VALUE PROPOSITION PROPOSAL AND REFLECTION
MGMT20132: INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT
Business Name: Tesla
Student Name: HariShrestha
Student ID: 12094234
TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
THE PROBLEM 3
PROBLEM INSIGHT 3
PORTFOLIO OF GENERATED SOLUTIONS CONCEPTS 4
SOLUTION SELECTION ANALYSIS 5
VALUE PROPOSITION AND BENEFITS 9
TARGET CUSTOMERS 9
COMPETITIVE ADVANTAGE 9
STRATEGIC FIT 10
ASSUMPTIONS AND UNCERTAINTIES RELATED TO CUSTOMERS DESIRABILITY, TECHNICAL FEASIBILITY AND FINANCIAL VIABILITY 10
INNOVATION TOOLS AND TECHNIQUES 11
The most important factors about preparing this report is to know about the most valued business organization and to illustrate the value proposition proposal about the organization. Technology has made the world smaller and smaller .The advancement of the technology in this 21st century has made the life of the human being easier, faster and reliable to do and to access on any needs. Each and every person are busy in their living that they have to depends on the advancement of the technology and for this TESLA is one of the organization to make the life of the people easy and relaible.The main objective of the Tesla is to create and zero emission of the electric car which is better than the gasoline one and to provide the reliable means of the transportation .Tesla also focus on the innovation of the energy. It is one of the technology companies that provide the means to the Business to Consumer transaction through the medium of online or in store. Although Tesla has made the living standard to the next step it has some of its own drawbacks and the prepared report focuses on some of the issues that need to be solved to make it attraction in the running markets.
The modern car has provided the form of solution in the replacement of gasoline care which made the life easier but at the same time with the increasing demand of more advancement in its product and keeping in view about the competition in today’s market there may be the risk about the safety issues and the competition with other company too. The recently lunched Model 3has some of the issues which have been fixed by introduction the new model Tesla Model X solving the issues in its previous model keeping in view about the consumer requirement and market flow.Thus it is to know that the new model has the sustainability charts in value proposition which focused on customer’s needs, pain and gain.
TESLA is one of the technology companies and American electric automobile which was discovered by group of engineer and the American entrepreneurs i.e. Martin Eberhard and Marc Tarpenning whose main objective to design and electric car instead of gasoline car providing the most reliable and sustainable means of transportation to the individuals .The company also focus of the innovative energy .The name of the company was kept after Serbian American Inventor Nikola Tesla.The funding to the tesla was obtained from different sources and cofounder of paypalElon Musk contributed more than $ 30 million in the company and become new chairman of the company in 2004.Tesla is the business to the customer services and main objective of the report is to focus on the value proposition of the Tesla.
The problem in the Tesla new Model 3isthe charging issue and the safety issued which needs to be solved to make it more reliable and more focus on market .As everyone in today’s world is getting more and more busy so there is no enough time to spend and with the development in the infrastructure the way has become more complex and congested .Every one want to be earlier in the work or in the place where safety matters .The new Model 3 car has the safety problems which can be minimize by adding more technology in self-drivingsystem, making more visible in back camera and adding some authentic rules and regulation of the government to the software system. The charging issued faced by Model 3 which use long bunch trains. To control these bunch trains require larger space of ring of 17 km which make the charging space congested and needs to be solved in Tesla Model Xmodel. Introducing the new technology,the company can gain more advantages over the risk which provide the importance to the customers by providing a new model with more features and models. With the help of new model it can help have better visualization, reliable and fast charging system and self-driving system with better rules and regulation
Invention of most luxurious car in the world is most important matters which make the living standard easier. With the invention of the luxurious car we must be conscious and focus on minor elements which make big difference in the model. Lunching the new model Tesla Model X will have to consider on the software problems to fix bugs problems, to improve the performance of the product or model .As the safety is the biggest issues the new modelTesla Model X will minimize the accident rate among the luxurious car which supposed to be 4 times greater in Model 3 than other luxurious car and 37% than normal car. The rapidly problems of sudden shutting down problem due to failure in high voltage controlled will be solved inTesla Model X .
PORTFOLIO OF GENERATED SOLUTIONS CONCEPTS
The two canvas i.e. Disciplined Entrepreneurship canvas and value proposition canvas are the main tools to generate portfolio solutions. The current situation of the business is measured by disciplined Entrepreneurship canvas suggestion about the organization doing. The issues occurs in Model 3 of electric vehicle in Tesla can be solve by Disciplined Entrepreneurship canvas which the help of improvement in different system and the faults .On the other hand value proposition canvas is the means which help to judge the products satisfaction to the consumers as per their need . To make the products good rates in the market the value proposition canvas is one of the methods.
Innovation of new model Tesla Model X will eliminates the defect of Model 3 .The software system in Tesla Model X will be improved version with wide radius of sensor in the Tesla Model X which helps to decrease the accident caused .The sensor will be activated .The conjunction on space charging will be minimize by reducing the length of the bunch trains of the charger and making the charge faster as the previous one in Model 3.The Sudden shutting down problems of the Model 3 will be solved by improvement in the technology and making high voltage controller in control.
Disciplined Entrepreneurship shows the current situation of the business and can be measured by disciplined Entrepreneurship canvas suggestion about the organization doing in a right way or what can’t do. The Four significant of Disciplined Entrepreneurship Canvas has explained on the basis of Tesla Electric Vehicles as:
• Raison d’Etre:
Every Organization has its own mission and vision that it want to achieve .As this factors defines about the reason to be in an business organization and passon about the business organization .The Tesla Electric Vehicles has the mission to satisfis the need of the customers and the main value that it consider is the customers satisfactions .
• Initial market:
To success in the competitive market in today’s world the organization first must consider the customers satisfaction and it must analyses the problems that needs to be solve to exist in the business organization .The marketing network must be properly flowed in order to solve the different problems faced by the business organization. End User profile, TAM, and next ten customers must be considered first which gives support in the organization.
• Value creation:
As the more value given to the customer need and requirement the business organization grows its self .The Tesla must give attention to the small and detail things on the products which make the customers satisfaction to the high level. The business organization must consider on the price value which greatly effects on the customer’s choice and needs.
• Competitive advantage
The Tesla Mortars is the best one because it can be affordable by the individuals as per their needs. TheTesla Model X has all the improvement accessories than Model 3 which has a minor defect on it.
Value proposition canvas is the way of measuring the product existent in the market which helps to judge the products satisfaction to the consumers as per their need. To make the products good rates in the market the value proposition canvas is one of the methods.
Customers segment consists of three measure factors likeCustomer jobs, Pains and Gains Which helps to focus on customers’ needs and satisfactions.
- Customer jobs
It involves different duties, problems or desires for clients to address, solve or satisfy. Factors such as accessibility of products and items in the client mind, saving time, social life and character while selecting the Tesla service.
Pains might related to the adverse and misleading about the Tesla products .The need of the customers need to be addressed to come over the pain of the customers .The company must update the advance booking system and the secure about the date of delivery of the products to the individuals to gain positive feedback on it..
Gains is the factors that describe the positive attitude of the customers towards the product .Depending up on the product customer willing to choose Tesla products and services due to low cost, faster service, Products availability, delivery.
A. Value Map
It has to do with the product. It therefore focuses on attracting customers and meeting their requirements. It has three components such as products and services, pain relievers, and creators of gain.
Product and services
It is related to the clients jobs about the customers satisfaction on different factors like on time delivery, quality products are the factors to be considered for good services by Tesla.
It is accountable for the ability of the product to solve these pains. Tesla should focus on reliability, product quality and brand awareness
It is the product’s added value that it will provide to customers. Tesla should concentrate on ordering, saving time, range of services, quality search instruments and quality products in one click
VALUE PROPOSITION AND BENEFITS
Avalue proposition is a value that the company offers when buying the product of its products (Barnes, Blake, & Pinder, 2009). It clarifies why, despite multiple substitute service providers, clients should choose the particular company item.The services that Tesla can provide is the facility of the Electric Vehicles instead of gasoline one safe platform to conduct the B2C business. Both the clients and the vendors will profit from it. If the delivery of the booked item is completed in time and the model’s services make it more suitable then the number of clients will be attracted to the market.
For Electric vehicles, most of the Tesla’s rivals charge a enormous amount of cash.However, Tesla has a reasonable price, which gives it’s the cost advantage. The Tesla can upgrade the business in different countries if the delivery system is in time and the advance booking system is upgraded. The unique design and the affordable price can be advantage for the organization to glow in markets in different countries. The stylish look and battery backup and the good paint can be additional advantages for the Tesla.
Strategic fit is the degree to which the policies of the parent business comply with the suggestions. Here the strategies are ready for the parent business, so it is consistent with the parent organization. It is the degree to which host countries ‘ resources and capacities match the home nation (Barnes, Blake, & Howard, 2017)..
To evaluate the novel value proposition, the firm Tesla was selected. Innovation Tesla is the company dedicated to the sale of products. From the above report, I came to understand the Tesla’s issues and the use of technology that solved the issue.Despite the issues, one of the world’s successful companies is attempting to function in more nations. Iwent to learn about the issue by preparing this report, the technology used by the Tesla, and also the sustainability trend that Tesla has pursued in support of the objectives of sustainable development .
Tesla is the company to the company of the consumer. It analyzes the issue and possible solutions to the issues that need to be solved.Similarly, the value proposition and its advantages were dealt with, and its main consideration was to learn about the product and services offered by the company and how it could provide clients with the value.The study discussed the business target client, the competitive advantage and the business ‘ strategic fit with the parent organisation, and the customerrelated uncertainty.Overall it analyzes the company’s novel value proposition. The key things Tesla can do are to expand with more aggressive strategies to the distinct country.
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