Author: Bethany Cross
BTEC Level 3 Diploma in Business/Events Management
Unit number and title: Unit 1: Exploring Business
Assignment Title: How important is innovation and enterprise
to today’s businesses?
Date: 31/3/2021
, Research Evidence
What is innovation?
Innovation is the inventive development of a product or service. It is not something that
is thought about incidentally or by chance (a creative process), there is a particular
staged process that the business uses to discover unique and creative ideas.
What is Enterprise?
An enterprise is something challenging, or important that you do or try or aim to do.
Enterprise is a skill and a talent in a way. However, it is simply, the willingness of an
individual or organization to:
Take risks
Show initiative and ‘make things happen.
Undertake new ventures.
Dyson
Dyson Limited is a British technology business created in the UK by James Dyson in 1991.
As a business, they construct and manufacture household electrical devices like hoovers,
air purifiers, hand dryers, bladeless fans, heaters, hairdryers, and lights. It was recorded
that in February 2018, Dyson had more than 12,000 employees internationally. In
January of the following year, it was proclaimed that Dyson would transfer its
headquarters to Singapore to boost manufacturing for their electric vehicle, stating Asia
craft will be their key focus and mentioning that the business was unhappy with EU/UK
bureaucratic restrictions; though, the finish of the EV program was announced on 10
October 2019.
James Dyson studied at the Royal College of Art in the 1960s, where he developed
a love for engineering.
In 2002 Dyson’s company moved to Japan but it was originally established in
Malmsbury Wiltshire.
The company was created over 30 years ago.
Product Development
Dyson’s product development needs innovation and enterprise but also there have to be
logical steps in place that help with the process. In my research I have found that when
they are creating a product of theirs, they may take a less formal approach, there are
several models for product development (NPD), some of these were created by Booz,
Allen, and Hamilton. They create many models of their potential products before settling
for the final product they also go through many stages and tests to ensure that their
products are the best that they can be for their customers. Dyson must establish a
certain strategy that they can use in order to avoid compromising the current business.
Dyson also uses product life cycles very often by putting extensions on their past
products for example their vacuum cleaners are constantly being updated with new
features like easy glide hoovers or easily-to-store compactable products. Dyson’s Digital
Motor and Root Cyclone technology are always being changed and updated to adapt to
the changing needs and wants of their customers.
BTEC Level 3 Diploma in Business/Events Management
Unit number and title: Unit 1: Exploring Business
Assignment Title: How important is innovation and enterprise
to today’s businesses?
Date: 31/3/2021
, Research Evidence
What is innovation?
Innovation is the inventive development of a product or service. It is not something that
is thought about incidentally or by chance (a creative process), there is a particular
staged process that the business uses to discover unique and creative ideas.
What is Enterprise?
An enterprise is something challenging, or important that you do or try or aim to do.
Enterprise is a skill and a talent in a way. However, it is simply, the willingness of an
individual or organization to:
Take risks
Show initiative and ‘make things happen.
Undertake new ventures.
Dyson
Dyson Limited is a British technology business created in the UK by James Dyson in 1991.
As a business, they construct and manufacture household electrical devices like hoovers,
air purifiers, hand dryers, bladeless fans, heaters, hairdryers, and lights. It was recorded
that in February 2018, Dyson had more than 12,000 employees internationally. In
January of the following year, it was proclaimed that Dyson would transfer its
headquarters to Singapore to boost manufacturing for their electric vehicle, stating Asia
craft will be their key focus and mentioning that the business was unhappy with EU/UK
bureaucratic restrictions; though, the finish of the EV program was announced on 10
October 2019.
James Dyson studied at the Royal College of Art in the 1960s, where he developed
a love for engineering.
In 2002 Dyson’s company moved to Japan but it was originally established in
Malmsbury Wiltshire.
The company was created over 30 years ago.
Product Development
Dyson’s product development needs innovation and enterprise but also there have to be
logical steps in place that help with the process. In my research I have found that when
they are creating a product of theirs, they may take a less formal approach, there are
several models for product development (NPD), some of these were created by Booz,
Allen, and Hamilton. They create many models of their potential products before settling
for the final product they also go through many stages and tests to ensure that their
products are the best that they can be for their customers. Dyson must establish a
certain strategy that they can use in order to avoid compromising the current business.
Dyson also uses product life cycles very often by putting extensions on their past
products for example their vacuum cleaners are constantly being updated with new
features like easy glide hoovers or easily-to-store compactable products. Dyson’s Digital
Motor and Root Cyclone technology are always being changed and updated to adapt to
the changing needs and wants of their customers.
