CORE1099 - New Normal Leadership - Merna Moussa

SEL TOPICS FOR CORE CURRICULUM NEW NORMAL LEADERSHIP CORE 1099-05

FALL 2021

TABLE OF CONTENT

1. COURSE OUTLINE 2. REFLECTION PAPERS 3. READING PRESENTATIONS 4. PROJECT + PRESENTATION

COURSE OUTLINE

CORE 1099 – 05 Selected Topics for Core Curriculum: New Normal Leadership ● ● ● ●

Semester: Fall 2021 Time and days of class: UW 3:30 – 4:45 Credit hours: 3 credits Course format: F2F

Contact Information/Office Hours: ● Faculty Name: Dr. Dina Wafa ● Email address: Dwafa@aucegypt.edu ● Office hours: By appointment Communication Procedures: All material will be available on Blackboard.

Instruction is Face to Face in classroom Waleed CP 65 In the case that we are required to switch online then: We shall use blackboard tools and Zoom. Sessions will be delivered via Zoom Technology requirements: Students will need Internet access and a PC computer or a Macintosh with the latest version of a web browser. Students can access Blackboard and Zoom anywhere Internet access is available. There are some guidelines to follow that will make the learning experience much more productive. Below are some recommendations: • Firefox Web or Google Chrome browser are the browsers that work best with Blackboard • If wireless connectivity problems are encountered, it is best to switch to a hardwired connection • We will be using Zoom so please make sure to download it and test it before classes begin.

AUC Guidelines to using Zoom: Participate in an Online Class Via Zoom Your instructor may use Zoom to conduct a live lesson or a meeting online. In this case, you will need to have a microphone and webcam (built-in or connected to your computer) if the instructor requires audio and video participation.

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How to Join a Zoom Meeting

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Zoom Help Center

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Steps to Conduct and Record Group Presentations via Zoom CORE 1099-05 Fall 2021

Course Information Course Description: This course is current working with current events and material. It will discuss new normal leadership and the human capital post COVID-19 while observing global trends and various industries.

Course Learning Outcomes: Critical Thinking: Students will explore, connect and evaluate issues, ideas, artifacts and events before accepting or formulating conclusions or informed opinions Oral Communication: Students will engage effectively and constructively in discussions, and present information orally in a stimulating manner Written Communication: Students will develop and express their ideas in writing in a variety of formal and informal styles depending upon the purpose and audience, and try to express their inferences and opinions in ways that are cogent, persuasive, and appropriate to the context Critical Reading: Students will extract meaning, analyze, interpret and make connections through interaction with a variety of written texts and other media Teamwork: Students will collaborate and contribute effectively to team goals in various roles Information Literacy: Students will know when there is a need to search for information, and be able to identify, locate, evaluate, and effectively and responsibly use and share that information in terms of the issues at hand Ethics and Civic Engagement: Students will demonstrate an understanding of social and ethical issues; recognize and critically reflect on civic identity and responsibilities, and begin to engage with their communities Teaching Method: 1. Lectures.

2. Critical thinking and discussion and presentation of current up to date material, cases, and current events.

3. Critical analysis of material – written and oral 4. Team work project research and presentations Course Guidelines: 1. The extent to which you will learn in this class depends on your own initiative and your taking responsibility for your learning.

2. It is very important that you read assigned material before class, if any. Being properly prepared for class will maximize your benefit from the exercises and enhance your class participation grade.

3. Class participation and debate is required as it enhances your learning experience CORE 1099-05 Fall 2021

Course Material: All course material is current 2020 and 2021 publications that is easily accessible online.

A) Leadership 1. COVID-19 Reimagine the future: Leadership report https://thepalladiumgroup.com/covid19 2. WEF: Challenges and Opportunities http://www3.weforum.org/docs/WEF_Challenges_and_Opportunities_Post_COVID_ 19.pdf 3. Fiscal Policy Response (IMF) Fiscal Policies Database (imf.org) 4. OECD: Policy response http://www.oecd.org/coronavirus/policy-responses/building-resilience-to-the-covid19-pandemic-the-role-of-centres-of-government-883d2961/ 5. Deloitte: Transforming Government https://www2.deloitte.com/us/en/insights/economy/covid-19/transforminggovernment-post-covid-19.html

B) Human Capital and Talent Management 6. Virtual Teams Reimagining e-leadership for reconfigured virtual teams due to Covid-19 ScienceDirect 7. Attracting and Retaining the Right Talent https://www.mckinsey.com/business-functions/organization/our-insights/attractingand-retaining-the-right-talent 8. McKinsey & Co: To Emerge from the COVID-19 Crisis companies should start reskilling their workforces now https://www.mckinsey.com/business-functions/organization/our-insights/to-emergestronger-from-the-covid-19-crisis-companies-should-start-reskilling-their-workforcesnow# 9. Leadership during Crises and Gender

CORE 1099-05 Fall 2021

Leadership During Crisis: An Examination of Supervisory Leadership Behavior and Gender During COVID-19 - Connor J. Eichenauer, Ann Marie Ryan, Jo M. Alanis, 2021 (sagepub.com)

C) Innovation and Technology Driven Leadership 10. Technology 2025 peweresearch_2021_sep4u.pdf 11. Deloitte: Future of Work https://www2.deloitte.com/content/dam/Deloitte/cn/Documents/humancapital/deloitte-cn-hc-special-report-returning-to-work-in-the-future-of-work-en200527.pdf 12. Social media Emergence of social media as new normal during COVID-19 pandemic: a study on innovative complaint handling procedures in the context of banking industry | Emerald Insight

D) Observing Global Trends 13. Consumer trends post COVID-19 Full article: COVID-19 Generation: A Conceptual Framework of the Consumer Behavioral Shifts to Be Caused by the COVID-19 Pandemic (tandfonline.com) 14. Global Entrepreneurship Monitor (GEM) 2020/21 report GEM 2020/2021 Global Report (gemconsortium.org) 15. Industry Impact https://www.ilo.org/global/topics/coronavirus/sectoral/lang--en/index.htm 16. Business Trends https://www2.deloitte.com/content/dam/Deloitte/de/Documents/covid-19-inducedbusiness-trends-deloitte-whitepaper.pdf

Off-Campus library access: When you access one of our libraries' subscription databases from off-campus, you will be directed to a "proxy-screen" which asks you for a username/password to identify you as an AUC Community member. Once you enter your AUC username and password (details below) you will be directed to the database.

CORE 1099-05 Fall 2021

Course Requirements Workload Disclaimer: At AUC, course work is counted in credit hours. In general, a credit hour represents a one-hour class period that requires at least two hours of individual study each week for one semester. Thus, a course of three credit hours requires six hours of study outside of class.

Description of Each Component Of Course Grade: Individual Work: 1. 15 Reflection papers – 2% each à total 30% A one pager on each reading, with a total of 15 readings: - Summarizing findings main points listing at least five main points - Brief Critical analysis - 2 discussion questions To be submitted one day before each class latest 12 PM 2. Participation 20% In class discussion and debate: Each will contribute discussion questions per class Each will join in debates and critical thinking per class.

Above participation will be counted toward the grade. Students will have to earn these grades. Positive participation grades are earned through active constructive contribution to class Group work of 2: 3. Two Reading Presentations – 10% each à total 20% Each class a group of two students will present a reading and lead discussion Each student is supposed to enroll in two groups and submit two presentations Enrollment sheets will be posted online during first week of classes.

Group Work of 4: 4. Group Project and Presentation – 30% - Select your focus area with your professor. You may select to focus on a country, a non-profit, a public enterprise, or a business firm. The project will focus on leadership, leadership and the human capital, innovation and technology driven leadership, and global trends. The project is graded according to the following: •

Analyze the different sides of the topic you have chosen, and make sure you account for the various points of view including the cultural setting.

Research the economic implications, and various stakeholders relating to studies conducted and data analytics (5%)

CORE 1099-05 Fall 2021

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Purposeful primary data whether through interviews or questionnaires and analysis of data (5%)

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Provide an analysis utilizing all your research findings and a proposition of solutions with justification (5%)

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Show examples of best practice in the area you are researching and compare or relate to similar cases (5%)

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Prepare and present findings to class in a presentation You must stimulate discussion using various interactive methods You must all be ready for class discussion. Any team member who seems to be silent/ honorary will result in the team losing points. Submit a written report and a copy of your presentation the following day of your presentation (10%)

Take care not to plagiarize as this will result in an “F” grade for your project and/or the course. Make proper references to the sources of your information, and use quotes when copying the exact words of a source. Do not borrow excessively from a single source, as this is not proper research.

Late submittals lose 1 point for each day Summary of Requirements: Reflection papers Participation Reading Presentation I Reading Presentation II Group Project and presentation Total

30% 20% 10% 10% 30% 100%

Available Grades in the Course: The following grades are available in the course. If you have questions about your grades during the course, please set up a meeting with me. If you are concerned about earning a “good grade” in class, do not wait until the end of the semester, or after final grades are posted to talk with me.

Class Letter Score Grade

GPA

Description Excellent, Exceptional

100-94

A

4.0

93-90 89-87 86-83 82-80 79-77

AB+ B BC+

3.7 3.3 3.0 2.7 2.3

Very Good Good

CORE 1099-05 Fall 2021

76-73 72-70

C C-

2.0 1.7

69-67

D+

1.3

66-60 59-0

D F

1.0 0.0

Passing Conditionally Passing Failing

Explanation of Final Grades: I will be available after final grades are posted to explain, not negotiate, the final grade. I will be available either by email. Specific times and availability will be sent to all students via email after I post final grades.

Course Tentative Calendar Week Sep 5 - 8

Topics Introduction and Leadership 101

Sep 12 - 26 Leadership Sep 29

Human Capital 101

Oct 3 – 17

The Human Capital

Oct 24

Present Project Outline and Consultations

Oct 27

Innovation and Technology driven leadership; Global Trends 101

Oct 31 – Nov 7

Nov 10 - 21

Innovation and Technology driven leadership Global Trends

CORE 1099-05 Fall 2021

Group Nov 28 – Dec 12

Project Presentations

University, Department, and Course Policies The overriding principles that guide these policies are that we avoid any activity that detracts from the learning process for anyone in the class and that we show respect for the institution in which we meet. All members of the AUC community are entrusted with the responsibility to uphold and promote five fundamental values: Honesty, Trust, Respect, Fairness, and Responsibility. These core elements foster an atmosphere, inside and outside of the classroom, which serves as a foundation and guides the AUC community’s academic, professional, and personal growth.

As per the Student Conduct Policies, instructors have "full authority to take appropriate action with students enrolled in their classes, regarding discipline, to ensure that classroom behavior is conducive to a learning environment and that students conform to the university's codes of conduct within the context of the class. Any student who deviates from proper classroom conduct will be penalized by the professor or instructor. If a faculty member does not feel that his or her disciplinary procedures are a sufficient response to the student's misconduct, then the problem should be raised with the Student Conduct Unit for further investigation, and an official complaint against the student is filed."

The hope is that I do not have to use this authority, and instead that all students act in a professional and appropriate manner (and they usually do). But to ensure that, please read the following policies carefully.

Attendance, Absences, and Tardiness Students are highly encouraged to attend all classes, as regular class attendance can significantly help a student do better in the class. A student is not allowed to miss more than six classes without severe consequences, up to and including, failing the course.

There are many important additional guidelines related to this area. To read complete details and to get answers to questions like ● Who is responsible for keeping attendance? ● What happens if I miss a class? What happens if I exceed six absences? ● What is the policy on tardiness or missing part, but not all, of a class session? ● What happens if I have a medical excuse, family crisis, or extracurricular activity?

Visit this link or scan this QR code.

http://schools.aucegypt.edu/academics/rhet/FAQ/Pages/Attendance.aspx/FAQ

Academic Integrity In accordance with the AUC’s efforts to promote a culture of academic integrity on campus, our school, department, and this course strictly enforces the academic integrity principles found in

CORE 1099-05 Fall 2021

AUC’s Code of Academic Integrity. Instructors are trained to ensure students are doing their own work; additionally, students must also use Turnitin.com for all drafts of major assignments.

Violations of academic integrity can lead to serious consequences, including failing the course and having notes about violations added to your permanent transcript.

For further details about academic integrity and to get answers to questions such as ● How do I know what is legitimate borrowing from a source and what is plagiarism? ● How will the instructor know if I have copied my paper from the Internet, had the paper written by a professional writing service, or tried some other tricky thing? ● What are the consequences of violations of academic integrity? ● What is Turnitin.com and how do I use it?

Visit this link or scan this QR code.

http://schools.aucegypt.edu/academics/rhet/FAQ/Pages/Academic_Integrity.aspx

Timely Completion of Required Freshman Classes in the Core Curriculum AUC has a “Timely Completion Policy” that governs a number of Freshman Program and CORE courses, including RHET 1010, CORE 1010, and RHET 1020. According to this policy, students should complete their RHET 1010, CORE 1010, and RHET 1020 courses during their first two semesters at AUC. Students are not allowed to postpone these courses; they also have a limited number of attempts to pass them.

For further details about timely completion and to get answers to questions such as ● What is “Timely Completion?” How does that affect me taking RHET courses? ● What happens if I fail or drop my RHET course? Will I be in violation of the completion policy? ● Can I postpone a RHET course?

Visit this link or scan this QR code.

http://schools.aucegypt.edu/academics/rhet/FAQ/Pages/Timely_Completion.aspx

Special Needs, Concerns, or Additional Support We want all students to be treated in a fair and equitable manner, and to receive the necessary support for academic success. Students who have special needs or concerns about the class should talk to their instructors the first week of classes or as soon as possible. Students requesting accommodations from their instructors must first provide documentation from AUC’s Center for Student Well-being (CSW). Reasonable accommodations for students are made starting from the date the instructor receives the official documentation (accommodations are not applied retroactively). AUC complies with the American Disabilities Act of 1990 and Section 504 of the Federal Rehabilitation Act of 1973.

For further details about special needs, concerns or additional support and to get answers to questions such as: ● I have a documented special need. What should I do? ● I feel that I will need some additional support. What should I do?

CORE 1099-05 Fall 2021

● ●

I have a concern about the instructor or the course. What should I do?

What does the writing center offer? How can the writing center help me?

Visit this link or scan this QR code.

http://schools.aucegypt.edu/academics/rhet/FAQ/Pages/Special_Needs_Concerns_or_Additional_Support.aspx

Research in this Course Research is highly valued at AUC, and students are encouraged to participate in research during their time at AUC, however, research, both on-campus and off-campus, MUST comply with a number of important policies and regulations for security, legal, and ethical reasons. Students who plan to do ANY on-campus research involving people (surveys, interviews, etc.) or ANY off-campus research of any nature MUST receive approval PRIOR to starting their research. To begin this process a student should discuss their plans with their instructor as well as be familiar with the policies found at the link below.

For important information about the research process, ethical research, extracurricular research opportunities, and to get answers to questions like ● When I conduct a survey or an interview, can I collect data from subjects off-campus? ● Do I need any approvals if I collect data from subjects on-campus? ● What is the IRB and what is CAPMAS? ● What presentation or publication opportunities do I have?

Visit the following link or scan this QR code

http://schools.aucegypt.edu/academics/rhet/FAQ/Pages/Research.aspx

Scope of this Syllabus and Contingency Plans This syllabus includes all written content, graphic displays, as well as the content referenced in the links/QR codes included in this document. Any student who continues in the course is expected to understand and abide by all policies, guidelines and schedules mentioned therein. However, in the event of the suspension of normal university classes, the initial plan is to continue with the course as long as there is internet accessibility in Egypt, but this may require adjustment to policies, guidelines, and schedules. Thus, in the case of the suspension of classes, please check your email and course website for details about how the course will continue.

Netiquette Guidelines Communication is very important in this online course. In order to maintain a positive online environment for our class, we all need to follow the netiquette guidelines summarized below.

All students are expected to: 1.

2.

3.

4.

Show respect for the instructors and for other students in the class.

Express differences of opinion in a polite and rational way.

Maintain an environment of constructive criticism when commenting on the work of other students.

Stay on topic when involved in group discussions or other collaborative activities.

CORE 1099-05 Fall 2021

5.

Use sentence case in messages. Use of all uppercase in a message is the equivalent of shouting and is considered offensive.

6. Be careful when using acronyms. If you use an acronym it is best to spell out its meaning first, and then put the acronym in parentheses afterward, for example: Frequently Asked Questions (FAQs). After that you can use the acronym freely throughout your message.

7. Use good grammar and spelling, and avoid using text messaging shortcuts.

Good Luck!

CORE 1099-05 Fall 2021

REFLECTION PAPERS

Merna Moussa 900191237 CORE1099/05 Reflection – Inclusive Growth Beyond Covid 19 -

Covid 19 has had its pros and cons; however, some of the changes that came with it have become a silver lining which were changes for the better. As an example, hygiene has increased drastically.

Businesses will not be able to flourish if their consumers don’t have an income; if the buyers aren’t satisfied financially, they will not become consumers to luxuries.

More equitable societies have been put in role, many of the businesses have tried to lend a hand to the community & help them through this tough time.

Many of the businesses have realized that there is no better time for them to start to improve while also giving back to the community.

Businesses should start to view the pandemic as an opportunity rather than only a drawback – and start to plan inclusive growth opportunities

Critical Analysis I personally felt that the article was straight to the point and was very effective, as it stated the pros and the cons – and different solutions as to how to solve some of the problems.

Questions: - How would you compare Inclusive Growth after Covid 19 in developing & developed countries?

- Do you think changes imposed by Covid 19 to businesses will help them on the long run?

Merna Moussa 900191237 New Normal Leadership Dr Dina Wafa Reflection #2 Summary: - Even though it’s a crisis for the entire world, leaders all around must think of the opportunities that could come out of it.

- Economically speaking, the shutting down of the borders will make it more difficult for all countries to prosper or to even have adequate medical help.

- A financial crisis is arising all over the world which is one of the biggest challenges during Covid.

- During Covid lots of authorities lost their credibility – due to in time of need they weren’t able to deliver safety to the citizens.

- The most significant opportunities during Covid was the rise of home-grown businesses Critical Analysis: Personally, I feel like the article did a great job of describing and explaining the main challenges and opportunities apparent due to Covid 19.

Explaining it with visuals and examples made it easier to comprehend – while also taking lots of opinions and discussing them.

2 Questions: 1. Out of the major challenges, which do you think is the most significant?

2. How do you think one can take advantage of an opportunity during Covid 19 in a creative way?

Merna Moussa 900191237 Reflection on Reading #4 Building resilience to the Covid-19 pandemic: the role of centres of government - to maintain balance during a crisis political leadership is essential - innovative responses to a crisis help in the resilience and preserving of each’s well being - countries that faced the epidemic SARS were able to manage the covid crisis better than others who didn’t - many coordinators were appointed from outside the offices to help manage the crisis - normal protocols for managing a crisis have been found useless during the dealing with Covid Critical Analysis: For me, this article was very interesting to read as they explained the different ways in which governments dealt with the crisis of the Covid 19 Pandemic and how the different reactions were. The part where it was talking about how countries which encountered SARS were able to deal better with Covid was very interesting.

2 Questions: 1- How do you personally think governments should react to the Covid Crisis?

2- How do you think the country’s government could build trust between them and the citizens during such pandemic?

Merna Moussa 900191237 Reflection Reading #6 Summary: - Virtual teams are now viewed in a different perspective due to Covid 19.

- E-Leadership has become a new normal nowadays.

- Virtual Teams have allowed global employees to work together.

- Virtual teams can still have the same qualities as pre covid, however adding to it the new normal.

- Engagement in Virtual teams is less efficient.

Critical Analysis Virtual teams have emerged massively due to the Covid 19 outbreak, this came with its pros and cons, while also allowing new normal to settle in. Virtual teams have made it easier for employees to not have any judgement based off anything other than their work. It has also made global employees find better job opportunities. Personally, I feel that virtual teams allow less engagement and can allow people to dose off and lose focus.

2 Questions: 1- Do you think virtual teams would have emerged and expanded without the Covid 19 outbreak?

2- Which do you feel is more efficient, Virtual Teams or Face to Face teams?

Merna Moussa 900191237 Reflection Reading #7 Summary: - Finding the right talents and people who work hard and continuously is a major key to success.

- EVPS “employee value proposition” help attract the right type of employee.

- Technology has changed how people are hired, now people are hired by computers – which analyze all the pros and cons and hire.

- Software systems gather information about future possible employees from different sources to make sure they’re the right pick.

- Aspire, Assess, Architect, Act, Advance are the 5 steps to accomplish the right talents for a job.

Critical Analysis Finding the right talent for the job and hiring the correct employee is a very hard task. They need to be talented and high performers. I personally think that by good research a perfect match for a job can be found. I also feel like using Artificial intelligence a better result will be found.

2 Questions: 1- Do you think its better to hire people by person or by computer?

2- What is the most important aspect that an employee looks for?

Merna Moussa 900191237 Reflection Reading #9 Summary: - Employees desire communality in Leadership.

- Women competence was related more to their communality behavior.

- Everyone in an organization plays a massive role in handling a crisis not only leaders.

- Leader gender assumptions are mainly biased and maybe incorrect.

- Leaders likeability were mostly indicated by their communality.

Critical Analysis I personally think that Gender does not play a role in leadership, however after reading the article I started to understand the difference in communality between genders. However, each gender also differs from one person to another, so I think it is more based on the personality and leadership traits.

2 Questions: 1- Which do you think is the most important role of a leader during a crisis?

2- Do you think gender plays a role in Leadership?

Merna Moussa 900191237 Reflection Reading #11 Returning to Work in the Future of Work Summary: - After Covid people need to keep in mind what the employee’s needs are and understand their mindset after the crisis.

- Covid formed a path so that people can stop treating humans and machines in parallel paths.

- Most companies are trying to get the best out of Covid and finding opportunity to move forward.

- Covid paved the way into learning more and thinking more about wellbeing of yourself and others around you.

- To make the best out of new possibilities companies need to make sure to understand where everything and everyone stands in the company.

Critical Analysis The article is very informative, and was very well organized in ideas one after the other, which I think leads the reader into the right direction. Which portrayed the different shifts and solutions which came after Covid.

2 Questions: 1- What skill do you think was weak for people when they returned to work?

2- What positive outcome did we get out of the major shifts after Covid?

Merna Moussa 900191237 Reflection Reading #13 Summary: - buying patterns, consumer traits, psychographic behavior have all been affected by the Covid19 Pandemic - Covid 19 has built a stock-up mentality in most citizens minds – which has led to the new normal of online shopping / grocery shopping - Most production has become inside borders.

- Another New normal which has occurred is the “Work from Home” - Virtual Reality has taken an upleap due to Covid-19 and is trying to keep people connected Critical Analysis Personally, what I liked about this article is that it compared the reactions to other pandemics in different times, which should the different potentials – and how different generations reacted. I also felt that the article could have gone more in depth about new ideas into how future reactions would be like.

2 Questions: 1- What other reactions can you think of that happened due to covid19?

2- Which of these reactions do you think we’ll maintain even if covid19 ends and which will we change again?

Merna Moussa 900191237 Reflection Reading #14 Summary: - Entrepreneurship is the act of starting & running a new business - The Conceptual framework includes social, cultural, political & economic context within it - Outcomes through the framework may be socio-economic development, new jobs, new value added - A large proportion of people started new businesses after the pandemic – while also a large proportion have ended businesses due to the pandemic.

- Informal investment is a minority activity in most economies Critical Analysis I felt that the article was very detailed and was very informative, what I liked most was how it gave examples after each concept or idea, to help us better understand the idea.

Entrepreneurship is a very wide and broad term, which has a lot of aspects leading to it and to maintain it.

2 Questions: 1- Why do you think some people chose to end their business during the pandemic instead of trying to handle the losses and trying to find a gain and a way through the new normal?

2- What do you think is the biggest obstacle one may face while starting a new business?

Merna Moussa 900191237 Reflection Reading #15 Summary: - Covid 19 hit everyone differently – meaning that each sector or industry were effected in different ways.

- The health sector & industry were affected most – both positively & negatively. Positively as in the sense of more products are being sold and people started to care about health.

- Negative aspects for the health sector are how they are exposed to the virus & still comply with their job – while noting all the mental trauma which the death of patients may cause to them.

- Ports were affected as in the shortage of workers, lower volumes were allowed.

- Road & transport were affected heavily as to stop the virus from spreading they had to cut down the number of passengers within each.

Critical Analysis What I liked most about this article was that it was very organized, and was easy to follow and understand. I just felt like more real-life examples could have been shared with each sector to better help us understand.

2 Questions: 1- Which sector do you think was impacted most due to Covid, both negatively & positively?

2- How do you think sectors can plan better for other crisis?

Merna Moussa 900191237 Reflection Reading #16 Summary: - We don’t need to only focus on the negative effects of Covid, however, we can also look at the growth that can come from it.

- New Mega Trends rose during that time, which impact the consumers, markets and technologies.

- Only working offline is a high risk in any future crisis – everyone needs to back up everything to a quick switch to being online.

- During Covid it was shown that the 3 main steps are – Respond, Recover & Thrive; which are the main steps taken to deal with & overcome the crisis.

- Covid made us realise that we need to keep in mind the different trends and their types and incorporate them within our businesses.

Critical Analysis The article is very informative – and what I liked most about it was how it also included case studies to show how the differences in response were to the Covid crisis. I showed the differences in trends & how to deal with each, and also ways in which we can overcome the crisis.

2 Questions: 1- Why do you think some companies remained offline even after Covid?

2- What is the main response needed from companies during a crisis?

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DO O HA E AN E ION

Transforming Government Post COVID-19 Merna Abdelbadie - 900203731 Dana Alaidy- 900211517 Merna Moussa - 900191237

The old normal won't work anymore Governments: Find different methods of service delivery Evolve new functions: disease monitoring and regulation of social distancing.

Create new operating model based on the uncertain environment that we are living in.

What are orthodoxies?

A short introduction to orthodoxies NEITHER GOOD NOR BAD Represent the best practices of previous generations

FAILURE TO CHALLENGE THEM CAN LEAD TO LACK OF INNOVATION

DISRUPTIONS ARE WHAT HELP US RECONSIDER THE ORTHODIXIES

Ex: walk-in offices

EX: YOU WOULD VISIT A MOVIE RENTAL STORE IF YOU NEEDED TO RENT A DVD

Workforce and workplace • COVID-19 has disrupted many areas of government.

• However, COVID-19 presented an opportunity for the governments to transition to the future of work.

Orthodoxy 1: “Line-of-sight” supervision is essential

• Before the Pandemic: Employees not in the field had to work onsite: In 2019, about 42% of the US federal workforce were deemed eligible for telework.

• Flipping the orthodoxy: Telecommuting becomes the norm; “inoffice” work and meetings, the exception.

Determining who goes back to the office and who doesn’t

• How can we decide who should return to the physical workplace, in view of external factors, specific job requirements, and worker preferences?

• How can we adjust technology, policies, skills, duties, performance management, and collaborative tools to launch a blended workforce?

Orthodoxy 2: Health and safety aren’t key issues for most public work

• Before the Pandemic: For most nonhazardous roles, health and safety were not the central consideration.

• Flipping the orthodoxy: Health and safety are central to a positive employee experience.

Orthodoxy 3: Recruiting and hiring employees is a lengthy, inperson process

• Before the Pandemic: Traditional government employment requires in-person interviews with a large number of people, as well as subjective assessments of experience, character, and skill.

• Flipping the orthodoxy: Virtual recruiting can find the right talent quickly.

Governments have given agencies additional freedom or standard employment regulations in order to speed up the recruiting process.

Orthodoxy 4: Intelligence employees must work in a secured facility

• Before the Pandemic: Some workforce that must access classified information, the workspace is restricted and other high-security locations.

The physical isolation of intelligence workers can have some side effects.

• Flipping the orthodoxy:

Back-office and even some intelligence work are performed remotely.( you can do it from home)

Service Delivery • COVID-19 is forcing governments to provide public services differently.

• Office closures, social distancing rules, and health and safety concerns are forcing governments to abandon many deeprooted orthodoxies about service delivery.

Orthodoxy 5: A personalized customer experience requires a “human touch”

• Before the Pandemic: The ability to provide a “human touch” through a helping hand, a smiling face, and nonverbal gestures often is considered to be part of a great customer experience.

• Flipping the orthodoxy: Digital technology provides a more accessible and personalized service.

Digital services can be tailored to address the needs of the citizens.

Orthodoxy 6: Most government services must be delivered in peson

• Before the Pandemic: Historically, certain government services have always been conducted in person

• Flipping the orthodoxy: Very few services require in-person

delivery.

As we mentioned before in orthodoxy 5, The pandemic is forcing governments to shift an array of inperson services online

Orthodoxy 7: A physical presence is needed to authenticate identity

• Before the Pandemic: For decades, governments have relied on systems to identify and manage people, relying heavily on physical presence for verification

• Flipping the orthodoxy: Digital ID is the new passport.

Many governments have found that

“digital citizenship” programs are beneficial, solving the “last mile” problem and delivering services effectively https://youtu.be/446kruI5_yc

How Flipping Orthodoxies lead to Innovation? https://www.instagram.com/p/CUK4kr2MRGS/?utm_mediu m=copy_link

Orthodoxy 8: Governments manage demand for their services reactively

• Before the Pandemic: A citizen who doesn’t understand the data entry process, enters through the wrong pathway in the system, or frequently calls and emails to check on his or her status, can end up generating a multitude of additional tasks for workers.

• Flipping the orthodoxy: Governments anticipate citizen needs.

PACE The new COVID-19 reality: Governments need to act quickly and adjust rapidly to feedback

Orthodoxy 9: Regulation is a lengthy, inflexible process

• Before the Pandemic: Regulation is a lengthy, inflexible process

• Flipping the orthodoxy: Regulation is agile and adaptive.

Is remote wok here to stay?

Orthodoxy 10: Procurement processes are rigid and timeconsuming

• Before the Pandemic: Government procurement processes are careful and slow, involving multiple layers of screening and approvals from various parties.

• Flipping the orthodoxy: Procurement processes are flexible, fast, and efficient.

BEYOND NORMAL The new COVID-19 reality: Governments need to act quickly and adjust rapidly to feedback

Do you have any questions?

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What is needed from Tesla to lead the electric automotive industry into becoming the New Normal?

Merna Moussa Mirna Soliman Ammar Megahed Seif Ahmed Core 1099-05: New Normal Leadership Dr Dina Wafa

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

2

Background Mission Statement Going Public Stakeholders

3 3 4 4

Elon Musk Leadership Transformational leadership in action: Elon Musk as a visionary leader: A Leader who is capable of generating and sustaining trust: Capitalizing on trends and challenging orthodoxies: Economic Implications Understanding Needs Cultural Setting

5 5 6 7 8 10 15 16

Innovation in Tesla Self Driving Cars Fast Charging Sustainable batteries Shift from gasoline to electric power

17 17 19 20

Challenges High Stock Valuation Bitcoin Exposure Material Supply Shortage China Exposure New competition from colonizers

22 22 23 23 25 26

Research & Results

27

References

34

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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Background Tesla, an American electric vehicle, clean energy company, was founded in 2003 after a lot of work which was done by a group of engineers from Silicon Valley to bring it to life. Executed in July 2003 was Tesla Motors Inc. which was with the efforts of CEO Martin Eberhard and CFO Marc Tarpenning. Martin Eberhard is a Computer Engineering BS graduate, and has an MS in Electrical Engineering, serving as the original chairman and CEO up until 2007. Marc Tarpenning having a BA in Computer Science. Later on, Ian Wright joined, being Tesla’s third employee, who left 1 year after its founding to pursue Wrightspeed. Elon Musk was the most supportive funder and later became the chairman of the board of directors and largest shareholder at Tesla. JB Straubel also joined later in May 2004 as the CTO. A conflict happened as to who should be called the founder of Tesla – however was later settled to make all five of them co-founders of the well-known electric cars company Tesla.

Mission Statement The mission Tesla is trying to portray is that driving electric cars does not necessarily mean sacrificing luxury; however, they can be “better, quicker, and more fun to drive than gasoline cars.” Tesla did not seem to think cars were the end so later built scalable clean energy generation and storage products. “Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.” (About Tesla) – this makes Tesla one of the leading companies in making electric cars and related technologies.

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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Going Public In 2010, Elon Musk decided to take Tesla public; while giving 13,300,000 shares to the public – for the price of $17 per share. This was before they had produced any cars – which as Elon Musk says showed how the public believed in Tesla’s mission to move forward with sustainable energy.

Stakeholders Stakeholders are people who have an interest in the company’s well-being, while also having the power to affect or be affected by how the company is doing in operations and performance.

Tesla’s main stakeholders are investors, directors, employees, suppliers, shareholders, partners, the government, financial institutes and the public. This allows them to receive financial reports about Tesla – while also having the pleasure of being informed about the company’s visions and strategies. The company publishes its annual report on its website, disclosing key financial data, the company’s strengths and values, potential risk factors, its products, services, network and infrastructures, and other important information (Tesla Motors, Inc., 2016) Tesla has been very transparent with its stakeholders, as it publishes all the data on their website, to portray a clear vision. While having a Webcast, downloadable shareholder deck, quarterly disclosure and other filings available

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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Elon Musk Leadership From the various leadership styles, Elon Musk’s leadership style is best defined as “transformational” . According to professor Bennis and Nannus, authors of Leaders: Strategies for Taking Charge,“transformational leadership is a management philosophy that encourages and inspires employees to innovate and develop new ways to grow and improve the path to a company's future success.” (Tannenbaum , 2013) In this part of the paper, we will analyze the skills and characteristics that made Musk develop his company and drive it forward.

Transformational leadership in action: Elon Musk is known to be demanding, uncompromising, and has high expectations from his employees; however, he has even higher expectations from himself.

According to the Harvard Business Review, serious leaders always lead by example and their actions have continuous impact on their company and employees. The review explains that leaders must be committed, work hard consistently, and adhere to the company’s core values before asking anyone else to commit and work hard. (Schrage , 2017) Musk’s leadership style reflects Bennis and Nannus’s behaviours and strategies used by transformational leaders. According to professors Nannus and Bennis, transformational leaders are visionary, social architects, capable of generating and sustaining trust, and have positive

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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self-regard which means, able to identify their own strengths and weaknesses then encourage everyone else to do the same.

Elon Musk as a visionary leader: Elon Musk is a great example of a visionary leader. Musk does not follow trends blindly; but usually is visionary about his goals, and sets the trends for the people to follow them.

At the same time, Elon Musk is inspiring as he inspires people with his vision, his dedication and his goals. According to the Harvard Business Review, serious leaders always lead by example and their actions have continuous impact on their company and employees.

The review explains that leaders must be committed, work hard consistently, and adhere to the company’s core values before asking anyone else to do so. (Schrage , 2017) Elon Musk leads by example because as mentioned before, he is demanding, uncompromising, and has high expectations from his employees; however, he has even higher expectations from himself.

Musk also inspires his employees with his contagious enthusiasm and energy for work, which results in his employees sharing the same commitment and passion for work and pursuing the big ideas and dreams that Musk has for his company.

According to Dolly Singh, the former HR lead at SpaceX, "The thing that makes Elon Musk is his ability to inspire people and make them believe in his vision,” (Marlee, 2019)

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Social Architect: A social architect is someone who seeks to modify human behaviour. Elon Musk is a social architect as he creates innovations that set new trends for people and consequently, creates new habits and behaviours. Eloon Musk seeks to modify behaviours for both his employees and the consumers. The transformational leader inspires and intellectually stimulates his employees to develop their capabilities, skills and innovative skills rather than just emphasizing on the rnormal and conventional practices like conventional leaders. When it comes to the consumers, Musk has a spirit and a vision for innovation that are strong enough to mobilize people to accept a new concept of vehicles and a new philosophy, (Northouse, 2021) A Leader who is capable of generating and sustaining trust: Even though Elon Musk is known to be “erratic”, which according to the dictionary means moving in a way or behaving in a pattern that’s not regular, and unpredictable; he continuously earns the respect of his followers even in uncertain times. (Northouse, 2021) Musk is known to be unpredictable but always reliable and trustworthy as he supports his teams and company during the darkest times. During the various financial crises, Musk continues to fund the company and the employees out of his own pockets over $100 million to assure the normal continuity of Tesla’s goals (Jacoby, 2011). Musk’s transformational leadership skills and strategies were most apparent during the darkest of times. According to a study conducted, transformational leadership is most effective in times of crisis. One of the strengths of the

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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transformational leadership style is the leader’s ability to identify his own strengths, weaknesses.

Consequently, leaders will be able to better develop their skills to satisfy people's needs, values, and morals which will help them gain people’s trust.

Shift from Invention to Innovation Tesla was among the first companies to reshape the electric cars industry in the world. Despite having huge competitors like Chevrolet and Ford, Tesla Motors has succeeded dominating the market especially, with the production of its S model flagship car in 2013. ( Matulka, 2014) In addition to its simple look and aesthetic body, Tesla Motors has been innovating its cars to accommodate them to the consumers demands thus, increasing in popularity, changing trends, and challenging the orthodoxies. (Smith , 2019)

Capitalizing on trends and challenging orthodoxies: Even though Elon Musk is a successful innovator and creates the newest trends, he is also very good at capitalizing on existing trends. In other words, Musk comprehended the rise of environmental awareness and took advantage of it to change the automotive industry and landscape. With the growing concern of climate change and sustainability, consumers have become more aware of the global warming issue and started considering the impact of their everyday activities on the environment, thus opting for more sustainable and environmentally friendly transportation options. (Smith , 2019) Pollution and health problems resulting from car emissions is one of the main factors behind flipping the orthodoxy and people changing from fuel cars to electrical ones. According to the United States Environmental Protection Agency

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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(EPA) , “motor vehicles collectively cause 75% of carbon monoxide pollution in the U.S. The Environmental Defense Fund (EDF) estimates that on-road vehicles cause one-third of the air pollution that produces smog in the U.S., and transportation causes 27% of greenhouse gas emissions.” (Smith , 2019) At the same time, batteries leach toxic chemicals out in the environment when disposed of improperly, which contaminates water, animals and affects wildlife. On the other hand, Tesla cars are designed to be more environmentally friendly as their batteries generate less the emissions gasoline cars do thus, are less harmful to the environment.

For example, according to Tesla’s 2019 impact report, the lifecycle emissions of Tesla Model 3 emits 60% less CO2 emissions than fuel cars. (Pressman, 2021) Additionally, Tesla batteries aimed at eliminating the cobalt which is a toxic and unstable chemical. “Not only can 90% of the battery be recycled, but even after its usable life in a Tesla, the battery can be used for energy storage for another 20 years or so. In addition, batteries can be refurbished by replacing bad cells or removing good cells to use in another battery” (Hammon , 2021) When it comes to its lifespan and reducing waste, Tesla batteries and components last longer and need to be replaced less frequently than combustion engine cars. Consequently, Tesla vehicles are reducing the impact of manufacturing, material sources and scrap waste on the environment. For example, according to April 2018 statistics, Tesla batteries are still operating at 90% of their original capacity even after 160.000 miles of use. (Pressman, 2021)

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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With its unstoppable innovation, Tesla not only capitalizes on trends and follows them but also, creates and sets the newest trends for the people to follow. That’s why Tesla has been growing fast, increasing in popularity, and challenging orthodoxies as more people are opting for electric cars. According to statistics, Tesla’s sales grew by 16% in the three quarters of 2021 compared to the full year 2020; making Tesla the fastest growing brand worldwide with a growth rate of over 121% in 2021. (Carlier, 2021) From the information mentioned above, Tesla is capitalizing on trends and designs its cars to accommodate those trends and at the same time, satisfy people’s needs. Consequently, Tesla is growing fast, flipping the long existing orthodoxies.

Economic Implications Tesla gaining popularity and people’s trust has been challenging trends, flipping orthodoxies and this has had a lot of economic implications for both Tesla and its competitors.

First of all, while all the companies were struggling during the pandemic, Tesla was one of the very few companies whose sales fell modestly during that period but later, the company thrived.

And that’s because Tesla produces its own chips and products, so it wasn’t heavily relying on other parties to manufacture and deliver its products.

The company hoped at the beginning of 2020 to deliver more than 500,000 vehicles that year and claimed that “it’s possible but it will be more difficult due to the pandemic” (2020). According to

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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the graph below (graph 1), we can see that Tesla has achieved its goal and delivered 500,000 vehicles as promised before, and that’s one of the reasons why people trust Tesla .

(Graph 1) (Dean , 2021)

At the same time, we can see on graph 2 that Tesla’s annual revenue for 2020 was higher than the years before the pandemic which was surprising especially with the pandemic and lockdown,

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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and unlike other companies that were struggling and whose revenues have decreased tremendously during the pandemic. (Dean , 2021)

(Graph 2) While Tesla’s productions and revenues were increasing, spending and investment on coal and coal plants construction fell by 84% during the last 6 years.(Pressman, 2021) Coal is one of the main elements that generate fuel used for cars and electricity. This shows that the energy market

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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is changing and orthodoxies are being flipped as people started to have awareness towards the planet and are becoming eager to switch to renewable and more sustainable resources.

Additionally, the US president Biden’s decision to eliminate CO2 emissions by 2050 will be the game changer and will definitely boost the popularity and the production of electric cars as the white house itself started opting for electric vehicles; and this will help electric cars and Tesla to become the new normal in a couple of years.(Hawkins , 2021) From the information mentioned, we can understand why Tesla’s sales presented on the graph below (graph 3) are increasing worldwide, and even surpassing such giant car companies like Volkswagen, BMW and Mercedes. (Dean , 2021)

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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(Graph 3)

According to statistics, Tesla’s sales grew by 16% in the three quarters of 2021 compared to the full year 2020; making Tesla the fastest growing brand worldwide. (Dean , 2021) To conclude this part, Tesla has been capitalizing on trends and innovating their cars to accommodate those trends, satisfy people’s needs consequently, Tesla is growing fast, surpassing giant car companies and flipping the long existing orthodoxies.

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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Leveraging Resources

By Leveraging Resources we mean how can we transform what we already have, such as assets and shown skills - into different ways as to which we can put them together and have a different and more efficient result. This has been conveyed through Tesla widely; as Tesla is lucky enough to have one of their co-founder as Elon Musk founded or ran many different companies in different fields such as Paypal, SpaceX, and many more; while also being a large stakeholder at several others.

This leads Tesla into having insider knowledge in many different fields such as; solar energy, product design, global manufacturing, electric vehicles, battery products.

Tesla has proven to put this to work through how they used aluminum for their Model S - which was implemented due to the fact that they found out that it was way lighter than steel and way stronger. This was by how they leveraged from their assets SpaceX which uses an aluminum body for their rocket.

This was a very successful way of combining knowledge from different resources.

Understanding Needs

By Understanding Needs whats meant is understanding what the market needs and what Tesla needs as a company. As a company Tesla is not looking for senior executives to work for them.

However, their theory and way of working is - to hire young potentials; as they feel like the

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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automotive field is looking for the future - and they feel like the future is in the youngsters. To motivate their workers’ they maintain a promotion structure - it does not work like normal companies where you get promoted depending on your sales for example. However, at Tesla you get promoted if you solve a problem for a customer, or improve a product.

This allows them to fulfill their needs and the employees needs while also maintaining their customers needs.

Cultural Setting While Tesla is targeting the high end customers - their savings in energy can help people in third world countries and allow them electricity. While also launching Tesla powerwall which is a rechargeable battery station can allow people electricity lines as well.

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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Innovation in Tesla Self Driving Cars Self Driving Cars or known as Autopilot is an advanced driver assistance system that enhances safety and convenience behind the wheel without any human involvemnet. As a driver when using autopilot properly, you can reduce your overall workload. The technology behind Autopilot is that it uses 8 external cameras, 12 ultrasonic sensors and a powerful onboard computer to provide feedback for the car to maneuver its way on the road and provides an additional layer of safety to guide you on your journey. Every Tesla comes with a standard autopilot feature. For owners who purchased their cars without Autopilot, can purchase an Autopilot package, depending on when your car was built and its model. Autopilot, Enhanced Autopilot and Full Self-Driving Capability reqiures a fully concentrated and alerted driver, who has his or her hand on the wheel all the time and is prepared to take over at any moment on the road. There are multiple features that support Autopilot and enhances the experience:

·

Traffic-Aware Cruise Control: It matches the speed of your car to that of the surrounding

traffic · lane

Autosteer: Uses traffic-aware cruise control to assist in steering within a clearly marked

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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·

Auto Lane Change: Is used to move to an adjacent lane on the motorway when its switched

on by the driver ·

Autopark: With a single touch, Autopark can help in parallel or perpendicular park your car

·

Summon: Using the mobile app, Summon can help your car to move in and out of a tight

spaces ·

Smart Summon: Your car will navigate more complex environments and parking spaces,

manoeuvring around objects as necessary to come find you in a car park within your direct vicinity.

Because Autopile requires an attentive driver, active safety features come standard on all Tesla vehicles for extra protection at all times. These features are made possible by our Autopilot hardware and software system and include:

·

Automatic Emergency Braking: Detects cars or obstacles that the car may impact and

applies the brakes accordingly ·

Forward Collision Warning: Warns of impending collisions with slower moving or

stationary cars ·

Side Collision Warning: Warns of potential collisions with obstacles alongside the car

What is Needed from Tesla to lead the Electric Automotive Industry into Becoming the New Normal?

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·

Obstacle Aware Acceleration: Reduces acceleration when an obstacle is detected in front

of your car while driving at low speeds · ·

Blind Spot Monitoring: Warns when a car or obstacle is detected when changing lanes Lane Departure Avoidance: Applies corrective steering to keep your car in the intended

lane ·

Emergency Lane Departure Avoidance: Steers your car back into the driving lane when it

detects that your car is departing its lane and there could be a collision

Fast Charging Sustainable batteries A Tesla Supercharger is an electric car charger that offers incredibly fast charging speeds that could recharge an electric car battery in under an hour. There are three different kinds of Supercharging stations out the V1, V2, and V3 Superchargers. V3 Superchargers offer up to 250 kW charging speeds and the latest and most advanced Superchargers. Meanwhile, the V2 and V1 Superchargers are limited to slower 150 kW speeds instead. However, there’s no major difference between the different kinds of superchargers beyond the maximum charging speed available. The Supercharger network, which is owned and operated by Tesla, is the collective name for all the Superchargers across the world, whereas other charging networks are operated by third parties. The network is pretty expansive, with more than 2,500 locations across the world 1,000 of which are in North America alone. Each location is made up of multiple charging

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points, meaning multiple cars can be plugged in at the same time. Currently around the planet, there are more than 23,000 individual Tesla Supercharging points. To find a Supercharger location, Tesla has a map of every single Supercharger location on its website to make it easy for the owner to find a station. The driver can use both the Tesla app and the in-car navigation system to track down your nearest Supercharger locations. The goal of the Supercharger network is to enable freedom of travel for Tesla owners at a fraction of the cost of gasoline. Reduce your cost per mile and never pay for gas again.

Shift from gasoline to electric power The shift from gasoline to electric power was possible thanks to Tesla’s technology and inventions that created a huge market for electric vehicles. Most of the world uses internal combustion engine (ICE) for transportation to fulfill their daily needs. However, people do not realize the harmful effects of ICE on the environment and how gasoline is a toxic and highly flammable liquid. The vapors given off when gasoline evaporates and the substances produced when gasoline is burned (carbon monoxide, nitrogen oxides, particulate matter, and unburned hydrocarbons) contribute to air pollution. Burning gasoline also produces carbon dioxide a greenhouse gas that is the main driver of climate change. Gasoline, and the crude oil it comes from, cause environmental harms all along its life cycle, from oil exploration and extraction, to moving the oil which can spill from the pipelines, to refining it into gasoline, to storing it in underground tanks at gas stations, to burning it in our cars. There are multiple potential

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alternatives to the traditional petroleum-dependent internal combustion engine (ICE), including biofuels, fuel cells, and battery electric vehicles. The best solution among these alternative technologies was the battery powered electric vehicle based on cost analysis, mechanical efficiency, emissions reduction and overall capability. The major benefit of electric vehicles is the contribution that they can make towards improving air quality in towns and cities. Pure electric cars does not have a tailpipe and produce no carbon dioxide emissions when driving.

This reduces air pollution considerably. According to Tesla annual report for 2020, Tesla customers helped avoid 5 million metric tonnes of CO2-equivalent emissions thanks to a range of factors, including the significantly lower lifecycle emissions of the company’s EVs compared to their internal combustion engine (ICE) rivals. Tesla’s vision is to create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles, while its mission is to accelerate the world’s transition to sustainable energy. To create a sustainable energy ecosystem, Tesla is focusing on reducing vehicle’s lifecycle emissions by recycling all their Tesla batteries and 92% of the raw materials will be reused. Moreover, Tesla also manufactures a unique set of energy solutions, Powerwall, Powerpacks and Solar Roof, enabling homeowners, businesses, and utilities to manage renewable energy generation, storage, and consumption.

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Challenges High Stock Valuation The stock market is based on expectations, so people buy and sell stocks in anticipation of good or bad news. Therefore much anticipation for good news caused an overprice in the Tesla stock.

Tesla’s share price has benefited from numerous positive external forces that have combined to improve the company’s fundamental prospects while also managing to worsen the prospects for its investors. With Wall Street able to recognize the endless potential of the company, this has resulted in a very high market evaluation. This makes it nearly impossible for the electric vehicle company to grow while also providing reasonable return prospects that would satisfy investors.

However, the company has recently benefited a tremendous amount from various forces that have caused the improvement of their cash position and some of their concerns to diminish significantly, which will help make Elon’s promises come closer to reality. However, with negligible earnings and no prospects of any shareholder returns for years to come, its valuation has become absurdly overvalued. TipRanks, for instance, estimates Tesla’s 12-month-trailing return on equity to be a modest 12.41%, while estimates put Tesla’s intrinsic value at $160.11, well below its current price level.

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Bitcoin Exposure Tesla’s CEO, Elon Musk, is a big admirer of Cryptocurrency, especially Bitcoin. This has caused him to invest around $1.5 billion from the company’s cash in the digital currency. This has turned out to be very profitable, with the investment being worth $2.48 billion by March 2021.

Although the investment has become profitable in terms of cash rules, it does not have the same effect on accounting rules. The coin is considered an indefinite-lived intangible asset which means that Tesla should log any decreases of the value. However, Tesla cannot log any increases before selling the stock they own of the Cryptocurrency. Tesla reported bitcoin-related impairments of $23 million in Q2 as the price of digital currency dived. If it had increased the $23 million, this would not have been included in the report as the cash is tied into the currency.

Material Supply Shortage For a while now, there has been word that the automotive industry has been facing a lack of semiconductors and microcontroller chips. These chips are heavily necessary for this particular industry as they are essential in the ability to control and operate the “brain” of the vehicle and operations in things from the fuel injection system in combustion engine cars to the infotainment systems in electric cars. The reason for that is that recently, there has been a significant shortage of these chips as large automotive manufacturers have been anticipating their importance and therefore stocking up the product to produce and operate comfortably in the short term future.

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This has been caused due to traction between the United States and China, causing an industrial dilemma. China is a worldwide powerhouse in semiconductor chip production, and companies have been overspending on the stock of these chips to reduce their level of liability and ability to survive and compete in such a tense industry.

Many automakers have suffered from being unable to keep up with the market’s low availability in supply and high demand for semiconductors or micro-controllers, therefore leading to unfortunate failure and shut down of the company at hand. They were unable to keep up with production rates.

A standard comparison was made by Musk stating that this issue can be compared to one most people can relate to; the shortage of toilet paper during the start of the Covid-19 pandemic and global shut down. Consumers overstocked due to the fear of being quarantined for longer than anticipated. This eventually led to retailers putting limits on quantities that could be sold per family to reduce the risk of running out, leading to harsh downfalls in sales and popularity of these retailers.

Disregarding the short-term issues this dilemma has caused Tesla and many other vehicle companies worldwide, Musk believes it will not affect his company in the long run. “It is obviously not a long-term issue,” the CEO added.

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China Exposure Due to China’s pollution problem, Tesla, being the number one electric vehicle manufacturer, is a trendy car in the world’s most populated country. This is why China alone is responsible for around 25% of Tesla’s revenue. However, such a significant exposure on the Chinese market has its challenges, such as competition from Chinese colonizers like Nio, Li Automotive, and Xpeng, all of which have strong government backing.

Another problem with Tesla’s Chinese exposure is the deteriorating trade relations between the U.S and China, with the two superpowers posing hundreds of billions of dollars of tariffs on each other’s goods. In the trade war, the two countries have targeted high tariffs on mainly key high-tech sectors, including semiconductors and communications. With Tesla being a high technology-focused company, this may cause the Chinese government to consider Tesla a soft target. To add to this, trade relations are not the only problem between the U.S and China. There are severe political issues between them, with each shutting down embassies and consulates of the other in their borders. This would harm Tesla as it may cause an anti-American sentiment, which would turn the Chinese government and its consumers away from American brands like Tesla.

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New competition from colonizers When Tesla was first launched, it had minimal competition, as traditional automakers were yet to step into the electric vehicle industry. However, Tesla now has increasing competition with General Motors, Ford, Volkswagen, and Toyota, expanding the electric market. These so-called “beginners” of the EV market have some advantages over Tesla even before entering the market.

These include manufacturing experience, expertise, and distribution networks, as these are crossovers they would have gained while producing cars fueled by gasoline. Kia Motors called out Tesla by name at the show, announcing that its upcoming electric crossover EV6 beat Tesla’s previous record for the shortest charging time, driving across the United States by more than five hours.

Competition is also coming in the electric pickup truck sector from Ford and General Motors.

They announced that they will be releasing electric pickup trucks to challenge Tesla’s new Cybertruck, which is expected to release in 2022.

However, the entry of new competitors into the EV market is not just a negative to Tesla. This is because it will shift much more demand to electric vehicles. This may cause a trigger in price competition that will lead to revenue growth for Tesla and increase profit margins for the electric motor company.

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Comparative Cases Nio is a Chinese automaker intending to make its way into the electric vehicle industry. It is currently expected to become “China’s Tesla” as it aims to produce similar vehicles to Tesla but for a lower price for Chinese consumers. Besides the price, Nio has another advantage over Tesla in China, which is government backing. Being Chinese and aiming to compete with an American manufacturer, the Chinese government fully supports Nio. Last year, the government-supported Nio by offering it a $1 billion bailout, providing the company some much-needed financial support.

Toyota is one of the colonizers of the combustion engine industry that will be aiming to rival Tesla’s market share in the coming years. Toyota is the second most valuable company right after Tesla which means they will probably be Tesla’s biggest competitor. Toyota is aiming to come out with an all new electric SUV which will be competing with Tesla’s Model X. Mr Toyoda, president of Toyota Motors, claimed that Toyota is ahead of Tesla in terms of their ability to manufacture a wide variety of clean energy vehicles. This includes their range of hybrids and their Mirai hydrogen car. However, the one industry they were slow to adopt to were fully electrical vehicles, giving time for Tesla to build a bigger advantage before their entry.

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Research & Results Justifying their Market Value As mentioned among Tesla’s challenges, its stock valuation is valued highly when considering its actual financial reports. It is based on what it could be in the future, not currently. However, Tesla has exceeded expectations on multiple occasions in many years in terms of its growth rate.

This was highlighted in the earning calls of Tesla this year. In the Q1 (first quarter) results, Tesla reported a 93 cents earning per share compared to the estimated 80 cents. They also set a record in vehicle deliveries with 184,00 vehicles. This was made despite the auto industry’s supply shortage of semiconductors and the other issues caused by the pandemic. The company also posted a quarterly profit with their gross automotive margins going up to 26.5%, from the 21% in the Q1 earnings call of 2020, with cost-cutting allowing them to increase their profitability. With such tremendous growth in Q1, Tesla continued to exceed expectations in their Q3 (third-quarter results), reporting $1.86 per share compared to the expected $1.39 of the Zacks Consensus Estimate (The average of all EPS estimates).

Their automotive gross margins soared to 30.5%, rising 4% from the Q1 earnings call.

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In conclusion, according to Bloomberg Opinion’s Liam Denning, for Tesla to justify its current market value over the long haul, earnings would have to soar 86-fold over the next ten years. By comparison, per-share profit at Apple Inc. jumped about 26-fold between 2006 and 2016.

However, experts believe only Tesla would manage to prove their critics wrong with recent growth statistics.

Enhancing their Innovative Culture For Tesla to stay ahead of the new competition and intend to justify their stock price eventually, they will have to continue to enhance their innovative culture, and there seems to be no sign of them stopping. Elon Musk has announced that Tesla is planning to release a new pickup truck and a supercar that is supposed to arrive in 2022. They will also be adding to their four current models as they are currently working on an electric quad bike, a $25,000 car that would appeal to a new audience, and a van.

However, Tesla is not only working on innovating products but also where and how their products are being made. The Gigafactory is something that Tesla heavily relies on to keep up with the increasing demand. The Gigafactory is a Tesla plant that manufactures everything the company provides. The factory makes solar panels, electric engines, batteries, and more. Tesla claims that this helps them reduce shipping costs between locations for assembly and fastening

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their production lines. This is located in Shanghai, but Tesla plans on opening new plants worldwide. There is one located in Nevada, which, once finished, will be the biggest building in the world, occupying 2 million square feet. Once all Gigafactories currently under construction are being fully utilized, this will allow Tesla to get a hand up on competitors due to their ability to meet market demand with lower costs and ability of rapid production.

Tesla

Gigafactory

located

in

Nevada set to become the biggest building in the world. (tesla.com)

Expanding into Third World Countries Expanding into third-world countries will probably be one of the most complex and most important challenges for Musk if he is willing to make Tesla lead the electric vehicle industry into being the new normal. Expanding to these regions will also allow them to have more demand in varying regions which will cause Tesla’s revenue to be less dependent on China. It would even help them challenge their competitors because one thing that Toyota, Ford, etc., have that Tesla does not, is the ability to reach and adapt their products to third world countries. If this

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were to happen, Tesla would be crossing a huge barrier that would be necessary if they were to continue being the face of the electric automotive industry.

So to test whether it would be suitable for Tesla to expand into third world countries, we asked a sample size of the Egyptian population some questions to know whether Tesla would have a market demand to expand to third world countries such as Egypt. We asked questions like: What are the most important things to consider when buying a car? Do you have any interest in owning an electric vehicle in the future? Are you aware of climate change?

The results we got were very promising for electric vehicles in Egypt. We found that nearly 70% of those questioned were aware of climate change and near 40% would consider buying an electric vehicle. A significant factor for that answer was the increasing price of fuel in Egypt.

This is because the government used to subsidize the price of fuel, which means that they pay a fraction of the price on behalf of the consumer, so it is cheaper for the Egyptian citizen.

However, the Egyptian government has been reducing the size of the subsidy it is paying. It will continue to do so, causing the fuel price to be too high for the average Egyptian, something that will shift the demand for electric vehicles in Egypt. Also, when it came to what were the most important things in a vehicle when purchasing, the top three answers were: low maintenance costs, durability, and longevity, which are all part of why Tesla stands out than the rest. We

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would interpret these results that electric vehicles would have a market demand in Egypt, and with Tesla working on a $25,000 car would only make it more appealing than its competitors as this would be more suitable to a third world country such as Egypt. In conclusion, there is consumer appeal. However, is the government making it easier for consumers to transition from fossil fuel to electric cars?

To learn how the government was dealing with electric vehicles, we managed to get a hold of an economic advisor of the Ministry of Petroleum and Mineral Resources. The economic advisor had informed us that the Ministry is working and has been working for the last two years on putting electric charging stations in fuel stations. The government has also allowed the private sector to input these stations as companies such as Revolta and Infinity Energy are developing and constructing charging stations for the public. The economic advisor also told us that the Ministry of Finance has been trying to make the transition to electricity much easier by decreasing the cost of electric vehicle licensing and taxes and offering customs exemptions on some electric vehicles. Even the Ministry of Electricity has been working on bringing electricity to the charging stations in the process of being built and placing stronger cables to support the fast charging that will eventually be demanded once electric vehicles gain popularity.

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Conclusion In conclusion, we believe that Tesla are indeed capable of leading the electric vehicle industry into becoming the new normal. Based on our research, this will be reliant on many factors, mostly in the hands of Tesla. Tesla will need to firstly justify their stock value through their financial reports in order to satisfy their investors, and they are certainly on track as our research has shown. Our research has also shown that their innovative culture has no signs of stopping as they intend on developing their products as well as the ways they are being made. Lastly, we have seen that expansion to third world countries will be necessary in order to remain considered as the face of electric vehicle industry, as it is something Tesla lacks in comparison to its competitors. Our research has proved that there is a market for clean energy cars and the governments seem to be taking the right path in order to make the transition of its citizens much easier.

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