Tesla And Technology : Innovation Evaluation Of Elon Musla

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Task 2: Innovation Evaluation Tesla Entrepreneur Elon Musk launched Tesla with a mission to “To accelerate the advent of sustainable transport by bring compelling mass market electric cars to market as soon as possible”. (Tesla.com, 2017) Elon Mush is well-known in the business world as he created/ co-founded other successful businesses, such as SpaceX, Tesla, PayPal, SolarCity and many more. “Creativity is necessary but not a sufficient condition for innovation, the goal of innovation is to solve a problem”. (Lumsdaine and Binks, 2009, P179) By looking at the Tesla website, the creative spark for Tesla is to prove to people that electric cars can be better, quicker and more fun to drive than non-electric cars. Tesla’s problem that it wants to solve “the faster the world stops relying on fossil fuels and moves towards a zero- emission future, the better.” (Tesla.com, 2017) Tesla’s Radical Innovation Incremental innovation is a series of small improvements to an existing product or product line that usually helps maintain or improve its competitive position over time. Radical innovation is an invention that destroys or supplants an existing business model. (BusinessDictionary.com, 2017) I think Tesla has used radical innovation rather than incremental. This is because Tesla have a new advanced invention in the market that outstands its competitors and I wouldn’t class their innovations as small improvements. “Innovation is more than invention- it involves change, and it

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