BM627: Innovation Capabilities Action Plan for Aston Martin

This report analyzes innovation management at Aston Martin, focusing on developing and implementing innovation capabilities. It assesses the future of the automotive industry, highlighting drivers of innovation such as market-pull, consumer demand, smart devices, and environmental changes. The report uses the Pentathlon framework to evaluate Aston Martin's strategy, ideas, selection, and implementation processes, emphasizing the importance of physical, financial, human, and intellectual resources. A VRIO analysis assesses the company's strategic capabilities, focusing on value, rarity, imitability, and organization. The report also covers change management, leadership, and organizational culture. Desklib offers students access to this report along with a variety of study tools, including past papers and solved assignments.

Managing Innovation in
Business
Executive summary
The report explains about the efficiency of the organisational innovation and how it will depend
upon several factors like that of employees as well as cultural implementation that are a part of
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bringing about innovative ideas to derive the business probability. The automotive industry that
is being involved in this particular report will deal with several years that are oriented where
change in behavior as well as the altering of measures that are oriented into Innovation and
prospects. The technological implementations are those that will bring in innovation into
existence and the electronic prospects will contribute for the environmental factors that are
eventually being dealt by the company. The key findings include analysis of two factors that are
in regard to organisational upliftment that can be managed upon innovation criteria. Leadership
activities that are brought forth with respect to Aston martin created a value and also there is a
name for generating higher profit in to inbound logistics and several operations.
Table of Contents
INTRODUCTION...........................................................................................................................4
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THE FUTURE OF THE INDUSTRY 2020 AND BEYOND.........................................................4
Drivers of innovation...................................................................................................................4
THE ORGANISATIONS INNOVATION REQUIREMENTS 2020 AND BEYOND..................6
Pentathlon framework..................................................................................................................6
BUILDING THE FUTURE INNOVATION CAPABILITIES FOR THE ORGANISATION......8
Engagement with stakeholders....................................................................................................8
Knowledge transfer......................................................................................................................8
Change management issues and strategies..................................................................................9
Strategic capability....................................................................................................................10
Organisational Culture, Climate, Leadership and culture.........................................................10
CONCLUSION..............................................................................................................................11
REFERENCES ..............................................................................................................................
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INTRODUCTION
Innovation management is regarded to be one of the criteria in Aston Martin that would deal with
the different processes that will also bring about the Change management in the company. There
are certain products as well as the processes that are to be described as a part of business
orientation and the organizational innovation in this regard will stand as an entity that will create
the growth prospect that is necessary for Aston Martin to move ahead (Haefner and et.al, 2021).
The report explains about the efficiency of the organizational innovation and how it will depend
upon several factors like that of employees as well as cultural implementation that are a part of
bringing about innovative ideas to derive the business probability. The company that is more
than in this regard is Aston Martin. Aston Martin company is an Automotive company that
operates with respect to the design of luxury sports cars and global automatic brands. The
Different techniques that are involved in bringing about the prototype that are essential for the
innovation and the concepts are explain in this report.
THE FUTURE OF THE INDUSTRY 2021 AND BEYOND
The automotive industry that is being involved in this particular report will deal with several
years that are oriented where change in behavior as well as the altering of measures that are
oriented into Innovation and prospects. There are several traditional business objectives that are
brought forth in order to deal with the vehicles as well as the techniques that are into making sure
that the organisations could deal with the mobility with maintaining sustainability. The future of
this particular industry is said to be very promising because there is a heavy competition as well
as technological implementation that are taking part in and around the world that would bring
about an entire advancement in the innovation perspectives (Frishammar and et.al, 2019). Aston
Martin company is in the age of development and the operations that are into bringing about all
the automatic ideas are on track and the several Business models that are included will also
derive the advantages that are oriented with the Trends that are underlying. The economy of the
entire organisation will eventually see a rise in the graph with respect to the coming future as
well as the beyond it because there is a usage of cars and the manufacturing of cars with respect
to taking into existence the future mobility.
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Drivers of innovation
Market-pull: This can also be one of the important factors to stress upon because it is not until
then there are several models as well as designs that are incorporated that a progress can be
guaranteed.
In this regard the automotive industry is in the process of learning and also developing several
ideas as well as the ideologies that are into bringing about the terms into existence. There are
means of evaluating approaches such that the business data that is oriented with innovation will
have to implied with the fact that the different sources of information are all brought forth to
make sure that future is promised.
Consumer demand: The appropriate methodologies that are put forth in order to understand the
formulations are all connected to the car’s sensors electrification and the business models that are
a demand from consumers in this regard will also deal with the existing operations and
profitability. The innovation is never ending phenomena and therefore every person in the world
is aware of the new implementations as well as the qualities and features that are brought forth.
This has brought about a capability in order to aim for success where customer centricity is also
one of the prominent factor in order to connect for (Haefner and et.al, 2021).
Smart devices: The mobility of services will also increase as a part of future authenticity where
an integrated and convenient driven services will be gratified (Nambisan and et.al, 2017). While
connecting to the car as well as the you said that is oriented with the supply chain that will be
smart supply chains that can be established with respect to seeing a success graph in future. The
organisational workforce will turn into and engaging prospect and that will also deal with the
significant changes as well as challenges that are pertaining in the world (Haefner and et.al,
2021).
Environmental changes: The changing customer demands are to be identified and will have to be
evaluated because it is not until when the customer perception is understood that the
organisations can move ahead in terms of innovation as well as bringing about the ideas into
existence. The employees in this regard are the major target because every future of the
organisation is entirely dependent upon how far the employees are being able to contribute to the
best of their ability in order to deal with the business demands. With an urge of development
employees as well as the skilled workforce that are there in the organisation would deal with the
challenges in a more appropriate way and that is when the industry would see a new level of
approach. While targeting the near future the organisation would eventually deal with the set of
strategies that will highlight the prominence of innovation with the planned approach. Since
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planning is limitless and employees in this regard are made prominent therefore the talent
management is also Foster (Guertler and et.al, 2020). This will help the organisations as well as
the industry to stay effective with the wide range of innovative mechanism that are implemented.
Several workforce practices were also brought forth in order to deal with the challenges that are
pertaining as well as the techniques to retain employees by designing their career path.
Automotive industry is not just a probability to deal with the manufacture of cars but also a
vision that is oriented with future development. Since the standard are increasing on a day to day
basis therefore there is a lot of scope for this particular industry in order to get through all the
hardships and derive the best out of the lot (Haefner and et.al, 2021).
THE ORGANISATIONS INNOVATION REQUIREMENTS 2020 AND
BEYOND
There is a greater amount of innovation that is brought forth with respect to the automotive
industry. There are various business ranges as well as practices that are oriented in bringing
about the designing development and manufacturing processes along with the addition of
promotion. In this regard Aston Martin company is known to be one of those luxury car
manufacturers where it will also deal with the prestigious heritage to bring about the inspiring
innovations into existence (Nechaev, 2017).
Pentathlon framework
Strategy: this will bring in measures of deriving strategic orientation. While dealing with the
innovation criteria with respect to the organisation it is always necessary to determine the path
with the company has travelled. There is a significant transformation with respect to innovation
criteria in the organisational history with respect to the couple of years. Aston martin stood as
one of the iconic practices in dealing with the fundamentals as well as the organisational norms
that are put forth with respect to identifying the radical strategies that are also important in the
current system (Aslam and et.al, 2020).
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Ideas: With an aim to bring about the best out of many cars manufacturing units Aston Martin
has the brought about the variable designs that are unique and are also vintage type. The different
innovations of the pertaining with respect to Products include those of Aston Martin Vulcan,
Aston Martin V8, Aston Martin V12 Zagato, Aston Martin one-77 and many others that would
bring in the prominence of its innovation capabilities (Al Suwaidi and et.al, 2020).
There are a lot of financial implications yet it was one of those companies which has changed its
mission and objectives to derive innovation as its business objective (Aslam and et.al, 2020).
Selection: the Aston Martin company has got a product personalization in which its major
innovation in the product the iconic luxury British sports car is one among the lot that made it
viable. It has developed astonishing features that made it win over the speculations and brought
about a perfect personalization with extravagant features.
Implementation: As a part of implementation Aston Martin strive ahead with the prominence of
understanding the team and their ideologies with brainstorming sessions. The company derives
training sessions and will bring in the intrinsic motivation that is necessary for the innovation to
enhance (Al Suwaidi and et.al, 2020).
The different sorts of resources that are included are as follows:
Physical resources: open the tangible assets that will bring about a value proposition to the
organisational entity (Niewöhner and et.al, 2019). For an innovation to move ahead with
progress results it is necessary to deal with the physical resources on a permanent basis.
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Financial resources: the financial resources are important in order to make sure that the
credibility is obeying attend. Aston martin company in this regard will deal with the 611 million
euros as a part of allocating its financial resources (Kurmanov and et.al, 2019).
Human resources: it is necessary to orient with the human resources criteria such that the
employees will probably be managed at work. In this regard the skill that is offer key basis is
also brought forth with respect to the capacity of organisation (Kurmanov and et.al, 2019).
Intellectual capital: in order to not let the organisational acquaintance go in vain the organisation
usually deals with intellectual capital such that the patents that are on the brand as well as cars
are made significant (Kurmanov and et.al, 2019).
Strategic capability
The strategic capability of the organisation is a brought forth with respect to the competitive
benefits that are oriented with different frameworks. The one that is brought forth in order to
explain the strategic capability of Aston martin company is VRIO analysis:
Valuable: the prominence of every innovation will eventually deal with the capability of the
organisation with respect to how far it is being able to tackle with the threats that are pertaining
in the industry. Aston martin is said to be moving ahead with a valuable research and
development criteria that will help to attain a competitive edge (Didonet and Diaz-Villavicencio,
2020).
Rare: there are certain of business capability that will have to be acquired as a part of work
distribution and therefore the human resources of Aston martin will eventually deal with the
sessions which are identified to be rare (Noktehdan and et.al, 2019).
Imitable: the capability of the organisation are sometimes made imitable in order to make sure
that there are no complexities that have brought forth with respect to the distribution of networks
(Noktehdan and et.al, 2019).
. Organised: Aston martin company organises it capability is as a part of coordinating the
practices which are into deriving values (Frishammar and et.al, 2019).
BUILDING THE FUTURE INNOVATION CAPABILITIES FOR THE
ORGANISATION
Engagement with stakeholders
The innovation capabilities are dependent upon half of the strategies are being implemented and
are also digitalized with involving stakeholders. There are several of factors that are contributing
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for the organisation in terms of moving ahead with respect to the scientific research that will
bring in the normative capacity and can also strengthen the prospective of the organisation.
Stakeholders are the essentials of the organization since they derive the values by being a part of
the company’s efficiency. The biggest stakeholder of Aston Martin is Ford. Ford has become the
company’s stakeholder in the 1990s and is known to be one of the superficial supports to Aston
Martin (Afuah, 2020). The company Ford is known to be a prosperous support and executive
ability to the company by letting it step ahead with the strategies that are unique and worth
cherishing. There are several challenges that are being faced by the organization Aston martin
with respect to the organization Ford that has been the stakeholder. The biggest challenge is to
survive the competitive atmosphere that is brought forth with respect to the company’s
challenges.
Knowledge Transfer
The knowledge activities that are at present taking place in the company include:
Training: the sense of positivity is enthralled by the means of adhering the fact that is essential to
recognize the work of people.
Brainstorming: through this session the organisation brings in the talent that is in the midst of
employees. This helps to bring in the innovative ideas that are required.
Change management issues and strategies
The change management is in regard to the company’s evaluation will first have to be identified
in order to move ahead with the innovation management (Niewöhner and et.al, 2019). Resources
are necessary in order to deal with the effects that are a part of the value that is generated by the
equipment which is into proper work function.
Lewin’s 3 steps model
Unfreeze: through this Aston Martin shows the possibilities it will have to go through in order to
depict the innovative choices.
Change: In this stage it will ensure to bring in the aspect of change that can thrive in the required
force which is essential for innovation to come along.
Refreeze: the changes that are encountered will now be refreeze and will therefore adapt to the
entity of getting objectified.
Strategy to resist change:
The strategy that is put forth in order to resist change is training and communication. Aston
Martin in this regard is mostly towards putting its faith in the policy of training and maintaining
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a good communication that is essential for the organization to keep up their staff. The
communication that they are willing to put forth include the strategies that are into innovation
and letting people understand the most appropriate policies that are to be sorted and are to be
made prominent.
Organisational Culture, Climate, Leadership and culture
The organisational framework is one of the prominent frameworks that will highlight the
different activities that are to be coordinated with respect to the business and improvements that
are oriented. As a part of analysis there are two factors that are in regard to organisational
upliftment that can be managed upon innovation criteria. Leadership activities that are brought
forth with respect to Aston martin created a value and also there is a name for generating higher
profit in to inbound logistics and several operations (Noktehdan and et.al, 2019). These primary
activities are the ones that are driving innovation as its major aim. The carpeting activities in this
regard will often deal with the effective and efficient measures that are into Aston martin
company. The culture will bring in certain establishments that will have to be made in order to
account for primary activities and that can also bring about by the technological development
and enhancement which can help the organisation to stay in the competition. This culture will
eventually bring in lot more opportunities to Aston Martin and it gets to secure a scope of
developing internationally.
Great man theory of leadership:
The company Aston Martin is known for its extravagnece and coming to the leadership theories
that it deals with will often include the prominence of letting the crew stay confined to several
factors. The leadership theory that is mostly applicable to Aston Martin is the Great man Theory
of leadership. According to this particular theory in the organisation Aston Martin, there are few
traits that are to be followed which will help the employees to get through the circumstances
(Noktehdan and et.al, 2019). These traits that are often reflected in the context of Aston Martin
are charisma, intellect, confidence and communication skills which are mostly possessed by the
leaders or managers of the organisation. The advantage of this particular theory of leadership is
that it will let the employees stay in the right path by maintaining the prominence of the
perpetual formulations which will help the organisation to stand firm with innovations. The
future that is associated with this theory of leadership is that it will shape the organisation to
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stand in the midst of organisational opportunities as well as challenges that are essential for its
growth prospect.
CONCLUSION
The entire report concludes upon highlighting the prominence of innovation and Management.
Through this report one can easily understand the prominence of innovation that is being
highlighted in the automotive company that is being chosen. As a part of the organisational entity
the automotive industry as well as the future that is associated with automotive industry is said to
be one of the impeccable orientations that is being explained in this report. the future after the
organisation has the dealt with 2020 with respect to the pandemic is also one of the criteria that is
being discussed in this report will stop throughout the report there are certain profitable entities
that are brought forth to make sure that the methodologies which are appropriate in deriving the
framework of the organisation will eventually see a success graph in future. The different
requirements of the organisations innovation in 2020 as well as beyond are being put forth in this
report. How far the organisation has the stood as one of the entity in dealing with the iconic
practices that are fundamental and also brought forth with respect to the current system of radical
strategies is being explained in this report. The different innovations letter for attending with
respect to organisation Aston Martin are also explain. This set of organisational strategies that
are brought forth with respect to pastel and porter's five forces are made from an attempt to
explain the innovation management in the organisation. The future innovation capabilities that
are into organisational derivation are being explain with respect to the company by measuring all
the advantages and implementations that are brought forth. Development and enhancement are
explained throughout.
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REFERENCES
Books and journals
Afuah, 2020. Innovation management-strategies, implementation, and profits.
Al Suwaidi and et.al, 2020, October. The impact of innovation management in SMEs
performance:
a systematic review. In International Conference on Advanced Intelligent Systems and
Informatics (pp. 720-730). Springer, Cham.
Aslam and et.al, 2020. Innovation in the era of IoT and industry 5.0: absolute innovation
management (AIM) framework. Information. 11(2). p.124.
Didonet and Diaz-Villavicencio, 2020. Innovation management in market-oriented SMEs:
learning and internal arrangements for innovation. International Journal of Organizational
Analysis.
Frishammar and et.al, 2019. Opportunities and challenges in the new innovation landscape:
Implications for innovation auditing and innovation management. European Management
Journal. 37(2). pp.151-164.
Guertler and et.al, 2020. Encouraging and enabling action research in innovation management.
R&D Management. 50(3). pp.380-395.
Haefner and et.al, 2021. Artificial intelligence and innovation management: A review,
framework, and research agenda✰. Technological Forecasting and Social Change. 162.
p.120392.
Kurmanov and et.al, 2019. Analysis of the efficiency of innovation management in the countries
of the Eurasian Economic Union. Polish Journal of Management Studies. 19.
Nambisan and et.al, 2017. Digital Innovation Management: Reinventing innovation management
research in a digital world. MIS quarterly. 41(1).
Nechaev, 2017, September. Innovation management characteristics of industrial enterprises. In
2017 International Conference" Quality Management, Transport and Information Security,
Information Technologies"(IT&QM&IS) (pp. 556-559). IEEE.
Niewöhner and et.al, 2019. Design fields of agile innovation management in small and medium
sized enterprises. Procedia CIRP. 84. pp.826-831.
Noktehdan and et.al, 2019. Innovation management and construction phases in infrastructure
projects. Journal of Construction Engineering and Management. 145(2). p.04018135. Online
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Managing innovation: [Online]. Available through: < What is Innovation Management?
Definition, examples & more | toolshero>
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