Concept and Innovation in Hospitality

CONCEPT AND INNOVATION IN HOSPITALITY

Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
Part A......................................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Discuss the concept of ‘innovation’ and different sources of innovation............................................3
P2 Explore the importance of innovation to business performance.........................................................5
M1 evaluate the contribution of innovation to business performance and analyze the benefits that can
be gained as a result.................................................................................................................................6
D1 Critically evaluates the contribution of innovation to business strategy and performance to achieve
hospitality business objectives.................................................................................................................7
Task 2..........................................................................................................................................................7
P3 Analyze the factors driving innovation in the hospitality industry using a range of organizational
examples..................................................................................................................................................7
M2 critically analyzes the advantages and disadvantages of factors driving innovation in the hospitality
industry for meeting business objectives to maximize profit...................................................................8
D2 Critically evaluates how the factors driving product, service and brand innovation across a range of
organizations in the hospitality industry sustain profitability and competitive edge................................9
TASK 3.......................................................................................................................................................9
P4 Review a range of different innovative concepts and approaches that have been implemented in the
hospitality industry using specific examples............................................................................................9
M3 Evaluate a range of innovative concepts and approaches within the hospitality industry using
specific examples, analyzing the extent to which they have added value..............................................12
D3 Critically evaluates the success of a range of innovative concepts and approaches adopted by
hospitality organizations........................................................................................................................13
CONCLUSION.........................................................................................................................................13
REFERENCES..........................................................................................................................................13

INTRODUCTION
Innovation in its modern meaning implies 'a fresh thought, a creative imagination, and a new
development in the form of a method or a program (Mariani, 2019).' Innovation is often
described as applying better concepts to satisfy particular requirements, indefinable needs or
market needs that have been identified. Such creative thinking is achieved by developing ever
more efficient goods, procedures, systems, technologies or business models that are given access
to customers, government bodies and the society. Innovation is also something new and more
effective, and thus special to the business or society that "falls in." The report on the study is
based on an entrepreneurial firm that is Smith's café that sells food. To start this business, the
owner needs some funds from the investors and various kinds of tasks are covered in the report
for this purpose. Core principles and innovative technology variables are noted in task A of
report as well as the role of new technology is also described.
MAIN BODY
Part A
TASK 1
P1 Discuss the concept of ‘innovation’ and different sources of innovation.
Innovation in its common sense means "a creative concept, an inventive thinking, a new
invention in the shape of an instrument or a method." Innovation is also defined as introducing
revolutionary processes to address new requirements, discounted demands or existing consumer
needs.
Innovation isn't just about creating or applying current ideas or procedures. The definition of
innovation may be defined as a mechanism involving several acts to discover different ways to
do stuff. Creation must not baffle it, because it can be defined as an act of making, trying to
create, or producing stuff. Newer developments may also be found through innovative thought
(Lubberink, van Ophem and Omta, 2019).

Types of innovation:
Incremental innovation- Incremental creativity tends to improve the already working systems,
rendering them simpler and cheaper. The most prevalent innovation is interactive system. It
integrates the new methods and enhances customer satisfaction within the accepted industry
(features, interface improvements, etc.). In one way or the other, both companies are engaged for
incremental progression.
Process innovation- Innovation in processes requires the formation of a modern or dynamic
interface growth or distribution network. Process innovation means the development or
introduction of a new technology or methodology to do something which allows an institution to
keep its clients' current requires able to compete
Red ocean innovation- Red Oceans relates to the established information space, that is, all the
sectors of the economy that currently exist. The limitations of the business are set and accepted
in the Red Seas, and the team’s business rules are recognized. Companies are trying to exceed
their competitors in order to gain a better share of the ready processes, generally through
marginal variants in the demand and value of the brands. The possibilities for earnings and social
stability are widely known when customer rooms are filled up. Products get to be commodities,
and rivalry wicks the Red Ocean.
Service innovation- Service innovation is introduced as a “or substantially altered service design,
client service channel, research strategy or innovations principle which leads to one or even more
additional technologies which are new to the scene, individually but most probable in
combination.
Different source of innovation:
 Process need- Program needs are the commitment and rectification or adjustment of
vulnerable points in the operation of the organization itself. This is a task-oriented
approach, suggesting that the root of creativity arises from inside current market abilities
and forms – not from manufacturing (Garay, Font and Corrons, 2019).