Strategic Management in Aston Martin: Context, Milestones, and Theoretical Concepts

Strategic management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
An outline of the organisational context and key milestones in its development..................1
Evidence of engagement with relevant academic sources as well as literature. Demonstration
of balanced critical evaluation of related theoretical concepts from appropriate sources......2
Application of theory in the context of the organisation, as directed above, and using insights
and examples from your literature review to provide support for any observations and
arguments...............................................................................................................................7
A short concluding section drawing conclusions about the relevance of Strategic Management
theory in informing organisational strategy.........................................................................10
Reflective assessment...........................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13
Books and Journals...............................................................................................................13
Online:..................................................................................................................................14

INTRODUCTION
Strategic management refers to the process of setting procedures, goals, objectives and targets so
that organisation can achieve them in effective manner. It involves implementation and creation
of goals so that managers of organisation can commence their operations according to the
prescribed goals. It is very important for each and every organisation as it assist in evaluation of
different aspects of organisation (Keding, 2021). Strategic management help organisations in
identification of risk and opportunities from internal and external environments. General
guidelines are issued by the managers according to strategic management so that employees
understand the direction in which they have to perform operations. This report is based on Aston
Martin which is a sports car manufacturer. It was established in 1913 by Lionel Martin and
Robert Bamford and it’s headquarter is in Gaydon, United Kingdom. It is very famous
throughout the world for their sports car and regarded as British Cultural icon. This report will
include an outliner of organisational context and key milestones in its development. Relevant
academic sources and literature are used for the evidence of engagement. Various theories are
used in this report for providing support for any argument and observation. Reflective
assessment also carried out in this report based on the key learnings.
MAIN BODY
An outline of the organisational context and key milestones in its development.
Aston Martin manufacture sports car to fulfil the demands of luxury riders and focus on the
departments like service, heritage sales, restoration operations and spares. They are also planning
to manufacture electric vehicles in their factories by 2025 (Makadok, Burton and Barney, 2018).
There were many key milestones in its development because technology advancement takes
place gradually. In the starting of manufacturing of sports car, machines and technologies are
needed which were scares at that time. Innovation and technology results in high quality cars
with affordable prices. Aston Martin focus on inbuilding various features like electric starter,
automatic transmission, air conditioning, electronic fuel injection, hybrids and airbags. They face
various challenges in starting because of lack of resources but later on they develop their
products which fulfil all the requirements of the targeted customers. Aston Martin is ultra luxury
brand with maintaining higher performance as it provides improved experience. There are
various competitors of Aston Martin like Hype luxury, Ferrari, Vibracoustic and BMW group.
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The advantages which they avail over their competitors like providing high end products and fast
delivery with higher quality.
Evidence of engagement with relevant academic sources as well as literature. Demonstration of
balanced critical evaluation of related theoretical concepts from appropriate sources
In accordance to Lukiyanova, Zayarnaya and Kadyrov (2018), the concept of strategic
management is based on effective process addition to principles related to management for
recognising corporate objective or business mission (Lukiyanova, Zayarnaya and Kadyrov,
2018). At a company, strategic management establishes suitable target for assuring objective,
determining current opportunities together with restrains in the environment, developing logical
realistic process in order to accomplish corporate goals. Within Aston Martin, purpose behind
using strategic management is to utilise addition to create distinct and new opportunities for
upcoming duration or future. It demands awareness concerned with big picture addition to
rational assessment relate to future options. Effective strategic management offers strategic
direction that are endorsed by team along with stakeholder, clear organisational strategy, method
of accountability, logical framework for handling uncertainties so to guarantee continuity of
establishment and reacting to external changes through taking rational decisions related to
strategic choices. Beyond making improvisation in organisational outcomes, good strategic
management contributes in social licence of firm to operate in existing ever more informed
environment. All the elements of the conceptual model need to be included at heart of strategic
management for assisting in long term organisational survival.
In the dynamic environment, Aston Martin is facing a challenge of reaching out to new
audiences (Challenge faced by Aston Martin, 2022). Translation of brand value, aspiration along
with reputation to more audiences, particularly significant Chinese market is next phase on
evolution of the firm. Key business strategies of Aston Martin is to reinvigorate marketing based
initiatives for raining awareness of brand addition to drive volumes comprising personalised as
well as digitally led marketing engagements. However, with shifting of company and marketing
online for luxury cars, existing digital platform is no longer fit for objective. It entails collection
of disconnected sites which lacked focus on consumers together with comprised variant
experiences across distinct platforms with restricted centralised management. With this, it is
evaluated that the Aston Martin faces strategic challenges related to delivering customer first
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