EP Insights & Action
Expert observers comment on the Industry. This magazine is designed to bring together the thought leadership, ideas and opinions of leading consultants and operators from across the industry. EP's vision is to create an open narrative and debate that explains the perspective and thinking on the market and Industry. It will help all progress, so let us know your thoughts, subscribe and be involved.
Expert observers comment on the Industry. This magazine is designed to bring together the thought leadership, ideas and opinions of leading consultants and operators from across the industry. EP's vision is to create an open narrative and debate that explains the perspective and thinking on the market and Industry. It will help all progress, so let us know your thoughts, subscribe and be involved.
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COMMENT INNOVATION IN THE WORKPLACE<br />
© FAZON | 123RF.COM<br />
<strong>EP</strong> therefore creates bespoke innovation<br />
centres on behalf of companies. These can<br />
introduce between five and ten new cutting<br />
edge ideas, concepts and technologies over<br />
a year. In addition to adding to the offer and<br />
potentially improving the customer journey,<br />
there is the opportunity for businesses to<br />
communicate their support of SME and<br />
entrepreneurial businesses and create change<br />
within the Hospitality industry through their<br />
own and also <strong>EP</strong>’s communication channels.<br />
By actively supporting entrepreneurial<br />
businesses, companies can support and<br />
enable real value and real change within their<br />
practices and within the industry as a whole.<br />
It is ideal for those who do not know where to<br />
start with innovation.<br />
Companies involved in this process receive<br />
access to innovation and are also given<br />
recognition for their interest in it. There<br />
should be no limit as to where innovation<br />
comes from, but it is hard to find, so those<br />
who work with <strong>EP</strong> also receive access to:<br />
n Monthly Innovation Forums and Dragon’s<br />
Dens events which include priority access to<br />
new businesses.<br />
n Opportunities to trade with, invest in or<br />
acquire relevant entrepreneurial companies.<br />
n Introductory meetings of entrepreneurial<br />
businesses which corporates have expressed<br />
interest.<br />
As the industry grows, more companies are<br />
moving away from heavy, complex processes<br />
because this slows innovation down. There<br />
will always be an argument that ideas can<br />
come from within a business but ideation<br />
shouldn’t be mistaken as innovation. It<br />
can be a long journey to create potential<br />
value from an idea. Therefore accessing<br />
innovation, from market sources, can solve<br />
problems or create solutions in a much<br />
quicker, easier format.<br />
It is also important to note that putting<br />
everything into an idea and never getting<br />
actual innovation can be a troublesome road<br />
to travel. Exploring all the possible routes<br />
for innovation can improve the focus and<br />
process at the same time.<br />
Some organisations will look to lead the<br />
market and adopt the latest ideas, others will<br />
listen to the market and take on board the<br />
companies as they begin to make an impact<br />
and a few will get left behind. It doesn’t have<br />
to be this way but since the 1960s innovation<br />
has been monitored and many now know<br />
it is needed for adding value. It is a wellknown<br />
example but worth referencing again<br />
– Airbnb doesn’t own a single hotel, but is<br />
the world’s largest accommodation provider<br />
– its business model is based on a platform<br />
enabling people to share their own spaces.<br />
Their identity isn’t as a supplier but a creator<br />
of a specific service.<br />
epmagazine.co.uk | 33
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