MNG00314: Innovation and Entrepreneurship Project at Marriott

This project focuses on an innovation and entrepreneurship venture proposal for the Sydney Harbor Marriott in Australia. The report analyzes the hotel's current state and proposes innovative strategies to improve revenue and customer experience. The project explores entrepreneurial qualities and the four types of innovation: invention, duplication, extension, and synthesis. It also emphasizes the importance of return on investment (ROI) and how investors can benefit from the proposed changes. The project suggests various tools and techniques, such as focusing on work, honesty, and effective communication, to enhance the hotel's entrepreneurial capabilities. The proposed innovations include customized gifts, retail stores, menu alterations, and a new toiletry package. The conclusion highlights the crucial role of entrepreneurial skills in effective management and the potential for increased customer satisfaction and investor confidence. This assignment is designed to conceptualize, identify, and describe a new innovative project for the Sydney Harbor Marriott, aligning with the course MNG00314 on Entrepreneurship and Innovation, and the themes of maximizing use of space or increasing revenue of a current venue.

Running Head: Innovation and Entrepreneurship
Innovation and Entrepreneurship
Name of the Name:
Name of the University:
Author’s Note

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EXECUTIVE SUMMARY
The following report is about the innovation technique and entrepreneurial skill that
should be adopted in an organisation. The chosen organisation for this particular report is
Sydney Harbor Marriott in Australia. The assignment will focus on the entrepreneurial skills
and on the concept of return on investment. The aim of the report is to illustrate on the
entrepreneurship qualities and the four area of innovation that can be incorporated within the
area of Sydney Harbor Marriott. The different types of innovation skill can be owned and
performed so that there is goodwill for the company and can gain trust of the customers.

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Introduction
The following report is based on the innovative technique that can be implemented in
the chosen organisation. The entrepreneurship development skill and quality is very
important to be inculcated so that there is proper functioning in the management. The chosen
organisation for this particular report is Sydney Harbor Marriott in Australia (Biswas et al,
2018). The aim of the report is to illustrate on the entrepreneurship qualities and the four area
of innovation that can be incorporated within the area of Sydney Harbor Marriott. Whereas
the return on investment is explained as the objective of the report. In the concept of return on
investment will help to understand the concept why the investors are needed for the chosen
organisation and the reasoning that might be behind.
Discussion
Name of the Company- Sydney Harbor Marriott, Australia
Overview of the Company
The Harbor View Hotel is the heritage that is situated in the heart of the continent in
Sydney which was constructed in the year 1922 and took one year for its completion. The
hotel was funded by Tooth and Company under the clause of 50 year lease (Paulsen 2016). It
is a three story building with its basement with its remnant building and exterior walls.
Tools and Technique
There are various tools and technique that can be adopted by the entrepreneur so that
Harbor View Hotel can be more productive by adopting the new techniques. The productive
tools are delegated to make sense of the overall task and the outflow and inflow of the
endless distraction which can be encountered on a daily basis (Carpenter, Wiencek and Lilley
2016). The Sydney Harbor Marriott is very focused on the goals and can adopt the tolls for
facilitating better entrepreneurial work. The following tools are:

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 The first tool is adopting the quality of being focused in the work. If the management
is catering to the work of food and beverage supply in the hotel rooms the facility
must be taken care of in terms of the workers, planning the food chart roster wise and
maintaining the hygiene and cleanliness.
 The leader should possess the quality of honestly and integrity and must carry
forward the legacy and the staff should adopt this technique to maintain the proper
functioning.
 The technique of proper communication should be embraced so that there is proper
understanding and coordination of work.
Entrepreneurship quality
There are various entrepreneurship quality that an entrepreneur or a leaders should
possess. But the specified qualities that the leader of the Sydney Harbor Marriott should have
are:
 It should be set in the skill of the entrepreneur to make the business work and hence
any cause of hindrance must not distract the goals that are strategically set. To make
the entrepreneur successful it should be disciplined enough to take step towards the
achievement of the objectives (Guzman and Stern 2016).
 It should be the responsibility of the entrepreneur to understand each and every
situation in the business opportunity. There must be generation of new ideas about the
workflow, efficiency and skills of the employee.
 The entrepreneur must know to set parameter and to make sure that there is
understanding towards the flow of work. The nature should be proactive and should
not wait for someone to give permission (Litwin and Phan 2013).

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 The maintenance of strong work force must be implemented. The key of being a
successful entrepreneur is knowing the way to motivate its employee.
The four types of innovation
The four types of innovation are:
Invention innovation: invention is referred to as the creation of brand new product. Sydney
Harbor Marriott can adopt the creation of new customized gifts that can be provided by the
hotel while the guest departs from the hotel. It can be customized package of cupcakes or
chocolates.
Duplication innovation: the hotel can adopt the strategy of opening a retail store that will
make the customer access to various products (Barbero et al, 2014). The products should be
based on the concept that can facilitate the travelers to make purchase according to their
choice and preference.
Extension innovation: Sydney Harbor Marriott should make improvement in the area of
catering service. The food and beverage must have an alteration menu each day. It will give a
wide choice to the customers to cater various types of delicacies.
Synthesis innovation: the existing concept of providing soap and shampoo bottles in each
room for the new gust must now be reformed to provide a single package that will comprise
of body wash, shampoo, toothpaste, toothbrush and hand sanitizer (Fitjar and Rodríguez
2013).
Return on investment
The return on investment can be explained as the performance measured to evaluate
the efficiency of a particular investment and compare the efficiency in number of different

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investment. The calculation is done on the basis of the benefit (or return) of an investment is
divided by the cost of the investment. This is expressed in terms of ratio or as percentage.
With the investment that is made on the preparation of catering services, building retail chain
outlet for the guest, creation of customized take away package while the departure of the gust
and providing free box of toiletry product (Millar and Hall 2013). There is an inclusion of
investors in the particular investment and the manger can ensure that there will be the
presence of return on investment. This will benefit in inculcating profit because the main
focus is in providing quality service. As a result the customers will be satisfied and there are
chances that they visit the same hotel again.
Conclusion
Hence it can be concluded that the entrepreneurial skill is a very crucial part for the
leader or the manager to adopt so that proper functioning of the management can be operated.
The various department of an organisation can be handled appropriately when the
entrepreneurial skill are adopted and delegated in the functioning of the management. The
different types of innovation skill can be owned and performed so that there is goodwill for
the company and can gain trust of the customers. The investors can rely on the reformation
process and can expect return on investment.

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Reference
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incubators produce different types of innovations?. The Journal of Technology
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Biswas, C., Marcelino, V.R., Van Hal, S., Halliday, C., Martinez, E., Wang, Q., Kidd, S.,
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Carpenter, W.M., Wiencek, D.G. and Lilley, J.R., 2016. Introduction Terrorism and the New
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Litwin, A.S. and Phan, P.H., 2013. Quality over quantity: Reexamining the link between
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Millar, R. and Hall, K., 2013. Social return on investment (SROI) and performance
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