Technological Innovation on TESLA’s Business Growth
Research background & justification
TESLA in energy and American automatic company specialized in solar panel manufacturing and electric car manufacturing. Martin Eberhard and Marc Tarpenning founded TESLA in July 2003 under the name of TESLA motors. TESLA has adopted a number of technological innovations such as electric trucks, performance batteries etc. The research is significant for exploring technological innovations of TESLA which further helps in improving its business performance.
Research objectives, questions, and sub-questions
• To determine technological innovation’s role in brand value and business performance.
• To analyze the impact of technological innovations on financials of TESLA.
RQ.1: What impact is created by technological innovations on TESLA’s business growth.
(Adepoju, Olomu and Akinwale, 2017) analyzed the impact created by R&D process, expenditure and product innovations on the performance of SME’s. New technologies have become the main component of human lives. Data is collected from 1000 SMEs using survey and the results reveal that product innovation and R&D spending has a significant impact on the organizational performance.
This research is conducted by following the Qualitative research method. The first step is to provide background information and justification of research. After this, the research objectives are stated and research question along with the sub-research questions are formulated. The related work of different authors is performed which includes current and past work related to incorporating technological innovations. After conducting related work, the research methodology is formulated which describes different steps of research. Both primary and secondary data is collected in this research, where primary data is collected through questionnaire and secondary data is collected from annual year reports, CSR reports of TESLA organization. From these secondary resources, information regarding business growth due to the incorporation of technological innovations is collected. After collecting data, the specific requirements of research methodology are determined and in the last section, the resources and references
to cite the work are included.
Data collection method including questionnaire design
Primary data is collected through a questionnaire which is distributed to TESLA organization through survey monkey tool and emails. 10 different questions are included in the questionnaire design and Likert scale method is used for scaling respondents’ responses. Secondary data is collected from journal articles, CSR reports, annual year reports. Random sampling is used for selecting the sample size of respondents which is equal to 20.
Q.1: What’s your age?
Q.2: What is your job experience or technical experience?
• 2 years
• 3 years
• More than 3 years
Q.3: Do you agree that technological innovations help in improving your organizational business growth?
• Strongly agree
• Strongly disagree
The research is conducted which is free from any kind of harm to the society and by considering the beneficence of society. This research does not involve any kind of plagiarism issue as genuine and original content is used in this research. Moreover, this research is free from copyright issues as the methodology or framework used in this research can be generalized easily.