UCIL24003: Art of Enterpise Summative Assignment

Introduction

In contemporary business academia, the concept of entrepreneurial management occupies a

prominent position (Krueger, 2002). Much of the early literature on the construct tended to
regard it as an oxymoron, with the traits associated with entrepreneurship; growth, innovation
and flexibility initially deemed undesirable for large, corporate firms (Stevenson and Jarrillo,
1990) (Roberts, 1980). In recent years, it has become increasingly evident however, that the
successful amalgamation and interconnecting of different operative areas of a business
cultivates sustainability, growth and corporate competitiveness, without the tension arising
from the contrasting implicit values of each model (Kopnina and Blewitt, 2015).

Some postulate that entrepreneurial management uses the fundamentals of management,

while adopting a behavioral style that challenges bureaucracy and encourages innovation and
entrepreneurship (Barringer and Bluedorn, 1999). While Kanter concedes entrepreneurship to
encompass the struggle faced by large firms to remain competitive, Buamol regards it as the
key to economic growth and the diffusion of knowledge within an organization (Baumol,
1986) (Kanter, 1989). Furthermore, whilst there appears to be little concordance on an actual
definition of entrepreneurship, there is wide agreement that it is a process, with the detection
and willingness to locate opportunity at its core.

Drawing on a conception of entrepreneurship based on a notion of opportunity, Stevenson

and Jarillo offer a set of propositions for corporate entrepreneurship, with notable focus on
the pursuit of opportunity, the orientation of employees, the connection of resource networks
and organizational risk-taking (Stevenson and Jarillo, 1990). By systematizing
entrepreneurial behavior and innovation in these ways, it is reasoned that established
corporate organizations will be able to rejuvenate their fortunes, and, more critically, have the
ability to consistently align and adapt themselves to dynamically changing markets
(Haberberg and Rieple, 2001). This idea of cross-functional working is highly advocated for
an organization and it is the precision through which it is able to align its capabilities, that
will ultimately govern its future success (Kanter, 1983).

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Overview

According to Rae, entrepreneurial management (EM) involves the interlinking of

entrepreneurial and managerial skills within an organization, merging innovation and a drive
and process to achieve goals, enact opportunities and generate value in a competitive and
unpredictable market (Rae, 2007, p. 173). Rae’s EM model demonstrates both entrepreneurial
and managerial models of working, in which the elements from each model, work in synergy
(Warren, 2008). While many businesses have been futile in their attempts to amalgamate the
various elements of Rae’s framework, others have essentially transitioned into synergetic
organizational conglomerates.

The purpose of this report is to analyse aspects of both the entrepreneurial and managerial
working of the company, Dyson and explain the significance of each aspect in creating value.
As one of most successful enterprises in British history, to locate both models within the
organizational context of Dyson will serve to corroborate the essentiality for firms, to
implement entrepreneurial management in their strategies.

To begin, a brief profile of the chosen company, Dyson will be offered, followed by an
overview of Rae’s model. Subsequently, the presence of each element of Rae’s model will be
investigated within Dyson and will be analysed to validate the creation of value, according to
Rae’s classification. Rae recognises the creation of new value can take multiple forms
including the development of new market opportunities, the introduction of product, service
or process innovation and growing sales revenue and profit stream (Rae, 2007, p. 175) A
discussion of future recommendations for Dyson will then be provided, drawing on the
entrepreneurial capabilities discussed. Finally, a conclusion will summarise the key findings
of the report.

The Company

Dyson is one of Britain’s most innovate manufacturing firms. Since its establishment in 1987
by engineer and product designer, James Dyson, the company has grown to become an
international leader in the household appliance market, pioneering new technologies and

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continuously working to remain at the forefront of innovation and invention (Boxall and
Purcell, 2016). Dyson’s very first product, the world’s first bagless vacuum released during a
period of stagnation in the vacuum cleaner market, was the result of 5,127 prototypes and 5
years of trial and error testing. Through observation and experimentation, James Dyson
resolved the problems with traditional vacuums, demonstrating his willingness to pilot new
ideas and setting precedent for the future development of new products (Matthews and
Brueggemann, 2015).

Dyson ensures its operations are paralleled to its core ambition “To create better ideas and
better technologies and to find better ways to work in more new markets and bright new
categories” (Careers.dyson.com, 2017). With products sold in 65 countries, business
functions in the UK, Singapore and Malaysia and 7,000 employees including an ever-
growing team of over 1,000 engineers and scientists, Dyson’s operations are highly
expansive.

Consistently working to diversify its product range, Dyson manufactures a multitude of

household appliances including fans, heaters and as of 2016, supersonic hairdryers (Fig 1).
Each product is powered by one of Dyson’s uniquely designed motors and assembled by a
team of robots to ensure micron accuracy.

Fig 1: Dyson’s range of products: Source: (Dyson.co.uk, 2017)

The UK’s biggest investor in robotics and AI, Dyson spent over £7 million per week on new
products and technologies in 2016. With R&D high on the company’s agenda, the last decade
has seen Dyson reinvest £1.7 billion back into the business in the form of R&D and foster

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partnerships with Imperial College London and Cambridge University; resulting in the
launching of some of the most advanced engineering facilities in the world (Pooler, 2017).
Such partnerships were formed in an attempt to catalyse great technological breakthroughs
that transform the way its consumers live (University of Cambridge, 2017). As a result,
Dyson’s competitive advantage lies with its ability to offer outstanding new products that
offer consumers real product advantage (Cooper and Kleinschmidt, 2000).

Despite Dyson’s products retailing for almost 300% more than its competitor’s, Dyson
remained the leading player in the vacuum market for over a decade, holding 21.4% of the
market share in 2016, over 10% more than the second leading player, Vax (Fig 2)
(Euromonitor, 2016). Reported profits for the year 2016, saw an increase of 45pc from the
previous year to to £2.5 billion. Dyson attributed much of this rise in revenue to its decision
to expand into Asia, which alone accounted for over half of 2016 revenue (Satariano, 2017).

Fig 2: Percentage market share by company, UK. Source: (Euromonitor, 2016)

While Dyson has numerous competitors in the market such as Excel, Hoover, Vax and
Samsung, competitive rivalry is low; owing to its wealth of irreproducible resources.
Furthermore, promoting an ethos of problem-solving and creativity and encouraging every
employee to take risks and make mistakes, Dyson nurtures innovation and invention in the
workplace. Coupled with the organization’s, casual, non-hierarchical structure;
communication and ideas flow through the company at all levels.

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Entrepreneurial Management Model

Dyson is a paradigmatic case of an organization that has effectively amalgamated its

entrepreneurial and managerial capabilities and the following sections of this report will
demonstrate each element of the EM model (Fig 3) through reference to Dyson’s workings.

Fig 3: Rae’s Entrepreneurial Management model (Rae, 2007, p. 175).

Rae’s model illustrates the intertwining of the two models to create new value through the
stimulation and meeting of customer demands in new ways. Rae states that a strategy
implementing entrepreneurial management is crucial for the effective development and
management of the entrepreneurial and such strategy will enact opportunities for the
company, enhancing its competitive advantage and sustainability over time (Rae, 2007, p.
174)

Entrepreneurial working

The first element of entrepreneurial working to be investigated is opportunity focus. Rae

states that in this model, the business has a string-opportunity focus, continually searching to
anticipate and identify potential opportunities by remaining in close contact with its chosen
market (Rae, 2007, p.173). For lucidity, an opportunity can be defined as a chance or open
offered by circumstances. Opportunity may arise from a multiplicity of sources such as pure
invention, problem-solving or improvements, however irrespective of the source, the

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opportunity must serve to either create a new need, or meet an unmet need (Ozgen and Baron,
2007). For Dyson, two aspects of its activities will be discussed with relation to its
opportunity focus:

The first is the company’s expansion into international markets. Dyson has successfully
managed to tap the potential of a growing Asian consumer base with an emergent taste for
high-end vacuum cleaners and air purifiers. Founder James Dyson remarked in a recent
interview that the Far East’s thirst for new technology and good design has driven much of
Dyson’s growth. Just three years after entering China, Dyson saw its sales in the region surge
244% (Cuneo, 2017). Furthermore, although development is still located in the UK, Dyson
has adopted a localization approach to its operations in Asia. With local leadership that
focuses on the market, located in the market, Dyson is provided with critical insights
regarding consumer needs in Asia (Pooler, 2017). The company witnessed similar results in
Japan, where Japanese consumers reiterated their commitment to the Dyson brand by buying
30% more of the brands products, illustrating the value created by the pursuit of this
opportunity.

The second is the company’s opening of its first physical store on London’s Oxford Street
(Fig 4), crafted to meet the growing demand for consumer experience. Customers are seeing a
point of difference when shopping on the high-street, and Dyson’s store, adopting an Apple
style approach encourages consumers to try and test its products before purchasing. Bridging
the gap between consumer and experience in the home appliances market, Dyson solved a
problem that its competitors, such as Hoover and Vax, whose products may only be
purchased online or in department stores, are yet to even address.

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Fig 4: Oxford Street Store: Source (Dyson.com, 2017)

The second aspect of Rae’s model, involves the ability of the business to create and
implement new business models, products and services, presented as attractive purchasing
propositions to stimulate customer demand (Rae, 2007, p.174). Dyson has unfailingly
demonstrated its ability to innovate rapidly since the launch of its first vacuum cleaner,
which utilized the previously unemployed technique of cyclonic separation to remove dust.
Prior to the launch of the Dyson DC01 in 1992, there had never been any real distinct change
in vacuum cleaners (Hoover.co.uk, 2017). Reading “100% suction, 100% of the time”, the
promotional tag accompanying the product drew in consumers through its promise of a
perfect appliance offering perfect performance.

The company credits its long running aptitude to survive to its ability to implement
innovation in its core products and technologies (Dyson, 2017). Receiving numerous design
awards and evolving with the demands of consumers, Dyson is distinguished as releasing the
most technologically advanced products in the industry. An example of its ability to innovate
rapidly is the constant evolution of its vacuum cleaners. Detecting the increasing use of
smartphones as commonplace tools, the robotics team at Dyson reimagined the standard
vacuum cleaner in to a fully automatic, cordless 360-eye model that saw the addition of
internet connectivity to allow the connection of the vacuum to the consumer’s mobile (Fig 5)
(Scott, 2017). In accordance with shifting attitudes toward both miniaturization of products
and a more casual approach to cleaning, the new line of vacuum - incorporating a highly
compact digital electric motor and heat-mapping technology, quickly became the fastest
selling vacuum ever, aiding to the company’s sales of over £2 billion in 2016.

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Fig 5: Dyson app and 360 eye robot. Source: (Dyson.com, 2017)

Many suggest that to incite customer demand, products or services must offer benefits which
consumers perceive as new and superior (Doyle and Stern, 2009). Leading the path of
technological innovation, Dyson continues to deliver products that differ from those already
available on the market. In order to further position itself ahead of its competitors and
modernise its products inline with contemporary consumer trends, Dyson employs a team of
young, dynamic and creative engineers (Dyson, 2010).

Dyson’s innovative spirit is arguably a key aspect in its creation of a strong customer
appeal. Pertaining to its high priced products, Dyson’s ability to meld an affinity with its
customer base, knowing that their loyalty is temporary, is critical. (Rae, 2007, p.174). Dyson
possesses a unique brand identity that differentiates it from its competitors; an intangible
resource that adds significant value to its products. Consumers perceive owning Dyson
products as a status symbol and according to a study on attitudes by brand (Fig 6), the brand
stood out as the most innovative and worth paying more for, linking to its reputation as the
“Apple of Appliances” (Mintel, 2016). Franzen claims that consumer-brand relationships are
formed by consumer experience and brand knowledge and this relationship is largely
dependent on the successful establishment of brand personality, attitude and image. (Franzen,
1999)

As Dowling notes, many customers want an involving relationship with the brands they buy
(Dowling, 2002). Dyson provides the opportunity for consumers to become involved with the
brand through a variety of both physical and virtual channels. Those who purchase a Dyson
product are eligible to join the Owner Rewards group, where members are entitled to free

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health checks on products, invited to reviewer programs and are provided with access to over
12 owner rewards events with Dyson employees throughout the year (Dyson, 2017).

Fig 6: Brand characteristic map: Source: (Mintel, 2016).

Dyson’s domination of the industry might also be attributed to James Dyson himself, for man
and brand are inextricably linked (The Independent, 2017). For each new product, an advert
is released with James Dyson explaining the technology and creation process of each product
(Fig 7). Consistently spending over £10 million or more on supporting its latest launches, the
simple yet sleek advertisements serve to contribute to the identity of the brand, which places
sole focus on the sophisticated and futuristic nature of its products.

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Fig. 7: Dyson advert. Source: (YouTube, 2017)

The final component of Rae’s entrepreneurial working model relates to a company’s capacity
to perform dynamically in the market. Using new and existing technologies to engage
consumers in unprecedented ways, continually improving efficiency and quickly discarding
approaches that fail. According to Dyer et al., innovators and entrepreneurs are experimenters
and Dyson founder, James Dyson, was and is by all accounts an experimenter (Dyer,
Gregersen and Christensen, 2011). Cultivating a culture of experimentation in his workforce,
engineers are encouraged to take risks and try things out, a fundamental characteristic of
entrepreneurial behavior (Brockhaus, 1980)

By thinking laterally and re-structuring conventional notions about how products work,
Dyson has been able to reimagine the mundane everyday appliances in order to spectacularly
enhance their utility (The Leadership Network, 2017). By challenging the orthodox, Dyson
has managed to retain and expand its customer base and the company’s entry into the
personal care category is a prime example of its successful implementation of this component
of entrepreneurial working. Despite the stagnation of the hair appliance market, Dyson
debuted its supersonic hairdryer at $450, higher than almost all other products on the market
(Mintel, 2016). Identifying a potential opportunity, Dyson acknowledged the shift toward
natural, healthy hair and marketed the product as one that would protect hair from heat
exposure and reduce damage (Gibbs, 2017).

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Further appealing to its newly-found market base, Dyson released a campaign, capturing the
“sensational” first encounter between the product and its users in a series of online videos.
The motivation behind the campaign saw Dyson wanting to see how Dyson technology
transformed the lives of its users, advancing the relationship between consumer and brand
and further contributing to the creation of customer appeal.

Managerial Working

Entrepreneurial workings must be interwoven with managerial workings if value is to be

created. Thus, in order to assess the value creation for Dyson, the following section will
discuss each managerial element of Rae’s model.

The first component of this model is strategic focus. The business’s mission, strategic goals
and values must be tightly focused, interdependent and communicated effectively and staff
must enact the organization’s strategy and core values through their activities (Rae, 2007,
p.175). Kaplan notes that an organization should be aligned to strategy and strategy should be
everyone’s everyday job (Kaplan and Norton, 2001). With a commitment to continuous
innovation and development heading Dyson’s approach, every employee is regarded as an
innovator. Fine-tuning its strategy to reach all levels of the business, employees are
encouraged to live and breathe an engineering spirit, protect the brand and strive to find better
ways of working. This level of harmonization between Dyson’s operations is vital for value
creation and must be preserved if the organization is to continue to thrive. Furthermore,
emanating throughout its products, headquarters and factories is Dyson’s motivation to
improve the user of its product’s physical space (Dyson, 2017). When a firm produces greater
utility and exceeds in providing solutions for customers, it is argued that value is created
(Jones-Macziola, 2000). Be it through cleaning, drying or lighting, Dyson adds further value
to its consumers by focusing on creating solutions to their problems.

Organizational synergy within Dyson is an integral feature of the company. There is

effective co-ordination and communication between all parts of the business and hierarchy is
minimal (Rae, 2007, p.175). Working environments at Dyson are open and informal to

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stimulate communication, with formalities, such as memos forbidden in the office to allow
for idea exchange and social cohesion (Turner and Myerson, 1998). Dyson’s management
style is a prime example of a flat organizational structure; on every employee’s first day,
regardless of position, they are given their own hoover to take home, investigate and
understand in a home setting, stimulating communication and the application of consumer
knowledge from the offset.

Additionally, to add incentive, pay is boosted with attendance and bonuses, company paid
insurance and free lunch. Dyson also advocates worker-paced assembly lines, allowing for
great levels of flexibility in changing lines, capacity and assembly methods and
accommodating for design changes at short notice, permitting the company to rapidly
innovate to meet consumer demand (Das, 2015). Intrinsic motivation theory rests on the
notion that people work best if given a worthwhile job and are allowed to get on with it.
Conducting a content analysis on 360 employee reviews of Dyson, reveals that employees are
highly optimistic about their job-roles and thus, as motivation theory suggests, will work
toward realizing the goals of the organization (Glassdoor, 2017). The five most commonly
used words were as follows:

“relaxed, flexible, progressive, shared purpose and exciting”

The results of this analysis denotes a favorably positive attitude toward the working
environment of Dyson. By the same token, people not products are an innovative company’s
most important resource and Dyson’s culture embodies a commitment to it’s greatest asset –
its employees (Daft, 2000). Dyson places importance on the capturing and managing of
resources, of people, finance, technology and those related to capacity, which are mandatory
for the growth of the business and to meet customer demand (Rae, 2007, p.176). It is
arguably a firm’s resources that drive value creation through the development of competitive
advantage. With regard to the firm’s technological resources, Dyson ensures it patents every
one of its new technologies, equating to the filing of a new patent every day and an overall
total of over 1,300 (Boxall and Purcell, 2016). Engineers at Dyson are also drawn from a
broad spectrum of disciplines, each one a specialist in the field (Dyson, 2017). The company
recruits directly out of school/college and university in an attempt to surpass its competitors
by employing the most talented and skilled individuals.

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Paying attention to the managing of relationships both within the organization and with
external stakeholders is key if an organisation is to witness profit and remain competitive. As
has been discussed, Dyson works hard to up-hold an employee culture of inclusiveness, with
employees treated with equal standing and respect, leading on to the final aspect of Rae’s
model; systematic value management. Rae notes that at the core of the business, there must
be a robust economic model, optimizing demand, resources and profit via the making of price
and cost control decisions. Dyson’s decision to relocate its production facility from Wiltshire
to Malaysia in 2002 is perhaps the most pertinent example of the company displaying this
managerial capability. The transferring of its manufacturing processes to Malaysia allowed
for lower unit costs and ensured closer proximity to the some of the firm’s key suppliers,
improving the location its supply chain.

The move, however was met with some controversy as 65 of Dyson’s UK employees lost
their jobs, resulting in media backlash and a temporary tarnishing of Dyson’s reputation. This
highlighted an inability of Dyson to effectively manage the relationships with its key
stakeholders such as worker’s unions and highlighted room for improvement in the area.
Despite this, both sales and revenue dramatically increased as a result of the move,
authenticating the creation of value as a consequence of the company’s decision. The opening
of an additional plant in Singapore has allowed Dyson to keep up with the growing demand
for its products with the single plant delivering an output of 11 million products a year. With
10 million products sold in 2016, it is imperative that Dyson maintains its level of output.

Recommendations

The effective implementation of entrepreneurial management is significantly correlated with

a firm’s success. Having located each element of Rae’s model within the context of Dyson, it
is conclusive that the entrepreneurial and managerial capabilities of a firm must be firmly
fused, if they are to interact in a way that creates value. Kanter advocates cross-functional
working within a business and thus no single component of an organisation’s operations can
work in segregation (Kanter, 1989).

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Effective management of operations between its bases in Asia and the UK must be
maintained in order to prevent the fragmentation of its international operations. It is thus
recommended that Dyson continue to encourage the sharing of ideas and best practice to
allow for the continuous flow of communication throughout the company. Moreover, to allow
for healthy relationships with its stakeholders and to certify it is practicing corporate social
responsibility, it is recommended that in the event of decisions being made that might result
in negative consequences, Dyson maintains consistent engagement with its stakeholders.

Dyson effectively bridges the gap between entrepreneurship and corporate management.
A CEO must want to create a vision of something new and different if they are to succeed
against a competitive backdrop and James Dyson’s innovative vision is embodied in the
entrepreneurial spirit, nurtured in every one of his employees, demonstrating the successful
merging of organizational synergy and rapid innovation at Dyson. It is equally vital that
Dyson retains its status as leader of innovation and thus, must continue investments in R&D
to meet evolving and fluctuating consumer trends.

While Das advocates a relaxed and informal working environment (Das, 2015), to some
extent, organizational structure is necessary to ensure yield and productivity. Thus, Dyson
must strike a balance between the two. If employees are completely left to their own devices,
then this leaves the company vulnerable to inefficiency, an inability to meet the demands of a
dynamic environment and thus a loss of competitive advantage, revenue and market share.

Conclusion

To conclude, this report has taken the UK company Dyson, utilising Rae’s entrepreneurial
management framework, to analyse aspects of entrepreneurial and managerial working.
Through in-depth analyses of each integral component of the framework, the report has
shown how Dyson exploits and integrates both sets of capabilities to enact opportunities and
create new value. Dyson has witnessed year-on-year growth in sales revenue and profit
stream, has developed new market opportunities, such as its entry into the personal care
category and introduced product, service and process innovation through its advanced,
patented technology. Subsequent to analysing Rae’s model, this report offered

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recommendations for Dyson that might ensure both its future success and survival. However,
irrespective of its future operations, it can be categorically stated that Dyson has exploited its
entrepreneurial management capabilities to reach its position in the existing business area.

Wordcount: 3998

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