Managing Innovation in Business - Aston Martin Innovation Audit

Managing Innovation in
Business

Table of Contents
Executive Summary.........................................................................................................................3
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................5
The Organisation & Industry Overview.................................................................................5
The Organisation (introduce the chosen organisation) and its Innovation History ...............5
The Organisations existing Innovation Performance and Capabilities .................................8
Knowledge Transfer through Cross-Functional Co-operation.............................................12
Gantt Chart for completion of innovation based techniques................................................12
Pestle Analysis......................................................................................................................15
Porter's five force model ......................................................................................................16
The Industry in 2021 ...........................................................................................................17
CONCLUSION .............................................................................................................................19
REFERENCES..............................................................................................................................20
Books and Journal ..............................................................................................................20

Executive Summary
In the digital age, innovation is an ongoing and complex process within an organization.
Therefore, management innovation is a basic management activity that enterprises must apply in
management activities. This report discusses innovation in the automotive industry in the context
of Aston Martin. The company is a leading organization in delivering luxury sports cars to
customers using high-quality technology. The report effectively describes the company's history
of innovation in launching new vehicles with new technologies. To further analyse the
performance and capabilities of the Aston Martin SWOT and VRIO analysis framework used in
the report. Finally, the report effectively showcases the development trends of the auto industry
in 2021 such as autonomous vehicles, electric vehicles and artificial intelligence

INTRODUCTION
Innovation is the key to the success of every organization in the automotive industry.
Innovation auditing is a method of identifying and understanding how an organization is
effectively and successfully managing innovation (Prange and Schlegelmilch, 2018). The
purpose of this report is to develop an innovation audit of Aston Martin, the market leader in the
UK luxury car industry. The report will examine the organization's past, present and future
innovation activities and capabilities. The report will include an overview of the organization and
its history of innovation. In addition, the organization's existing innovation performance and
capabilities are discussed in the report. Finally, there is industry analysis for 2021 is discussed in
the report.

MAIN BODY
The Organisation & Industry Overview
The Organisation (introduce the chosen organisation) and its Innovation History
Overview of organisation
Aston Martin Logonda is the public limited company in the British Automotive industry.
The company is independent manufacturer of the luxury sports cars and grand tourers. The
company was established in year 1913 by Lionel Martin and Robert Bamford. The company is
headquartered at Gaydon, Warwickshire, England, UK (LSE_AML_2020.pdf, 2020). The
company is international organisation with employee strength of 3000. the company only offer
luxury cars to their customers as it has monopoly in the market for manufacturing explicitly high
quality luxury cars.
Innovation history
Aston Martin, a car company founded 109 years ago in 1913, is known for its
differentiation in building luxury sports cars. The company's history of innovating through
technology surpasses its limits, making it a market leader (PAST, PRESENT AND FUTURE:
ASTON MARTIN’S DYNAMIC STORY, 2022). In its early history, by combining aerodynamic
innovation and elegant design, the company has developed some of the brand's most iconic and
legendary luxury car models, from the 1934 Ulster and 1977 V8 Vantage to the DB11.

The company has a long history of innovation, as Aston Martin engineers and designers have
enhanced the performance of sports cars. Aston Martin's technological innovations have reduced
drag, wind noise and other aerodynamic instabilities such as lift for most of this century. In
Ulster in 1934, Aston Martin used innovations in aerodynamic elements to provide models for
amateur racers.
With the innovation of 100 mph car featured a deliberately low frontal area. In the history
based on the Mkll chassis, the model was replica of the racing Aston Martin which won the prize
in the RAC tourist Trophy. In continue to this, in the mid-1930s 15/98 2-litre Speed Model C-
Type variant, with its early attempts at streamlining, earlier to this a breakthrough demonstrated
by the unique Atom prototype, formulated in 1939. Thus, this innovation of Atom by the Aston
Martin was considered dazzling array of new technologies (Biemans, 2018). Later in 1940 the
Atom was completed and registered after the allied evacuation from Dunkirk.