(Solved) Managing Innovation in Business – Assignment

MANAGING INNOVATION
IN BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
Organisation and Industry overview................................................................................................1
The organisation and its innovation history................................................................................1
The industry in 2016...................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
This study is based on managing innovation in business. Innovation management in
business refers to process of managing activities relating to development of new product in order
to increase its demand in the market to increase profitability of firm(Dyson, 2016) . This study
will include Dyson for performing different task of this project. Dyson is a private limited
company involved in technology industry. It provides various products such relating to home
appliances such as vacuum cleaner, hand dryers, desk fans etc. It has number of employees more
that 8000 and generated revenue of £2.5 billion in 2016.
PURPOSE OF REPORT AND INDUSTRY STRUCTURE
This study will include approach to a range of business data , sources of information to
identify different drivers of innovation and its environment. It will also include importance of
organisational knowledge , knowledge transfer to analyse innovation capability and blockages.
Moreover, it will include innovation development audit for development of new product or
services. Technology industry is growing days by day because of its various advantages to
public. Technology helps in improving communication and also assist in increasing brand image.
Organisation and Industry overview
The organisation and its innovation history
Dyson company is involved in technology industry and producing various produces
relating to home appliances. It is involved in designing and manufacturing of products such as
vacuum cleaner , hand dryers, blade less fans etc. This organisation is well known for its
innovative products which has increased their market share(Antikainen and Valkokari, 2016).
This organisation is famous for manufacturing of vacuum cleaners(Innovation Management –
Definition, Processes, Frameworks and More, 2018) . Dyson is involved in making
innovative products which is increasing its profitability, Innovation is related to coming up with
new ideas and thoughts in order to develop a unique product which is not available in the
market. Innovation consist of product innovation, product innovation, organisational innovation,
management innovation etc. Dyson is a private company which was founded by James Dyson in
1991. Dyson generated revenue of £2.5 billion in 2016.
Dyson designed and manufactured various innovative products such as cyclone vacuum,
robotic vacuum cleaners etc(Dyson's Latest Products Will Revolutionize How You Clean Your

Home And Purify Your Air, 2017). Dyson reinvented Wheelbarrow as ball barrow to improve
stability and mobility. In 1978, Dyson found that air filter in Ball barrow was constantly
clogging with dust and powder so company designed industrial cyclone tower to remove
particles by centrifugal force. Established companies refused to buy its license of cyclonic
technology. Dyson was provided with license to manufacture vacuum by a Japanese company
after seeing the picture of vacuum cleaner in a magazine (Biemans, 2018).
Dyson created a various products by using prototyping and cyclonic technology to
produce a high quality and disruptive products. Dyson took 5,127 prototypes for creating a
vacuum which was successful and work perfectly. Prototyping is a model or system is used for
testing and experimenting for making a final product. Engineers of Dyson design the product by
implementing model of card and foam. These are the sheets used by Dyson for designing the
model of its products. Then they introduce prototypes relating to product.
Dyson in order to build great product build prototyping, which is a phase where solution
to one problem raise question for another problem to make the best product with failures.
Engineers of maths and statistics are used for quality control. Mathematics formula help Dyson
to incorporate intolerances and statistics assist in testing the quality of product to identify defects
before producing final product in market.
Dyson in 2016, developed a supersonic hair dryer(The Dyson supersonic hair dryer,
2016). This hair dryer cost £50 million on research and over 1100 miles of human hair were used
for testing 600 prototypes. Dyson created robotic vacuum cleaner which was known as 360 eye
vacuums (Wu, Lii and Wang, 2015). The robot uses fish eye camera lens that allow it in
analysing 30 frames per second of data and move its position in room.
Dyson achieved a great success by using different innovation and techniques in their
product to make it creative. It is involved in continuous innovation and development. Dyson
before manufacturing a product make proper research about the market and product in order to
create an innovative product. Dyson make use of SWOT analysis in order to identify strength
and weakness and opportunities and threat which have their influence on its profitability.
Strength of the Dyson is that it have highly qualified workers and also they have strong research
team which is engaged in creation of new ideas. Weakness of Dyson is that it have high prices of
its products than its competitors and also failure of various experiments. Dyson has an