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Manufacturing and Innovation - Dyson Goes Big on R&D
21st November 2014
This business news story has it all! Dyson, one of the best-known UK manufacturers, has announced a £1bn investment in research and development over the next four years. Why? Because it has set a corporate objective to launch 100 new products over those four years.
The quote here from Sir James Dyson says it all about Dyson's corporate strategy:
"Our growth is fuelled by technology and we are thinking long-term"
So, to grow, Dyson needs to innovate through technology, and to do this successfully requires a long-term investment perspective.
Best-known for its vacuum cleaners, the Dyson product portfolio has expanded in recent years with the launch of heaters and fans. Dyson is also investing heavily in household robotic concepts.
Dyson is one of the best examples of a UK manufacturer that has split its operations to locate them where they add most value. So, its expanding research and development laboratories remain in the UK whereas production is off-shored, predominantly in Malaysia and Singapore - where it has a large motor manufacturing plant for its widening range of appliances.
Above all, the Dyson investment highlights perhaps the most likely way that UK manufacturers can remain competitive in increasingly global markets. This is summed up nicely by the quite from the EEF in the FT article:
"Investment in innovation is critical for UK manufacturers as it helps companies stand out in fast-changing global markets".
For more on this Dyson investment in R&D: