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Res Manufacturing was awarded a five-year contract from Tesla Motors to provide stamped parts and assemblies for Tesla's Model S electric vehicle. This contract helped Res grow its staff by 20% and boosted its revenues by 31% in 2012 as it diversified its customer base away from a previous dependency on the automotive sector. Res leadership credits process improvements using the Toyota Production System and a focus on problem-solving with its success in winning new business and adapting to changing markets.
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Running head: tesla, Inc. analysis 1
tesla, Inc. analysis 20Undergraduate Capstone Paper
Tesla, Inc.
Blaine Smith
February 26, 2020
University of Redlands School of Business
BUSB 485 SD12
Professor Richard Doyle
1. Executive Summary ........................................................................................................... 3
2. Financial Management BUSB 361 .................................................................................... 6
2.1. SWOT Analysis Table ................................................................................... 6
2.2 Supplementary Financial Metrics Over Last Ten Years ................................ 9
2.3 Stock Market Performance ........................................................................... 11
3. Principles of Marketing BUSB 340 .................................................................................. 13
3.1. SWOT Analysis Table .................................................................................. 13
4. Strategic Management BUSB 481 .................................................................................. 19
4.1. SWOT Analysis Table .................................................................................. 19
5. Business Information Systems BUSB 333 ...................................................................... 24
2.1. SWOT Analysis Table .................................................................................. 24
6. Managing and Leading Organizations BUSB 330 .......................................................... 29
2.1. SWOT Analysis Table .................................................................................. 30
7. Conclusion ....................................................................................................................... 35
Reason for the Paper:
This paper will be a strategic audit of Tesla to fulfill the requirements for a CAPSTONE paper, utilizing the concepts of five different courses in my undergraduate program at the University of Redlands. The five courses are as follows:
揃 Business Information Systems
揃 Financial Management
揃 Managing and Leading Organizations
揃 Principles of Marketing
揃 Strategic Management
Each section will be labeled, with numerous key concepts highlighted to demonstrate my ability to apply what I learned to a real world organization; Tesla. I will also be employ a SWOT analysis through the lens of each course to identify strengths, weaknesses, opportunities, and threats. I will identify the most important issues and opportunities, recommending strategies to mitigate damage and take advantage of opportunities. Improvement may not be instantaneous, but the findings will provide a direction for the company, providing them with objectives to develop a strategic plan around.
Background of Tesla:
Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning, later joined by Elon Musk, J. B. Straubel and Ian Wrigh.Running head tesla, Inc. analysis 1tesla, Inc. analysis 20U.docx
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Running head: tesla, Inc. analysis 1
tesla, Inc. analysis 20Undergraduate Capstone Paper
Tesla, Inc.
Blaine Smith
February 26, 2020
University of Redlands School of Business
BUSB 485 SD12
Professor Richard Doyle
Table of Contents
1. Executive Summary ........................................................................................................... 3
2. Financial Management BUSB 361 .................................................................................... 6
2.1. SWOT Analysis Table ................................................................................... 6
2.2 Supplementary Financial Metrics Over Last Ten Years ................................ 9
2.3 Stock Market Performance ........................................................................... 11
3. Principles of Marketing BUSB 340 .................................................................................. 13
3.1. SWOT Analysis Table .................................................................................. 13
4. Strategic Management BUSB 481 .................................................................................. 19
4.1. SWOT Analysis Table .................................................................................. 19
5. Business Information Systems BUSB 333 ...................................................................... 24
2.1. SWOT Analysis Table .................................................................................. 24
6. Managing and Leading Organizations BUSB 330 .......................................................... 29
2.1. SWOT Analysis Table .................................................................................. 30
7. Conclusion ....................................................................................................................... 35
Executive Summary
Reason for the Paper:
This paper will be a strategic audit of Tesla to fulfill the requirements for a CAPSTONE paper, utilizing the concepts of five different courses in my undergraduate program at the University of Redlands. The five courses are as follows:
揃 Business Information Systems
揃 Financial Management
揃 Managing and Leading Organizations
揃 Principles of Marketing
揃 Strategic Management
Each section will be labeled, with numerous key concepts highlighted to demonstrate my ability to apply what I learned to a real world organization; Tesla. I will also be employ a SWOT analysis through the lens of each course to identify strengths, weaknesses, opportunities, and threats. I will identify the most important issues and opportunities, recommending strategies to mitigate damage and take advantage of opportunities. Improvement may not be instantaneous, but the findings will provide a direction for the company, providing them with objectives to develop a strategic plan around.
Background of Tesla:
Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning, later joined by Elo ...Table of Contents .docx
Table of Contents .docxmattinsonjanel
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Table of Contents
Pages
1. Executive Summary DUE WEEK 7.
2. Company Description Due WEEK 1...
3. Strategic Focus and Plan DUE WEEK 1
a. Mission/Vision Statements..
b. Goals..
c. Core Competency and Sustainable Competitive Advantage.
4. Situation Analysis DUE WEEK 4
a. SWOT analysis
Internal Strengths and Weaknesses...
External Opportunities and Threats.
b. Industry Analysis
c. Competitor Analysis..
d. Company Analysis.
e. Customer Analysis.
5. Market-Product Focus DUE WEEK 4
a. Marketing and Product Objectives..
b. Target Markets...
c. Points of Difference
d. Positioning...
6. Marketing Program DUE WEEK 5
a. Product Strategy.
b. Price Strategy..
c. Promotion Strategy.
d. Place (Distribution) Strategy..
7. Financial Data and Projections DUE WEEK 5
a. Past Sales Revenues.
b. Five-Year Projections.
8. Organizational Structure DUE WEEK 7.
9. Implementation DUE WEEK 7.
10. Evaluation and Control DUE WEEK 7
11. Bibliography DUE WEEKS 1, 4, 5 & 7........................................................................
48
MP-1: Marketing Plan Outline
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Were now capturing massive amounts of data from our vehicles, says Volvo Car Corporations Rich Strader.And there is a compelling opportunity to turn that resource into something that not only helps us build better cars, but also helps the customer have a better experience.
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At Volvo, those huge volumes are streamed into a centralized analysis hub, the Volvo Data Warehouse, alongside data from customer relationship systems, dealership systems, and product development and design systems. And Volvos ability to draw insight from this multi-terabyte resource is creating clear business advantage, says Strader, who has now ...Tesla, Inc. (previously known as Tesla Motors, Inc.), is an Am.docx
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Tesla was established in July 2003, by engineers Marc Tarpenning and Martin Eberhard, under the name Tesla Motors. The organization's name is a honor to Nikola Tesla who was an engineer. In the initial stages of Series A funding, Tesla Motors was joined by Elon Musk, Ian Wright and Ian Wright, everyone who joined the company are permitted to call themselves as co-founders of the corporation. Elon Musk, who in the past worked as Chairperson and is the current CEO, said that he envisioned Tesla Motors as an independent automaker and technology organization, went for in the long run offering electric vehicles at costs reasonable to the normal customer. Tesla Motors changed its name to Tesla in February 2017 [footnoteRef:2]. [2: Tesla motors Inc.]
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External Analysis
The external analysis will use various frameworks to analyze the following: changes and trends in the environment, Porters Five Forces industry analysis, competitor analysis, industry segmentation and demand issues and opportunities in the industry.
This section will use frameworks to describe the external factors, such as environmental changes, industry position and competitors, that affect Atlassian. It will include a brief introduction to the company, changes and trends in the environment, industry analysis, analysis of existing competitors and industry segmentation and demand issues. These analyses provide a description of the industry landscape, which allows for informed and thoughtful conception of opportunities in the industry.
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Industry Analysis: Porters Five Forces
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1
14
Global Business and Strategy
EU Business School
Calvin Kammer
Introduction
A global business is a company that serves or operates in different countries worldwide. Due to international market openness, the global business environment has become so dynamic thus, the sustainability of any company will depend on the business strategy adopted (Morgan, et al 2019). To this end, this report will evaluate the global business and strategic objectives of Tesla and provide recommendations on the Company's strategic roadmap.
Background of Tesla Company
Tesla Company is an American automobile firm that has pioneered the world transition to eco-friendly energy by designing and manufacturing solar roof tiles, electric cars, and solar panels. The Company was established in 2003, and it operates in the US and China, but it plans to establish a manufacturing plant in Germany. Tesla reported improved sales in 2021 recording a total of 936,172 vehicles which represented an 87% growth compared to 2020 sales (Jiang, Shi & Li 2021).
External Business Environment Analysis
The external business environment is macro-factors that influence the business's operations but which are over and above the control of a single business entity Any reference?. To adequately understand how these factors impact the industry, we shall employ the PESTLE analysis. PESTLE analysis is a macro environment analysis tool which evaluates the external factors which influences the performance of the business. The analysis looks at how the political, economic, social, technological and legal elements impacts the operations of the company (Achinas et, al.2019). This model is relevant to case study of Tesla Company because it will give an in-depth understanding of the companys external business environment and how the factors have impacted on its operation.
PESTLE ANALYSIS
Political
Sholihah, et al. (2019) notes that,Political factorsare government policies that influence businesses. For instance, trade policies can restrain a company's expansion and industry performance. The political factors have been significant in influencing the growth of Tesla Company. The Company can expand its financial muscle through government incentives related to efforts by countries in different parts of the world to minimize carbon release. The electrical and solar products of Tesla are likely to have a global acceptance, thus creating opportunities for faster growth. Similarly, the political stability in the US, China, and other parts of the world offers more excellent prospects for Tesla to make market penetration and record more revenue.
Economic
Economic dynamics such as growth rate and exchange rates influence big business like Tesla. For instance, the electric cars manufactured by Tesla have presented an opportunity for it to reduce battery costs leading to the affordability of the firms products. Additionally, the Company's products have been considered a panacea to renewable ...114Global Business and StrategyEU Business
114Global Business and StrategyEU BusinessSantosConleyha
油
1
14
Global Business and Strategy
EU Business School
Calvin Kammer
Introduction
A global business is a company that serves or operates in different countries worldwide. Due to international market openness, the global business environment has become so dynamic thus, the sustainability of any company will depend on the business strategy adopted (Morgan, et al 2019). To this end, this report will evaluate the global business and strategic objectives of Tesla and provide recommendations on the Company's strategic roadmap.
Background of Tesla Company
Tesla Company is an American automobile firm that has pioneered the world transition to eco-friendly energy by designing and manufacturing solar roof tiles, electric cars, and solar panels. The Company was established in 2003, and it operates in the US and China, but it plans to establish a manufacturing plant in Germany. Tesla reported improved sales in 2021 recording a total of 936,172 vehicles which represented an 87% growth compared to 2020 sales (Jiang, Shi & Li 2021).
External Business Environment Analysis
The external business environment is macro-factors that influence the business's operations but which are over and above the control of a single business entity Any reference?. To adequately understand how these factors impact the industry, we shall employ the PESTLE analysis. PESTLE analysis is a macro environment analysis tool which evaluates the external factors which influences the performance of the business. The analysis looks at how the political, economic, social, technological and legal elements impacts the operations of the company (Achinas et, al.2019). This model is relevant to case study of Tesla Company because it will give an in-depth understanding of the companys external business environment and how the factors have impacted on its operation.
PESTLE ANALYSIS
Political
Sholihah, et al. (2019) notes that,Political factorsare government policies that influence businesses. For instance, trade policies can restrain a company's expansion and industry performance. The political factors have been significant in influencing the growth of Tesla Company. The Company can expand its financial muscle through government incentives related to efforts by countries in different parts of the world to minimize carbon release. The electrical and solar products of Tesla are likely to have a global acceptance, thus creating opportunities for faster growth. Similarly, the political stability in the US, China, and other parts of the world offers more excellent prospects for Tesla to make market penetration and record more revenue.
Economic
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Answer both questions fully and provide creditable sources. Original work now plagiarism
1. Consider the position for which you are interviewing candidates and post one of your interview questions, including the job title. Discuss why you developed this question and what response you would expect a potential candidate to provide.
2. It is important to ensure that a candidate fits with the culture of the organization. What actions can be taken in the recruitment and selection process to find the best candidate that fits with the culture of the organization?
Tesla: Company and Industry Analysis
Florida Institute of Technology
Group 3
Lakesha Burton Alann Gutierrez Meshayla Jones Trent Laney Leah Riley
Table of Contents
Company Background 3
Analysis 4
Issues and Recommendations 6
References 7
Exhibits 8
Company Background
ALL-DISCUSSION
*Everyone will gather some info and post in a discussion; Alann will compile into cohesive section.
*MAKE SURE TO PROPERLY CITE REFERENCES IN APA AS YOU COLLECT INFO--POST ALL
INFO COMPLETE WITH IN-TEXT CITATIONS AND REFERENCES.
Analysis
o Competitive advantage and business models TRENT
o Mission, vision, values and corporate governance TRENT
o PESTEL analysis, five force analysis, driving forces, and strategic group maps for the industry
ALANN
a. PESTEL analysis:
1. Political factors
2. Economic conditions in the firms general environment (local, country, regional,
worldwide)
3. Sociocultural forces
4. Technological factors
5. Environmental factors (concerning the natural environment)
6. Legal/regulatory conditions
b. Five Forces analysis:
1. Competition from rival sellers
2. Competition from potential new entrants to the industry
3. Competition from producers of substitute products
4. Supplier bargaining power
5. Customer bargaining power
c. Driving Forces (pg. 68-70 in text for list of potential/usual major driving forces; should be no
more than 3 chosen, per text)
d. Strategic Group Map(s) (industry)
1. Toyota Motor Corporation
2. Volkswagen
3. Daimler
4. BMW
5. Honda Motor Company
6. General Motors Company
7. Tesla
8. Ford Motor Company
9. Nissan
10. Fiat Chrysler Automobiles
則 A brief history of the industry (development stages)
則 You may use business models, market share, perceived quality and other critical and
relevant variables to identify viable strategic groups in the industry
則 Competitor analysis what other companies are currently doing
o SWOT, value chains, and benchmarking Leah
Strengths Innovative process - allows customers to make a
purchase that has a better effect on the environment,
but maintains a high-end and luxury status, which
appeals to a wealthier market base.
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We work in partnership with our global client base, OEM vehicle manufacturers, 1st and 2nd Tier Suppliers and SME, R&D Centres, Design Consultancies, Test Facilities, Automotive Supply Chain and Aftermarket businesses. Understanding our clients business enables us to identify and attract the best talent available. We ensure our clients satisfy their human capital needs and our candidates find the best possible career opportunities.MGMT-600 Team C Business Plan-2
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How medium-sized businesses can win the battle for talentThe Economist Media Businesses
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Medium-sized companies (the definition varies by country) also have some unique challenges. Those that are in the fastest-growing verticals usually face competition from their larger peers, whether in the marketplace or in the quest for top talent. In particular, a medium-sized company can often find itself in a hiring bidding war with a larger company for the same personor for a person the larger company already employs. If the medium-sized company doesnt win the bidding war, the disappointment is magnified. Medium-sized companies relatively small staff sizes make each hire that much more important.
This reportwritten by The Economist Intelligence Unit and commissioned by American Express Global Business
Travelexamines the hiring obstacles faced by medium-sized companies in five of the worlds biggest economies: Australia, Canada, France, the UK and US; it also looks at the strategies that companies are employing to overcome those obstacles. The report is based on analyses of these countries job markets, employment trends, populations and regulations, as well as on interviews with executives of medium-sized companies and industry experts.
Business Leaders as Catalysts for Change
Business Leaders as Catalysts for ChangeStrategy&, a member of the PwC network
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The document summarizes an interview with George Oliver, CEO of Johnson Controls. Some key points:
- Oliver believes global economic growth will continue in the coming years but will slow eventually. He focuses on reinvesting in innovation to prepare.
- To attract talent, companies must offer purposeful work, diversity and inclusion, and financial success. Automation will impact all companies and require developing new technical skills.
- The future of industrial infrastructure involves converging hardware and software, using data analytics from sensors to optimize buildings and create new solutions. Leadership requires being both a technology and industrial company.
- Building trust requires living by strong values like integrity, understanding customers, teamwork, and sustainability. Success comesGAFAnomics Tesla Volume 2 - Is Tesla the disruptor we need?
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Valued at 210 billion dollars, that is to say the valuations of Ford, GM, Draimler, PSA and Uber combined, Tesla, the leading company in electric car sales, recently became the world's leading manufacturer ahead of Toyota. It is because the company has succeeded in breaking the codes of a century-old industry, symbol of the industrial model of the 20th century, that Tesla deserves its place at the top of the list of the most disruptive companies. Fabernovel presents its new study "Is Tesla the disruptor we need? which reveals the secrets of its success but also provides thought on the future of mobility, which the company has not disrupted to date. Automotive Logistics Magazine - The Automotive South -Working II
Automotive Logistics Magazine - The Automotive South -Working IIJim Romeo
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The document discusses the trend of automotive manufacturers locating plants in the Southern US. This is driven by several factors, including lower unionization rates, lower labor costs, and incentives from state governments who view auto manufacturing jobs as important for local economies. Toyota, Kia, and other brands have opened new facilities in places like Mississippi, Georgia, and Texas. Suppliers are also locating near assembly plants to enable just-in-time delivery.Accelerating Change - An Automotive Leadership Wake-up Call_Korn Ferry Instit...
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The TeamLease Industry Salary Primer - 2013valuvox
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Temp and Perm salaries have been seen to be converging for some years now. During our course of an annual analysis of salaries we found that the margin of difference between the two is not statistically significant anymore and has, therefore, practically diminished. This meant, reporting a unified or a single salary across the temp and perm domains is now feasible.
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Six sigma yellow beltTyzenia Renee Williams, Tonya wright, Ter.docxwhitneyleman54422
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Six sigma yellow belt
Tyzenia Renee Williams, Tonya wright, Terrence willburn, Melissa Hoolulu, John banzali, ben
Ops 571
Professor soltys
March 19, 2018
1
Customers and Their Priorities
CUSTOMERS
Businesspeople
Travelers
Younger generation
PRIORITIES
Affordability
Incentives
Consideration
Many people choose Tesla for various reasons. Business people require the most luxury form of transportation and want to be seen getting out of a beautiful car as they pull up to work or family excursions. Each buyer has a different reason for purchasing the Tesla and each reason has a corresponding priority. Business people may prefer the convenience option that accompanies the car. Teslas are full of provisions for satisfying customer needs, like its electrical feature and environmental safeties. The Tesla are made to order by their customers with the options that they choose, certain items differ, but the convenience of service is available. Offering Wi-Fi is a reasonable perk for keeping customers connected with technology. All customers have similar opportunities and customers have several options. Tesla is certainly a competitor that strives to provide the appropriate, and necessary, amenities for their loyal customers. Customers prefer options, ease of travel, and particular amenities to get the most out of this beautiful car. In addition, employee and customer incentive programs are often a consideration for loyal customers. Incentives allow the customer affordability and economical provisions along with particular in Tesla perks. Other considerations, like safety and the green initiative exhibit the pensiveness of the company encourages customers to order their vehicles months ahead of time when they trade it in trade it back to the Tesla company.
2
Business objectives
To sell as many high quality units as possible
Maintain high customer satisfaction
Maintain a credible reputation
Six Sigma is a business improvement program that was designed originally for manufacturing companies However, its efficiency in furthering business objectives has made its way to a wide variety of project management, sales and marketing, and other organizations in need of an increase in quality and efficiency by identifying defects in the system and correcting it (Madhani, 2017). High end car brands such as Tesla have used Six Sigma to ensure quality in its products. Like any business, the objective is to sell as many high quality units as possible while maintaining high customer satisfaction, hence, a very credible reputation in the automotive industry.
Tesla manufacturers use this program to produce high quality cars that meet the high expectations of its clients. Ensuring that what they purchase with the very expensive car is worth every cent, Six Sigma professionals check every detail in the process of creating a masterpiece of a car.
3
Customer needs
Timely production
Detail precision with specifications
Inventory management
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A global business is a company that serves or operates in different countries worldwide. Due to international market openness, the global business environment has become so dynamic thus, the sustainability of any company will depend on the business strategy adopted (Morgan, et al 2019). To this end, this report will evaluate the global business and strategic objectives of Tesla and provide recommendations on the Company's strategic roadmap.
Background of Tesla Company
Tesla Company is an American automobile firm that has pioneered the world transition to eco-friendly energy by designing and manufacturing solar roof tiles, electric cars, and solar panels. The Company was established in 2003, and it operates in the US and China, but it plans to establish a manufacturing plant in Germany. Tesla reported improved sales in 2021 recording a total of 936,172 vehicles which represented an 87% growth compared to 2020 sales (Jiang, Shi & Li 2021).
External Business Environment Analysis
The external business environment is macro-factors that influence the business's operations but which are over and above the control of a single business entity Any reference?. To adequately understand how these factors impact the industry, we shall employ the PESTLE analysis. PESTLE analysis is a macro environment analysis tool which evaluates the external factors which influences the performance of the business. The analysis looks at how the political, economic, social, technological and legal elements impacts the operations of the company (Achinas et, al.2019). This model is relevant to case study of Tesla Company because it will give an in-depth understanding of the companys external business environment and how the factors have impacted on its operation.
PESTLE ANALYSIS
Political
Sholihah, et al. (2019) notes that,Political factorsare government policies that influence businesses. For instance, trade policies can restrain a company's expansion and industry performance. The political factors have been significant in influencing the growth of Tesla Company. The Company can expand its financial muscle through government incentives related to efforts by countries in different parts of the world to minimize carbon release. The electrical and solar products of Tesla are likely to have a global acceptance, thus creating opportunities for faster growth. Similarly, the political stability in the US, China, and other parts of the world offers more excellent prospects for Tesla to make market penetration and record more revenue.
Economic
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A global business is a company that serves or operates in different countries worldwide. Due to international market openness, the global business environment has become so dynamic thus, the sustainability of any company will depend on the business strategy adopted (Morgan, et al 2019). To this end, this report will evaluate the global business and strategic objectives of Tesla and provide recommendations on the Company's strategic roadmap.
Background of Tesla Company
Tesla Company is an American automobile firm that has pioneered the world transition to eco-friendly energy by designing and manufacturing solar roof tiles, electric cars, and solar panels. The Company was established in 2003, and it operates in the US and China, but it plans to establish a manufacturing plant in Germany. Tesla reported improved sales in 2021 recording a total of 936,172 vehicles which represented an 87% growth compared to 2020 sales (Jiang, Shi & Li 2021).
External Business Environment Analysis
The external business environment is macro-factors that influence the business's operations but which are over and above the control of a single business entity Any reference?. To adequately understand how these factors impact the industry, we shall employ the PESTLE analysis. PESTLE analysis is a macro environment analysis tool which evaluates the external factors which influences the performance of the business. The analysis looks at how the political, economic, social, technological and legal elements impacts the operations of the company (Achinas et, al.2019). This model is relevant to case study of Tesla Company because it will give an in-depth understanding of the companys external business environment and how the factors have impacted on its operation.
PESTLE ANALYSIS
Political
Sholihah, et al. (2019) notes that,Political factorsare government policies that influence businesses. For instance, trade policies can restrain a company's expansion and industry performance. The political factors have been significant in influencing the growth of Tesla Company. The Company can expand its financial muscle through government incentives related to efforts by countries in different parts of the world to minimize carbon release. The electrical and solar products of Tesla are likely to have a global acceptance, thus creating opportunities for faster growth. Similarly, the political stability in the US, China, and other parts of the world offers more excellent prospects for Tesla to make market penetration and record more revenue.
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Table of Contents
Company Background 3
Analysis 4
Issues and Recommendations 6
References 7
Exhibits 8
Company Background
ALL-DISCUSSION
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o Competitive advantage and business models TRENT
o Mission, vision, values and corporate governance TRENT
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ALANN
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2. Economic conditions in the firms general environment (local, country, regional,
worldwide)
3. Sociocultural forces
4. Technological factors
5. Environmental factors (concerning the natural environment)
6. Legal/regulatory conditions
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2. Competition from potential new entrants to the industry
3. Competition from producers of substitute products
4. Supplier bargaining power
5. Customer bargaining power
c. Driving Forces (pg. 68-70 in text for list of potential/usual major driving forces; should be no
more than 3 chosen, per text)
d. Strategic Group Map(s) (industry)
1. Toyota Motor Corporation
2. Volkswagen
3. Daimler
4. BMW
5. Honda Motor Company
6. General Motors Company
7. Tesla
8. Ford Motor Company
9. Nissan
10. Fiat Chrysler Automobiles
則 A brief history of the industry (development stages)
則 You may use business models, market share, perceived quality and other critical and
relevant variables to identify viable strategic groups in the industry
則 Competitor analysis what other companies are currently doing
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Tyzenia Renee Williams, Tonya wright, Terrence willburn, Melissa Hoolulu, John banzali, ben
Ops 571
Professor soltys
March 19, 2018
1
Customers and Their Priorities
CUSTOMERS
Businesspeople
Travelers
Younger generation
PRIORITIES
Affordability
Incentives
Consideration
Many people choose Tesla for various reasons. Business people require the most luxury form of transportation and want to be seen getting out of a beautiful car as they pull up to work or family excursions. Each buyer has a different reason for purchasing the Tesla and each reason has a corresponding priority. Business people may prefer the convenience option that accompanies the car. Teslas are full of provisions for satisfying customer needs, like its electrical feature and environmental safeties. The Tesla are made to order by their customers with the options that they choose, certain items differ, but the convenience of service is available. Offering Wi-Fi is a reasonable perk for keeping customers connected with technology. All customers have similar opportunities and customers have several options. Tesla is certainly a competitor that strives to provide the appropriate, and necessary, amenities for their loyal customers. Customers prefer options, ease of travel, and particular amenities to get the most out of this beautiful car. In addition, employee and customer incentive programs are often a consideration for loyal customers. Incentives allow the customer affordability and economical provisions along with particular in Tesla perks. Other considerations, like safety and the green initiative exhibit the pensiveness of the company encourages customers to order their vehicles months ahead of time when they trade it in trade it back to the Tesla company.
2
Business objectives
To sell as many high quality units as possible
Maintain high customer satisfaction
Maintain a credible reputation
Six Sigma is a business improvement program that was designed originally for manufacturing companies However, its efficiency in furthering business objectives has made its way to a wide variety of project management, sales and marketing, and other organizations in need of an increase in quality and efficiency by identifying defects in the system and correcting it (Madhani, 2017). High end car brands such as Tesla have used Six Sigma to ensure quality in its products. Like any business, the objective is to sell as many high quality units as possible while maintaining high customer satisfaction, hence, a very credible reputation in the automotive industry.
Tesla manufacturers use this program to produce high quality cars that meet the high expectations of its clients. Ensuring that what they purchase with the very expensive car is worth every cent, Six Sigma professionals check every detail in the process of creating a masterpiece of a car.
3
Customer needs
Timely production
Detail precision with specifications
Inventory management
From the time a.RES article
- 1. MANUFACTURING ROUNDUP Diversified customer base pays off for Res Manufacturing Jan 4, 2013, 5:00am CST INDUSTRIES & TAGS Jeff EngelReporterMilwaukee Business Journal When Res Manufacturing Co. beat out foreign competition for a contract withTesla Motors Inc. in 2011, it wasnt just a big win for the Milwaukee company. It was also symbolic of what company leaders say is a growing trend in American manufacturing. Res was awarded a five-year contract from Palo Alto, Calif.-based Tesla to provide multiple stamped parts and assemblies for Teslas Model S sedan, an electric vehicle with a range of about 300 miles on a single charge.
- 2. John Wittmann...We wanted to focus some of our business on areas we thought would be SCOTT PAULUS Tesla selected Res over other foreign and U.S. competitors, including a Chinese company supplying similar components at the time. The Tesla contract is one of the reasons Res is growing and boosting its staff by nearly 20 percent through mid-2013, to about 125 permanent employees, company leaders said. I think were on the threshold of a manufacturing renaissance here in the U.S. if we continue to do the right things, said John Wittmann, vice president of sales and marketing. Theres a lot of small companies out there that have had to become lean. Its allowing us to go toe-to-toe with foreign competitors and bring jobs back to the U.S. Res, 7801 N. 73rd St., is a supplier of stamped components, value-added assemblies and services for the automotive, agriculture, construction, light- emitting diode, cookware and other industries. Its parent company is the family-owned DLSM Inc., Milwaukee, which also owns Kondex Corp., Lomira. Res posted 31 percent revenue growth in 2012, Wittmann said, as it continued to evolve post-recession. Its accolades this year include two quality awards from partner Hi-Lex America Inc., Battle Creek, Mich., and one from Tesla. Five years ago, the automotive sector filled 90 percent of Res business. Next year that numberwill have shrunk to 65 percent as the company diversifies, with an ultimate goal of 50 percent, Wittmann said.
- 3. The company has partly shifted its focus to clean technology, such as electric vehicles and commercial LED lighting, Wittmann said. We wanted to focus some of our business on areas we thought would be good growth products as well as serving society, Wittmann said. When asked if company leaders are concerned about the strength of some of those new sectors, such as an electric vehicle market that has yet to really take off, Wittmann said they have realistic expectations about those niches. We try to pursue market leaders that have a very good business model, Wittmann said. Res leaders also have sought to improve the companys processes, specifically in the past year, by beginning to implement the Toyota Production System. The initiative is aimed at improving processes on the shopfloor and the back office, as well as creating a companywide mindset of problem solving, said Steve Pankowski, manufacturing manager. Confident approach Lesa Nichols, a former Toyota Motor Corp. employee who now works with the Greater Boston Manufacturing Partnership, has been advising Res as it applies the Toyota Production System. She has been impressed with how each member of the staff takes a confident approach to tackling issues. Theyre very good at being able to respond to (problems), not just put a Band- Aid on it, Nichols said. I think part of the reason theyre able to (grow) is that theyve got this extra capability of high-level problem solving. As far as I can tell, theyve always had a can-do kind of spirit and obviously thats going to be attractive to customers. Like many manufacturers, Res biggest challenge right now is finding workers with the right skills to hire for open positions, Pankowskisaid.
- 4. But Pankowskisaid soft skills like teamwork, attitude and work ethic weigh heavier than manufacturing experience in hiring decisions for production positions at Res. He doesnt hire for a specific job duty, partly because each new business contract often means a new set of processes and equipment changes. I can train on all the hard skills out there, Pankowskisaid. (Workers with the right soft skills) are hard to find. But if I can get people like that, Ill have a much stronger team in the long run. I truly believe we have a higher skilled and more flexible work force than most companies out there.