Concepts and Innovation in the Hospitality Industry

Concepts and Innovation

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Discuss the concept of ‘innovation’ and different sources of innovation.........................1
P2. Explore the Importance of innovation to business performance......................................3
TASK 2............................................................................................................................................5
P3. Analyse the factors driving innovation in the hospitality industry using a range of
organizational examples.........................................................................................................5
TASK 3............................................................................................................................................6
P4. Review a range of different innovative concepts and approaches that have been
implemented in the hospitality industry using specific examples..........................................6
TASK 4 ...........................................................................................................................................6
Covered in PPT.......................................................................................................................6
CONCLUSION ...............................................................................................................................6
REFERENCES ...............................................................................................................................8

INTRODUCTION
In the current era of emerging trends this is highly required by every sector specifically
hospitality business to adopt innovations in their business function in order to sustain their
market position and to attract more customer so as to enhance customer base as well. The
innovation is required by businesses and customer as well, for customer innovation is helpful for
satisfying their needs and demands in prominent manner and on the other side for businesses this
is useful for enhancing their return on investment (Arfi and et. al., 2018). Innovation is directly
linked with science and usage of new technologies in order to provide advantages to the
economy and population as well. This report is prepared in order to understand numerous
concepts which are directly associated with innovation within hospitality business within
background of intercontinental hotels and their contribution to local or national economy of the
country. Ich is a chain of resorts and hotels which was founded in 1946 and headquartered in
Buckinghamshire, UK. They are having more than 200 hotels chains around the world and now
they are planning to introduce innovation of RFID in their services with the major view to
enhance their business within marketplace.
TASK 1
P1 Discuss the concept of ‘innovation’ and different sources of innovation
Concept of innovation
Innovation is defined as emergence of new techniques or methods by which better
solution or services can be provided to customer and helps the business to meet up needs and
demands of their customer in more effective manner. The major aim of innovation is to bring
efficacy in business along with greater sustainability as well.
In the context of intercontinental hotel group as the business is willing to capture new
market size then innovation is having distinct significance for them as this is the source by which
high end business distinctiveness can be provided which could lead them to achieve their overall
objectives (Divisekera and Nguyen, 2018).
Majorly innovation is being divided into four categories which are architectural
innovation, incremental innovation, disruptive innovation, radical innovation. Incremental
innovation is dependent on current technology but at the same time this is focused on increasing
value for customer by innovating designs or feature of offerings. Disruptive innovation is taking
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