Business: Innovations and Risks

Innovation is a must in many industries, including tourism. How to be innovative? What marketing strategies are best to follow? What about the others – how did they achieve success? Are there any risks in implementing new products and services?

Articles

Study: Distinguishing Successful New Services in the Hospitality Industry

Study: Distinguishing Successful New Services in the Hospitality Industry

Alec Hills

At the start of the twenty-first century, the service industry is of fundamental relevance within our economic system, as the service segment produces the highest growth in gross domestic product of industrialized countries. On the other hand, service organisations face an unstable and turbulent business environment. The market place for services is dominated by rapid changes in customer needs, fierce competition, globalization and technical innovations. These challenging market conditions deman...
Risk vs. Success: Ten Ways to Boost Innovation

Risk vs. Success: Ten Ways to Boost Innovation

Andrew J. Wein

You cannot expect your team to be innovative if they do not know the direction in which they are heading. Innovation has to have a purpose. It is up to the leader to set the course and give a bearing for the future. You need one overarching statement that defines the direction for the business and that people will readily understand and remember. Great leaders spend time illustrating the vision, goals and challenges. They explain to people how their role is crucial in fulfilling the vision and m...
Space Tourism: Marketing Difficulties

Space Tourism: Marketing Difficulties

Ashley Nault

The earth-based tourism industry is a trillion-dollar industry. The National Aerospace Laboratory in Japan surveyed citizens in Japan, Canada, the United States, and Europe throughout the 1990s to gauge their interest in space tourism. These surveys confirmed wide personal interest in space tourism (60 to 80%, depending on the country), and a willingness to spend upwards of a month’s salary just to get into space once. Clearly this is not a “far out” scheme without connection to earthly reality—...
AdWords – The Case of Air New Zealand

AdWords – The Case of Air New Zealand

Dan Rang

Air New Zealand is New Zealand's flagship carrier, serving passengers traveling throughout Australasia and the South Pacific, as well as to Europe, North America and Asia. Air New Zealand is based at Auckland International Airport and employs more than 10,000 people. As the country's national airline, Air New Zealand is a recognizable and successful brand...
Tourism: Innovation, Risk-taking and Protection of Core Business

Tourism: Innovation, Risk-taking and Protection of Core Business

Ashley Nault

Doing business differently requires innovation. Making links with local suppliers may mean walking new streets, and using new networks. Negotiating a partnership with a community trust may involve a new style and pace of negotiation that is different to your existing business culture. Identifying cultural products that both build on local talents, and match the needs of your company, may require lateral thinking. Don't hold back.