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美国论文阿根廷国家队官方赞助商：Tesla Motors Incorporated
2017-05-23 来源: 51due教员组 类别: Report范文
本文是一篇优秀的Report范文- Tesla Motors Incorporated，供大家赏析学习，这篇论文讨论了特斯拉汽车公司。作为世界上最具创新性的公司，特斯拉的核心竞争力并没有体现在供应和制造能力上，而在于其强大的整合资源和优秀的工业设计能力。特斯拉更像是一个技术研发公司，而不是规模庞大的汽车制造商。成本、里程、安全等仍然是特斯拉发展的主要障碍。
1. Executive Summary
In this management review report, the paper chooses Tesla Motors Incorporated to analysis and examined several aspects of Tesla in order to have a whole understanding of the company. As the most innovative company in the world, Tesla's core competitiveness is not reflected in the supply and manufacturing capabilities, but in its powerful ability to integrate resources and the outstanding industrial design. In addition, many unique elements created a unique Tesla, its model is bound to be difficult to replicate.
Its founder Elon Musk is a genius who has successful experiences cross investment, IT, aerospace, solar, electric vehicles and other fields. Musk has the ability to realize the optimum combination of IT technology and energy industry. This is very prominent in Tesla’s battery management system and automotive information applications.
In summary, Tesla is more like a technology research and development company, rather than the sizable car manufacturers. Cost, mileage, safety, etc. is still the main obstacle to the development of electric vehicles. If Tesla wants to spread its cars all over the world, industrialization transformation needs to be completed in the future.
2. An overview of this company
Tesla Motors (Motors Tesla) was founded in 2003, headquartered in Silicon Valley, California, United states. It has wholly-owned subsidiaries in North America, Europe and Asia. Tesla designs, develops, manufactures and sells fully electric vehicles with high-performance, and also the advanced electric vehicle powertrain components and stationary energy storage systems. Tesla’s vehicles, electric vehicle engineering expertise and business model differentiates it from incumbent automobile manufacturers. In its annual report, Tesla claims to use the most innovative technology to accelerate the development of sustainable transportation. It is publicly admitted that Tesla electric cars are up to the highest standard in the automotive industry in terms of quality, safety and performance and it provides the most cutting-edge air and upgrading technology service and a complete charging solution, it brings the ultimate driving experience and the most complete consumer experience. Several types of Tesla Motors include Tesla Roadster, Tesla Model S and Tesla Model X.
Tesla's initial venture team is mainly from Silicon Valley, who is using the IT concept to build cars, which are quite popular among the young people. As of December 31, 2014, Tesla’s executive officers, directors and their affiliates owned approximately 28.0% of its outstanding shares of common stock. In particular, the CEO Elon Musk owned approximately 26.7%. Shareholder groups include FMR LLC, Blackstar Investco LLC, VantagePoint Venture Partners and so on, but their shareholding percentage is less than 20%. As a result, Elon Musk is able to control all significant matters relevant to Tesla’s transactions.
Tesla has a separate audit committee, compensation committee, etc. Its committee structure is complete and so internal control can be assumed to be effective. However, as the CEO has absolute control over the company, the management and operation are highly dependent on him, so this brings risks to Tesla as he also currently serves as Chief Executive Officer and Chief Technical Officer of Space Exploration Technologies and Chairman of SolarCity, so his time and attention cannot be fully devoted to Tesla. The only way to reduce this risk is try to reduce dependence on its CEO—Musk, which may be hard for Tesla as the human asset is non replicating and may need lots of time and energy to find or foster another management team like Musk.
4. Ethics and Social responsibility
Through the generous opening of patents and cooperation with other automobile manufacturers, Tesla provides an efficient way to achieve sustainable energy supply, and the use of a different energy enables global transportation to have to depend on oil, and has contributed to the development of pure electric vehicles in the world. Using only an electric powertrain creates a lighter, more energy efficient vehicle that is mechanically simpler than currently available hybrid or internal combustion engine vehicles. Tesla’s management team estimates that the cost to fuel their vehicles is approximately one-fourth that of comparable internal combustion vehicles in the United States, and even less if the gasoline prices are higher. Additionally, governments tend to encourage the environmentally friendly energy car so incentives may be given to the producer or consumers.
However, there are some security issues for Tesla. In October 2010, due to the presence of potential fire hazards in the battery, Tesla recalled 439 Roadster electric vehicles, about 1/3 of the total production of 1300. Besides, there are reports of battery decay of Tesla during these years. Six major security vulnerabilities exists in the Tesla S Model system, and one of the vulnerabilities can control the vehicle, according to the Las Vegas black hat information security conference. In addition, multiple fire problems, battery problems, and system vulnerabilities, these events have been covered up by Tesla's public relations team, and did not disclose in the notes of the financial statements.
In order to accelerate the widespread adoption of electric vehicles, Tesla has established its own network of sales and service centers and Supercharger stations globally.? It sells vehicles through its own sales and service network which are continuing to grow globally. The management team believes the benefits received from distribution ownership will enable Tesla to improve the speed of product development and improve the capital efficiency of business. Furthermore, to facilitate Model S vehicle owners as well as future Tesla vehicle owners’ long distance travel, Tesla continues to build superchargers networks in the US, Europe and Asia which provide fast and free charging services.
Tesla believes the car demand can be stimulated by opening service a center in a new geographic area. As a result, Tesla stores are complemented with sales facilities and personnel in service centers can help to expand its retail footprint more rapidly. They refer to these as “Service Plus” locations which have reached 159 locations around the world as of December 31, 2014.
As the world's largest auto market and the world's largest economy, China is an important part of Tesla's global strategy. But Tesla's development in China has encountered a number of obstacles: first, consumers are worried about the electric car charging situation, and thus lead to the management of Tesla electric car prospects. After Musk’s trip to China in April 2014, the warm response from Chinese market impressed him, he said the Chinese market will replace the United States, becoming Tesla's largest market. Tesla plans to sell 55000 new cars worldwide in 2015, and opening China's market is one of the group's annual target. In China, it has never been lack of potential customers who can easily buy Tesla S Model luxury car. However, sales data for 2014 is not satisfactory, the market anxiety may be one of the key factors: Chinese cities have suffered the traffic problems for a long time and other forms of energy vehicles also have mushroomed in this competitive market, not to mention the underdeveloped charging network, so Tesla developed in a hard way in China, at least for now. But since a significant number of people in China are greatly supporting this kind of environmentally friendly vehicle, the market still needs to be digged and time needed to make this concept popular. Musk surely has great expectations in Chinese market in the future.
Tesla’s organizational structure is relatively flat compared to other international companies. Its CEO has control over major aspects of the company’s management and operation and as it sells its products over the world by direct sell instead of through the traditional car dealers, the core management is able to control each subsidiary directly. The company has few levels of authority, but wide spans of control, international operations and subsidiaries are supervised by the headquarter so selling and financial situation in each area can be communicated quickly.
Because the electric car is different from the internal combustion engine car, its product explanation, sales, maintenance need special personnel appointment, so Tesla’s marketing model is quite like Apple's direct sales model. As a niche brand, stores can provide customers with more professional services and also a better brand exhibition. Different from the traditional 4S shop business model, Tesla pays more attention to customer experience by developing online sales through the offline experience stores. Tesla provides the whole industry chain service, directly dispels the consumers concerns from buying a car, use, maintenance, appreciation and so on. Tesla has helped consumers to take care of all aspects of the car, from the warranty to charge and other aspects of the various aspects, all consumers need to do is to pay for the car. But the self built, self marketing network will increase the cost of Tesla and slow down the expansion of sales outlets, and even brings legal risks.
Tesla currently sells its cars primarily to individual customers. They have strategic or commercial relationships with Panasonic, Daimler, and Toyota. The integration of resources is reflected in Tesla's important partners. For example, the company's first collaboration with the Lotus car supplemented its weakness in car body, the late introduction of Daimler Benz and TOYOTA as a strategic partner, completely filled out its lack of experience in the field of automotive manufacturing. Tesla cooperated with Panasonic on the most core components of the electric car, to lower the cost of lithium batteries, and to promote the market demand. In addition, for the charging device, Tesla insisted on a small route, outsourced to Solar City company hold by its boss Musk. Tesla is currently working with IT companies in Silicon Valley which shows a strong digital imprint.
Tesla electric cars have a huge impact on the traditional internal combustion vehicles and Tesla's direct sales model is against the traditional car dealers. It is difficult for electric vehicles to face the challenges and cut into the mature combustion automobile market, although so far, Tesla has done quite well, but it also goes very difficult. Musk welcomes other automobile makers to enter the electric car industry to form an alliance, so the overall electric car industry will have greater potential, and it would be beneficial for Tesla to cultivate in the market, any policy breakthroughs, technology accumulation, electric vehicle industry chain formation would be easier; and it would increase the volume of electric vehicles.
Though the plans are promising and quite inspiring, Tesla's financial situation is not so positive. In the fiscal year of 2014, Tesla earned revenue of $3.198 billion, higher than the $2.013 billion in the fiscal year of 2013; but a net loss of $294 million indicates a substantial expansion of losses compared to net loss of $74 million in 2013. The substantial loss made by Tesla was under the condition of a substantial increase in sales volume. In 2013, Tesla’s annual sales was 22000, while in 2014 sales volume reached 31655, an increase of up to 44%. The reason behind this phenomenon lies in the “parts model” used by Tesla, which is different from the traditional car companies. In order to reduce costs, Tesla uses parts that have been applied to other brand for assembly, its research and development costs has been diluted in the initial stage. But the so-called "component integration" mode is the direct reason why Tesla sells more but suffer more losses. That means the problem of Tesla is in the product and non-operating aspect: because of the non-specificity development, parts used in process is not applicable, Tesla needs to continue to invest to improve.
Tesla is highly dependent on the services of Elon Musk, their Chief Executive Officer, Product Architect, Chairman of our Board of Directors and largest stockholder. Tesla electric car represents only the tip of the iceberg of its leader---Musk's unique thinking mode. From online financial innovation to space rocket project “Space X”, although represent so different entrepreneurships, their way of thinking behind is exactly the same. Musk has a "first principle" way of thinking. He believes every phenomenon has its own first principle, and all will be smoothly done or easily solved if the principle is caught. Under the guidance of the principle, he has long been concerned about the three major areas of finance, transportation, energy. “If you can get the people excited, business has been done by half” Musk told the young followers. And that might be the secret of his success.
In the vehicles industry, quality can be vital; Tesla’s quality control efforts include both product quality and supplier quality, and they are focused on designing and producing products. Product designs are guaranteed by the product quality engineers working with engineering team and suppliers to meet functional specifications and durability requirements. Tesla has its own supplier quality engineers who are working with suppliers to ensure that processes and systems are capable of delivering the parts needed at the required quality level, on time, and on budget.
Due to several risks faced by Tesla, proper internal control is quite vital. In terms of financial risks, Tesla’s leverage is too high, while its own operating cash flow is negative. Because Tesla's product line is relatively narrow compared with other large scale car manufacturing, and in the current point of view, the long-term demand for its products is very limited, and management is not experienced in dealing with multi-line production, Tesla's operational risk is relatively high. In terms of risks related to business and industry, Tesla still needs to maintain and strengthen its relationship with its suppliers, customers, and also its employees. In order to succeed in the competitive auto-mobile market, Tesla needs to keep up with advances in electric vehicle technology and make a better product met a wider scale of customers’ needs. Furthermore, risks associated with its international operations and expansion, including unfavorable regulatory, political, tax and labor conditions and establishing in new markets, all of which needs extra care of the management.
TESLA MOTORS, INC. ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2014
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