Foundation of Leadership
Question
Foundations of Leadership - Assignment 2
If you have a Study.com College Accelerator membership and are seeking college credit for this course, you must submit two graded nal assignments and pass the proctored nal exam. The assignments must be submitted before registering for the exam. Assignment details and submission instructions are below.
Assignment Description
This assignment is designed to allow you to demonstrate your knowledge of the roles and responsibilities of leaders in the management and operations of an organization, including the critical roles of decision making, and communication. You will conduct a leadership analysis to apply concepts learned throughout the course and explore aspects of motivation, con ict and change management, and diversity in contemporary organizations.
Choose a publicly traded organization. Research the company's mission, vision, and value statements. Write a paper that de nes each type of statement and explores how a company's mission, vision, and values guide organizational standards and practices.
Your written assignment should be 1,500 to 2,000 words in length and include the following sections and information:
Company Overview and History: What is the company's history of existence and background since incorporation? What products and/or services does the company o er?
Company Mission Statement: What is a mission statement? How does it create a guide for organizational standards and practices within an organization? What is the chosen company's mission statement? Analyze the strength of the statement and provide a recommendation on how the mission statement could be altered or rewritten to strengthen it.
Company Vision Statement: What is a vision statement? What is chosen company's vision statement? How is the company's vision supported by leaders and employees throughout the company?
Company Values Statement: What is a values statement? What is the chosen company's values statement? How do the company's values contribute to providing quality consumer goods/services?
Formatting & Sources
Please write your paper in the APA format. As part of your research, you may refer to the course material for supporting evidence, but you must also use at least two credible, outside sources and cite them using APA format as well. Please include a mix of both primary and secondary sources, with at least one source from a scholarly peer-reviewed journal. If you use any Study.com lessons as sources, please also cite them in APA (including the lesson title and instructor's name).
Primary sources are rst-hand accounts such as interviews, advertisements, speeches, company documents, statements, and press releases published by the company in question.
Secondary sources come from peer-reviewed scholarly journals, such as the Journal of Management. You may use like JSTOR, Google Scholar, and Social Science Research Network to nd articles from these journals. Secondary sources may also come from reputable websites with .gov, .edu, or .org in the domain.
(Wikipedia is not a reputable source, though the sources listed in Wikipedia articles may be acceptable.)
If you're unsure about how to use APA format for your paper and sources, please see the following lessons:
What is APA Format? De nition & Style
Grading Rubric
The course syllabus provides more information regarding the assignment grading policy for course assignments.
|
Category |
Unacceptable (0-1) |
Needs Improvement (2-3) |
Good (4) |
Excellent (5) |
Total Possible Points |
|
Quality and thoroughness in addressing the topic (x3) |
The submission was not well-written and lacked supporting detail. |
Most of the research ndings achieved the basic desired result. |
The topics discussed were speci c, clear, and well-written. |
Submission included supporting detail, speci c, clear, and well-written. |
15 |
|
Mission statement analysis and quality of supporting detail (x3) |
The presentation of the mission statement was vague and the associated detail was not written well. |
The associated mission statement detail was not written well and was insu cient but achieved the desired result. |
The mission statement supporting detail was su cient, understandable and clearly written. |
The mission statement supporting detail was understandable and clearly written. Submission included an example. |
15 |
|
Discussion of the signi cance of a company's vision and values (x2) |
The student's selected company vision and values were not present in the submission. |
The vision and values did not include su cient supporting detail. |
The vision and values were included with su cient supporting detail present in submission. |
The vision and values were included with su cient supporting detail. |
10 |
|
Mechanics (x2) |
Incorrect spelling, punctuation, capitalization, and use of standard English grammar that frequently interferes with meaning. |
Several instances of incorrect spelling, punctuation, capitalization, and/or usage grammar |
Few instances of incorrect spelling, punctuation, capitalization, and usage of grammar |
No or very few instances of incorrect spelling, punctuation, capitalization, and usage of grammar |
10 |
Before You Submit
When you have completed writing your analysis, proofread the document to ensure there are not any grammatical or spelling errors present. Also, check for plagiarism so that your case study analysis is not too similar to any existing materials. You may want to use plagiarism checkers like PlagScan or DupliChecker Note: Plagiarized submissions will NOT receive a score.
How to Submit Your Papers
When you are ready to submit your assignments, please ll out the submission form and attach your assignment as a Microsoft Word, PDF, or Text document. After turning in both assignments, you may go ahead and take the proctored nal exam. You do not need to wait for your written response to be graded. You should receive your assignment grade within one week.
If you are not satis ed with the score you receive on your assignments, you may revise or rewrite your papers and resubmit them for grading using the same submission form. Keep in mind that the grade you receive on your assignments is only a portion of your overall grade for the course, and you are free to retake the proctored nal exam as well if you choose. Please see the course syllabus for a more detailed breakdown of the grading policy.
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Solution
Foundation of Leadership
The public traded company, in most instances, is defined as a corporation that has listed itself on at least one public stock exchange and has issued securities for ownership in the company to public investors. To be a public corporation, it is fundamental that the organization undergo a process known as Initial Public Offering that must be approved by the country's Securities and Exchange regulators. For that case, the public traded organization I am going to discuss in this paper is Tesla, Inc., one of the giant companies in the United States and the world today.
Company Overview and History
Tesla was founded in 2003 by a group of engineers who wanted to show that driving an electric vehicle was superior to driving a gasoline-powered vehicle in terms of speed, quality, and fun. Since it was established between 2003 to 2017, the company was referred to as Tesla Motors before the name was formally changed to Tesla, Inc. It is clear that the company was named Tesla after the Serbian American Investor Nikola Tesla (Simonds, 2021). Based on the organization's historical background, it was established to develop an electric sports car. When the company was established, Martin Eberhard was chief executive officer, and Marc Tarpenning was its chief financial officer. Furthermore, because the company was publicly traded, it received funding from various sources, including PayPal co-founder Elon Musk, who contributed more than $30 million to the startup company and served as chairman starting in 2004. Given that the company was founded in the energy and automotive industries, it provides various services and products to the market. For example, the firm creates, designs, sells, manufactures, and leases electric vehicles and power generation mechanisms. It is also significant that the organization produces and sells the Model Y, Model 3, Model X, Cybertruck, Tesla Roadster Vehicles, and Tesla Semi. The company has advanced to all-electric vehicles that are ready for the market and limitless renewable energy generation and storage technologies. It is crucial that the business was established to ensure that the world moves away from dependence on fossil fuels and toward a future with no emissions.
From the existing history of the company and its background, it is clear that the reason Tesla has been able to remain successful in the market is because of the unique services and products they offer in the market. For instance, the company has been able to come up with new regulations on safety and vehicle emissions, promoting technological advancement and shifting customers' expectations (Simonds, 2021). Best described as a battery company Tesla has been able to become out and become one of the best-selling electric cars in history. Apart from electric cars, the company has been known for specializing in solar panels and Lithium-ion battery energy storage.
Company Mission Statement
The goal of Tesla Inc. is to hasten the global switch to renewable energy. Since the company's inception, Elon Musk and his team have been trying to show the public that driving an electric vehicle is faster, better, and more enjoyable than driving a gas-powered vehicle. Although the company was founded in 2003 and had a goal up until the middle of 2016, Elon Musk modified it to help hasten the global switch to renewable energy (Business Strategy Hub, 2022). The decision to update its mission statement shows a small but significant shift in the company's business strategy to take advantage of prospective markets for sustainable energy. The company's new mission statement makes it substantially easier for it to understand the market value of its batteries and related energy storage goods, as well as the market for electric vehicles. Elon Musk's leadership changed the company's aim to capitalize strategically on the market potential for renewable energy.
Having looked at the statement keenly, creating a guide for organizational standards and practices is fundamental. For instance, the company was directed by the declaration to novel technology for environmentally friendly products and ventures that use renewable energy. The corporation may now focus on energy as a crucial component of its business instead of moving the world to sustainable transportation, as opposed to its earlier assertion. It is clear that the company, using the mission statement, could change traditional energy uses to more sustainable and clean energy sources in the motor vehicles industry. More importantly, the statement guided the organizational standards because Tesla, Inc, knew the importance of preserving the environment to make the planet stable. But to achieve preserving the planet's stability, Tesla concentrated all its resources on coming up with the most applicable technologies to ensure manufacturing the electric car reality. Additionally, the business could use its mission statement to concentrate on the worldwide shift, showing that the statement guided its operations and helped it gain supremacy in the global market for electric vehicles and related goods. It is also obvious that the firm had to ensure that its procedures covered other ecologically renewable energy sources in addition to creating electric cars after the goal statement changed from sustainable transport to sustainable energy. As that helped the organization not only meet the consumers' demand in the market but also increase its potentially profitable in the market. Therefore, it is clear that by using the mission statement, Tesla could influence other players in the market to recognize the place of renewable and green energy in the modern era.
It is evident from the company's assessment that its chosen objective is to promote the global switch to sustainable energy. The corporation changed its business strategy in response to the market opportunity for renewable energy, which is why this assertion has strength. Another sign of the statement is that it guided Tesla on the strategic decisions it needed to embrace to achieve its market profitability effectively. Therefore, in my view, I recommend that the company alter its mission to transiting the world into more sustainable energy as that will give the statement more strength.
Company Vision Statement
In order to support the growth of the global renewable energy market, Tesla's objective is to ensure that the firm concentrates on the electric vehicle industry. The business's mission is to "drive the world's transition to electric vehicles to establish the most appealing automobile firm of the 21st century." The company's vision statement must be fundamentally centered on renewable energy. More importantly, the chosen company's mission is to lead the world's transition to electric vehicles and become one of the most appealing automotive companies (Business Strategy Hub, 2022). Notably, the company's vision statement emphasizes helping the globe embrace the expansion of the renewable energy market. Tesla, Inc. strives to be the most compelling firm in the industry in accordance with the company's stated vision statement. This denotes corporate good leadership and excellency. The Tesla leaders, led by Elon Musk, have been at the forefront in ensuring that the vision of the company is achievable by embracing transformational leadership. Further, using the statement, the leaders and employees have supported the company in developing the most innovative and renewable products that meet consumers' needs in the market (BUSINESS ANALYSIS. (n.d). In order to build the world's best auto company, Tesla's leadership and its employees have been working together to ensure that they achieve the company vision to turn the world into a renewable energy source. This was made possible by ensuring that technology was included in the company's electric vehicles and related aims. More importantly, the business culture pushed managers and staff to always develop fresh concepts and solutions, supporting the organization's goal of being the most alluring automaker of the twenty-first century. The company CEO Elon Musk has shown other industries through its vision how the working environment in a company can spark innovation. The trust and responsibility among the employees have enabled them to support the company's vision.
Company Values Statement
When it comes to value, the company's core values comprise "doing the best, taking risks, constant learning, respect, and environmental consciousness. It is clear that the company uses its chosen values as principles for the overall practices and attitudes of the stakeholders and employees in the organization. It is fundamental that the chosen company values statement emphasizes performance, which has seen Tesla advance technologically and encourages employees to take calculated risks while driving innovations. The company chosen value statement has been essential in promoting its growth in the market because the success it has been recording currently in the market has been contributed with respect among different stakeholders that come in contact with the company. Such a conducive environment in the company has promoted the overall learning of everyone, thus ensuring that it is one of the best automobile entities in the market today (Nguyen Le. (n.d). It is significant that the company's value of respect and doing the best has enabled it to offer the consumers the best products and services in the market, thus earning their loyalty. More importantly, the company has advanced technologically because it has focused on performance while encouraging its employees to take calculated risks to drive breakthroughs. The company's success in the market has also been contributed by its promotion of respect among the stakeholders, thus promoting effective customer services and goods.
References
BUSINESS ANALYSIS. (n.d.). Tesla Mission and Vision Statement Analysis. Edrawsoft. Retrieved June 23, 2022, from https://www.edrawmind.com/article/tesla-mission-and-vision-statement-analysis.html
Business Strategy Hub. (2022, March 8). Tesla Mission Statement, operational goals, & culture. Business Strategy Hub. Retrieved June 23, 2022, from https://bstrategyhub.com
Nguyen Le, T. (n.d.). Inside tesla company culture: Innovative and propelling. Grove HR Solution. Retrieved June 23, 2022, from https://blog.grovehr.com/tesla-company-culture
Simonds, D. (2021, January 27). Tesla Mission Statement 2022: Tesla Mission & Vision Analysis. Tesla Mission Statement 2022 | Tesla Mission & Vision Analysis. Retrieved June 23, 2022, from https://mission-statement.com/tesla
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