Analyze the sustainability of the Tesla enterprise.
Assessment Description
This assessment will build on the previous assessment and continue to analyze the sustainability of the Tesla enterprise. It will need to address the feedback from the previous assessment, provide additional information as described below, and design a sustainability monitoring system. The report is structured as follows:
1.Introduction: introduce the business you have chosen. Explain what it does, in which industry(-ies) it operates, where it is located, what is the size of the business, and any special features you think are relevant (300 words).
2. Implementation Plan: Describe what information has been collected for this report, how it will be used, and how it will be used (e.g., interviews, site visits, company websites, review websites, industry publications, news articles, academic literature) (200 words).
3. Sustainability in the industry: Describe the sustainability monitoring and assessment in the industry in which the business operates. (700 words)
4. Business Sustainability: Describe how the triple bottom line of sustainability (i.e., socio-cultural, environmental, and economic) is being used, the industry’s sustainability issues, and how the industry is addressing these issues. (700 words).
5. Specific Area of Sustainability: choose one of the three areas of sustainability (economic, environmental, or socio-cultural) that will be the focus of the rest of the assignment. Explain why this area was chosen. Is it very important to this business or industry? What are the most important areas for improvement for this business? (300 words)
6.Business Monitoring and Evaluation Systems. Analyze how the company monitors and measures the effectiveness of its sustainability initiatives/projects. (700 words)
7.Recommendations for Corporate Sustainability: provide 1 or 2 recommendations for the company on how to improve its sustainability in the selected dimension. The recommendations must be based on academic or industry literature and relevant examples (500 words).
8.Cost and challenges(300words)
9. Conclusion: Summarize the report. Include reflections on writing the report. What went well, what modifications need to be made to the original method of information collection and analysis, and what more could have been done if more time and resources had been available to complete this task (300 words).
10. References
The report should be 4,000 words in length. The format is A4, 1.5 spaced, 12 point Times New Roman. the specified length does not include references and appendices. References are required for everything in the report, unless the information comes from personal observation or interviews. Any primary information (i.e., information gathered through fieldwork or personal communication) should be clearly labeled.
Requirements: 4000
Assessment Description
This assessment will build on the previous assessment and continue to analyze the sustainability of the Tesla enterprise. It will need to address the feedback from the previous assessment, provide additional information as described below, and design a sustainability monitoring system. The report is structured as follows:
1.Introduction: introduce the business you have chosen. Explain what it does, in which industry(-ies) it operates, where it is located, what is the size of the business, and any special features you think are relevant (300 words).
2. Implementation Plan: Describe what information has been collected for this report, how it will be used, and how it will be used (e.g., interviews, site visits, company websites, review websites, industry publications, news articles, academic literature) (200 words).
3. Sustainability in the industry: Describe the sustainability monitoring and assessment in the industry in which the business operates. (700 words)
4. Business Sustainability: Describe how the triple bottom line of sustainability (i.e., socio-cultural, environmental, and economic) is being used, the industry’s sustainability issues, and how the industry is addressing these issues. (700 words).
5. Specific Area of Sustainability: choose one of the three areas of sustainability (economic, environmental, or socio-cultural) that will be the focus of the rest of the assignment. Explain why this area was chosen. Is it very important to this business or industry? What are the most important areas for improvement for this business? (300 words)
6.Business Monitoring and Evaluation Systems. Analyze how the company monitors and measures the effectiveness of its sustainability initiatives/projects. (700 words)
7.Recommendations for Corporate Sustainability: provide 1 or 2 recommendations for the company on how to improve its sustainability in the selected dimension. The recommendations must be based on academic or industry literature and relevant examples (500 words).
8.Cost and challenges(300words)
9. Conclusion: Summarize the report. Include reflections on writing the report. What went well, what modifications need to be made to the original method of information collection and analysis, and what more could have been done if more time and resources had been available to complete this task (300 words).
10. References
The report should be 4,000 words in length. The format is A4, 1.5 spaced, 12 point Times New Roman. the specified length does not include references and appendices. References are required for everything in the report, unless the information comes from personal observation or interviews. Any primary information (i.e., information gathered through fieldwork or personal communication) should be clearly labeled.
The content of this article must be improved on the basis of the following articles. Improve the questions raised and do further research on the basis of keeping the general theme unchanged.The final presentation format is subject to the above requirements.
Feedback from previous assessment: Why is your sections headings A, B ..etc? You should have a proper titles. And no use of sub headings in Industry? Recommendations missing.
Report of the previous assessment:
1. Introduction
Tesla Inc., founded in 2003, is a globally renowned American multinational corporation that has revolutionized the electric vehicle and renewable energy sectors. Based in Palo Alto, California, the corporation operates globally with the mission “to accelerate the arrival of sustainable transport by rapidly bringing electric cars to the mass market” (Tesla, 2021).
Predominantly, Tesla is recognized for its exceptional manufacturing and selling of electric vehicles (EV). Still, its operations extend beyond the automotive industry into the domain of renewable energy through the production of solar energy and energy storage products. By establishing itself in these sectors, Tesla actively contributes to sustainable business practices and the global transition towards green energy (Tesla, 2021).
Tesla has a global footprint and employs over 70,000 people as of 2021. The company reported an annual revenue surpassing $31.54 billion in 2020, indicating its significant economic influence (Statista, 2022). Operating in diverse markets spanning across North America, Europe, Asia Pacific, Tesla’s business models extend to company-owned showrooms, galleries, service centers, Supercharger stations, and robust online sales channels. These strategically situated facilities have enabled Tesla to maintain high visibility and customer reach.
Three main characteristics define Tesla: its disruptive approach, high-risk tolerance, and consistent technological innovation. Tesla’s CEO, Elon Musk, is recognized as a key influencer within the technology industry and has driven the company’s aggressive and innovative strategy. Quantifying this disruptive ethos is Tesla’s unique integrated business model that breaks away from the traditional dealership models commonly used in the auto industry.
Sustainability is deeply embedded within Tesla’s mission, emphasizing the production of zero-emission electric vehicles and clean energy. Tesla’s Solar Roof and Powerwall are products of the company’s commitment towards sustainability and self-reliance in clean energy production and consumption (Tesla, 2021). Tesla’s sustainable practices illustrate the company’s differentiation from its competitor, setting a benchmark for sustainability in the corporate sector.
2. Sustainable in the enterprise
Tesla, Inc., recognized for pioneering electric vehicles (EVs), is notable for its rigorous endeavors towards enterprise sustainability. Tesla’s primary area of excellence includes their resolve to combat climate change by innovating in environmentally friendly technology, while areas that requite improvement primarily surround their resource management and labor practices.
2.1. A
One of Tesla’s prominent merits is its commitment to tackle climate change. By spearheading the transition from internal combustion engine vehicles to EVs, Tesla is directly contributing to the reduction of greenhouse gas emissions. The company’s fully electric powertrain eliminates tailpipe emissions, thereby valuably contributing to global CO2 reduction (Kim et al., 2016). even a long-range Tesla Model 3 would be more lower emissions than any petrol vehicle. (Hausfather, Z., 2019).
2.2. B
Additionally, Tesla’s energy products aim to lower emissions in other sectors as well. The Solar Roof, combined with the Powerwall, allows homeowners to generate and store their electricity, reducing reliance on fossil fuels in the residential sector (McLaren et al., 2021). In instances of excess power generation, Tesla’s Powerpack and Megapack offer large-scale energy storage solutions, enhancing renewable energy utility integration into the grid, making these sources more reliable (Budischak et al., 2013).
2.3. C
Batteries manufactured by Tesla, including battery packs in our automobiles and energy storage products, are designed to work for long periods of time, so we have received a limited number of batteries back to the factory to date. The majority of recycled batteries that do not reach the market at this stage come from research and development and quality control processes. 100% of Tesla’s end-of-life lithium-ion batteries are recycled, and none go into landfills. In addition, Tesla has established a mature internal ecosystem for remanufacturing returned batteries (Tesla, 2020).
2.4. Cost and challenges
Sustainability in enterprises, such as Tesla Inc., has become an absolute focal point in recent years. The world is increasingly looking to renewable sources of energy, and companies like Tesla are at the forefront of making this transition. However, it is not without its cost and challenges, some of which relate directly to financial aspects, technicalities of innovations, operational challenges, and supply chain issues.
Firstly, Tesla is renowned for leading the electric car revolution. Yet, the cost of electric vehicles (EVs) remains a challenge. The high cost is a critical factor in the adoption of EVs globally, particularly in developing countries. Tesla’s challenge stems from the high cost of vehicle production particularly due to the cost of lithium-ion batteries, which constitute a significant proportion of an EV’s price. Elon Musk, the CEO, acknowledges this issue and is taking steps towards developing cheaper batteries via in-house production and innovation (Rimmer, 2018).
Further, creating an extensive charging infrastructure is also a substantial investment for Tesla. Although Tesla has made significant strides in building charging stations worldwide, this comes with a high cost and geographical challenges. Furthermore, the electric grid’s readiness to support massive EV deployment is another vital concern. Increased demand for electricity could strain existing power grids, especially in countries with less developed infrastructure.
The supply chain issues have also been persistent, given the global structure of the automobile industry. For instance, getting enough lithium and other necessary materials for battery production has presented challenges to Tesla, which could potentially delay the race to make affordable EVs (Zeng, et al, 2019).
2.5. Recommendations
To surmount these challenges, a few recommendations can be made. Tesla should form strategic partnerships with other companies or governments to build charging infrastructure collectively. Collaborations or partnerships could reduce financial stress and hasten the speed of infrastructure deployment.
Moreover, Tesla can further invest in research and development to develop cheaper, more energy-dense batteries using less scarce materials. Collaborations with academic institutions, research bodies, and material science companies could be beneficial in this regard.
Finally, overcoming supply chain challenges would require a more robust supply chain risk management strategy. Adopting local sourcing strategies, creating geographical diversification in suppliers, maintaining strategic reserves, and adopting a proactive approach to detect supply risk could mitigate such challenges.
In conclusion, despite the high price of Tesla’s vehicles and challenges faced due to the high cost of batteries, charging infrastructure, and supply chain issues, the company’s commitment to sustainability is a beacon of hope. With strategic partnerships, investment in research, risk management and more resilient strategies, Tesla’s dream and drive for a sustainable future could be achieved sooner than later.
3. Sustainable in the industry
Tesla operates within the automotive industry in its production of electric vehicles (EVs). In the context of triple-bottom line sustainability, several critical issues are relevant: socio-cultural, environmental, and economic.
Socio-Cultural: The main issue in the socio-cultural sphere for Tesla, and the EV industry at large, is creating consumer behavioral change towards adopting electric vehicles over traditional gasoline cars. A big obstacle here is the prevailing “range anxiety”—the fear that an electric vehicle won’t have enough power to get to its destination before running out of charge. Another issue is the Rural areas have low rates of electric vehicle (EV) adoption, in part because rural areas lack EV charging infrastructure (Tolbert, J., 2021).
Environmental: Although Tesla’s electric vehicles contribute significantly less CO2 to the environment versus conventional vehicles, there are environmental issues associated with battery production. Mining raw materials like lithium, cobalt, and nickel is labor-intensive, requires chemicals and enormous amounts of water—frequently from areas where water is scarce—and can leave contaminants and toxic waste behind (Crawford, I., 2022). The disposal and recycling of used EV batteries pose another significant environmental challenge.
Economic: Investment in the necessary charging infrastructure, gaining market share from firmly established petrol and diesel vehicles, and the initial high cost of developing EV technology pose economic challenges. Additionally, the reliance on government incentives to make EVs competitive against conventional cars can make for a somewhat volatile market situation.
Internationally and within the U.S., many initiatives are underway to address these challenges. Socio-culturally, educating consumers about EV technology, combined with the building out of more extensive charging networks, is starting to assuage range anxiety. Companies like ChargePoint in the U.S., Ionity in Europe, or State Grid Corporation of China are investing heavily in charging infrastructure (LaMonaca, S., & Ryan, L., 2022).
Environmentally, Tesla’s Gigafactory in Nevada is striving for “net-zero energy” — a setup where all energy is sourced from on-site renewable sources (Tesla Inc., 2020). This concept is being integrated into all Tesla’s new factories, including the ones in Shanghai, Berlin, and Texas. Additionally, companies are intensively working on viable recycling programs for EV batteries. For instance, Nissan and Sumitomo opened a facility in Japan to repurpose used EV batteries for energy storage (Elkind, E., 2014).
Economically, the cost of producing EVs is gradually decreasing, with research suggesting price parity with conventional vehicles could happen as soon as 2025 (Wu, H., Alberts, G., Hopper, J., & Walton, B., 2019). EV manufacturers are also seeking to diversify their revenues through services like energy storage, grid services, and car sharing, making them less dependent on government subsidies.
Mercedes-Benz is one of Tesla’s competitors, has embarked on a path towards sustainable mobility under its “Ambition 2039” initiative, aiming to offer a carbon-neutral new passenger car fleet in less than 20 years (Mercedes-Benz, 2019). Efforts include electrifying the entire Mercedes-Benz portfolio, targeting more than half of passenger car sales to be electric vehicles, including plug-in hybrids and all-electric vehicles by 2030. They also focus on battery production with a CO2-neutral energy supply in their European plants (Daimler, 2020). Building on this, they have launched the Mercedes-Benz EQ range, a series of fully electric vehicles and plug-in hybrids to cater to different needs. Given the significant CO2 emissions during the production phase of EVs, Mercedes-Benz has also committed to a supply chain that is transparent and sustainable, underlined by the Human Rights Respect System to ensure responsible procurement (Mercedes-Benz, 2021).
In summary, while Tesla and the EV industry face numerous sustainability challenges in their ambitious endeavor to replace the internal combustion engine, a series of global initiatives, technological innovations, and strategic measures are gradually shaping a sustainable pathway for EV adoption.
4. Conclusion
In short, Tesla Inc. is a trailblazer in the field of sustainability and innovation, with far-reaching implications for its industry and the broader goal of transitioning to a greener, more economical future.
Tesla’s commitment to combating climate change by leading the electric vehicle revolution and pioneering renewable energy technologies underscores Tesla’s dedication to the triple bottom line of sustainability – addressing social, environmental, and economic issues.
While Tesla’s electric vehicles have contributed significantly to the reduction of greenhouse gas emissions, challenges such as the high cost of electric vehicle production, the widespread construction of charging infrastructure, and the complexity of global supply chain management remain. However, these challenges have inspired Tesla to continue to innovate and collaborate. Strategic partnerships, R&D investments, and resilient supply chain management strategies offer potential solutions to overcome these obstacles.
In the automotive industry, Tesla’s efforts to drive behavioral change to adopt electric vehicles, mitigate environmental impact, and address economic challenges demonstrate Tesla’s holistic approach to sustainability. From educating consumers and building charging networks, to focusing on net-zero energy factories and developing battery recycling programs, Tesla’s initiatives exemplify the multifaceted solutions it pursues.
As Tesla continues to grow, its commitment to sustainability remains a model for others in the industry to follow. By confronting challenges, innovating and fostering global collaboration, Tesla has not only shaped its own trajectory of success, but also played a pivotal role in shaping a more sustainable and promising future for the world.
5. Action Plan
Review Sites: Online platforms and review sites that discuss Tesla products and services from a sustainability perspective will provide customer perspectives and feedback. This helps us measure public perception and acceptance of Tesla’s sustainability initiatives.
Industry Publications and News Articles: Industry-specific publications and notable news articles will provide insight into the broader context of the electric vehicle and clean energy industry. These materials will shed light on the challenges and opportunities facing the industry and Tesla’s role in them.
Academic Literature: Peer-reviewed academic literature related to electric vehicles, renewable energy, sustainable manufacturing and corporate sustainability practices will provide a comprehensive understanding of the theoretical and practical aspects of sustainability in Tesla’s business model.
Reference
Budischak, C., Sewell, D., Thomson, H., Mach, L., Veron, D. E., & Kempton, W. (2013). Cost-minimized combinations of wind power, solar power and electrochemical storage, powering the grid up to 99.9% of the time. journal of power sources, 225, 60-74.
Crawford, I. (2022). How much CO2 is emitted by manufacturing batteries. MIT Climate Portal. Retrieved from https://climate.mit.edu/ask-mit/how-much-co2-emitted-manufacturing-batteries
Daimler. (2020). Mercedes-Benz Strategy Update. Retrieved March 14, 2023, from https://www.daimler.com/investors/reports-news/financial-news/strategy-update.html
Elkind, E. (2014). Reuse and repower: How to save money and clean the grid with second-life electric vehicle batteries. Retrieved from https://escholarship.org/content/qt32s208mv/qt32s208mv.pdf
Hausfather, Z. (2019). Factcheck: How electric vehicles help to tackle climate change. Carbon Brief, May, 13.
Kim, H. C., Wallington, T. J., Arsenault, R., Bae, C., Ahn, S., & Lee, J. (2016). Cradle-to-gate emissions from a commercial electric vehicle Li-ion battery: a comparative analysis. Environmental science & technology, 50(14), 7715-7722.
LaMonaca, S., & Ryan, L. (2022). The state of play in electric vehicle charging services–A review of infrastructure provision, players, and policies. Renewable and sustainable energy reviews, 154, 111733.
Mercedes-Benz. (2019). Ambition 2039. Retrieved March 14, 2023, from https://www.mercedes-benz.com/en/sustainability/strategy/ambition-2039/.
Mercedes-Benz. (2021). Sustainability. Retrieved March 14, 2023, from https://www.mercedes-benz.com/en/sustainability/
Rimmer, M. (2018). Elon musk’s open innovation: Tesla, intellectual property, and climate change (pp. 515-551). Springer Singapore.
Statista. (2022, August). Tesla’s revenue 2008-2021. Retrieved from https://www.statista.com/statistics/502208/tesla-annual-revenue/
Tesla, Inc. (2021). About. Retrieved from https://www.tesla.com/about
Tesla, Inc. (2020). Impact report. Retrieved from https://www.tesla.com/ns_videos/2020-tesla-impact-report.pdf
Tolbert, J. (2021). Beyond cities: Breaking through barriers to rural electric vehicle adoption. Environmental and Energy Study Institute. Retrieved from https://www.eesi.org/articles/view/beyond-cities-breaking-through-barriers-to-rural-electric-vehicle-adoption
Wu, H., Alberts, G., Hopper, J., & Walton, B. (2019). New market. new entrants. new challenges. battery electric vehicles. Deloitte LLP, London, UK, 1-24.
Zeng, X., Li, M., Abd El‐Hady, D., Alshitari, W., Al‐Bogami, A. S., Lu, J., & Amine, K. (2019). Commercialization of lithium battery technologies for electric vehicles. Advanced Energy Materials, 9(27), 1900161.
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