Tesla vision and mission
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Tesla vision and mission its core values and challenges it face.
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Tesla vision and mission
- 1. Tesla Module 4 CFO Strategy Program 2019 Gulf Group Presented by: Kashif Zafar
- 2. Vision , Mission & Core Values
- 3. Tesla Inc.’s Mission Statement “to accelerate the world’s transition to sustainable energy.”
- 4. “to accelerate the world’s transition to sustainable energy.” • This new statement indicates a slight but significant shift in the company’s business, to address market opportunities for renewable energy. In a way, the new corporate mission recognizes the relevance of the firm’s batteries and related energy storage products in markets in addition to the electric vehicle market.
- 5. Tesla Inc.’s mission statement has the following notable components: TO ACCELERATE THE WORLD’S TRANSITION TO SUSTAINABLE ENERGY
- 6. Tesla Inc.’s Vision Statement “to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.”
- 7. Significant components in Tesla Inc.’s vision statement MOST COMPELLING CAR COMPANY 21ST CENTURY THE WORLD’S TRANSITION TO ELECTRIC VEHICLES
- 8. Tesla’s Corporate Mission & Corporate Vision – Analysis & Recommendations Tesla, Inc.’s mission statement is satisfactory in terms of presenting the company’s goals. It adequately covers the kinds of products that the company sells, the market scope of the business, and the market position of the company. However, it does not provide adequate information about the general direction of Tesla’s organizational development. Thus, a recommendation is to improve the corporate mission by including more details about the company’s approaches in fulfilling its corporate vision. Tesla Inc.’s vision statement effectively describes business aims. However, it does not cover current business endeavors. For example, while the corporate mission statement has already changed to consider “sustainable energy,” the corporate vision still focuses on “electric vehicles.” In this regard, a recommendation is to adjust Tesla Inc.’s vision statement to reflect the organization’s increasing interest in products other than electric vehicles.
- 9. Core Values For many employees, the fast-paced nature of being at the forefront of technology is the main draw. People who thrive on being stimulated are engaged by the constant new challenges. On the other hand, for those who really believe in global sustainability, being a direct part of this environmental enterprise is enough. By continually emphasizing Tesla’s mission, the team is rewarded by the knowledge that it’s playing a part in reshaping green technology. However, innovation sometimes comes at a price. Over 180 Glassdoor reviews mention poor work-life balance and a further 160 talk about long hours (“the rumours are true. You will work TREMENDOUSLY hard”). Another recurring comment is around how strategies and processes are constantly changing, and communication isn’t always good – possibly a side effect of working for an innovative tech leader. innovation sometimes comes at a price.
- 10. Tesla Core Values Driven by Mission
- 11. Core Values 1. Move fast 2. Do the Impossible 3. Constantly Innovate 4. Reason from “First Principles” 5. Think Like Owners 6. We are ALL IN
- 12. “Culture eats strategy for breakfast” -Peter Drucker The Rocky Road
- 13. The Rocky Road “Culture eats strategy for breakfast”
- 14. Reality Check
- 15. Reality Check 1 2 3 4 5 Elon has problems Regulatory vows Are Mission of Elon Musk aligned with share holders? Alignment Can Tesla sustain Mission driven strategy? Sustainability Tesla strategy has changed rather quickly High Investment & Strategy changes
Editor's Notes
- The “to accelerate” component of the corporate mission statement establishes Tesla’s role in pushing the industry toward advanced technologies for sustainable business and products that rely on renewable energy. The corporate mission also mentions “the world’s transition,” which indicates the company’s expectation of successful dominance in the global market for electric automobiles and related products. This component directly relates with the corporate vision statement’s emphasis on the global market. Moreover, the change from “sustainable transport” to “sustainable energy” shows that Tesla, Inc.’s corporate mission statement evolves to match the current strategic objectives of the business. For example, the company used to focus on producing electric automobiles only. However, this company analysis case shows that the growing demand for renewable energy is now reflected in the corporation’s improved business scope, to cover products like batteries and other potentially profitable renewable energy solutions in the future.
- --- 1. Move fast 0:05 The ability to rapidly respond to trends and changes in the market drives competitive advantage. This helps building resilience through speedy response to current issues and challenges in the automotive industry 2. Do the Impossible 2:30 Think outside the box; act unconventional. Go beyond conventional limits of productivity and creativity in automotive design. This condition opens new doors for the company to improve its performance 3. Constantly Innovate 5:21 Innovation is at the heart of what we do. Innovation helps develop cutting-edge electric cars and related products. Tesla must innovate continuously to maintain its competitive advantage. 4. Reason from “First Principles” 6:03 Rather than making analogies, identify root factors to understand and solve problems. Use first principles to fulfill your job 5. Think Like Owners 8:52 Maintain a mindset supportive of business development. Act like owners. Take responsibility and accountability in the job and the overall performance of the business 6. We are ALL IN 8:52 A team that works to improve the business. Teamwork develops synergy and makes the corporate culture effective in maximizing benefits from employees’ talents and skills