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Research on Tesla’s Business Model on Obtaining Competitive Advantages
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Abstract
Organizations, governments, and communities have widely discussed the concept of digital and technological innovation when the world penetrated to a new era of technological modernization. People focus on developing advanced technologies to increase production efficiency and business profitability. As a result, many organizations discover new ways to promote their market positions and gain competitive advantages over their rivals. Tesla Inc. is a typical innovative firm that disrupts conventional vehicles' business model to create a more sustainable vehicle market. The analysis of the business model, SWOT, and Porter's five forces are used to understand how Tesla engages with the development of the electric vehicles market to win market shares and customer loyalty. The essay concludes that the ways of disrupting conventional vehicle value propositions, transforming to renewable energy fuels, and the efforts put into the research process make Tesla a successful and favorable organization in the innovative realm and vehicle market.
Keywords
Tesla, competitive advantages, technological innovation, electric vehicle, vehicle market
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Cite this article
Yang,R. (2023). Research on Tesla’s Business Model on Obtaining Competitive Advantages. Advances in Economics, Management and Political Sciences,25,159-164.
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Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development
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