Entrepreneurship and Innovation
The purpose of this assignment is to give you the opportunity to focus on how excellence, quality, and competitive advantage relate to innovation. Your task is to think about the product, service, experience, or transformation (PSET) that you personally believe best represents excellence. Having identified that PSET, you must do the following:
1) Identify how and why this PSET is excellent in sufficient detail to convince me as to its benefits and quality in helping you to accomplish important tasks in your life.
2) Identify what distinguishes this PSET from other similar competitors - explaining those features and benefits in terms of its strategic competitive advantage.
3) Identify how this PSET could continue to be improved, identifying how it might become obsolete if a competitor introduced a significant destructive innovation.
4) Explain all the steps that you think the producer of this PSET needs to do to protect itself against a destructive innovation.
Demonstrate that you understand key terms by properly citing their definitions, quoting experts from the academic literature. Document thoroughly how and why this PSET has a competitive advantage in enough detail to convince me as to why I should choose this PSET as my preferred choice, and explain the boundary conditions which constitute the advantages of this PSET.
Additional Requirement
The question comes from Marketing and it is about PSET or Product Service Experience and Transformation for a business model which best represents it. For this, event management business has been chosen. Event management is believed to an excellent quality service business opportunity that can give strategic advantage in today's market environment. The solution explains this is full detail.
Word limit 2280