Company –Dyson ltd Topic –Innovation and Strategy | |
Tutor- Wendy Phillips|
The use of Innovation – Dyson Ltd2
Technology Push or Market Pull4
Radical and Incremental Innovation11
References in Alphabetical order13
Technology plays a vital part in the way businesses operate in modern times. It has had tremendous impact on industrial development, productivity, growth and the rising standard of living Abernathy and Clark, (1984).The use of technology on its own has identifiable benefits, however it produces immense value within an organisation when it is harnessed and commercialised effectively. The use of Innovation – Dyson
Innovation is now considered to be a fundamental prerequisite for competitiveness and economic well-being. In most major industries, innovation has almost become less risky as both consumer and industrial markets have come to expect regular changes and improvements to products. Most firms find it profitable to make innovation their grand strategy (earce and Robinson, (2004). Gerry Johnson et al, (2008) describes innovation as the involvement of the conversation of new knowledge into a new product, process or services, and the putting of this new product, process or services into use, either via marketplace or by other processes of delivery. This new era of technology is becoming an indispensable enabler of companies’ innovation. For example digital technology is becoming an indispensable element in most innovation strategies and the internet makes facilities available for companies to innovate in ways unimaginable. Just a few years ago, Sir James Dyson, the founder of Dyson Ltd, stated that the formula to an innovative company is creativity plus iterative development. This essay will address the theoretical concepts, models, strategies and framework of innovation. Theories examined will be based on Dyson Ltd. I will evaluate how Dyson survives and maintains its competitive advantage. Johnson et al (2008: p, 325) states that for private sector organisations operating in increasingly competitive markets, innovation is often a condition of simple survival.
Dyson Ltd is a British technology company that designs and manufactures vacuum cleaners, hand driers, blade fans and heaters. Dyson Ltd, the Wiltshire based company, was founded by a serial investor and Sir James Dyson of whom the company is named after. Sir James Dyson was influenced by Thomas Edison, the American inventor and businessman who invented the light bulb. Dyson was inspired by Edison’s attitude of inventing and developing/improving the work he and others invented. Dyson utilised Edison’s step by step approach to developing and improving items produced; he made a single change to the prototype to perfect his invention. In the 1970’s, Dyson launched the G-Force Dual Cyclone vacuum cleaner. Dyson Appliance Ltd made its name with its vibrant, eponymous vacuum cleaner, which had the unique selling point of not requiring dust bags like other vacuums cleaners. This vacuum invented by Dyson made history by using root cyclone technology. According to market research group GFK, Dyson is the market leader for vacuum cleaners in the US, Canada, Australia, France, Belgium, Spain, Switzerland, Ireland and New Zealand.
Technology Push or Market Pull
Dosi, (1982 stated that technology-push (TP) and need pull (NP) are the core motivation and driving forces behind the innovation of a new technology.
The TP suggests that innovation is driven by science and therefore drives technology and application: Scientific discovery triggers the sequence of events which ends in diffusion or application of the discovery. Dosi (1982) affirms that rather than the market being driven by the customers, innovation stems from the...