Importance of Innovation and CSR in Aston Martin

Business Environment

Table of Contents
INTRODUCTION...........................................................................................................................3
Task A..............................................................................................................................................3
Task B..............................................................................................................................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Innovation plays important role in business and success in several aspects and this is why
it is important for business to undertake innovation. CSR in present times has become very
important in several aspects and this report will discuss about importance of innovation and CSR
in context of Aston Martin.
Task A
Innovation is playing key role in success of the business and there are several reasons
because of which innovation has become for business in order to remain competitive and survive
in the current business environment. Innovation have become important because the businesses
are now dealing in more competitive environment and in order to survive and grow in
environment where many companies are presenting different products and services that are able
to attract customers. Innovation is important for creating and presenting a product and service
which is able to attract customers (Katz. and Green, 2018). A product that is first of its kind, and
offers a great value to the customers is a successful innovation. In relation with innovation
technical innovation has taken significant place, this innovation is linked with technology. For a
company like Aston Martin Technological innovation is a key to success. The reason because of
this is its product and their efficiency is based on what technology is used for that.
Technological innovation can be defined as a process where organisation starts a journey
where importance of technology is considered as a source of innovation and become success
factor for the organisational innovation. Aston Martin is a car manufacturer which is totally
linked with technology and efficiency of the cars is linked with effectiveness of the technology
used for developing and creating the cars. Innovation is very important for economic
development. The reason is that innovation attracts customers to try and buy products being
offered by the company and this contributes in economic development of the organisation. In
enhancing and contributing to economic development of the Aston Martin some of the key
factors are sales and profit and growth of company (Kasemsap, 2018). These three elements are
indicator of economic development and growth of the company.
Impact of Innovation on Sales