Concepts and Innovation in Hospitality

Concepts and Innovation in hospitality
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Contents
INTRODUCTION ..........................................................................................................................3
LO1..................................................................................................................................................3
P1 Discuss about the concept of innovation and identify different source of innovation. .........3
P2 Understand the Importance of innovation to the business performance. ...............................5
LO2..................................................................................................................................................7
P3 Identify the factors driving innovation in the hospitality industry by using wide range of
organizational examples. .............................................................................................................7
LO3................................................................................................................................................10
Use of Customer Relationship Manager Innovative Concepts..................................................10
Benefits of Customer Relationship Management......................................................................11
CONCLUSION..............................................................................................................................12
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INTRODUCTION
Innovation is based on the modern concept in terms of new idea, imaginations and
creative thoughts that mainly applicable within the organization. It often reviews as application
of better solution that easily meet the new requirement and unarticulated needs in existing
marketplace. Innovation is vital role played at workplace because it provides organizations an
edge in penetrating market and also establish connection to develop markets. It led to develop
bigger opportunities especially in rich nations. The report will discuss about the innovation
concept and identify various source of innovation. It will understand the importance of
innovation which directly influencing overall business performance and efficiency. Furthermore,
the report will examine different factors which drive innovation in hospitality industry. However,
it will describe about the wide range of different innovative concept, approaches that will
implement within hospitality industry in global marketplace.
LO1
P1 Discuss about the concept of innovation and identify different source of innovation.
 Innovation: It can be defined as process of translating an idea or invention into specific
good and service, mainly creates value for which client will pay (Binder, 2019). In other
words, innovation is that when new idea applies in the hospitality industry in order to
satisfy customer needs and expectation of client. For Example- smartphone, desktop
computers. Invention: It is all about making new item and finding the better way of making goods
and services. it may involve the innovation which bring idea to market into product
development. For Example- continue upgrade of computer system is a type of
intervention.
Difference between innovation and invention
Innovation Invention
 It is based on the introduction of
better solution provided that meet
requirement of existing marketplace
 Innovation is combination of various
products and process.
 It is based on the specific product,
device, concept and process.
 It made up of single product and
process (González-Torres, Pelechano-
Barahona and García-Muiña, 2019).
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 It is required the set of marketing,
strategic and technical skills
 It mainly considers the scientific
skills and knowledge.
 Incremental innovation: this type of innovation is mainly including the improevemnt
to add more sustain value into existing item, service and processes. For Example-
coca cola, Cadbury.
 Radical innovation: it is based on the high quality of product launch in market that
support overall business operation. For example- iphone.
Interpretation of innovation
 Innovation as something new: It is based on the new idea, creative thoughts that would
be implementing within hospitality industry. It viewed as an application for better
solution that meet specific new requirement in business. For Example- Hilton hotel can
be improved the room hardware as innovation in hotel industry.
 Innovation as a process: it is translating the path of new or existing knowledge into
marketable solutions. The process has something decisive that design new idea for
development (Bharwani, Mathews and Ghura, 2019). For Example- in Hilton hotel, it
will be used workflow management tool that performed as process of innovation to
improve performance and efficiency.
 Innovation as invention: Invention can occur as creation of product and also introduce
process for improving significant contribution within existing item and service. For
Example- Hilton Hotel is mainly implementing innovation as invention for launching
new item such as hardware devices. Innovation as value driver: In hospitality industry, Innovation gain more popularity
which increasing demand of customer in global marketplace. it is to be considered as
value driver which might be interested for adopting external technology within
hospitality industry (Binder, 2019). For Example- Hilton hotel is mainly creating
dedicated innovative team which will introduce an idea sharing platform for identifying
suitable approach in business expansion.
Types of innovation in hospitality industry
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