The Roadster is an all-electric sports car that was using a based of Lotus car and able to raise $187 million, but was not sold as much as wanted, just 147 cars. Later in 2009, the next model of Tesla was announced, the Model S, bringing a huge wave of hype for Tesla, so much that Daimler AG decided to acquire 10% of Tesla, giving them the boost needed continue develop the model S.
In June 2009, Tesla had is turnaround. First it was approved the receiving of a low interest loan of $465 million by the United States government as an incentive to produce non-polluting vehicles and to further develop the battery technology. Then, at the end of the month, Tesla Motors launched its initial public offering (IPO) raising $226 million for the company.
…show more content…
They are amazed how the small start of California, run by people who do not know about the car business, have such success. To enable a quick charge for the new Model S, Tesla started building a fast charging station network, which distributed in full to enable customers to be convenient and efficient to charge for long travel.
Business goes smoothly, Tesla has a lot of cooperation with other car makers such as Mercedes, Smart, Toyota and decided to provide all their patents. The reasons stated for this stand include attracting and motivating talented workers, as well as accelerating the mass market development of electric cars for sustainable transport. In the same year, Musk reduced his salary to one dollar. And, just like Steve Jobs and others, the remaining balance is in the form of stocks and performance-based
…show more content…
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. If he invests a lot in human resources, by recruiting talented employees and teaching them to all aim to the same range of goals and not to just think about profit, he will have a mind-set more appropriate to work in team and exercise his leadership.
The CEOs is required to relate in a perfect harmonious way with the market, targeting untapped markets with a possibility of high growth, trying to impact as much as possible the industry by using one or more competitive advantages that the firms has. Musk strategy in identify a niche in the market is a good example of an effective leader in the company. Musk’s strategy is based on starting his companies within niches. For a small start-up, occupying niches is a significantly easier endeavor than competing head to head with global