Entrepreneurship Report: Dyson Company Analysis and Leadership Study

This report provides a comprehensive analysis of entrepreneurship, focusing on the Dyson company. It begins with an introduction to entrepreneurship, defining its key aspects and types, and then selects Dyson as a case study. The report delves into the personality traits of James Dyson, the founder, and explores the importance of innovation within the company. It examines Dyson's product launches, technologies, and their impact on the market. Furthermore, the report discusses the role of entrepreneurs as leaders, highlighting leadership qualities and strategies for business growth. It also addresses the company's contribution to the economy and society, along with survival issues such as fluctuating market demands and the impact of external factors. The report concludes with a summary of the key findings and insights into Dyson's entrepreneurial journey.

Entrepreneurship
Assessment

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................5
Task 3...............................................................................................................................................7
Contribution to economy and society..........................................................................................7
Survival issues.............................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship is the ability as well as readiness to organise, develop and to run an
enterprise, along with any of their uncertainties in context to earn a profit. Starting of new
business is the most suitable example of entrepreneurship. In terms to economics,
entrepreneurship is related to capital that was introduced in the business, natural resources, land,
labour etc. with the intension to generate a profit. There are four type of entrepreneurship that are
present in the business environment such as Small enterprise, scalable start-up firm, social
entrepreneurship, large company etc. The organisation that was selected in this project is Dyson
as it is established in 1991 by James Dyson in the state of United Kingdom. House hold
appliances which it manufactures are hand dryer, heaters, lights, hair dryer, blade less fans,
vacuum cleaner. The brand had its headquarters in Amesbury, UK. The Chief Executive Officers
of the enterprise is Roland Krueger. The report cover various topic in which analysis and study is
done. Such as definition of entrepreneurship and who are the entrepreneur of chosen company
and what were their personality traits it was also discuss. Explain why innovation is important
and which services or product are launch by industry in the competitive market. Discussion
regarding the role of entrepreneur as a leader and qualities that help to become a most successful
leader are also explain in this assignment. How employer leads to expand as well as grow their
business are tends to discuss in this project. The topics related to contribution to the economy as
well as survival issues are also explain in the respective assignment.
TASK 1
Dyson has most powerful suction of any vacuum. It manufacture various appliances that
are related to house hold. The entrepreneur of the brand is James Dyson. As he is commonly
known as investor of the Dual cyclone bag less vacuum cleaner, that works on cyclonic
separation principle basis. Dyson having grown impatient by clogged air filters in their ball
barrow factory, and tends to develop a cyclone particle collector that are most common to
devices that are most commonly used in industrial plant which is large in size like saw mill.
Through adapting this solution to home vacuum cleaner, for 5 years he worked and almost tested
around five thousand prototypes before producing a model which is satisfactory that swirled
incoming dirty air around cylindrical container, here through centrifugal force separation of dust

become possible. entrepreneur have the following personality traits such as Discipline, self-
awareness, resourcefulness, creativity, empathetic, communicative, process oriented, flexible,
confident, resilient, risk taker etc. If owner has great sense to self-awareness than it is become
easy for them to achieve success and with the help of it only strength & weakness can be
observed by employer. Another advantage of it is to improve one's ability for the purpose to
receive, provide as well as apply the feedback which is most significant. The most essential trait
that must possess entrepreneur is empathy. With soft skills business owner connect to various
benefits like customer loyalty, etc. Every leader must have excellent communication skills so
that it reduce the chance of misunderstanding, miss interpretation etc. entrepreneur must have
effective listening skills so that opposite party also try to express their views or innovative ideas.
When entrepreneur decides to launch new item to competitive market than he should speak
confidently and clearly so that they can easily introduce the product by communicating product
features to audience. Entrepreneur must have good convincing skills so that they can attract large
number of audience towards their product which tends tends to make positive impact on sales
and revenues of the organisation which indirectly leads to increase the chances of business
growth and survival. On the other hand, in context to their approach if owner is flexible that
they are capable to take benefit of various new opportunities. When employer has power or skills
to take risk than they can find new smart methods to make themselves different from their
competitor. When they are interested to take risk that he will be eligible to learn lesson that are
most valuable because it help organisation in long term. Owner who are capable to solve the
issues and who think out of box at the time to face business challenges than it become possible
for them to quickly pivot as well as to implement the solutions that are necessary to implement
for the purpose to business growth.
Knowledge plays a great role when it comes the thought of recognising various
opportunities. Various different factors such as social, economic, technological trend are observe
to analyse existing market so that entrepreneur easily grasp the opportunities. As it is social
process so it relies entrepreneur ability to interact. Five examples that must follow by
entrepreneur to recognise an opportunity are to find out market inefficiency which is noteworthy.
As these methods identify problems for which they are more passionate. Secondly successful
business model is tends to be identify in same type of market. As using the respective model to
introduce their own brand is easy way to success. New approach with context to tried & true idea

are third step to follow, many times audience ask for the product which are not at present offered
to them. On other times customers need something that is similar which is available already, but
better. And at last they act quickly to grab opportunity.
Dyson introduced various product in the market such as technologies, vacuum cleaner, air
blade hand dryer, hair care product, lighting, concentrator washing machine, air multiplier blade
fans & air purifiers, medical care etc. As Dyson digital Motor is a direct current motor, operating
on the switched reluctance principle. The first mass produced version was “X020” and used in
the Air blade hand dryer. On the other hand Dyson root cyclone technology are used in all Dyson
vacuum cleaner from DC07 onward. Intermediary cyclone, Radix cyclone, Level three root
cyclone are the technologies that are used by Dyson.
As innovation is an activity in which something creative is done so that it make the
enterprise differ from other. For business survival & growth it is necessary for organisation to do
innovative thing at regular interval of time so that it provide something different to their
customers which results as to attract huge number of people which leads to business expansion.
It is not easy for company to stay afloat without doing any change or innovation. The factors that
tends to be consider regarding importance of innovation are that it helps organisation to grow,
Innovation keeps company relevant and also it help firm to make themselves differentiate. Every
time technology proves to be a driving factor in the need for change. If in their process company
use innovation than it also help to save resources, time and money and it also give competitive
advantage to other organisation that stuck in their system. There are so many reasons due to
which business tends to remain innovative few example of these are creative development,
continuous improvement, responding to trend as well as competition, brand reinforcement etc.
TASK 2
Discuss the role of entrepreneur as leader and what initiatives must be taken by them to
become a most successful leader.
Strategy of business growth fluctuate greatly depending on opportunities, cost, product,
industries and also to current market outlook. There are so many smart techniques and plans that
are used by entrepreneur for the purpose of business growth and survival.
Role of entrepreneur as leader
As James Dyson the entrepreneur of the brand tend to lead their team members efficiently
that results to grow the venture as large company. James concentrate on whole team

development by setting those targets that tends to stretch workforce ability and also try to create
team spirit between their members. Whereas entrepreneur leader is an individual who tends to
keep the eye on future and time to time effective decision making is done that leads to bring
opportunities which totally new for all. James Dyson thinks issues and try that their team
members also think in the same manner so it can easily brought the solution. The person who is
vision builder should be consider as successful leader. It is their responsibility to motivate the
team members and also share the pictures that have skills to powerful learning so their workforce
leads to work with great vision in their mind. An effective leader engaged in the activity honest
& open communication so they deliver the message or goals to the members. Appreciation,
feedbacks, criticism also provided by them. Between the whole team it tends to create
transparency. Entrepreneur act as leader and must possess positive attitude so members of the
team do not loose satisfaction and feel demotivated. In all the situation whether it is negative or
positive, leaders maintain and keep positive attitude to do control over the circumstances so the
situations can be handle in effective manner.
To become successful leader, entrepreneur must behave bravely than only they are
capable to face uncertainties & challenges and must be ready to give answers regarding the
decisions which they have taken. The trust of their staff is also be gained so team engagement is
tends to be ensured. The leader must possess the quality calmness so that they easily manage the
employees and also in composed way deal with mistakes of members. As in initial days of
working when Dyson start their business than he focused on to develop trust of their team
members so members can easily mutually handle the situations or problems and try to work hard
and gain competitive advantage.
Audience purchasing power is another survival issue that face by organisation . As due to the
reason of pandemic, every person’s income source effects the most as it tend to be reduced or
become zero. Because due to business failure many staff detached from their jobs now they do
not have any income so it become impossible for them to buy any product so they tends to make
cutting on their purchase. Also audience are not even purchasing those items that are their basic
needs as they don’t have sufficient amount to purchase, which make negative impact on
company's selling power. As it is not possible for any business whether big or small to survive

without customers or demands, for survival a business want customers cannot survive who can
buy their items in which enterprise deals.
The offline stores of organisation affected most because audience were dependent on the
online shopping due to existence of pandemic, they are not permitted to move out from their
houses. The cost of maintaining the offline stores affected the operations of the enterprises
because the expenses which are fixed must be given by the entrepreneur such as they have to pay
maintenance as well as electricity cost. It also make unfavourable impact on organisation and on
their revenue due to these reasons, organisation faced hardship to survive.
Another survival issue is fluctuating market demands. Due to pandemic, people tend to
buy products bulks and keep stock of it which affected the stock ratio of the company. The
company was unable to fulfil the demand of major customers as they did not have enough stock
to fulfil all demands. At one instance, the company limited the number of product to three for
each customer so that it can fulfil the demand of each customers. The company even limited its
products on online platform also so that it can manage its inventory. But in few situations, the
company also failed to make proper inventory plan which become the major survival issue for
the company.
Task 3
Contribution to economy and society
To work in an environment where an entrepreneur try to give their best and survive within
industry. As these entrepreneur are work within economy and they are helpful in driving the
source which are used to force society (Davidsson, 2016). In order to complete this assignment
Sir James Dyson is a British investor and they work so hard in order to give UK economy their
best with their major innovation in home appliances. Some of the innovation which are given by
him are hair dryer, vacuum cleaner, sea truck, ball barrow and many types of fan which are
useful and applicable for the society. Some of the contribution to the economy are given below:
 Economic growth: A successful entrepreneur create the growth of economic development
within their country and also at global level. They not create the benefit for their own self
but they help their whole country by improving the economic condition. Either in the
terms of GDP, NDP or increasing foreign business trade within country. Dyson’s

entrepreneur are the one who treat the global economy by producing more and more
electronic items which are not only needed in UK but all over the country.
 Less unemployment: When a person start their business in market so they are not only
setting their own products but they create more jobs within society. Either a business is
small, medium or large every one create jobs for the unemployed and educated young
people within society. So this is how an entrepreneur start up their own career and take
all of their team members in the direction of growth (Gontareva and et.al., 2020). In
Dyson there are more than 12000 employees are worked as per the record of 2018. And
more employees are employed by the company for the growth of their own self and also
for improving the position of unemployed people.
 Improved public services: High education of an entrepreneur will lead to the success as
they can lead to more tax revenue. This will help the government to spend more money
on the government services like improving health care, education, and many more
services which are improving living being of society within their country. All of these
will be related to higher living standards and solve the issue which are related to the
society and poverty.
 Higher income: An entrepreneur start-up their own business and ready to invest more in it
to make a growth in that. Entrepreneur help the society to earn more money and invest
more. This will directly link and create more wealth creation that seems useful and
improving in market. Dyson create more income opportunities by contributing in
marketing and sales department.
 Invest more in products and services: there is something very important which are only
created by an entrepreneur that is production of goods and services. Customer are
demanding and increasing their nature which are related to the concept of demand and
supply. Customer increase their demand and an entrepreneur are bound to make supply of
completing their demand (Kearney and Meynhardt, 2016).
 Promote innovation: In order to make contribution within society they are the one who
promote more innovation. As there are big different in an inventor or an entrepreneur but
it seems very close that an owner will always promote innovation and increase the
demand. Buyer will invest in product or services which are created or innovate by an
entrepreneur to completing the need of demand. Dyson start his business by just an

vacuum cleaner he is the inventor of the Dual cyclone vacuum cleaner that is actually
work on the concept of cyclonic separation.
Survival issues
Global pandemic has brought various kinds of challenges in front of companies. For
example, for running Dyson, it was challenge to generate safe operational and economic
measures. Like, they have to ensure health and safety regulations at factory and also ensure that
they are able to maintain social distancing between their workers without negatively impacting
productivity. Further, demand and supply were already distorted, logistics and supply chain were
disrupted, all of which had an impact over the profit margin of the company. Company was able
to get some emergency orders but to complete them even, it had to develop more resilience in its
supply and distribution chain. It comes at an additional cost which was heavy in the times when
demand was already low and revenue was uneven (Marvel, Davis, and Sproul, 2016).
Furthermore, global pandemic in the country was not a sole affair in the economic market of the
country.
It was accompanied and aided by the other economic measures that were together able to
cause survival blows to the company like Brexit and the global geopolitical fallout between US
and China which was disturbing its local as well as global market. It was making it difficult for
company to plan any capital expenditure and expect a positive return on capital employed. It was
getting difficult to run large businesses and operate a whole branch network and even change in
marketing policies was rending ineffective (Tejero, Pau and León, 2019). Digitally transforming
its business was also no surety of having ensured that it would not face survival issues in the
future. This is not cyclical changes in the market and therefore, it was getting difficult for
company management to predict what changes the market would make next and what changes it
would require to make in its policies to sustain in the market without having a huge impact over
its survival.

CONCLUSION
After deep study and analysis it is to be conclude that in any organisation entrepreneur
plays a very crucial role. Business survival as well as growth is depends on employer also
because if they use adequate resources, capital or appropriate human resource than only they can
achieve the targets. Without skilled entrepreneur it is not possible to gain competitive advantage.
Standard of living as well as wealth can be improved with effective entrepreneurship only. For
effective result they must follow suitable leadership style so that they can give directions to their
staff or team members properly. Employer must possess some positive qualities so that with the
help of these qualities they satisfy their team and achieve objectives on time. Also for business
survival, innovation plays a significant role. To increase efficiency, talent retention as well as
attraction and brand perception is possible only if innovation is done by enterprise. On the other
hand it is also noticed that global pandemic also affect negatively on entrepreneur as well as on
firm. It tends to reduce the sale up to 60% which indirectly reduce revenues also. So chances of
business failure is increase due to Coved 19. Also due to this various survival issues are face by
the organisation.

REFERENCES
Books and Journals
Davidsson, P., 2016. The field of entrepreneurship research: Some significant developments.
In Contemporary entrepreneurship (pp. 17-28). Springer, Cham.
Gontareva, I. and et.al., 2020. Efficiency of Information Management and Analysis for Industrial
Entrepreneurship. Journal of Information Technology Management, 12(3), pp.4-13.
Kearney, C. and Meynhardt, T., 2016. Directing corporate entrepreneurship strategy in the public
sector to public value: Antecedents, components, and outcomes. International Public
Management Journal, 19(4), pp.543-572.
Marvel, M.R., Davis, J.L. and Sproul, C.R., 2016. Human capital and entrepreneurship research:
A critical review and future directions. Entrepreneurship Theory and Practice, 40(3),
pp.599-626.
Tejero, A., Pau, I. and León, G., 2019. Analysis of the dynamism in university-driven innovation
ecosystems through the assessment of entrepreneurship role. IEEE Access, 7, pp.89869-
89885.