Summary: Selling The Business / Blok 2
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6 EXAM preparation
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6.1 ILO commercial
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What influences commercial department structure?
- Size
- ownership
- management
- Size
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What's the difference between a direct and indirect dfistribution channel?
A channel where guests book directly with the hotel without any intermediaries/third parties involved.
A channel where a third-party intermediary (tussenpersoon) sits between the hotel and the guest. -
Key difference between a franchise and a chain/brand hotel?
In a franchise (like Holiday Inn Express), the owner pays to use the brand but operates independently. In a chain hotel, the corporation owns or leases the property and operates it directly - they have full operational and financial control. -
6.2 ILO Research
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Steps for conduction experiments:
- Selecting matched groups of subjects
- giving them different treatments
- controlling unrelated factors
- checking for differences in group responses
- Selecting matched groups of subjects
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6.3 ILO Innovation
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Difference between sustaining innovation and disruptive innovation:
Sustaining innovation:- Improvements to existing products for existing customers
- Example: iPhone 14 → iPhone 15 (better camera, faster processor)
- Companies continue serving their current customers with better products
- disruptive innovation:
- Creates a new market or completely changes an existing market
- Often starts in a niche market with customers ignored by large companies
- Initially "worse" than existing products, but cheaper and more accessible
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What are the 4 Ps of innovation:
Paradigm innovation: changes in business model (partnering with airlines) outcome: long-term competitive advantages through revenue stream diversification process innovation: changes in the way products / services are delivered (digital housekeeping checklist) (HOW you do something) INTERNAL CHANGE outcome: increased efficiency (lower costs) (internal change) position innovation: changes in the context with product / services are delivered (conference rooms re-branded to content room (FOR WHO OR WHERE EXTERNAL CHANGE outcome: new markets / market segment product innovation (changes in the products or services (vegan menu) outcome: increase revenue (higher prices or higher demand)
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What is a good investment? How to justify spending money in innovations?
- ROI (return on investment): what is the minimum acceptable return
- (total benefits - total costs) : total cost x 100
- payback time: how long before you need to earn money back
- ROI (return on investment): what is the minimum acceptable return
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What do the appropriability problem & tech model of innovation explain?
These concepts explain why innovators often don't capture the value they create - and what they need to do to actually profit from their innovations. -
The three factors who determine who profits: (1)
- Regime of appropriability ( how easy is it to protect your innovation from being copied?
- trademarks, copyright, trade secrets that are hard to reverse, high tacit knowledge (knowledge that is hard to copy)
- fashion design= weak (easy to copy, limited protection) / coca-cola formula= strong (trade secret 100+ years)
- Regime of appropriability ( how easy is it to protect your innovation from being copied?
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Who controles complementary assets?
This is CRITICAL - whoever controls the specialized/co-specialized complementary assets often captures the value!
Apple iPhone:Innovation: Touch screen smartphone Complementary assets: Brand, retail stores, App Store ecosystem, manufacturing relationships Result: Apple controls assets → Apple profits massively HOSPITALITY: Hotel Innovation vs. OTA Control- Independent Restaurant vs. Delivery Platform
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