Contemporary Issues in Management: Analyzing the Growth and Prosperity of Automotive Industry through Technological Enablers and Innovations

This report analyzes the growth and prosperity of the automotive industry through technological enablers and innovations. It discusses the impact of autonomous vehicles, electrification, artificial intelligence, big data and analytics, and blockchain on the industry. It also analyzes the industry through three lenses: future of consumption, future of enterprise, and future of work.

Contemporary Issues
in Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK ..............................................................................................................................................3
Technology enablers and innovations.........................................................................................3
Analyse the industry through three lenses..................................................................................6
Own views...................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERNCES:................................................................................................................................11
Books and Journals:..................................................................................................................11
Online........................................................................................................................................12

INTRODUCTION
The report aims to analyse the growth and prosperity of automotive industry in the
contemporary world. This industry is known for deigning, manufacturing and selling of motor
vehicles. This industry comes with huge innovative techniques, data and new findings to bring
innovations in the vehicles and launch it into market. In the contemporary business world, there
are a lot challenges and issues which are faced by the automotive industry due to having huge
customer demands, competition, different management techniques and many more. The world is
drastically changing and taking advancement in technology to be effective in terms of cost and
time. Therefore, it shows that the automotive industry is taking rise in the current market as it
fulfil customer demands and binging new solutions to the problems.
In terms of revenue, Automotive industry is most growing and leading one in the world.
It occurs huge investments and capital for research and development to bring something new in
the market. The management practices includes all the technical and professional workplace
activities which requires highly expertise and specialisation in the area of technical aspects.
Therefore, the industry is extensively rising after the period of Covid-19. Over 1.3 million cars
and other electric vehicles are sold across UK in 2019 (Stornelli, Ozcan, and Simms, 2021). It
has grown by 11.5% transactions in the country which is the rise in the automotive industry
growth in the recent year. The report is going to talk about one of the best company in this
industry i.e. Aston Martin. The company is established in 1913 in United Kingdom, England.
The company sells luxurious sports cars and grand tourers. The company is a global auto mobile
brand which set a standard name into marketing by selling high quality and innovative cars at
across worldwide level. The report is going to analyse the technological enablers and innovation
which leads to control the market and analyse the industry through three lenses. It is regarded as
own views.
MAIN BODY
TASK
Technology enablers and innovations
Automotive industry is known for the high enabling technologies and innovations which
are creating impact on the industry. There are many areas which impact on the industry due to
having dynamic business environment. The automotive industry is likely to get high rise in the

upcoming future, with the ease of technological up gradation, the whole automotive sector is
likely to get boost in the rapid phase of modern market. There are a lot of enabling technologies
which has its drastic impact on Aston martin as well. These technologies are described below:
These are described below:
Autonomous vehicles: in the automotive industry, it is the most emerging trend in the
industry which focus on building high quality vehicles and self driving services. The trend of self
driving vehicles is rising into the industry to minimise the human efforts and make the
transportation more easier in daily basis. This is because, there are many accidents and miss
happenings take place due to the conditions and fatigue of drivers or distract from their path.
AVs are extremely advanced recognition technologies which will be the future of economy and
people will get to live their life more effectively (Paunov, and Planes-Satorra, 2019). The
software could be used in terms of computer vision to identify obstacles take place on the route.
This way, the transportation will be more safer through enabling automated detention system and
control. Due to the Covid-19, this trend is impacting on the automotive sector as people demands
for the vehicles who is control free and maintain distancing to minimise the spread of virus. The
leadership and management of various companies like Aston martin has to manage their staff and
operational decisions in an effective manner.
Electrification: due to the high use of vehicles in the economy and market, depleting
fossil fuels reserve will lead to harm the environment that influence the need for electric
vehicles. In the automotive industry, this trend is highly regulating as people contributing for the
electric vehicle. This impacts on the Aston Martin, Tesla and other companies to look for
bringing good battery potential,low prices, inadequate infrastructure and renewable energy based
charging. The industry is affected with this trends due to a lot of demands of EV that will reduce
the cost of fuel and give a sustainable solution. It will minimise the impact of greenhouse gas
emission from the economy (Khamis, Li, Prestes, and Haidegger,2019). The companies like
Lords town motors have built an electric truck in order to move goods from one place to another.
The launch mobility of the single platforms is also rising in the automotive to have an adequate
impact on the customers lifestyle. The upbringing of EV will be depend on how the companies
manage to guide and work specialisation.
Artificial intelligence: In automotive industry, the trend of Artificial intelligence is
growing for the machine learning and deep learning solutions. The robotic solution is required in

modern market to carry out activities in automated manner. It includes driving cars, manage
fleets improve driving safety by giving an inspection or insurance. It is helpful in reducing cost
and give manufacturing decisions. There is requirement of the AI based solutions by managing
feet process that will lead to offer great software which will set all the vehicle motion in a self
updated version. In the automotive industry, this trend of technology is impacting them due to
having a need for for fast and convenient solution to customer problems. The managers and
leaders needs to manage all the IT systems which will easily give the solutions for virtual
assistant service process (Vocke, Constantinescu, and Popescu, 2019). The leaders needs to
look for the expertise solution in AI that will be helpful to expand the company practices and
technology in a better manner. It shows that, there is requirement of 3D perception, effective
software and transmits data to serve in better terms. Machine learning needs to be managed as
the robotics language will be put by technical experts that require good use for resources.
Big data and analytics: The automotive industry is regarded as highly data analytical
sector, there is requirement to store wide information, data and trends statistics. It helps in giving
the decisions for the overall data in the vehicle life-cycle. The customer requires to set their
automotive data finds in the application for driving sales. Various companies are setting trends
for the big data in this industry in order to keep their finding secure from putting huge
investment on the research and development (Pratapa, Subramoniam, and Gaur, 2022). In order
to manage the supply chains, product designs and new vehicles, big data analytics plays a crucial
role in defining appropriate designs which will help the leaders in the contemporary business
world to fight with the issues. It helps in giving the solution of automotive finance in order to
give assess the lenders to avoid risk and uncertainties. The managers of Aston Martin gets
impacted with this solution as they are able to collect big insights from market and launch cars as
per the needs and company potential.
Block chain: in the automation industry, this trends is highly emerging which focus us
on utilising several application for the customer to enable connectivity and mobility reach
solutions for the ride-hailing, public transportation and providing deliveries. Maintain a
connectivity will give quick services and maintain legal terms. This block chain is utilised in
order to keep check on the spare parts and raw material delivery whether it is from trusted
sources or not (Top 10 Automotive Industry Trends & Innovations in 2022, 2020). This will
solve the management issue for inventory stock and cost fluctuations. It also helps in develop

security platforms to avoid any attacks and hacking activities from the automated vehicles. So, It
protects the safety and security of the customer.
Hence, it has seen that the companies in automotive sector needs to look for the high
integration of using emerging technologies and innovations (Urbinati, Franzò, and Chiaroni,
2021). It will provide great security, safety and innovative solutions to give customer
satisfaction. The main technologies which the Aston Martin must use is block chain, Automated
and electric vehicles for working on both present and future sustainability.
Analyse the industry through three lenses
The automation industry is working great current time by bringing new innovations and
fulfilling customer demands. The industry is providing great experiences to the customers by
giving close relation to the innovation and technology. As the industry is highly flexible and
work as per the customer needs and wants. It does shows potential in working for eliminating
contemporary issues of management that may affect the workplace environment. The present and
future of this industry is affected with many consequences like climate changes, environmental
protection and corporate responsibility (Parida, Sjödin,. and Reim, 2019). These are become the
modern requirement of every industry to look for their responsibility towards the culture, society
and values. The industry will be analyse through the three lenses which shows how the
automotive sector will lead to showcase its potential in bringing great technology, advancements
and secure the present and future resources. There will be area of high innovative techniques and
consumer trends which is showing sales of the car. There is requirement of the automation
platforms that will enhance the sales targets by seeing the industry with three major perspectives.
These are described below:
Future of consumption: In the current competitive market, a lot of industry has facing
low growth in future in terms of consumption. The automotive industry is highly known for the
consumer cars which gives a personal space and standard of convenience for the people. There
is requirement of the future of consumption aspects which which is high in the sale of cars. It is
on an inflection point where the customers are generating much knowledge about the transport
and showing interesting in buying vehicles. The money flow of the economy is showing an
upward graph for the sales of cars due to having high need to maintain a standard lifestyle and
invest in cars and vehicles as per customer sustainability (Tiwari, and Bergmann, 2018)
(Wilmsen, Groschopf, and Albers, 2019). The consumption rate of vehicles are rising in the

recent year of 2021 and is expected to gain future rise by the time of 2030. The industry will face
a drop into the sales of cars due to the impact of internal factors of the company such as designs
for the car design, bringing new features in battery and motor parts, managing business with high
specialisation. The other major factor impact on future consumption of Aston Martin and Tesla
in need of mobility vehicles like EV and other Automated cars. The companies are reacting to
this issue by taking surveys and research on bringing high quality batteries and charging station
at every 2km distance. Until the companies would nit achieve this target, they would not gets
success in selling electric cars and face drop down in recent inventories and products.
Future of enterprise: The future of automated industry is likely to get hold on the
enterprise in the upcoming future. The phase of continuous disruption shows that, the situation of
lock down causing trouble to many of enterprises in this industry. People did not spend on the
purchase of cars rather they focused on fulfil basic needs in the era of unemployment and death
crises. Many supplies gets down and dealers get temporarily closed due to lock down. This
shows that, the enterprises are required to come up up with unique tactic and valuable which
influence customer to engage with the purchase of cars and vehicles. The business are running
out of the resources and shortages of elements which impact on their production. Therefore, the
future of automotive businesses is totally depends on the innovation which is a key aspect. The
experts found the issue in automotive sector to left the tradition approach and adopt forward
looking approach for creating better and sustained future for long term. Every suppliers, deals
and manufactures are facing issue of profitable operations, building high capacity to produce
vehicles and tackle new innovations and advancements. Therefore, the organisation needs to take
the advantage of various opportunities in the filed of working aspects (Hizam-Hanafiah, and
Soomro, 2021). There is requirement of the criteria that enables high potential to survive in the
automation market which will provide great establishment of profitability and cost. The future of
mobility is highly growing and will be great to be profitable and informative into market. The
other challenge faced by the enterprise are regards with the fuel economic capacity which is
become a flux. In order to provide high batteries resolution, the auto makers charges high bets on
all the fleets. The companies are required to be greatly capable to adopt new changes and
advance innovation in making the vehicles.
Future of work: The work on automotive industry is highly depends on the education,
trainings and expertise on this sector. The economy is facing decline in various sectors due to the

change in management practices, dynamic environment and other operational challenges which
hinders their growth. This shows that, the industry works to invest high in making vehicles and
motor parts which will set more ease in the transportation by analysing the need of people. There
are a lot of work take place in automation which is related to emerging, technical, IT, financial
budgeting and research and development. These departments develop a lot of opportunities in
the current market which creates necessary for future work and there is high hopes for attaining
gaols and objectives in the industry. For that instance, the employment skills, lifelong learning
and social protection and conditions of work will also impact on the sector. The industry would
only provide opportunities to highly specified individuals. For example, mostly the businesses in
automatise sectors have attained huge reputation into market in terms of revenue, standardisation
and brand name (Ediriweera, and Wiewiora, 2021). Due to which, they have set standards for
hiring people who have great mindset and long term experience in this sector. The companies
like Aston martin, Tesla and Land rover are the true examples of having luxurious cars which are
produced with great innovation technology and designs. Th future of work is not much beneficial
for the general public. Due to which, the government has to launch few programmes for
educational and training to the people to be a part of companies future strategy and innovation.
The strategies for the success of automotive industry is being fairly treated with the customer
centrality, mobility services, connected cars and sensors, digital supply chain and managing
workplace. In the contemporary world, the issue also faced in the failure and loss of management
control due to uncertain environment. This shows that changing customer demands will be easily
meet with the opportunities and consequences. There is requirement of various work policies that
will require involvement of huge public and current youth to involve their creative mindset in
growing innovation technology. The managers and leaders of the companies must enable
corporate acts by providing works to the experiences people also who will put their fresh ideas
for the success of businesses. This will ensure that, the industry is working for the society though
giving opportunities in market that would lead to great development.
From the above evaluation, it has analysed that the automation industry is taking fair rise
in the current market, the future of the companies are growing positively after the period of
Covid-19. It will lead to establish a great position with the market for long term which will
uninflected on the market practices (Gadre, and Deoskar, 2020). Therefore, the future of
enterprise must be well establish by giving the solutions to the innovation and sustainability.

Apart from this, the future of consumption is seemed to be rising by the time of 2030 on the basis
of mobility of vehicles.
Own views
There is key role of automotive industry and there are regular changes seen in the
industry. It is necessary to keep track on all the changes as they have direct impact on the career.
The business organisation that is able to carry on research and implement the changes then they
are successful in market. The innovations are for the benefits of the customers and their
convenience (Abdi and et.al., 2018). The present era is of digitalisation and this has impacted the
automotive sector as well. I need of develop my technological skills and learn digitalisation in
order to carry on my job in automotive industry. There is need of effective digitalisation in order
to enhance awareness regarding the brand and creating effective image. It is necessary for me to
be ready to learn digital trend and follow the same. At the current time, there is high demand of
electric vehicle. It is seen that there is so much pollution due the petrol vehicles. It is necessary
for all the business organisations in this sector to understand the importance of reducing
pollution and switching towards electric vehicles. I also read about the latest and updated fuel
efficient vehicles launched by automotive organisations. These are necessary at the current time
and having proper knowledge regarding them will help me to crack interview. There is need of
proper knowledge and skills in the particular field as it assists in working in the industry
(Gohoungodji and et.al., 2020). I must also work on my innovative and creativity skills. It is
necessary to give new ideas at the time if meetings and working in the company. By knowing the
trends in the automotive sector, I will be able to have good future in the sector.
At the same time, self-driving cars is also in trend. It uses of artificial intelligence,
Internet of Things (IoT) technology and machine learning has provided the facility. I have
analysed that the company’s so proper safety checks of the vehicle before launching them in
market. These driverless cars take my interest towards them. I like to know about the working of
technology and the tools that are used to develop such vehicles. This helps the automotive sector
to grow and improve their functions (Paunov and Planes-Satorra, 2019). I have carried proper
research and analysed the complex systems of high-powered cameras, lasers, and remote sensors.
They provide adaptive cruise control or detect lane departures, thereby improving passenger
safety. It is evaluated that there is need of analytical-minded people in automotive industry. In
order to work in this sector, I need of enhance my analytical skills by doing case studies and

reading information regarding this industry. By working on all these skills, I will bring more
safe vehicles. In present era, the use of electric vehicles is done and that is necessary to have
green environment. I will work more on safety of the customers by using technology. I will use
my knowledge and skills to work effectively in this sector. There is need of regularly learning by
reading and my undertaking projects.
CONCLUSION
From the above report, it is concluded that there are certain issues that are faced by
management of business organisations in order to bring innovation. The employees of the
company are reluctant to change. Innovation is necessary for the success of companies at this
time. Innovation is the process of adding features to the products and services offered by the
company. In this report, there is discussion related to automotive industry. It is necessary to
know about the trends and the challenges that take place. The company must know about the
trends and follow them as it helps organisation to attain advantage. The innovation and
technology that is being used by the industry is evaluated. The use of artificial intelligence,
machine learning, block chain, electrification and autonomous vehicles is discussed. There is
need of using all these resource that help them to carry on the work effectively. The enablers of
the technology and innovation in the industry helps them to achieve successful position in
market. There is need of knowing all three aspects such as consumption, enterprise and work and
the same is important part of this report. The own views are mentioned in the end of this report
and the skills required to work in the industry are also mentioned.

REFERNCES:
Books and Journals:
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benefits. International Journal of Future Generation Communication and
Networking, 13(2), pp.139-149.
Gohoungodji and et.al., 2020. What is stopping the automotive industry from going green? A
systematic review of barriers to green innovation in the automotive industry. Journal of
Cleaner Production, 277, p.123524.
Hizam-Hanafiah, M. and Soomro, M.A., 2021. The situation of technology companies in
industry 4.0 and the open innovation. Journal of open innovation: technology, market,
and complexity, 7(1), p.34.
Khamis, A., Li, H., Prestes, E. and Haidegger, T., 2019. AI: a key enabler of sustainable
development goals, Part 1 [industry activities]. IEEE Robotics & Automation
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Parida, V., Sjödin, D. and Reim, W., 2019. Reviewing literature on digitalization, business model
innovation, and sustainable industry: Past achievements and future
promises. Sustainability, 11(2), p.391.
Paunov, C. and Planes-Satorra, S., 2019. How are digital technologies changing innovation?:
Evidence from agriculture, the automotive industry and retail.
Paunov, C. and Planes-Satorra, S., 2019. How are digital technologies changing innovation?:
Evidence from agriculture, the automotive industry and retail.
Pratapa, P., Subramoniam, R. and Gaur, J., 2022. Role of Standards as an Enabler in a Digital
Remanufacturing Industry. Sustainability, 14(3), p.1643.
Stornelli, A., Ozcan, S. and Simms, C., 2021. Advanced manufacturing technology adoption and
innovation: A systematic literature review on barriers, enablers, and innovation
types. Research Policy, 50(6), p.104229.
Tiwari, R. and Bergmann, S., 2018. What pathways lead to frugal innovation? Some insights on
modes & routines of frugal, technical inventions based on an analysis of patent data in
German auto components industry (No. 105). Working Paper.
Urbinati, A., Franzò, S. and Chiaroni, D., 2021. Enablers and Barriers for Circular Business
Models: an empirical analysis in the Italian automotive industry. Sustainable production
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Vocke, C., Constantinescu, C. and Popescu, D., 2019. Application potentials of artificial
intelligence for the design of innovation processes. Procedia CIRP, 84, pp.810-813.

Online
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that-will-impact-automotive-companies-in-2020-beyond/>