特斯拉 案例分析

1、IX. CASE AUTHORS TEACHING NOTE Not AvailableX. STUDENT STRATEGIC AUDITI. Current SituationA. Current PerformanceFounded by Martin Eberhard and Marc Tarpenning in 2003, Tesla went public in June 2010 with IPO at $17 a share, raised $226.1 million in its first stock debut. Since Elon Musk took over as

2、 the CEO, Tesla has been one of the most innovative automotive producers in the world, earning recognition through the Global Sustainability Innovation Award in 2009. Tesla purchased former NUMMI factory in Fremont, California, the most advanced and cleanest automotive production plant in the world.

3、 Both Daimler and Toyota have also invested $50 million each to form strategic alliances. Tesla will provide electric vehicle (EV) expertise for their car development, while Toyota and Daimler will provide opportunities for Tesla to diversify its revenue streams, network, and access to extensive sup

4、ply chains. Toyota also has formed a partnership with Panasonic to collaborate on battery cell development.B. Strategic Posture1. Teslas current mission, objectives, strategies, and policies are both clearly stated and can be seen from its performance.2. Tesla is in the electric automobile business.

5、 Its mission is “To develop alternative energy vehicles for people who love to drive.” It is an appropriate statement for Tesla because its EVs are stylish and provide high-end performance for driving enthusiasts.3. The corporate, business and functional objectives are to 1) Achieve both growth in s

6、ales and profits, 2) Provide technological leadership in the field of electric vehicles and 3) Foster sustainability and social responsibility. These objectives are consistent with its strategic postures.4. The corporate, business and functional strategies are to pursue 1) Growth through innovation

7、and increased product offerings with development and sale of the Model S is to create higher demand and revenue, 2) Expansion through strategic alliances, from partnerships with Toyota and Daimler to supplying electric power trains to use in their electric vehicle design, 3) Sustainability and socia

8、l responsibility efforts through development of non-petroleum products and producing very little carbon emissions, 4) Product differentiation with focus on a high-priced, high-performance electric vehicles that compete against traditional performance cars, 5) Highly integrated marketing, sales and d

9、istribution efforts through its Tesla stores and 6) Increase international market share through its international expansion. These strategies are consistent with its strategic postures5. The policies are to focus on utilizing green energy & technology, and on producing luxurious, high performing

10、 EV. Tesla has extensive portfolio of intellectual properties from its proprietary technologies and soft wares that are used to manage efficiency, safety and controls. They are consistent with its strategic postures of producing high performance automobiles that use clean, environmental friendly sou

11、rces.6. Teslas current strategic postures reflect its international expansion plan. Tesla currently does not have international operations, all operations is based in its HQ in Palo Alto, California. It is on its way to opening a number of stores worldwide to increase customers knowledge of Teslas E

12、V.II. Corporate GovernanceA. Board of Directors1. The 8 members of BOD are Elon Musk, Brad Buss, Ira Ehrenpreis, Antonio Gracias, Steve Jurvetson, Prof. Dr. Herbert Kohler, Kimbal Musk and Larry Sonsini. They are all external directors, except Elon Musk, the Chairman, Product Architect and CEO of Te

13、sla.2. In total, the BODs own less than 10% shares of stock.3. The stock is publicly traded.4. The directors have diverse work experiences in industries such as design, engineering, finance, investment, software, law and corporate governance. They also have international experience necessary to supp

14、ort its international expansion.5. Most of them have been Teslas board members since its IPO.6. These board members are actively involved in Teslas strategic management. They actively participate and suggest its future directions.B. Top Management1. The top management consists of Elon Musk (Chairman

15、, Product Architect and CEO), JB Straubel (CTO), Deepak Ahuja (CFO), Franz Von Holzhausen (Chief Designer), George Blankenship (VP, Sales & Ownership Experience), Gilbert Passin (VP, Manufacturing), Eric Whitaker (General Counsel), Diarmuid OConnell (VP, Business Development), Arnnon Geshuri (VP

16、, HR), Peter Carlsson (VP, Supply Chain), and Jerome Guillen (Director of Model S Programs).2. The 11 executives have diverse work experiences, with backgrounds in different industries including technology, consulting, design, sales, and marketing. They are international experts in countries such as

17、 Japan, Germany, and other parts of Europe. 3. The top management has been responsible for Teslas performance over the past few years. They helped Tesla to strive in EV automobile industry.4. It has established a systematic approach to strategic management only to a certain extent due to Teslas natu

18、re of using innovation as its main drive of growth.5. The executives have been heavily involved in the strategic management process.6. N/A7. Strategic decisions are made ethically in a socially responsible manner. Being socially responsible is part of Teslas corporate culture. Its principle of devel

19、oping non-petroleum based vehicles clearly shows its commitment to foster sustainability.8. N/A9. Top management is sufficiently skilled to cope with likely future challenges. They have directed Tesla into the right direction towards overall growth.III. External Environment (EFAS refer Exhibit 1)A.

20、Societal Environment (PESTEL Analysis)1. Economya. Competing in an industry that is expanding. (O)i. Absolut market share is less relevant than how fast it is growing its market share.b. Massive budget deficit. (T)i. Members of Republican Party have focused their demands for budget cuts in the “disc

21、retionary spending” arena, which is where alternative energy funding falls.ii. EV industry has very few lobbyists and is more vulnerable to being targeted in budget cuts.c. The economic recovery has created more demand for higher priced, luxury vehicles. (O)d. Much more stable costs of electricity m

22、ake an electric vehicle more desirable. (O)i. The variability of oil prices, most of the times increasing oil price, means that traditionally powered vehicle owners cannot predict their fuel costs.e. EVs cost significantly more than traditional vehicles of similar style and performance. (T)2. Techno

23、logicala. Industry-related technology is always advancing in EV industry. (O) The technologies can be used to improve the EVs. They are related to intellectual properties, battery cell design and knowledge & skills of the workforce. Some are available for general use, however most technologies a

24、re proprietary. Many companies own patents of technologies that they developed in-house. These IPs will provide the companies with a competitive advantage. Development of new battery technology, by companies like Planar Energy, for EVs could also potentially provide more energy for a lower cost.3. P

25、olitical Legala. Various federal and state governmental agencies are currently supporting loan programs through the Department of Energy and the California Zero Emission Vehicle (ZEV) program. (O)b. Focus on decreasing U.S. dependence on petroleum products. (O)c. Global economic policies supporting

26、usage of environmentally sustainable products such as EVs. (O)d. Many regulations compliance required to develop EV. (T) i. Numerous safety requirements governed by the National Highway Traffic Safety Administration.ii. Battery safety and testing is heavily regulated by the Pipeline and Hazardous Ma

27、terials Safety Administration.iii. Automobile manufacturer and dealers regulations issues.iv. New regulation of minimum noise requirements, mandated by the Pedestrian Safety Enhancement Act of 2010.4. Socio-Culturala. Continuous shift towards green energy. (O)i. President Obama committed to funding

28、“green” initiatives through various vehicles.ii. Setting a goal of getting 1 million electric cars on the road by 2015.b. Customer perceptions of EV being underpowered, clunky looking, hard to change, quirky and undependable vehicles. (T)c. Absence of public infrastructure for recharging electric ve

29、hicle batteries. (T)i. High reliance on a network of available power sources.ii. Limit EV driving range.iii. Negative impact on the image of EV.All these forces are different in other regions of the world. US being one of the most developed countries in the world has one of the leading EV markets al

30、ong with countries, such as Germany, UK and Japan. Other less advanced countries such as China, India, and Russia have not reached the stage where the market is geared towards green technology.B. Task Environment1. Threat of New Entrants: Lowa. Hybrid technology is well understood by major automobil

31、e companies.i. They developed & marketed their own version of electric/gasoline hybrid vehicles.b. All-electric & hydrogen fuel-cell automobiles are unique technologies that need resources to develop.c. Energy storage and motor technologies are barriers to new competitors.d. Rechargeable bat

32、tery systems and fuel cells are newer technologies that require large investments in R&D.e. A competitor needs to develop its own technologies/partner with another company.2. Bargaining Power of Buyers: Moderatea. Fragmented industry, customers are highly influenced by trend.b. Target market is

33、people that make over $75,000 a year that is sensitive to environmental change.3. Threat of Substitute Products: Lowa. Substitutes are traditional cars, train, bus, bicycle, motorcycle.b. EV is the most environmentally friendly mode of transportation that satisfies high end customers.4. Bargaining P

34、ower of Suppliers: Moderatea. Parts are sourced from many suppliers that often are the single source of vendor.b. Companies are vulnerable to delays and increased cost.5. Rivalry Among Competing Firms: Higha. Primary competitors are Mitsubishi i-MiEV, Nissan LEAF, Chevy Volt, Toyota Prius, BMW Hydro

35、gen 7, Honda Clarity.b. Price of EVs is very competitive among them. Costs of production are very high due to no economies of scale. There is also no standardization in the process of development because EVs are a newer technology.6. Power of Other Stakeholders: Moderatea. Environmentalists typicall

36、y have certain degree of influence in the government. Especially as the new Presidential election is coming up.C. Summary of External FactorsBased on the PESTEL Analysis and Porters Five Forces, Tesla Motors, as an incumbent, is in an attractive global electric car producer industry. Due to the curr

37、ent part delays, and to keep up with intense competitive rivalry, Tesla has to try pushing down its fixed cost as low as possible. Tesla has to find ways to be less dependent to its vendors and accelerate its parts production. As the industry is in growth stage, Tesla also has to find ways to differ

38、entiate and reduce costs of its EV so that it would perfectly meets consumers demand in different parts of the world. Satisfied consumers will lead to long lasting brand loyalty, and this will ensure that Tesla will maintain its position as one of the most innovative EV producers in the world.IV. In

39、ternal Environment (IFAS refer Exhibit 2)A. Corporate Structure1. Teslas current corporate structure is centralized, with all the decisions made in the HQ. Tesla also relies heavily on its intellectual property and its patents. It is organized on the basis of functions which can be clearly seen from

40、 the role of the top-level executives. (S)2. The structure is clearly understood by everyone in the corporation (implied by case).3. Currently structure is consistent with its corporate strategies. (S)4. Not typically comparable to other companies of this type and size as most of similar operations

41、that focus on EV is a department within a large company. (S)B. Corporate Culture1. There is a share belief of employing innovation in works, its environment is fast paced and culturally unstructured. (S)2. The culture of innovation is consistent with its corporate strategies. (S)3. The culture holds

42、 the central role in solving problems faced by the corporation. (S)4. The culture is compatible with the employees diversity of backgrounds. Tesla employs techies and business hybrid employees to operate the company. (S)5. Teslas current operation, from production to delivery, is based in Palo Alto,

43、 California. The only operation abroad is the Tesla stores that are meant to educate the future customers. (W)C. Corporate Resources1. Marketinga. Teslas brand is heavily tied to the environment/green movement, generating a lot of free media publicity. The promotion strategy is a clear strength for

44、Tesla, especially considering that recommendations from friends and relatives, along with word of mouth, are the most influential factors for luxury/sport cars key demographic. (S)i. Marketing strategy is not clearly stated, they are merely implied from the performance.ii. They are consistent with t

45、he corporations overall strategic postures.b. Teslas current marketing outreach is limited due to its infancy and lack of resources. The marketing mix (4Ps) is targeted on the luxury vehicle markets. Tesla focuses on a very narrow segment of early adopters and environmentalists that have resources t

46、o afford their car. Along with its minimal product offering, Tesla is limited by its distribution and fulfillment infrastructure. It has dealerships in premium locations, regional sales representatives, and online ordering. Its sales representatives are usually in charge of arranging test drives and

47、 vehicle delivery to the customers. (S/W)i. Trends emerge is that customers are becoming more sensitive to green technologies and aware about energy conservation due to rise in oil prices. ii. The trend has significantly impacts past performance and will definitely boost future performance. iii. Thi

48、s analysis support the corporations past and pending strategic decisions.iv. Marketing does not provide Tesla with significant competitive advantage. Its current advantages in price are through $7,500 government tax credit for buying fuel efficient vehicles and the low cost of maintenance & fuel

49、.c. Teslas marketing performance compared to other corporations is not as advanced and rigorous. Tesla is much smaller than other EV producers that are part of larger automotive corporations. However, being one of the first to market high-performance EV, Tesla has a first-mover advantage in branding

50、 and customer experience.d. N/Ae. The only marketing initiatives that Tesla has outside of the United States are through its own stores.f. N/A2. Financea. Main objectives are to increase growth in profits and sales by creating and selling new models in addition to their only model that is currently

51、being sold, the Roadster, as well as providing technology leadership with its innovative electric batteries and related products. The next model is a four door sedan, named the Model S, and was due to be completed and ready for sale in 2012. Teslas other means of revenue is derived from sales of the

52、ir patented electric power train components to other companies. Sales of the Roadster also provide income in the form of Zero Emission Vehicle Credits, which can be sold to other car manufacturers that dont sell electric cars. (S)i. The objectives are clearly stated. Tesla is building a new factory

53、with a capacity of 20,000 cars per year to be ready to build the new Model S. Their proprietary technology includes 35 issued patents and 280 patents pending and the new Model S will have 3 battery options with different mileage ranges and prices.ii. The objectives are consistent with their goals of

54、 building alternative energy vehicles. Tesla is tied to the environmental movement, which has given them free publicity due to their leadership status in the industry.b. Teslas cash position isnt ideal. They were able to raised $226 million in an IPO in June 2010. They received a loan from the US De

55、partment of Energy of $465 million in 2010. The company has suffered a net loss every year but revenues have been improving each year. Their liquidity ratios are solid but debt levels are high as with any young company that is in a new industry and selling a new technology. (W)i. The company is an i

56、ndustry leader and has the best technology in the business and has many patents to protect their products. Their negative earnings and debt levels are areas of concern as well as the unknown demand for electric vehicles as electric battery technology is their main business and source of income. ii.

57、N/Aiii. Tesla has suffered a net loss each year and has mostly negative profitability ratios due to the company and industry still being in its infancy and with the new technology, which brings uncertain demand and risk for the future. Teslas future financial success and possibly their existence dep

58、ends are the future demand for electric vehicles and the infrastructure to support them. iv. Yes the company is building a new plant to support future growth and investing in new car models. They are spending to protect their proprietary technologies as they are crucial to future success.v. Finance doesnt provide the company with a competitive advantage as they are not very stable financially at the moment.c. Teslas financial performance is comparable to other young com