LO1 Explore the concept of innovation and its importance to business performance

Submission Front Sheet

Key Dates

Particulars	Key Dates
Semester starts	07/05/2024
Semester ends	19/07/2024
Formative assessment Dropbox opens in week 6	10/06/2024
Formative assessment Dropbox closes in week 8	28/06/2024
FORMATIVE FEEDBACK TO BE COMPLETED within 2 weeks of submissions	14/07/2024
The final SUBMISSION (not for Research Project) box opens on	29/06/2024
The final SUBMISSION box closes on [multiple submissions allowed on final box]	21/07/2024 [Sunday 23:59 hours]
Result Publication date	23/08/2024
Referral Dropbox will open (For Internal purposes only)	24/08/2024
Referral Dropbox closes on	07/09/2024

Introduction

This unit focuses on innovation and the development of innovative concepts in the hospitality industry. In today’s competitive landscape, it is critical that organisations continually innovate both their product offering and processes to ensure that they remain competitive in the market.

Furthermore, adopting a more commercially driven approach is vital to maximise the Return on Investment (ROI).

Students are asked to consider the meaning of ‘innovation’ and how it relates to the hospitality industry in terms of product, service or brand development and as part of an organisation’s overall business strategy.

Students will explore the different factors driving innovation in the hospitality industry such as the significant developments in technology and the changing needs of different customer groups. They will also have an opportunity to conceive, evaluate and pitch an innovative concept for the industry

Learning Outcomes

By the end of this unit, students will be able to:

LO1 Explore the concept of innovation and its importance to business performance

LO2 Analyse the key factors driving innovation in the hospitality industry

LO3 Assess the role and importance of innovation to hospitality businesses

LO4 Conceive and pitch an innovative concept for the hospitality industry

To succeed in this unit, you are required to follow the scenario provided and complete all the required assessment criteria.

Any work submitted should include evidence of your research with references (Harvard Referencing).

Assignment Title: The Importance and Advantages of Innovation in the context of global challenges impacting the Hospitality, Travel, and Tourism sectors.

TASK A Submission Format – Individual Report

This submission will be in the form of an individual report. The recommended length of this submission is 3000-3500 words, excluding the reference list (bibliography), although you will not be penalised for exceeding 3500 words. Where appropriate, learning theory and additional research must be used, and referenced according to the Harvard Referencing system. The work must include a bibliography for all referenced work using the Harvard referencing system.

Unit Learning Outcomes

LO1 Explore the concept of innovation and its importance to business performance LO2 Analyse the key factors driving innovation in the hospitality industry LO3 Assess the role and importance of innovation to hospitality businesses

 

Assignment Brief and Guidance

Scenario and Activity: The recognition of the significance of continuous innovation in driving the development of a profitable Food, Beverage, and Accommodation business and its intricate relationship with local culture, customs, and customer preferences is appreciated, as it serves to distinguish one`s offerings from competitors and establish a distinct identity for the business. Drawing upon your industry experience, you have transitioned into an entrepreneurial role and established your own business centred around a new food/service idea that you have developed. To facilitate the sale, it is necessary to secure investors who can provide financial capital for your enterprise. A meeting has been arranged wherein you will present your proposal to them, potentially resulting in their decision to invest or not in your enterprise. Before the occurrence of the aforementioned event, the investors have requested that you provide a comprehensive analysis of the notion of innovation, encompassing the fundamental drivers of innovation in addition to the role and significance it has. To satisfy the investor`s requirement you need to develop a report with a critical evaluation of the role of innovation in the overall business strategy and performance of the hospitality industry, with a specific focus on achieving business objectives. The report will discuss the notion of innovation and analyse the various benefits that may be derived from implementing innovative practices. In addition, the report should analyse the drivers that propel innovation in products, services, and brands within the hospitality sector, drawing upon various organisational illustrations (including the possibility of incorporating one`s organisation). Furthermore, it should undertake a critical evaluation of how these determinants contribute to the maintenance of profitability and competitive advantage. The report should additionally undertake a critical evaluation of the efficacy of various innovative ideas and methods that have been implemented by hospitality organisations, including the possibility of including one`s organisation. This evaluation should be conducted through the use of specific examples and an analysis of the degree to which these concepts and approaches have contributed value to said hospitality organisations.

Task B Submission Format – Individual Presentation

The submission is in the form of a 10 – 15 minutes Individual presentation A soft copy of the presentation in a PPT format is also required to be submitted electronically. The recommended word limit for the presentation and speaker notes is 1000 words, although you will not be penalised for exceeding 1000 words. You are required to make effective use of presentation software headings, paragraphs and subsections and speaker notes as appropriate. Your presentation should be referenced using the Harvard referencing system throughout the text and must include a bibliography using the Harvard referencing system.

 

Unit Learning Outcomes

LO4 Conceive and pitch an innovative concept for the hospitality industry

Assignment Brief and Guidance

Scenario and Activity: After highlighting an awareness of the importance of innovation in business to investors, and having succeeded in enlightening them on its significance in the business world. However, you retain doubts concerning the feasibility of your proposal and its ability to rationalise investment, leading to subsequent evolution into a company enterprise. The parties involved have reached a consensus to convene a meeting, during which you will present your conceptual proposal. Explore the concept of innovation and its importance to business performance. The outcome of this meeting may result in their decision to either invest in or abstain from supporting your notion. Due to the dispersed nature of investors across several time zones, the task at hand is to select an appropriate day for presenting the creative concept, ensuring an efficient meeting where investors can actively engage and provide critical feedback. You will have to Present a well-articulated, coherent pitch for a feasible innovative concept for the hospitality industry that is based on a valid and justified evaluation of the market and potentials of your innovation in terms of alignment with customer needs and expectations as well as financial returns

Learning Outcomes and Assessment Criteria
Pass	Merit	Distinction
LO1 Explore the concept of innovation and its importance to business performance		D1 Critically evaluate the contribution of innovation to business strategy and performance to achieve hospitality business objectives
P1 Discuss the concept of ‘innovation’ and different sources of innovation   P2 Explore the importance of innovation to business performance	M1 Evaluate the contribution of innovation to business performance and analyse the benefits that can be gained as a result
LO2 Analyse the key factors driving innovation in the hospitality industry		D2 Critically evaluate how the factors driving product, service and brand innovation across a range of organisations in the hospitality industry sustain profitability and competitive edge
P3 Analyse the factors driving innovation in the hospitality industry using a range of organizational examples	M2 Critically analyse the advantages and disadvantages of factors driving innovation in the hospitality industry for meeting business objectives to maximise profit
LO3 Assess the role and importance of innovation to hospitality businesses		D3 Critically evaluate the success of a range of innovative concepts and approaches adopted by hospitality organisations
P4 Review a range of different innovative concepts and approaches that have been implemented in the hospitality industry using specific examples	M3 Evaluate a range of innovative concepts and approaches within the hospitality industry using specific examples, analysing the extent to which they have added value
LO4 Conceive and pitch an innovative concept for the hospitality industry		D4 Present a well- articulated, coherent pitch for a feasible innovative concept for the hospitality industry that is based on valid and justified market research and potential that aligns with customer needs and expectations
P5 Conceive an innovative concept for the hospitality industry that has market potential and feasibility to take to market P6 Pitch an innovative concept for the hospitality industry	M4 Evaluate market potential in terms of customer alignment and financial return for an innovative concept

Grading Details

Achievement of a pass grade

A pass grade is achieved by meeting all the requirements defined in the PASS assessment criteria for each individual unit.

Achievement of a merit grade

All the PASS assessment criteria and MERIT grade criteria need to be completed within a unit to achieve a merit grade.

Achievement of a distinction grade

All the PASS assessment criteria, MERIT and DISTINCTION criteria must be completed within a unit to achieve a distinction grade.

ALL GRADES ARE PROVISIONAL UNTIL INTERNALLY VERIFIED AND UNTIL EXTERNALLY CERTIFIED BY EDEXCEL.

THIS MEANS THAT A GRADE CAN BE CHANGED AT ANY POINT UNTIL EDEXCEL CERTIFIES IT

As per Pearson policy, you are only allowed two submissions per module. One for final submission and another one for referral. Failure to achieve a grade pass after a second submission will result in you having to repeat the module in the next term.

Any re-submission or late submission (unless authorised due to mitigating circumstances) will be capped at a PASS grade only.

• Present your work in one business report style which should include a cover page, table of contents, introduction, conclusion, reference list, foot or end notes and appendices if any
• Include the reference code of this assignment on your assignment submission front page.
• Sign the Learner’s Statement of authenticity in the cover page. Failure to do so may result in the submission being declined.
• Ensure the following information is in the footer on every page:
  • Your name
  • The production date of your submission
  • The code number of your assignment brief
  • The page number (Each page must be numbered at the bottom right-hand side)
• Spell-check the document and make sure there are no grammatical errors as it may result in the submission being declined.
• Complete all the tasks in a Holistic manner as set in the brief and without separating the assessment criteria to avoid a potential referral.
• Create your own titles and sub-headings to structure the work without copying the assessment criteria verbatim.
• Produce clear specific reasoning and arguments in support of your answers.
• Submit your work in a single work processed document of not more than 5000 words for all learning Outcomes. This word limit is only for guidelines and is not applied to grading.
• You must include a bibliography at the end to show where your information was sourced. Failure to do so may result in the submission being declined
• Your sources must be identified using the Harvard referencing system. The words used in your bibliography will not be included in your word count.
• You must use Arial, size 12, 1.5 line spacing and black to format the text.

To access any feedback (formative/summative) you will have to access Moodle and open your assignment. You will have to click on the blue comment box in the righthand side and the feedback will appear within the text. You might have to click on the blue bubbles to see the feedback

Extension and Late Submission

If an extension is necessary for a valid reason, requests must me made in writting using a course work extension request form to the head of department. Please note that the lecturers do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension.

The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick.

Plagiarism and Collusion

Any act of plagiarism and collusion will be seriously dealt with according to the regulations. In this context, the definition and scope of plagiarism are presented below:

‘Plagiarism occurs when a student misrepresents, as his/her own work, the work, written or otherwise, of any other person (including another student) or of any institution. Examples of forms of plagiarism include[1]:

• the verbatim (word for word) copying of another’s work without appropriate and correctly presented acknowledgement;
• the close paraphrasing of another’s work by simply changing a few words or altering the order of presentation, without appropriate and correctly presented acknowledgement;
• unacknowledged quotation of phrases from another’s work;
• The deliberate and detailed presentation of another’s concept as one’s own.’

All types of work submitted by students are covered by this definition, including, written work, diagrams, designs, engineering drawings and pictures.

‘Collusion occurs when, unless with official approval (e.g. in the case of group projects), two or more students consciously collaborate in the preparation and production of work which is ultimately submitted by each in an identical, or substantially similar, form and/or is represented by each to be the product of his or her individual efforts.

Collusion also occurs where there is unauthorised co-operation between a student and another person in the preparation and production of work which is presented as the student’s own.’ (’Carroll, J and Appleton, J. (2001) Plagiarism – A Good Practice Guide. Oxford Brookes University/JISC, Oxford).

All submissions for assessment must be submitted on Moodle in order to generate a Turnitin Report on plagiarism.

The maximum Turnitin score admissible is 15% but a submission can be referred with a lower score depending on the size of the submission and size of the text highlighted for similarity.

The limit on AI detection has been set at 50%. If a submission is over that allowance, the submission could be rejected and awarded a Referral.

Assignments with high similarity will be automatically referred for reworking and resubmission.

Including pictures of text (apart from the cover page or table of content) or pictures of any other type of information (diagram for example) without a citation and a Harvard Reference could be deemed to be an attempt of malpractice and could trigger an automatic referral as well as a malpractice procedure.

The Importance and Advantages of Innovation in the context of global challenges impacting the Hospitality, Travel, and Tourism sectors. Any student might be called to seat through a viva with the lecturer to confirm any parts of the submission through an interview which will then form part of the summative assessment

Recommended Resources

Recommended resources

Textbooks

BESSANT, J. and TIDD, J. (2015) Innovation and Entrepreneurship. 3rd ed. Chichester: Wiley and Sons.

DRUCKER, P. (2015) Innovation and Entrepreneurship. London: Harper Business.

MATTHEWS, C. and BRUEGGEMANN, R. (2015) Innovation and Entrepreneurship: A Competency Framework. London: Routledge.

RASHEED, H. (2012) Innovation Strategy: Seven Keys to Creative Leadership and a Sustainable Business Model. Bloomington: iUniverse

RIES, E. (2011) The Lean Startup: How Constant Innovation Creates Radically Successful Businesses. London: Portfolio Penguin.

TROTT, P. (2012) Innovation Management and New Product Development. Harlow: Pearson.

VALIKANGAS, L. and GIBBERT, M. (2015) Strategic Innovation: The Definitive Guide to Outlier Strategies. London: Pearson FT Press

Websites

www.bighospitality.co.uk   

Big Hospitality Online Forum and News Articles (Research)

www.hospitalitynet.org

Hospitality Net News and articles

www.innovation-portal.info

Innovation Portal