Launch Your Hospitality Innovation Initiative to Success
A step-by-step guide to help you complete the business case for innovation.
Book This WorkshopNevertheless, there are important disadvantages to be aware of if this approach is not adopted:
- Lack of Direction: May result in innovation efforts that are not aligned with organizational goals, leading to less impactful initiatives.
- Uninformed Decisions: Without thorough analysis, decisions may be based on incomplete information, increasing the risk of failure.
- Weak Justification: Lack of a comprehensive business case and clear benefits might make it difficult to secure sponsor commitment and stakeholder buy-in.
Completing these activities offers several significant advantages that can greatly benefit the organization:
- Strategic Alignment: Ensures innovation efforts are aligned with organizational goals and top problems, leading to more impactful and relevant initiatives.
- Informed Decision-Making: Provides thorough cost-benefit analysis and clear definition of benefits, which helps in making well-informed decisions and securing sponsor commitment.
- Comprehensive Planning: Develops a professional business case and visual representation of innovation processes, facilitating better planning and communication of innovation strategies.
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Onsite Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn’t enough, we offer low-cost onsite delivery of our Project Workshops. We take you through every phase of your project and ensure that you have a road map in place to complete your project successfully.
Book NowModule 1: Leverage Value Chains to Make the Case
The Purpose
Streamline and enhance innovation efforts by aligning them with organizational goals and addressing top problems.
Key Benefits Achieved
- Ensures innovation efforts are strategically focused on achieving organizational objectives.
- Identifies and prioritizes high-value initiatives based on their impact on capabilities.
- Provides a clear visual representation of ideal innovation processes and viable alternatives.
| Activities: | Outputs: | |
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| 1.1 | Clarify the meaning of innovation. |
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| 1.2 | Identify the top problem. |
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| 1.3 | Assess the impact on capabilities. |
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| 1.4 | Map the optimized value chain. |
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| 1.5 | Explore alternative options. |
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Module 2: Establish Business Value, Accountability, and Create a Board-Ready Presentation
The Purpose
Create a compelling and well-supported innovation business case that secures sponsor commitment and showcases the recommendation.
Key Benefits Achieved
- Provides a thorough cost-benefit analysis to ensure informed decision-making.
- Clearly defines benefits to effectively secure sponsor commitment.
- Develops a comprehensive and professional business case to support innovation initiatives.
| Activities: | Outputs: | |
|---|---|---|
| 2.1 | Conduct a cost-benefit analysis. |
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| 2.2 | Define the business value and accountabilities. |
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| 2.3 | Document project must-haves. |
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| 2.4 | Articulate business rationale. |
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| 2.5 | Showcase alternatives analysis. |
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| 2.6 | Craft final recommendation. |
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