Analyzing Innovation for Competitive Advantage in Event Management

This report delves into the critical role of innovation as a core competency for achieving competitive advantages, specifically within the global event industry. It begins by defining innovation and its four key dimensions, followed by an explanation of incremental and radical innovation, as well as continuous and discontinuous innovation, providing examples for each. The report then examines the relationship between innovation, creativity, and entrepreneurship, analyzing how organizations can manage and implement innovation effectively. It assesses the risks associated with both developing and not developing innovation, and identifies factors influencing an organization's ability to manage innovation. The report analyzes how organizations can foster innovation by providing employees with freedom, focusing on strategy, and developing leadership styles. It concludes by summarizing the key findings and emphasizing the importance of innovation for sustained success in the dynamic event management landscape.

Competitive
advantages

Table of Contents
INTRODUCTION...........................................................................................................................4
TASK1.............................................................................................................................................4
Explain how innovation considered as core competency related for competitive advantages in
order to global event industry.................................................................................................4
Briefly explain innovation and there four key dimensions of innovation..............................6
Explain incremental and radical innovation with the help of example..................................7
Explain the concept of continuous and discontinuous innovation with example...................7
Examine the relationship between the innovation and creativity...........................................8
Critically analysed relationship between creativity and entrepreneurships...........................8
How organisation can or cannot be managed and implemented innovation in organisation. 8
Evaluates risk whenorganisation developed or not developed innovation in organisation..10
Analysed various factors which influencing an organisation ability to manage innovation.11
CONCLUSION.............................................................................................................................11
REFERNCES................................................................................................................................12
Books and journal..........................................................................................................................12

INTRODUCTION
Innovation is effective tool which organisation implemented effectively and developing core
competency in order to achieving organisation goal and objective of company. The report is
about the Beyond Certainty organisation which mainly organised different event such as fair,
corporate meeting, birthday celebration and wedding celebration. It is one of the leading
companies which handle the event so it is Event Management Company (Berning, 2019). The
paper consist such as various kind of innovations and factors as well as organisation effectively
adapting innovation so company follow such measures and analysed risk when company not
adapting innovation and creative culture.
TASK1
Explain how innovation considered as core competency related for competitive advantages in
order to global event industry.
In Present scenario, core competency is important factor for competitive advantages
because it affect business skill, specific abilities when company perform in effective manner. It
includes those factors which affect business profitability and performance of company. Each and
every company performs in effective manner so they easily achieved organisational objective. It
includes various factors which come under as equipment, processes, property, and specific skills
etc. Each organisation have core competency in order to serves the higher quality product and
services of customers (Ginting, 2020). A organisation know about their competency so
accordingly developing strategies because gaining high competitive advantages. In context of
beyond certainty, is one of the leading event management company of United Kingdom, these
organisation event manger planned events in order to deliver all kind of facility. They follow
such measured which are helpful to established core competency in the organisation in order to
gaining competitive advantages in the market. Successful business organisation follow such
measures to developed core competency in an organisation which are discuss below.
Quality-: Quality is important factor so organisation must be focused product and
services accordingly they deliver high quality and innovative product so it leads to attract more
customer and retain for longer period of time. In reference of organisation, they planned global

events in that way so increasing more customer segment. When organisation planned the event
and organised so invites number of guest from other countries so they deliver best services to
their guest.
Customer service-: It is one of the measures factor which impacts on company image.
Organisation utilised ample number of solution to deliver best services to customer and they
accordingly provides goods and services. In reference of Beyond certainty, it is provides new
experience to customer and solve all the queries of customers and share best experience with
customers.
Innovation-: Organisation developing new innovative products and services in order to
attract more customers and accordingly event manager developing new strategies to promotes
the products and services in front of customer. In relevance of organisation, event manger
accordingly planned their event so provides all kind of facility to customers (Harpa, 2017)..
. A organisation know about their competency so accordingly developing strategies because
gaining high competitive advantages. In context of beyond certainty, is one of the leading event
management company of United Kingdom, these organisation event manger planned events in
order to deliver all kind of facility. They follow such measured which are helpful to established
core competency in the organisation in order to gaining competitive advantages in the market.
Successful business organisation follow such measures to developed core competency in an
organisation which are discuss below.
Briefly explain innovation and there four key dimensions of innovation.
Innovation is wider and broader concept in order to effectively utilised organisation
resources which helps in developing innovative new products in appropriate manner.
Organisation effectively utilised their resources because they deliver best services to customers.
Innovation is process which improvement in existing product and services along with
developing new product in order to increasing customer base. In reference of Beyond certainty,
the implemented new ideas regarding product and services. There are number of dimensions
innovations which are discuss below.
Product-: Product refers to those which are tangible easily touch and deliver to customer
in order to attract more customers. These are helpful to developing new things and deliver to
targeted customer. In context of Beyond certainty, it is event management company so there
mangers developing attractive event For example, organisation organised event so use waste

material for decoration of event with the help of these they attract more customers (Kozyrev,
2016).
Process-: This element refers to included innovative technology in order to
manufacturing goods and services. In context of organisation, they utilise innovative method to
develop event such has create decoration with waste and disposable items and used high tech
technology which effectively utilise in effective manner. They are developed event on larger
level so they used high tech security because so many guests come from different countries. For
example they used event management software and promotes online registration of guest when
organised event.
Position-: These includes various products and services are deliver to customers so the
same type of products also sale competitors to its customer so on that basis companies must be
analysed the business environment and target audience so set brand image in the mind of
customer. For example, these organisation position in the market in that way to organised global
event and it is one of leading company across globe (Madhani, 2016)..
Paradigm-: It refers to those processes which company modify in existing product and
services so they developing new ideas and formulated strategies so make changes in services. In
context of organisation, they involving various competitors so they accordingly developing
various changes in the business development plan and screening new ideas within the business
environment. For example, the developing new strategies such as advancement of technology
like developing various software such as Eventmobi, Babylon software solution, cevent etc.
Therefore, there are ample numbers of dimensions which organisation has followed in
order to make changes in product and services so they easily attracting and retaining more
customers. Innovation is kind of method which helps to organisation to developing new image in
the market and gaining competitive advantages or it leads to core competency in business.
Explain incremental and radical innovation with the help of example.
Incremental innovation-: It is process which refers to these is strategy which mostly
companies utilise in order to making small improvements to existing products, services and
processes. It includes simply as adding new features to an existing product because organisation
deliver products and services to customers. On that basis easily attract more customers and retain
for longer period of time .For example, Cadbury has utilised innovative approach like

developing new flavours and created new formats. The popular chocolate bar is now available as
a hot chocolate and snacking bag.
Radical innovation-: A radical innovation also said that as disruptive innovation which
mostly companies utilise these innovation because they directly impact on market and economic
activity of firms in the market. For example, event industry they change their service pattern on
the basis of change structure of the market and creates new market and then rendering innovative
services to customer. Radical innovation is the best example I Phone in order to generate new
idea and developing new market to deliver products for customers (Iqbal, 2020).
Explain the concept of continuous and discontinuous innovation with example.
Discontinuous innovation-: A discontinuous innovation refers to there are organisation
adapting in that way they vary in nature for every customer segment. These new products and
services basically different from existing products so they are renovate in the new shape
according to market trends and competition. For example, mobile industry adapting these
technique because technology and internet drastically changed so organisation utilised different
communication strategy to targeted audience.
Continuous innovation-: This kind of innovation refers to organisation utilised when an
existing product on marginal changes, without changing habits. In reference of organisation,
they utilised company because without altering customer habits. In relevance of company,
customer not purchased outdated products and services so Beyond certainty may invested a lot
of money to improve its existing products. For example, FMCG Company mostly used this kind
of innovation like shampoo which is different from existing product only in its brand name,
fragrance, colour, packaging developing new product so it is continuous innovation (Kozyrev,
2016).
Examine the relationship between the innovation and creativity.
Creativity and innovation has linked together because creativity cannot exist without
innovation when organisation developing new innovation in product and services so
automatically leads to creativity. They are positive relationships between them in order to
developing new ideas so become converted as innovation form. For example of Apple, the
company is innovative in that manner because they developing new creative ideas regarding
products and services and then converted into form of innovation. Creativity it’s only
imagination but innovation seems in product and services. In addition to this, it is impossible to

develop truly innovative product and services when creativity is ignored so organisation cannot
successfully innovates the products and services. Therefore, the relationship between creativity
and innovation it is path to success begins by liberating, nurturing and inspiring world.
Critically analysed relationship between creativity and entrepreneurships.
Creativity plays important role in innovation process and they show positive relationship
between the entrepreneurships and creativity. Both the aspect contributes to innovation and they
recognized as contributor to nations of economic growth. When entrepreneurship starts so they
first stage is creativity. It includes in both the process which known as innovation process and
also in corporate venturing process. When organisation established so their growth and success
depends on the creativity. Organisation manufacturing product and services so developing
creativity and innovation these process so easily attract more customers. However, there are
ample of changes or modification developing in new product so they also included creativity and
innovation (Malcheva, 2018).
How organisation can or cannot be managed and implemented innovation in organisation.
Innovation is essential aspect to each organisation. When organisation successfully
implemented innovation so it contributes to growth and enhancing productivity of company.
These factors help to organisation for growth and success of company there are so many aspect
which are follows in order to improve product and services as well as deliver high quality of
goods and services. Organisation employees adapting innovation and accordingly perform their
work in effective manner and also involve in working environment so they easily accomplished
the goals and objectives of company. Business leaders perceive innovation in order to progress
working performances and enhancing profitability of company. In reference of organisation, the
effectively implements innovation so which are discuss below (Montshiwa, 2018).
Give your workers sense of freedom-: Innovations is important factor so they provide
ability and capability to employees of organisation so creatively perform their functions. It is
developed creative process so worker are free to take decision and participated in activities so
generated more creative ideas. In reference of Beyond certainty is one of the famous event
organisation they provides power to employees to get generated more new ideas so it leads to
make more innovation in product and services.
Don’t only focused on R&D-: Organisation so much depends on research and
development and incurred cost to carrying out business activity. It includes organisation focused

more innovation and creativity rather than conducting R&D so they effectively implement
innovative culture. In reference of organisation, they more focused on strategies and then
implemented innovative products and services for customer.
Develop leadership style-: Leaders of company has responsibility to guide and nurture
their team members’ innovation through attitudes and behaviours. Organisation set goals and
targets so employees developing new ideas to achieving goal and objective of company because
leader are expecting from team members. In relevance of organisation, they developed so many
things in that way to organised more interesting and attractive events.
When organisation doesn’t implemented innovation there are ample number of reason and they
affect business model so which are discuss below (Malcheva, 2018)..
Impact on profitability-: organisation cannot improvement in product and services
through innovation so they affect their profitability of company in order to there are not satisfy
the needs and demands of customer in it directly impact on sales revenues. It also affect the
image nad goodwill of company. In context of organisation, implements innovation process
properly manner because event industry adapting changes very fast so they accordingly changes
in services.
Impact performance of company-: Organisation not developing innovation method so
they affect the overall performance of company on that basis the effectively adapting innovation
techniques to attract more customers easily. Beyond certainty cannot follow some measure
which is essential to developed innovation in organisation culture so accordingly modify
changes in services and products.
Impact performance of employees-: there ample number of organisation which innovation
cannot develop in culture so basically leaders are responsible and they affect overall productivity
of organisation. In relevance of organisation, they are using such techniques in order to
effectively adapting innovation techniques and so them available in organisation culture so
employees work accordingly and impact on business (Salisbury, 2019).
Evaluates risk when organisation developed or not developed innovation in organisation.
There ample numbers of risk when organisation face they developing innovation process
in organisation which are mentioned below.
Operational risk-: When organisation focused on innovation and making so many
strategies regarding innovation so organisation incurred so much cost on that basis they are

proper developing budget but organisation failing to meet the quality and failed to get type of
innovation so it is biggest risk in front of them. In relevance of organisation, accordingly
prepared plan and cost incurred but when they failed so it directly affect profitability of company
(Sodikin, 2020).
Commercial risk-: Organisation changes and making innovative product and services but
they are failing to fulfil the requirements of customer and not attract the customers so affect the
growth of company. In relevance of company, these kind of risk are too high because innovative
products are not liked by customer so they also affect the image of company.
Financial risk -: Organisation and top level management properly planned finical plan in
order to developing innovative strategies but organisation fail to meet them and not properly
creating innovative plan so it affect overall operation of company. In context of company,
organisation investing amount on innovation but they are successful so it is greatest risk which
affects the business function also and decreasing productivity of company.
When organisation cannot developed innovative products and service so there are such kind of
risk which discuss below (Sitorus, 2017).
Cannot attract more customers-: It is biggest drawback when organisation cannot
developing innovative product and services so they affect profitability, image and goodwill of
company. They cannot attract and retain more customer for longer period of time. In relevance
of organisation, they cannot follow innovation procedure so cannot make strong bonding with
customer and not satisfy the needs and demands of customers.
Affecting operations of company-: These is the biggest disadvantage when organisation
cannot develop innovation affect the efficiency and effectiveness of operation and cannot
smooth flow of operations and production. In relevance of Beyond Certainty not generating
innovating ideas so they are very lengthy procedure of operation and difficult to perform the
activities.
Affecting profitability and productivity-: Organisation not effectively used innovation
method so they affect their profitability and not gaining competitive advantages which leads to
decreasing sales revenue. In relevance of organisation, they not implementing innovation
techniques so get not attract more customer and not reached to potential customers.

Analysed various factors which influencing an organisation ability to manage innovation.
On the basis of organisation structure they are evaluates such kind of factors which affect
working environment of organisation. In relevance of organisation, it is one of the global
company so they analysed various factors which affecting the working environment of company.
Management practices that supporting creating a culture of innovation-: On the basis of
sized of organisation these factors affecting innovation strategies in order to providing good
working environment of employees so they effectively perform their activities and functions. In
context of organisation, it is leaders’ responsibility to developing innovation culture because
provides freedom to employees to take decision and developing more creative idea which leads
to long-term sustainability.
Challenging work-: These is the second factor which affect the organisation in order to give
assignments to employees or providing opportunity to developing more creative and innovative
so work accomplished in valuable manner (Salisbury, 2019).
CONCLUSION
From the above report it has been concluded that, Innovation and creativity leads competitive
advantages so on that basis organisation developing innovation strategies and implemented in
product and services. Event Company effectively developed innovation in order to product,
process, position and paradigm. They are adapting different type of innovations which are
analysed as well as organisation effectively implementing innovation which leads to profitability
for company. When organisation cannot adapt such factor so they affect so many risk along with
analysed such factors on the basis of size of company.

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