Managing Innovation in Business: An Innovation Audit of Dyson

Managing Innovation in
Business

EXECUTIVE SUMMARY
The report of “Managing Innovation in Business” is prepared on Dyson which is popular
establishment in industry of electrical household appliances. For Dyson, managing innovation I a
journey which initiated with creating ideas in collaborative manner and further, selecting along
with executing best which adds most of value. The report aims to demeanour innovation audit in
context to Dyson which looks towards its past proceedings, present as well as future actions and
capabilities. The finding of the report includes that Dyson started innovating in 1993. Key
organisational capabilities are patents, financial resources, local household appliances and human
resources.
The report covers information about company and the industry. It also includes performance
and capabilities of the business and details about household appliances in 2021.

Contents
EXECUTIVE SUMMARY ............................................................................................................2
INTRODUCTION...........................................................................................................................1
THE ORGANISATION & INDUSTRY OVERVIEW...................................................................1
The Organisation and its Innovation History ..............................................................................1
The Organisations existing Innovation Performance and Capabilities .......................................3
The Industry in 2021....................................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Managing Innovation is handling all kinds of practices requires in introducing something
new that is in practice. With management of innovation, business managers discover new
products, enhance development process significantly addition to reduce costs (Hoerlsberger,
2019). There are companies that do not embrace managing innovation that brings risks related to
outdated solutions to market or industry. It limits their potentials for staying ahead of
competition. Purpose of present report is to conduct innovation audit for a company for
examination of its innovation history, existing level of innovation practices along with
requirements of innovation in future. For this, chosen company is Dyson that designs and
manufactures varied number of household appliances comprising heaters, vacuum cleaners,
lights, hand dryers, air purifiers and many more. It operates in electric household appliance
industry since 1991.
The report covers overview and innovation history of the company. It also highlights current
innovation performance as well as capabilities of company and industry in 2021.
THE ORGANISATION & INDUSTRY OVERVIEW
The Organisation and its Innovation History
Overview of the company
Dyson is popular designer and manufacturer of varied household appliances. It operates
with mission of inspiring new generations of engineers. The company provides material, money
addition to mentorship in the manner that young population can get their hands-on with issues
addition to learn ways to solve all. At the time when any engineer step into the premise of the
company, they innovate something new along with develop new technologies for better life.
Despite of having huge innovative products and services in collection, Dyson believes in
possibilities for further improvements. The establishment emphasise towards solving
complexities which other household appliance businesses have ignored, solve them first through
technology addition to ingenuity.
Innovation History
In 1991, James Dyson established a foundation of Dyson with name of Dyson Appliance
Limited. At first, dual-cyclone vacuum was built by the company and was produced by Philips
Plastics which was an American company. From the year 1986 to 2001, Dyson licenced
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