Principles of Innovation and Entrepreneurship

Principles of Innovation and
Entrepreneurship
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Contents
1. INTRODUCTION.......................................................................................................................3
2. MAIN BODY SECTION.............................................................................................................4
2.1 Implementation of policies/ tools/techniques for increasing creativity among employees...4
2.2 Factors that might prevent the creativity of employees.........................................................5
3. CONCLUSION............................................................................................................................6
REFERENCES................................................................................................................................8
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1. INTRODUCTION
Innovation is considered as process in which innovative ideas, ingenious thoughts in form of
invention and method. It signifies the best solution to fulfil the innovative needs as well as
requirements. In context of Tesla, it is one the largest company which is located in Palo Alto,
California, U.S. This company was founded by Martin Eberhard in the year of 2003 which
provide vehicles to its customer in order to satisfy them. In addition to this, the major innovation
of Tesla is producing the electric car for the customer in order to gain competitive advantage
over rival firm. Apart from this, they make the innovative battery which helps in recharging them
in quick manner at affordable cost in order to attract the large number of customer. They provide
the digital electrical car to its customer at reasonable cost. It helps in increasing the success and
growth of business organisation in future period of time. It is necessary for the company to
provide unique and specific products as well as services to its buyer that helps in gaining
competitive benefits over rival firm at workplace (Hur, Moon and Ko, 2018). Apart from this, it
is necessary for TESLA to bring innovation in order to achieve leading position at marketplace.
They provide wide range of products and services to its customer for increasing their
performance level of company. In assistance of this, the innovation is necessary to increase the
sales and profitability level. Beside from this, Tesla brings innovation which involves digital
electric car in order to attract the ample of customer in an effective manner. Also, they produces
the Model S, it is the safest as well as fastest car on the road.
Apart from this, Tesla adopts the innovative technology in order to satisfy the customer at
global level. It is one of the superior quality electric car provided to its buyer in order to increase
their experience level. In addition to this, Tesla provides the car with the battery range of 265
Miles which is more than twice the rival firm. It helps in gaining competitive advantage over
rival firm at marketplace. Apart from this, Tesla new battery as well as charging technology has
given at a considerable lead in producing batteries at reasonable price and recharging in quick
manner (Lin, 2019). It assists in increasing the profitability as well as proficiency of the
company. Through the electric and hybrid car, Tesla is able to protect the environment form the
getting affected by the pollution. In relation with innovation in entrepreneurship, the principle
and technique plays a vital role in enhancing the employee’s creativity, motivation which leads
to high morale. Therefore, the innovation is necessary for the success and growth of Tesla. At
least, they bring the innovative electric digital car which helps them in protecting the
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