Tesla: Innovation Management, Future Outlook & Capability Building

This report examines Tesla's innovation management strategies, focusing on the company's future outlook and the capabilities it needs to develop for sustained success. It discusses Tesla's commitment to electric vehicles and sustainable practices, highlighting the role of innovation in maintaining a competitive edge. The report analyzes Tesla's current and future innovation requirements, emphasizing the importance of leadership, technology, and resource management. Furthermore, it explores how Tesla can build future innovation capabilities through strategic investments in battery technology, solar energy, and charging infrastructure. The analysis includes discussions on competitive pressures and the need for closed innovation strategies to protect Tesla's intellectual property, all while striving for environmental sustainability and customer satisfaction. The report concludes by reinforcing Tesla's aim to transform the automotive industry and contribute to a greener future through continuous innovation.

MANAGING INNOVATION
IN BUSINESS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Future of Tesla 2022 and beyond with innovation......................................................................3
Present and future innovation requirements of Tesla..................................................................5
Building the future innovation capabilities for the company......................................................6
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Innovation is compulsory for every company to remain competitive in the present
competitive world. Management of innovation in business is an important function for
innovating each areas or procedure for producing and selling the goods in an innovative way
with less cost and more profits with full efficiency in the work (Hameed, and et.al., 2021). Tesla
which is an international automotive industry of United Kingdom which is selling its products
worldwide with so many branches internationally. This report include Management of innovation
in company Tesla for further discussion and include innovation in a way that will give an
overview of future of this country 2022 and beyond with full efficiency and efforts. Further, it
will include the areas and procedures or activities in which innovation is required for 2022 and
beyond according to the CW1 in which detail discussion about this company is mentioned. The
discussion on building the future innovation capabilities for the organisation with action plan
prepared in which all the requirements and skills needed for innovation process will be
mentioned. Lastly, it will include the strategies, techniques that are being used and methods or
reasons for innovation process will for future development to be more competitive worldwide.
MAIN BODY
Future of Tesla 2022 and beyond with innovation
As discussed earlier the future trends of Tesla which is focusing on transformation of the
automotive industry adopting many advanced or professional technologies with the help of
artificial intelligence which plays a main role (Biemans, W.G., 2018). The future of this
company is safe because CEO of this company has created an environment in which all the
employees or staff may participate and there is open communication for generating more
innovative ideas and opinions. This way this company can create more tough competitions in
future by involving all its team in making innovative ideas and process for developing more
advance vehicles with all the facility with less cost. This way the employees will work with full
efforts and with full efficiency.

Further, Tesla is fulfilling all the social responsibility by avoiding carbon emissions
discussed earlier to safeguard the environment and people for future sustainable growth. Tesla is
using all sustainable network and methods to avoid any unethical conduct for present and future
good performances. This company is fulfilling all the responsibility related to tax and
environment by providing safe products worldwide for more competitive advantages. All this
methods used by Tesla has increased its sells and made this company one of the largest company
of automotive sector in the entire world (Gohoungodji, and et.al., 2020).
Due to shortages of semiconductors and increasing rate of petrol worldwide due Covid-19
the sales started decreasing and the profits also decreasing because people are not able to buy
rich brand with high prices (Li, 2019). So this company Tesla started increasing its sells for
electric vehicles due to shortages as discussed earlier this is the first step of Tesla towards the
future innovation process with no wastages of any natural resources and become the second best
seller in the last year. The demand for electric vehicles will increase in future at rapid rate due to
shortages of petrol and semiconductors.
Tesla is making its future innovation more effective by spending more of its investments
and funds in electric vehicles and working on making the environment more green and providing
more opportunities in the world. Tesla is using battery which is Powerwall which is an integrated
battery system developed by this company. This battery is storing solar energy for backup
protection for going with the vehicle some distance place etc (Teixeira, 2018). This company is
using all the natural energy system for protecting coals, petrol etc by using solar roof and solar
panels for generating energy and consuming them by big plantations of this solar roof and solar
panels for consumption in the electric vehicles. This way the future of this company is safe due
to sustainable innovation for future and consumers are getting more reliant on the electric
vehicles for saving money and using environmental friendly products for saving the economy for
the future generation.
This innovation by Tesla has increased the number of sales and customers and increase in
profits discussed earlier. This innovation has bring more income generation in the economy by
this company and reducing use of coals and petrol (Biswas, 2022). Tesla team still producing and
developing more innovative techniques and methods for reducing the cost of products and
increasing the efficiency of the product with the use of natural resources.

Present and future innovation requirements of Tesla
Elon Musk’s Tesla is the world largest auto manufacturer and selling advanced and
innovative products worldwide. Tesla has working more innovative with full efforts to produce
more innovative and advance products for the future and changing the present working also. It
specialised team is working on solar panels and solar energies so that eco friendly methods could
be adopted for the future and present as well. The Tesla needed innovation in various category of
vehicles and using various innovative techniques for changing the present and future innovation
process of the company.
Tesla innovative leadership Elon Musk’s believes that the workforce or leaders work
hard then they achieve more then they think they. The Musk is tracking all the employees or
leaders performances with set targets for going more beyond the innovation process with hard by
everyone (Delanoy, 2020). He believes that a leader can change the perspective of all the
employees or team member to work hard by making them involved in the decision making
process. Tesla has done many projects which are becoming problems in their success by
modifying their vehicles and solving the problems of customers. The present and future
innovation requirements of Tesla can only be fulfilled by its efficient team with effective
leadership of doing the work with full efforts in coordination and cooperation between them. The
group efforts will bring more innovative ideas beyond the reach and work will be done with full
efforts.
Leading the charge at Auto Industry Transformation company Tesla is changing all its
auto industry into electric or eco friendly vehicles. This company or specialised team is working
the present and future sustainability by various innovation process like using the hydroelectricity
to save coal and petrol etc (Pelegov, 2018). Tesla still has to do more for saving the environment
from the pollution through this vehicles. Tesla need improvements in each field of its cars and
electric industry for gaining the competitive advantage in the world at present or future.
Leading competitions in Auto industry Companies like BMW, Toyota, Volkswagen etc
are also increasing their operation in automobile industry by innovating new electric cars and this
become a disadvantage or a loss of revenue for Tesla. These companies can use technologies of
Tesla by open innovation and produce more advance products with their expert team in future
and this a threat for this company due to reduction in the present and future market share
(Chakraborty, 2021). This company should use those techniques and methods that involves strict

patent rights and action which cannot be used by other companies and secure their innovation
through various methods.
Presently Tesla is facing problems in declining stock prices, due to more number of
competitions in auto industries so this company for the present and future innovation should
involve in closed innovation techniques to protect its activities. Increasing use of electric vehicle
has led an immense pressure on this company to use more natural resources for protecting the
environment with saving coal and petrol and saving people from harmful gases used in this
vehicles.
Building the future innovation capabilities for the company
Innovation capabilities is practically applying the innovative ideas and methods for the
success of the organisation it is the capability of the organisation to apply all this innovation in
real life for more success with its effective work force. Innovation led to increase the competitive
advantages of the company for the present and future (Jaworski, 2019). Innovation lead to
efficiently use of human and natural resources in a way to increase the outcomes with innovative
ideas and techniques. As discussed earlier report Tesla is showing good growth by developing
new electric vehicles with using eco friendly products and services and meeting all the customers
need and expectations with saving cost of production and saving money of consumers as well.
The S model is safest car for the consumer developed by this company and become famous in
the world by protecting the environment from harmful gases released by petrol and coals.
Emission of harmful gases in an environment had led to the need of producing this
electric vehicles for the sustainable growth in the future. The Tesla is the first 2 largest country
for introducing this electric vehicles and successful in its operation with increasing profits and
sales per year. Tesla has developed many electric cars for protecting the country from harm gases
as per the Government regulation on safety and emissions by the vehicles (Thakur, and et.al.,
2020). Tesla and its team still innovating more techniques and methods for developing or
producing the products with sustainable development for protecting the environment like planet,
people, place for availability of natural resources for the future. The main goal of the Tesla for
future is stooping climate changes by changing the mine and burn or carbon economy to solar
energy or electric economy.

Battery systems Tesla has developed various home chargers, destination chargers so that
customers will not have any problems in charging the vehicles (Ruiz, and et.al., 2020). The
Future innovation by Tesla is focusing on increasing the charging power of the batteries so that
customers will not have to wait more and also increasing the battery backup by using Power ball
integrated system which is storing solar energy for backup protection for long travelling though
vehicles.
Solar energy plants the company Tesla is using all the solar panels, solar roof for
protecting the environment from pollution carbon gases and hydroelectric plants. Solar roof has
25 year warranty has installed more than 3.6 GW of clean solar energy across 4 lakh roofs and
10 million traditional solar panels by Tesla. The solar panels used by Tesla is a major future
innovation used by converting the sunlight into energy for protecting the environment (Brodny,
J. and Tutak, M., 2021). The company for the future sustainable growth is planting many solar
energy panels and thermal plants for using the sunlight into energy.
Electric vehicles charging stations is developed by Tesla so that on the road charging can
be done by customers. Tesla is innovating various charging techniques so that customers will not
have any problems in going anywhere for long distance trips (Khalid, and et.ala., 2019). Tesla
ahs developed many chargers and super charger which save a lot of timing of customers and still
developing or innovating various ways for increasing the backup of the battery and charging
power for future. This company is also offers lithium battery cells and the EV battery packages
with its competitive advantages for future is increasing.
Leading competitive position with increasing productivity and innovative products the
Tesla is reaching the state of top position in the market or increasing it capacity of highly
competitive market. Tesla with is innovative capabilities of innovating new advanced
technologies for producing the cars and increasing performances has improved its future
capabilities automatically (Mileti, and et.al., 2020). The team of Tesla is doing its hard work
more innovative ideas and styles with excellent leadership. This company main aim is to remove
the air pollution and noise pollution which is caused by cars and vehicles and affecting the
environment and health of the public. Customers and environment safety is Tesla first aim and
working on its innovative process to fulfil this need.
Innovation strategy of Tesla presently the strategy of Tesla is transforming the auto
industry and bringing all the new technologies in the market for successful operation. Elon

Musk’s new strategy is to bring the new technologies in the products experiencing from the past
mistakes and lessons to improve the future capabilities. Team of Tesla is working to improve the
past mistakes and present working for more efficiency so that the customers can enjoy the
benefits of the products. Elon Musk’s has developed four- word innovation strategy to engineer
the future by looking the past performances.
EV Powertrain supplier this is the future strategy of Tesla is for working on powertrain
in the cars by producing EV components. The aim of Tesla is to supply more number of EV to
other companies in their cars and for earning good amount of profits in the future.
Self driving system supplier Tesla is working on self driving system with using advance
software. The work on this requires time due to this is an imaginary situation for all but Tesla
team is working hard on it and if this company reach this objective then it will become first auto
industry to reach full autonomy for this system and earn huge profits and revenue through it.
Battery supplier Tesla is working on increasing the capacity of battery to fully replace the
petroleum cars to electric cars for environment safety. Tesla have planned to increase their
battery capacity to reach 100 GWh of batteries by 2022 and 3000 GWh by 2030 which will the
greatest success Tesla. Battery are important for the working of electric cars and reliance of
customers for wasting its money on petrol which is very expensive and protecting the
environment from harm gases and health of the peoples or all the living beings (Lubert, 2022).
Supersonic Jet the future plan of Tesla is to make electric jet for the future when their is
no petrol available in the world (Krolikowski, P. and Naggert, K., 2021). The Elon Musk’s has
guaranteed to at least in future development of batteries for electric jet if they are not able to
make the jet by themselves in future. This will be the biggest achievement of Tesla in future if
they get successful in this they are working hard for this to become the world largest automotive
industry.
Semiconductor shortages Tesla faced huge decrease in semiconductor from past years
and developed new electric vehicles for reducing the use of this conductors (Azeta, and et.al.,
2021). The future aim of Tesla is to reduce its cost by replacing the semiconductors by producing
electric cars and vehicles of all the type with same features and working. Tesla is using
innovative process for future so that more cheap products can be used for replacing the shortages
in the global world and increasing the efficiency of this vehicles for future success.

Energy generation products Tesla is earning huge profits from energy generation
products by increasing its sells of electric cars. This company has the capability to develop all
kind of electric products in the future by plantation of more solar energy plants so that all the
natural resources are used in an efficient manner for protecting the environment from all waste
full resources used by humans for energy generation like use of harmful gases etc.
Service Centre Tesla is providing various type of electrical services to its customers like
with Tesla app and do all kind of repairing by its staff with schedule services by the customers
through its apps. This company receives service alerts and schedule their time for meeting the
customers demand and provide emergency services also any time the customers want. If the after
sales services of this company is not good then this will lead to automatically decrease in the
sales and profits of the firm due to customers dissatisfaction. If the after sales services of
companies is good then it will automatically attract more number of customers without any doubt
by them for selling the products. In UK Tesla is providing AT and T’s cellular network and
Australia and China are its main supplier of Lithium. Tesla has presently 120 service centres
around the world and its planning to increase the service centres for ease to customers because
every electric item need repairmen after some time for more smooth working. The Tesla is
charging fro tire rotation $35 to $100, Air conditioning service $50, Brake system flush $100 to
$110. It future perspective is to reduce its servicing cost so that customers will not hesitate to buy
its products. This company wants to increase its efficiency in electric vehicles so that less
repairing is required in the services.
Risk coverage or safety features Tesla is providing various risk coverage and safety
measures for the customers so that they can feel safe by suing this company products. This
company is providing various risk coverage for any kind of accident and uncertainty and many
kinds of warranty so that in case of emergency they feel safe about their money invested. The
future innovation of Tesla is building automatic emergency braking, forward collision warning,
land departure avoidance etc for safety of its customers. The future capabilities of Tesla is to
develop various methods and techniques for safeguarding the people from uncertainty.

CONCLUSION
From the above report its has been concluded that innovation in every field of company is
important to increase its efficiency and performances, or profits and to remain competitive in
world. Innovation in every activity or task is important like doing the task with more innovative
ideas and techniques or ways for saving the time and cost etc. Innovation automotive industry is
so important without which this sector cannot achieve its long term goals efficiently. Tesla is
United Kingdom largest company and facing huge competitions that is the reason due to covid-
19 and pandemic this company invented electric cars for protecting the customers and
environment from harmful gases. The main aim of this company is sustainable growth by
protecting the environment with using all eco friendly products for safe guarding the natural
resources for the future. The electric vehicles are becoming famous and more demanded by the
customers nowadays due to increasing price of coal and petrol. This company has achieved huge
success in electric vehicles and innovating more new products for achieving full competitive
advantages. This company has developed with its leadership and team efforts various future
innovative plans for the future so that it can achieve its positions to get full autonomy in
producing electronic vehicles. Lastly, it has been concluded that this company is using all
natural resources like solar panels, hydroelectric plants for reducing the use of carbon or coals in
producing the vehicles. It is improving its batteries and other services to make electric vehicles
more useful then the petrol cars with various innovation process by its expert teams worldwide.

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