Managing Innovation in Business - Dyson Case Study

Managing Innovation
in Business

EXECUTIVE SUMMARY
The following report covers the innovative activities and practices which are undertaken
by Dyson in order to achieve success, development and growth in future efficiently. It also
define the various innovative activities which are adopted by management of Dyson operating in
household appliances industry. It also illustrates the understanding regarding innovation
capabilities of Dyson. Along with that, this report defines various model and frameworks that
can be used by professionals in Order to find out ideas for innovation practices in Dyson
effectively.

Contents
EXECUTIVE SUMMARY ............................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
The future of the industry 2022 and beyond................................................................................1
The organisations Innovation Requirements 2022 and beyond...................................................2
Building the future innovation capabilities for the organisation ................................................4
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Innovation refers to the process of changing and modifying the current process, product
and services of a firm by adding more features, using advance technology in order to earn
competitive advantage over competitors (Biemans, 2018). Innovation management includes the
process and activities of managing a business innovation policy as well as procedures, its start
from the initial stage if planning and ideation to its end or final stage of effective implementation.
It focuses on the decisions, practices and activities of making addition to implementing a strategy
of innovation. It includes various activities like planning, taking decisions, screening,
experimenting the ideas of innovation, commercialisation as well as implementation to achieve
the desired goals. To define the concept of managing innovation in business the selected
organisation is Dyson which is multinational technology company. It was established by James
Dyson in 1993 which deals in household appliances.
This report highlights how organisations and their leaders can successfully plan and
prepare for innovation. Further, it covers the importance of organisational knowledge, knowledge
transfers and cross functional co-operation in order to analyse and assess innovation blockage
and capability.
MAIN BODY
The future of the industry 2022 and beyond
The household industry in UK has vast area of development in recent times as well as
there are many companies and huge market of this industry. Household industry includes variety
of products such as air fresheners, vacuum cleaners, desk fans, hand dryers, hair dryers, LED
luminaries and many more. Dyson is well known and most famous company in this industry
which deals in all these products. It has been said that increasing rate of change in global market
for household appliances stems from recent market trends. The increasing demand of household
appliances generates great opportunities in UK for companies to bring innovation in their current
products and services in order to meet the demand of customers. In today world, the needs and
demands of household appliances is increased due to increase in income level, standard of living
of people, customers give more focus to cleanliness, hygiene in order to prevent from unexpected
diseases and virus. In UK, sales and revenues of households’ appliances increased rapidly due
high technology advancement, innovative products, demands of customers. Also there is huge
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