PRODUCT IMPROVEMENT OR INNOVATION: WHAT IS THE KEY TO SUCCESS IN TOURISM? by Klaus Weiermair Professor and Head of the Center for Tourism and Service Economics University of Innsbruck Abstract This paper is built like a three–layered club house sandwich with the first layer providing some theoretical and conceptual insights regarding expected innovation behaviour in tourism based on available material in tourism and industrial economics. The second layer will provide empirical insights and/or testing
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History of Civiliaziton Civilization or civilisation (in British English) generally refers to state polities which combine these basic institutions: a ceremonial centre (a formal gathering place for social and cultural activities)‚ a system of writing‚ and a city. The term is used to contrast with other types of communities including hunter-gatherers‚ nomadic pastoralists and tribal villages. Civilizations have more densely populated settlements divided into social classes with a ruling elite and
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to tools and machines. According to Sen(1999)‚ technology is‚ “the means or activity by which human beings seek to change or manipulate their environment.” Over a long period of time the history of technology inevitably highlights the moments of innovation that show this cumulative quality as some societies advance‚ stage by stage‚ from comparatively primitive to more sophisticated techniques. Technology refers both to the artefacts created by humans such as machines and the methods used to produce
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Economic Principles Q1) Computer chips are inputs in the production of computers. Because of the decreasing costs of inputs‚ the supply of computers increases. This relates to the law of supply where there is a direct relationship between the price and quantity supplied‚ ceteris paribus. The market supply curve is the horizontal summation of individual supply curves. Therefore there would be a rightward shift in the supply curve for computers from S to S1‚ resulting in higher quantity‚ lower price
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Introduction Ancient Rome civilization is one of the classical antiquities beside ancient Greece. It grew out of a small agricultural community founded on the Italian Peninsula 10th century BC. It cantered on city of Rome and located along the Mediterranean Sea. It became one of the largest empires in the ancient world. Body Law Ancient Romans had developed an excellent law system. Until the end of the 18th century‚ most of Western Europe used this legal system. The root of Romans Law is called
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Korean civilization and Mayans civilizations were very different. First of all‚ they are located in the opposite side of the world. Secondly Koreans belongs to Asian society and Mayans to Central and South Americans. They eat different kind of food‚ and live in different environment/government system. Koreans are the people who have long history. People say that ancient Korean originated from Mongolia‚ as the time went on‚ people from a little villages started to movie down. As they grew bigger
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A disruptive innovation is an innovation that helps create a new market and value network‚ and eventually goes on to disrupt an existing market and value network (over a few years or decades)‚ displacing an earlier technology. The term is used in business and technology literature to describe innovations that improve a product or service in ways that the market does not expect‚ typically first by designing for a different set of consumers in the new market and later by lowering prices in the existing
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now we could never live without it. This shows the high degree of expectations and faith in technology that is apparent everywhere around us. Technology was once considered a luxury‚ now it is a necessity. There are two methods of coping with technological change: accept it and implement it or oppose it and try to stop its progress. There are many positive reasons why our society should accept and implement technology. Technology has advanced our societies health care with the discovery of new
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“reverse innovation”‚ “frugal innovation” or “jugaad innovation‚” product development in emerging markets such as India and China is attracting more and more notice‚ even leading some to wonder whether these countries will not be posing a formidable challenge to the best-established Multinational Companies of the advanced nations in the near future. The essay should address the question: Are companies from India and China going to take over multinational companies? Frugal Innovation: Is the future
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Swedish Economic Development - Lecture 7 The 1920s United States shifted from being an IMPORTER of capital to an EXPORTER First half of the 1920s was wanting to make Germany pay. Germany’s resistance resulted in hyper inflation in Deutschland. USA’s solution The Dawes plan(1924) loans to finance the german reparations; transmitted thru int finance networks (kreuger) In Sweden‚ Kreuger borrowed money directly from wall street European govts deeply indebt. ** first half of the
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