Future Innovation Capabilities for the Organisation.................................8
CONCLUSION............................................................................................................................12
REFERENCES.............................................................................................................................13
APPENDICES..............................................................................................................................16

INTRODUCTION
In order to survive in the modern business environment, firms need to be on top of their
game and ensure that their operations are technologically advanced and are built for the purpose
of long term growth. In order to build a robust framework which fosters innovation, firms need
to judge the future innovation drivers of their specific industry, the innovation requirements of
the industry going forward and also develop frameworks to satisfy the identified avenues of
innovative growth (Trevlopoulos and et.al., 2021). This report will be based on the findings
obtained the from previous CW1 project on the innovation process and dynamics of Tesla within
which it was identified that technology driven innovation in the auto mobile industry is the way
to go forward in terms of capturing a better market share for Tesla and the firm has more than
enough capabilities to undertake any road possible towards new technological innovations. This
report will focus on the future market outlooks for Tesla and the auto mobile industry at large in
order to develop an innovation roadmap for the company's future innovative operations and
aspirations and the report will also highlight the key processes involved in charting innovation
pathways such as organizational culture and approach to change management (Markovic, and
et.al., 2020).
MAIN BODY
The future of the industry 2020 and beyond
As identified in CW1, the auto mobile industry has great future potential for growth as
the industry in UK is worth more than 60 billion pounds and has been recording steady growth
especially on the back of new technologies such as smart user interfaces and electric vehicles
whose market in the UK is also showing robust future projections. Some key drivers of
innovation which will drive the future of the auto mobile and clean energy sector forward were
also identified in the CW1 which Tesla can take advantage of and they are listed herein.
 Technology – The amount of technological leaps that auto mobiles have taken over the
last few decades has been nothing short of a miracle as what once was powered through
steams is now charged using solar power. Tesla's future in innovation will be driven by
new and emerging technologies such as integration of smart systems such as bots and AI
on the dashboard of cars. When it comes to renewable energy industry, various new