Trends 2021 – Choose ONE trend from the list below
- Sustainability remains a key consideration for consumers in 2021 (Deloitte, 2021a)
- Digital tools will continue to be crucial in consumer experience management (IBM, 2021)
- The increasing prominence of ‘stakeholder capitalism’ will change how companies do business (McKinsey, 2021)
- Cities are becoming ‘smarter’ in a post-pandemic environment (Sutton, 2021)
- Consumers are seeking more diverse and inclusive experiences (Deloitte, 2021b)
- Appraise how this trend is driving TWO disruptive innovative strategies across ONE sector (travel, tourism, aviation OR hospitality).
- Analyse the TWO most significant challenges facing your chosen sector in striving for competitive advantage in response to your chosen trend.
Introduction
Opening Paragraph(s) – An introductory paragraph setting the broad context of your assignment, stating which trend you have chosen and the broad nature of the TWO sub-tasks set, with reference to your chosen sector (travel, tourism, aviation or hospitality) – it is important to state your terms of reference (the objectives of this study) at the end of your introduction to present your overall ‘question’. Remember, your conclusion (at the end of your report) will (or should) ‘answer’ this question
Paragraph about your chosen trend – what are its key features? Was the trend incremental over time or sudden? What were the key drivers of this trends? 9ensure you provide evidence)
Task (a) Appraise how this trend is driving TWO disruptive innovative strategies across ONE sector (travel, tourism, aviation OR hospitality).
Paragraph – definition analysis of ‘disruptive innovation’ – you can review the 2 words separately and formulate a working definition which frames your study. In addition, you can use Tables to showcase your definitions. See below
Innovation Definition Analysis – put them in chronological order, so that you can determine whether there have been any changes in ‘definition’ over time
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Disruptive/Disruption (in terms of business models) Definition Analysis
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From here, cross-reference both definitions to generate your own working definition of ‘disruptive innovation’ (innovation which……..) for this study
This will then become your theoretical model (with your list of criteria) for framing/reviewing/analysing your chosen organisations across a specific sector.
3-4 Paragraphs – Lead with your chosen sector and how your selected trend is driving 2 disruptive innovative strategies – provide an overview of each disruptive innovative strategy – what are the features of this strategy which align with your earlier discussion/criteria for disruptive innovation – the impact of each strategy on the organisation and the wider community? How are you making judgements here? Evidence needed to support your discussion.
Conclusion Paragraph to Task A – overall conclusion to this task – how ‘disruptive and innovative’ were these strategies? Did they cause a major or minor ‘shift’ in organisational or consumer practices across your chosen sector? Any geographical differences in response? Are some global regions more advanced in responding to this trend? Did the strategies shape your chosen sector in a positive/negative way? How? Evidence to support your conclusion here.
(b) Analyse the TWO most significant challenges facing your chosen sector in striving for competitive advantage in response to your chosen trend
Paragraph – Define competitive advantage – take a similar approach to your definition analysis on disruptive innovation (use a table) – what are the key features of competitive advantage?
1-2 Paragraphs – Review ONE challenge facing your chosen industry in striving for competitive advantage with reference to your chosen trend. How significant is this challenge on your sector/industry? Any geographical differences? Why? Evidence for this?
1-2 Paragraphs – Review ANOTHER challenge facing your chosen industry in striving for competitive advantage with reference to your chosen trend. How significant is this challenge on your sector/industry? Any geographical differences? Why? Evidence for this?
Conclusion paragraph to Task B – overall, how prepared was/is your chosen sector to meeting these challenges (relating to your selected trend) and obtaining competitive advantage? Are you confident that the sector can address these future challenges? Are there differences in organisational mindsets/responsiveness across geographic regions to adapting to your chosen trend?
List of References
- Avoid ‘random’ references from internet searches. Use our online library portal.
- Seek a range of references across (i) industry, academia, government, news outlets, periodicals (eg Time, Economist); (ii) global regions (as there may be different views across different regions)
- Ensure you embed relevant data to support your points (this can be specific evidence) – data can be specific statistics/indexes available, audits on the themes of conferences (this can also demonstrate the relevance of a particular force to your chosen industry); survey results from consumers etc
- Triangulate your evidence more – it is important to provide as much evidence to support your comments (across different sources) in order to add further justification to your point. For example – Citing ONE random source as evidence of a point does NOT form the basis of a convincing point.
- Check the date of your sources – you CANNOT make a judgement on a contemporary theme based on ‘old’ references – avoid references earlier than 2019 (unless you are undertaking a historical overview of a theme) and try to ensure that most of your references are 2021.
- You can include podcasts, TED talks, webinars, conference proceedings/reports, news reports, documentaries as part of your list of reference.
- Expectation of at least 25 high quality references for this assignment at Level 7.
