Role of James Dyson in Establishing Dyson Organisation
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This report highlights the emergence of Dyson organisation and the role played by James Dyson in establishing it as a successful venture. It also focuses on the contribution of Dyson to the economy and society.
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Table of Contents ENTREPRENEURSHIP..................................................................................................................3 INTRODUCTION...........................................................................................................................5 MAIN BODY...................................................................................................................................5 About the Entrepreneur (or group of entrepreneurs) who was Behind the Organisation..........5 About the Entrepreneurial Organisation.....................................................................................8 About Contribution to the Economy and Society.......................................................................9 CONCLUSION.............................................................................................................................12 REFERENCES.............................................................................................................................13 Books and Journal....................................................................................................................13
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INTRODUCTION Entrepreneurship can be characterised as a process wherein an individual comes up with an innovative idea and that has not been tapped or introduced before in the market in order solve an existing issue faced by the customers in the market domain. It can be termed a process that allows the individual to capitalise on various profitable opportunities prevailing in the business environment and facilitate the optimisation of the same. Dyson is one of the leading retailer enterprise in United Kingdom..It can be termed a multinational organisation based in United Kingdom. It was founded and established by James Dyson in the year 1991. The respective firm is involved in the manufacturing and selling of technology based home appliances such as vacuum cleaners, hair-dryers, advanced lights, heaters, air purifiers etc. In today's scenario, Dyson can be considered as one of the most popular and successful business enterprises in is respective lichenology. The company' carry out its business activities all across the globe and has been bale to develop and retain a large customer base from all across the world.The report highlights upon the emergence of the enterprise and the role played by the entrepreneurs in order to establish the organisation as a successful venture. It also focuses upon the contribution of Dyson organisation in uplifting the economy as well as societal structure. It also details about the sustainable and survival of the organisation during the ongoing pandemic situation i.e. COVID - 19 all across the globe. MAIN BODY About the Entrepreneur (or group of entrepreneurs) who was Behind the Organisation The entrepreneur behind the formation and establishment of Dyson organisation is named as James Dyson. He is the man that can be held responsible for the success of the organisation as his passion forinnovation and creativity has led to the growth and developmentof such a productive organisation in the market environment. James Dyson was a very intelligent and hard- working person and was very focused towards his field of work (Hisrich, et al 2017). The personalities traits of James Dyson are mentioned below :- James Dyson is a very self-confident and motivated individuals who worked after his dreams and did not gave upon the same. He overcame all the the hurdles and problems that came within his way and emerged as a strong leader.
He is a very flexible individuals as he possesthe ability to facilitate the change in accordance with the ongoing changing dynamics its respective market industry. He is an individual is open to change and believes adaptability. The respective personality trait can also be seen in its market operations .For example, he started out his business with the introduction of vacuum cleans but with the changing time, he modified its operations and also introduced hairdressing appliances in the product line of the business. James Dyson can also be characterised as a risk taker he is always willing to introduce something new and innovative in the market that has not been catered before. It takes a lot of courage and willpower to introduce a new offering in the market as the entrepreneur is unaware about the response as well as reaction of the customer (Kuratko, and Hodgetts, 1997). Dyson has been able run effective and efficient operation with the the enhanced contribution of the employees. The workforce of the respective organisation has worked as a team in order to realise the common goals and aspirations of the respective business organisation. James Dyson exercises effective and advance team building skills within the organisation so as to ensure that the staff members are working to towards the common goal. James Dyson has excellent communication skillsand he is able to effectively put his point across million of customers as well as the employees catering their services in the organisation. The respective individual is able to deliver the idea and concept behind his business deliberate. Building an internal organisation is not easy task and the individuals needsto be able to effectively express his views and opinion in front of a large number of audience so as enhance the credibility of the business among the same. In the year1978, James Dyson was trying his best to identify the causes behind the poor performance of the vacuum cleaners invented by the same. In order to enhance the quality of the products and services (Dollinger, 2008), he started exploring various concepts, theories, tool and techniques in order improve and enhance the quality of the vacuum cleaners. With excessive handwork and determination, he analysed that the importance of suction and with the help of this idea he was able to design and develop a vacuum cleaner that does not require a bag attached to the same. This led to the development of bag-less vacuum cleaner. What are the innovative products/service There are numerous products and services designed by Dyson organisation utilisation of which can help the customers to satisfy their everyday needs. The unique selling proposition of the
company can be termed as its utilisation of the cyclonic technology which help the firm to separate the dust dirt and waste material from the air as well as the floor (Eckhardt, and Shane, 2003). The respective ideology has been adopted by Dyson in its entire line of product development and management. The concerned business enterprise has provided a wide range of quality products to its customer. Few of the products and services catered by the firm in the business environment are as follows :- ï‚·Air purifiers with different specifications ï‚·Hair appliances such s dryers , strainers, curlers,etc. ï‚·Vacuum cleaners with various additional specification Innovation can be termed as one of the most essential as well as integral aspect of an organisation. It helps the organisation to enhance its products attributes and also allow the company gain higher competitive advantage in the target market. Innovation has assisted Dyson organisation in facilitating the growth and expansion of the business activities. The productivity ofthecompanyhasalsobeenincreasedwiththeenhancedimplementofinnovational technologies in the production as well as marketing of productsand services offered by the business firm. Innovation allows the organisation to tap into various sectors that have not be capitalised before by the organisation (Shapero, and Sokol, 1982). This can also lead to enhancement in the probability of the organisation in the coming future. There is a customer segment that is always looking forward to invest in innovative products and services. Innovation in the organisation helps to satisfy those section of the target market that is always striving for investment in innovational creative products and services. Dyson's market share has also increased due to its emphasise and counteraction upon innovation. In order to respond tothe challenges in the market, it is very essential for the company to implement innovational attributes in its current line of products ad services so that the company is able to overcome the challengeseffectivelybytheintroductionofnewandadvancedofferinginthemarket environment. Dyson is an organisation that has always led to innovational tactics and techniques in its offering so as to persuade the customers towards the offering of the organisation and retain the same in the business enterprise. Innovation can be characterised as the foundation for the success and sustainability of Dyson for such a long period of time (Kuratko, 2009). Various organisation are focusing towards the incorporation of innovational measures in their business process so as to alleviate their service sin the business environment and gain excess revenue and
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profit margin from the same. Thus, it can be stated that innovation is one of the most essential building block for the survival of the organisation in the long run. About the Entrepreneurial Organisation How did the entrepreneur build the entrepreneurial team? Entrepreneurial team can be charted as a set of individuals that comes together in order to work towards a common goal that can lead to enhancement of the operations carried out the respective firm in the business environment. In order to build a competent entrepreneurial team, James Dyson focus upon facilitating interaction with the individuals that have the relevant skill set that can provide assistance in the management and operational process of the respective organisation. He must have carried a market research in order to identify the individuals that have the potential to provide justice to their role in the organisation and give their best to achieve the organisational objectives of the firm. The entrepreneur must have executed a talent search in order to determine the individuals that are aligned to their work and are ready to do give their best (Audretsch, 2012).In order build an effective team, James Dyson musty have practised collaborative exercises in order to enhance the coordination and cooperation among the diverse individuals so thateffectivemanagementofthefirmcanfacilitateanditcanenhancetheoverall productiveness. The organisational requirement must have been assessed by the management and in accordance with the same varies job roles as well as specification have been developed. A good amount of time is needed to be invested in the team building so that individuals get to know each other better and the management identify the strengths and well as the weaknesses of the same. Explain the entrepreneur’s role as leader and what it takes to become a successful leader Entrepreneur needs be play a variety of roles in the organisation in order to enhance and upgrade the effectiveness of the same. It is very necessary for an entrepreneur to emerge as an excellent leader in order to manage and organise the workforce in a productive way so that maximum output can be achieved through the same. The entrepreneur needs to be become a motivating leader so as to influence the the mindset of the employees in a positive manner and encourage the same to achieve higher results for the organisation. In order to become an effective leader, entrepreneurs are required to assess the potential risks that can cause adverse implication on the functioning of the fir. The entrepreneur is also required to optimise the risk in a manner that the impact of the same can be reduced to the minimum (Kirzner, 2015). James Dyson also exhibited
the appropriate leadership skills in order to manage, organise and control the functions of the employees in a manner that their motivation is boosted to render the best potential for the respective business organisation. How did the entrepreneur grow the business (if it is large organisation)? In order to grow the business, James Dyson formulated, developed and implemented various strategies within the organisation. The primary strategy of the respective individuals to market the product and services in a way that maximum awareness is generated among the target consumers in the market. He also concentrated upon the development of innovative products have not been catered before to the customers. Marketing operations of the firm were accelerated so as to enhance the interest of the consumer towards the proposed offering of the firm. The two major stargates that facilitated in the growth of the products and services in the market are mentioned below ;- Product development was one of the major strategies adopted by James Dyson. It involved addition new specification and modification in the productline at regular intervals in order to enhance the quality and utilisation of the products and services (Sexton, and Smilor, 1986). Market penetration was also exercisedby the entrepreneur. Earlier the organisation used to invest in the home appliances but later on they adapted to the development of hair appliances as well in order to penetrate into a different industry. Various advertisement and promotional tactics were also capitalised by the entrepreneur in order to crate the demand for its products and service in the market and to sell the offering to the maximum number of individuals so that the revenues can exceed the expense undertaken for the managerialas well as the operationalactivitiesand functions of the concerned business enterprise. Also, the support of the well wishers as well as the staff member of the company helped James Dyson to enhance the growth and expansion of its organisation.All in all, there were various growth ideas and tactics adopted but James Dyson to build the Dyson empire. Currently, the organisation is scattered all across the world and it has been possible due to the efforts made by entrepreneur and his determination to achieve the vision that he set out at the initial stage of the organisational development. About Contribution to the Economy and Society Discuss and evaluate the contribution to the economy
Incorporation of Dyson has facilitate major contribution in the development of economy as well as the society. Some of the steps taken by the organisation to uplift the standard of society and economy are mentioned below :- With the establishment of Dyson, the company has opened the door for various types of employment opportunities for the general public (Schumpeter, 2000). Every individual is given forto apply for the job role and various vacancies areopened every year in order enhance the employment rate and give the chances to new and talented individuals who are looking forward to a good opportunity in their career. Hence, the company is uplifting the economy by facilitating the employment in the society. The business practices of Dyson has also contributed in enhancing the standard of living in the societyasthecompany'sbusinessoperationshashelpedvariousindividualstoenhance economical stable to fulfil their various dreams and aspirations. Hence, it can stated that the standard of lining in the economy can be validated with the enhanced focus of the organisation on providing various essential sources to the employees through which they can uplift their livelihood for betterment. Dyson is an organisation that enjoys a huge business all across the globe. The company regulates business firm in various big countries where there is a high demand for the products and services delivered by the respective organisation. Hence, it can be termed that the business operation of Dyson has helped to alleviate the growth development rate in the economy as it has been able to run successful venture all across the world. Business helps in developing infrastructure in the society. The business functions of Dyson has alsofacilitatesinthedevelopmentofvariousinfrastructuralfacilityinthesociety.The infrastructural development is an important aspect of societal development. So, it can be termed that the Dyson organisation has led to the enhancement in the growth and development of the infrastructure within the society so that maximum individuals can leverage from the same. The company's recruitment policy is quite productive as it provides equal opportunity to all the candidates irrespective of their background, culture and gendered. No candidate is discriminate upon their caste creed and colour in he organisation (Parker, 2018). These organisational policies and practices has helped the organisation to lead a major impact within the society and influence the other individuals and firms to practice equality and justice.
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Dyson can be characterised as an innovation driven organisation and all the practices and procedures of the firm are executed with the utilisation of innovation and creative tools and techniques in order toproduce goods and service that are creative attractive and provide innovative solutions to the individuals. Innovation helps to enhance stature of the society and gibe rise to new possibilities that can alleviate the further prospectus within which society. Dyson's constant need for implementingand executing innovation has helped to enhance the standard of the society. It has also provided inspiration to the other individuals and organisation to concentrate upon the innovational tactics in order to increase their business as well as probability as well as the accomplish the needs and requirements of the society. Dyson has also provided assistance in the growth and sustainable solutionsby coming up with new and advanced concepts now and then. The business organisation has always focused upon the by catering quality conscious products and services in the same. The company carry out its business operations in an ethical manner. The organisation has always given important to credibility an authenticity in order to win the loyalty and strut of the society to engage with the same n accordance with legal considerations Dyson has also engage itself with various non profit organisations and initiatives in order to provided assistance in upliftment of weaker section of the society (Gartner, 1990).The company has donated huge amount money in various sociocultural initiatives that can help the non privilege people to fulfil basic livelihood. Evaluate the survival issues (due to the global pandemic) Covid 19 has impacted various multinational organisation in the world and has hampered their business functions in an adverse manner. Dyson can also be termed as an organisation that has beenhugelyimpactedbytheimplicationleddownbytheemergenceofCovidinthe environment. The company incurred a huge amount of loss due to the ongoingpandemic and the operational as well as the management functions of the organisation also got interrupted due to the same. The sale of the products and services delivered by the company suffered a huge low and the the employees working under the company also had to bear the consequences of the prevailing pandemic issue. The employees can be considered as one of the major resources of the organisationthathasshapestheorganisationalprocessandprofitabilityinthemarket environment. The pandemic led to the discouragement and demotivation in the lives of the
employees as most of the same had to leave their jobs in order to go back to their family in the challenging time. Thus, the company was left with a reduce number of workforce. The company needs to regulate the business operations effective with the capitalisation of the workforce in a manner that its can run stable operations that can help the company to lead the recovery process in the challenging period of Covid 19. The reduction ofprofits led to a huge loss within the organisation which resulted in poor financial performance of thesame. The financial stability and budget was also realigned and various reforms and policies were implemented within the same in order to build a financial budget that could helped the company to facilitate its survival strategies The company's expansion strategies also effected due to the pandemic ad the amount invested by the organisation in order to facilitate the expansion of the same also went into loss. The growth and sustainability of the firm got affected by the pandemic. Overall,it an stated that Coronavirus spread was a huge drawback for the firm and the company faced various issues and concerns relation with facilitating survival as well as stability in the market environment. CONCLUSION From the above analysed information, it can concluded that Dyson organisation has become a huge success due to the contribution of James Dyson in relation with the formation to the success of the business. The company has come long way with the enhanced contribution of James Dyson. The organisation has paved its way to become one of the most successful business units in its respective market industry. The entrepreneur ofthe company has played the role of a leader in order to encourage and lead the employees of the organisation in a right direction. The company has also helped in alleviating the economy as well as the society by formulating products and services that has helped to satisfy the needs of the individuals all across the globe. The pandemic also imposed various threats to survival of the organisation but the company overcame all of the obstacle with the implementation of contingency plans ans survival strategies Hence, it can concluded that James Dyson idea has proved to be a major success in the industry and the company's business operations are likely to develop more in the coming future.
REFERENCES Books and Journal Hisrich,R.D.,Peters,M.P.andShepherd,D.A.,2017.Entrepreneurship.McGraw-Hill Education. Kuratko, D.F. and Hodgetts, R.M., 1997.Entrepreneurship. Harcourt College. Dollinger, M., 2008.Entrepreneurship. Marsh Publications. Eckhardt,J.T.andShane,S.A.,2003.Opportunitiesandentrepreneurship.Journalof management,29(3), pp.333-349. Shapero, A. and Sokol, L., 1982. The social dimensions of entrepreneurship.University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship. Kuratko, D.F., 2009.Introduction to entrepreneurship(pp. 2-30). Australia and UK: South- Western. Audretsch, D., 2012. Entrepreneurship research.Management decision. Kirzner, I.M., 2015.Competition and entrepreneurship. University of Chicago press. Sexton, D.L. and Smilor, R.W., 1986. The art and science of entrepreneurship.University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship. Schumpeter, J.A., 2000. Entrepreneurship as innovation.Entrepreneurship: The social science view, pp.51-75. Parker, S.C., 2018.The economics of entrepreneurship. Cambridge University Press. Gartner, W.B., 1990. What are we talking about when we talk about entrepreneurship?.Journal of Business venturing,5(1), pp.15-28.
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