EXECUTIVE SUMMARY 2

1.Company Profile

The founder and owner of the company, James Dyson, was born in UK and studied furniture and
interior design at the Royal College of Art. In the late '70s, Dyson was renovating his home and got
frustrated with his vacuum cleaner's performance as it lost suction. So he took it apart to identify the
problem. He then set himself to find a solution and applied the cyclonic technology to vacuum
cleaners after observing it in his own factory. (dyson, n.d.)

Dyson's revolutionary vacuum cleaner was launched in 1ffff3 in the UK, fifteen years after the initial
idea and after 5,127 prototypes. (Business Case Studies, n.d.) A small company in Japan was the first
to license his product as none of the vacuum cleaner manufacturers at home would buy Dyson's
technology. Today, Dyson operates in 65 countries around the world with a 1000-strong team of
engineers based in Britain, Singapore and Malaysia. (dyson, n.d.)

2. Mission

Change things for people every day through efficient and eco-friendly products.

3.Vision

Foster ideas to build durable and innovative products.

4.Goals and Objectives

• To build world class cutting-edge electronic appliances for improving people's lives

• Expand the team of engineers and scientists to create more inventions

• Refine and improve the inventions Encourage the young generation to opt for engineering and
technology

There is alignment between the mission and vision of Dyson to a great extent. Dyson's vacuum
cleaners and hand driers show radical innovation, superior quality, novelty in designs, eco-
friendliness and user-friendliness. However, the vision of Dyson should include sustainability and
customer centricity. Dyson is very focused on innovation and design but not necessarily on
sustainability. A case in point is their washing machine, the Contrarotaor, launched in November
2000 but discontinued in 2004 as it was not a profitable product for Dyson. (Hundreds of Incremental
Changes A Case Study on Dyson, n.d.)

5.Industry Snapshot

The world of vacuum cleaners looks profitable as indicated by the growth trends fueled by focus on
upgraded lifestyles in emerging markets, rise in dual income households, and fast paced lifestyles.
The challenges for this industry are forecasted to be stringent energy efficiency norms, tight
consumer credit in debt ridden economies, and high unemployment levels in Europe.
The 2020 market forecast predicts a global market of household vacuum cleaners worth US$ 11.4
billion and 115.7 million units. The main opportunities lie in the regions of China and India, where it
is expected that 5ff% and 35% (respectively) of the population will be urbanized by 2018. The
projected middle class population for 2020 shows the highest growth in the Asia Pacific region (1,750
million) followed by Europe (6ff8 million), North America (328 million), Latin America (261 million),
Middle East and North Africa (171 million) and Sub-Saharan Africa (61 million). (Global Industry
Analysts, Inc., 2014) Please refer to Appendix A, B and C for relevant figures

The global ventilation fans market is expected to reach USS 2.4 billion by 2023 with an annual growth
rate of 4.ff% from 2015 to 2023. The Asia Pacific region held 44% of the global ventilation fans
market in 2014 but it is expected that the growth over the forecast period of 2015 to 2023 will be led
by North America. An increased awareness about the importance of indoor air quality and
infrastructure development are the major reasons behind the growth. (Transparency Market
Research, 2016)