Innovation and Enterprise: Analysis of Tesla's Innovation Report

This report delves into the realm of innovation and enterprise, specifically focusing on Tesla's business practices. It begins with an introduction to innovation, followed by an overview of innovation within an organization and its significance. The report explores the relationship between innovation knowledge, skills, and their influence on business practices, highlighting the importance of these elements for success. It identifies various innovative practices and discusses opportunities for development. Furthermore, the report analyzes different innovation models, presenting their pros and cons. It also discusses strategies for developing innovators within an organization, concluding with a summary of the key findings and justifications. The report includes references to support the analysis.

Innovation and
enterprise

Content
 Introduction
 Overview on innovation within an organisation
 Relationship and influence innovation knowledge and skills have on
business practices
 Own innovative practices and identification of development opportunities
 Literature and models and their pros and cons
 Discussion on how to develop innovators within an organisation
 Conclusion and justifications
 References

Introduction
Innovation refers to the development, creation and implementation
of a new service, product or process, with the motive of
enhancing effectiveness, efficiency or competitive advantages.
Tesla is a chosen American electric vehicle and clean energy
organisation based in California, Palo Alto. Main purpose of
this presentation is to identify the significance of innovation in
business practices of Tesla.

Overview on innovation within an
organisation
Cars of Tesla are only competent to set mileage records thanks to
their fast-charging sustainable batteries. Now, Tesla
innovations reach into the arenas of grid power storage and
home power storage. The Powerpack and Powerwall are best
examples of it.

Relationship and influence innovation
knowledge and skills have on business
practices
Innovation knowledge and skills are important part of the
business success and growth. Innovation skill introduces to the
talent of exploiting innovative ideas for the motive of gaining
economic and social value. Innovation skills are
fundamentally one's capability to utilize a blend of skills,
attributes and knowledge in a specific context. Knowledge
plays an important role at stage of innovation.

Own innovative practices and identification
of development opportunities
Innovative practices refers to the new way or new mindset of
improving business performance or effectiveness. There are
different types of innovation practices that will be essential for
improving business success. Own innovation practices are
discover the needs, leverage innovation technology to foster a
creative environment, develop employees entrepreneurially,
transfer knowledge, feed-forward practices etc.

Literature and models and their pros
and cons
According to the Edquist and et. al., (2018), innovation model
gives the conceptual framework for determining and
advancing the change ideas or thoughts most likely to create
the value required to develop sustained growth. There are
different innovation framework models such as technology
push, market pull, interactive, coupling etc.

Discussion on how to develop innovators
within an organisation
Developing innovators within an organisation is important
and significant part of the business growth. There are
different ways that will be essential for Tesla for
developing innovators in their organisation. These are
give workers a sense of freedom, provide team with the
resources to develop innovative ideas etc.

Conclusion and justifications
From the above mentioned information, it has been concluded
that innovation is essential for enterprise by improving its
performance level and productivity. It has been identified that
innovation skills and knowledge has positive influence and
relationship with business enterprise. Innovation supported
company by improving its brand image, increasing
profitability, retaining employees for longer time, increasing
customer base etc.

References
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European Journal of Development Research, 30(3), pp.389-407.
Edquist, C. and et. al., 2018. On the meaning of innovation performance: Is the synthetic indicator of the Innovation Union Scoreboard flawed?. Research
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