Tesla
Name
Institution
Course
Instructor
Date
Tesla
Tesla is an automotive company founded almost two decades by a group of engineers whose intention was to prove that the world does not have to compromise to drive. The primary goal of the company is to minimize pollution from the transport industry, which contributes a significant percentage of the global pollution. Tesla emphasizes on the use of clean energy, not only in the transport sector, but also by developing energy generation and storage products. The company believes that one way to make the world better for future generations is by minimizing dependence on fossil fuels.
Like other companies, the success of Tesla is measured through its performance, which depends on the company’s strategy. Therefore, it is important for the company to frame the right strategy and ensure it is executed. Organizations use various tools to manage their scorecards, one of them being the balanced scorecard. Balanced scorecard helps in integrating the key value drivers into organizational operations (Murby & Gould, 2005).
A balanced scorecard has four perspectives, which are the financial, customer, internal business process, and learning and growth perspectives. Tesla can use various measures for these perspectives. The financial perspective will be measured using profitability and shareholder value. The measures for the customer perspective include service, time, and quality. The ability to increase market share can also be used to measure the customer perspective. The measures for internal operation include the technology Tesla is employing to satisfy their customer needs. Another measure is core competencies within the company. The measures for the learning and growth perspective include Tesla’s ability to innovate and manufacture clean energy equipment and helping its employees learn new processes. These perspectives can be used to monitor any non-conformities that might arise in the production process. They are identified by assessing lag and lead indicators. An example of a lag indicator is the total production cost while a lead indicator is the percentage of market share.
References
Murby, L. & Gould, S. (2005). Effective Performance Management with the Balanced
Scorecard.
Tesla’s mission is to accelerate the world’s transition to sustainable energy.
https://www.tesla.com/about?redirect=no