Innovation and strategy implementation: the key challenge in today's competitive atmosphere

Authored by: Sander Allegro , Rob de Graaf

Handbook of hospitality strategic management

Print publication date:  July  2008
Online publication date:  September  2008

Print ISBN: 9780080450797
eBook ISBN: 9780080914343
Adobe ISBN: 9781136439520

10.4324/9780080914343.ch18

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Abstract

Innovation has taken the modern business world by storm. Any self respecting firm will stress its importance in their mission statement, vision, and other strategy document. In today's volatile business world, innovation is often seen as inevitable; if we do not change our products or services, the way we produce them and deliver them, we will not be able to survive! The hospitality industry does not have a great reputation in the field of innovation. Its conservative nature combined with its capital-intensive structure that requires payback horizons of over 25 years has not been driving innovation.

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