Creativity and innovation within the leisure and hospitality industry.

Creativity and innovation within the leisure and hospitality industry.

Compare and contrast what you thought about creativity and innovation and what Isaksen and Magretta defines it as (see attached PDFs). Based on this information write a 13 page (page count does not include appendices, title page, visual display or references) Page Paper on increasing value, creativity and innovation in a specific company within the Leisure and Hospitality industry field.

 

Refer to https://www.bls.gov/iag/tgs/iag70.htm for additional knowledge on sub-industries and business sectors. Use citations from the PDFs that show application and knowledge of content. This means that you do not use the text to define concepts like (creativity, innovation, creative problem solving) but you use it to apply knowledge gleaned from texts and concepts learned. Do NOT use lengthy quotes. Be sure to include APA style headers. When creating the Action Plan use the instructions below. Sources (must be current – within last five years) and must include at least 3 references from both Isaksen AND Magretta

It may be easier if it was an American publicly held company (company on the American Stock Exchange or NASDAQ) as financial information is readily available on those companies.  http://www.advfn.com/amex/americanstockexchange.asp

 

Include the following six categories:

  1. Examine and cultivate personal creativity skills in both personal and professional settings.
  2. Analyze the connection between creativity, leadership and bringing value and solving problems within chosen industry field.
  3. Analyze the need for increasing creative thought in a complex global environment including designing strategies to increase cash, profit and growth through understanding competitive dynamics.
  4. Identify the various business segments and the different or similar ways that each segment drives for profitability through creativity and resultant innovation.
  5. Analyze and apply decision matrices especially Michael Porter’s work for creative opportunities, or to mitigate risk and/or legal considerations in the global marketplace including compliance with Foreign Corrupt Practices Act (FCPA).
  6. Develop collaborative processes across stakeholders, including customers and suppliers to increase creativity and innovation

 

 

Use the structure below for the paper:

Introduction

Will include research on a specific company within the Leisure and Hospitality industry field. The introduction will clearly point to the Action Plan and will show the analyses of the above. The introduction should include the history and position of the business within the industry, the history of innovation (successful and unsuccessful) The introduction should be succinct.

Analysis

The Analysis will be divided into three sections of approximately equal length (three to four pages for each of the three sections; Risk. Competition, Collaboration). Examine how creativity and innovation have impacted the business. Based upon research and analysis design strategies to increase cash, profit and growth through understanding innovation and competitive dynamics within the global marketplace. Analyze and apply decision matrices for creative opportunities, and/or to mitigate risk and/or legal considerations in the global marketplace. One method is to develop collaborative processes across stakeholders, including customers and suppliers to increase creativity and innovation and profitability. This paper will also include a visual representation of their strategy to increase creativity and innovation within the business.

Risk

The risk that is identified for this paper will be clearly explained using data analysis (not opinion).  The risks will generally include a risk that can be solved using the concepts from the PDFs (creativity, innovation collaboration between stakeholders). Risk factors such as “old machinery” or “bad management” does not count as proper risk factors.

Competition

Research and analyze what the competition within the same industry is doing that may be better than the business that was chosen. Opportunities often come from an honest analysis of the competition. The competition chosen does not need to be the largest competitors, but need to be a company that is competing for roughly the same customers. Identify ways that the competition is more collaborative, creative and or innovative. Choose three competitors to analyze. It will be easier if the competitors chosen are those that are publicly held as financial information is readily available. This portion of the paper lends itself to a graph or chart that is followed by analysis (the variables on the left may vary with each business.) Use the below to help you plan it out.

  Chosen company Competitor 1 Competitor 2 Competitor 3
Recent innovation or creativity        
Profitability of recent innovation or creativity        
Profitability of company – or growth within market sector over the last five years.        

 

Remember the section on competition will be three to four pages long and a chart is to provide clarity but is not sufficient in and of itself. To find out more about profitability look for recent articles, securities and exchange

Collaboration

In the above competition section through research you may find that competitors are more strongly collaborative in some creative and interesting ways. This three to four page section of paper will highlight the opportunities that have been found in the research from the risk and competition sections above.  Remember this is not the Action Plan (see below) so do not make recommendations here, but show the data in depth and analyze some of the stronger synergies that have resulted in increased profitability.

 

Action Plan

Develop a plan with exact steps that will be taken to develop collaborative thinking across stakeholders, customers and suppliers to increase creativity and innovation. This Action Plan will include information from the PDF text and shows knowledge and understanding about creativity and innovation. Within this Action Plan you can place yourself within the company that has been chosen and assume that they are part of the Action Plan. The Action Plan is from ¾ of a page to two pages long. The Action Plan is measurable and uses SMART Goals. Remember the Action Plan is built in part on your own ability to be a creative problem solver based off of the PDF texts.

Visual Representation

 

The Action Plan should be shown as a Visual Representation, The visual representation should be no more than one page and no less than a quarter of a page. The visual representation may use any of the following technology (See below). You are to embed the Visual Representation into the Word Document so it will be a single paper. Remember to be creative. Use the following sites for visual representation if you require a free version.

Padlet

Mindmeister

Lucidchart

Infogram

 

Ensure that the paper has the following:

Engaging opening introduces the paper’s general topic and inspires thinking about the topic. Writer explains that they will bring options and opportunities that bring value. The Introduction is easily identifiable, well phrased, and lets the reader know that major supporting points; the idea offered in the thesis reflects sound critical, analytical thinking.

A comprehensive analysis of research, demographic data, competitive analysis, risk competition and collaboration are utilized.  Makes it clear that the goal of analysis to bring value.

You will apply creative and innovative deep thinking to the outline. The PDF text should be applied in an interesting and creative manner.

Effectively integrates credible sources; in-text citations are presented in accurate APA style; paper includes APA style “References” page, listing authoritative sources; utilizes an appropriate balance of quoted material and the writer’s analysis; all source material is accurately quoted, paraphrased or summarized to give authors credit for ideas.  Block and direct quotes are used sparingly and effectively.

Creatively and clearly demonstrates the Action Plan. Shows a deep understanding of information and how successful technology is applied.

Summarizes the topic and the ways to bring value, restating the major supporting points and findings/analysis from each section of the paper, with the purpose of supporting the thesis; states conclusion(s) based on research; ways to  take action or to be open to another way of thinking.

Effective syntax and grammar demonstrate a mastery of writing conventions and serves the author’s purpose; writing is free of misspellings and punctuation errors.

Title of the paper clearly reflects its content. The title and other document formatting demonstrate. APA headings are carefully adhered to.

 

 

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