Analysis of Renewable Energy Industry’s Management Strategy: Taking Tesla as an Example

Abstract

In order to provide some insights into how can renewable energy flourish in the future, data and literature relevant to Tesla’s financial performance in the past few years is analyzed by this paper. As an industrial pioneer who leads the path of innovation, Tesla has its unique strength in terms of battery production and clean energy solutions. Instead of adhering to the traditional strategy, the company adopts a special system dealing with battery issues and customer concerns, and utilizes effective systems integration to adapt to the needs of other stakeholders. However, Tesla also falls short in its product price and quality, facing fierce challenge from competitors. Acknowledging these shortcomings, this study provides insights into how to maintain Tesla’s competitive edges based on previous literature, suggesting expanding lineup of affordable EV models, diversifying supply chain, and enhancing level of innovation as possible solutions for Tesla’s current problems. These strategies are crucial for the firm to boost the confidence of its consumer, enhance its profitability, and maintain its market advantages.