Innovation and New Technologies in the Hospitality Industry
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AI Summary
This report discusses the importance of innovation and new technologies in the hospitality industry, specifically in the context of a resort in Queensland, Australia. It explores internal and external factors facing the organization, identifies and evaluates potential innovation opportunities, and develops a detailed plan for implementing one innovative idea. The focus is on sustainable tourism and using hotel technology instead of personal gadgets to enhance the guest experience. The report also highlights the need to monitor and review the progress of the innovation opportunity.
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Innovation and New
Technologies
Technologies
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EXECUTIVE SUMMARY
Innovation and invention are the two major factors that are flourishing in the marketplace and
has influential impact on the current trends establishing in the society. Technological changes
that are taking place are bringing ample of resources for businesses to easy up and increase their
efficiencies by making use of such advanced technologies in creative and innovative manner.
Hospitality industry is one segment of market which is adopting technologies and taking
innovative approaches for inducing their productivity and potentials. The report under covers
such innovation for a resort in order to run their operations according to the current market trends
and gain competitive advantage.
Innovation and invention are the two major factors that are flourishing in the marketplace and
has influential impact on the current trends establishing in the society. Technological changes
that are taking place are bringing ample of resources for businesses to easy up and increase their
efficiencies by making use of such advanced technologies in creative and innovative manner.
Hospitality industry is one segment of market which is adopting technologies and taking
innovative approaches for inducing their productivity and potentials. The report under covers
such innovation for a resort in order to run their operations according to the current market trends
and gain competitive advantage.
Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION ..........................................................................................................................4
MAIN BODY ..................................................................................................................................4
Identify and discuss internal and external factors facing the organisation.............................4
Identify and evaluate three potential innovation opportunities for the organisation..............7
Critically assess and evaluate one of these innovation opportunities (idea) and develop a
detailed plan............................................................................................................................9
Discuss ways to review and monitor the progress of the innovation opportunity identified11
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................13
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION ..........................................................................................................................4
MAIN BODY ..................................................................................................................................4
Identify and discuss internal and external factors facing the organisation.............................4
Identify and evaluate three potential innovation opportunities for the organisation..............7
Critically assess and evaluate one of these innovation opportunities (idea) and develop a
detailed plan............................................................................................................................9
Discuss ways to review and monitor the progress of the innovation opportunity identified11
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................13
INTRODUCTION
Innovation is a phenomena of developing new offerings for people by creatively bringing
changes in existing goods and services that renders more value to consumers and to satisfy their
needs and requirements (Juma, 2016). Technologies nowadays are evolving, the technological
industry is continuously developing bringing better and more effective goods for consumers
every now and then. These technologies are used for innovation by businesses belonging to
separate industries of multiple regions around the globe. The hospitality industry is involved in
technologies and efficiently using them for rendering better services to guests. The report is
developed over a tourism resort in Queensland a state in Australia, standing at third position in
popularity. The assessment covers the internal and external environmental analysis for the report
with the help of PESTLE, SWOT and Porter's Five Forces framework. Moving along
opportunities are identified and accordingly a detailed plan is developed on one specific
innovative idea. At last ways of monitoring and controlling the progress made through
innovation are determined in relation with the plan made.
MAIN BODY
Identify and discuss internal and external factors facing the organisation
The internal and external environment of a company has influence over the operations
and functions. The internal factors are those which can be mitigated and modified by the
organisation in order to make them favourable but the external factors are needed to be evaluated
for taking measures to mitigate their impacts on business. There are multiple factors which exist
in internal and external surroundings of the tourism resort in Queensland and for which the COO
of the resort have to gather knowledge about those elements before making any plans and
implementing them. Thus, three models are used that are Porter's Five Forces, PESTLE and
SWOT analysis, these are elaborated under in the tables.
PORTER’S FIVE FORCES MODEL
Degree of existing
rivalry
The existing rivals in the industry that is other tourism resorts and hotels
will also become very competitive for procure funds form government
which lead to development and betterment.
Threat of potential The threat of new potential entrant is moderate as the opportunity
Innovation is a phenomena of developing new offerings for people by creatively bringing
changes in existing goods and services that renders more value to consumers and to satisfy their
needs and requirements (Juma, 2016). Technologies nowadays are evolving, the technological
industry is continuously developing bringing better and more effective goods for consumers
every now and then. These technologies are used for innovation by businesses belonging to
separate industries of multiple regions around the globe. The hospitality industry is involved in
technologies and efficiently using them for rendering better services to guests. The report is
developed over a tourism resort in Queensland a state in Australia, standing at third position in
popularity. The assessment covers the internal and external environmental analysis for the report
with the help of PESTLE, SWOT and Porter's Five Forces framework. Moving along
opportunities are identified and accordingly a detailed plan is developed on one specific
innovative idea. At last ways of monitoring and controlling the progress made through
innovation are determined in relation with the plan made.
MAIN BODY
Identify and discuss internal and external factors facing the organisation
The internal and external environment of a company has influence over the operations
and functions. The internal factors are those which can be mitigated and modified by the
organisation in order to make them favourable but the external factors are needed to be evaluated
for taking measures to mitigate their impacts on business. There are multiple factors which exist
in internal and external surroundings of the tourism resort in Queensland and for which the COO
of the resort have to gather knowledge about those elements before making any plans and
implementing them. Thus, three models are used that are Porter's Five Forces, PESTLE and
SWOT analysis, these are elaborated under in the tables.
PORTER’S FIVE FORCES MODEL
Degree of existing
rivalry
The existing rivals in the industry that is other tourism resorts and hotels
will also become very competitive for procure funds form government
which lead to development and betterment.
Threat of potential The threat of new potential entrant is moderate as the opportunity
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entrants provided by the government is attractive but entry barriers in the industry
are high due to huge property prices in whole Australia.
Bargaining power
of suppliers
The bargaining power of suppliers is low as most resorts are self
dependent. The tourism resort do not depend on one supplier group
which make provides them power over the suppliers.
Bargaining powers
of buyers
The power guests have over the tourism resort is moderate as the social
trend is fluctuating and evolving but resort is in power due to uniqueness
of their location and services they provide.
Threat of
substitutes
The threat of substitutes is high due to decreasing courtesy cars and buses
the people are more attracted to other similar service providing resorts
which is making a huge impacts.
PESTLE ANALYSIS
Political The political environment is affected by the governments policies and
regulations which are being introduced for smooth functioning of the
economy and businesses of all sizes and scope. The governmental
support provided to resorts in Queensland is positive as the government
is planning to invest huge amount of money in sustainable tourism
development which is an opportunity for the industry and the resort
(Lyndand et. al., 2017).
Economic The economy of Australia is known to be one of the strongest in the
world and even better than other OECD countries. The GDP of Australia
is higher and regularly increasing in comparison to other developed
countries and low rate of inflation and relatively high levels of
employment is taking the country towards betterment and development.
Social The social trends tends to have huge impact over hospitality service
providing organisations. The social trends are in favour of the resort as
people are willingly spending ample amount of money in leisure and
luxury services for having a good time and relaxing by taking break and
are high due to huge property prices in whole Australia.
Bargaining power
of suppliers
The bargaining power of suppliers is low as most resorts are self
dependent. The tourism resort do not depend on one supplier group
which make provides them power over the suppliers.
Bargaining powers
of buyers
The power guests have over the tourism resort is moderate as the social
trend is fluctuating and evolving but resort is in power due to uniqueness
of their location and services they provide.
Threat of
substitutes
The threat of substitutes is high due to decreasing courtesy cars and buses
the people are more attracted to other similar service providing resorts
which is making a huge impacts.
PESTLE ANALYSIS
Political The political environment is affected by the governments policies and
regulations which are being introduced for smooth functioning of the
economy and businesses of all sizes and scope. The governmental
support provided to resorts in Queensland is positive as the government
is planning to invest huge amount of money in sustainable tourism
development which is an opportunity for the industry and the resort
(Lyndand et. al., 2017).
Economic The economy of Australia is known to be one of the strongest in the
world and even better than other OECD countries. The GDP of Australia
is higher and regularly increasing in comparison to other developed
countries and low rate of inflation and relatively high levels of
employment is taking the country towards betterment and development.
Social The social trends tends to have huge impact over hospitality service
providing organisations. The social trends are in favour of the resort as
people are willingly spending ample amount of money in leisure and
luxury services for having a good time and relaxing by taking break and
enjoying holidays in Australia from their hectic schedules.
Technological Technologies are evolving and hospitality industry is benefited through
it. Australia is a country holding appropriate access to new technologies
and which are being used by hospitality service provides in their
offerings. For instance, making use of digital tools by the resort for
making promotions and even use for sales purposes.
Legal The legal and political environment is similar, legislations made by
governments and political parties needs to be strictly followed. For
example, the government of Queensland will be rendering funds to those
resorts which can show potentials to make them use efficiently in making
sustainable and educational tourism and therefore, the COO have to
make sure to work ethically in order to procure those funds.
Environmental The environment is the most potential element as the tourism in Australia
depends upon it. People visit there to enjoy the beauty of nature and have
a relaxing holidays. Therefore, resort have to make sure to work
according to the environment such as attracting potential buyer by
innovative offers in holiday seasons.
SWOT ANALYSIS
Strength Weaknesses
The location in which resort is located
is near to all the attractive locations for
which people are visiting Australia
such as Daintree rainforest, Great
Barrier Reef and Wallaman Falls.
The natural attraction are the very
reason which bring multiple tourist to
Australia and the strength is the service
resort provides for making travel
The weakness of resort is decreasing
competitiveness as the buses and cars
used for travelling the tourist to the
natural attractions are running down
leading people to procure such services
form the outside (Chen and et. al.,
2016).
Also, employees are getting
demotivated as they have stopped
Technological Technologies are evolving and hospitality industry is benefited through
it. Australia is a country holding appropriate access to new technologies
and which are being used by hospitality service provides in their
offerings. For instance, making use of digital tools by the resort for
making promotions and even use for sales purposes.
Legal The legal and political environment is similar, legislations made by
governments and political parties needs to be strictly followed. For
example, the government of Queensland will be rendering funds to those
resorts which can show potentials to make them use efficiently in making
sustainable and educational tourism and therefore, the COO have to
make sure to work ethically in order to procure those funds.
Environmental The environment is the most potential element as the tourism in Australia
depends upon it. People visit there to enjoy the beauty of nature and have
a relaxing holidays. Therefore, resort have to make sure to work
according to the environment such as attracting potential buyer by
innovative offers in holiday seasons.
SWOT ANALYSIS
Strength Weaknesses
The location in which resort is located
is near to all the attractive locations for
which people are visiting Australia
such as Daintree rainforest, Great
Barrier Reef and Wallaman Falls.
The natural attraction are the very
reason which bring multiple tourist to
Australia and the strength is the service
resort provides for making travel
The weakness of resort is decreasing
competitiveness as the buses and cars
used for travelling the tourist to the
natural attractions are running down
leading people to procure such services
form the outside (Chen and et. al.,
2016).
Also, employees are getting
demotivated as they have stopped
arrangements for guests to reach to
those natural attractions easily and
safely with proper introduction.
enjoying their job due to reduced
personal growth and development.
Opportunities Threats
The development action taken by
government for bring sustainable
tourism as the trend is flourishing
(Schilling and Shankar, 2019).
Technological innovation and bringing
in new technically updated vehicles and
other technologies in other operations
as well that bring in the idea of
sustainable tourism with gaining
competitive advantage for the resort.
The threats is aggressive behaviours of
existing rivals and increasing
competition which is tasking away the
competitive edge of resort.
The global pandemic also have huge
impact and threat over the hospitality
industries specially over luxury service
providers.
Identify and evaluate three potential innovation opportunities for the organisation
Innovation opportunities are those ideas which are growing in the industry and that if
adopted and exploited creatively can bring more efficiencies and competitiveness to the
organisation. Technological sector is on the hype, bringing new offerings and tools. Business
world is undergoing through a massive change under revolution and development taking place in
technology. The hospitality sector is not exempted from this on-going continuous changing and
enhancing environment that is leading it to higher level of efficiency and longer term
productivity. There few major development opportunities existing in hospitality sector which are
linked with technological innovation and inventions. Out of these three major opportunities that
are available to the resort in where Mrs. Crowley is working are elaborated below for provision
of sustainable tourism services (Nübler, 2018).
Biometric Technology for Increased Security and Efficiency- Biometric has becomes
a very prominent and integral part of hospitality industry which are focused for
improving their security and safety systems and processes. The hospitality sectors and
organisation make use of biometrics in all fronts of the premises of their hotels, resorts
those natural attractions easily and
safely with proper introduction.
enjoying their job due to reduced
personal growth and development.
Opportunities Threats
The development action taken by
government for bring sustainable
tourism as the trend is flourishing
(Schilling and Shankar, 2019).
Technological innovation and bringing
in new technically updated vehicles and
other technologies in other operations
as well that bring in the idea of
sustainable tourism with gaining
competitive advantage for the resort.
The threats is aggressive behaviours of
existing rivals and increasing
competition which is tasking away the
competitive edge of resort.
The global pandemic also have huge
impact and threat over the hospitality
industries specially over luxury service
providers.
Identify and evaluate three potential innovation opportunities for the organisation
Innovation opportunities are those ideas which are growing in the industry and that if
adopted and exploited creatively can bring more efficiencies and competitiveness to the
organisation. Technological sector is on the hype, bringing new offerings and tools. Business
world is undergoing through a massive change under revolution and development taking place in
technology. The hospitality sector is not exempted from this on-going continuous changing and
enhancing environment that is leading it to higher level of efficiency and longer term
productivity. There few major development opportunities existing in hospitality sector which are
linked with technological innovation and inventions. Out of these three major opportunities that
are available to the resort in where Mrs. Crowley is working are elaborated below for provision
of sustainable tourism services (Nübler, 2018).
Biometric Technology for Increased Security and Efficiency- Biometric has becomes
a very prominent and integral part of hospitality industry which are focused for
improving their security and safety systems and processes. The hospitality sectors and
organisation make use of biometrics in all fronts of the premises of their hotels, resorts
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and other units. Fingerprints ID and face recognitions enable the firm to develop more
elevated database and payment systems which reduces chances of fraud and maintain
better database. The resort can have a potential database of their own in which they can
store all the relevant information of clients, potential buyers and staff members. These
databases will induce the knowledge of the resort as market research can be easily
conducted gathering knowledge about changing preferences and social trends. Once
biometric technology is installed with an innovative way the resort can enable customer
to make purchases and booking through it reducing the human contact and even end bill
can be generated through it without any delays and long waiting time at the receptions.
Using Hotel Technology Instead of Personal Gadgets- In the changing technology
world whole operations are running through new innovative technologies and hotels,
resorts and restaurants are becoming tech-free. This is the irony with technology, the
hospitality service providers are motivating people to stay apart with their personal
technologies and gadgets and enjoy their holidays by engaging in the technologies
provided by them. The guests should be inspired to rely on tech but to stay apart form
their personal gadgets and enjoy more intimate experience with the nature. The resort can
induce more sustainable tourism with this opportunity by engaging people in attractive
introduction videos being played in their travel vans and cars while they reach to their
destination to which they got attracted (Grimpe and et. al., 2017).
The Integration of AI Assistance and Machine Learning- Artificial Intelligence which
is popularly known and used as AI in the techno world are integrating in multiple sectors
including healthcare and hospitality as well. In the hospitality realm the role played by
artificial intelligence is to increase staff efficiency and for developing effective two way
communication from customers to staff and vice a versa. Both customer and staff will be
at ease as guests can operate everything from their rooms with smart speakers and other
tools on the other hand employees can mitigate the double processes and perform tasks
once with utmost efficiency by rendering productive results.
The three major opportunities and ideas which are explored above are reflecting towards
technological innovation and interlinked with sustainable tourism which can be persuaded by
resort and management can make plans to implement them. The COO of the resort can develop a
creative plan with the help of one opportunity which encourages sustainable tourism and that
elevated database and payment systems which reduces chances of fraud and maintain
better database. The resort can have a potential database of their own in which they can
store all the relevant information of clients, potential buyers and staff members. These
databases will induce the knowledge of the resort as market research can be easily
conducted gathering knowledge about changing preferences and social trends. Once
biometric technology is installed with an innovative way the resort can enable customer
to make purchases and booking through it reducing the human contact and even end bill
can be generated through it without any delays and long waiting time at the receptions.
Using Hotel Technology Instead of Personal Gadgets- In the changing technology
world whole operations are running through new innovative technologies and hotels,
resorts and restaurants are becoming tech-free. This is the irony with technology, the
hospitality service providers are motivating people to stay apart with their personal
technologies and gadgets and enjoy their holidays by engaging in the technologies
provided by them. The guests should be inspired to rely on tech but to stay apart form
their personal gadgets and enjoy more intimate experience with the nature. The resort can
induce more sustainable tourism with this opportunity by engaging people in attractive
introduction videos being played in their travel vans and cars while they reach to their
destination to which they got attracted (Grimpe and et. al., 2017).
The Integration of AI Assistance and Machine Learning- Artificial Intelligence which
is popularly known and used as AI in the techno world are integrating in multiple sectors
including healthcare and hospitality as well. In the hospitality realm the role played by
artificial intelligence is to increase staff efficiency and for developing effective two way
communication from customers to staff and vice a versa. Both customer and staff will be
at ease as guests can operate everything from their rooms with smart speakers and other
tools on the other hand employees can mitigate the double processes and perform tasks
once with utmost efficiency by rendering productive results.
The three major opportunities and ideas which are explored above are reflecting towards
technological innovation and interlinked with sustainable tourism which can be persuaded by
resort and management can make plans to implement them. The COO of the resort can develop a
creative plan with the help of one opportunity which encourages sustainable tourism and that
enable more chances for employees to grow in professional and personal perspectives. One of
the opportunity is explored and creatively developed can assess resort in procuring the funds
from government that are going to be allotted to hospitality service providers in Queensland,
Australia for inducing sustainable tourism and attracting tourist that are attracted to natural
scenic beauty of a place and to experience the culture of the country while gaining local
experiences by knowing their local personal things (Johnston and Marshall,2016).
Critically assess and evaluate one of these innovation opportunities (idea) and develop a detailed
plan
EXECUTIVE SUMMARY:
Technology itself is a new emerging trend in industries and markets where all different
realm are affected by it and making use of innovative and new offerings of technologies for
gaining higher efficiencies and productivity. Innovation and technology are being linked by
organisation to perform better and attain a competitive edge in market keeping them one step
ahead of other competitors and lead the industry in their region or even in the world. The resort
in Queensland, Australia is lacking behind in accordance to the trends flourishing in the market.
The resort is not competitive enough with the existing rivals which is evident through
demotivated employees and run down of courtesy cars, vans and buses. On the same time other
tourism resorts are updating themselves with the changing scenarios and developing further
availing better development paths to their employees too which are motivating them keeping
them encouraged (Lipusch, 2018).
At the similar times the government of Queensland has provided the hospitality industry
a new opportunities with appropriate financial aids and that is of to bring Sustainable Tourism
and make use of the trend for enhancing the economy and hospitality sector of Australia. The
COO of the resort is utilising technological opportunity of Using Hotel Technology Instead of
Personal Gadgets for inducing the culture of more intimate tourism and travel experiences to be
rendered to customers or guests visiting the resort.
VISION:
The vision statement of resort highlights the perspectives of company to be most
productive in order to serve the best to the consumers and also, enable the employees to develop
and improvise on personal and professional basis (Evangelista, 2019).
MISSION:
the opportunity is explored and creatively developed can assess resort in procuring the funds
from government that are going to be allotted to hospitality service providers in Queensland,
Australia for inducing sustainable tourism and attracting tourist that are attracted to natural
scenic beauty of a place and to experience the culture of the country while gaining local
experiences by knowing their local personal things (Johnston and Marshall,2016).
Critically assess and evaluate one of these innovation opportunities (idea) and develop a detailed
plan
EXECUTIVE SUMMARY:
Technology itself is a new emerging trend in industries and markets where all different
realm are affected by it and making use of innovative and new offerings of technologies for
gaining higher efficiencies and productivity. Innovation and technology are being linked by
organisation to perform better and attain a competitive edge in market keeping them one step
ahead of other competitors and lead the industry in their region or even in the world. The resort
in Queensland, Australia is lacking behind in accordance to the trends flourishing in the market.
The resort is not competitive enough with the existing rivals which is evident through
demotivated employees and run down of courtesy cars, vans and buses. On the same time other
tourism resorts are updating themselves with the changing scenarios and developing further
availing better development paths to their employees too which are motivating them keeping
them encouraged (Lipusch, 2018).
At the similar times the government of Queensland has provided the hospitality industry
a new opportunities with appropriate financial aids and that is of to bring Sustainable Tourism
and make use of the trend for enhancing the economy and hospitality sector of Australia. The
COO of the resort is utilising technological opportunity of Using Hotel Technology Instead of
Personal Gadgets for inducing the culture of more intimate tourism and travel experiences to be
rendered to customers or guests visiting the resort.
VISION:
The vision statement of resort highlights the perspectives of company to be most
productive in order to serve the best to the consumers and also, enable the employees to develop
and improvise on personal and professional basis (Evangelista, 2019).
MISSION:
The mission statement of resort highlights the short term goal of inducing the sustainable
tourism trend by encouraging people towards more cultural experience of Australia and use the
tech of the hotel by keeping their personal gadgets away.
OBJECTIVES:
To increase sales by 5% in next 1 year.
To increase the profitability by 8% to 9% by 12 months.
To induce the customer base by 2% in next 6 months increase the pace in future.
SEGMENTATION, TARGETING AND POSITIONING (STP):
Segmentation- This is the first stage of segmentation which is used for dividing the
market into small groups according to some common features and characteristics. The
segmentation is the major stage as it enables the organisation to determine their target
group and attract them appropriately by focusing on their needs and preferences. The
resort in Queensland make use of demographic segmentation procedure and bifurcate
their audience on the basis of their income and lifestyles (Adner and Kapoor, 2016).
Targeting- The targeted audiences are from the segments developed in the first phase by
similar characteristics, traits and features. The target audience of the resort in
Queensland, Australia are the upper middle class and elite class families and individuals
who's lifestyles revolves around luxury and those travellers who are attracted by
sustainable tourism concepts interested in knowing different culture by mixing up with
local people and different localities in the region of their vacation.
Positioning- The technology have huge influence in different segments of business and
and industries including marketing and positioning realm too. Therefore, the COO of the
resort is planning to induce the engagement of digital technical tools and which are more
productive and easily reaches to maximum number of population and targeted groups.
Social media platforms will be used for effective and efficient promotional activities in
which attractive graphical videos and posters will be published.
STRATEGY (DEVELOPMENT OPPORTUNITY):
The strategy which is being adopted by the COO of the resort extending their operations
in sustainable tourism and as it is an increasing popular trend in the hospitality sector. But the
innovative technological opportunities utilised is to encourage people to stay away form their
personal techs and make use of technologies provided by the resort to them (Bstieler and et. al.,
tourism trend by encouraging people towards more cultural experience of Australia and use the
tech of the hotel by keeping their personal gadgets away.
OBJECTIVES:
To increase sales by 5% in next 1 year.
To increase the profitability by 8% to 9% by 12 months.
To induce the customer base by 2% in next 6 months increase the pace in future.
SEGMENTATION, TARGETING AND POSITIONING (STP):
Segmentation- This is the first stage of segmentation which is used for dividing the
market into small groups according to some common features and characteristics. The
segmentation is the major stage as it enables the organisation to determine their target
group and attract them appropriately by focusing on their needs and preferences. The
resort in Queensland make use of demographic segmentation procedure and bifurcate
their audience on the basis of their income and lifestyles (Adner and Kapoor, 2016).
Targeting- The targeted audiences are from the segments developed in the first phase by
similar characteristics, traits and features. The target audience of the resort in
Queensland, Australia are the upper middle class and elite class families and individuals
who's lifestyles revolves around luxury and those travellers who are attracted by
sustainable tourism concepts interested in knowing different culture by mixing up with
local people and different localities in the region of their vacation.
Positioning- The technology have huge influence in different segments of business and
and industries including marketing and positioning realm too. Therefore, the COO of the
resort is planning to induce the engagement of digital technical tools and which are more
productive and easily reaches to maximum number of population and targeted groups.
Social media platforms will be used for effective and efficient promotional activities in
which attractive graphical videos and posters will be published.
STRATEGY (DEVELOPMENT OPPORTUNITY):
The strategy which is being adopted by the COO of the resort extending their operations
in sustainable tourism and as it is an increasing popular trend in the hospitality sector. But the
innovative technological opportunities utilised is to encourage people to stay away form their
personal techs and make use of technologies provided by the resort to them (Bstieler and et. al.,
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2018). For instance, the travel vans, buses and cars which are used for taking people to all natural
attractive places in Australia are changes and updated vehicles will be used which will be having
television facilities in those an introductory videos of the places will be played. This will keep
the tourist engaged while long travel hours as well as they will be getting more closer to the
culture and local experiences which they can explore practically once reaching to the location.
Moreover, governmental finances offered will be the best financial resource which will be used
for making such changes. Employees will be more thrilled to make use of videos and their
personal skills to entertain tourists and perform their jobs with utmost potentials. Furthermore,
employees can be more interactive with people and learn more about their likings and their
culture which will be adding to their personal skill sets.
Discuss ways to review and monitor the progress of the innovation opportunity identified
Monitoring and controlling measures are the tools, pathways or phenomena which enable
the management to track the results of the changes applied and effectiveness of their plans which
are developed and implemented for inducing the organisations progress (Lee and et. al., 2018).
The monitoring processes of the innovation opportunity which is identified that will be used by
the COO of resort are as follows and elaborated underneath:
Key performance indicators- The key performance indicators are the quantifiable
comparative measures which are used for monitoring and controlling purposes. These key
performance indicators are commonly known as KPI's in the financial terms and used for
measuring actual results with the budgeted once. For instance, the resort once receiving
funds form government and after adding more finances allocate them to all respective
required areas and make comparison in future with actual outcomes to known the
progress made in financial term in percentages.
Benchmarking- Another very common tool and most effective one which is used by
organisations for knowing their progress is benchmarking. In this method the
management of resort will be setting a benchmark for their competitors who's
competitiveness can be used in the company for making progress and after the plan is
implemented and respective periods data is available then comparisons will be made for
knowing the progress standards and determining the need for making changes and any
further arrangements (Bogers, Chesbrough and Moedas, 2018).
attractive places in Australia are changes and updated vehicles will be used which will be having
television facilities in those an introductory videos of the places will be played. This will keep
the tourist engaged while long travel hours as well as they will be getting more closer to the
culture and local experiences which they can explore practically once reaching to the location.
Moreover, governmental finances offered will be the best financial resource which will be used
for making such changes. Employees will be more thrilled to make use of videos and their
personal skills to entertain tourists and perform their jobs with utmost potentials. Furthermore,
employees can be more interactive with people and learn more about their likings and their
culture which will be adding to their personal skill sets.
Discuss ways to review and monitor the progress of the innovation opportunity identified
Monitoring and controlling measures are the tools, pathways or phenomena which enable
the management to track the results of the changes applied and effectiveness of their plans which
are developed and implemented for inducing the organisations progress (Lee and et. al., 2018).
The monitoring processes of the innovation opportunity which is identified that will be used by
the COO of resort are as follows and elaborated underneath:
Key performance indicators- The key performance indicators are the quantifiable
comparative measures which are used for monitoring and controlling purposes. These key
performance indicators are commonly known as KPI's in the financial terms and used for
measuring actual results with the budgeted once. For instance, the resort once receiving
funds form government and after adding more finances allocate them to all respective
required areas and make comparison in future with actual outcomes to known the
progress made in financial term in percentages.
Benchmarking- Another very common tool and most effective one which is used by
organisations for knowing their progress is benchmarking. In this method the
management of resort will be setting a benchmark for their competitors who's
competitiveness can be used in the company for making progress and after the plan is
implemented and respective periods data is available then comparisons will be made for
knowing the progress standards and determining the need for making changes and any
further arrangements (Bogers, Chesbrough and Moedas, 2018).
CONCLUSION
The above report is acknowledging the need for new technologies to be introduced and
utilised for innovation and more productive results to be gathered which summarises the
effectiveness of these technologies for the operations and further development of the
organisation in any industry. The hospitality organisation identified the flourishing trends and
opportunities in hospitality industry in relation with technology and upliftment of organisational
profitability. The opportunities provided by government for bring in sustainable tourism is
explored and aligned with technological innovation for procuring better outcomes and gaining
the competitive edge.
The above report is acknowledging the need for new technologies to be introduced and
utilised for innovation and more productive results to be gathered which summarises the
effectiveness of these technologies for the operations and further development of the
organisation in any industry. The hospitality organisation identified the flourishing trends and
opportunities in hospitality industry in relation with technology and upliftment of organisational
profitability. The opportunities provided by government for bring in sustainable tourism is
explored and aligned with technological innovation for procuring better outcomes and gaining
the competitive edge.
REFERENCES
Books and Journals
Adner, R. and Kapoor, R., 2016. Innovation ecosystems and the pace of substitution: Re‐
examining technology S‐curves. Strategic management journal, 37(4), pp.625-648.
Bogers, M., Chesbrough, H. and Moedas, C., 2018. Open innovation: research, practices, and
policies. California management review, 60(2), pp.5-16.
Bstieler, L. and et. al., 2018. Emerging research themes in innovation and new product
development: Insights from the 2017 PDMA‐UNH Doctoral Consortium. Journal of
Product Innovation Management, 35(3), pp.300-307.
Chen, K. H. and et. al., 2016. Service innovation and new product performance: The influence of
market-linking capabilities and market turbulence. International Journal of Production
Economics, 172, pp.54-64.
Evangelista, M., 2019. Innovation and the arms race: How the United States and the Soviet
Union develop new military technologies. Cornell University Press.
Grimpe, C. and et. al., 2017. R&D, marketing innovation, and new product performance: a
mixed methods study. Journal of Product Innovation Management, 34(3), pp.360-383.
Johnston, M. W. and Marshall, G. W., 2016. Sales force management: Leadership, innovation,
technology. Routledge.
Juma, C., 2016. Innovation and its enemies: Why people resist new technologies. Oxford
University Press.
Lee, M., and et. al., 2018. How to respond to the fourth industrial revolution, or the second
information technology revolution? Dynamic new combinations between technology,
market, and society through open innovation. Journal of Open Innovation: Technology,
Market, and Complexity, 4(3), p.21.
Lipusch, N., 2018. Initial coin offerings–a paradigm shift in funding disruptive
innovation. Available at SSRN 3148181.
Lynd, L. R. and et. al., 2017. Cellulosic ethanol: status and innovation. Current opinion in
biotechnology, 45, pp.202-211.
Nübler, I., 2018. New technologies, innovation, and the future of jobs. Confronting Dystopia:
The New Technological Revolution and the Future of Work, pp.46-75.
Schilling, M. A. and Shankar, R., 2019. Strategic management of technological innovation.
McGraw-Hill Education.
Books and Journals
Adner, R. and Kapoor, R., 2016. Innovation ecosystems and the pace of substitution: Re‐
examining technology S‐curves. Strategic management journal, 37(4), pp.625-648.
Bogers, M., Chesbrough, H. and Moedas, C., 2018. Open innovation: research, practices, and
policies. California management review, 60(2), pp.5-16.
Bstieler, L. and et. al., 2018. Emerging research themes in innovation and new product
development: Insights from the 2017 PDMA‐UNH Doctoral Consortium. Journal of
Product Innovation Management, 35(3), pp.300-307.
Chen, K. H. and et. al., 2016. Service innovation and new product performance: The influence of
market-linking capabilities and market turbulence. International Journal of Production
Economics, 172, pp.54-64.
Evangelista, M., 2019. Innovation and the arms race: How the United States and the Soviet
Union develop new military technologies. Cornell University Press.
Grimpe, C. and et. al., 2017. R&D, marketing innovation, and new product performance: a
mixed methods study. Journal of Product Innovation Management, 34(3), pp.360-383.
Johnston, M. W. and Marshall, G. W., 2016. Sales force management: Leadership, innovation,
technology. Routledge.
Juma, C., 2016. Innovation and its enemies: Why people resist new technologies. Oxford
University Press.
Lee, M., and et. al., 2018. How to respond to the fourth industrial revolution, or the second
information technology revolution? Dynamic new combinations between technology,
market, and society through open innovation. Journal of Open Innovation: Technology,
Market, and Complexity, 4(3), p.21.
Lipusch, N., 2018. Initial coin offerings–a paradigm shift in funding disruptive
innovation. Available at SSRN 3148181.
Lynd, L. R. and et. al., 2017. Cellulosic ethanol: status and innovation. Current opinion in
biotechnology, 45, pp.202-211.
Nübler, I., 2018. New technologies, innovation, and the future of jobs. Confronting Dystopia:
The New Technological Revolution and the Future of Work, pp.46-75.
Schilling, M. A. and Shankar, R., 2019. Strategic management of technological innovation.
McGraw-Hill Education.
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