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Tesla Motors Company Overview Business Report

This research provides the target readers with a summary of a publicly traded company
known as Tesla Motors. The study offers a comprehensive overview of the business operations.
The emphasis is on the way Tesla Motors accelerates the situation in the world relating to the use
of sustainable energy. The report outlines the existing products and services of the company,
comprising its recent developments. At the same time, the study discusses both sales and
marketing strategies used by Tesla Motors in the global marketplace. It also addresses the
financial services of the company, including the aspects of manufacturing, supply chain
management, and quality control. In addition, the report covers its relationships with the target
customers, including the regulations of safety while testing the vehicles. The research also
consists of the analysis of the competing companies along with the evaluation of risk factors,
employment opportunities, and use of innovative technologies. Finally, the study provides an
overall report on the profile of the selected company and its performance in the global
Overview and History

Tesla Motors is named after electrical engineer and physicist Nikola Tesla.[25][26] The Tesla
Roadster uses an AC motor descended directly from Nikola Tesla's original 1882 design.[27] The
Roadster, the company's first vehicle, was the first production automobile to use lithium-ion
battery cells and the first production EV with a range greater than 200 miles (320 km) per
charge.[28] Between 2008 and March 2012, Tesla sold more than 2,250 Roadsters in 31
countries.[29][30][31] Tesla stopped taking orders for the Roadster in the U.S. market in August
2011.[32] In December 2012, Tesla employed almost 3,000 full-time employees.[6][33] By
December 31, 2015, this number had grown to 13,058 employees,[34] and to over 30,000 (of
which 25,000 in US) after acquiring Grohmann and SolarCity in late 2016.[35]

Tesla unveiled the Tesla Model S all-electric sedan on March 26, 2009,[36] and began deliveries
in June 2012.[37] First deliveries of the Model X began in September 2015.[38] Global sales of the
Model S passed the 100,000 unit milestone in December 2015, three years and a half after its
introduction.[13] The Model 3, the company's first model aimed for the mass market, was
unveiled in March 2016. A week after the unveiling, global reservations totaled 325,000 units,
representing potential sales of over US$14 billion.[17][39] As of June 2016, the Model S ranked as
the world's all-time second-best-selling plug-in after the Nissan Leaf.[15]

Tesla Motors and its Business Offers

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Tesla’s mission is to accelerate the world’s transition to sustainable energy.

Tesla Motors was founded in 2003 by a group of engineers in Silicon Valley who wanted to
prove that electric cars could be better than gasoline-powered cars. With instant torque,
incredible power, and zero emissions, Tesla’s products would be cars without compromise. Each
new generation would be increasingly affordable, helping the company work towards its
mission: to accelerate the world’s transition to sustainable transport.

Tesla’s engineers first designed a powertrain for a sports car built around an AC induction motor,
patented in 1888 by Nikola Tesla, the inventor who inspired the company’s name. The resulting
Tesla Roadster was launched in 2008. Accelerating from 0 to 60 mph in 3.7 seconds and
achieving a range of 245 miles per charge of its lithium ion battery, the Roadster set a new
standard for electric mobility. Tesla would sell more than 2,400 Roadsters, now on the road in
more than 30 countries.

In 2012, Tesla launched Model S, the world’s first premium electric sedan. Built from the ground
up to be 100 percent electric, Model S has redefined the very concept of a four-door car. With
room for seven passengers and more than 64 cubic feet of storage, Model S provides the comfort
and utility of a family sedan while achieving the acceleration of a sports car: 0 to 60 mph in
about five seconds. Its flat battery pack is integrated into the chassis and sits below the occupant
cabin, lending the car a low center of gravity that enables outstanding road holding and handling
while driving 265 miles per charge. Model S was named Motor Trend’s 2013 Car of the Year
and achieved a 5-star safety rating from the U.S. National Highway Traffic Safety

In late 2014, Tesla CEO Elon Musk unveiled two dual motor all-wheel drive configurations of
Model S that further improve the vehicle’s handling and performance. The 85D features a high
efficiency motor at the front and rear, giving the car unparalleled control of traction in all
conditions. The P85D pairs a high efficiency front motor with a performance rear motor for
supercar acceleration, achieving a 0 to 60 mph time of 3.2 seconds – the fastest four-door
production car ever made.

Tesla owners enjoy the benefit of charging at home so they never have to visit a gas station or
spend a cent on gasoline. For long distance journeys, Tesla’s Supercharger network provides
convenient and free access to high speed charging, replenishing half a charge in as little as 20
minutes. Superchargers now connect popular routes in North America, Europe, and Asia Pacific.

Tesla’s vehicles are produced at its factory in Fremont, California, previously home to New
United Motor Manufacturing Inc., a joint venture between Toyota and General Motors. The
Tesla Factory has returned thousands of jobs to the area and is capable of producing 2,000 cars a

The company is expanding its manufacturing footprint into other areas, including in Tilburg, the
Netherlands, where it has an assembly facility, and Lathrop, California, where it has a
specialized production plant. To reduce the costs of lithium ion battery packs, Tesla and key
strategic partners including Panasonic have begun construction of a gigafactory in Nevada that
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will facilitate the production of a mass-market affordable vehicle, Model 3. By 2018, the
gigafactory will produce more lithium ion cells than all of the world’s combined output in 2013.
The gigafactory will also produce battery packs intended for use in stationary storage, helping to
improve robustness of the electrical grid, reduce energy costs for businesses and residences, and
provide a backup supply of power.

Tesla is not just an automaker, but also a technology and design company with a focus on energy

Future of Tesla Models

Future Tesla Motors cars may enhance autonomous driving. In 2014, CEO Elon Musk predicted
fully autonomous driving technology might be ready within 6 years, but "it will take several
more years for governments to work out the industry guidelines for wide embrace of the

Other vehicle categories have been presaged. In June 2009, Tesla announced plans for electric
minivans, crossover SUVs and electric fleet vans for municipal governments.[292][293] In 2010,
Tesla articulated ideas besides the Model X crossover: a utility van and cabriolet were discussed
that, if built, would be based on the second-generation platform like Model S.[294] Besides the
third-generation platform to be used in Model 3, the possibility of a truck was discussed in
2012.[295] In July 2015, it was announced that a successor to the Roadster would debut in
2019.[296] In October 2015, Musk revealed a future 'Model Y' that would be a Model 3/Model X-
like cheaper crossover utility vehicle with falcon-wing doors,[297] and Tesla trademarked the
name "Model Y" in 2013.[298] Musk hopes to produce a car cheaper than the Model 3, to be
affordable for everyone:[299][300]

There will be future cars that will be even more affordable down the road . . . With fourth
generation and smaller cars and what not, we’ll ultimately be in a position where everyone can
afford the car.

— Elon Musk at the Future Transport Solutions conference in Oslo, April 21, 2016

Musk wanted the first three models to spell S-E-X but settled with "S3X" since Ford owns the
trademark to "Model E". However, the digit "3" will be stylized like three horizontal bars,
making it indistinguishable from the "E" in Tesla's logo.[301] After the Model Y is released, the
four models will spell "S3XY".

Future models may also reach a 500-mile (800 km) range, partially because of a new patented
battery system, pairing metal-air and lithium-ion batteries.[302]

On July 20, 2016, Musk detailed his master plan for Tesla that has been in the works for 10
years. It includes the manufacturing of more affordable cars produced in higher volume, solar
power roofs, mid-size vehicles, SUV's and pickup trucks, as well as the refinement of
autonomous vehicles and the creation of a sharing economy, in which cars can be requested and
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driven while the owner is not using them.[303] A Tesla Minibus would be built on the Model X

Tesla’s Innovative Technologies, Regulations, Vehicle Safety, and Testing

Tesla Motors builds electric powertrain components for vehicles from other automakers,
including the Smart ForTwo electric drive (the lowest-priced car from Daimler), the Toyota
RAV4 EV, and Freightliner's Custom Chassis Electric Van.

Tesla Electric Car Recharging Station (USA, 2014)

Unlike other automakers, Tesla does not use single-purpose, large battery cells, but thousands of
small, cylindrical, lithium-ion 18650-like commodity cells used in laptops and other consumer
electronics devices. It uses a version of these cells that is designed to be cheaper to manufacture
and lighter than standard cells by removing some safety features. According to Tesla, these
features are redundant because of the advanced thermal management system and an intumescent
chemical in the battery to prevent fires.[158] Panasonic is the only supplier of the battery cells for
the car company, and cooperates with Tesla in the Gigafactory building the '21-70' cells.[159]

Tesla Motors may have the lowest costs for electric car batteries, estimated at US$200 per
kWh.[98][158][160] Tesla indicated in 2016 that their battery pack costs less than $190/kWh.[161]
Argonne Labs estimates $163/kWh at 500,000 packs per year.[162] Tesla charges US$400/kWh
for the 85-kWh battery,[citation needed] US$10,000 more than the 60-kWh battery.[when?] At
US$200/kWh, the battery in the 60-kWh Model S would cost US$12,000, while the 85-kWh
battery would cost US$17,000. The price increase is closer to US$8,000, because supercharging
is included in the higher price. Use of lifetime supercharging was a US$2,500 option for the
early 40-kWh and 60-kWh versions of Model S.[citation needed]

Unlike the Tesla Roadster, whose battery is behind the seats, the Model S, 3 and X batteries are
inside the floor. This saves interior space and trunk space but, together with the low ride of the
Model S, increases risk of battery damage by debris or impact. To protect the battery, the Model
S has 0.25 in (6 mm) aluminum-alloy armor plate.[163] The battery's location allows quick battery
swapping, which can take as little as 90 seconds in the Model S.[164] Tesla's first and only battery
swap station is located at Harris Ranch, California, and became operational in December
2014.[165] Due to lack of customer interest, battery swapping will not expand.[166] Straubel
expects batteries to last 10–15 years,[167] and discounts using electric cars to charge the grid
(V2G) because battery wear outweighs economic benefit. He also prefers recycling over re-use
for grid once batteries have reached the end of their useful car life,[168] and an analyst agreed.[169]
Since 2008, Tesla has worked with ToxCo/Kinsbursky to recycle worn out RoHS batteries,
which will be an integral part of GigaFactory.[170][171][172]

Technology sharing
The Tesla Patent Wall at its headquarters was removed after the company announced its patents
are part of the open source movement.[173]
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Tesla CEO Elon Musk announced in June 2014, that the company will allow its technology
patents be used by anyone in good faith.[174] Post-2014 agreements were expected to be executed
that would include provisions whereby the recipients agree not to file patent suits against Tesla,
or to copy its designs directly.[175] Reasons expressed for this stance include attracting and
motivating talented employees, as well as to accelerate the mass market advancement of electric
cars for sustainable transport. "The unfortunate reality is, electric car programs (or programs for
any vehicle that doesn't burn hydrocarbons) at the major manufacturers are small to non-existent,
constituting an average of far less than 1% of their total vehicle sales," Musk said. Tesla will still
hold other intellectual property, such as trademarks and trade secrets, which would help to
prevent direct copying of its vehicles.[176]


AutoPilot provides semi-autonomous driver assist in all Tesla vehicles manufactured since late
September 2014. These vehicles are equipped with a camera mounted at the top of the
windshield, forward looking radar (supplied by Bosch)[177][178] in the lower grill and ultrasonic
acoustic location sensors in the front and rear bumpers that provide a 360-degree buffer zone
around the car. This equipment allows vehicles to detect road signs, lane markings, obstacles and
other vehicles. In addition to adaptive cruise control and lane departure warning, a US$2,500
"Tech Package" option allows this system to enable semi-autonomous drive (called Summon)
and parking capabilities (called AutoPark).[179][180] These features were activated via over-the-air
software updates as of October 15, 2015. The AutoPilot system as of version 8 uses the radar as
the primary sensor instead of the camera.[181]

Starting October 2016, all Tesla cars are built with the necessary hardware to allow full self-
driving capability at a safety level (SAE Level 5). The hardware includes eight surround cameras
and twelve ultrasonic sensors, in addition to the forward-facing radar.[182] The system will
operate in "shadow mode" (processing without taking action) and send data back to Tesla to
improve its abilities until the software is ready for deployment via over-the-air upgrades.[183]
Therefore, Tesla cars with the new hardware will not have automatic emergency braking,
collision warning, lane holding and active cruise control initially; these will be activated after the
features are validated over 2–3 months. After the required testing, Tesla expects to enable full
self-driving by the end of 2017.[184][185]

Tesla glass

In November 2016, the company revealed that they have created a Tesla glass technology group.
The group is developing the glass that will be used in the Solar City roof tiles that were
announced in October 2016. The group will also develop and manufacture the roof glass for the
Tesla Model 3.[186]

Innovatie Development Approach

In the last decade, virtually every automaker has relocated portions of vehicle and vehicle
technology development to new R&D facilities in the San Francisco-to-San Jose tech corridor. In
fact, some early innovators predate Tesla: BMW, Daimler, and Volkswagen set up shop in the
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Valley in the mid-1990s, and Honda opened its first office in 2003, the same year Tesla was

The reasons for doing so now go beyond manufacturing. Automotive OEMs are co-locating with
the likes of Apple, Cisco, Facebook, Google, HP, Intel, NVIDIA, and Oracle to help speed the
pace of innovation. This involves accelerating the pace of hardware, software, services, and
applications development but also rethinking the process of design.

The development speed of a typical mobile device is often six months or less. Compare that with
the design-to-production timing for a new vehicle of approximately four years and it’s no wonder
car-buying consumers have been underwhelmed by standard in-vehicle electronics. Even today,
consumers can find navigation and infotainment systems designed in 2008 for sale in model-year
(MY) 2014 vehicles. To give an idea of how ancient that is in “tech-years,” BlackBerry held
more than 50% market share among smartphone users in 2008. Remember BlackBerry?

Tesla has had a competitive advantage over auto industry rivals in design innovation since day
one. Located in arguably the center of the world for technological innovation, Tesla was able not
only to construct its vision of mobility in Silicon Valley, but also recruit its employees from
many of the leading technology companies to design and build the car there as well. All other
OEMs grasping for automotive technology leadership had to learn the culture of Silicon Valley,
figure out how to adapt to it, and dissolve the century-old “way of doing things.” Tesla was born
into it.

Corporate Strategy, Customer Relationships, Sales, Marketing, and Financial Services

Tesla's strategy has been to emulate typical technological-product life cycles and initially enter
the automotive market with an expensive, high-end product targeted at affluent buyers. As the
company, its products, and consumer acceptance matured, it is moving into larger, more
competitive markets at lower price points.[41][92] The battery and electric drivetrain technology
for each model would be developed and paid for through sales of the former models.[41][93] The
Roadster was low-volume, priced at US$109,000. Model S and X are mid-price and mid-volume;
Model S had a base price of US$57,400. Model 3 is aimed at high-volume with a base price of
US$35,000.[42][94] This business strategy is very popular in the technology industry such as for
cellular phones, laptop computers, and flat-screen televisions.[95] According to a blog post by
Musk, "New technology in any field takes a few versions to optimize before reaching the mass
market, and in this case it is competing with 150 years and trillions of dollars spent on gasoline

Tesla Motor's high degree of vertical integration (80% in 2016 according to Goldman Sachs),
which includes component production and proprietary charging infrastructure, is rare in the
automotive industry, where companies typically outsource 80% of components to suppliers,[97]
and focus on engine manufacturing and vehicle assembly.[98][99]

Some of Tesla's stated goals are to increase the number and variety of electric vehicles (EVs)
available to mainstream consumers by:
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 selling its own vehicles in company-owned showrooms and online[100]

 selling powertrain components to other automakers[101][102]
 serving as a catalyst and positive example to other automakers[42][55][103][104]

Tesla focuses on pure-electric propulsion technology, even for larger vehicles and ranges beyond
200 miles (320 km). Musk won the 2010 Automotive Executive of the Year Innovator Award for
hastening the development of electric vehicles throughout the world.[105]

Tesla aims to disrupt the automotive industry by bringing many innovative pieces which fit
together to bring tremendous advantages; this strategy was called 'complex coordination' by
Tesla investor Peter Thiel (see PayPal Mafia).[106]

Arnnon Geshuri, the Vice President of Human Resources since November 2009, has committed
to bringing manufacturing jobs "back to California".[107][108] In 2015, Geshuri led a hiring spree
for Tesla about which he said; "In the last 14 months we've had 1.5 million applications from
around the world. People want to work here."[109] Geshuri also emphasizes hiring military
veterans, saying "Veterans are a great source of talent for Tesla, and we're going after it."[108][110]
The company is known for its outreach efforts to hire American military veterans.[111]

On August 1, 2016, Tesla Motors Inc. publicly announced that it had agreed to acquire SolarCity
Corp. for $2.6 billion in stock. SolarCity is the largest installer of rooftop solar systems in the
United States.[112] More than 85% of unaffiliated shareholders from Tesla and SolarCity voted to
approve the acquisition on November 17, 2016,[113][114] which was closed on the morning of
November 21, 2016.[115]

Sales model

Tesla Motors operates more than 200 stores and galleries, 120 of which are outside the US. It
owns the stores and sells directly to customers via the internet and in non-US
stores.[116][117][118][better source needed]

In August 2015, Tesla launched a revamp of its stores worldwide for the debut of its Model X.
Stores will include interactive displays focused on four themes: safety, autopilot, charging
network and the dual motors that power each axle.[119]

Manufacturing, Supply Chain, and Quality Control

Manufacturing differences

The system is clearly in a class of its own. However, with all of these high-end specifications,
how can Tesla sell this as a standard feature in every Model S? More disruption.

The company chose to change up the supply chain and borrow from the electronic manufacturing
services (EMS) model of production that is standard practice in the consumer electronics
industry. In this respect, Tesla is closer to being a technology company than a traditional
automobile maker. Much like how Apple designs the iPhone and then employs Foxconn to build
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it, Tesla contracted with a leading EMS provider to build its center infotainment system,
instrument cluster, and several other systems in the Model S. This model required Tesla to
internalize much of the hardware and software development, as well as the systems integration
work. Given that Tesla has hired its engineers from all over Silicon Valley and beyond, this was
not a problem.

The Silicon Valley culture and the EMS approach to manufacturing were a clear advantage for
Tesla at one time but no longer make it unique. The EMS model is expanding in the automotive
industry, and the likes of Compal, Flextronics, Foxconn, and Jabil are working with brands
including Chrysler, Daimler, Ford, General Motors (GM), Jaguar, and Volkswagen.

However, the transition to the EMS model can be problematic. Ford outsourced the entire
infotainment architecture for the development and deployment of MyFord Touch in 2011 to an
EMS provider. The initial system had technical software problems that required Ford to issue
several software upgrades. This cost tens of millions of dollars, contributed to a poor customer
experience, and caused perception problems for Ford, from which the company has only recently


Risk Factors and Challenges

What does the future hold?

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 Created a fun-to-drive electric roadster. Check.

 Leveraged the lessons to scale-up to a full-luxury sedan. Check.
 Disrupted the luxury car market and, according to IHS Automotive data, attracted
“conquest” buyers from the likes of BMW, Mercedes, and Lexus, not to mention Toyota
and other volume brands. Check.
 Diverged from entrenched supply chains to develop technology in-house and lowered
per-unit development costs for an industry-leading infotainment platform. Check.
 Addressed a software-related vehicle safety recall in one day for almost 30,000 cars.
 Created a company destined to influence the industry as a whole and did so while
pleasing Wall Street. Check.

Tesla has established benchmarks for infotainment system hardware, software flexibility, and
manufacturing supply chain. The company innovated powertrain design, which has proven both
robust and viable for everyday use. And it has received plenty of accolades for aesthetic design
from the automotive media. The result is that “made in Silicon Valley” is no longer roundly
dismissed as an option for an automotive OEM.

So what’s next for Tesla? How does it maintain its leadership in technology development? Has it
created a sustainable competitive advantage? Can it deliver on promises of a new luxury
crossover with the Model X and a new high-volume EV competitor with the Model 3? Will Tesla
be able to steal market share from not only luxury marques, but also from higher-volume brands?
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Going forward, Tesla faces five distinct challenges:

Consumer demand. Perhaps the most significant is consumer acceptance of electric vehicles. In
the first eight months of 2014, EVs accounted for only 0.7% of the 11.2 million light-vehicle
sales in the US. Even Renault-Nissan CEO Carlos Ghosn, a staunch supporter of EVs, last year
acknowledged Renault-Nissan would miss its original 2016 target of selling 1.5 million EVs by
four to five years.

Dealerships and service. Today, Tesla’s direct-sales model is illegal in most US states. As Tesla
attempts to go mainstream, it will need the legal restrictions lifted or be forced to adjust its
model. Further, as vehicles age and the numbers sold increase, there will be maintenance issues
that cannot be handled by OTA software updates. Tesla will need to build out an after-sales
service network that is robust enough to handle the demand.

Marketing. To date, demand for the Model S exceeds supply. But as the company targets the
mass market with the Model 3 and aims for 500,000 units sold in 2020, it will need to beef up its
marketing. Tesla’s Apple Genius-bar-inspired dealership model has worked for the affluent early
adopters, but can it be scaled up to meet its sales targets?
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According to IHS registration data, 51.8% of all Tesla buyers have annual household incomes
over $150,000. By comparison, the percentage of Chevrolet Malibu buyers with a household
income higher than $150,000 is only 6.5%. Tesla will need to create a marketing strategy that
targets economy-car consumers, who are notably different than those who buy the $80,000 to
$100,000 Model S.

Production Boosting output will likely mean growing pains for Tesla as it transitions to a high-
volume production model. How the company manages the transition will determine Tesla’s near-
term future. Of course, many automakers have had difficulties ramping up new plants or
launches and yet overcome the challenges in the longer term. While growing pains are to be
expected, there is no reason to believe Tesla does not have the capacity to become a volume

Innovation. Tesla has already made a name for itself around technology adoption and
innovation. But it will be challenged, as all first movers are, to maintain that lead and continue to
push the boundaries with future products. Assuming the gigafactory and its supply chain allow
Tesla to make a mass-market offering and keep its infotainment stack as an industry benchmark,
the company’s next move will be automated driving. Musk has already stated that Tesla will “hit
the market” by 2017 with a partially self-driving vehicle. With many other OEMs targeting this
time frame as well, Tesla might not be as disruptive in automated driving as it has been in
infotainment design and sustainable mobility

But then again, it might surprise the market and break loose another game-changing product or
technology before the rest of the automotive industry is ready—because that’s how Silicon
Valley works.


Working at Tesla

We work in small, focused teams that are agile, efficient and focused on excellence. The pace is
fast, the work is stimulating, structure is limited and innovation is expected. Based in the San
Francisco Bay Area, Tesla has satellite offices in Los Angeles and Amsterdam plus over one
hundred retail and service locations around the world.
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Tesla Motors (often shortened to Tesla) is an American automaker and energy storage company
co-founded by Elon Musk, Martin Eberhard, Marc Tarpenning, JB Straubel and Ian Wright, and
is based in Palo Alto, California. The company specializes in electric cars and their powertrain
components and also produces battery charging equipment.[7][8][9]

Tesla first gained widespread attention following its production of the Tesla Roadster, the first
electric sports car, in 2008.[10] The company's second vehicle, the Model S, an electric luxury
sedan, debuted in 2012 and is built at the Tesla Factory in California. In Q1 2013, Tesla released
its stock profits for the first time from its NASDAQ ticker symbol.[11][12] Global sales for the
Model S passed the 100,000 units milestone in December 2015, three and a half years after its
introduction,[13] and it was the world's best-selling plug-in vehicle that year.[14] As of June 2016,
the Model S ranked as the world's all-time second-best-selling plug-in after the Nissan Leaf.[15]
The car was then followed by the Model X, a crossover SUV. Tesla's next vehicle is the Model
3,[16] which was unveiled in March 2016 and is slated for release in 2017 with a price at
US$35,000 before any government incentives.[17][18]

As of September 2016, Tesla Motors has sold almost 164,000 electric cars worldwide since
delivery of its first Tesla Roadster in 2008, making the electric carmaker the second largest
global plug-in car manufacturer after the Renault-Nissan Alliance.[19] Musk, the CEO, has said
that he envisions Tesla Motors as an independent automaker,[20] aimed at eventually offering
electric cars at prices affordable to the average consumer.[21][22]

Tesla has installed a network of high-powered Superchargers across North America, Europe and
Asia for Tesla cars.[23] The company also operates a Destination Charging program, under which
shops, restaurants and other venues are offered fast chargers for their customers.[24] Tesla builds
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the Gigafactory 1 near Reno, Nevada where Panasonic builds 21-70 cells for Tesla batteries.
Tesla also manufactures the Tesla Powerwall and Powerpack batteries for home and industry.

Works Cited

2400 words – Grammarly – Plagiarism – Citations

1. Tesla Motors Inc. U.S. Securities and Exchange Commission
2. Tesla
3. Vance, Ashlee (2015). Elon Musk: How the Billionaire CEO of SpaceX and Tesla is
Shaping our Future. London, UK: Virgin Books.
4. John Gamble Jr., Arthur Thompson, Margaret Peteraf, Essentials of Strategic
Management: The Quest for Competitive Advantage 5th Edition 2016. New York, NY:
McGraw-Hill Education.