Managing Innovation in Business - Aston Martin Case Study

EXECUTIVE SUMMARY
The report summarises that managing innovation is crucial for a business to look ahead into
future together with come up with creative ideas that rivals have never thought of. The project is
prepared on Aston Martin which operates in automotive industry. The company is popular for
manufacturing and designing luxury sports cars and is global automotive brand.
Aston Martin has made huge number of innovations in its practices in form of cutting edge
facilities at MIRA as well as its reputation for quality along with excellent security that makes it
an ideal place for people to carry out some of its prototype development work. With passage of
time, the company have innovated its marketing and branding, co-creation, technology, social
innovation and products to continue to be truly class-leading.
The report highlights information about the company, its innovation history and present
level of innovation activities. It also reviews organisational current performance and capabilities
along with future innovation requirements in the industry.
Aston Martin is recommended to understand changing demand and apply insights to
devise rational business decisions, make necessary changes in process of supply chain and
produce as well as market electronic car in order to improve their innovation performance.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
Contents...........................................................................................................................................3
INTRODUCTION...........................................................................................................................1
THE ORGANISATION AND INDUSTRY OVERVIEW.............................................................1
Organisation and its innovation history.......................................................................................1
Organisation existing innovation performance as well as capabilities........................................2
The Industry in 2016....................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The report highlights overview of an organisation along with its history and organisational
current innovation performance along with capability. Further, it discusses industry in 2016.
Managing innovation refers to a combination of handling practices required for introducing or
coming up with ideas, prioritising, implementing and putting them into practice (Biemans, 2018).
Purpose of the report is to conduct innovation audit of the company for examining organisational
innovation history, present innovation practices along with future innovation requirement. For
the project, selected organisation is Aston Martin which operates in automotive sector to
manufacture and sell luxury sports cars as well as grand tourers.
THE ORGANISATION AND INDUSTRY OVERVIEW
Organisation and its innovation history
Automotive industry is a sector that includes range of businesses involved in practices of
designing, development, manufacturing, promotion addition to selling motor vehicles. In the
industry, Aston Martin is a company that operates to manufacture luxury sports vehicles and
grand tourers (Aston Martin, 2021). It was founded in 1913 by Lionel Martin as well as Robert
Bamford. Its rich addition to prestigious heritage to deliver beautiful awe-inspiring cars defines
the entity as something truly unique within the automotive sector (Aston Martin, 2021). It is
iconic brand that stood for beautiful and hand-crafted cars which are exhilarating to drive since
the year 1913.
By analysing innovation historical phase of Aston Martin, it is determined that the
automotive has attained significant innovation transformation in last couple of years. Aston
Martin being an iconic brand that rethink car in innovative manner which led entire automotive
industry as well as create lasting changes with practices that are certainly carried over into
housing (Aston Martin, 2021). The entity has transformed itself and experienced shift behind
fundamentals of organisational norms. This reflects that innovation strategy that is product
innovation strategy is linked to radical strategy as products of Aston Martin have undergone
significant changes which have capability to blow up current system and replace with something
entirely new (Aston Martin, 2021).
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