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Author: Dawid Szutowski
Publisher: Helion
ISBN: 8380852478
Category : Business & Economics
Languages : en
Pages : 267
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Book Description
In contemporary economics only one thing is constant – constant change [Gunday et al., 2011]. The notion of change relates directly to innovation. The very nature of innovation constitutes combining existing factors in a new, changed way. Since the early stage of the scientific investigation of innovation research has focused mainly on the solutions actually implemented [Schumpeter 1939]. Yet it is only through implementation that the benefits of innovation may materialise. The task is not simple. The process of obtaining the gains is complex as innovation may pass through different stages. Thus for almost half-century the scientific community has considered innovation to be a complex process and not just a simple occurrence [Myers and Marquis 1969]. Innovation pushes progress forward. Thus previous scientific investigation limited the concept of innovation to implementations which generate positive effects [Nelson and Winter 1982]. The above scientific considerations still hold today [Moss Kanter 2006]. Innovation is of crucial importance for tourism companies, which cover accommodation for visitors, food and beverage serving activities, passenger transportation, travel agencies and other reservation activities, cultural activities, sports and recreational activities and retail trade of country-specific tourism characteristic goods [UNWTO 2010]. It provides them with competitive advantage and hence the firms with market power gain more from innovation [Tirole 1995]. A firm’s innovation interacts with the environment. It delivers diverse benefits to the consumers in the form of new products and lower prices which in turn impact positively on the company [Shiller 2006]. In the context of tourism the ongoing scientific discussion on innovation seems not to have achieved any definite conclusions yet. The implementation of innovation in tourism enterprises leads to the achievement of diverse ends. From this point of view the measurement of the effects of innovation is of vital importance. There are a number of financial measures covering substantially different fields. The most comprehensive amongst them is a company’s value. It covers all the aspects of a company’s activity [Bodie and Merton 2000]. However due to its importance and complexity numerous approaches to company value were created. The basic distinction covers book and market value based approaches. The proponents of book value assume that the balance sheet yields a reliable estimate of the value of assets and equities. However numerous shortcomings emerge: the static character, dealing with historical figures, failing to include intangibles and treating all classes of accounts as having equal importance [Nunes 2003]. The market value based approach stands for the price that assets would fetch in the marketplace [Fabrozi and Drake 2009]. The main objective of the research is to measure the short- and long-term impact of innovation announcements on the market value of equity of tourism enterprises.
Author: Dawid Szutowski
Publisher: Helion
ISBN: 8380852478
Category : Business & Economics
Languages : en
Pages : 267
Get Book Here
Book Description
In contemporary economics only one thing is constant – constant change [Gunday et al., 2011]. The notion of change relates directly to innovation. The very nature of innovation constitutes combining existing factors in a new, changed way. Since the early stage of the scientific investigation of innovation research has focused mainly on the solutions actually implemented [Schumpeter 1939]. Yet it is only through implementation that the benefits of innovation may materialise. The task is not simple. The process of obtaining the gains is complex as innovation may pass through different stages. Thus for almost half-century the scientific community has considered innovation to be a complex process and not just a simple occurrence [Myers and Marquis 1969]. Innovation pushes progress forward. Thus previous scientific investigation limited the concept of innovation to implementations which generate positive effects [Nelson and Winter 1982]. The above scientific considerations still hold today [Moss Kanter 2006]. Innovation is of crucial importance for tourism companies, which cover accommodation for visitors, food and beverage serving activities, passenger transportation, travel agencies and other reservation activities, cultural activities, sports and recreational activities and retail trade of country-specific tourism characteristic goods [UNWTO 2010]. It provides them with competitive advantage and hence the firms with market power gain more from innovation [Tirole 1995]. A firm’s innovation interacts with the environment. It delivers diverse benefits to the consumers in the form of new products and lower prices which in turn impact positively on the company [Shiller 2006]. In the context of tourism the ongoing scientific discussion on innovation seems not to have achieved any definite conclusions yet. The implementation of innovation in tourism enterprises leads to the achievement of diverse ends. From this point of view the measurement of the effects of innovation is of vital importance. There are a number of financial measures covering substantially different fields. The most comprehensive amongst them is a company’s value. It covers all the aspects of a company’s activity [Bodie and Merton 2000]. However due to its importance and complexity numerous approaches to company value were created. The basic distinction covers book and market value based approaches. The proponents of book value assume that the balance sheet yields a reliable estimate of the value of assets and equities. However numerous shortcomings emerge: the static character, dealing with historical figures, failing to include intangibles and treating all classes of accounts as having equal importance [Nunes 2003]. The market value based approach stands for the price that assets would fetch in the marketplace [Fabrozi and Drake 2009]. The main objective of the research is to measure the short- and long-term impact of innovation announcements on the market value of equity of tourism enterprises.
Author: Dawid Szutowski
Publisher:
ISBN:
Category :
Languages : en
Pages : 267
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Book Description
Author: Mike Peters
Publisher: Routledge
ISBN: 1136448233
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
Get the latest research on new ways to measure innovation in the tourism value chain Until now, most available research on innovation in tourism product service and development has focused on concepts, rather than facts. Innovation in Hospitality and Tourism presents empirical studies that identify the major “push and pull” factors of innovation in hospitality and tourism, providing vital information on how to measure innovation in the control and sustainable management of new service development. This unique book examines the internal and external drivers of innovation in the market place, the difference between innovative firms and those that merely follow trends, and explanations and examples of innovations in special areas of the tourism value chain. With hospitality markets saturated and clients selecting services from all over the world, it’s not enough to have an innovative idea for a new tourism product—your idea has to have the potential to be successfully marketed. Innovation in Hospitality and Tourism looks at methods of measuring the market-based applications of new processes, products, and forms of organization, the economic impact of innovation, innovation as a bipolar process between market and resources, and forms of cooperation that can strengthen and reinforce innovation. The book’s contributors analyze the relationship between welfare services and tourism in Denmark, the innovation potential throughout the tourism value chain from the supply side focus, innovation as a competitive advantage in Alpine tourism and in the small- and medium-sized hotel industry, tourism innovation statistics across products, providers, markets, and geopolitical regions, and a case study of AltiraSPA, a wellness concept of the ArabellaSheraton group. Innovation in Hospitality and Tourism examines: product development measuring innovation consumer-based measurement of innovation innovation processes in hotel chains innovation performances in hotel chains and independent hotels mobile business solutions for tourist destinations Internet portals in tourism analyzing innovation potential leadership and innovation processes welfare services and tourism as a driving force for innovation SERVQUAL as a tool for developing innovations and much more Innovation in Hospitality and Tourism is an invaluable resource for academics, professionals, practitioners, and researchers working in the field of hospitality and tourism.
Author: Gry Agnete Alsos
Publisher: Edward Elgar Publishing
ISBN: 1782548416
Category : Business & Economics
Languages : en
Pages : 377
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Book Description
The tourism sector _ already one of the fastest growing industries in the world _ is currently undergoing extensive change thanks to strong market growth and a transition to more experience-based products. The capacity for firms to innovate and adapt t
Author: C. Michael Hall
Publisher: Routledge
ISBN: 1134123167
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
Tourism is often described as an industry with high growth rates, and it is subject to radical change in how it is produced and consumed. However, there is still a relatively poor understanding of how such changes are brought about – that is, through innovation. This book is the first to provide a comprehensive review of innovation in tourism, while also considering how tourism itself contributes to innovative local, regional and national development strategies. This timely book places tourism innovation in the context of current academic and policy concerns relating to knowledge, competition, and the management of change. A substantial introductory chapter provides an overview of what makes innovation in tourism both distinctive from, and similar to innovation in other economic sectors. This is followed by three general scene setting chapters which explore how competition and the search for competitiveness drive tourism innovation, how knowledge transfers and knowledge creation lead the process, and how institutions shape innovation. These provide a coherent theoretical framework for understanding the roles of different agencies in innovation, ranging from the state, to the firm, to the consumer. The next four chapters analyze innovation at different scales. Two chapters review the territorial dimensions of innovation through the fresh perspectives of the national and regional innovation systems, followed by reviews of the determinants of innovation in the firm, and the contested and complex role of entrepreneurship. The final chapter summarises the importance of understanding tourism innovation. This is a groundbreaking volume which provides an accessible introduction to a key but neglected topic. It provides a readable account of the multidisciplinary research on innovation and relates the emerging theoretical framework to tourism. A clear conceptual framework is complemented by fifty boxes which provide a range of illustrative international case studies. This book will be a useful guide for researchers and students of tourism studies, management and business and geography.
Author: Pauline J. Sheldon
Publisher: Springer
ISBN: 331946518X
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
This volume explores the links between the rapidly growing phenomenon of social entrepreneurship (SE) and the international tourism and hospitality industry. This unique industry is particularly ripe for transformation by SE and the book’s authors delve deeply into the reasons for this. The book has three parts. The first creates a conceptual and theoretical framework for understanding the uniqueness of SE in the tourism context. The second examines different communities of practice where SE is being applied in tourism. The third is a rich collection of case studies from eight countries where tourism SE is already having an impact. The book’s authors address the topic from many different angles, disciplinary backgrounds and geographic areas. Many case study authors are practicing social entrepreneurs who share their successes, challenges and experience with tourism-related projects. The book also proposes a research agenda and educational programmatic changes needed to support tourism SE. As these are developed, tourism SE will bring innovation to destinations, transformation of their economic and social structures, and contribution to a better world. The book has many insights and resources for scholars and practitioners alike to usher in this transformation.
Author: Harald Pechlaner
Publisher: Routledge
ISBN: 1317162900
Category : Business & Economics
Languages : en
Pages : 183
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Book Description
Dr Pechlaner and Dr Innerhofer, the editors of Competence-Based Innovation in Hospitality and Tourism, argue that the industry operates within highly challenging and competitive environments. Changing environmental and market conditions continually force hotel businesses and service providers to offer their customers new and modified products and services, in order to remain competitive; those which respect value perceptions of markets and sustainable stakeholder reactions. This then raises the question of how innovations within this industry must be developed in order to achieve competitive differentiation. The book demonstrates that the development and analysis of successful innovation strategies should integrate the resource-based view and its advancements, the competence-based view, as well as the dynamic capabilities approach and the relational view. Resource-based strategic management approaches view the firm as a bundle of resources and competences. They point to the importance of firm-specific resources and competences in explaining variations in competitive positions and performance differentiation between companies. The challenge of hospitality and tourism is to develop resources and competences that drive innovations. This book will serve to advance the status quo of tourism research literature by combining innovation theories with network theories and tourism and destination development, by illustrating the development of cooperative competences and innovations in tourism and by showing, in a tailored way, how the challenge of the development of resources and competences that drive innovations in tourism can be managed.
Author: Marios Sotiriadis
Publisher: Emerald Group Publishing
ISBN: 1787435296
Category : Business & Economics
Languages : en
Pages : 470
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Book Description
This book is a practical handbook for entrepreneurship in tourism related industries. The book will provide students and prospective entrepreneurs with the knowledge, know-how and best practices in order to assist them in planning, implementing and managing business ventures in the field of tourism.
Author: Roman Egger
Publisher: Springer
ISBN: 3642540899
Category : Business & Economics
Languages : en
Pages : 478
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Book Description
This book examines the concepts of open innovation, crowdsourcing and co-creation from a holistic point of view and analyzes them considering their suitability to the tourism industry. Methods, theories and models are discussed and examined regarding their practical applicability in tourism. The book illustrates the theoretical mechanisms and principles of Open Innovation, Crowdsourcing and Co-creation with case studies and best practices examples. In addition to the scientific target group, the book is a useful resource for managers of the entire tourism industry. First, the book presents the theoretical fundamentals and concepts in 11 specific chapters. This basis is then enriched by three parts with case studies, focusing on information, creation and provision respectively. Finally in a concluding part the editors sum up the book and give an outlook on the implications, learnings and future perspectives of open innovation, crowdsourcing and collaborative consumption in the tourism industry.
Author: Vanessa Ratten
Publisher: Routledge
ISBN: 0429663285
Category : Business & Economics
Languages : en
Pages : 187
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Book Description
Tourism can take many different forms and types but increasingly it is viewed as one of the most innovative industries. This book showcases the innovations in tourism through a creativity, sustainability and technology perspective. Tourism Innovation: Technology, Sustainability and Creativity addresses the growing use and importance of tourism innovation in society. Readers of this book will gain a global perspective on how the tourism industry is changing and taking advantage of emerging technologies, which will help them to foresee potential changes in the industry and plan for the future. Tourism innovation is defi ned as innovating in a cost-effi cient manner by taking into account the available resources. Most of the focus on tourism innovation has been on developing countries but it is also used by companies in other locations. This book explores the way in which tourism innovation differs from other types of innovation and offers a creative solution to issues about sustainability and the circular economy. In this vein, it includes chapters addressing issues related to the following but not limited subjects: co-creation in innovation, social issues in innovation, leadership and innovation, forms of innovation, government innovation and innovation research. This book is suitable for tourism industry professionals, researchers and policy experts who are interested in how innovation is embedded in the tourism industry.
