Bentley Motors: Innovation and Business Development Report Analysis

This report provides a detailed analysis of innovation management at Bentley Motors, a British luxury car manufacturer. The report begins with an executive summary and introduction to the company, highlighting its mission, vision, and goals. The main body of the report delves into Bentley's internal and external environments, using VRIO and PESTLE analyses to assess its resources, competitive advantages, and the impact of political, economic, social, technological, and environmental factors. The VRIO analysis evaluates the value, rarity, imitability, and organization of Bentley's resources, while the PESTLE analysis examines the external factors influencing the company's operations and growth. The report concludes by summarizing the key findings and offering insights into Bentley's innovation strategies and business development, emphasizing the importance of adapting to market trends, technological advancements, and consumer preferences to maintain a competitive edge in the luxury car market. The document is a comprehensive analysis of Bentley Motors' approach to innovation and business development, providing valuable insights for students and professionals alike.

Managing Innovation in
business

EXECUTIVE SUMMARY
Innovation is one of the key factor which help a business organizations make continuous
progress by offering products which solve problems faced by the consumers with creative and
unique features. Development of innovation capabilities is essential for organizational growth.
Innovation capabilities for a business organization need top be build on the basis of future
innovation requirements, technological changes and other factors which influence daily
operations of the firm.

Table of Contents
EXECUTIVE SUMMARY ........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
MAIN BODY..............................................................................................................................................4
CONCLUSION.........................................................................................................................................13
REFERENCES..........................................................................................................................................15

INTRODUCTION
Innovation can be characterized as a thought which is embraced or seen for the
achievement of objectives of the business. Innovation fuels business growth and helps the
company secure beneficial position in their industry (Ahmad, 2020). This report Is based on
British firm Bentley Motors limited which is headquartered in Crewe, England, UK and
produces premium automobiles along with motor sport vehicles. The respective company was
founded in the year 1919 and regularly offers innovative and unique products in the market
which is the reason behind success of the firm in various international markets. This main
purpose of this report is to construct a guide to innovation which covers preparation of
innovation procedure. This report includes description about current capabilities of the respective
organization which are asses ed with the use of applicable framework. In addition to this, main
organizational capabilities of the firm are identified in this report which can help the company
gain competitive advantage through business innovation.
MAIN BODY
Mission: The mission of Bentley engines is "To turn into the worldwide pioneer in the car
business by stretching their boundaries and upgrading the cooperation and advancement to
accomplish the client's trust".
Vision: The vision of the organization is "To guarantee consistent upgrades in their innovation
progressions to lead their method of zero accidents, zero blockage and zero discharges"
(BENTLEY MOTORS COOKIES POLICY, 2020).

Goals:
The goals of organization can be clarified as follows:
• To apply expected imaginative method in their innovation by presenting designing in their
autos.
• To guarantee the dispatch of an electric vehicle with high limit, low fuel discharge and open to
driving with reasonable costs.
• To actualize the inventive method with a proficient arrangement and guarantee powerful
checking for additional upgrades.
Internals analysis
VRIO Analysis of Bentley
It is a technique through which an association can assess and inspect the assets that are inside
accessible in the association. An association can likewise use this technique to distinguish, assess
and deal with the upper hand too. For the most part there are various assets that can be used by
an association to expand the adequacy and profitability of its activities. In VRIO examination, an
organization needs to pick or choose the assets that are generally basic and significant for an
association. Subsequent to choosing the most basic assets, an association need to check their
pertinence by applying the equivalent to the four boundaries for example First : Value, Second :
Rare, Third : Imitable and Fourth : Organization. To check the inner climate of the organization,
VRIO examination can be applied to the equivalent.
Illustration 1: Bentley Motors
Source:

Valuable: There are different important assets in each organization. If there should arise an
occurrence of picked organization, the most important assets are representatives, financial
specialists, innovation, licenses. Representatives are critical for Bentley Motors to complete the
everyday schedule work and tasks of the association gainfully and viably. An association needs
to have sufficient monetary assets to do the smooth working of activities in the business.
Speculators gives monetary help to the association to meet the monetary necessities of the
organization. Thus, financial specialists are considered as one of the significant assets of the
organization. Innovation is an exceptionally fundamental asset for general engines, as the
organization fuses auto-portable and mechanical progressions. Patent is additionally one of the
significant assets as it causes the organization to shield its item and administrations from getting
replicated by the contenders winning on the lookout (Ariyani, 2018).
Rare:- Rare assets are the ones which are not handily obtained by the business associations and
their securing requires a ton of endeavors and time. In Bentley engines, representatives are
viewed as uncommon as it takes as it requires some investment, endeavors and cash to select and
employ skilled labor force in an association. A great deal of preparing is given to the
representatives to build their profitability and effectiveness. Financial specialists are likewise an
uncommon asset for Bentley Motors as it is difficult for an organization to locate the correct
speculators for its association. Since, general engines is seriously working in innovation based
items and administrations, it is can be effortlessly inferred that innovation is a basic and
uncommon asset for the organization (Falasca, 2017). Licenses can't be considered as uncommon
asset since these days pretty much every association has licenses as fundamental piece of their
organization. Henceforth, Bentley engines can't name licenses as uncommon assets.
Imitative:- Imitative assets can be named as those assets that can be handily replicated and
received by other adversary organizations in a business climate. Representatives can't be
considered as imitative assets in Bentley engines as the organization has assorted labor force and
various workers coming from various areas are relegated various positions. Every single
organization has diverse arrangement of labor force worked in various offices and abilities.
Different organizations can not emulate the labor force or representatives of Bentley engines.
Subsequently it's anything but an imitative asset (Hsiao, 2018). )Speculators additionally can't be
considered as imitative as various associations have various financial specialists. It is beyond the

realm of imagination that each speculator of Bentley engines can be received by other
organization. Innovation is an imitative asset as Bentley engines bargains in innovation based
items and mechanical subtleties of items and administrations cooked by Bentley engines are out
in the open. So different organizations can likewise take references from the equivalent and
receive similar sort of innovation to fabricate their items and administrations to give an extreme
rivalry to the adversary organizations in the objective market.
Organisation:- From the previously mentioned investigation, we can determine that
representatives are the main coordinated of the Bentley Motors as the organization has viable,
productive and capable labor force that is dispersed in a coordinated way. Bentley engines can
exploit the workers of the organization to increase a serious edge over the opponent in the market
climate.
By and large it tends to be assessed that VRIO examination is a compelling path through
which Bentley Motors can without much of a stretch recognize its generally important,
uncommon and coordinated assets which can't be imitated by different organizations. If there
should be an occurrence of Bentley Motors, the outcome was the representatives working in the
association. VRIO investigation likewise causes an association to settle on better business
choices as it gives a concise structure to an association with respect to the main asset of the
organization. In the event that an association So to develop constantly later on, the organization
should zero in on successful usage of its HR and workers so it can pick up advantage on the
lookout and use it to upgrade the benefit age of the organization (Ing, 2020I).
PESTLE analysis:
PESTLE analysis is a system and apparatus which manage about outside large scale
climate factor impacts on an association. With the assistance of this examination, an association
recognizes its external climate to adjust openings and upper hand through market direction which
have direct effect on business execution and development. The elements that impact the
association are recorded underneath s(Osman, 2020).
Political factor: This factor effects on the productivity and effectiveness of an
association because of the burden of government political obstruction. Regarding charges,
custom obligations, alterations in arrangements and other political perspective. These factor

stops the development of association extension. Lately, UK government stop the cycle of import
and which influences the benefit of auto versatile industry. These political variables have
influence the deals of Bentley engines on account of addition and burden of weighty expenses
because of swelling control in the nation. Because of which, Bentley engines endures the
deficiency of their development. The organization ought to extend their business wherein nation
where have less political impact and administrative control from government or by keeping up
great association relation. In addition to this the British government is implementing laws which
increase taxes on vehicles which produce high carbon emissions. This influences Bentley Motors
limited as they are focusing on providing electric cars.
Negative effect: The rise in import duties imposed by UK government have negative
effect on the company (Kahn, 2018).
Positive effect: Taxation law which increases taxes on cars with high emission will help
the company launch their e-vehicles in the market as prices of cars which produce high carbon
emission will increase.
Economic factor: This factor impact on the monetary worth which a nation follows for
its turn of events, financial elements influences the estimating strategies of an association. Client
inclination and their needs are the primary viewpoint in economy which influences on interest
and gracefully in the economy that prompts expansion and high loan costs. Bentley engines have
seen a positive effect in financial advancement by giving work and augmentation in development
pace of monetary GDP likewise its item extension is prompting high development into China as
the organization appreciate high responsibility of client inclination (LEE, 2020).
Positive effect: Consumer inclination towards the company has positive effect on the
organization as it will increase the sales of the firm.
Negative effect: High dependence on China fro financial growth has negative effect in
the company as it influences international sales in a negative way.
Social factor: This factor influences social economy regarding age, sex, segment changes which
drove an association to follow correspondence and customer needs. Socio culture patterns are the
principle part that effects in this factor into an association. This can cause gigantic rivalry in the

event that others firms produce their items as per market patterns and thinking about client needs.
Bentley engines has face contention rivalry as these competition firms furnishing a greater
amount of popular vehicles with some energizing administrations. The organization needs to
grow more vital methodologies and spotlight on assembling extravagant just as medium standard
items so every client could get it.
Positive effect: The main positive effect of the sociological factors effecting the company
is that it drives innovation in order to face high competition in luxury car market.
Negative effect: Intense competition in the luxury car market has negative effect on the
firm as it reduces the market share of the firm.
Technological factors: This factor put effect on refreshed innovations and present day methods
to make the work simpler and less tedious. This factor includes statistical surveying and
examination to overabundance moving information so that, no other performs could take the
pride first. Bentley engines is purposely zeroing in on delivering advance innovative vehicle
which have portable network mode so can entirely fit in buyer way of life additionally
consideration on clients security by including safe vehicles locks and different highlights. These
endeavors of Bentley engines emphatically sway on its deals and income.
Positive effect: Technological advancement of the company help the company secure
beneficial position in their industry despite high competition.
Negative effect: Technological advancement made by the company increases the price of
their product making it inaccessible to large part of their consumer base. Consumers from
developing countries cannot afford such highly priced cars which has negative effect on
international sale of the firm.
Environmental factor: As per this factor, an association is influenced by climate gores through
climate, season, area, geographic setting which makes a lot of effect on an organizations
consistency and tasks. This factor is generally influence for private venture like ranchers,
opportune food sources and so forth An association must get ready to confront these adjustments
in the climate as they are adaptable and dubious. For auto versatile industry ecological
components advances high sure effects towards climate. Bentley engines must adjust lord of

innovations which make the climate less dirtied by utilizing vehicles. Bentley engines have
previously creating a battery power which can quicken the speed to 400 miles. This turns into an
extraordinary move towards natural development.
Positive effect: The environment friendly steps taken by the company are positive for the
firm and helpful in attracting climate conscious consumers.
Negative effect: Rising concerns fro the environment are dangerous several products of
the firm utilize diesel which is harms the environment.
Legal factors: As per this factor, an association is proliferated by the laws and act which bound
them towards monetary government assistance and individual advantage which incorporate
representative act, security act, pay scale pay and client abuse laws. UK laws forced to give least
considerable measure of pay and hefty charges on account of buyer misuse. As of late, Bentley
engines has confronted commitment to make imperfect start switches in their considerations
which cause weighty fines regarding redress and brand picture.
Positive effect: The main legal factor which has positive effect on the firm is health and
safety law as the firm is investing in increasing safety of their vehicles.
Negative effect: Products of the firm which cause fire have made the firm target of
lawsuits for noncompliance of health and safety law which has reduced the reputation of the
firm.
From the pestle examination, an association could comprehend the outer factors and make
changes any place it is required as this effect on organizations generosity and productivity.
STP MODEL:
STP is a marketing approach which is used by entity to access competitive market and
achieve organizational objectives. It is an effective model which is needed to be used with proper
consideration so that issue does not arise. In relation of selected firm, it is seen that they also uses
this model which assist them in achieving of competitive benefits. The manager of firm need to
be aware of situation of market to gain advantages in appropriate way.

Mission: Bentley motors has their main motive to achieve customer retention and lifelong
service till they own the cars.
Vision: Their main vision is to make customer satisfied and build trust towards the company.
Segmentation: It is defined as dividing of market on basis of several factors like
demographic, geographic and many more. It is critically crucial for every organization to
segment their market in order to use resources in efficient manner (Falasca, 2017). Additionally,
guarantee that the focused on zone must be acceptable to arrive at huge clients to make high
income. In setting with Bentley engines, they utilize different focusing on technique to snatch
huge portion of market with their enormous image portfolio that ends up being a significant
resource for the association and aides in draw in new and more focused on clients.
Targeting: Subsequent to being fragmenting market according to the age, sexual orientation, pay
of the shoppers, there is need for focus on the necessary market and should guarantee that no
portion market has left aside. Likewise, there is need for effective focusing to a wide number of
clients by guaranteeing the limited time exercises must be effectively reasonable. Furthermore,
each section must be not quite the same as different portions to keep away from confusion of
focused territory. Additionally, guarantee that the focused on territory must be acceptable to
arrive at huge clients to make high income. In setting with Bentley engines, they utilize different
focusing on procedure to snatch enormous portion of market with their tremendous image
portfolio that ends up being an important resource for the association and aides in draw in new
and more focused on clients (Hsiao, 2018).
Positioning: This component of STP model gives a feeling of deduction to clients whether the
association giving significant great and benefits and are more gainful from the other contender
firms. Situating sets the key components that a shopper center around, that are highlights,
competency and important use item the brand is giving. And furthermore shopper explores more,
all things considered an association must give something that no external firm can contend with
their items as far as cost and quality (Ariyani, 2018). For instance, organization dispatching its
item with tremendous plan and highlights. For which development are the best method to design
systems as indicated by that. In setting with Bentley engines, the organization furnish great

vehicles highlights with energizing plan with effectively suits or way of life of purchasers and
continually satisfying sumptuous interest with cash worth fulfillment.
By recognizing STP model, Bentley company are in able to utilize this fragments into effective
way and could advance and grow their organizations to different areas where quality and amount
energized.
Budget
Benefits of Implementation of Plan
Planning is a way which will enhance the operations of the company by evaluating the
future growth prospects as a base for formulation of plans. Bentley Motors company have
designed an innovative plan of combination of engineering in their automobiles. This plan
provides the following benefits to the company:
This plan will improve the efficiency of the organization by applying the procedures which will
help them in assessing the client inclination and investigating their interests. The arrangement
will likewise guarantee that the potential advancement techniques will be received by the
organization (Ahmad, 2020).
•This plan will diminish the general operational expense of the organization as they will utilize
compelling innovation which will use their assets productively. The organization will have the
option to keep up their development possibilities by following the impression of the business.
•Furthermore, this arrangement will upgrade the intensity of the organization in the outside
climate. The organization is building up the item which will guarantee shopper security and
improve traffic the executives. This will build up an association of the organization with their
clients and they will accomplish elevated requirements of value support.
•Moreover, the organization is intending to go into a period of computerized change of vehicle
which will expand their availability towards the expected clients. This arrangement has
adaptability advantage as this covers the client concerns with respect to the advancement.