Traditional formulas for success in the hospitality industry have been questioned recently through digitalization, new entrants in the industry, and the shared economy model. The main objective of this program is to equip future hospitality professionals with the capacity and innovative mindset to assess successful business models.
What you will learn
Generate, identify, and evaluate fads, trends, and business opportunities in the hospitality industry Assess the impact of innovation on extent business models in the hospitality industry Anticipate the impact and value of future business models in the hospitality industry Design and implement a new business model within an existing hospitality firm or as an entrepreneurial approach
Who is the course for?
Week 1 Foundations of Innovation
Characteristics of innovations
Sensing innovation opportunities
Week 2 Product, Service & Process Innovation
Three archetypes of innovation
Between open and close innovation
Novel approaches to innovation
Week 3 The business model
What is a business model & why do we care?
Business models in the hospitality industry – evolution over time
Business model innovation
Evaluating the strategic potential of a business model
Week 4 The Entrepreneur
Am I an entrepreneur? Process view of entrepreneurship
Thinking like an innovator/entrepreneur?
Cognitive challenges when aiming for innovation
Week 5 Final assessment