Business Strategy & Entrepreneurship Report: Aston Martin Analysis

This report offers a comprehensive analysis of Aston Martin's business strategy and entrepreneurial practices. It begins by examining the role of organizational values, mission, vision, goals, and competencies in strategy formulation, emphasizing their importance in achieving long-term objectives. The report then delves into strategic planning, considering factors like stakeholder analysis and external environment scanning using the PESTEL technique. It explores brainstorming techniques for product innovation and assesses the strengths and weaknesses of Aston Martin's products. Furthermore, it examines market research for new markets, segmentation, and the application of Porter's five forces model. The report also covers business proposal development, effective communication in business pitches, and the evaluation of pitch success. It concludes by analyzing the organization's strategic position, conducting an environmental audit, and assessing stakeholder analysis to formulate new strategies. The implementation of the strategy, including the roles of managers and employees, is also evaluated, along with SMART objectives for monitoring progress, providing a holistic view of Aston Martin's strategic approach.

Business Strategy &
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Role of organisational values in strategy formulation..........................................................1
1.2 Factors to be considered in strategic planning and monitoring.............................................2
TASK 2............................................................................................................................................3
1.1 Brainstorming technique.......................................................................................................3
1.2 Strength and weakness of product.........................................................................................4
1.3 Market research for proposed new market............................................................................5
TASK 3...........................................................................................................................................5
2.1&2.2 Analyse environment and select target market using segmentation.............................5
2.3 Porter's five force model of Aston Martin.............................................................................6
2.4 Business proposal document.................................................................................................7
3.1 Business Pitch for products and services..............................................................................8
3.2 Communicate effectively......................................................................................................9
3.3 Evaluate success of Pitch in meeting business objectives..................................................10
TASK 4..........................................................................................................................................10
2.1 Organisation strategic position............................................................................................10
2.2 Environmental audit............................................................................................................12
2.3 Stakeholder analysis............................................................................................................13
2.4 New strategy for an business entity....................................................................................14
TASK 5..........................................................................................................................................14
3.1 Roles of managers and employees in implementing new strategy.....................................14
3.2 Evaluate and SMART objectives to monitor progress........................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Business strategy refers to management or administration of art as well as science which
assist in formulating, implementing as well as analysing decision which are made by higher
authorities so that employers can attain their long term goals and objectives. When staff
members using appropriate strategy then this will help in improving consumer experience so that
they can find true value and also expand overall experience of buyers (Ackermann and
Audretsch, 2013). For promoting products and services they can use digital marketing along with
the different promotional channel so that proper fragmentation can be done in a proper manner.
Entrepreneur refers to person who run small business and for improving success in market they
have to take more risk and reward so that they can generate more revenue. Entrepreneur is an
individual who uses innovative ideas and business processes so that they can do developments or
improvements in a business which will aid in attaining targets which are decided by higher
authorities. Present report is based on Aston martin which is a British manufacturer of luxury
sports cars and company having a good revenue that is £593.5 million (Business Strategy &
Consulting, 2017). In below mentioned assignment, discussion on role of organisational values,
mission, vision, goals as well as competencies in strategy formulation. Further, different
brainstorming techniques has to be discussed which assist them in generating more and more
products and according to that business entity can increase sales and generate or earn more
revenue. Along with this proper analysis of market should be done by using different techniques.
TASK 1
1.1 Role of organisational values in strategy formulation
Organisation values are those basic principles on which the cited company works on.
Whatever happens they do not get deviated from their belief and work towards achieving the
goals by maintaining the same values. It is being analysed from various experiences that
company that has a significant statement of mission or vision are successful in achieving the
objective. Mission or purpose can be use as a synonym for each other and for every enterprise
the ultimate goal is to achieve the same with the given resources (Acquaah, 2013). Mission
statement of Aston Martin is to simply be the best in every area of our business. It will helps in
accomplishing the most exceptional consumer experience so that they can provide strong support
our community. It is because through this system it becomes clear for all the employees that
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what they are expected to do and how they have to perform their duty with the given resources.
When the working staff is aware about their organisation goals they stay focused and work
towards the same. Once when the vision is set workers get the knowledge of what to follow from
the various options available as the reason behind the existence is defined through this system
(Alsudiri, Al-Karaghouli and Eldabi, 2013). Management may also recognise the different
worker who are not working with the flow of business as through the process of setting
organisation vision company can evaluate easily that who all do not wish to follow the provided
guidelines. Another benefit of this practice is it helps in translating the desired goals into action
as organisation than follows a set structure which is tested to give the wanted outcomes. Lastly,
the working staff gets the philosophy of their presence which is very important because as
human beings, everyone needs meaning from their work done and the vision and mission
statements gives them a sense and meaningful reason to work with an organisation.
1.2 Factors to be considered in strategic planning and monitoring
In Aston Martin, there are different factors which are to be considered in the strategic
planning as well as monitoring. There are distinctive factors which provide proper guidance so
that they can improve profitability and productivity. Factors are:
 They have to make proper vision and mission statement for a long term and according to
that they have to make their objectives (Armstrong and et. al., 2015).
 They should identify and analyse stakeholders which having a influence their business.
Stakeholders include management. Shareholders, employees, suppliers and so on.
 They have to do scanning on their external environment which assist in identifying and
analysing strength and weakness.
 They have to analyse their external environment by using PESTEL techniques which
helps in identifying the impact on business (Barberá and et.al., 2012).
 After that they have to define their competitive advantage so that they can assess their
forms to their business goals and should be in a specific time. This will helps in
maintaining their unique position in the competitive market.
 They have to prepare their SMART objectives so that they can assess their business goals
and then they have to do formulation in a specific time period (Bentley, Omer and Sharp,
2013).
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 Manager and employees of Aston Martin have to maintain their account for personal as
well as business goals. Personal goals represent individual objectives which is related to
management as well as other members who are involved in the business. There are
different goals which includes earning money, contributing to community. Along with
the development of professional skills. They have to set their business goals which assist
their business in attaining their personal goals (Bharadwaj and et. al., 2013).
 Last step is to determine their action steps and for that they have to make their strategies
in achieving their goals and objectives as well as have to fulfil their business purpose as
well as they have to satisfy long term aspirations.
TASK 2
1.1 Brainstorming technique
These can be viable conceptualizing apparatuses for a few reasons:
 The general distributions contain articles around a few businesses, which is useful for
conceptualizing new thoughts that can apply to your own industry.
 Advertising methods and methodologies examined in the diaries can enable you to
conceptualize new showcasing thoughts of your own (Blackburn, Hart and Wainwright,
2013).
 In distributions, for example, the Wall Street Journal, the editors incorporate a blend of
short articles (useful for conceptualizing thoughts in view of what others are doing) and
inside and out reports (useful for conceptualizing new item advancement techniques that
develop from patterns).
 By skimming an assortment of business related articles (news articles, highlights, human
intrigue, and investigative pieces) you widen your thought base, which brings about more
new item thoughts (Dey and Sircar, 2012).
There are different steps which helps in generating or innovating new products and
services:
Each association need to dispatch crisp products in general interim of time since taste and
inclination of clients are evolving quickly. The vast majority of the organizations receive
conceptualizing procedures so they can present new merchandise in market. The following is the
way toward conceptualizing:
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Thought screening – An undertaking can request that their representatives share their
considerations around a thought. They have better comprehension about the assignment which
they are doing on regular schedule so their recommendation will give incredible help with
advancement of new item (Galpin and Lee Whittington, 2012). They can likewise take offer
assistance of a few specialists, this will include some cost however toward the end organization
may get smart thoughts. In procedure of screening, firm needs to check whether new
considerations will bolster in accomplishing hierarchical destinations. On the off chance that idea
can not be changed over into reality than they ought to kill it in the initial step. Organization
should take perspectives of outside sources like clients, providers and so on in light of the fact
that they have better learning of market what's more, potential clients. Aston Martin will dispatch
new icy drink in their natural nourishment area. Before presenting it in marketing, they ought to
counsel with their representatives and other individuals who are identified with this item either
straightforwardly or in a roundabout way (Grover and Kohli, 2013).
Improvement of idea and its testing – They need to build up a equation with a specific
end goal to make it top notch and sound. They need to do different sort of inquiries so they can
convey better product in showcase. After development of right equation, they should move their
emphasis on testing. Subsequent to getting endorsement from specialists they a begin its large
scale manufacturing.
1.2 Strength and weakness of product
Aston Martin having a segments in the different sectors which includes luxury cars or
sports cars. They are having a targeted group towards the elite class of affluent consumers. They
have to to proper positioning as a company which delivers or offer the value to the consumers for
different years by the unmatchable performance as well as exclusive luxury (Haley and Haley,
2013).
The main strength of Aston martin is that they are having a high brand equity as well as
strong legacy. Company having a strong designing team which prepare best designs. They
provide ultimate luxury as well as comfort to their consumers. Company having a rich historical
heritage along with the values which leads to strong consumer connect so that targets can be
attained. Business entity having a cutting edge as well as innovative technological features. They
are having a strong presence in the racing as well as motor sports events. Aston martin having a
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strong marketing team as well as branding through advertising so that they can attain their goals
and objectives (Helms and Whitesell, 2013).
The main weakness of Aston martin is that they are having a less market penetration.
Along with this business entity having a limited product portfolio in the emerging economies.
(Source: SWOT analysis of Aston Martin, 2017)
In Aston Martin, they are make new design for launching new product and for that they
have to make proper plans so that they cannot face any issue in generating more profits. Manager
of the firm have to use appropriate procedure as well as strategies so that targets can be attained
(Hoejmose, Brammer and Millington, 2013). They have to do market research which will help in
identifying and analysing needs and wants of consumer so that they can fulfil their demands and
also provide proper satisfaction to their consumers which will assist in attaining their goals and
objectives. Along with this it helps in improving their brand image in the competitive market.
1.3 Market research for proposed new market
The research of product provide information of the desired features of a product or
services. The product research helps companies to evaluate the customers actual wants, and fulfil
them with their expectation (Jocovic and et. al., 2014).
SWOT Analysis of Aston martin:
 Strength(S)- The company have high brand equity and strong legacy. It has strong
market presence. They done strong marketing and branding through promotions and
advertisement.
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Illustration 1: SWOT analysis of Aston Martin

 Weakness(W)- The industry cover less market which decreases their income. In
emerging economic, they have limited product portfolio. They have old technology,
which is weak in evaluation and computation.
 Opportunities(O)- The company can expand their business in other areas. They attract
more consumers by lower price rate and enhance the availability of product and services.
The market penetration are increase by extensive distribution and more promotions
(Johnson and et. al., 2013).
 Threat(T)- The competitors are those who sale same brands product in lesser rate and
they are the main threat for the industry. The company increases fuel cost which reduce
the number of customers.
Growth of Aston Martin
The revenue and profit of Aston martin rise in this year. The income climbed to 593.5 million in
2016 as compare to the last year. In the three months to 31 December 2016, its market share are
90%. They can evaluate their profit by the checking of balance sheet and financial position of the
business. In this year, the company invested 192 million in development of product which
increase their profit.
Competitors of Aston martin
1. Bentley Continental GT
2. Mercedes -AMG SL63/65
3. Porsche Panamera
4. Lexus LC500
5. Jaguar F-Type SVR
6. Ferrari California T
7. Maserati Gran Turismo
TASK 3
2.1&2.2 Analyse environment and select target market using segmentation
The market segmentation is process in which company divide the market into different
category such as age, standard of living, gender and class. The company create segmentation of
composed consumers who respond similar marketing strategy and who share traits such as
similar need, location and interest. The market can be segmented into types:
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 Geographic segmentation- This is one of the important basis of segmentation of auto
mobile industry. The company would segmenting the market on the basis of
concentration of industries in different areas (Khalili Shavarini and et. al., 2013).
 Demographic segmentation- The demographic segmentation provides a base marketing
for the products such as income, status and age etc. The company should focus on
enhancing their income and gives especial features.
 Psychological segmentation- The company provide different products to the different
customers. This segment helps company to analyse the customer demand and need.
 Behavioural segmentation- This segment analyse the behaviour of the customers and
make decision what likes and dislikes of the customer (Klettner, Clarke and Boersma,
2014).
Market positioning – The market positioning is the process which influence consumer point of
view of brand or product relative to the competitors brands. The Aston martin focus on position
of their brands in the market. Their objective is to occupy a clear, unique and advantageous
position in the consumers mind. They establish image or identity of a brands or product for the
satisfaction of their consumers (Köseoglu and et. al., 2013). The major goal of the company is to
create a unique impression in the mind of the consumers. The company annual production of
23.37 million vehicles in FY 2015-16, a growth of 8.68 percent over the last year. The portion of
auto mobile market is 80% of shares. The industry is growing day by day in last five year. They
produce 19.84 million vehicles in April-January 2015 and the domestic sale of passenger vehicle
grew by 8.15% in April-January.
2.3 Porter's five force model of Aston Martin
The porters fives force analyse a structure for analysis the level of competition within an
industry and business strategy. This is important tool to analyse the environment and
competition.
1. Threats of new entrance- There are many barriers to entry in the industry which make
threat of new entrants. It require high capital investment to make manufacturing facilities
difficult. The company can ignore threat and eliminate it in effective manner. The
company face many problem and challenge the competition for enhance the reputation.
They generate income and play significant role during entrance time period.
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2. Competition from Substitutes- Every company faces the problem of substitution of
product or services. They should enhance in the quality of product items and make
perfect for the customers (Li and Tan, 2013). The company has give their best service to
attract more consumers. They should increase their promotion and marketing to sale more
vehicles.
3. Bargaining power of suppliers- The supplier reduces the risk of loss in an industry and
increase competition within an industry. They provide best product which are suitable for
the customers expectation and demand. The company should satisfy the supplier,
especially if they are exploring other products.
4. Bargaining power of Buyers- This refers to the ability of single customer to bargain the
price rate that extract profit from seller. The power have the power to walk away from
purchase of an item if he/she don't like the product. The company can not force the buyer
to purchase an item. The power of buyer is high (Mithas, Tafti and Mitchell, 2013).
5. Rivalry among competitors- The competitors are made same and similar type of
products. The company provides different incentives to attract more customers to buy
their own vehicle. They should adopt new technology for facing the competitors. The
vehicle industry manufacture new model for eliminate the competition. The Aston martin
seem attractive because it has been an existing company for a long time. It is used to
determine the intensity of competition in the company (Oyedijo, 2012).
2.4 Business proposal document
A business plan is a document which is presented in a written form so that they can attain
success for the future of business which denotes that how they have to make the plan and all the
information related to products and services which they are launching (Pagani, 2013). In the
business plan, they have to use appropriate resources along with the capabilities so that they
become successful in increasing profitability as well as increasing assets.
Business Idea: To launch pollution free cars as it is helpful for consumers as it is help in
reducing pollution and issues related to health will be decreased.
Business name: Aston Martin Cars
Target market and demographics: The company having a main target will be youth as it is
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beneficial for them. They are providing to their consumers towards elite class of the affluent
consumers. It is helpful in attracting large number of consumers so that targets can be attained.
Marketing: Managers and employees have to do proper marketing by using different techniques
which includes online as well as television advertisement which includes majority of
population. It also includes various kind of events so that they can provide awareness about the
features of merchandise.
Pricing: The price of business entity will be low but if demand of merchandise increases then
this will helps in fulfilling the expectations and it also expanding price of the products which
they are providing to the consumer.
Profit: Aston Martin will target 30% revenue on total sales.
3.1 Business Pitch for products and services
A business pitch delivers the business plan verbally which is a form used by entrepreneur
for describing ideas to the prospective investors. When employees of Aston martin doing work in
a team then they have to make a presentation for demonstrating their business pitch for a new
products and services. Presentation for business pitch includes cover page and in this logo or tag-
line should be includes (Scholes and et. al., 2014). Then they have write summary which
involves all info related products. There are some steps which are included in launching the new
products and services of Aston Martin includes:
 Start early: They have to do proper conversation among employees about the product.
 Make product and services which are available for important influencers: It is a another
step which the employers have to keep in mind. Influencers can be friendly to consumers
as it helps in encouraging products and services so that targets can be attained.
 Brief industry analysis: They have to proper research as well as analysis by using
different tools and techniques so that targets can be attained. They have to invest more
time so that they can compel briefing requests.
 Provide proper space with leaks: They have to target their people so that they can
purchase more cars and it helps in increasing their sales (Acemoglu, Gancia and Zilibotti,
2012).
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 Don't expect big bang release: Manager have to do planning for a massive launch so that
they can signify the products as well as services so that targets can be attained.
 Keep release rolling: Employers and employees have to provide proper report on a
specific time so that they can deliver official launch date.
 They have to do something which is not usual: They have to don advertisement which
will helps in doing survey so that they can provide proper assistance which will helps in
improving the products and services.
 Get partners involved: They should use appropriate channels which having a financial
stake in the success of launch (Alsanad and Abdel-Razek, 2016).
 Make it easy so that they can learn more about the product: They can provide free trials
as well as demos of the products and services which will aid in providing proper
information.
 Ignore elements of launch so that they can drive business: They have to do proper appeal
which is related to consumer mass audience and also have to focus on different data so
that they can collect appropriate information which will aid in reaping objectives.
3.2 Communicate effectively
Employers and employees of Aston martin have to do effective communication so that
they cannot face any type of obstacle in producing cars. Along with this it also helps in boosting
the sales. There are different type of skills which they can use which includes verbal
communication as well as visual communication so that they can deliver appropriate and correct
information which will help in reaping the goals and objectives which are decided by higher
authorities of Aston Martin (Branstetter and Saggi, 2011).
Verbal communication is a type of skill which can be adopt by the manager and
employees as well. It is a use of sounds along with the words which assist in expressing the
views. If they are using verbal communication skills then this will assist in providing proper
presentation. Along with this it helps in managing time for delivering qualitative services to their
service users. They have to use appropriate language for producing or manufacturing proper cars.
Along with this team work should be done as it helps in coordinating all activities so that they
can deliver their product in a specific time.
Another skills which the manager should have that is visual communication skills. In this
they have to make proper presentation which includes all information and data of cars or other
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services which they are producing or delivering to their consumers. the presentation includes
graphics, slides, videos as well as charts. They have to make proper advertising leaflets which
includes different images and data of merchandise (Candelin-Palmqvist, Sandberg and Mylly,
2012). While giving presentation associated to products and services, correct posture to be there
and also proper language should be used. This will helps in doing effective communication so
that targets can be easily achieved.
3.3 Evaluate success of Pitch in meeting business objectives
Managers of Aston Martin have to take feedback so that they can evaluate or analyse
success so that they can meet business objectives. There are three stages where they can make
improvements which includes:
 Business presentations: These type of presentations may or may not involve public
speaking. This will helps in doing one-to-one conversation. This will assist in improving
their influencing skills so that they can try to convince buyer for purchasing products and
services. If they are doing merger and acquisition then this will assist in doing expansion
of business (Fernandes and Brandão, 2016).
 Public speaking: It includes speaking of a group of people to a large audience. They have
to understand needs and wants of their consumers and fulfil them
 General communication: Manager of Aston martin have to use appropriate
communication skills on a daily basis. They have to do proper interaction with other
members. They can use verbal and written communication skills which includes eye-
contact as well as gestures which are important.
They have to provide effective presentation as it includes different pictures and graphs as
well as information related to products and services which will helps in providing accurate data
and on a basis of that they can attain their objectives. They have to be prepared for a well
practised speech. Managers and staff members have to present themselves as a confident as well
as honest which will assist in attracting large number of investors (Helfat and Winter, 2011).
They should increase or expand their work by using effective tome along with different varieties
of vocal in the speech and slide shows as well as visuals to be used. Presentation should be in a
proper manner as it helps attracting audience involvement. They have to take feedback from their
audiences so that they can identify and analyse the issues so that targets can be attained as well
as success in competitive market.
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TASK 4
2.1 Organisation strategic position
The organisational strategic position describe the impact on external environment of
strategic, internal resources and competence and influence of stakeholders. This is important to
make account of future and operated with the current strategy which is suitable to fit with the
position. The company strategic position is help to identify the current position. In this company
swot analysis describe the condition of environment:
 Strength(S)- The Aston martin has high brand equity and perfect legacy. They have a
strong engineering and designing team with perfect knowledge (Scholes, 2015). The
company has experienced and skilled workforce who provide high growth rate to increase
their profit.
 Weakness(W)- The company create limited products and items portfolio in come out
economy and cover less market in compare to other competitors. They don't have
systematic structure and take high loan to the banks.
 Opportunities(O)- The company can expand their market in other developed areas. They
may attract large number of customer to reduce price compare to the competitor and
increase the availability of service and spare parts.
 Threat(T)- The company faces competition from other big auto mobile brands. The
product innovation and increase in fuel cost is the major challenge. They has
technological problem which create threat (Slack, 2015).
Porters five forces
 Competition led market expansion- In this porter force, an industry scenario of perfect
players only serve to expand market and expansion of new market for the consumer to
fulfil their demand.
 Substitution of product and services- The porters consider substitute product or
services to eliminate threat in the business and innovate their items to increase in profit.
 Collaborative power of consumer- The consumer provide collaborative power force for
the company to develop new technology and up gradation. The buyer loves the great
product and collaborate with it (Smith, 2013).
 Collaborative power of suppliers- In this force the supplier and worker work together to
achieve a higher position and make large profit.
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 Competition rivalry- The company should make balance between collaboration and
competition in the market for rapid growth.
Ansoff Metrics
 Market penetration- The penetration of products are done on current market with its
existing products. This provides high quality discussion about its product and services.
 Product Development- The company make suitable product for the market which
increase demand. It combines company's market team members and suppliers.
 Market Development- The company should develop their market. It increase market
development and understand the requirement and culture of the new market (Torrent-
Sellens, 2015).
 Diversification- It change the product quality, size, quantity for the demand of the
consumers.
2.2 Environmental audit
The environmental audit is used to measure the management which effects on certain
activities of the environment and analyse the legal requirement , internal policies and adopted
policies.
PESTEL Analysis:
 Political(P)- The political factor plays an important role and provide more profit to the
auto mobile company. The government increase the taxes on luxury vehicle and fuel and
some other rules and regulation effect the income of the vehicle (Verbeke, 2013).
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(Source: Political factor of Aston Martin, 2017)
 Economic(E)- When the economic condition is weak, sale of the vehicle decreases and if
economic condition are good, sale of vehicle increases.
 Social(S)- The company affected by the change in cultural trends,technology and people
choices and preferences.
 Technological(T)- The technology should be upgraded and adopt new one to attract
more customers to purchase the vehicle.
 Environment(E)- The company should understand the external environment to deal with
their competitors and provide knowledge of environment to the customers (Abdel-Razek
and Alsanad, 2013).
 Legal(L)- There are different rules, regulation and quality standard for auto mobile
industry. The is difficult to examine the legal status of the country.
Product positioning: It is the major function of the Aston martin. In this company, the
core product communication and transportation facilities are performed by actual product. They
develop brands in the minds of the customers and built suitable brand for the choice of
customers. In this company, private and licensed brands are hardly used.
Entering in new global market: The auto mobile industry of India is one of the largest
in the world. The interest of the company is to explore new rural market to increase the profit.
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Illustration 2: Political factor of Aston Martin

They should change in the design of models and use of technology which is famous in other
developed countries for the entry in global market. The company can evaluate the market size
and assume the investment rate. The adoption of new policies and procedures are helpful for the
industry (Ke and et. al., 2016).
2.3 Stakeholder analysis
The industry does not work without the help and input of various people, they are called
stakeholders and they can be anyone from owners, creditors, employees and suppliers. The
stakeholders helps to increased productivity to satisfy the employee and solve their problem.
They reduce employee turnover and offer development opportunities. Stakeholder helps to
enhance their supplier and customers relationship. The company should understand their buyer's
priorities and fulfil their demand, the stakeholder increase the customer loyalty and improve the
customer relationship. They match the level of the competitors (Nambisan and Sawhney, 2011).
They helps to increase in staff motivation, productivity and promote staff loyalty. There are four
process for stakeholder analysis:
 Identify Key Stakeholders- The first process in which company identify the real
stakeholder and give them all the duties and responsibilities which they have to
performed. The stakeholder should participated in every activity of the company.
 Assess Stakeholder Interest- Once the key stakeholder have been identified, their
interest is also known by the company. Some stakeholder interest are different with other
it may be difficult to define, does not match with the organisation aims and objectives.
 Assess stakeholder influence and importance- The stakeholders can be influence by
different stakeholder groups. Some stakeholder are important to the project but lack of
influence. These are taken time in the company for actively participation and perform
task. They can influence the project decision directly and indirectly. The influence and
importance of different stakeholder groups are determining appropriate strategies for their
participation (Rampersad, Questerand Troshani, 2010).
 Understand the key stakeholders- The company should understand their stakeholder
decision and fulfil their requirement without any argue. All the decision taken by the
stakeholder are benefited to the company reputation and status. The stakeholder deals
with all the financial activities and make profit for the company.
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2.4 New strategy for an business entity
The technology should be improved and enhance in profit maximisation in the
organisation. The new technologies are impressive, maintained and advanced in system. They
make fully autonomous vehicle which reduce pollution and safe from all the damages. They can
provide three month services free for one year and enhance customer service. The company can
promote their product through advertisement, newspaper,online and television. They should
provide discount in season sale and fulfil consumer expectation (Scholes and et. al., 2014).
Sustainable growth- The growth of an auto mobile sector are based on their sale of
vehicle and their promotion strategy. The company should adopt new technology and upgrade
old technology to enhance their productivity. They can achieve target goal and objectives for the
development of their organisation. The faster development of technology can increase their sale
of the vehicle and perform accurate task to achieve their goal and target.
Limited Growth- There is a limited growth in the auto mobile industry to manufacture
more products. The company try to increase their sale by doing advertisement, online sale,
giving aids in newspaper and offer discount price to attract more customers. The company done
limited sale in each month by their higher price rate. This situation creates limited growth for the
auto mobile industry. Every industry focus on their growth for the reduction of risk. It involve
lack of orders, minimum production and higher price (Walsh, 2012).
Diversification- The diversification means change in size, colour , technology and
policies. The impact of diversify the product are increasing the sale and rapid growth in profit
system. The industry should apply change in every mid term of the year, it directly affect on their
sale. The brands and resources are maintain by the company for their effectiveness. The industry
should change their model shape, size ,colour or facilities for fulfilling the customers
expectation.
TASK 5
3.1 Roles of managers and employees in implementing new strategy
When higher authorities of Aston martin make new strategy and have to implement that
so that they can attain the targets as well as goals and objectives which are decided by them.
Managers and employees have to utilise appropriate and available resources so that they can
achieve the success by implementing strategy. While doing strategic implementation, they have
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to do proper planning along with the execution which are related to change in process. They have
to implement or execute changes in all departments along with the teams within Aston Martin.
They have to do effective communication so that correct and relevant information can be
transmitted so that targets can be attained (Xiao and et. al., 2016).
Financial resources should be allocate in a proper manner. They have to make proper
budget for all different activities so that they can make correct decision that on which type of
activity how much spendings needs to do. Relevant and qualitative material should be taken in
use as it aid in attracting large number of consumers. This will also helps in completing their
work and task in a specific time or deadlines so that targets can be reaped. Manager of human
resource should provide all information to them as well as manage all the activities. Leaders who
make the changes for other employees are facing so many difficulties.
It provide the permission to the employees of Aston martin to take help by using
appropriate distribution channel which assist in reducing negative morals (Yin, Shi and Yan,
2014). Along with this they can take feedback from their employees so that they can analyse the
changes which are to be implemented. Managers of business entity focuses on their commitment
which is done to implementation of innovation by encouraging employees to complete work on
time and reap goals and objectives in the competitive market.
3.2 Evaluate and SMART objectives to monitor progress
They have to use SMART objectives which will helps in monitoring progress of business
entity so that targets can be attained. They have to analyse their targets by using different
techniques which includes benchmarking. It is a technique which helps in doing analysis of
comparison with the standard value. From the benchmarking test, they can get appropriate results
and outcomes. This will assist in increasing performance in the competitive market
(Zastempowski and Przybylska, 2016). Benchmarking is a tool which helps in doing one's
comparison of business processes as well as performance metrics so that they can do best
practices from other business entities. Some SMART targets includes:
Specific: Managers and employees of the firm have to set their targets for improvements
in the specific areas. Aston Martin have to increase or expand their market share by 30% in four
months.
Measurable: Employers of business entity have to measure progress which will assist in
expanding the growth along with the developments which will assist in offering qualitative
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products and services to their consumers. They should boost consumer base by 20% (SMART
goals, 2017).
Attainable: Managers and staff members of Aston martin have to offer appropriate
information by using the different techniques which are related to social media so that they
cannot face any type of obstacle in accomplishing the objectives. Market share should be meet
by 30%.
Relevant: They have to accomplish the results by using or adopting the appropriate
resources so that managers and employees can generate more and more revenue.
Time bound: Employees have to do work in a specific deadline so that they cannot face
nay type of problem and on the basis of that they can attain good results. Employers and
managers of Aston Martin have to boost their market share in four months.
CONCLUSION
After summing up assignment, it has been analysed that employers and employees of
Aston Martin have to make appropriate strategies according to vision and mission statement of
business entity so that they can not face any problem in attaining goals and objectives. Along
with this relevant factors should be considered when planning and monitoring needs to be done
of strategies which are to be implemented. Staff members have to generate ideas so that they can
innovate existing products which will assist in boosting sales. They have to generate new ideas
and then grab opportunity and proper analysis should be done by using SWOT analysis. They
have to do proper planning for providing services according to needs and wants of consumers.
Manager of Aston Martin have to do proper research of market which will assist in identifying
and analysing needs and desires of services users and on the basis of that services should be
provided so that satisfaction level can be improved. Staff members have to use appropriate
strategy and according to that market should be targeted for new products and services in a
appropriate market segment. For attaining success, they have to do work in a team. Along with
this proper environmental audit needs to be done by using PESTEL or Five Force analysis.
Moreover, they can also prepare goals by using SMART approach so that they can monitor or
evaluate new strategy.
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