Innovation Management - Dyson company

Added on - 17 Feb 2021

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MANAGING INNOVATIONIN BUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1Organisation and Industry overview................................................................................................1The organisation and its innovation history................................................................................1The industry in 2016...................................................................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONThis study is based on managing innovation in business. Innovation management inbusiness refers to process of managing activities relating to development of new product in orderto increase its demand in the market to increase profitability of firm(Dyson,2016) . This studywill include Dyson for performing different task of this project. Dyson is a private limitedcompany involved in technology industry. It provides various products such relating to homeappliances such as vacuum cleaner, hand dryers, desk fans etc. It has number of employees morethat 8000 and generated revenue of£2.5 billion in 2016.PURPOSE OF REPORT AND INDUSTRY STRUCTUREThis study will include approach to a range of business data , sources of information toidentify different drivers of innovation and its environment. It will also include importance oforganisational knowledge , knowledge transfer to analyse innovation capability and blockages.Moreover, it will include innovation development audit for development of new product orservices. Technology industry is growing days by day because of its various advantages topublic. Technology helps in improving communication and also assist in increasing brand image.Organisation and Industry overviewThe organisation and its innovation historyDyson company is involved in technology industry and producing various producesrelating to home appliances. It is involved in designing and manufacturing of products such asvacuum cleaner , hand dryers, blade less fans etc. This organisation is well known for itsinnovative 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 makinginnovative products which is increasing its profitability, Innovation is related to coming up withnew ideas and thoughts in order to develop a unique product which is not available in themarket. Innovation consist of product innovation, product innovation, organisational innovation,management innovation etc. Dyson is a private company which was founded by James Dyson in1991. 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 improvestability and mobility. In 1978, Dyson found that air filter in Ball barrow was constantlyclogging with dust and powder so company designed industrial cyclone tower to removeparticles by centrifugal force. Established companies refused to buy its license of cyclonictechnology. Dyson was provided with license to manufacture vacuum by a Japanese companyafter seeing the picture of vacuum cleaner in a magazine (Biemans, 2018).Dyson created a various products by using prototyping and cyclonic technology toproduce a high quality and disruptive products. Dyson took 5,127 prototypes for creating avacuum which was successful and work perfectly.Prototyping is a model or system is used fortesting and experimenting for making a final product. Engineers of Dyson design the product byimplementing model of card and foam.These are the sheets used by Dyson for designing themodel of its products.Then they introduce prototypes relating to product.Dyson in order to build great product build prototyping, which is a phase where solutionto 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 Dysonto incorporate intolerances and statistics assist in testing the quality of product to identify defectsbefore 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 usedfor testing 600 prototypes. Dyson created robotic vacuum cleaner which was known as 360 eyevacuums (Wu, Lii and Wang, 2015). The robot uses fish eye camera lens that allow it inanalysing 30 frames per second of data and move its position in room.Dyson achieved a great success by using different innovation and techniques in theirproduct to make it creative. It is involved in continuous innovation and development. Dysonbefore manufacturing a product make proper research about the market and product in order tocreate an innovative product.Dyson make use of SWOT analysis in order to identify strengthand 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 researchteam which is engaged in creation of new ideas. Weakness of Dyson is that it have high prices ofits products than its competitors and also failure of various experiments. Dyson has an
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