Strategic Management in Aston Martin: Context, Milestones, and Theoretical Concepts
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This report discusses the context and milestones of Aston Martin's strategic management, including its focus on luxury sports cars and plans for electric vehicles. It also explores theoretical concepts such as Ansoff Matrix, McKinsey's Strategic Horizons, and Value Disciplines, and their application in the company's growth strategy. The report concludes with a reflective assessment of key learnings.
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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...........................................................................................................................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.
1
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.
1
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
2
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
2
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innovation, creating path for future growth along with collecting and using data for driving better
decision making.
In accordance to Wright (2022), inserting structure in organisational strategy is related to
application of order in chaotic situation (Wright, 2022). One of strategic management concept
that is effective for managers of Aston Martin to explore strategic options is Ansoff Matrix
which is a strategic tool used for analysing along with planning organisational strategies for
growth purposes. Businesses employ strategies stated in Ansoff Framework so to make attempts
for aggressively growth of sales volume. Within Aston Martin, purpose of adopting the strategic
framework is to identify overarching strategy which the company needs to use and further inform
tactics that are to adopted in marketing activity for reaching out to new audiences. Mentioned
below are description of strategic options of Ansoff Matrix in aspect to Aston Martin:
Market Development: The strategic option is related to selling more of existing
commodities to expanded or distinct group of population. For Aston Martin, use of
market development strategy would be new sales channel, for example, online
channel or international expansion.
Market Penetration: With this strategic option, an organisation makes attempts for
enhancing sales volume of current offerings to same target audience in larger
quantities (Jethwani and Ramchandani, 2021). In association to Aston Martin, use of
the strategic option by managers can be aggressive with marketing in same target
audience or can offer incentives for population for purchasing more of the offerings
in exchange for discount.
Product Development: The strategic option is associated to developing new
commodities or services to existing customers. In association to Aston Martin, usage
of product development strategy can result in bringing new models of car or
modifying existing ones for existing market.
Diversification: The option encompasses selling new products of company to new
markets. Use of the strategic option for Aston Martin is a riskiest element of the
strategic framework. It is because the company and its people have little knowledge
related to product or market but with this strategic option, the establishment can
possibly gain in large numbers.
3
decision making.
In accordance to Wright (2022), inserting structure in organisational strategy is related to
application of order in chaotic situation (Wright, 2022). One of strategic management concept
that is effective for managers of Aston Martin to explore strategic options is Ansoff Matrix
which is a strategic tool used for analysing along with planning organisational strategies for
growth purposes. Businesses employ strategies stated in Ansoff Framework so to make attempts
for aggressively growth of sales volume. Within Aston Martin, purpose of adopting the strategic
framework is to identify overarching strategy which the company needs to use and further inform
tactics that are to adopted in marketing activity for reaching out to new audiences. Mentioned
below are description of strategic options of Ansoff Matrix in aspect to Aston Martin:
Market Development: The strategic option is related to selling more of existing
commodities to expanded or distinct group of population. For Aston Martin, use of
market development strategy would be new sales channel, for example, online
channel or international expansion.
Market Penetration: With this strategic option, an organisation makes attempts for
enhancing sales volume of current offerings to same target audience in larger
quantities (Jethwani and Ramchandani, 2021). In association to Aston Martin, use of
the strategic option by managers can be aggressive with marketing in same target
audience or can offer incentives for population for purchasing more of the offerings
in exchange for discount.
Product Development: The strategic option is associated to developing new
commodities or services to existing customers. In association to Aston Martin, usage
of product development strategy can result in bringing new models of car or
modifying existing ones for existing market.
Diversification: The option encompasses selling new products of company to new
markets. Use of the strategic option for Aston Martin is a riskiest element of the
strategic framework. It is because the company and its people have little knowledge
related to product or market but with this strategic option, the establishment can
possibly gain in large numbers.
3
From the mentioned literature, it has been evaluated that application of Ansoff Matrix by
managers of Aston Martin can assist in thinking more deeply about clear ways for achieving the
growth and reaching out to new audiences. Moreover, with this strategic framework,
organisational managers are able to emphasis towards one or more element at a time. It also
helps in classification of strategic options as well as assess risks effectively through plotting
options in appropriate quadrant. However, the strategic framework fails to state changes needed
by corporate managers in day to day running of business with suitable strategic option. It also
does not consider practices of external competitors (Bodrunov and Plotnikov, 2019). The
business adopting any of the strategy of Ansoff Matrix model needs to have clear idea related to
expectations for gaining from the strategic option as well as honest assessment of associated
risks.
Another strategic framework that is available with Aston Martin is McKinsey’s Strategic
Horizons that keeps strategists emphasised on innovation and growth. The three horizons permit
seniors of company to make visualisation related to what the ambidextrous company needs to
look like for creating new capabilities so to prioritise innovation programs addition to products.
The purpose of strategic concept is to provide business managers with insights into stumbling
blocks which prevent innovation along with growth (Angiola, Bianchi and Damato, 2019). With
this theoretical concept, managers of the firm are required to categorise corporate goals into
different horizons that are as stated in aspect to Aston Martin:
Horizon 1: It is core business horizon that comprises practices which are mostly closely
aligned with existing business. In relevance to Aston Martin, most of immediate revenue
generation practices would sit in the horizon. For the company, the horizon can entail day to day
objectives concerned with selling, promotion together with serving products and customer. Key
goals of the firm that revolves around the horizon can be better existing processes, improving
practices to reach new audience and better margins.
Horizon 2: It includes emerging opportunities which are related to taking what the
company already have together with extending it towards new areas associated to revenue
driving practice (Siddiqui and Farooq, 2022). In context to Aston Martin, the horizon might
entail initial costs, but, the investments neds to be fairly reliable on the basis of extension of
existing proven organisational model for reaching wider audiences. The organisation can expand
4
managers of Aston Martin can assist in thinking more deeply about clear ways for achieving the
growth and reaching out to new audiences. Moreover, with this strategic framework,
organisational managers are able to emphasis towards one or more element at a time. It also
helps in classification of strategic options as well as assess risks effectively through plotting
options in appropriate quadrant. However, the strategic framework fails to state changes needed
by corporate managers in day to day running of business with suitable strategic option. It also
does not consider practices of external competitors (Bodrunov and Plotnikov, 2019). The
business adopting any of the strategy of Ansoff Matrix model needs to have clear idea related to
expectations for gaining from the strategic option as well as honest assessment of associated
risks.
Another strategic framework that is available with Aston Martin is McKinsey’s Strategic
Horizons that keeps strategists emphasised on innovation and growth. The three horizons permit
seniors of company to make visualisation related to what the ambidextrous company needs to
look like for creating new capabilities so to prioritise innovation programs addition to products.
The purpose of strategic concept is to provide business managers with insights into stumbling
blocks which prevent innovation along with growth (Angiola, Bianchi and Damato, 2019). With
this theoretical concept, managers of the firm are required to categorise corporate goals into
different horizons that are as stated in aspect to Aston Martin:
Horizon 1: It is core business horizon that comprises practices which are mostly closely
aligned with existing business. In relevance to Aston Martin, most of immediate revenue
generation practices would sit in the horizon. For the company, the horizon can entail day to day
objectives concerned with selling, promotion together with serving products and customer. Key
goals of the firm that revolves around the horizon can be better existing processes, improving
practices to reach new audience and better margins.
Horizon 2: It includes emerging opportunities which are related to taking what the
company already have together with extending it towards new areas associated to revenue
driving practice (Siddiqui and Farooq, 2022). In context to Aston Martin, the horizon might
entail initial costs, but, the investments neds to be fairly reliable on the basis of extension of
existing proven organisational model for reaching wider audiences. The organisation can expand
4
ideology addition to explore variant of opportunities for reaching new customers, goals and
markets. Expansion in upcoming duration is one of the possibilities for the company.
Horizon 3: It is Blue Sky horizon that takes the company in new direction. In
connotation to Aston Martin, the horizon can create new capabilities together with new business
model for taking benefit of or responding disruptive opportunities, countering disruption and so
on. It represents enormous amount addition to long term progression. With clear strategic goals,
a business is able to create completely new opportunities and start with new approaches.
With information presented in theoretical concept that is McKinsey’s Strategic Horizons,
it is evaluated that the model is growth strategy framework that managers of Aston Martin can
use for making strategic decision about future of the firm. With this, managers manage growth in
coordinated manner. By using McKinsey’s Strategic Horizons, superiors of the establishment are
able to set or challenge growth strategy in order to inform an innovation strategy. It assists
managers to manage varying visions together with guiding conversations through showing team
a grand innovation plan as well as goals related to the plan over time, comprising when to expect
to see returns on results, profit or investment. It is great for growth along with portfolio
management strategy to visualise plans for future addition to convey them in easy manner (Bril,
Kell and Rasche, 2020). The speed of deploying products, competences and tactics related to the
framework are devastating upset to status quo. It does not look towards kind of innovation which
business is doing. The strategic concept needs to take all types disturbances into account for
performing practices to reach sustainability in far reaching changes. When superiors of company
have no influences, all layers of management require to be alert together with respond in
effective manner.
Value disciplines is another theoretical concept of strategic management which works on the
basis of assumption that the corporation is likely to achieve excellence at what it is already best
in (Leiblein, Reuer and Zenger, 2018). With this strategic concept, managers of Aston Martin
can select main value disciplines and ensures to have sufficient elements within the strategy
driving towards the discipline. Through dividing strategic goals into different disciplines,
strategists of Aston Martin are able to make honest assessment related to what strategy can align
with stated focus or competitive benefit. The elements of value disciplines in aspect to Aston
Martin are states underneath:
5
markets. Expansion in upcoming duration is one of the possibilities for the company.
Horizon 3: It is Blue Sky horizon that takes the company in new direction. In
connotation to Aston Martin, the horizon can create new capabilities together with new business
model for taking benefit of or responding disruptive opportunities, countering disruption and so
on. It represents enormous amount addition to long term progression. With clear strategic goals,
a business is able to create completely new opportunities and start with new approaches.
With information presented in theoretical concept that is McKinsey’s Strategic Horizons,
it is evaluated that the model is growth strategy framework that managers of Aston Martin can
use for making strategic decision about future of the firm. With this, managers manage growth in
coordinated manner. By using McKinsey’s Strategic Horizons, superiors of the establishment are
able to set or challenge growth strategy in order to inform an innovation strategy. It assists
managers to manage varying visions together with guiding conversations through showing team
a grand innovation plan as well as goals related to the plan over time, comprising when to expect
to see returns on results, profit or investment. It is great for growth along with portfolio
management strategy to visualise plans for future addition to convey them in easy manner (Bril,
Kell and Rasche, 2020). The speed of deploying products, competences and tactics related to the
framework are devastating upset to status quo. It does not look towards kind of innovation which
business is doing. The strategic concept needs to take all types disturbances into account for
performing practices to reach sustainability in far reaching changes. When superiors of company
have no influences, all layers of management require to be alert together with respond in
effective manner.
Value disciplines is another theoretical concept of strategic management which works on the
basis of assumption that the corporation is likely to achieve excellence at what it is already best
in (Leiblein, Reuer and Zenger, 2018). With this strategic concept, managers of Aston Martin
can select main value disciplines and ensures to have sufficient elements within the strategy
driving towards the discipline. Through dividing strategic goals into different disciplines,
strategists of Aston Martin are able to make honest assessment related to what strategy can align
with stated focus or competitive benefit. The elements of value disciplines in aspect to Aston
Martin are states underneath:
5
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Operational excellence: A corporation which emphasises more on operational excellence
works for providing its target audience with high quality of offerings at competitive prices with
low or restricted barriers to buy. In relevance to Aston Martin, managers through operational
excellence can emphasis internally on streamlining processes including making as limited errors
or mistakes as possible as well as minimising superfluous services. Moreover, increasing
economies of scale addition to standardising are crucial part of the procedure.
Customer understanding: Every establishment feels that their customers are crucial
aspects of business. In Aston Martin, managers can continuously work for meeting requirements
of customers addition to deliver bespoke along with one on one solutions in which that can
emphasis to build long term relationship with customers. For the company, obtaining large
transactions at once is less attractive against building long lasting relationship bond with
potentials and prospects. With the hope of achieving excel in the strategy, managers of the firm
would require intense customer relations management process or approach.
Product leadership: It is analysed that a business which works with key emphasis
towards product leadership always strive towards developing product addition to innovation. In
context to Aston Martin, managers aim to make the business as market leader of particular
product. For this, they can build a continuous stream of innovation which might be in demand
within loyal and new purchasers. The organisation can make investment in research and
development along with have flexible structure for the purpose of stimulating performance
addition to creativity of workforce (Agostini, Galati and Gastaldi, 2020). For the company, new
or innovative offerings are faster and cheaper against past iterations.
As per presented literature, it has been evaluated that Value Discipline Framework is
effective among other strategic concepts as it provides focus, focus along with more focus
approach. For accomplishing full potential as well as become more successful, it is significant to
perform well in all the areas as well as become excellent in at least one of all. The strategic
framework when applied by managers of Aston Martin improves their acknowledgment for
achieving true excel in an individual kind of business model. With this, it becomes easy to divert
all the energy into the approach so to maximise resources addition to minimise distractions.
However, it is critically evaluated that since business cultures, people, processes, structures,
facilities as well as business models which results in excellence on one of discipline are less or
not compatible at the time of attempting practices to accomplish same in other disciplines. The
6
works for providing its target audience with high quality of offerings at competitive prices with
low or restricted barriers to buy. In relevance to Aston Martin, managers through operational
excellence can emphasis internally on streamlining processes including making as limited errors
or mistakes as possible as well as minimising superfluous services. Moreover, increasing
economies of scale addition to standardising are crucial part of the procedure.
Customer understanding: Every establishment feels that their customers are crucial
aspects of business. In Aston Martin, managers can continuously work for meeting requirements
of customers addition to deliver bespoke along with one on one solutions in which that can
emphasis to build long term relationship with customers. For the company, obtaining large
transactions at once is less attractive against building long lasting relationship bond with
potentials and prospects. With the hope of achieving excel in the strategy, managers of the firm
would require intense customer relations management process or approach.
Product leadership: It is analysed that a business which works with key emphasis
towards product leadership always strive towards developing product addition to innovation. In
context to Aston Martin, managers aim to make the business as market leader of particular
product. For this, they can build a continuous stream of innovation which might be in demand
within loyal and new purchasers. The organisation can make investment in research and
development along with have flexible structure for the purpose of stimulating performance
addition to creativity of workforce (Agostini, Galati and Gastaldi, 2020). For the company, new
or innovative offerings are faster and cheaper against past iterations.
As per presented literature, it has been evaluated that Value Discipline Framework is
effective among other strategic concepts as it provides focus, focus along with more focus
approach. For accomplishing full potential as well as become more successful, it is significant to
perform well in all the areas as well as become excellent in at least one of all. The strategic
framework when applied by managers of Aston Martin improves their acknowledgment for
achieving true excel in an individual kind of business model. With this, it becomes easy to divert
all the energy into the approach so to maximise resources addition to minimise distractions.
However, it is critically evaluated that since business cultures, people, processes, structures,
facilities as well as business models which results in excellence on one of discipline are less or
not compatible at the time of attempting practices to accomplish same in other disciplines. The
6
model is required to be embedded in organisational culture in order to implement activities for
interacting with customer to foster connections among businesses and that of individual
consumers.
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.
Concept of strategic management involves various type of decision makings and planning so
that organisation can perform task in better manner (Valeri, 2021). It gives wider prospective to
the managers of organisation so that they can better coordinate and understand the situation ion
better manner. There is an application of various theories using examples and insights which are
discussed below:
Ansoff matrix
This matrix help Aston Martin in evaluating the risk of market in better manner which is
essential for the growth and expansion of business. This strategy includes four sections which are
discussed below:
Market penetration: In this strategy, marketers produce more of their existing products
to serve their existing market. This can be done by attracting new customer segments by lower
down the prices and increment of qualities. Aston Martin can use new marketing tools and
techniques so that they can capture large market share.
Product development: Organisations involve in manufacturing of new products and
services to sell them in existing market by invest capital in research and development. It help
Aston Martin in evaluating the more customers who can attract towards their products. They can
also use different resources which make innovative products according to the demand of new
market segment.
Market development: Under this strategy, organisations search for new market areas so
that they can offer their existing commodities (Barbosa, Castañeda-Ayarza and Ferreira, 2020).
This saves their cost of production of different products. Aston Martin is planning to expand
their business in new regions which can be possible with this strategy. They have advanced set of
luxury cars which many other countries also want to buy.
7
interacting with customer to foster connections among businesses and that of individual
consumers.
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.
Concept of strategic management involves various type of decision makings and planning so
that organisation can perform task in better manner (Valeri, 2021). It gives wider prospective to
the managers of organisation so that they can better coordinate and understand the situation ion
better manner. There is an application of various theories using examples and insights which are
discussed below:
Ansoff matrix
This matrix help Aston Martin in evaluating the risk of market in better manner which is
essential for the growth and expansion of business. This strategy includes four sections which are
discussed below:
Market penetration: In this strategy, marketers produce more of their existing products
to serve their existing market. This can be done by attracting new customer segments by lower
down the prices and increment of qualities. Aston Martin can use new marketing tools and
techniques so that they can capture large market share.
Product development: Organisations involve in manufacturing of new products and
services to sell them in existing market by invest capital in research and development. It help
Aston Martin in evaluating the more customers who can attract towards their products. They can
also use different resources which make innovative products according to the demand of new
market segment.
Market development: Under this strategy, organisations search for new market areas so
that they can offer their existing commodities (Barbosa, Castañeda-Ayarza and Ferreira, 2020).
This saves their cost of production of different products. Aston Martin is planning to expand
their business in new regions which can be possible with this strategy. They have advanced set of
luxury cars which many other countries also want to buy.
7
Diversification: Usually this strategy are used by start up or firms who operate on initial
level because it involves new commodities or products in new marketplace. Aston Martin is well
established brand so they generally do not opt this strategy as it is riskier than other strategies.
According to literature review, Aston Martin should use market development strategy
because their products are already very innovative which can attract customers in new
boundaries also. They can identify potential customers which the help of surveys or studies and
can expand their boundaries in international market in effective manner.
McKinsey’s Strategic Horizons model
It is growth strategy model which is used by organisations so expand their businesses by
inheriting new innovations in their products and services (Liu and Yang, 2021). Aston Martin
use this model for the future growth of their company in best possible manner. This model can be
discussed in context to Aston Martin as follows:
Horizon 1: This stage better work on short term projects as their results can be seen in
short period of time. Organisations can use this horizon 1 in their day to day operations so that
they evaluate changes on regular basis. This helps Aston Martin in regular growth and innovation
in products. It creates differences in their existing products by improving their internal processes.
Horizon 2: Innovations which fall under horizon 2 are slightly different from horizon 1
because they take longer time in showing the results. Aston Martin use this strategy when they
work on the projects which are very competitive in market and it involves processes,
technologies and capital. These functions which are carried on this stage are already used by
other competitors of Martin in global world.
Horizon 3: These innovations take longer time for the projects and shows results in
around 5-12 years (Agwu, 2018). Aston Martin innovate their products by using higher
technologies and huge capital investment so that they can gain competitive advantages. Entirely
new revenues, research projects and pilot programs are included in this horizon because it
requires heavy resources and capital.
This model help Aston Martin in bridging the intellectual gap by providing innovative
ideas and helping organisation in achieving their growth in effective manner. It takes businesses
to next level which help them in expansion by up grading their products and services so that they
can acquire large market share. These three frameworks are highly adoptable by Aston Martin as
they focus on the diverse sec tor for innovation and growth.
8
level because it involves new commodities or products in new marketplace. Aston Martin is well
established brand so they generally do not opt this strategy as it is riskier than other strategies.
According to literature review, Aston Martin should use market development strategy
because their products are already very innovative which can attract customers in new
boundaries also. They can identify potential customers which the help of surveys or studies and
can expand their boundaries in international market in effective manner.
McKinsey’s Strategic Horizons model
It is growth strategy model which is used by organisations so expand their businesses by
inheriting new innovations in their products and services (Liu and Yang, 2021). Aston Martin
use this model for the future growth of their company in best possible manner. This model can be
discussed in context to Aston Martin as follows:
Horizon 1: This stage better work on short term projects as their results can be seen in
short period of time. Organisations can use this horizon 1 in their day to day operations so that
they evaluate changes on regular basis. This helps Aston Martin in regular growth and innovation
in products. It creates differences in their existing products by improving their internal processes.
Horizon 2: Innovations which fall under horizon 2 are slightly different from horizon 1
because they take longer time in showing the results. Aston Martin use this strategy when they
work on the projects which are very competitive in market and it involves processes,
technologies and capital. These functions which are carried on this stage are already used by
other competitors of Martin in global world.
Horizon 3: These innovations take longer time for the projects and shows results in
around 5-12 years (Agwu, 2018). Aston Martin innovate their products by using higher
technologies and huge capital investment so that they can gain competitive advantages. Entirely
new revenues, research projects and pilot programs are included in this horizon because it
requires heavy resources and capital.
This model help Aston Martin in bridging the intellectual gap by providing innovative
ideas and helping organisation in achieving their growth in effective manner. It takes businesses
to next level which help them in expansion by up grading their products and services so that they
can acquire large market share. These three frameworks are highly adoptable by Aston Martin as
they focus on the diverse sec tor for innovation and growth.
8
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Value discipline
This model allows company in setting corporate visions and goals so that they can
capture the market area which provides them higher profits (Abd, Abbas and Khudair, 2019).
This strategic management model help managers of Aston Martin in differentiating their
operations from their competitors so that they can attain advantages in effective manner.
Strategic decisions can be carried out with the help of this model as it evaluates all the factors of
the organisation including their products. This model can be examined in context to Aston
Martin as follows:
Operational excellence: This states that organisations should meet the demands of
customers by focusing on their needs and wants. Aston Martin achieves advantages by delivering
their products on time and in convenient manner. It helps in cut down excessive cost so that they
can earn higher profits by maintaining quality of products. It majorly focus on the targeted
customers, efficiency of operations, tracking the speed and maintaining competitive prices in
market.
Customer intimacy: It refers to the segmenting and targeting markets in different
segments so that organisation can meet the demands of customers in effective manner. This
strategy helps in understanding the behaviour of customers so that Aston Martin can modify their
products according to that. It customizes products and enhance the quality so that it can capture
the market area according to different segments. This help Aston Martin in achieving trust and
loyalty of customers which build their brand image in market. Employees of company also
explain the features of cars to their customers so that they can maintain better understanding.
Product leadership: This strategy focus on the product quality and their continuous
innovation so that customers use them on regular basis (Ansoff and et.al., 2018). Managers of
Aston Martin focus on adding more values to their products and services which make them
luxury. It helps in differentiating their products from competitors in creative manner. They keep
on adding new features and experimenting in their products which help them in attracting more
customers and building their image on international platform.
According to the literature review, it is summarised that with the help of value discipline,
Aston Martin achieves more success and growth. They contribute efforts in spending time and
efforts in evaluating the market demand by dividing them in different sectors. It helps them in
maintaining good relation with their customers by offer quality products and services that satisfy
9
This model allows company in setting corporate visions and goals so that they can
capture the market area which provides them higher profits (Abd, Abbas and Khudair, 2019).
This strategic management model help managers of Aston Martin in differentiating their
operations from their competitors so that they can attain advantages in effective manner.
Strategic decisions can be carried out with the help of this model as it evaluates all the factors of
the organisation including their products. This model can be examined in context to Aston
Martin as follows:
Operational excellence: This states that organisations should meet the demands of
customers by focusing on their needs and wants. Aston Martin achieves advantages by delivering
their products on time and in convenient manner. It helps in cut down excessive cost so that they
can earn higher profits by maintaining quality of products. It majorly focus on the targeted
customers, efficiency of operations, tracking the speed and maintaining competitive prices in
market.
Customer intimacy: It refers to the segmenting and targeting markets in different
segments so that organisation can meet the demands of customers in effective manner. This
strategy helps in understanding the behaviour of customers so that Aston Martin can modify their
products according to that. It customizes products and enhance the quality so that it can capture
the market area according to different segments. This help Aston Martin in achieving trust and
loyalty of customers which build their brand image in market. Employees of company also
explain the features of cars to their customers so that they can maintain better understanding.
Product leadership: This strategy focus on the product quality and their continuous
innovation so that customers use them on regular basis (Ansoff and et.al., 2018). Managers of
Aston Martin focus on adding more values to their products and services which make them
luxury. It helps in differentiating their products from competitors in creative manner. They keep
on adding new features and experimenting in their products which help them in attracting more
customers and building their image on international platform.
According to the literature review, it is summarised that with the help of value discipline,
Aston Martin achieves more success and growth. They contribute efforts in spending time and
efforts in evaluating the market demand by dividing them in different sectors. It helps them in
maintaining good relation with their customers by offer quality products and services that satisfy
9
their demands. Aston Martin make alteration and innovate their products in order to meet the
current market trends. They target customers according to demographic and geographic regions
so that they can provide valuable benefits in effective manner.
A short concluding section drawing conclusions about the relevance of Strategic Management
theory in informing organisational strategy
Strategic management ensures that targets and objectives should be set in organisation so
that employees can perform operations according to that for achieving success. It helps in
evaluating risks and threats and provides solutions so that managers can frame guidelines to
overcome them. Identification of internal and external environmental factors are carried out with
the help of strategic management (Farrukh and et.al., 2021). It suggests Aston Martin what not to
do and what to do so that they can attain competitive advantages and make their products
different from other marketers. It helps in making creative ideas so that organisations can
innovate their products with the help of advanced technology. It predicts all the future
possibilities which can adopted by organisation easily in order to achieve goals. Various
competitive strategies are suggested by Strategic management so that managers of organisation
can implement them for evaluating the market segment. It provides opportunity to serve the
market according to the demands of targeted market so that company can build brand image. It
also establishes better communication and coordination in an organisation so that employees do
not face any difficulty in operations.
It provides effective tools and techniques so that managers can formulate plans and
procedures and take strategic decisions for the commencement of operations. Strategic
management suggest that how can company compete with their competitors and other marketers
in industry. All the primary and secondary activities are divided in the different sections so that
employee perform operations in successful manner. It help organisations in allocation of
resources in equal manner so that they can utilise them in effective and efficient manner. It
results in reduction of wastage and cut down of excessive cost from the day to day activities
which create great impact on the profitability of an organisation. It is concluded that strategic
management plays important role in informing organisational strategy.
Reflective assessment
To Understand the better learnings through the project, Gibb’s reflection model is used to
evaluate the situation in better which is as follows:
10
current market trends. They target customers according to demographic and geographic regions
so that they can provide valuable benefits in effective manner.
A short concluding section drawing conclusions about the relevance of Strategic Management
theory in informing organisational strategy
Strategic management ensures that targets and objectives should be set in organisation so
that employees can perform operations according to that for achieving success. It helps in
evaluating risks and threats and provides solutions so that managers can frame guidelines to
overcome them. Identification of internal and external environmental factors are carried out with
the help of strategic management (Farrukh and et.al., 2021). It suggests Aston Martin what not to
do and what to do so that they can attain competitive advantages and make their products
different from other marketers. It helps in making creative ideas so that organisations can
innovate their products with the help of advanced technology. It predicts all the future
possibilities which can adopted by organisation easily in order to achieve goals. Various
competitive strategies are suggested by Strategic management so that managers of organisation
can implement them for evaluating the market segment. It provides opportunity to serve the
market according to the demands of targeted market so that company can build brand image. It
also establishes better communication and coordination in an organisation so that employees do
not face any difficulty in operations.
It provides effective tools and techniques so that managers can formulate plans and
procedures and take strategic decisions for the commencement of operations. Strategic
management suggest that how can company compete with their competitors and other marketers
in industry. All the primary and secondary activities are divided in the different sections so that
employee perform operations in successful manner. It help organisations in allocation of
resources in equal manner so that they can utilise them in effective and efficient manner. It
results in reduction of wastage and cut down of excessive cost from the day to day activities
which create great impact on the profitability of an organisation. It is concluded that strategic
management plays important role in informing organisational strategy.
Reflective assessment
To Understand the better learnings through the project, Gibb’s reflection model is used to
evaluate the situation in better which is as follows:
10
Description: During the project, I have learned various things regarding dividing
tasks according the expertise of each and every individual. It helps us in completing
of project in effective manner within prescribed time. We have properly invested
time in research and development in the field of automation sector so that production
can be carried out in best possible manner.
Feelings: Initially I was very happy because of the division of work between all the
employees but later on I felt that this is not successful strategy which makes me sad.
But with the help of seniors, we have effectively completed our projects in Aston
Martin which gives me satisfaction.
Evaluation: Each individual worked very hard according to their expertise field to
accomplish the project prior to their deadlines (Newburry, Deephouse, and Gardberg,
2019). Managers of Aston Martin motivated us in good manner which help in
successful accomplishment of project. Due to some members of team, I face
difficulties because their behaviour was inappropriate and negative towards work.
Analysis: The idea of division of tasks results in better outcomes as it gives sense of
responsibility of each member. I have learned various aspects during the project
including teamwork, leadership and critical thinking which help me in my future
growth. I can make better decisions and planning in future to complete my all tasks
and activities.
Conclusions: From this project I have learned that each person should take
responsibility according to their expertise field. It saves lot of time and efforts and
complete task prior to their deadlines. It further enhances the skills and abilities
which boost morale and self-confidence.
Action plan: I will make sure that whenever I indulge in any project, I focus on my
time management skills so that I can meet the deadlines on time. I will use different
resources and work with different groups which will help me in enhancing this skill.
CONCLUSION
Strategic management helps in providing overall directions by formulating plans and
procedures so that proper allocation of resources can takes place. It helps organisation in obtain
various competitive advantages and achievement of goals in better manner. It identifies various
11
tasks according the expertise of each and every individual. It helps us in completing
of project in effective manner within prescribed time. We have properly invested
time in research and development in the field of automation sector so that production
can be carried out in best possible manner.
Feelings: Initially I was very happy because of the division of work between all the
employees but later on I felt that this is not successful strategy which makes me sad.
But with the help of seniors, we have effectively completed our projects in Aston
Martin which gives me satisfaction.
Evaluation: Each individual worked very hard according to their expertise field to
accomplish the project prior to their deadlines (Newburry, Deephouse, and Gardberg,
2019). Managers of Aston Martin motivated us in good manner which help in
successful accomplishment of project. Due to some members of team, I face
difficulties because their behaviour was inappropriate and negative towards work.
Analysis: The idea of division of tasks results in better outcomes as it gives sense of
responsibility of each member. I have learned various aspects during the project
including teamwork, leadership and critical thinking which help me in my future
growth. I can make better decisions and planning in future to complete my all tasks
and activities.
Conclusions: From this project I have learned that each person should take
responsibility according to their expertise field. It saves lot of time and efforts and
complete task prior to their deadlines. It further enhances the skills and abilities
which boost morale and self-confidence.
Action plan: I will make sure that whenever I indulge in any project, I focus on my
time management skills so that I can meet the deadlines on time. I will use different
resources and work with different groups which will help me in enhancing this skill.
CONCLUSION
Strategic management helps in providing overall directions by formulating plans and
procedures so that proper allocation of resources can takes place. It helps organisation in obtain
various competitive advantages and achievement of goals in better manner. It identifies various
11
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risk and opportunities so that managers of organisation can take actions to overcome and control
those risks. It tracks all the operations and keep eye on competitors so that they can not affect the
operations of organisation. The internal structure of organisation reassessed with the help of
strategic assessment so that managers can alter the function which need changes. This report
includes milestones of organisation in its development. Critical evaluation of relevant theoretical
concepts are carried out in this report. Application of theories are evaluated using examples so
that it can support the arguments. This report also includes short conclusion about relevance of
strategic management along with reflective assessment.
12
those risks. It tracks all the operations and keep eye on competitors so that they can not affect the
operations of organisation. The internal structure of organisation reassessed with the help of
strategic assessment so that managers can alter the function which need changes. This report
includes milestones of organisation in its development. Critical evaluation of relevant theoretical
concepts are carried out in this report. Application of theories are evaluated using examples so
that it can support the arguments. This report also includes short conclusion about relevance of
strategic management along with reflective assessment.
12
REFERENCES
Books and Journals
Abd, K.M.A., Abbas, S.A. and Khudair, A.H., 2019. Impact of strategic management practices
on organizational entrepreneurship: Mediating effect of strategic intelligence. Academy
of Strategic Management Journal, 18(4), pp.1-8.
Agostini, L., Galati, F. and Gastaldi, L., 2020. The digitalization of the innovation process:
Challenges and opportunities from a management perspective. European Journal of
Innovation Management.
Agwu, M.E., 2018. Analysis of the impact of strategic management on the business performance
of SMEs in Nigeria. Academy of Strategic Management Journal, 17(1), pp.1-20.
Angiola, N., Bianchi, P. and Damato, L., 2019. How to improve performance of public
universities? A strategic management approach. Public Administration Quarterly. 43(3).
pp.372-400.
Ansoff and et.al., 2018. Implanting strategic management. Springer.
Barbosa, M., Castañeda-Ayarza, J.A. and Ferreira, D.H.L., 2020. Sustainable strategic
management (GES): Sustainability in small business. Journal of Cleaner Production, 258,
p.120880.
Bodrunov, S. and Plotnikov, V. A., 2019. Strategic aspects of national socio-economic
development. In International Business Information Management Association
(IBIMA) (pp. 4916-4922).
Bril, H., Kell, G. and Rasche, A. eds., 2020. Sustainable investing: a path to a new horizon.
Routledge.
Farrukh and et.al., 2021. Three decades of research in the technology analysis & strategic
management: a bibliometrics analysis. Technology Analysis & Strategic
Management, 33(9), pp.989-1005.
Jethwani, K. and Ramchandani, K., 2021. Odds & Edge: on the edge. Emerald Emerging
Markets Case Studies.
Keding, C., 2021. Understanding the interplay of artificial intelligence and strategic
management: four decades of research in review. Management Review Quarterly, 71(1),
pp.91-134.
Leiblein, M. J., Reuer, J. J. and Zenger, T., 2018. What makes a decision strategic?. Strategy
Science. 3(4). pp.558-573.
Liu, C. and Yang, J., 2021. How hotels adjust technology-based strategy to respond to COVID-
19 and gain competitive productivity (CP): strategic management process and dynamic
capabilities. International Journal of Contemporary Hospitality Management.
Lukiyanova, M. N., Zayarnaya, I. A. and Kadyrov, M. A., 2018. Introduction of the" 3-p" model
in the concept of strategic management of municipal entities. Public Policy and
Administration. 17(4). pp.586-599.
Makadok, R., Burton, R. and Barney, J., 2018. A practical guide for making theory contributions
in strategic management. Strategic Management Journal, 39(6), pp.1530-1545.
Newburry, W., Deephouse, D.L. and Gardberg, N.A., 2019. Global aspects of reputation and
strategic management. Emerald Publishing Limited.
Siddiqui, M. A. M. and Farooq, A., 2022. Ergonomics and Its Contribution to Strategic
Management. In Ergonomics for Improved Productivity (pp. 229-234). Springer.
13
Books and Journals
Abd, K.M.A., Abbas, S.A. and Khudair, A.H., 2019. Impact of strategic management practices
on organizational entrepreneurship: Mediating effect of strategic intelligence. Academy
of Strategic Management Journal, 18(4), pp.1-8.
Agostini, L., Galati, F. and Gastaldi, L., 2020. The digitalization of the innovation process:
Challenges and opportunities from a management perspective. European Journal of
Innovation Management.
Agwu, M.E., 2018. Analysis of the impact of strategic management on the business performance
of SMEs in Nigeria. Academy of Strategic Management Journal, 17(1), pp.1-20.
Angiola, N., Bianchi, P. and Damato, L., 2019. How to improve performance of public
universities? A strategic management approach. Public Administration Quarterly. 43(3).
pp.372-400.
Ansoff and et.al., 2018. Implanting strategic management. Springer.
Barbosa, M., Castañeda-Ayarza, J.A. and Ferreira, D.H.L., 2020. Sustainable strategic
management (GES): Sustainability in small business. Journal of Cleaner Production, 258,
p.120880.
Bodrunov, S. and Plotnikov, V. A., 2019. Strategic aspects of national socio-economic
development. In International Business Information Management Association
(IBIMA) (pp. 4916-4922).
Bril, H., Kell, G. and Rasche, A. eds., 2020. Sustainable investing: a path to a new horizon.
Routledge.
Farrukh and et.al., 2021. Three decades of research in the technology analysis & strategic
management: a bibliometrics analysis. Technology Analysis & Strategic
Management, 33(9), pp.989-1005.
Jethwani, K. and Ramchandani, K., 2021. Odds & Edge: on the edge. Emerald Emerging
Markets Case Studies.
Keding, C., 2021. Understanding the interplay of artificial intelligence and strategic
management: four decades of research in review. Management Review Quarterly, 71(1),
pp.91-134.
Leiblein, M. J., Reuer, J. J. and Zenger, T., 2018. What makes a decision strategic?. Strategy
Science. 3(4). pp.558-573.
Liu, C. and Yang, J., 2021. How hotels adjust technology-based strategy to respond to COVID-
19 and gain competitive productivity (CP): strategic management process and dynamic
capabilities. International Journal of Contemporary Hospitality Management.
Lukiyanova, M. N., Zayarnaya, I. A. and Kadyrov, M. A., 2018. Introduction of the" 3-p" model
in the concept of strategic management of municipal entities. Public Policy and
Administration. 17(4). pp.586-599.
Makadok, R., Burton, R. and Barney, J., 2018. A practical guide for making theory contributions
in strategic management. Strategic Management Journal, 39(6), pp.1530-1545.
Newburry, W., Deephouse, D.L. and Gardberg, N.A., 2019. Global aspects of reputation and
strategic management. Emerald Publishing Limited.
Siddiqui, M. A. M. and Farooq, A., 2022. Ergonomics and Its Contribution to Strategic
Management. In Ergonomics for Improved Productivity (pp. 229-234). Springer.
13
Valeri, M., 2021. Organizational Studies: Implications for the Strategic Management. Springer
Nature.
Online:
Challenge faced by Aston Martin. 2022. [Online]. Available through:
https://www.sitecore.com/customers/manufacturing/aston-martin-lagonda-ultimate-
experience-award-winner-2021
Wright. T. 2022. Best Strategy Frameworks for your Organization. [Online]. Available through:
< https://www.cascade.app/blog/best-strategy-frameworks>
14
Nature.
Online:
Challenge faced by Aston Martin. 2022. [Online]. Available through:
https://www.sitecore.com/customers/manufacturing/aston-martin-lagonda-ultimate-
experience-award-winner-2021
Wright. T. 2022. Best Strategy Frameworks for your Organization. [Online]. Available through:
< https://www.cascade.app/blog/best-strategy-frameworks>
14
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APPENDICES
Your Name: Click or tap here to enter text. Student ID # Click or tap here to enter text.
What organisation are you
planning to use in your MBA7013
Strategic Management written
project.
Aston martin
What connection (if any) do you
have with this organisation (e.g.
currently employed, previously
employed, seeking employment
there, no direct connection)?
Seeking employment
What are your reasons for
selecting this organisation for this
project?
It provides higher quality vehicle and
they possess high brand value.
15
Your Name: Click or tap here to enter text. Student ID # Click or tap here to enter text.
What organisation are you
planning to use in your MBA7013
Strategic Management written
project.
Aston martin
What connection (if any) do you
have with this organisation (e.g.
currently employed, previously
employed, seeking employment
there, no direct connection)?
Seeking employment
What are your reasons for
selecting this organisation for this
project?
It provides higher quality vehicle and
they possess high brand value.
15
16
1 out of 18
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