Business Models in Tourism - Thomas Cook

Added on - 17 Feb 2021

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Business Models in Tourism
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1(a) Difference between product and process innovation and the pillars of innovation..............1(b) Evidence of innovation in the tourism sector........................................................................3(c) Factors to make tourism sector more innovative...................................................................4(d) Mention over the new product and process innovation in the tourism industry...................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONTourism is one of the fastest growing industry in the world. Innovation in tourism hasbecome productive concept, as it mainly focuses on developing product and process for benefitsof the customer easy and matter of their on a larger basis. There are many business opportunitiesavailable in Scotland.As more than 50 percent venues are hotels for business meetings andconferences. This report will be carry out on Thomas Cook which is one of the leading tourismorganisation in UK to sell holiday packages and provides easy assess to travelling.In this report,scenario is mentioned about traditional culture in tourism sector other that any other high techindustry in the world. Scenario is based over innovation development to the tourism sector.Thetopics covered in this report are the various pillars of innovation in the tourism industry and theways which can be used to make the tourism industry more attractive and innovative.MAIN BODY(a) Difference between product and process innovation and the pillars of innovation.Product innovation is the creation and subsequent introduction of a good or service that iseither new, or an improved version of previous goods or services. Along with this, processinnovation means an implementation of a new or significantly improved production or deliverymethods. Along with this, product innovation in tourism is diversification of product such asholiday packages etc., which is helpful to bring more convenience to buy it.In context withtourism sector, process innovation is making discovering new location or places withconvenience procedures such as ticket booking, ease payment gateway etc.There are variousinnovations which has previously done into tourism sector in Scotland (Fesenmaier, 2015). Theproduct and process stage is one of the popular innovation into the tourism sector. Theinnovation in the product can be of two types: improving the performance of the product andadding a new feature in the existing product.On the other hand the innovation in the processmeans improving the process of manufacturing or producing the existing product.For example,innovation in tourism such as holiday packages, ease ticket booking and convenience in makingpayment for booking packages.The major differences between the product and processinnovation are discussed below:BasisProduct InnovationProcess InnovationProduct innovation has beenIt is considered as improving the1
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