Holistic Approach to Measure Innovation Performance for Hotel Industry –A Short Review

Abstract

The significant contribution to a firm’s long-term success, innovation has burst as one of the most important determinant of organizational performance. Mainly due to the globalization of markets and the extreme and rapid growth of technology has put tremendous pressure on companies to look for new and alternative ways to compete and survive in the current scenario. Numerous academic researches declare that success rate of service innovations is low and there are only few possible explanations for this assertion. In this current study, the innovation literature will be reviewed followed by the different approaches to measure innovation performance. In this study, we attempt to emphasis on importance of further researches in order to effectively measure innovation in hotel industry.