Better Place Company Essay Example | Topics and Well Written Essays - 1750 words

Better Place Company - Essay Example In essence, the objective of this company was to reduce and eventual riddance of automobile industry’s over dependence on oil. The mission of Better Place Company is to make the world a better place by 2020 through successful adoption of electrical vehicles use. The intended change will create a significant difference in the environment by reducing the amount of emissions. The automobile industry stands to gains from Better Place Company in numerous ways, which include providing flexible and readily available products for the consumers such as service plans, accessible charge spots and switching stations. Moreover, the absence of Better Place Company in the automobile industry will significantly reduce and weaken the inter connections amongst the primary players in the industry. 1.3 Stakeholders Better Place Company enjoys an intensive niche of stakeholders in the electric vehicle manufacture and marketing environment across numerous countries, which include Israel, United States, Denmark, Canada, Australia, and Japan. Some of the Better Places’ stakeholders include diverse governments, national electric utility, and venture capital and battery firms. In addition, the car manufacturers and the corporate sector forms part of the Better Place Company’s stakeholders base. 1.3.1Significance of the Stakeholders The company depends on the stakeholders to run its activities. Running financial activities of any company requires capital and from the case study, Better Place Company gets its capital from the stakeholders. For instance, in 2007, the company raised $200 million from venture capital funding and $350 million in 2010 from different governments across the globe. The amount summed up to $1.25 billion making it the second largest start-up in th e history of company venture capital funding. On equal measure, stakeholders such as utility, battery and manufacturer companies play a significant role in helping Better Place in achieving its objective of widespread of Electric Vehicle adoption. The companies link the consumers with the car companies consequently reducing the hurdle of limited mobility, which undermines the adoption of electric vehicles. This linkage influences the consumers’ mindset to adopt the electric vehicles (JOHNSON, SCHOLES, & WHITTINGTON, 2008). Moreover, the linkage creates easy platform of improving services offered to consumers due to the competition amongst the firms. The healthy interdependence between the company and the stakeholders propels the growth of the company factors such as competition from other small companies motivate Better Place to offer exemplary services to maintain its market niche. Consider the following diagram indicating the interdependence between the stakeholders and the Better Place Company. Better Place Stakeholders On the other hand, the government through its policies influenced the standards and incentives, which enhanced provision of the bulky of increased activity in both the hybrid and EVs markets. In other words, the governmental incentives to the service companies such as Better Place expanded the respective market niches, consequently market competition. This move enabled the Better Place company to achieve its objective of wide spread adoption of EVs. 2.0 Industry and scenario analyses The steam engine technology, initially developed and adopted for industrial applications was progressively tailored to personal vehicles by middle of 18th century into the automobile industry due to increased population in cities. Increased demand for