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Innovative Approaches in Tourism Business Development

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015

Author

Listed:
  • Stanovčić, Tatjana
  • Perović, Đurđica
  • Peković, Sanja

Abstract

In order to provide superior experience for tourists, innovative approaches in tourism business and product development are needed. The objective of this paper is to highlight the key challenges in creation of innovative tourism business opportunities, and provide wider understanding of its importance, especially for SMEs. A review of relevant literature on innovations in tourism is undertaken, then focusing on the specific issues in areas of potential forms of innovation. Specialisation, thematisation, inscenation, diversification and resort concept are identified as key innovative opportunities. On the other side, several management and marketing issues are identified regarding mentioned innovative approaches. First of all, competitive tourism environment generates need for cooperative forms of business behaviour, where networking provides additional sources for implementation of innovative initiatives, especially by SMEs. Key benefits of innovations in tourism business are noted and clearly defined, but in the practical sense, these opportunities are still, to a large extent, underused.

Suggested Citation

  • Stanovčić, Tatjana & Perović, Đurđica & Peković, Sanja, 2015. "Innovative Approaches in Tourism Business Development," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2015), Kotor, Montengero, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015, pages 512-516, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    • Handle: RePEc:zbw:entr15:183690
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    References listed on IDEAS

    as
    1. Gilles Grolleau & Naoufel Mzoughi & Sanja Pekovic, 2013. "Is there a relationship between workplace atmosphere and innovation activities? An empirical analysis among French firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(6), pages 566-580, September.
    2. Moric Ilija, 2013. "Clusters as a Factor of Rural Tourism Competitiveness: Montenegro Experiences," Business Systems Research, Sciendo, vol. 4(2), pages 94-107, December.
    3. Camisón, César & Monfort-Mir, Vicente M., 2012. "Measuring innovation in tourism from the Schumpeterian and the dynamic-capabilities perspectives," Tourism Management, Elsevier, vol. 33(4), pages 776-789.
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    More about this item

    Keywords

    innovations; tourism; specialisation; diversification;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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