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Innovation and entrepreneurship in hospitality and tourism Assignment

   

Added on  2021-02-20

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Innovation andentrepreneurship inhospitality and tourismindustry

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Application of framework of Applied Creativity & Innovation Model......................................1CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................1

INTRODUCTIONInnovation refers to translation of particular idea into product which caters values(Altinay, Paraskevas and Jang, 2015). Entrepreneurship is characterised to the acts to takeinnovations together with inventions so to turn them for establishing new business along withconcepts and executing practices. Innovation and entrepreneurship emphasis on interconnectionamong thinking of entrepreneur and innovations. In hospital and tourism industry, tremendouschanges have been experienced in last 50 years. Th report is based on Hyatt Hotels Corporationwhich was founded in 1957 by Jay Pritzker. The entrepreneur of the hotel started the businesswith small motor lodge and now it has more than 770 properties in 54 countries (HyattCorporations. 2019). The selected department is marketing department which has experienced numerouschanges such as changes in customer expectations, continuous technological changes, impropermarketing strategies, seasonality challenges and employees resistance. In the last 50 years, thedepartment of the company has deal with situations by formulating new policies as well aspotential solutions which is described in the report with the application of Applied Creativity &Innovation Model. With the help of the model, challenges are defined together with exploringsituations, ideas are generated, design of potential solutions along with implementation ofsolutions in order to deal with the changing aspects.MAIN BODYApplication of framework of Applied Creativity & Innovation Model.Hyatt Hotels Corporation is a big brand that manages together with franchising luxuryhotels, vacation properties addition to resorts. It was founded in 1957 and with changes in timethe organsiation has expanded the business in various international countries. Due toadvancement in demography as well as technology, various changes are made in the working ofdepartments while conducting busienss activities. One of the department that has undergone withchanges is marketing department. By applying the Applied Creativity & Innovation Model,challenge identification and its solutions are done to cope up with changes. The stages are brieflydefined below:Defining challenge: At such phases, challenges that an organisation faces are clearlydefined (Challenges with marketing deaprtment. 2019). Some of the challenges that are faced by1

marketing department of Hyatt Hotels Corporation due to increase in technologicaladvancements and demography are defined below:Changing cutomer expectations: Due to technological advancements, expectations ofcustomers has also increase. With no suprise, marketing department of the hotel is unable totrack customers understanding due to which they have faced challenges during the year 1984 to1986. Improper as well as ineffective marketing: In the year 1989 to 1995, when theorganisation was planning to expand in other countries, they faced the challenge of improperalong with ineffective marketing due to changes in demographic profile. The marketing teamwas lacking in exploring effective strategies due to which their daily operations were impactedand they were forced to reevaluate their efforts due to which huge expenses were beared by thecompany.Employee resistance: During 2005 to 2008, various technology as well as demographycahanges were experienced by marketing team. But marketing employees were resistant to adoptnew technological changes that was a biggest challenge for marketing department. Theemployees were used to of perfroming same strategies and restisted to adopt the new ones(Ateljevic and Page, 2017). Exploring situations: When the marketing department of Hyatt Hotels Corporation wascoming familiar with the technological and demographical changes, they startes exploringsituations. For example, when customer expectations were changed, the marketers of the hotelanalysed the new expectations along with the awareness of the hotel among customers. In theyear 1972, new expectations were explored and working was done accordingly. The reasons ofempoloyee resistance to accept change were also explored and found that employees do not wantto work as per the changing circumstances as they were forced to revaluate their efforts and workhard. Generating ideas: After exploring situations, various ideas were generated by the topmarketing team of Hyatt Hotels Corporation to deal with challenges. By coordinating withmanagement authorities, marketing managers have generated ideas by using techniques ofbrainstrorming and mindmapping (Yachin, 2019). Generated ideas are as follows:Customer tracking technology: In order to resolve challenge of understanding customerexpectations, managers have generated an idea to adopt customer tracking technology. Such2

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