THE CONTENT OF INNOVATIVE ACTIVITIES IN THE HOSPITALITY INDUSTRY: FEATURES AND METHODS OF IMPLEMENTATION

Keywords: innovations, innovative activity, hospitality industry, factors of the intensity of innovative activity, peculiarities of implementation of innovative activity, innovators, imovators

Abstract

The article defines the term innovative activity in the hospitality industry, and defines the goal of innovative activity, which consists in achieving the fullest satisfaction of the constantly growing individual needs of customers in the provision of recreation and leisure services, as well as obtaining maximum profit. The work also examines in detail the factors of the degree of intensity of innovative activity carried out by institutions of the hospitality industry, which are conditionally divided into two groups: factors of the external and internal environment. It is stated that the factors of the external environment indirectly affect the innovative activity of institutions of the hospitality industry, while the factors of the internal environment contribute to the intensive development of innovative activities in the hospitality industry. The article highlights a few features of innovative activity in the hospitality industry. This work also considered and analyzed such areas of innovation activity as creating and borrowing innovations, as well as highlighted several types of imitation of innovations: namely pure imitation and creative imitation. It is stated that a pure imitation is a complete copy of the original; accordingly, companies that fully borrow the innovation information of innovators that do not bring anything new to their product or service are pure imitators. And it is also stated that creative imitation is the improvement of an already existing innovation or its adaptation to another field; and the companies engaged in this kind of imitations are proposed to be called "imovators" in the work. The article highlights a few features of innovative activity in the hospitality industry. The paper identifies the market success potential of pure innovation, where the innovator earns high profits, and examines a kind of success fee, namely high cost and risk; namely, it is stated that the costs are the costs of creating innovations, as well as their promotion, and the risk is mostly associated with possible unsuccessful results of innovative activities, and the possible unwillingness of the market to accept the novelty.

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Published
2024-03-29
How to Cite
Kovalenko, O., & Yepyk, L. (2024). THE CONTENT OF INNOVATIVE ACTIVITIES IN THE HOSPITALITY INDUSTRY: FEATURES AND METHODS OF IMPLEMENTATION. Taurida Scientific Herald. Series: Economics, (19), 306-311. https://doi.org/10.32782/2708-0366/2024.19.36