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Elon Musk Research Paper

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A free enterprise system has helped many people, but the system has helped Elon Musk throughout his life to make amazing products like the Tesla and he has founded SpaceX. Elon musk has helped found some amazing companies in his lifetime and is now considered one of the richest people in the world all thanks to the free enterprise system. If Elon Musk did not have the free enterprise system then none of his dreams would have come true because of all of the economic and financial decisions that he has had to make to get where he is today.

The free enterprise system has helped Elon Musk reach his goals by letting him make all of the financial and economic decisions that he needs to. The system has helped him over come many struggles with trying …show more content…

The free enterprise system has helped Musk by making him known in the world and spreading his ideas about the Tesla, which is one of the fastest growing car brands in America because of the technology in them. Elon's goal with the Tesla was to get people to stop using fossil fuels and to start using an alternative power source to help the environment be a better place and help the air we breath be cleaner. Tesla's can be expensive because of all of the technology that is put into it and its autopilot setting (that you can purchase in the Tesla app and have it installed into your car). Most people are turning towards electric cars like Tesla because gas prices keep on rising, you can also update your car with the infoscreen that comes in the car and is about 15 inches. Without the free enterprise system Elon Musk's idea of Tesla would have never even happened and the world wouldn't know what an EV (electric vehicle) …show more content…

In an article that I found by Rep Bill Johnson called "How SpaceX embodies the importance of the free market" it states that "SpaceX has spent less money in the 16 years since its founding than the National Aeronautics and Space Administration (NASA) spent building the Space Shuttle Challenger." The free enterprise system has allowed him to make the necessary financial decisions needed to help be more cost efficeint, but also make smart decisions. The article also states that "At $150 million a launch, SpaceX is able to operate $250 million cheaper than the closest private-sector competition, and NASA costs are even higher. The average cost to launch a NASA shuttle is $450 million a mission." Elon Musk's goal for SpaceX is to make space travel and launches more affordable, and he has done just that because of all of the economic decisions that he has made throughout the years with SpaceX. Without the free enterprise system, Musk's dream of making space travel more affordable would have never happened and it would've just stayed a dream of

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Source C is a great example of how putting an intelligent mind with deep pockets at the forefront of this industry produces results. It is clear that money is needed to change space exploration from an idea to a reality. NASA has needed a large amount of government and public funding to scratch the surface of this concept. In fact, Source C states, “The increase in launch competition and drop in launch prices is called the “Space X” effect for a good reason”. Notice that improvements being made in the business are known as the “Space X effect”, which is a privatized company, not the “NASA effect”.

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Technologic factors: Technology is perhaps one the most important factors responsible for Tesla’s internal environment decisions and capabilities: digitalisation, improving technology and globalisation is having a significant effect on the automobile industry. Indeed, these technological advancements now allow for fully electric vehicles and driverless cars. The high rate of technological change is both an opportunity and a threat as the winners of this technological race will be those capable of appropriating these new technologies before their competition. Technological advancement is also a threat, since there is a risk of Tesla’s technology becoming obsolete, the firm must ensure that its R&D spending remains consequent so that it doesn 't fall behind its competitors. (panmore.com, Tesla Motors, Inc. PESTEL/PESTLE Analysis & Recommendations)

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Analysis: Tesla has proven to make an extensive impact in the market. Keeping the company’s position in the high-end industry, Tesla is able to represent just like companies like Apple a high-end product that appeals only to a certain customer base. Tesla is constantly innovating their product in a way that the newest technologies will be incorporated in the production process of the car and the products the companies develop itself too. Tesla is the first major company to have inherited an electric car only automobile production company, which is nearly impossible considering the weak demand for electric cars today. Most car manufacturers today only devote a small part of their product line to electric cars, meaning that they do not want to take the risks of completely changing to electric only cars as fears of reducing the demand for their products is real and because there is still more demand for conventional petrol driven cars.

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The automotive industry is facing changes due to ecological impacts on the environment. Many automotive manufacturers such as BMW and Audi are now entering into the electric car industry where Tesla has established itself in. In this environment, there is a need for rapid innovation a firm 's capability to produce new technological products become crucial to survival in this industry. For this reason, human relations management will be beneficial to an organization as it allows creativity in employees who will be able to respond to changes in the environment efficiently and quickly which gives a company flexibility. " CEO Elon Musk created a master plan to compete with other automotive manufactures which were to Build sports car, use that money to develop an affordable car, use that capital to create more affordable vehicles, produce zero-emission electric vehicle power generation options (Tesla).

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Through his life, Musk has shown some adventurousness in a way that he left his family to pursue his dream in another foreign country. He believe in his dream that would makes an excellent traits for any CEO and result in the succesfulness of the company. The way CEOs approaches to the external and internal settings of his company reveal the methods and strategies he is capable of using. For example, the method by which he aims to establish growth and survival strategies can allow us to consider his risk awareness.

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