Analyzing Innovation at Dyson: Future Capabilities and Strategy Report

This report examines Dyson's approach to innovation within the technology industry, focusing on its strategies and future capabilities. It begins with an introduction to innovation and its importance, followed by an analysis of the industry's future and Dyson's role in it. The report explores Dyson's i...Read More

MANAGING INNOVATION
IN BUSINESS

TABLE OF CONTENTS
Introduction Purpose of report and Structure..................................................................................1
The future of the industry 2020 and Beyond...................................................................................1
The Organisations Innovation Requirements 2020 and Beyond.....................................................2
Building the Future Innovation Capabilities for the Organisation..................................................3
Conclusion.......................................................................................................................................7
REFERENCES................................................................................................................................9

Introduction Purpose of report and Structure
Innovation can be defined as a kind of creative thought, idea or imagination that can be in
form of a method, device or a product. It is one of the mostly important factors which is required
to be focused upon by an organization so that they can fulfil new needs, requirements of
customers and fulfil changing market needs (Kahn, 2018). This assignment will lay emphasis
upon ways in which Dyson organization manages innovation that helps them to remain
successful. Dyson is a British technological organization that was founded in 1991 by James
Dyson whose main headquarter is in Wiltshire, England. They manufacture home appliances
such as vacuum cleaners, hair dryers, hand dryers and many more. They have approximately
12000 employees working for them.
The main purpose of this report is to identify ways in which innovation is managed
within business. Overall structure of this report is: introduction and purpose of the report, future
of technology industry in 2020 and beyond, ways in which innovation is used in business and
what is its future. In this further need of innovation in Dyson company has been explained in
detailed manner. in this assignment further innovation capabilities of Dyson Organization will be
discussed in detailed manner. Lastly this repot will provide overall conclusion of the report.
The future of the industry 2020 and Beyond
It has been analysed that Dyson comes in information and technology industry. The
future of this industry is really bright. They are coming up with new innovations so that
consumer satisfaction can be increased. This has assisted them in achieving set target and
objectives. It has also been analysed that IT industry is one of the most prominent industry and
during the time of COVID-19 crisis, the industry has been useful and has made work easier for
so many of the other organisations. It has also been evaluated that in 2020 IT industry has
brought up so many changes. They have introduced concept of Webinar, so this made easier for
teams to communicate virtually during time of corona virus it has assisted company in making
sure that there is no miss-communication and conflict. It has also been evaluated that growth of
information technology has been tremendous in 2020 (Gunasekaran, Subramanian and
Papadopoulos, 2017). So many organisations have just started making use of updated technology
and this has assisted them in increasing experience and satisfaction of consumers as well as
employees. This has supported them in achieving set target and objectives. Research suggests
that future of industry is really bright. They can be able to enhance knowledge and experience of
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employees can be increased by providing them with innovative and creative products and
services.
The information technology has made life of people easier. It has also been evaluated that
they are been able to grow because of updating in technology. In future the tasks which were
been done manually are been performed with the help of automation. This has assisted them in
achieving set target and also because of this they have been able to grow. It has also been
evaluated that artificial intelligence has increased the potential of so many businesses. They have
been able to increase potential of business by making use of artificial intelligence. This has
assisted so many organisations in increasing their profitability as well as revenue (Markova and
et.al., 2019). It has also been analysed that various companies have also made use of big data
analytics. By making use of this company has been able to extract better information and it has
assisted so many organisations in enhancing the value and better decisions are being taken. It has
supported firm in growing and also brand reputation has been increased. This has assisted in
achieving set target and objectives. It has also been analysed that companies have made use of
automation to lower down manual work and because of this the machine work has increased.
This has assisted organisation in increasing productivity as well as operational efficiency. This
has helped firm in growing and because of this they have also been able to increase their
productivity. It has also been analysed that information technology has helped company in
growing.
The Organisations Innovation Requirements 2020 and Beyond
Dyson Ltd., best-known as a manufacturer of vacuum cleaners, hand driers and air filters,
posted a surge in revenue driven by demand from so many countries, and revealed a growing
shift toward developing autonomous products. It was being analysed that Continued growth will
help fund the company's bid to build an electric car by 2020. Like for example Dyson is being
looking for grants so that they can build up their future capabilities and innovation. It has also
been evaluated that if adequate grants are being given to company they have future capability to
develop electric car (Baller, Dutta and Lanvin, 2016). It has also been analysed that if firm is
being engaged in making use of the innovative and creative products they are been able to
increase their revenue as well as profitability. It has also been analysed that Dyson is making use
of innovation and creativity in their firm too. They are making use of the innovation so that
employees as well as consumer satisfaction can be increased. This will assist them in achieving
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set goals and targets. It has also been analysed that they are also been engaged in making use of
innovation in their own products too. Like for instance in this they have made use of 360-degree
robotic camera in own vacuum cleaner. This has assisted them in increasing consumer
satisfaction and also they have been able to achieve set target and objectives because of it. It has
also been evaluated that they have also doubled staff members on solid battery technology
(Bessen, 2017).
They are trying to bring new technology so that it is easy for them to enhance and up
build their brand reputation as well as value. IT industry is being engaged in making sure that
better products and services. This has assisted in making sure that consumer satisfaction as well
as employee’s satisfaction is also been increased. It has also been evaluated that Dyson needs to
build up other aspects too, they must make use of E-library so that knowledge and experience of
employees can be increased. This innovation requirement is really necessary for company as it
will assist them in increasing their profit as well as revenue. It has also been evaluated that
without making use of information technology, no companies can perform. So it is really
necessary that Dyson make use of updated technology. They can also make use of E-buddy for
recruiting employees through online platforms. This will assist organisation in growing and also
because of this they will be able to achieve goals and objectives. It has also been evaluated that
they should also be involved in fulfilling the innovative requirements so that brand value as well
as reputation of company can be increased. This will assist in achieving set target and objectives.
It has also been analysed that it is really necessary to fulfil the requirements as it will assist in
attracting more talented and skilled employees. This can assist in increasing profitability and
revenue of firm.
Building the Future Innovation Capabilities for the Organisation
Innovation capabilities can be defined as ability of an organization to continuously
transform knowledge and ideas into new process, products, services and system in a proper and
effective manner as it directly helps in providing various kinds of benefits to all the stakeholders
of the organization including both internal and external like clients, customers, employees etc.
Focusing upon innovation capabilities can directly help an organization to expand and implement
new technologies in a proper and accurate manner (Nambisan and et. al., 2017). Dyson has
always been an innovative organization who have focused upon bringing innovation within their
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existing products by introducing new features or requirements as per changing needs or
customers or they have focused upon innovation for development of innovative products and
services. They have focused upon adopting advance technology for development or
manufacturing of electronic products and services for their customers. They majorly focus upon
developing their technological capabilities in such a manner that they can continue to bring
innovation within their main technological products and services such as within vacuum
cleaners, home appliances and many more (Behnam, Caglianoand Grijalvo, 2018). In order to
build and strengthen their technological capabilities they need to bring improvement within their
current technological capabilities by adopting new and advance technologies for bringing
improvement within their current technological capabilities. For this they can focus upon
bringing changes within their current product designs as per changing needs and requirement of
customers and for this they can focus upon adopting 3-D printing technology that can be used by
them to develop 3-D design or model of their new and current products so that required changes
can be brought within it.
In order to strength or build up future innovative capabilities that can focus upon
providing advance training to their employees, organization advance development activities for
employees so that their overall strength can be enhanced, new skills and knowledge can be
developed by them (Mikalef and et. al., 2019). This will directly help them in bringing
improvement within their production speed, bring improvement within their overall quality of
products. Providing training to employees will not only help them in increasing overall skills and
knowledge of employees but will further help them in providing innovative and creative ideas
though which overall production cost can be reduced, quality of products and services can be
improved and new needs and requirements of customers can be fulfilled by bringing changes
within their current products and services in a much proper and effective manner. in order to
continue bringing innovation within organization for gaining competitive advantage and
strengthening their innovation capabilities it is important for them to include employees within
their decision- making process. This is majorly because development of new products require
new processes (Weber and Heidenreich, 2018). This can be done by conducting brainstorming
session with employees so that employees can also participate within identification of new and
innovative process though which new ideas can be developed, changes within current processes
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can be brought so that new processes will help and support organization like Dyson to develop
products that can fulfil new needs and demands of customers in a much more effective manner.
Dyson can also focus upon investing more within their research and development
department. Research and development department plays a vital and important role within an
organization as it helps the organization in remaining updated within current changing market
trend, customers preferences, competition level. In other words, it helps an organization to
remain updated with new and important information and use that information bringing some new
changes within their current products and services (Ndubisi and et. al., 2020). Dyson has an
exceptionally good technology team. They should focus upon inviting more on research so that
they can identify need of training, development programs, for their employees, new technology
which is required to be adopted by them so that they can strengthen their current organizational
capabilities. Focusing upon research will further help Dyson to develop a road map that will help
in providing useful information to firm about their customers and competitors so that they can
develop their own plan, set new directions for company and develop strong relationship with
their suppliers and customers in order to gain competitive advantage. So, it can be said that
development of a road map is extremely important for an organization to build strong future
innovation capabilities (Mikalef and Krogstie, 2020). Road map development can also help an
organization to identify and bring new thoughts and approaches that can help them to achieve
exceptional results. Dyson can develop an effective road map for developing or building
innovative capabilities for future in few main steps: first of all they need to develop corporate
leadership principles for organizations as an effective leader can help an organization to
successfully move towards success. Second is to develop new objectives for the organization that
can help them to expand successfully. Third is to get and develop a pool of resources so that all
the jobs or task within the organization can be done completely. To focus more upon key
managing personalities and executives so that they remain motivated committed and responsible
towards growth of the organization (van de Wetering, Mikalef and Helms, 2017). Last is to
motivate employees so that they can focus upon bringing improvement within their skills and
knowledge continuously so that they can contribute towards development of innovative
capabilities of organization.
It has also been identified employees plays a vital role in development of strong
innovative capabilities of an organization. Overall performance of employees directly impacts
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busing of innovative capabilities in both positive and negative manner. in order to enhance
overall performance of employees it is important to motivate employees and in order to motivate
employees it is extremely important for organization to focus upon adopting effective leadership
strategy (Vu., 2020). As one of the main and primary responsibility of leaders is to motivate their
employees so that they can focus upon bringing improvement within their overall performance.
This can be done by evaluating overall performance of employees, providing them with feedback
regarding their strengths and weaknesses so that they can positively work upon bringing
improvement within their overall performance.
Dyson is able to manufacture and develop new technological home use products that can
help in making household work much easier for people. It is their main strength area which has
helped them to grow and can do it in a more precise manner (Maldonado-Guzmán and et. al.,
2019). They can focus upon developing this area in a much better manner by developing a new
process though which they can focus upon development of new products and services and
strengthen their future innovative capabilities. For this they can focus upon developing an
innovation roadmap in order to build future capabilities of the organization. Below diagram will
help in explaining innovative road map that can help Dyson to strengthen their current innovative
capabilities.
Figure 1 Innovation Road map
In this road map tow things are important to be focused upon and should be kept constant
first is alignment of leadership with organizational goals, objectives and development.
Leadership plays a vital role for an organization developing innovative capabilities as they can
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help an organization in identifying need of innovation, ways in which it can be achieved and
worked upon, or ways in which innovation can be driven within an organization. Another
important aspect of this innovation road map is to maintain communication among employers
and employers, and maintain engagement of employees within whole process of innovation
capability development (Maldonado-Guzmán and et. al., 2019). Establishing accurate
communication between management and employees can help leaders to communicate
importance of innovation to employees, ways in which it can be achieved and driven within the
company in a proper and successfully manner. Leaders of Dyson can focus upon developing
strategies so that they can maintain effective communication with their employees. This will help
them to identify and communication main goal of achieving competitive advantage and gaining
sustainability so that employees can remain aligned with the main goals of the company. This
will help leaders to analyse current organizational resources, technology used by them so that
they can develop teams who can work upon enhancing overall performance of employees,
snapshot innovation needs and work on it (Maldonado-Guzmán and et. al., 2019). This will
further help in providing an overview to leaders to that they can develop a 3 to 6 months iterative
strategic plan in which work on innovative goals and objective will be done in order to achieve
main developed goals and objectives. But in order to develop final innovative capability an
achieve excellent results it is important for leaders to keep this whole process transparent, focus
upon providing required resources to employees so that strong capabilities for future can be
developed and main goals and objectives can be achieved by organization. So, it can be said that
in order to develop or build innovative capabilities of Dyson it is important to adopt effective
leadership, enhance overall performance of employees, motivate then, provide training to them
and communicate important and required goals and objectives with employees in a proper and
accurate manner. in order to become successful, it is important for them to develop their
technological capabilities in an effective manner.
Conclusion
From the above assignment it has been summarized that it is important for an
organization to focus upon innovation as it cannot only help them to sustain within changing
marketing environment but can also help them to become successful and gain competitive
advantage in a proper and effective manner. For a technological organization it is extremely
important to focus upon innovation as it helps them in remaining competitive within market and
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gain competitive advantage. It is majorly because in this sector needs and requirements of
customers changes continuously and focusing upon innovation can help them in enhancing
overall satisfaction level of customers. It has further been analysed that that are many future
innovative trends that can help an organization like Dyson to achieve success and overall
satisfaction level of customers. Some of them in artificial intelligence, big data etc. these are
some of the main future trends that has increased overall innovation capabilities of organization.
It can directly help an organization in enhancing their overall capabilities, enhance brand
reputation. It can also help organization in identifying main innovation can abilities which is
required to be developed by an organization. Working upon identifying future innovative trends,
innovation capabilities required to be developed and innovation required that are required to be
focused upon in order to achieve their main innovation goals and objectives. Identification of
innovation requirement can help an organization in identifying ways in which they can make use
of innovative thinking and ideas for bringing improvement within their current processes
products and services in a proper and effective manner. this further helps an organization to
make use of their innovative ideas and processes in a proper manner that can help them in
achieving main sustainability goals and objective.
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REFERENCES
Books and Journals
Baller, S., Dutta, S. and Lanvin, B., 2016. Global information technology report 2016. Geneva:
Ouranos.
Behnam, S., Cagliano, R. and Grijalvo, M., 2018. How should firms reconcile their open
innovation capabilities for incorporating external actors in innovations aimed at
sustainable development?. Journal of Cleaner Production. 170. pp.950-965.
Bessen, J., 2017. Information technology and industry concentration.
Gunasekaran, A., Subramanian, N. and Papadopoulos, T., 2017. Information technology for
competitive advantage within logistics and supply chains: A review. Transportation
Research Part E: Logistics and Transportation Review, 99, pp.14-33.
Kahn, K.B., 2018. Understanding innovation. Business Horizons. 61(3). pp.453-460.
Maldonado-Guzmán, G., and et. al., 2019. Innovation capabilities and performance: are they
truly linked in SMEs?. International Journal of Innovation Science.
Markova, O. and et.al., 2019. Implementation of cloud service models in training of future
information technology specialists.
Mikalef, P. and Krogstie, J., 2020. Examining the interplay between big data analytics and
contextual factors in driving process innovation capabilities. European Journal of
Information Systems, pp.1-28.
Mikalef, P., and et. al., 2019. Big data analytics capabilities and innovation: the mediating role of
dynamic capabilities and moderating effect of the environment. British Journal of
Management. 30(2). pp.272-298.
Nambisan, S., and et. al., 2017. Digital Innovation Management: Reinventing innovation
management research in a digital world. Mis Quarterly. 41(1).
Ndubisi, N.O., and et. al., 2020. The effects of complementarity of knowledge and capabilities
on joint innovation capabilities and service innovation: The role of competitive intensity
and demand uncertainty. Industrial Marketing Management. 89. pp.196-208.
van de Wetering, R., Mikalef, P. and Helms, R., 2017. Driving organizational sustainability-
oriented innovation capabilities: a complex adaptive systems perspective. Current
opinion in environmental sustainability. 28. pp.71-79.
VU, H.M., 2020. A review of dynamic capabilities, innovation capabilities, entrepreneurial
capabilities and their consequences. The Journal of Asian Finance, Economics and
Business (JAFEB). 7(8). pp.485-494.
Weber, B. and Heidenreich, S., 2018. When and with whom to cooperate? Investigating effects
of cooperation stage and type on innovation capabilities and success. Long Range
Planning. 51(2). pp.334-350.
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