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

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