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Innovation could help bring in more revenues for industries, for the government, and for the overall economy. It is a never-ending process and a way in which industries learn to adapt to the changing needs and wants of the general public (Schaffer & Paul-Chowdhury, 2002).
In this postmodern society, some of the best innovations are through media. The dawn of computers and information technology (IT) has also been the go signal for media innovations. The wonders of the internet has already brought us online social networks, not to mention blogs, forums, and chat rooms where people of all walks of life can put across their personal sentiments, conduct their private businesses or simply socialize while glued to their seats. This virtual enterprise has especially made a difference on the business interests of the tourism industry. Governments from various countries as well as private companies specializing in travel and tours are now seeing the cost-efficient way of promoting native destinations to the rest of the world via the internet (Steinbock, 2003, pp.109-121). There is no need to send travel brochures or pamphlets by manual mail. Today, the tourism industry can simply build websites with state-of-the-art “Virtual Tour” features and attract tourists from around the world.
Virtual tourism has had a mixed reception, which is why this essay will scrutinize its benefits and disadvantages in modern-day tourism. Following a discussion on the pros and cons of this ground-breaking media innovation, this essay will also present a country case study dealing with the impact of virtual tours and virtualization in Portugal.
Virtual tours are mock models of sceneries, shops, or places that help to promote the real ones. Also a kind of virtual reality accessible through several tourism websites, virtual tours are a set of continuous pictures, videos, and other multimedia that enables viewers to move from place to place with just a
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Entrepreneurial steps for innovation 8 6. Innovative Organization 9 7. Mergers, partnerships and alliances promoting Innovation 15 8. Conclusion 16 9. References 17 Introduction Innovation and Change have become 'buzz words' in the last one decade (2000-2010) and it is expected to be more buzz during the current and next ten years (2011-2020).
Both researchers as well as business managers deem innovation as “life-and-death matter for a firm” (Weiss, 2013). The extreme threat of competition and continued need to fight for survival fosters organizations to bring innovation into their system. Researchers from the field of business and management have found that organizations which have the capacity to innovate can respond at a much faster pace to the challenges of the environment than companies which lacks innovative capacities.
Older product are available at much cheaper price. (Thompon, 88-119)
Innovation i the key to future buine ucce. In a highly competitive environment when emerging problem need new and more efficient olution and where new competitor are alway in the competition, companie that do not ee invetment in innovation a important are at rik.
A market driven company ensures that it is able to get market for their products by focusing on the market and customers. For example, Cisco is a market driven company. The company’s every decision is based on its customers, and it always tries to ensure that the
Nike has remained competitive in the industry by focusing on standards which have boosted its business. It has strengthened its processes and communicated to the audiences in such a way that there is a personalized feeling available with the brand. The development has been
This motivated the company to introduce the manufacture of the processors. The adequacy of the market demand was the motivating factor for the company to venture into the business. The leadership of the company eyed for the availability
Google relies heavily on innovation for its growth. Google recruits “the best and brightest”(top GPAs,top schools, in spite of experience and age).It has also created atmosphere which is the desire of every
For example, people now cannot do without mobile phones, mega cities can hardly operate without railway connections to move populations from end to end thereby reducing road congestion and cars nowadays are hardly built without microchips for safety reasons. Everyday life
As the report stresses human resource management has a crucial role to the growth of innovation. This is because employees are the people who understand what needs to be done to improve customer experience. The lists the pros and cons of innovation and sound human resource practices that facilitate innovation.
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