MODERN INNOVATIONS OF ENTREPRENEURSHIP IN THE CATERING AND HOTEL INDUSTRY


Serbia


Serbia


Serbia


Abstract

Hospitality is a growing and increasingly developed sector in the international economy, and innovation as well as its results are relatively new subjects of research. The purpose of the study is to identify innovative initiatives that have been implemented in a particular sector, especially in the last decade, as well as those strategies and practices that help in innovation in this sector around the world. Nowadays, everyone would like to be in front of their guilt as well as to lead their industry by setting an example for others to follow. Innovation is considered the most effective tool for competitive advantage in many economic activities, but it needs a reliable companion to achieve success. Innovation in many areas can be interesting and exciting, but in tourism services and the hospitality industry, consideration of cultural diversity and customer needs and expectations it is necessary to determine valuable decisions and methods. Innovation refers to the process of using any new idea to solve a problem. Ideas for reorganizing, reducing costs, introducing new budget systems, improving communication, or assembling products in teams are also innovations. Over the last few years, inventions in the hospitality industry have been evolving at an accelerated pace. In recent years, there has been a modern arrangement of hotel rooms in the world. Modern innovative activities include technological and non-technological activities that industrial companies try to take advantage of and gain a competitive advantage in the market. A significant proportion of sectoral innovations include innovations that are applied more to processes and management than to the product itself. Over the last decade, companies in the hospitality sector have used technological or non-technological innovations to improve their competitive position.

Keywords



Full Text


References


Apostolos D. Zaridis, Helen Soldatou and Anna Ipapanti Soldatou (2019). Entrepreneurial strategies and practices for innovation in the hospitality industry. Tourism and Travelling, 2(1), 35-44. doi:10.21511/tt.2(1).2019.05

Ahlstrom, D. (2017). Innovation and Growth: How Business Contributes to Society. Academy of Management Perspectives, 24(3). https://doi.org/10.5465/ amp.24.3.11

Astebro, T. (2003). The Return to Independent Invention: Evidence of Unrealistic Optimism, Risk Seeking or Skewness Loving? Economic Journal, 113(484), 226- 239. https://doi.org/ 10. 111/1468- 0297.00089

Busenitz L.,W., West, G. P., Shepherd, D., Nelson, T., & Zacharakis, E. (2003) Entrepreneur ship researchin emergence: Past trends and future direction , Journal of Management

Crouch, S., & Housden, M. (2003). Marketing Research for Managers (3rd ed.). NY: Routledge.

Cruz, M., & Rosenkranz, N. (2017). Business Model Innovation: an exciting sector? Retrieved from https://hospitalityinsights.ehl.edu/ hospitality-business-model-innovation-competitive-advantage

Cooke, E., Hastings, G., & Anderson, S. (2002). Desk Research to examine the influence of Marketing and Advertising by the alcohol industry on young people’s alcohol consumption: Research prepared for the World Health Organization. Glasgow: Centre for Social Marketing.

Dougherty, D., & Corse, S. M. (1997). What does it take to take advantage of product innovation? In H. Chesbrough & R. A. Burgelman (Eds.), Research on Technological Innovation, Management and Policy. JAI Press.

Drucker, P. (2002). The discipline of innovation. Harvard Business Review, 8. Retrieved from https:// hbr.org/2002/08/the-discipline-of- innovation

Fagerberg, J. (2003). Innovation: A Guide to the Literature (Working Papers on Innovation Studies 20031012). Centre for Technology, Innovation and Culture, University of Oslo. Retrieved from http://folk.uio.no/janf/download-able_papers/03fagerberg_innova- tion_ottawa.pdf

Farmer, T. (1998). Understanding this thing we call Internet research. InfoTech Research Group.

Freeman, C., & Soete, L. (1997). The Economics of Industrial Inovation (3rd ed.). London: Pinter. Retrieved from https://mitpress. mit.edu/books/economics-industrial-innovation-third-edition

Geyer, M., :Attributes of Innovation, September, Retrieved December.From theWorld Wide Web:http://uxmag.com/articles/attributes-of-innovation.

Gagatsios, I. (2008). Innovation – Entrepreneurship – Enterprises. Athens: Institute for Adult Continuing Education (IDEKE). (In Greek). Retrieved from http:// repository. edulll.gr/edulll /han- dle/10795/900

Global Hospitality Portal. (2017). Top 10 innovation in the hospitality industry. Retrieved from https://www.soegjobs.com/2017/11/13/top-10-innovation-hospitality- industry/

Granello, D. H., & Wheaton, J.E. (2004). Online Data Collection: Strategies for Research. Journal of Counseling & Development, 82(4), 387-393. https://doi. org/10.1002/j.1556-6678.2004. tb00325.x

Hall, C.M., and Williams, A. M.(2008): Tourism and inovation. London: Routledge.

Hall, B., & Khan, B. (2003). Adoption of New Technology (NBER Working Papers No. 9730) National Bureau of Economic Research, Inc. Retrieved from http://www.nber.org/papers/ w9730.pdf

Harnisch, O. (2018). Reviving the spirit of innovation in the hospitality industry. Retrieved from https://www.hospitalitynet.org/ opinion/4089279.html

Hofmann, M. (2018). 2018 World luxury hotel awards. Retrieved from https://luxuryhotelawa rds.com/tag/2018-world-luxury-hotel-awards/

Hospitality Net. (2015). The real innovation in the hotel business is in new processes rather than in technical gadgets. Retrieved from https://www.hospitalitynet.org/ news/4068982.html

https://www.soegjobs.com/top-10-innovation-hospitality-industry/

Kelley, Donna. (2011).Sustainable corporate entrepreneurship: Evolving and connecting with the organization. Business Horizons (vol. 54, pp. 73-83).

Keller P., Koch K.,(1998): Die globalisierung des toursimus. Eine Herausforderungf ür die schweizals traditionelles tourismusland. Die Volkswirtschaft

Kobres, E. (2018). New technologies will revolutionize the hospitality industry. Retrieved from https://www.cyberera.com. ng/2019/05/22/new-technologies- will-revolutionize-the-hospitality- industry-2/

Low, M. B., & MacMillan, I. C.(1988) Entrepreneurship: Past Research and future challenge. Journal of Management, .Saayman, M. Entrepreneurship in the tourism industry. PU for CHE.

Malchev, I. (2018). Innovation: great ideas need a place to hatch and grow (part II). Retrieved from https://job-wizards.com/en/inno- vation-great-ideas-need-a-place- to-hatch-and-grow-part-ii/

Martin-Rios, C., & Ciobanu, T. (2018). Hospitality innovation strategies: An analysis of success factors and challenges. Tourism Management, 70, 218-229. https://doi.org /10.10 16/j.tourman.2018.08.018

Michaelides, R. (2017). Hospitality industry and the service culture in Europe. Tourism and Travelling, 1(1), 15-19. http://dx.doi. org/10.21511/tt.1(1).2017.02

Morris, M. (1998). Entrepreneurial Intensity: Sustainable Advantages for Individuals, Organizations and Societies. Westport, VA: Quorum Books.

Oerlemans, L. A. G., Rooks, G., & Pretorius, T. (2005). Does technology and Innovation Management improve Market Position? Empirical Evidence from Innovating Firms in South Africa. Knowledge, Technology and Policy, 18(3), 38-55. https://doi.org/10.1007/ s12130-005-1004-0

Penrose, E. (1959). The Theory of the Growth of the Firm. Oxford: Oxford University Press.https://doi.org/10.1093/0198289774.001.0001

Pisano, G. (2015). You need an innovation strategy. Harvard Busi- ness Review, 6, 44-54. Retrieved from https://hbr.org/2015/06/you- need-an-innovation-strategy

Porter, M. E. (1983). The technological dimension of competitive strategy. In R. Rosenbloom (Ed.), Research on Technological Innovation, Management and Policy, Vol. 1 (pp. 509-535). Greenwich: JAI Press

Schumpeter, J. A. (1934). The Theory of Economic Development (255 pg.). Cambridge, M.A: Harvard University Press. Retrieved from https://www.hup.harvard.edu/ catalog.php?isbn=9780674879904

Schumpeter, J. A. (1942). Capitalism, Socialism and Democracy. New York: Harper and Row. Retrieved from https://eh.net/ book_reviews/capitalism-social- ism-and-democracy/

Solow, R. (1957). Technical Change and the Aggregate Production Function. The Review of Economics and Statistics, 39(3), 312-320. Retrieved from https:// www.jstor.org/stable/1926047

Stalk, G., Pecaut, D., & Burnett B. (1996). Breaking compromises, breakaway growth. Harvard Business Review, 9. Retrieved from https://hbr.org/1996/09/breaking- compromises-breakaway-growth

Stankova, M., & Vasenska, I. (2017). Tourism destination competitiveness models. Tourism and Travelling, 1(1), 58-64. http://dx.doi.org/10.21511/ tt.1(1).2017.06

Surinach, J., Autant-Bernard, C., Manca, F., Massard, N., & Moreno R. (2009). The Diffusion/Adop- tion of Innovation in the Internal Market (Economic Papers 384). European Economy. Retrieved from https://ec.europa.eu/econo- my finance/ publicat ions/pages/ publication15826_en.pdf

Teece, D. J. (2010). Business Models, Business Strategy and Innovation. Long Range Planning, 43(2-3), 172-194. https://doi.org/10.1016/j.lrp.2009.07.003

Ulku, H. (2004). R&D, Innovation and Economic Growth: An Empirical Analysis (IMF Working Paper WP/04/185).Washington,DC:IMF.Retrievedfromhttps://www.imf.org/en/Publications/WP/Issues/2016/12/30/R-D- Innovation-and-Economic-Growth-An-Empirical-Analysis-16927

Uzawa, H. (1965). Optimum Technical Change in An Aggregative Model of Economic Growth. International Economic Review, 6(1), 18-31. Retrieved from https:// www.jstor.org/stable/2525621

Zaridis, A. D. (2016). The Relation between Entrepreneur’s Charac- teristics and Competitive Advantage. A Roadmap to Sme’s Success. International Journal of Emerging Research in Management andTechnology,5(9),53-58.Retrievedfromhttps://www.researchgate.net/publication/327679604_ The_Relation_Between_Entreprneur’s_Characteristics_and_Competitive_Advantage_A_Roadmap_to_SME’s_Success

Zaridis, A. D., & Mousiolis, D. (2014). Entrepreneurship and SME’s Organizational Structure. Elements of a successful business. Procedia – Social and Behavioral Sciences, 148, 463-467. https://doi. org/10.1016/j.sbspro.2014.07.066