Assignment on Entrepreneurship and Innovation Analysis

Running head: ENTREPRENEURSHIP AND INNOVATION ANALYSIS
ENTREPRENEURSHIP AND INNOVATION ANALYSIS
Name of the Student
Name of the University
Author Note

ENTREPRENEURSHIP AND INNOVATION ANALYSIS1
Table of Contents
Introduction......................................................................................................................................2
Implementation of theories and philosophies behind entrepreneurial personality of the leader of
the company.....................................................................................................................................2
Analysis of the approach implemented by the company to proper innovation management..........3
Recommended strategies to improve innovation management of the company.............................4
Conclusion.......................................................................................................................................5
References........................................................................................................................................6

ENTREPRENEURSHIP AND INNOVATION ANALYSIS2
Introduction
Entrepreneurship can be defined as the process that is implemented for the purpose of
proper designing, launching as well as launching a business organization that initially starts its
operations on a small scale. The individuals who are responsible for the creation of this business
are termed as the entrepreneurs. The case study is mainly based on Sir James Dyson who was the
founder of Dyson Ltd. that was established in the year 1991 (Dyson.com, 2020). The
organization mainly operates in the designing and manufacturing different household based
appliances that include air purifiers, vacuum cleaners, bladeless fans, heaters, lights and hair
dryers. The report will be based on the analysis of entrepreneurial activities that have been
performed by Sir James Dyson in order to maintain the operations of Dyson Ltd (Goffin and
Mitchell 2016).
Implementation of theories and philosophies behind entrepreneurial
personality of the leader of the company
The theory of innovation can be implemented in order to understand the activities that
have been performed by Sir James Dyson. The Innovation Theory had been suggested by J.A.
Schumpeter and was mainly related to the introduction of new combinations. The introduction of
new products with which the consumers are not familiar or this can also lead to the enhancement
of the quality of products (Mir, Casadesús and Petnji 2016). A new method of production can
also be introduced as a part of the innovation theory that is implemented by entrepreneurs. New
markets can be opened as a result of the proper implementation of innovation theory. The new
source of the supply of different raw materials can also be a major part of the innovation theory
implementation (Bbc.com, 2020).