Stakeholder Management: Understanding and Engaging with Tesla Motors' Key Stakeholder Groups

Running head: STAKEHOLDER MANAGEMENT
Stakeholder management
Name of the student
Name of the university
Author note

1STAKEHOLDER MANAGEMENT
Executive summary
The aim of this report is to discuss about the relevance of the internal and external stakeholders
for Tesla motors. In doing so, this report discussed about the different relevant stakeholder
groups of Tesla and identified that employee, customers, government and shareholders are the
major groups of stakeholders. In addition, this report also evaluated the motive and behavior of
these stakeholders and how they can be managed. Different strategic programs are being
recommended for each of the identified stakeholders, which will help in enhancing the
involvement and engagement of the stakeholders.

2STAKEHOLDER MANAGEMENT
Table of Contents
Introduction......................................................................................................................................3
Relevant challenges for Tesla Motors.........................................................................................4
Identification of the industry trends.............................................................................................4
Stakeholder view of Tesla Motors...................................................................................................5
Stakeholder analysis........................................................................................................................6
Identification of the stakeholder category.......................................................................................7
Recommended strategic program....................................................................................................9
Customers....................................................................................................................................9
Employees..................................................................................................................................10
Shareholders..............................................................................................................................10
Government...............................................................................................................................11
Conclusion.....................................................................................................................................11
Reference.......................................................................................................................................13

3STAKEHOLDER MANAGEMENT
Introduction
Determination of the stakeholders is important for the contemporary business
organizations due to the reason that diverse range of internal and external stakeholders is relevant
in the current business scenario. The more effective will be the management of the stakeholders,
the more will be the organizational competitiveness in the long term. However, it should also be
noted that strategic approach should also be different for different sets of stakeholders as their
requirements and interests from the business will be different and diverse (Missonier and
Loufrani-Fedida 2014). Among the latest organizations known for their innovations and
disruptions in the market, Tesla is one of the leading names. They are offering high performance
electric mobility solutions with disrupting the existing global automobile market trends.
The mission statement of Tesla Motors states about their objective of meeting the current
environmental needs by providing sustainable solution. In addition, the mission statement of
Tesla Motors also states about providing solutions with maximum utility to the customers. This
refers to the fact that electric mobility is being considered as the less practical compared to the
gas combustion mobility (Hardman, Shiu and Steinberger-Wilckens 2015). Thus, the mission
statement of Tesla Motors is acting as a differentiated approach in the industry. On the other
hand, the vision statement of them states about their goal of changing the entire automobile
industry and mainstreaming the electric mobility solutions with more game changing and one of
the kind products. Therefore, given their goals and objectives, it is important for Tesla Motors to
manage their stakeholders effectively and have maximum desired outcome (Stringham, Miller
and Clark 2015).