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Tesla CEO Quits Presidential Councils Case Solution & Answer

Tesla CEO Quits Presidential Councils Case Solution

Environmental impact:

Elon Musk’s withdrawal from the presidential council helps the people in recognizing him as one of the leaders in the field of climate change preservation. Due to this, two major companies owned by Musk, i.e. SpaceX and tesla will also get the support of the environment activists. Elon’s decision can have a positive impact on how people perceive his companies. His companies will be more trusted and respected, and his decision will most likely increase his followers and active buyers. This decision can have additional benefits on the companies’ reputation and authenticity as compared to their competitors.

Competitive analysis:

The major competitors of tesla include Ford, General Motors, multinational automobile manufacturers (THE INVESTOPEDIA TEAM), li auto, Nio, and Nikola corp. The biggest competitor of tesla is Ford, whose capital is 78 million in comparison to 1.1 trillion ofTesla. In comparison to Tesla’s focus on the quality of the car; the biggest strength of Ford is being the oldest company which has a wide variety of cars. Such huge variety ensures that the company has something for every type of customer, which can have a great impact on company-wide-range approval, in addition to an increased number of customers. In contrast, Tesla’s main focus is to create top-quality luxurious electric cars. This idea has although reduced Tesla’s set of customers, but, it is the most important idea behind the success of any business. Tesla’s topmost strategy to create innovative technology can make it the leaders of innovative technology, because it is a core business strategy to create something so unique and beneficial that the product leads out of competition, since it will be one of its kind. This strategy of Elon Musk is the main reason behind Tesla’s success, since a business’s success is mainly dependent on marketing and a unique idea that eases people’s lives.

General Motor is another great competitor of Tesla. Both Tesla and General Motors have the core strengths of focusing on innovation. General Motor is a strong competitor of Tesla since its strengths include an excellent sales strategy, strong strategic partnership and it keeps it customers’ safety first in all its innovation plans. It was also estimated that the main strength of GM which covers all of its weaknesses is its preference for partnership. This is the main reason how GM managed to lead the list of largest automobile manufacturers in 2019 (hub). Although one of Tesla’s weaknesses that it doesn’t develop enough components to meet the demand of its customers, but the strengths that cover this weakness is Tesla’s focus on quality and its strength of developing the most luxurious cars. Additionally, the partner-related policy might help Tesla in meeting its growing demand, as its numerous strengths including its brand equity, have helped it in being the leader on the list of most luxurious electric vehicle manufacturers………………………

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