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.
|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|
Strategy & Entrepreneurship
The hospitality industry is a cyclical business characterized by imbalances between supply and demand. Dealing with sudden situations of growth, stagnation and decline demands flexible managerial skills and competences.
The ability for managers to react to performance shortfalls and crisis situations is critical in the hospitality industry. This program covers theories and practices on turnarounds and change management.
Learn how to use rigorous economic theories and models to analyze the functioning of the hospitality industry and its current trends. The program will focus on micro-foundations and analyze the impact of the hospitality industry on the aggregate economy.