Entrepreneur James Dyson - Case Study Example

Student Name: Tutor: Title: Entrepreneur Course: Entrepreneur James Dyson Introduction James Dyson is well known for the invention of vacuum cleaner that did away with the replaceable bag that meant additional costs to consumers. James Dyson was born in 1947 in Cromer, England. At a young age he was a long distance runner. Dyson asserted that he mastered the quality of determination from here. He studied interior design and furniture design from the Royal College of Art in 1966 to 1970. It is during his days at this college that the idea of coming up with a cyclonic separation in a vacuum cleaner was born. He wanted a vacuum cleaner that did not reduce its suction quality while picking up dirt. He started creating prototypes of what he wanted. Dyson went ahead to invent a vacuum cleaner that was bag-less hence beating his competitors at their own game. He marketed the device in Japan after the refusal of companies in Britain to buy his idea (Garon, 2007). The product was successful in Japan winning a prize in 1991. This paper discusses various elements from James Dyson that made him to become a great entrepreneur. The history, development and growth James Dyson and what made him successful James Dyson is British inventor, entrepreneur and industrial designer born on 2nd of May 1947. Dyson successfully manufactured household appliances and he is a determined campaigner of engineering and technical innovation restoration to high esteem within the British society. Dyson attended prestigious Gresham’s schools in North Norfolk. After graduating he proceeded to London where he enlisted on the Byam Shaw School of Art for one year. He studied furniture and interior design from 1966 to 1970 at Royal College of Art. At this institutions he was introduced the innovative possibilities of merging engineering with design. In 1970 he worked for Rotork Controls Ltd in Somerset where together with the company’s unconventional chairman, Jeremy Fry, they designed and subsequently produced the Sea Truck (Wagner, 2012). This is small, versatile flat-bottomed fiberglass landing craft to be used by both civilian and military customers. In 1974 Dyson went ahead to form his own company for producing Ballbarrow that is plastic wheelbarrow-like bin that operated on a load-spreading than using a narrow wheel. Role of Dyson family and socio-cultural background in his entrepreneurial passion The family and socio-cultural background has played a role in Dyson’s entrepreneurial passion. His father, Alec, was a teacher and Dyson must have learnt great lessons from his father that enabled him to focus on a career in arts and engineering. He was born in a stable family and he attended prestigious schools that his father could afford (Dyson & Coren, 1997). He attended Byam Shaw School of Art in London and further he attended the Royal College of Art in the same city. Attending these renowned educational institutions gave Dyson a chance to develop his passion for art, engineering and design. He had an inner talent that was promptly nurtured through attending the right schools at the right time. He had parents who supported him and understood his passion for art hence taking him to art schools. Through interactions with his fellow students and the kind of people he met in these prestigious schools shaped his destiny as an inventor (Sisson, 2013). He ended up marrying Deirdre Hindmarsh who is a teacher and a painter. Considering her career, they must have met in the line of their duty of art or design. She got a partner who understood his needs and aspirations and hence they supported each other in growing the family company to the current stature. Type of businesses that James Dyson developed and the competitive advantage of the business James Dyson is a businessman and inventor who through hard work and many prototypes invented the bag-less vacuum cleaner and marketed and sold the product successfully. He has persisted to market innovative designs like the Dyson hand-driers. In 1978, Dyson having been frustrate with clogged air filters in the Ballbarrow factory, he came up with a particle collector resembling devices that are used in huge industrial plants (Markides & Geroski, 2004). He adapted this device to a home vacuum cleaner and worked for another five years testing more than five thousand prototypes before settling on a satisfactory model that sucked dirty air around a cylindrical container. The dust was then separated by centrifugal force and then settled by gravity whereas the purified air escaped from the top. Traditional bag-type vacuum cleaners’ makers showed no interest at all in Dyson’s bag-less model device triggering in him a permanent antipathy towards conventional business. Dyson sold the device to a company in Japan where is became a huge success and went ahead to win a prize in 1991 (Brown,1998). Dyson put up a plant in North Wiltshire in 1993 and within a period of 2 years his model of was the top-selling vacuum cleaner in Britain. This was the case regardless of the fact that the vacuum cleaner cost more than the other brands. Dyson is a very brilliant as well as exceptional designer. His ardent love for products makes him stands out-he is concerned about the product presentation, its performance and how it can be made different (Bolton & Thompson, 2013). His bag-less vacuum cleaner stands out since the consumer does not have to spend more money to reusable bags or buying other bags. The vacuum cleaner invented by Dyson is exceptional and other companies have tried to copy it and the matter has ended up in court. The consumers of other cleaners had to continue purchasing replacement bags. This was not the case with Dyson invention. Dyson Dual Cyclone grew to become the fastest-selling vacuum cleaner. The fact that it is bag-less it makes it very convenient for many users who were tired of replacing the bag hence extra cost (Manning, 2000). Dyson has a brand that can be recognized globally considering the positive reception in Japan. The market share is formidable and the customer loyalty has been building over time. The vacuum cleaner is efficient and provides convenience to the users as compared to the others in the market. Future suggestions for James Dyson including different types of businesses or avenues Dyson continues to amaze with his zeal and commitment to new product development. He has promised to venture into software and robots announcing a further investment of £1.25 billion. The robots will clean floors and carry out other domestic chores when the homeowners are not around. He also foresees Dyson technologies being harnessed in revolution of techniques of farming (Gow, 2000). There are many ideas that Dyson can use to expand his business empire. Acquisitions and franchising can help to expand the impact of Dyson’s company in the global economy. Dyson can consider going public in order to get more money to expand on new product development and compete effectively with other multinational companies across the world. A public company has more access to capital financing as compared to a private company that will depend majorly on personal saving and reinvesting back profits for expansion. Dyson private company will benefit from experienced and skilled management that only depending on family as personnel when it is public company (Lees-Maffei, 2015). Offering shares to the public will open more financial resource to fund for any other business idea or new product development. Dyson has to diversify his business empire both geographical and terms of capital financing. He can put up plants in other countries where the labor cost is low and access to raw materials is guaranteed. SWOT Analysis Strengths -Ability to develop authentic new products -Easy management hierarchy in the company -strong financial base -strong global brand Weakness -mushrooming of products from convention business -infringement of copy right by competitors and lawsuits that consume time -imitations by other companies Opportunity - Availability of alternative source of capital -There vast opportunities in creative technology for Dyson -acquisition and mergers can expand the business empire Threats -Emergency of efficient new product -Increased competition from convectional businesses that offer cheap prices -Depletion of resources -Exposure to global economic pressures Conclusion James Dyson is revered for the discovery of the bag-less vacuum cleaner that became popular among many consumers in Japan and Britain. His invention was not quickly appreciated within Britain and he sought market in Japan. After changing the marketing strategy and emphasizing more on performance of the product, there was positive response in the British market where the vacuum cleaner become top-selling product despite it being slightly expensive than traditional brands. Dyson’s background prepared him for the life of an entrepreneur and his father and family supported his ideas. He went to good schools and learned science and arts which gave his a strong foundation for innovation. Dyson revised the innovative spirit within Britain and having participated in long distance running he nurtured the quality of determination. His wife supported his idea and she was interested in his career. Dyson became a successful entrepreneur. References Bolton, B., & Thompson, J., 2013, Entrepreneurs: Talent, Temperament and Opportunity, Routledge, London. Brown, K., 23 November 1998, "Business leaders give big boost to pro-euro lobby", Financial Times (London) Dyson, J. & Coren, G., 1997, Against The Odds: An Autobiography, London, UK: Orion Publishing. Garon, J.M., 2007, Own it: The Law & Business Guide to Launching a New Business through Innovation, Exclusivity and Relevance, Carolina Academic Press. Gow, D., 16 February 2000, "Strong pound puts Dyson in a spin: Entrepreneur threatens to take production abroad", The Guardian (London). p. 27. Lees-Maffei, G., 2015, Iconic Designs: 50 Stories about 50 Things, Bloomsbury Publishing, London. Manning, C.16 February 2000, "Dyson: Only Euro can stop me heading East", Daily Mirror (London). p. 8. Markides, C.C., & Geroski, P.A. 2004, Fast Second: How Smart Companies Bypass Radical Innovation to Enter and Dominate New Markets, John Wiley & Sons, London. Sisson, N., 2013, The Suitcase Entrepreneur: Create Freedom in Business and Adventure in Life, Tonawhai Press, Lexington, Kentucky. Wagner, T., 2012, Creating Innovators: The Making of Young People Who Will Change the World, Simon and Schuster, New York. Read More