The Nature of Innovation and Idea Generation at Aston Martin

This report delves into the nature of innovation and idea generation, exploring how these factors contribute to a company's success or failure. The report uses Aston Martin, a luxury car manufacturer, as a case study to illustrate these concepts. It examines the idea generation process, the importance of embracing risk, and the need for constant improvement. Key factors contributing to Aston Martin's innovative success are highlighted, including constant improvement, creating value for customers, proper resource allocation, and maintaining focus. The report concludes that a company's ability to generate ideas, embrace innovation, and adapt to change are critical for long-term success in a competitive market.

The nature of innovation and
idea generation that lead to
innovative success or failure
an organisation

Table of Contents
Introduction......................................................................................................................................1
Main body........................................................................................................................................1
Nature of innovation and idea generation which leads to success or failure of an organisation
with innovative form.............................................................................................................1
CONCLUSTION.............................................................................................................................2
REFERENCES................................................................................................................................3

Introduction
Idea generation is a process of creativity which is used by company to figure out
solutions for number of challenges (Fonseca, 2017). The ideas are generated when groups have
discussions, then selects best idea and then starts creating plans to implement idea the final step
is to take idea and put it into practice. The company selected for this project report is Aston
Martin, an independent manufacturer of luxury cars and grand tourers which was found by
Lionel Martin and Robert Bromford. The report focuses on nature of idea generation and
innovation which leads to success of company in an innovative way.
Main body
Nature of innovation and idea generation which leads to success or failure of an organisation
with innovative form
Every organisation wants to be innovative with its work, but very few can approach it
correctly. It is the nature of innovation to get comfortable by being uncomfortable by risk taking
as it is part of culture of every business (Gao, Yang and Yang, 2017). Innovative companies have
knowledge that foster change in working environment is necessary to have creative thinking and
build culture of innovation. Innovation is more than OK to fail, it is essential for companies to
recognize that the quality which penetrates all the aspects of its businesses may lead to failure.
The embrace of innovation by companies may also embrace risk of companies.
It is known that ideas are the key to innovation. It is manifest that ideas alone con not
make innovation happen, as company needs to build a process which is systematic to mange
those ideas (Yan, 2018). It is nature of idea generation that it enables the businesses to expand
range of ideas which are beyond the range of thinking. It is believed that managers first expand
their thinking to include questions, more variables and ideas before they begin refinement
process. The final idea chosen is perfect because it has potential ideas available.
To get more clarity, the following are the factors through which Aston Martin have been
innovative and has succeed in its business activities:
 Constant improvement- Aston Martin has always been master in skills with systematic
plans and hours of practice (Kundu and Roy, 2016). To succeed in innovation
management company has improved both at company level and personal level in
continuous manner. It believes that constant improvement doesn't has to be
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insurmountably difficult. The mangers of company believe that improving constantly do
not mean that it has to run faster. The enterprise reacts to changes quickly by working
smarter rather then running in competition.
 Create value for its customers- The company constantly thinks on operating its
activities keeping the goal in mind to create value for its customers as much as it can.
Aston Martin has been depended on the situation as there are different ways through
which company creates value for its customers. However, to know its consumers very
well and acknowledge them and respond to their needs has been easy task for company.
 Allocation of resources for proper support- Being a manufacture unit it has been very
important for Aston Martin to have all the resources which are required for doing the
work (Lauritzen, 2017). It has been motive of company to maintain balance with the
innovation portfolio and resources in company. While the enterprise has grown, it has
faced greater risks and radical opportunities for which it had allocated the resources
according to strategic goals, capabilities and the principles of portfolio management.
 Focus- Like other companies, Aston Martin has not done the mistake of doing too much
and losing the focus from its actual work and the things which have matter with its long
run strategies. Company has the belief on focusing on the things where it has a realistic
chance of becoming the best amongst all its competitors. The leaders of company keep in
mind that the team stays focused and has a clear understanding of goal on which
company focuses with enough freedom to create and test the ideas they have.
CONCLUSTION
The above project report concludes that idea generation and innovation are factors which
may lead to success of a company. The nature of innovation is be comfortable with the risk, face
failures were as the nature of idea generation is expansion of ideas and thinking on the variables
before refinement of process. The factors which helps an enterprise to succeed are constant
improvements of company ,value for its customer, allocation of resources, company's culture and
staying focused.
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REFERENCES
Books and Journals
Fonseca, J. L. M., 2017. New business idea generation practical implications of a systematic
approach.
Gao, X., Yang, J. and Yang, F., 2017, July. An online training platform framework for creative
idea generation and development. In Proceedings of the 2017 International Conference
on Education and Multimedia Technology (pp. 70-74).
Kundu, A. and Roy, D. D., 2016. Innovative work behaviour of school teachers: Role of belief
for innovation and personality patterns. Journal of Organisation and Human Behaviour.
5(1).
Lauritzen, G. D., 2017. The role of innovation intermediaries in firm‐innovation community
collaboration: Navigating the membership paradox. Journal of Product Innovation
Management. 34(3). pp.289-314.
Yan, B., 2018. Social Value Orientation, Social Influence and Creativity in Crowdsourced Idea
Generation (Doctoral dissertation, University of Southern California).
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