Corporate Governance and Effectiveness: A Case Study on Aston Martin

This research focuses on evaluating the role and effectiveness of corporate governance in leading transparency and overcoming conflicts of interest in Aston Martin. The case study explores the challenges faced by the organization and provides recommendations for enhancing corporate governance practices.

Corporate strategy

Table of Contents
Research Topic: Corporate governance and its effectiveness. A case study on Aston martin.......1
Introduction......................................................................................................................................1
Background of the organisation..............................................................................................1
Issues or problems faced........................................................................................................1
Research aim and objective....................................................................................................1
Significance of research.........................................................................................................2
Research questions.................................................................................................................2
Literature Review.............................................................................................................................3
Research Methodology....................................................................................................................9
Critical review of the results of the research.................................................................................10
Recommendation and action plan........................................................................................12
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
Books and Journals........................................................................................................................16

Research Topic: Corporate governance and its effectiveness. A case study on
Aston martin
Introduction
Background of the organisation
The orgnisation which is selected for current investigation is Aston Martin which is a well
known British independent manufacturer of exclusive deigned luxury sports cars, grand tourers
along with other electric vehicles. The headquarter of Aston martin is situated at Gaydon,
Warwickshire, England, UK and its business operation are spread around to six continents
covering more than fifty countries like Turkey, China, France, Riyadh, Jordan, Germany,
Monaco, Italy, Russia, Sweden, Canada, United States, South Africa and many location of
United Kingdom (Tanriverdi and Du, 2020). Thus, thousands of worker are employed by Aston
martin across the world along with having a wide range of stakeholders comprises of its
mangers, employees, board of directors, customers, and other related parties therefore it become
more difficult and complex for Aston martin to set a coordination and transparency in its work
and corporate strategy.
Issues or problems faced
The Aston martin is an international orgnisation which is having various branches across
the world and having a wide workforce as well as many stakeholders across the globe. Thus, any
issues and difficulties are faced by Aston Martin while leading effective formulation of corporate
strategy and governance which is mainly related and associated with keeping transparency in its
decision making along with clarity in strategy formulation.
Research aim and objective
Aim
The main aim and objective behind conducting this research work is, “To evaluate about
the role and effectiveness of corporate governance in leading Transparency and overcoming the
issue of conflicts of interest in an organisation”. A case study Aston martin.
Research Objectives
 To get better understanding about the concept of corporate governance structure and its
effectiveness in meeting organisational gaols.
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 To determine the various issues and problems that could be encountered by Aston martin
in management of corporate governance and during formulation of corporate strategy.
 To evaluate about the action plan that could be adopted by Aston martin to bring
transparency and resolve issue of conflicts of interest in its corporate governance while
formulation of corporate strategy.
Significance of research
The leading out and conducting current research work is significant from view point of an
organisation as it has become more vital and essential for an organisation to maintain
transparency in its work and operation to comply with legal provisions along with leading
positive impact on mind set and trust of stakeholders (Cardoni, Kiseleva and Lombardi, 2020).
Thus, current research project is vital to evaluate about and get better understanding about the
concept of corporate governance and its need and effectiveness to meet organisational goals in a
more effective manner. Beside this, significance of current project also comprises of leading
more effective analysis of efficient strategy to maintain the proper transparency and
accountability within a form for more efficient operation. Apart from this, current research is
also significant from view point of researcher as meets its personal interest and academic
perspective along with leading out improvement in managerial skills and competencies.
Research questions
 What understanding are you having about the concept of corporate governance structure
and its effectiveness in meeting organisational gaols?
 What are the issues and problems that could be encountered by Aston martin in
management of corporate governance and during formulation of corporate strategy?
 What are the action plan and ways that could be adopted by Aston martin to enhance role
of its corporate governance in overcoming the issue of Transparency and conflicts of
interest within organisation?
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Literature Review
Concept of corporate governance structure and its effectiveness in meeting organisational goals
As per the view point of ElAlfy, Darwish and Weber, 2020 corporate governance is
defined as a system within which organisations are directed as well as control. In this it is the
main responsibility of board of directors to ensure that company is following all practices and
measures of corporate governance. It is essential for an organisation to appoint auditor, directors
and engage stakeholders in order to facilitate good corporate governance practices (Cappa,
Cetrini and Oriani, 2020). With the help of corporate governance organisation can effectively
expand their business operations and effectively ensure more goodwill in marketplace. Thus, it
has been evaluated that it is essential for an organisation to accomplish its organisational
objectives with more effectiveness in order to ensure long-term sustainability in market with the
assistance of strong corporate governance practices. According to the analysis it has been
identified that there are some certain form of core values of corporate governance framework
that are required to be assured by owners and managers to track and implement CSR in an
effective manner (Pasha, 2020). Factors like fairness, responsibility and transparency plays most
important role as a core value of this framework. In terms with fairness it essential for an
organisation to effectively protect rights of shareholders and make sure that equitable treatment
is being provided to all stakeholders including foreign stakeholders. In addition to this has been
identified that all the stakeholders were given the opportunity to have access of necessary
documents. With the help of this practice company can ensure long term sustainability and
profitability. Along with this a good corporate governance framework effectively allows an
organisation to have positive image in marketplace. In addition to this, it has been identified that
organisations must ensure that and has a responsibility to effectively recognise their roles, right
and establish policies and laws by engaging stakeholders. It is important for company to make
sure cooperation among stakeholders and co-operation in order to create wealth, jobs and assure
sustainable business practices of company (Peng, 2020). In context with transparency
management is required to make sure that corporate governance framework is being
implemented in effective manner and accurate disclosure is been made such as financial
performance, governance, structure, ownership in order to have a transparent CSR structure. In
addition to this, it has been underlined that there are number of benefits related to corporate
governance framework through which organisation can effectively conduct their business
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practices with more effectiveness. It has been identified that with the help of strong and
transparent corporate governance framework business organisation can increase trust of
stakeholders, as by providing them information on regular basis company can enhance their level
of trust and can develop long-standing and stronger relationship (Zhu and Westphal, 2020). With
the help of this company can not only enhance their goodwill in marketplace but can also
generate more capability to earn profitability.
By implementing corporate responsible framework with more transparency and
responsibility company can effectively reduce fines, penalties and lawsuits, as this structure
benefit organisation to conduct their business operations by abiding regulation of local, state and
federal laws and other essential laws. In addition to this it has been identified that with the help
of transparent corporate governance structure organisation can lower the cost of capital, as with
the help of having good governance practices an organisation can make a significant reduction in
organisation cost of capital (Hu and Cohen, 2020). It will significantly help them to mitigate
potential risk and can sure more investors. This will facilitate organisation to ensure long-term
profitability and sustainability in market segment. In addition to this with the assistance of strong
corporate governance practices organisation can decrease conflicts and frauds. This is one of the
most important benefits of corporate governance framework through which organisation can
accomplish their goals and objectives with more effectiveness. Along with it has been identified
that the help of good corporate governance practices organisation can significantly reduce waste,
risk and corruption and can implement strong corporate governance practices through which they
can enhance integrity, transparency and trust of organisation in respective industrial sector. Thus,
according to the above mentioned analysis it has been identified that corporate governance
structure is playing most important role for organisation through which they can not only
accomplish their organisational objectives with more effectiveness but can also ensure long-term
sustainability and profitability in market (Fremeth and Holburn, 2020). In addition to this, it also
facilitate organisation and to have trust of stakeholders, employees and customers in a significant
manner that will enhance company capability to enhance its profit earning capability in a well
defined and effective manner.
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Issues and problems that could be encountered by Aston martin in management of corporate
governance and during formulation of corporate strategy
According to the point of (Tao and Song, 2020) it has been identified that corporate
governance is complex and organisation can sometimes feel issues and obstacles to implement
them in a easy and effective manner. It has been evaluated that in this modern business
environment there are number of factors that are leading towards continuous change in most
rapid manner. Thus in order to effectively cope up with these changes many multinational
organisations does not provide proper information and knowledge to majority of directors about
the necessary steps and practices. This affects the position of trust and faith that lead towards
creating conflicts and issues. According to the analysis it has been identified that there are
various or different forms of challenges that be encountered by Aston martin while implementing
corporate governance framework in the organisational workplace structure. Challenges related to
deciding the board composition, differentiate the role of board of management, redirecting the
board of directors, protecting stakeholders, social responsibility of organisation and separating
the role of CEO and chairperson and estimate the challenges that can affect implementation of
CSR framework within company. Further it has been identified that conflict of interest is also
one of the major issue that arise in corporate governance. It is essential for an organisation to
avoid conflict of interest within the framework of corporate governance. Conflicts of interest is
also acts as a challenge that be encountered by Aston martin and negligence of this can affect the
trust of shareholders and public and further affects organisation profitability in number of ways.
CSR accountability issues are also one of the major challenges that can be encountered by Aston
martin in governing and managing corporate governance strategy (Maranesi and De Giovanni,
2020). In addition to this that has been underlined that transparency is also act as a major
challenge. It is essential for management of Aston Martin to ensure that accurate reports with
actual profits and losses figures are available to those who invested in company and
stakeholders. As if an organisation overinflate profit or minimise loss then it can adversely affect
company relationship with stakeholders. Organisation is required to make sure that it did not
present false figures as it affect corporate governance basic principle of transparent practices.
This is also a major challenge that can be encountered by Aston martin in the process of strategy
formulation of corporate strategy.
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Figure 2: Aston Martin shares crash out on lowered full year targets
Source: https://www.sharesmagazine.co.uk/news/shares/aston-martin-shares-crash-out-
on-lowered-full-year-targets
Members of the executive board is required to have ethical duty in which they are required to
make sure that best interest of the stakeholders and customers are being considered while
developing policies and practices of corporate governance (Ma, 2020). It is essential for an
organisation to consider ethical consideration towards protecting social welfare of others
including community in which they are conducting their business operations organisation. It is
important for Aston Martin management to make sure that their business practices does not harm
environment in any manner. Along with this company is also required to make sure that other
labour standards and other ethical practices are being consider while framing corporate
governance practices, as negligence of all these elements can lead organisation to face many
issues and challenges that can further affect long term sustainability and profit generation
capability of an organisation (Wibowo, 2020). According to the analysis it has been identified
that company can face challenges in terms of strict legal regulations, regulatory requirements and
global versus compliance with local jurisdiction. In addition to this internal control and
documentation also act as a major challenge that can effect efficient formulation of corporate
governance practices. Along with this according to the evaluation it has been identified that main
problem with corporate governance is that it is not stand alone, in this organisation is required to
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make sure that CSR policy must align with the company’s values and mission statement and
must be provided to stakeholders with a clear guide. In addition to this it has been identified that
diversity is also one of the most important factor that act as a challenge which can be
encountered by company (Holloway, 2020). Along with this central board of directors are
required to emphasise upon proper mix of perspective and skills in the boardroom of every
stakeholder and make sure that policies and practices are being formulated by focusing upon
workers need. Furthermore it has been identified that disclosure of balance sheet transactions can
be encountered by Aston martin and act as a challenge, as if organisation fails to disclose the of
balance sheet transaction then it is the negligence of corporate governance basic principle which
states transparency. Multiplicity of regulation problems, transparency, and change of existing
practice are some of the challenges that can be encountered by Aston martin while forming
corporate governance policies and practices.
Action plan and ways that could be adopted by Aston martin to enhance role of its corporate
governance in overcoming the issue of Transparency and conflicts of interest within organisation
According to the viewpoint of Curran and Eckhardt, 2020 it is essential for an organisation to
ensure that corporate governance policies are implemented with proper fairness and
transparency. However in order to overcome the issues of transparency and conflicts of interest
within organisational workplace structure it is essential for Aston Martin to adopt an action plan
through which systematic implementation of CSR practices can be undertaken by overcoming
transparency and conflict issue (Ntene, Azasu and Owusu-Ansah, 2020). In this Aston Martin
management is required to emphasise upon board and its audit committee and develop financial
statement in a fair manner. Management of company by presenting organisational financial
results as well as other documents on timely manner to investors can overcome the issues of
transparency. Aston Martin of directors by managing relationships with audit committee and
outside auditor can enhance transparency of organisation annual financial statement Audit and
can implement corporate compliance programs in an effective manner. Along with this it is also
essential for management as well as the board to effectively engage with stakeholders and
considered their interest while disclosing appropriate information’s to them. It is one of the most
important responsibilities of the organisation to recognise shareholders rights in order to provide
long-term value. In context with making decisions it is essential for the board of directors of
Aston Martin to maintain trust with all stakeholders of company such as suppliers, employees,
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customers and community in which they are operating their functions (Ciasullo, Cucari and
Polese, 2020). With the help of this company can overcome the issue of transparency with more
effectiveness. In order to implement corporate governance practices in order to overcome the
issue of transparency and conflicts of interest it is essential for key corporate actors to understand
respective roles of the board, shareholders and management and develop relationships with each
other. Company board of director play most important role to have proper insight of organisation
management and business strategy in a way to accomplish company long term value with more
effectiveness. By selecting well-qualified chief executive officer (CEO) to lead, monitor and
evaluate organisation Performance Company can assure success of their plans and objectives.
The board of directors is required to allocate roles and responsibilities to CEO and senior
management team in order implement corporate governance practices in an effective manner.
Management which is led by the CEO is having responsibility to effectively set, manage and
execute the strategy developed by organisation while emphasizing upon strategic planning
financial reporting and risk management (Kirchmayer, 2020). With the help of effective
management team company can accomplish their objectives of more effectiveness. It has been
evaluated that stakeholders are those individuals who invest in organisation in order to receive
economic benefits in return (Penttilä, 2020). Management by involving shareholders in day-to-
day business management operations and informing them about their voting decisions and
investment can develop effective relationship with them. Management of Aston Martin is also
required to resolve issues of stakeholders and engage them in essential aspects of company. By
engaging the board, management and stakeholders conflict of interest issues can be actually
overcome by respective organisation.
Research Methodology
Discussion of the secondary
Aston Martin conducts its business services in automobile sector and offer products and services
of high quality in the provinces of United Kingdom. This company with the help of effective
management and strategic marketing feature established its leading positioning in global
industry. This company thinks that by satisfying customers with luxury and high-performance
more competitive advancements can be assured. It has been identified that Aston Martin core
value lies in honesty and integrity with customers of high level. It has been determined that this
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company does not compromise on the quality of services that they provide to customers. It
enhances their effectiveness in marketplace. In addition to this it has been identified that Aston
Martin is having strong global brand and sales power that attract number of customers towards
their services and products. In addition to this with innovative technical features and strategic
partnership company attract number of innovators and buyers. According to the analysis it has
been identified that company provide world-class design and engineering topped with stellar
execution with the help of which company assure more competitiveness in marketplace. With the
help of hybrid equity company satisfy needs and demands of customers in a well defined and
effective manner. It has been underlined that organisation has strong advertising and branding
team that facilitates company to provide more stylish and powerful range of cars. According to
the report of baby se it has been identified that Aston Martin sales growth is very good (Aston
Martin's sales growth 'very, very good' .2019).
Figure 1: Annual revenue of Aston Martin Lagonda
Aston Martin’s growth strategy includes plans to expand into markets it believes have
strong growth potential. These include a number of developing markets that are now home to an
increasing numbers HNWIs, including China and other parts of Asia as well as the Middle East.
Whilst we are quick to jump to the conclusion that consumers in these territories will be aware of
9

the brand, this is simply not the case yet. Anchoring the character of the brand will simply not be
enough for bonding with Chinese consumers, as they do not have a ‘James Bond culture’, yet for
instance. Aston Martin needs brand building outside its core markets. It will need to continue to
lead on the product front with extreme halo cars such as the Valkyrie delivering otherworldly
performance, yet create reachable attractiveness by offering points of entry that serve both lower
price points as well as new customer segments. Adding a new SUV model with the DBX and
inhaling a soul into the Lagonda brand will enhance the interest of potential shareholders.
Clearly, such ambition requires huge levels of funding and on a rational level, a successful IPO is
a great way to secure the brands long-term future
Critical review of the results of the research
Aston Martin is performing their business operations in automotive sector. This sector is
facing aggressive competition in which organisations are offering their products and services in
competitive price range. According to the analysis it has been identified that Aston Martin is
facing competition from its competitors such as BMW, Audi, Mercedes Benz, Ferrari, Jaguar,
Bentley, Lamborghini, Lexus and more. All these organisations are attracting customers with
innovative features, technology and competitive price range. Aston Martin is facing high
competition in this industry from their competitors alone with the unpredictable development in
emerging markets (Oliver and Picard, 2020). Thus, in order to overcome competition from its
competitors Aston Martin is required to undertake advantage of more growth opportunities. In
this it has been identified that the company is mainly depending on limited number of suppliers
and emphasise less upon promotion and advertising which is acting as its major weaknesses.
According to the analysis it has been identified that it is important for Aston Martin to overcome
the competition which is affecting their capability to acquire profitability from market segment.
For this company can take advantage of producing budgeted automobiles in order to attract large
number of followers or customers towards the services and products. Company by offering
products and services according to the taste of customers and technology in affordable price
range can ensure more stake holding in respective industrial sector (Orazalin and Baydauletov,
2020). Aston Martin by making expansion of the availability can overcome threat from its
competitors. This strategy will allow Aston Martin to grow their profitability. Company is
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required to invest in local markets and make daily use automobiles, as it has been identified that
large number of customers does not purchase luxury products and services for regular use. Thus,
with the help of providing innovative cars with unique feature and in affordable price range with
advanced technology company can effectively ensure high growth (Oliver and Picard, 2020). By
increasing their availability of preparing for international customers Aston Martin can provide an
opportunity to customers to find services quickly. It will significantly enhance attractiveness of
company in market segment. In addition to this, it has been identified that, there is a significant
rise in the use of electric vehicles in market. Along with this it has been identified that
government of countries around the world are providing many opportunities, subsidies and other
taxation benefits for the organisations who are investing in electric vehicle market. It is a
significant opportunity for Aston Martin through which they can expand their business
operations in number of countries and can become market leader in global automobile sector
(Foroudi, 2020). Company by attracting more number of customers with competitive price
structure can come from its competitors, as it has been identified that leading competitors of
Aston Martin like BMW, Audi, Mercedes Benz and Porsche are taking advantage of competitive
price range to attract more number of customers. By having strong advertising and promotional
strategy will facilitate Aston Martin to take more competitive advancements in respective
industry. Company by promoting unique features and innovation of their services and products
with the use of different advertisement channels and digital marketing can assure attention of
large number of customers towards organisational offerings
It has been identified that Ferrari, Bentley, BMW are successfully taking advantage of
competitive business practices in order to ensure their lead in market. Thus, it is essential for
Aston Martin to closely emphasise upon strategies and measures in order to overcome the
competition and gain more competitiveness in markets. Along with this, with the help of
partnership and alliances with having access of new technologies and products company can
ensure high profitable returns in an effective manner (Xie, Nozawa and Managi, 2020). Aston
Martin by investing in hybrid and fuel cell technologies and in electronics market segment can
become a global leader. It will not only help company to ensure support from government but
can also allow company to have sustainable CSR contribution towards environment and
community in which they serve. This effectively acts as a unique competitive advantage for
11

company through which they can assure more competitiveness and profitability in market
segment (Helmold, 2020). Thus, with the help of these measures and practices and emphasising
upon competitors strategies and plan Aston Martin can enhance their competitiveness in market
segment attracting attention of large base of customers with phone effectiveness.
Recommendation and action plan
In order to achieve more competitiveness in market segment it is essential for Aston Martin to
effectively implement corporate governance policy in an effective manner. For this company is
recommended to build a strong board of directors in which an every member must have a sense
of responsibility, experience and passion towards their roles and responsibility. It is
recommended to company to have diverse group of board members in order to ensure more
competitive advancements (Hunter, 2020). As with having diverse group company can have
decisions and skill board to undertake decisions more effectively. This will allow company to
embrace diversity. Ashton Martin with the help of alteration program can determine needs of
members with the help of which they can ensure more competitive advantages. In addition to this
Aston Martin is also recommended to build loyalty and trust, in this it is essential for directors to
emphasise upon stakeholder’s interest and maintain highest ethical standards. Company is
recommended to have collaboration and an open dialogue with stakeholders in order to
overcome the conflict of interest challenges.
By having loyalty and trust of Stakeholders Company can have transparent business
practices and can acquire more business group. Along with this Aston Martin is required to
create a culture of trust through which company can ensure long-term sustainability and more
profitable with high competitive advancements in market segment. Aston Martin is also
recommended to reward corporate leaders in order to enhance their performance and develop
motivated workplace culture. This will allow company to maximize their overall performance in
a well defined and effective manner. These practices will allow Aston Martin to effectively
conduct their operation in respective industrial sector with more effectiveness. Furthermore
Aston Martin is significantly recommended to formulate medium-term action plan in which they
are required to set up targets by evaluating needs and demands of customers in an effective
12

manner. It is essential for company to provide high quality products and services to customers
and strengthen their risk management system. Furthermore, Aston Martin is recommended to
nurture relationship of trust with suppliers, stakeholders and customers in a well define and
effective manner. Companies is also recommended to effectively respect human dignity such as
labour practices, human rights, safety and health within organisational workplace structure in
order to create a positive workplace environment. Furthermore, company is recommended to
develop good relationship with communities in which they are serving their products and
services (Kraus, Rehman and García, 2020). Aston Martin is also recommended to contribute in
environment through various corporate activities as it will significantly enhance organisational
profitability with more effectiveness. It is essential for Aston Martin to promote use of energy
efficient product and air conditioner in order to lower global warming potential in the workplace
structure. Company is also required to expand and produce electric cars in order to save
environment with more effective measures. Furthermore, Aston Martin is recommended to
reduce use of chemical and greenhouse gases and promote green practices with the help of
focusing upon environment. With the help of all these recommended measure Aston Martin can
effectively conduct their business operations in a more effective manner and can effectively
ensure long-term sustainability and profitability.
According to the analysis it has been identified that company is conduct business operation
in automobile sector. Company is required to make sure that they are having positive
contribution towards community, customer’s employees, stakeholders and environment. Along
with this it is essential for business organisation to develop more effective measures and
strategies and further implement the same into organisational workplace premises. In addition to
the state it has been identified that by emphasizing upon all these practices will facilitate Aston
Martin to overcome competition from its rivals (Izawa, 2020). It has been identified that business
environment especially through aggressive competition in which leading entities are taking
advantage of competitive price strategies and other competitive measures in order to attract
customers towards their organisational offerings. Thus, with the help of these recommended
measures Aston Martin can enhance their competitiveness in market segment and can ensure
long-term sustainability in market. Company is also required to implement corporate governance
practices and measure in a well defined and effective manner while emphasizing upon
13

transparency with more efficiency. With the help of this company can not only ensure more
goodwill and reputation in automobile sector but can also attract large number of customers in a
well-defined an effective manner.
CONCLUSION
As per the above mentioned report it has been concluded that corporate strategy is one of
the most effective strategic plan that allows business organisation to define their corporate
objectives in an effective manner as to accomplish organisational objectives with more
effectiveness. In addition to this it has been evaluated that it allows company to achieve long
term growth as well as profitability in a well define and effective manner.
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