Business model innovation in tourism - opportunities, challenges and examples

Business model innovations will be addressed in this chapter. A business model is an organization’s comprehensive approach to generating revenue at a reasonable cost, which incorporates assumptions about how it will create and capture value. Hence, it reflects the management’s hypothesis about what customers want, how they want it, and how an enterprise can best meet those needs and be compensated (Teece, 2010). Business model innovation occurs when a firm adopts a novel approach for commercializing all of its underlying assets and challenging its hypotheses about creating and capturing value. Overall, the purpose of this chapter is to integrate evidence from research and practice on the forms and conditions of innovation in the tourism sector and to examine the extent and nature of innovation. The chapter focuses on business models to identify radical types of innovation in the tourism sector and explain the specific challenges for tourism enterprises. Importantly, this chapter views innovation as a managerial discipline. Managers’ primary tasks are to ensure timely innovation activity, and align the innovation process with visions, strategies and resources in addition to implementing and assessing the effects of the innovations. Managerial specificities that focus on major business changes and challenged business models are addressed in the last section of the chapter.

Til publikasjon: https://doi.org/10.4135/9781526461452.n22, https://hdl.handle.net/11250/5099788 | Publiseringsår: 2018 | Tidsskrift: