Socio-Economic and Legal Environment in Tesla: A Literature Review

This report discusses the socio-economic and legal environment in the context of Tesla, an American company in the automobile industry. It includes a literature review on the factors affecting the company's operations, such as technological, social, economic, and legal factors. The report also explores the impact of political factors on Tesla's growth and provides recommendations for the company.

SOCIO- ECONOMIC AND
LEGAL ENVIRONMENT

EXECUTIVE SUMMARY
The socio- economic and legal environment is the part of external environment which need to be
studied by the company in order to getting success. This is majorly because of the fact that the
company works in business environment which is very dynamic and ever changing and if
company will not work in accordance with these changes then it will not be profitable for the
company. The present report is based over Tesla which is an American based company in the
automobile industry. The company deals in products like electric vehicles and different clean
energy products and headquartered in California. The present report discussed about the
operations of company and how the different factors affect the working of the company. Thus,
for this the different views of different authors were discussed in form of literature review
relating to the different factors which affect working of company. These factors were like
technological factors, social factors, economic, legal and many other factors. Further the
different legal implications of the business and its working was discussed. In the end the
different drivers of changes like demographic, social and technological drivers affecting the
working of company was discussed.

TABLE OF CONTENTS
TABLE OF CONTENTS..............................................................................................................3
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................5
Literature review.........................................................................................................................5
Impact of legal and political factors in Tesla..............................................................................8
Conclusion And Recommendation...........................................................................................11
TASK 2..........................................................................................................................................13
Case study- Drivers of change..................................................................................................13
REFERENCES..............................................................................................................................17

INTRODUCTION
Present case study is based upon the Tesla Company which is an American based
company carrying the business of the electric vehicle and clean energy. The concept of this
business is founded by Martin Eberhard, Marc Tarpenning, Elon Musk, J.B. Straubel and Ian
Wright. They are having headquarters in California. Due to carrying the innovative ideas in the
automobile industry, the business is carried by around 48,016 employees. Tesla carry the
specialty in manufacturing electric vehicle or getting energy backup through the solar energy or
solar panel (Agusdinata and et.al., 2018). The struggle of the company started from the starting
period till the company came into existence but due to carrying the continuous innovation in
their products.
After 11 year of journey, they are carrying the tagline of best-selling battery electric
passengers in cars. In terms of increasing the sales in the business, it is recorded that they
produces 1 million electric cars in 2020. By this aspects, they carry the market share of around
23% of the electric car segments. The major impact which the company is facing is relating to
expanding the business or also examining the social trends which is emerging in market
regarding to producing the concept of battery. In case of TESLA, the major competitors which
they are facing is relating to cost effectiveness or adapting new and advanced technology in
business.
In respect of examining the social factors which raising impact in the working of the
TESLA is relating to examining different demands of the customer regarding preferring the
products or services. The customer are attracted if they find low carbon footprints in the products
which they are using or choosing such products or services which they can reuse. As it is not
necessary that every country is developed or also they are taking the steps to improve the
condition of the country (Alonso Raposo and et.al., 2018). Thus, people mainly support to such
companies who helps the other companies or country to improve their wealth condition. Thus,
the strategies which the TESLA adapted regarding emerging the business at international level,
helps them in sustaining their position in market for longer way.
The effects of economic factors are higher in the business due to changes in prices of the
raw material or difference in currency of the countries. Thus, in this aspects, TESLA mainly
adapts the various strategies such as decreasing the renewal energy cost of the electric cars and
also decreasing the battery cots. Thus, it is undertaken in respect of conducting the market

research where the detailed information is gathered about the customer preferences or demands
on selecting the cars (Babic and Kezic, 2018). Thus, by understanding the various business
model under the social and economic factors, results in retaining the interest of the customer
towards the business for longer time period. Technology is also one of the major aspects which
results in gaining major benefits in the business as through this aspects, it results in reaching to
large customer bases and also provide them, advances technology systems.
TASK 1
Literature review
In the words of Lee and Park (2018) it is very necessary for the company to analyse all
the drivers of change which can change the shape and size of the business. The major reason
underlying this fact is that the business exists in environment which is frequently changing and
dynamic. Thus, there are many changes taking place in the environment in which the business
exists. Hence, it is the duty of the company to keep the track of all these changes and then try to
adapt to all these changes in successful manner. This includes changes in many different factors
like technology, economic factors, legal factors, social factors, taste and preference of the
consumers and many other different external factors affecting the business.
But in against of this Lehman and Zaitsev (2017) argues that if the companies will not
take into consideration the changes taking place in the business environment then the company
might lose its competitive position within the market. This is majorly because of the fact that if
the company will not have the proper adaption to the changes then the consumer will not like the
fact that the goods and services are not according to the latest trends and preference of
consumers. Hence, it is most important for the company to keep track of very change within the
market and then adapt to the changes if necessary.
As per the views of Mercure and et.al., (2016) whether be it any type of business the most
important thing for the success of the company is that whether the company is complying with
all the latest changes or not. If not then the company will not be in proper condition and may not
be good at earning profits. Thus, this will not help the company in managing its operations in
proper manner. Thus, for this it is very necessary for the company to manage and properly
market research for the changes taking place in the business environment. Thus, for this there are
many different types of tools and methods with which the company can take care of the changes

taking place within the market. The major tool for this is the analysis if the external environment
which is with help of PESTLE analysis.
In the views of Onderwater, Kishoon and Catbagan (2017) the companies enjoys profit
when they makes proper use of all the market research tools and techniques in effective and
efficient manner. Thus, this PESTLE analysis will help the company in analysing all the changes
taking place in the political, legal, technological, social, economic and environmental factors of
external environment. For instance, if Tesla wants to know what are the changes taking place in
their external environment then it can take help of PESTLE analysis as this will help the
company in critically analysing all the external factors which can have impact over the business
and its operations. Thus, this is a good tool for analysing the current trends and implication going
in the market.
As per the views of Palmqvist (2018) states that the political factors are the one which
includes changes taking place within the political and governmental setup. This includes changes
taking place in the political parties, government rules and regulations and other factors related to
the political setup. The major trend going in the political field for the automobile sector is very
positive. This is majorly because of the fact that the government of country is giving incentives
and extra privileges to the companies which are working in direction of electric automobiles.
This is majorly because of the fact that when the company will go for electric vehicles then this
will promote low air pollution and will be much safe for the environment. Hence, government is
promoting this type of opportunities by giving extra benefits to the companies supporting the
concept of electric vehicles.
But in against of this Paramesh, (2018) argues that the political factors may have some
negative impact as well like more interference of government within the policies and practices of
the company. This is majorly because of the fact that no company will like the fact that
government of the country interfere more in the operations of the company. Also, the other major
issue being faced by Tesla pertaining to the political factor is that there is political stability in
many of the countries with which company is trading. Hence, this does not create much problem
for the company at time of trading across different countries.
In against of this Perig and et.al., (2019) articulates that the major knowledge which the
company must keep for the success of business is of the macro- economic dimension of
environment. This is pertaining to the fact that the company exist in economic condition of the

company and if it will not be stable then the business will also not run stably. Hence, the current
economic condition is an opportunity for Tesla. This is majorly because of the fact that because
of the shift towards the electric vehicles the cost of the company has lowered as this does not
involve much of the cost for the company. Also, because of this decrease in the cost for the
company the profit have increased and this profit also increases the national income of the
country which is beneficial for both company as well as economy as a whole.
But in contrast to this Popova (2019) argues that the major factor to be considered at time
of running and operating the business is the social factor. This is majorly because of the fact that
the social factor includes the need and requirement of the consumer that is what the consumer is
requiring. Thus, if the company will not take into consideration this factor then the company will
not be successful. Hence, for Tesla the social factor is an opportunity because in the current
highly populated and modern world the consumer are more preferred to saving the environment.
Hence, the use of electric cars by Tesla will attract more of the consumer. Along with this
company is also trying to use low carbon material into their vehicles which will also protect the
environment and this will also be preferred by the consumer to a great extent.
As per the opinion of Qiu and et.al., (2017) the study of technological factor is the most
important thing for getting success in this highly competitive world. This is majorly because of
the fact that if the company will not adapt to the latest technology then the company will become
obsolete. Thus, this will decrease the efficiency of the company and the consumers will not like
the product of the company. The major consideration at time of using technology is that the
company must arrange for proper training session for the employees of Tesla so that they can be
trained the use of technology in proper manner. This is majorly pertaining to the fact that if the
technology is not used in proper manner than it can be disaster for the company and it can turn
into heavy losses. Also, for using the technology in proper manner the most important thing is to
properly do the market research for the latest technological changes taking place within the
environment.
But on the other side Sasse and et.al., (2018) criticizes that the most important
consideration for Tesla is to study the legal factors which governs the business. Tesla operates in
many different countries and all the different countries have their own rules and legal implication
which they have to follow. Hence, these laws and regulations govern the business and the way a
business must run and operate. Hence, it is very important for Tesla to comply with these laws

and follow all of them. Thus, the major opportunity of abiding by all these laws is that this build
and increases the trust of consumer over the company. This is majorly because of the fact that
when company follows all laws then the consumer are satisfied that the operations of company
are ethical and does not break any of the moral principles.
In against of this as per the views of Shah, Logiotatopouloh and Menon, (2019) along
with all these factors the environmental factor is also gaining importance in this modern era. This
is majorly because of the reason that in this modern business world the consumer has become
more environment conscious and does not like when the company hurts the environment by their
operations. Hence, for this the company not like the product of Tesla as it emitted many polluting
effluents in the environment. But when the company came up with the electric car concept then
the consumer liked it to a great extent. Thus, this again increased the consumer base of the
company and the company started increasing its sales and revenue.
In the end Stevovic, Jovanovic and Stevovic (2017) articulated that the most important
thing for the company to get success and survive with huge profits is that they must timely
research for all the changes within the business environment. Also, the company must adapt to
all the relevant changes which may affects the profitability of the business. This is because if the
company will not adapt to the changes which may affect the company and its operations then it
will be a losing situation for the company.
Impact of legal and political factors in Tesla
1) Role of political factors in economic growth:
In context of understanding the impact of political factors this is mainly undertaken
regarding managing the government policies or norms regarding managing the import and export
in the business. Government norms are strict in certain areas and thus not allow every companies
to expand the business into their country or deal in any activity relating to import or export of
any products. As in case of TESLA the opportunity which is gained to business is respecting to
provide support regarding entering into valid trade agreement with other companies (Caymaz
and Aydin, 2020). Through this manner it results in enhancing the business at larger level and
also undertaken new and innovative ideas to bring more creative concepts in electric cars. As this
is one of the new concept which is emerging in market and thus the support of government is
higher in respect of avoiding conflict in countries regarding bringing competitors in business.

Another benefits which is gained through working under the government norms is relating to
if any person purchasing the vehicle of Tesla they are availing the tax benefits in their business.
It results in supporting some amount of resources to the environment and also contribution
income for future development. The major challenges which the tesla is facing is relating to not
bringing any new policies which results in affecting the norms of the government or which not
carry any interest of the government (Clinton and Steinberg, 2019).
Thus, in respect of examining the role of government on the economic factors is relating to
following aspects such as:
 Regime type: In this type, the impact arise regarding different the person on the bases of
various aspects such as in form of communist, democratic or other nations within the
country. As in terms of economy, this is mainly designed by the government norms
regarding imposing policies depending upon the particular aspects. In case of democratic
nation, it is stated that small business firms can easily obtain loan through proving the
document regarding to undertaking the business by dealing in buying and selling of the
products (Coppola and Silvestri, 2019). It is also stated as per the government norms, that
under the democratic nations, employees are paid as per their capability and skills and
also owners carry the right to terminate the person in case of violating government
norms. In case of communist nations, all employees are paid equally without any
discrimination regarding the post and experiences carried in attaining the task.
 Political stability or instability: It is stated with the term of linking up with the durability
and reliability in the government rules. As more stable the government norms are, more
the chances of growth in the business and also reduce risk in respect of undertaking any
activity (Davis, Polit and Barros, 2019). The impact on economy is raised in respect of
facing any conflict or war period in the country. This results in reducing the economy of
the country by not carrying any business or trade transaction.
 Policy management: It mainly related to the intellectual property right such as patent and
copyright regarding managing the national and international laws in right way. The
impact on economy is raised in respect of not providing adequate protection in securing
the right of the holder of intellectual property. Thus, economy affects regarding not
earning any profits or no person is buying such things as they are availing such things in
free of cost.
 Corruption issues: This is mainly undertaken in respect of carrying dishonesty, unethical
and illegal activity which is undertaken by the person regarding earning extra profits.
Corruption is usually adapted by the bribing politician which helps the local companies to
enter into different countries or allow other companies to enter into the countries to earn
profits (Dešić, Filič and Filjar, 2017). Thus the impact of the economy is raised in respect
of affecting the monopoly of the countries and also increasing the prices of the products.

 Trade laws: Under this laws, the government imposed regulation on the bases of
managing the tariff charges or taxes which is examined through dealing in import and
export of goods or services. Thus, the flexibility is given by the government regarding
paying less taxes on particular items which is mainly designed in their own country.
There is high different in tax rate in developed and undeveloped nations. Thus, in case of
developed nations, it results in occurring high taxes on the products when they are
exporting their products into the international market (Dibble, 2018). In case of TESLA,
they are enjoying the benefits which is gained through this aspects regarding imposing
less taxes but in some cases had to pay high taxes in respect of buying battery parts or
any system required to manage the operation activities in business.
2) Implication of sharing economy in TESLA
Sharing economy respect to the purpose regarding bringing changes in the existing things
which is mainly undertaken in respect of gaining profits in business. In case of TESLA this is
adapted through examining the major challenges which is faced through understanding the
human centered market instead of focusing on building the successful enterprise (Tesla Business
Analysis, 2020). Thus, by adapting sharing economy is resulting in transforming the objectives of
the business into the better aspects and such transformation is done in respect of fulfilling the
purpose economy.
The major changes which the business are facing is relating to climatic changes and also
social changes such as taste and preference of the customer in selecting the particular cars and it
usages. Another change which is examined is relating to the data storage and development in
exiting software which company is using to track the necessity of the customer regarding
selecting their products (Fadali and et.al., 2017). Another challenges which is adapted by TESLA
is relating to carrying the neutral languages and communication skills so that they can attract
human and also enhances financial capital in the business.
The vision of TESLA is to build trust and loyalty among the employees regarding
providing such services which is unique and different from others. Thus, in such aspects TESLA
undertake the sharing economy by providing the luxury cars and then expanding the business to
reach and build the large base for customer. The reason behind sharing the economy is resulting
in not providing the mazing car to the people but also dealing in creating the environment safe
and free from pollution (Helbing, 2019). Another economy sharing is resulting in bringing
innovation in the services, so that timely the servicing is done without the owner is using the
vehicle. The major aspects of enjoying the sharing economy in the business is results in reducing
risk in the business and also they are settling their accounts well off to sustain in market.

3) Formal and informal legal systems and anti-trust laws
In respect of formal legal system, it is mainly adapted by the rules and norms imposed by
the government and mainly punished by the court but in case of informal legal system, it is
mainly punished by the society (Ladonlahti, Laamanen and Uotinen, 2020). This in case of
formal legal system which is applied in TESLA is relating to providing judgment in favor of
TESLA regarding facing conflict under the Securities legislation relating to not following the
guidance and financial statement of Solar City.
In relation to the informal legal system which is adapted is relating to issuing two
products in market such as Model S and Model X. the impact which the people are facing is
relating to faulty parking brakes which stuck the vehicle to stop. Thus, society itself gives the
judgment regarding not preferring such vehicle for their own safety. In context of anti-trust laws,
this is applied in respect of working under the federal and state government laws which is
mentioned under the Federal trade Commission Act, 1914 (Hidalgo and et.al., 2018). As the
main issues raises regarding retaining the trust of the people which is difficult in sustaining for
longer way. Under this act, the judgment are mainly given under the civil and criminal aspects.
It is necessary for every business to contribute some amount of social benefits in the
society regarding enhancing the country economy at better scale. Thus, in respect of sustaining
the position in country, TESLA contributed $5 billion to the state economy regarding the welfare
of the country. It is also stated that due to carrying the advanced planning expansion in business,
they also opened up their vacancies in respect of providing more employment opportunities to
people (Hoffmann and Dahlinger, 2019). Instead of focusing on longer terms profits, TESLA
planning to carry the business on the bases of setting the short term goal. Thus, results in
sustaining the business in market for longer way and also supporting environment through
producing such products which reducing the impact of wastages or carbon footprints in business.
Conclusion And Recommendation
Conclusion:
From the above study, the report concludes with the matters relating to examining the
impact of social, economic and technology factors results in sustaining the longer terms growth
in the business. Report is based upon the TESLA which is specializes in manufacturing the
electric cars and energy saver resources to protect environment from any harmful pollution. As
by this aspects, they are carrying the renowned brand image in market and thus, resulting in

contribution to society to bring changes in their normal working. It is also examined from the
above discussion, that customer are mainly focused if they get advanced technology in the cars
which they are preferring or such cars which requires less maintenance, even if they are not
using for the longer time period. It is also examined that the impact of political factors results in
affecting the economy through imposing restriction regarding following various policies and
norms regarding carrying the business.
By understanding the concept of anti-trust law, it indicates that the company must be
liable to be punished if they committed any such crime covered under the civil and criminal
matters. TESLA is initiating in sharing economy among the individual and private companies to
contribute some amount of wealth, so that they can manage the company finances through
providing financial help in the country as well. Thus, by this aspects, political, social and
economic factors resulting in sustaining the growth of the business by examining the market
trends and the capability of the employees in bringing innovative ideas at work place.
Recommendation:
From the above study, the following aspects are to be recommended to the TESLA in
respect of making further changes such as:
 TESLA must approaches to its suppliers in respect of negotiating the production contract
regarding not getting appropriate quality in Model S. If the suppliers not negotiate any of
the amount, than TESCLA carry the right to shift to new suppliers in respect of
purchasing the quality products with the affordable pricing.
 As social media marketing is one of the best mode in respect of building strong base for
customers. As it is examined that TESLA not dealing in innovating or creating the new
concept in their online sites (Jacob, 2018). That’s the reason they are not attracting high
number of customer or not able to building new customer base. As very few people are
familiar with the concept relating to solar energy concept in cars. Thus, by carrying
detailed promotion about the products through social media marketing, results in gaining
longer term benefits.
 Data protection security is also one of the major aspects which results in retaining the
interest of the customers. As due to facing tough competition in market, it is tough to
retain the interest of people and also they not easily share their information and interest
on particular things (Horák and et.al., 2017). Thus, it is necessary to provide high coded
security about their information regarding not carrying right to infringed it.
In respect of examining the growth in the automobile sectors, TESLA can plan to expand the
business through enhancing the mode of partnership with other automobile companies. As
TESLA is the developers of the electric power train components and thus they can became the

supplies of such components to various companies. Thus, results in enhancing more growth in
the business.
TASK 2
Case study- Drivers of change
A change is referred to as any of the change which is taking place in the company or the
environment. The change is inevitable from the business because the business exist in the
environment which is very dynamic in nature and this includes the changes in any type of the
factor which has impact over the business (Lee and Park, 2018). It is very necessary for the
company to manage the changes because this change can affect the business in negative as well
as positive manner. Hence, for this it is necessary for Tesla to timely review all the changes
taking place within the market. As discussed above these changes can be reviewed with help of
PESTLE analysis. Form the analysis of the articles and other secondary sources it was viewed
that the major driver which leads to changes are the technological, demographic and socio-
economic trends. Under these also there are many different factors which affects the working of
Tesla in this highly competitive world.
Technological driver of change- this includes the changes taking place in the sector of
technology and this influence the company also to change its working and operations pattern.
These changes also include some time frame which has a time attached with the change to be
implemented within the company. This includes the change of technology that is involvement of
electric cars in the industry. Now if Tesla will not adapt to these changes then the company will
be out of the highly competitive market. Thus, for being in the competition it is necessary for
Tesla to adapt to the changes taking place within the sector of technology. This change is rated as
a 40 %of the trend which if company will follow hen it will be more advantageous for the
company and also profitable.
The timeframe for the adaption of this trend is around 2- 3 months because the company
will have to research for the technology with which these electric car will be made and then to
implement within the business (Lehman and Zaitsev, 2017). Also, before implementing proper
research of the machine and technology need to done like what will be the cost of implementing
the technology and how it will be operated and many other details relating to the new
technology.

The other major driver which leads to changes is the demographic factor. The
demographic factors includes the basic factors like changing nature of work, changes in the
nature of business environment, geopolitical volatility, young demographic in the market,
women’s economic power and aspirations, rapid urbanization and many other related factors
(Onderwater, Kishoon and Catbagan, 2017). All these factors come under the demographic
factor because of the fact that these almost related to the geographic condition of the market and
the consumer under it. These drivers influence the company to change the operation and product
of the company. This is majorly because of the reason that these entire factors affect the working
and operation of company to a great extent.
Like for instance, if in the target market there is large number of young population then
the sports cars of the company will be more preferred and if at that time company prefers to sell
luxury cars then this will not be profitable. This is majorly because of the reason that this does
not goes with the taste of young people. Hence, it is the duty of company to make changes as
pert he requirement of the consumer and the demographic of the consumers. Also, there is rapid
urbanization within the environment and demography of the market. Hence, more of the people
are getting attracted towards the use of cars and other luxury vehicles. Thus, if the company will
not make available product and services according to it then the consumer will go to some other
competitors. Thus, this will result in the decline of sales as well as the number of consumers.
Thus, this drives and influences the company in trying to change the company in accordance
with the demographics going on in the market.
Another major driver of change is the social factors which majorly includes the changes
taking place in the need and requirement of the consumers. This is very important drives because
if this will not be addressed then the consumer will not like the goods and services of the
company. Hence, for this the most important thing for Tesla is to keep the track of the entire
change taking place in the perception and requirement of consumers. Like for instance, the most
important change is that the women are getting attracted towards the driving the cars other
luxury automobiles and vehicles. Hence, it is necessary for the company to make the product of
the companies in such a manner that they are attractive in looks and also very comfortable and
handy for the women drivers.
This is majorly because of the reason that when women will drive then there they need
vehicles which are good at looking and which includes all the features and if all these things will

not be present within the company then they will not like it (Perig and et.al., 2019). Hence, it is
the duty of the company to take a full research of the social factors affecting the business to
change some or other thing. Also, this social factor includes time frame of around 3- 5 months as
fist Tesla will study the market and then in accordance with the changes identified the company
will design its product and then will try a sample production and if the product will get success
then the bulk production will take place.
Another major driver of social change is the protection of the environment because the
latest change in the social driver is the protection of the environment. This is majorly because of
the fact that the consumers have become more conscious about the protection of the environment
because all the things and raw material is being provided by the environment only. Hence, it is
the moral duty of the company to protect the environment by not harming with it’s by product
and the pollution which his caused by the vehicles of the company. Thus, this driver of change
influenced the company because of the company will not work in the protection of the
environment then the consumer will not purchase the goods and services of the company.
Hence, this will help the company in gaining knowledge of the ways in which it can
protect the business. Thus, the major step which the company takes in order to protect the
environment is the use of Corporate Social Responsibility. This is a concept wherein the
company uses a part of its profit in the protection of the environment and the betterment of the
society. Hence, here the company takes many steps like use of quality material so that the quality
product can be produced and sold at reasonable price to the consumers. Along with this company
invest in society development events and charity functions to uplift the status of underprivileged
people.
In the end it can be concluded that for getting success the most important thing for the
company is to analyse all the driver of the changes. These drivers of the changes are medium
through which the change is promoted to be implemented by the company. Thus, there are also
some of the models and tools which the company can use in order to implement the changes
within the business (Popova, 2019). The most common is the Kurt Lewin change management
mode. Under this model there are three steps that is unfreeze, learn and refreeze. The stage of
unfreeze includes the step in which the company remove all the practices and principles which
they were following till date. Then at the stage of learn the company tries to learn the new

changes which are taking place in the environment. In the end the refreeze is the stage where the
company and employees freezes all the new things which they have learnt.

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