Innovation and Performance: A Case Study of Tesla

BM627 Managing
Innovation in Business

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Organization and Industry Overview-.........................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

EXECUTIVE SUMMARY
This report is based on the innovation and the performance and will discuss the innovation
history of the Tesla as it has the most fascinating history as this company has changed itself as
well as the whole automotive industry of the company. Along with this, it will also discuss the
existing performance and the capabilities of the innovation of the organization as well as the
automotive industry's status or the performance in the year 2021.
INTRODUCTION
Innovation Management is the process which involves of managing the procedures of the
innovation of the organization from the initial stage of the idea till the final stage of successfully
implementing these ideas. This includes the decisions, practices as well as the activities of
formulating and implementing the innovation strategy in the organization. Tesla company is
involved in the manufacturing of the electric vehicles for combating the harm to the environment
by the vehicles. This report will discuss the history of the Tesla company as well as the existing
innovation performance and the capabilities of the company. Further, it will discuss this industry
in the year 2021.
MAIN BODY
Organization and Industry Overview-
Company's overview:
Tesla company is known for its manufacturing the electric cars. This company was
founded in the year 2003 by the group of the engineers for proving that the electric cars are much
better, quicker than compared to the petrol cars. To achieve the goals of the sustainable energy,
Tesla company came up with the energy solutions. Tesla is considered as one of the biggest
seller for the plug in electric vehicles. The major product of the Tesla company is the electric
cars, battery energy storage, solar roof tiles, solar panels and the related products and the services
are offered to the consumers.
Tesla company has total 438 stores all around the world and the around 100 service
centres for the customers. Tesla is the public company and the logo of the Tesla company means
the cross section of the electric motors (Shevchenko, 2018).
Innovation History of company:
The history of the innovation of the Tesla company is much interesting as this company
has taken the minds of the people to the different level in the technology. The Tesla company is

named after the Nikola Tesla as the Serbian American Engineer. The history of the Tesla
company is highly fascinating because this company has contributed much in the electricity for
developing the sustainable energy. When he immigrated to the New York country, he worked for
there as an engineer and while working, the misunderstanding was created. After this, he quit for
launching the Tesla Light Company and eventually after some years he met with the success
with another inventor in the industry of electricity, the licensed patents for the AC motors for
Tesla. The AC hydroelectric power plant was then used for the city of Buffalo in the New York
country. After this, he patented the coil of Tesla in the 19th century which enabled the wireless
technologies as well as the technology of the radio. Then the Nikola Tesla died and then the
Tesla company become the bankrupt company (Mohamad and Songthaveephol, 2020).
Then few years later, the Tesla company came up with the new ideas of sustainable
energy by manufacturing the electric cars and this company became the biggest and the first
company to manufacture the cars which manually works. This innovation is considered as the
incremental innovations because the company has taken all the existing pieces and putting these
together for making successfully new products. The Model S of the Tesla company's car is
considered as the best in the aerodynamics and has the longest range of the electric cars in
overall world as having up to 300 mileage in just single charge. This company has invented the
Tesla coil in the year 1891, which is still used in the radio, television sets as well as almost in
other electric equipments (McKenzie, 2019).
The innovations of the Tesla company is much highly and advanced in the terms of the
technology which was not even used by any other car manufacturing companies.
Existing Innovation performance and the capabilities of the company-
Innovation performance can be defined as the ability of transforming the innovation
resources as well as the capabilities which results to the success of the company in the market by
providing the competitive advantage to the organization. The performance of the innovation
helps in the understanding the efficiency of the efforts made by the company for the innovation
process.
The performance of the Tesla company is showing much growth by the innovation of the
new products. This company is producing the innovative products which does not cause any
harm to the environment which includes such as the range of the electric cars to by evaluating
the needs and wants of the consumers for meeting their expectations. The S model of the car is