Aston Martin's Strategic Change

This assignment requires a comprehensive analysis of Aston Martin's recent strategic changes. Students must examine various aspects of the company's transformation, including communication strategies employed to manage change, potential sources of resistance within the organization, and the overall impact of these changes on Aston Martin's position in the luxury automotive market. The analysis should draw upon relevant literature and real-world examples from Aston Martin's case.

Leading Innovation and Change Module

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Situational Analysis.....................................................................................................................1
SWOT Analysis...............................................................................................................................1
PESTEL Analysis........................................................................................................................4
Competitive Analysis of Aston Martin........................................................................................5
Key Challenges faced against strategic ambitions for shareholders values gains.......................6
Proposing resolution through intervention of an agenda of feasible and desirable change for
incremental value addition...........................................................................................................7
Assessing the impact upon current business practices and organizational learning....................8
Reviewing wider implication if proposed changes are not implemented....................................9
PART 2..........................................................................................................................................10
Literature review............................................................................................................................10
PART 3..........................................................................................................................................15
REFLECTION...............................................................................................................................15
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................18

INTRODUCTION
Innovation and change management is the most important aspect for business because it
supports business to ensure upward direction with increase overall rate of return. It enables
corporation to carry out all operational activities effectively as they are able to cater need of
buyers. Present report is based on Aston Martin which is British manufacturer of Luxury sports
cars and grand tourers. The corporation was founded in 1913 by Lionel Martin and Robert
Bamford in order to offer quality services with continuous innovation and change. Aston Martin
Racing and Lagonda are subsidiaries of selected organization. The unique selling proposition of
company is ultimate luxury and powerful performance which contribute towards increasing
customer base. Strong engineering and designing team of company make it possible to deliver
good quality of product (Innovation on the cards for luxury automaker Aston Martin, 2016).
Furthermore, situational analysis has been done by focusing on internal and external
environment of business. It is helpful to understand current performance, productivity and
competitive position of organization. In addition to this, key challenges associated with strategic
ambitions for stakeholder value gains have been evaluated. Apart from this, feasible and
desirable changes are proposed by company through which value addition can be ensured.
However, impact of proposed changes on current business practices as well as the organizational
learning challenges are also highlighted.
PART 1
Situational Analysis
SWOT Analysis
Strengths: The biggest strength of Aston Martin is Legacy because it has developed
itself as a luxury brand that has been around more than 102 years. In addition to that business has
high brand equity. A well-developed rich and prestigious heritage is another strength of Aston
Martin. The values leading to strong customer connect which denotes customer loyalty. The
cited brand pride for its craftsmanship denotes the strengths of business and it has a strong
engineering & designing team. The brand is known for its ultimate luxury & comfort in cars
along with cutting age innovative and technological features. Aston Martin has gained significant
image as a sport car brand and has a strong presence in racing and motor sports events. The
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marketing initiatives of business are the biggest strengths as it has created marketing and
branding through advertising (Aston Martin SWOT Analysis, USP & Competitors. 2016).
Weaknesses: The major weakness of Aston Martin is its limited product portfolio in
emerging economies which restricts it from capturing enough market share. Along with this,
Aston Martin has a limited model range with lower price which is not as per changing
demographic. It denotes that the mentioned company has comparatively lesser market
penetration. The people in emerging economies are now capable to afford luxury cars but
weakness for Aston Martin is that these market have not been targeted yet, hence, there is limited
product portfolio in emerging economies.
Opportunities: The cited company has various opportunities to develop its market in
emerging countries for which it can go for expanding automobile market. Aston Martin can use
its historical values and heritage to leverage it for acquiring new customers from marketplace.
The corporate entity has various opportunities to increase market penetration while using
extensive distribution as well as focusing on increased promotion. Addition to this, the business
attract more customers through adopting competitive pricing. Putting steps into spare parts
industry is an opportunity for the mentioned company for which it has to increase the availability
of service and spare parts (Aston Martin SWOT Analysis, USP & Competitors. 2016).
Threats: The organization has threats of competitors in the market place which affects its
business operational and profitability. The competition with leading brands such as Mercedes
Benz, Porsche, Bentley, Lexus, Audi, Maserati puts another threats to business. Fuel cost has
continually been increased which proposes threat to business in regard to decreasing sales. There
are many competitors which are trying to offer competitive products along with same features at
low cost, this aspect can be a threat to business. Product innovations by leading competitors can
also be a threat for business entity (Aston Martin SWOT Analysis, USP & Competitors. 2016)..
Table 1 SWOT Analysis
Strengths
 Strong legacy
 High brand equity/ image
 Rich historical heritage and values
Weaknesses
 Lesser market penetration
 Narrow defined market
 Limited product portfolio
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 Qualified engineering & designing
team
 Innovations (Aston Martin SWOT
Analysis, USP & Competitors. 2016).
 Brand image as a racing and sport
vehicle
 Strong marketing and branding
 Less market share in emerging
economics (Aston Martin SWOT
Analysis, USP & Competitors. 2016).
Opportunities
 New market penetration
 Converting into public limited
Company
 Increasing vehicle market
 Historical values and heritage
could be leveraged to attract
new customers
 Focus on market penetration
(Aston Martin SWOT Analysis, USP
& Competitors. 2016).
 Extensive distribution and
increased promotion
 Competitive pricing
 Increasing the availability of
service and spare parts
Threats
 Continuously increasing fuel costs
 Intense competition from big
automobile giants such as Mercedes
Benz, Porsche, Bentley, Lexus, Audi,
Maserati
 Competitive products offering with
same features at low cost
 Product innovations by competitors
PESTEL Analysis
PESTEL analysis is conducted to carry out in-depth research into external factors
affecting business of Aston Martin. The external factors including political, economic, social,
technical, environmental and legal. Here is a PESTEL analysis of Aston Martin|:
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Political factors: Political stability is a major factor affecting the business of mentioned
company. Including this, EU regulation related to increased export prices and tax structure of UK
government affects Aston Martin’s business practices. However, business is also affected by
pressure groups but company has adopted a territorial growth strategy which expose company to
different export taxes and market restrictions (Michel, Todnem and Burnes, 2013).
Economic factors: Being a global brand, Aston Martin is affected by economic factors
such as exchange rates, currency fluctuations, interest rate changes and purchasing power of
individuals in the society. Inflation in the economy and GDP growth rates affects business in a
significant manner.
Social factors: The social factors of business significantly affects the organization and its
practices. Being a luxury brand, it deals with cars of high prices which satisfies the needs and
wants of individuals. The target market of Aston Martin is small as there are less people with
purchasing power who by products (Martin, 2013). The people in the society with luxury life
style demand more cars as compared to middle income level. Consumer purchasing power is the
social factor affecting individuals as compared to others.
Technological factors: The emerging trend of technology provides a progressive way to
business and affects it in a significant manner. Aston Martin has proved itself as a technical
leader as it believes in innovation and offers well balanced product with desirable technological
features. The automated production line has supported company to increase its sales while
reducing cost of business. New technologies in automotive field possess significant impact on
business, however, innovative marketing and advertising affects business in a positive manner
(Martin, 2013).
Environmental Factors: Within UK, road transportation is the biggest sources of
pollution in the UK which lead to poor air quality and other negative climatic affects. The
government of Britain is imposing some regulations on CO2 emission from cars. The automotive
leader is making cars with the technology of efficient reduction of CO2.
Legal factors: The legal environment consists of laws related to trade practices. The
European Commission is new laws covering competitive behaviour, product standards, labour
laws etc which are significantly followed by Aston Martin (Martin, 2013).
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Competitive Analysis of Aston Martin
Luxury car market of UK has intense competition where Aston Martin faces competition
with Mercedes Benz, Porsche, Bentley, Lexus, Audi, Maserati, Mercedes Benz and Porsche are
two major competitors of Aston Martin as they are dealing in luxury sport car segment however,
they are different from Aston Martin in terms of total investments on advertising. Aston Martin
has created a distinct image from its competition in terms of 3 important elements such as power,
beauty and soul. Advertisements of Mercedes and Porsche are focused towards brands rather
them product and these entities reaches target audience using IMC tools so as to communicate
with mass. The major reason behind this fact is that the business has a huge brand portfolio
which is adopted to different needs and wants. Ferrari focuses towards exclusive events to owner
and their relatives so that people can be forced to have similar style and habits to the brands.
However, Ferrari has its own team of marketing which mainly focus on maximising the media
exposure through live broadcasting of the races. On the other hand, Aston Martin uses varied
mix of communications, sponsoring races and automotive competitions. In addition, it
advertisers brand while using conventional and non-conventional media channels. The
advertisements of Aston Martin are focused on developing partnership with brands that is going
to add value to Aston Martin, hence, it relies on direct marketing approaches. Aston Martin uses
various communication methods to communicate with market people such as Direct, Marketing,
Online, Press, OOH, public relations etc.
Top end cars UK market
share
Percentage
Mercedes Benz 37%
Porsche 28%
Aston Martin 6%
Ferrari 4%
Others 25%
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37%
28%
6%
4%
25%
Top end cars UK market share
Mercedes Benz Porsche Aston Martin
Ferrari Others
Key Challenges faced against strategic ambitions for shareholders values gains
Whenever business implements change within the organization it faces some challenges
from both international and external market, however, challenges faced strategic ambitions for
shareholders values gains is the major issue faced in internal environment. The change is
implemented in the organization to provide a good return to the shareholders who have invested
their money in the business. Aston Martin’s shareholders want to have good returns, the business
is proposed with having some technological changes to increase the brand portfolio in emerging
economics (Hurn, 2012). Surly the company is going to face some challenges against strategic
ambitions for shareholders values gains:
Communication: The major challenges is of communication which is to be faced at the
workplace in which shareholders might not be communicated with the benefits of proposed
changes, hence, they will not support the change held in the business, in such manner it is
important to convince shareholders by making a financial projection and convincing them that
business is going have good returns (Bourne, 2012).
Unclear understanding of shareholder’s requirements: The major challenge is faced
regarding understanding of shareholder’s requirements which become challenge in the process of
convincing them and gaining their support. The major task of management is to effectively
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communicate with the shareholders to identify their requirements so that they can be influenced
for adopting proposed changes that matches their requirements.
Lack of support: The major challenge is related to lack of support from shareholders for
the proposed changes if they are not provided a justifiable reason of proposing such changes.
Financial issues: To propose new changes, the company requires to have sufficient
finance in relation to propose new changes for which It is required that the shareholders invest
their money for having good returns.
Proposing resolution through intervention of an agenda of feasible and desirable change for
incremental value addition
According to the situational analysis, it has been found that company has limited product
portfolio in emerging economic like India and China. However, the main reason behind the same
might be high cost of production and barriers related to culture or other related. At this juncture,
company has chance bring innovation in its services or products in order to satisfy buyers of
emerging economies who desire to own luxury vehicle. This will be effective for increasing
market penetration with the help of promotion (Appelbaum and et.al., 2012). This change will be
implemented by producing economic luxury vehicle where ordinary spare parts will be used. It
can be critically evaluated that, organizational like Aston Martin always produce luxury car with
premium price where it becomes impossible to offer the same in economic prices. Owing to this,
Aston Martin can contract ordinary suppliers of spare parts for producing cars in emerging
economies. Though, design of car will be kept same for the purpose of making customers
satisfied. This is the effective aspects for reducing cost of production and setting affordable price
for customers of emerging economies (Bevington and Samson, 2012).
Furthermore, this change can be implemented by preparing team of competent and skilled
personnel. This team will help company in offering quality product to end users without having
much impact on productivity and profitability. Similarly, production procedure must be changed
in the light of cost and non-monetary benefit (Cameron and Green, 2009). For example, buyers
of India would like to prefer cost effective product as that is developing nation. Here, luxury cars
like Aston Martin might not be able to sell costly product. For this purpose, designing of cars
will be kept the same its internal structure will be changed. This aspect may have impact on
quality of products in long run however, management have clear justification regarding the same.
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At this juncture, suppliers offering ordinary spare parts are signed on the basis of long term
contract. They can also provide certain percentage of commission in accordance with policies
and procedure of corporation (Cennamo, Berrone and Gomez-Mejia, 2009).
In addition to this, in order to ensure incremental value addition this require on priority
basis which aids to increase customer base. However, company can follows the rules and
regulation imposed by government of another country which related to CO2 emission. This
aspects contribute towards increasing ethical conduct of business at global level. Moreover,
current technological change is quire feasible but initially high investment will be required to
impart training among existing personnel (Claire, 2010). It will make possible for company to
cater need of different types of buyers. Therefore, this desirable changes facilitate company to
add more value in its products and services. It proves to be effective for creating competitive
edge in the marketplace. However, market penetration available as opportunity of firm can be
applied at the time of implementing desired changes. This ensure long run growth of corporation
with increased rate of return. Hence, feasible change in team will be helpful for upward
movement of business in global market (Giraud and Autissier, 2013).
Assessing the impact upon current business practices and organizational learning
The resolution of proposed changes will not have more impact on current business
practices. This is because market or production will continuously move as it is but there will be
minor changes in cost structure. Here, impact of changes will be observed on current business
practices and organizational learning both. These are explained as follows-
Current business practices
The current business practices of Aston Martin will have some changes because
production might take place in two lot. One lot will be there in order to provide products for
emerging economies. On the other hand, second lot helps in meeting requirement of daily users
of country like UK and other foreign countries (Parker and et. al., 2013). However, organization
will require to access cost effective source of finance which aid to lower down cost of
production. Furthermore, Aston Martin require to provide training to workforce in order to
enhance their skills and potential. This aspect facilitates organization to cater need of buyers who
want to own luxury vehicles in cost effective manner. Similarly, profitability may go down due
to investment in new proposal or technological innovation (Shoham and Perry, 2009).
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The current aspect of doing work is quite different from that which company is purposed
to implement. However, customers of UK and other related countries are happy with products
and services offered by Aston Martin. However, suppliers contact will be established in order to
ensure smooth flow of production in the marketplace (Smith, 2011). In the absence of continuous
supply of luxury cars, company might loose its customer base. For this purpose, it is necessary to
deliver good quality of products and services by ensuring consists flow of production.
Organizational learning challenges
In order to implement technological change, company may face challenges related to low
rate of return and dissatisfaction among buyers. This is because first time users generally face
issues related to mileage, quality and pricing strategies. For this purpose, management of Aston
Martin get ready to resolve all these issues by implementing effective strategies (Cloud, 2010.).
Here, firm needs to take care of all related aspects such as preferences of buyers and their need
such as small vehicle or large. Even by incurring huge investment, there are uncertainties
because of completions in the emerging market (Aston martin and red bull racing to create next
generation hypercar, 2016). For this reason, research activities must be focused which will
directly increase flow of production. It can be critically evaluated that competitors can copy the
design of products for this purpose market penetration and other related promotion strategies will
also be implemented.
However, workforce can resist changes which take place because of technological
innovation. Apart from this, being successful organization in luxury segment, company can train
its personnel and make them ready to accept all changes taking place in production procedure.
Therefore, some of the changes will take place in technical aspect and accordingly mechanical
staff are also required to be trained (Miller, 2011). Hence, company can resolve issues as it is
going to get long term benefit by creating its goodwill at international marketplace. Not only this
but buyers will get luxury product in cost effective manner which in the they can be retained by
Aston Martin for longer time span.
Reviewing wider implication if proposed changes are not implemented
The current technological innovation is key to success of company in the marketplace.
This is because organization is able to grab opportunities related to market penetration and along
with that affordable luxury cars can be provided in emerging economies. In case company does
to implement that change it will have to pay the higher cost for the its competitors. This is
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because market will be captured by its competitors (Boeker, 2009). Owing to this, company
should implement the change in order to carry out all business activities at international level.
Furthermore, many of the corporation like to invest their fund for expansion of business. Here,
Aston Martin will decrease its customer base if it does not bring such kind of innovation in the
marketplace. The external factors like higher competition, increasing demand of buyers and their
preferences related to pricing make huge difference on reputation of organization. It shows that
company can adopt this feasible change as it will not affect any of its production activities to a
great extent. However, company can acquire cost effective sources of finance in order to have
contact with suppliers offering spare parts (Appelbaum and et.al., 2012).
Furthermore, Aston Martin must provide training for its personnel in order to increase
their expertise. This will directly give power to organization for implementing feasible changes.
However, there will be some issues regarding managing this change during initial stage. It proves
to be effective for delivering good quality of services for large number of buyers. Therefore,it
would be more beneficial for management to implement the proposed changes and get
competitive edge in the marketplace (Cloud, 2010). Apart from this, business can easily enter
into emerging economies when external factors like legal, political and technological bring
adverse impact.
PART 2
Literature review
Innovation and change
Innovation is a key to success which significant lead to change. To the view point of ()
organization need to constantly innovate if they wants to succeed in the marketplace. In a general
phenomenon, Innovation is defined as a scientific, technological, organizational, financial, and
commercial activity which is required to create new products or processes.
In addition to this, Innovation is termed as an aspect which is adopted to make things better,
faster, or cheaper as compared to competitors. The author has further supported that change and
innovation lead to ongoing improvements and relatively helps in gaining new idea for changes.
According to Mantere, Schildt, and Sillince (2012) innovation lead to increased productivity
which can be lead to improve wealth in an organization and make its competitive in the
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marketplace. However, the most important thing is that companies have to innovation and
change effectively and proactively. To creating culture of innovation is the major requirement of
organization in case they wants to become competition and if they want to lead technology.
Policies encouraging innovation have to be implemented within the workplace and innovation
needs to start at the top by senior management and then it is forwarded staff to implement such.
As per the view point of Michel, Todnem and Burnes (2013) business entity has to provide
motivation and rewards to staff for innovations. When employees get reward for the innovation
their motivation can be boosted. Most of people thing innovation as a key to change hence, it is
about change. Nonetheless, managing change is also and significant aspect that decide the
success of firms. Change at the workplace can come from various sources, but when it is about
innovation, there are two main sources such as incremental innovation and disruptive innovation.
Theories of change
Various theories of changes focuses on a fact that change is a real phenomenon and it can
be implemented and managed while using various steps or phases. All the theories rolls around
the answer of how does successful change happen. Following are some famous theories of
changed have been described along with their implications.
Lewin’s three-step model
In 1951, Kurt Lewin has introduced three-step change model which focuses on a dynamic
balance among the forces which oppose change directions. There are two major forces in change,
one is driving force that facilitates change as it pushes employees in the desired direction, and on
the other hand, restraining forces are the second one that hinder change as it push employees in
the opposite direction. The proposed change model helps in shifting balance towards the
direction of planned change. There are three major steps of change including unfreeze, change
and refreeze.
Unfreeze: According to Lewin, this is the first stages of change in which organization
prepare itself for accepting that at the moment the change is necessary. Here, in such stage it is
important to develop message showing why it is not feasible to continue with existing way of
doing things. The models focuses that unfreezing is necessary so as to overcome the the strains
of individual resistance and group conformity. There are three major methods of unfreezing such
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as increase the driving forces, decrease the restraining forces, applying combination of both
(Habashy, Malo, and Shafiq, 2012).
Change: This is a second method of change in which individuals move towards a
targeted system to a new level of balance. In this stage, people associated with change try to
resolve their uncertainty and look towards new ways do things. This stage includes some actions
related to: persuading employees to do new things, encouraging individuals, working together,
and collecting relevant information to facilitate change. It has been argued that, here in this stage
organization requires powerful leaders that also support the change (Blackmore, Thompson and
Pettigrove, 2012).
Refreezing: This is the third stages of Lewin’s three-step change model which takes
place after implementing change. The organization remain in a threat that change will remain
for shorter time period and employees will revert to their old behaviors, therefore, this step is
approached. Here, in this stage actual integration of new values and existing one is to be created
and traditions. This stage significantly helps people in carrying with new change and supports
organization to internalize the changes (Fullan, 2014).
Theories of Innovation
Diffusion of innovation
Diffusion of innovations is a theory that focuses on explaining how, why, and at what
rate new ideas as well as technology spread in surroundings. This theory is proposed by Everett
Rogers in 1995. The author has argued that diffusion is the process of communicating about
innovation over time between participants in a social system. This theory is originated due to
varied and span multiple disciplines. It has been also argued that there are four main elements
that influences the spread of a new idea these include innovation, communication channels, time,
and a social system. However, the process of innovation specifically relies on human resources.
There re various stages of adoption defined in accordance with theories.
Stages of Adoption
Awareness: This is the stage where individuals are exposed to the innovation, however,
they lack behind in gaining compete information about it.
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Interest: The stage includes the behaviours of individuals in which they become
interested in new ideas and find out addition information to search for it more.
Evolution: Here, evaluation stages represents the mental stages of individual on which it
applies innovation to its present and anticipated future situation, After this, individual decide
whether or not to try to new idea
Trial: The trial stage include the behaviours of individuals make full use of innovation
and finds outs its implication in future stages so as to adoption decision can be taken.
Adoption: This is the last stages of adoption, in which individuals generally focuses on
making full use of innovation.
As per the investigation of Rusly, Corner and Sun (2012) innovation and diffusion cannot
be said as a different process separate processes. Further, it has been argued that innovation is the
first stage of diffusion process that the decision of potential adopters regarding adoption of
innovation is rationale rather than persuasion. Innovation defined that ideas and technology that
ate use to continue adaption of innovation under socio-cultural change. In the theories, it has
been noted that at the time when innovation takes place, there can be seen as intimate linkage of
two or more elements hence, innovation is defined to carry out of new combinations. According
to Hayes (2014) neo-classical argument suggests that innovation results from endogenous
scarcity of some factor of production.
Managing change and innovation
The investigation carried out by Burnes and Oswick, (2012) as the complexity increases
in the business, it become difficult to manage change and innovation. However m, the
forecasting tactics help in projecting future outcomes but it also become important to manage
risk in uncertain situations. The level of risk for managing change become unknowable in
addition the type of environment and time in which change taken place forces some fundamental
restriction to effective innovation. This is to be that changes must provide some benefits to
individuals. To the viewpoint of Hurn (2012.) Change requires learning in which human and
business tend to learn from changes which has been taken place. The organizational have to
manage triggers which come from both internal and external sources. There are many external
triggers including customer needs, needs or potentials, competition, new technology,
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demographic changes , economic cycle along with this , political , environmental social and
industry structural changes held in the market. The business implement changes due to some
regulation change in the external market (Stragalas, 2012.). However, internal triggers of charge
are decisions, problems faced in operations, company’s growth or decline, leadership and
personnel change, as well as changes help in inter-organization alliances. In addition to that,
innovation processes include external as well internal scanning so as to provide early
identification of change triggers, as well as to move into company responses into the strategic
decision. To manage innovation, it is required to follow effective leadership at the workplace.
According to Augl (2012) Change Management practices must be there so as to transit
individuals or organizations by making use of different methods that are intended to re-direct
effective use of company resources, business process to reshape business. To successfully
manage change at the workplace it is required to initiate change from the top management level
and to effectively communicate at every level of management. In addition leader have to come
up with strategies to manage changes at the workplace. To promote innovation and to mangers it
in the organization, management has to provide equal chance to individual in relation to provide
new ideas and to work in such area. However, it is important to manage the changes at each and
every phase of business.
Research problem
The current investigation has been done on Aston Martin which provide quality four
wheeler for customers want to luxury cars. However, the research issues in the report lays
emphasis on limited portfolio of company in emerging economies. At this juncture, organization
can bring innovation by increasing its product range in emerging markets. However, there
remain issue related to costly spare parts which might increase cost of production. For this
purpose, current investigation is being done to analyze the effectiveness of current strategy to use
ordinary spare parts for producing luxury cars in that market where customers generally face
issues in getting the same. The research under investigation will be helpful in meeting
expectations of all end users of luxury vehicles. Therefore, technological innovation has been
discussed for creating competitive edge of the corporation in global marketplace. Furthermore,
the current investigation will also be helpful to increase customer base for Aston Martin.
Research aim
To analyze the impact of technological innovation in emerging economies
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Research questions
Research questions are prepared in accordance with aim framed. It supports researcher in
drawing valid outcome by collecting enough information. These are formed as follows-
 What is the current business situation of Aston Martin?
 What is the role of technological innovation in emerging economies?
 What are different factors affecting business of Aston Martin after implementing
technological changes? What are different ways for implementing innovation change in products and services of
Aston Martin?
Research objectives
The research objectives are framed in accordance with research questions which assists
scholar in extracting right information and proposing suggestions on the basis of facts and
figures.
 To analyze the current business situation of Aston Martin
 To evaluate the role of technological innovation in emerging economies
 To describe the factors affecting business of Aston Martin after implementing
technological changes
 To suggest different ways for implementing innovation change in products and services
of Aston Martin
PART 3
REFLECTION
The completion of entire report reflects that Aston Martin has good growth potential in
domestic as well as international market. It enables management to move forward with increased
rate of return and high customer base. According to this, I learned that how current situation of
business can be assessed in order to implement new strategy. This aspect make it possible for me
to develop my employability skills through which in future I can manage my own business or
performance if I work in other organization. Furthermore, I realized that how innovation can be
implemented by focusing on situational analysis of company. Here, conducted SWOT analysis
where I came to know that organization has good financial position and it targets on marketing
activities also. This proves to be effective for its overall development in long turn.
15

But, here I also observed that Aston Martin offer limited product in emerging economies
which might create its performance in long run. This is because an organization is surrounded by
many internal and external factors. This situation might be panic for entire firm which leads to
lower down overall rate of return. Furthermore, I conducted pestle analysis whereby I noticed
number of changes which can affect performance of company in present or future time. Though,
firm might face several kind of risk in bringing innovation but being a good leader it is potential
to bring change at workplace. Here, I came to know that change is the key to success of business
where management should to learn to overcome initial barriers.
Apart from this, my personal skills related to time management and intellectual has been
developed. This is because I completed the entire project in relatively less time by getting detail
information related to background of the corporation and effectiveness of proposed changes on
the same. Similarly, I learned to gather necessary information and identify potential issues might
affect future performance of company. At the same time, I found it was convenient for me to
recognize strategic direction of firm by assessing its strength and weaknesses. In addition to this,
my leadership skills have been developed because I proposed innovation in the company for
meeting expectations of buyers who like to prefer luxury cars in affordable prices. At the same
time, I explored my communication skills as i came to know regarding several kind of issues
while drafting the report. It facilitates me to bring perfection in entire project report which leads
to give clarify among readers also. Apart from this, value creation aspect also been ensured as
this report is fruitful for me to understand the importance of innovation and effective method to
implement the same.
However, during the procedure of analysis I came to know that how different types of
resources have direct impact on performance of organization. In this manner, I realized that how
resources are managed and their scarcity may spoil image of an organization. For this purpose, I
mentioned all facts related to optimum utilization of limited resources. For example, I
recommended to provide training for personnel who are putting efforts to achieve long as well as
short term objectives. This is because technological changes force them to adopt new aspect of
completing work. At this juncture, I came to know that how company can effective manage its
changes by motivating personnel in order to ensure well being of the same. Apart from this, I
conducted competitive analysis with regard to Aston Martin which reflects that what kind of
strategies are being used by competitors matter a lot. It was value creation for me as well as
16

company on which I worked as this scenario tend to deliver good enough knowledge for the me
complete the work related to such kind of project in an effectual manner.
On the other hand, strategy implementation is the most important aspect for any
organization which require active participation of related to parties such as employees,
management and customers; end users of products and services. It depicts that by completing the
current report I learned to manage work with perfection by focusing on key skills like leadership,
time management and other related. Moreover, by learning regarding the entire scenario I can
support organization where I work by giving fruitful advice. It serves as the effective method for
me to create my good position in the company. Not only this, but I can support management in
decision making process by highlighting on potential issues for not bringing innovation in the
organization. This will help me to gain deep insight regarding practical approach of such kind of
innovation. However, I can be able to perform in right direction if I get chance to work upon
particular strategy. Furthermore, my leadership skills are developed by completing the entire
project as I considered myself on major position of corporation and then propose all the changes
for client organization.
Owing to this, I can say that the entire report became source of learning and a key to
develop variety of skills with regard to management. Apart from this, I also learned to research
on potential issues of company in in-depth manner. This proves to be effective for sharpening my
research skills. However, I require further knowledge in the same field by completing the entire
study in an effectual manner.
In addition to this, I developed my skills related to writing literature review in structured
manner. For the same I referred several models which proves to be effective for better
management of change and implementation of innovation. This enables me to learn regarding
ethical approach for gathering secondary information and applying the same at workplace.
However, I came to know that how theoretical model support corporation in managing change
and innovation in order to create competitive edge. Therefore, project on leading innovation and
change developed my skills and attributes for effective management of business. Accordingly I
can focus upon implementation of right strategy in order to ensure well being of company.
Research problem
The current investigation has been done on Aston Martin which provide quality four
wheeler for customers want to luxury cars. However, the research issues in the report lays
17

emphasis on limited portfolio of company in emerging economies. At this juncture, organization
can bring innovation by increasing its product range in emerging markets. However, there
remain issue related to costly spare parts which might increase cost of production. For this
purpose, current investigation is being done to analyze the effectiveness of current strategy to use
ordinary spare parts for producing luxury cars in that market where customers generally face
issues in getting the same. The research under investigation will be helpful in meeting
expectations of all end users of luxury vehicles. Therefore, technological innovation has been
discussed for creating competitive edge of the corporation in global marketplace. Furthermore,
the current investigation will also be helpful to increase customer base for Aston Martin.
CONCLUSION
The aforementioned report concludes that innovation and changes are important for
continuous development of an organization. This is because it becomes the key to create
competitive edge in the marketplace which probes to be effective for increasing customer base.
Furthermore, SWOT and PESTLE analysis are the crucial aspect whereby situational analysis of
corporation can be done. It can also be said better management of different resources like
physical, manpower and technical resources is the key to implement effective strategy or
innovation. Apart from this, strategic direction of company can be ensured with the help of
assessment of environment in an effectual manner.
18

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