Innovation in the Innovation in the Hospitality IndustryHospitality Industry

By sanjay kumarBy sanjay kumar

Innovation is a process of taking new ideas to satisfied customers. It is the conversion of new knowledge into new products and services.

What is INNOVATION???

"Innovation . . . is successful introduction "Innovation . . . is successful introduction

of a new thing or method . . . Innovation is of a new thing or method . . . Innovation is the embodiment, combination, or the embodiment, combination, or synthesis of knowledge in original, synthesis of knowledge in original, relevant, valued new products, processes, relevant, valued new products, processes, or services. or services.

In the organizational context, innovation In the organizational context, innovation may be linked to performance and growth may be linked to performance and growth through improvements in efficiency, through improvements in efficiency, productivityproductivity, , qualityquality, , competitive positioningcompetitive positioning , , market sharemarket share, etc. All, etc. All organizations can organizations can innovate, including for example hospitals, innovate, including for example hospitals, universities, universities, hospitalityhospitality etc. etc.

Goals of innovation

Improved quality Creation of new markets Extension of the product range Reduced labour costs Improved production processes Reduced materials Reduced environmental damage Replacement of products/services Reduced energy consumption Conformance to regulations

Process of Innovation in Hospitality Industry

• Financial backing to innovation

• Give opportunities to employees

• Skillful recruitment policy

• Information from outside the organization

• Target being set for innovation

• Employees should be rewarded

HOSPITALITY INNOVATION STRATEGIES

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