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Running head: EVALUATION OF TESLA’S CORPORATE STRATEGIES1Evaluation of Tesla's Corporate StrategiesName Institution
EVALUATION OF TESLA’S CORPORATE STRATEGIES 2Evaluation of Tesla's Corporate StrategiesIntroductionStrategic evaluation and recommendation are essential in determining the factors that contribute to organizational success. Typically every business strategy aims at giving the business an opportunity to gain competitive advantage while providing value to customers. Tesla Motors has established itself in the automotive industry as a reputable leader in the production of vehicles that rely on electricity for their operation. Focusing on its generic corporate-level strategies, Tesla is looking forward to gaining a competitive advantage by introducing a set of advanced technology-oriented electric vehicles to the global market. The purpose of this paper is to provide a strategic evaluation of Tesla motors, conduct an assessment of corporate level strategies of the company, and give recommendations of potential business strategies the company can use to meet its organizational objectives.Corporate Level StrategiesTesla motor’s main corporate strategy has always been to achieve a triple bottom line by advancing its corporate responsibility efforts to enhance innovation and to meet stakeholder’s interests (Tesla Motors, 2015). The recent acquisition of solar city has demonstrated the company’s commitment to using other sustainable energy sources (Eisenstein, 2016). Elon Musk, the company’s CEO considers the achievement as part of the