Essay on Innovation strategies

The tourist business is an activity aimed at creation of different types of products and services (transport, accommodation, meals, entertainment, etc.) that appear to temporary visitors to countries, regions, cities, resorts and sights places. Tourism is constantly evolving despite the various obstacles of political, economic and social issues. Tourist business in many cases is initiated by innovators, who develop and implement advanced technology, continuously change forms and methods of supply of products and services, open and develop new opportunities. That is, it is possible to say that innovation is an important part of hospitality business. (Orfila-Sintes and Mattsson, 2009)

An important condition of success and competitiveness of any hotel is a competent and consistent implementation of innovations in all the spheres: from the use of new methods of personnel management to the use of new technologies in the hotel and restaurant sector.




Innovations in the hospitality industry

Innovation is traditionally represented as the direction of scientific and technological progress and the process associated with the implementation of research findings and developments in practice. However, the meaning and content of the concept of “innovation” is more extensive. The scope of innovation is not only the practical use of scientific and technological developments and inventions, but also includes changes in the product, process, marketing and organization. Innovation serves as a result of the activity, that brings new or improved products, processes, new services and new approaches to meeting social needs. (Peters M., 2006)

The term “innovation” in its modern sense was first applied by Schumpeter, who emphasized that innovation is a significant change in the production, based on the use of new materials and components, implementation of new processes, opening new markets, introduction of new organizational forms. That is, innovation can be defined as a new product, a new event or activity in the market (the company), which aims to attract the consumer to satisfy his needs, and at the same time generate income to the entrepreneur.

Driving forces of innovation are constant changes taking place in various spheres of human activity. In each of them innovations are the objectives of the introduction of new processes or products that are aimed at ensuring the sustainable and long-term economic growth. All the innovations in technology, technology, economics, management and social sector are interconnected, and to introduce innovation in any of these areas is almost always necessary to make the appropriate changes in the other. This is because the vast majority of innovations is based on the combination and use of various types of knowledge for the sake of new areas of its economic use.

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