Concepts and Innovation in Hospitality Unit 38

Concepts & Innovation in
Hospitality

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
The innovation and it's sources in company performance..........................................................3
Importance of innovation ............................................................................................................4
Major elements influencing hospitality sector innovation...........................................................5
The approaches of innovation to hospitality business.................................................................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Innovation in hospitality is the continuous process in which a new method or idea is
being introduced in an organization to keep updated and make a position in the competitive
market. Hotel industry can adopt certain innovative ideas for its establishment in order to make
their products and services most efficient for the betterment of the society and the firm as well.
Technology innovation in the hospitality industry improves the guest experience and create more
satisfied customers. Innovation leads to enhance the business by increasing the overall profits.
This report will describe the concept of innovation and development in organization and their
significant to enhance the organization performance along with the key factors that drives to
innovation in the hospitality industry. Apart from this, the study will include the role and
importance of innovation to hospitality businesses along with the ways in which innovative
concept is being formulated.
MAIN BODY
PART A
The innovation and it's sources in company performance
Innovation leads to creation of new idea and then been transformed into practical reality.
By innovating with the latest ideas and technology can make the hotel industry to offer
something new for their customers. Trying to make the food services business more cost-
effective and time-efficient while also rendering it more competitive internationally, innovation
is transforming the industry and powering it up to provide the perfect blend. It is frequently
stated that innovation occurs when imagination and ambition collide. The country 's culinary
services business follows the same logic. (Gil and Ritchie, 2017).
According to Peter Drucker's their are seven sources of innovation that provides with the
opportunities and mitigate the risks. The sources are discussed below in context for innovation -
Unexpected - The innovations often arrive unexpectedly such as fire is uncertainly arrive in
normal course of human activity.
Incongruity- It is state of innovation when the need is inappropriate with the supply. Innovation
derives gradually with the need such as the increasing population has emerged the demand of car
parking. For this, smart car can fill the issue by parking in small spaces.