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Innovation in Icelandic Tourism. a Case Study

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Innovation in Icelandic Tourism. a Case Study Innovation in Icelandic tourism. A case study. Verena Schnurbus Innovation in Icelandic Tourism. A case study. Verena Schnurbus Thesis for a Master´s Degree in Strategic Management Advisors: Runólfur Smári Steinþórsson Eyþór Ívar Jónsson Faculty of Business Administration School of Social Science, University of Iceland May, 2017 Innovation in Icelandic tourism. A case study This thesis is equivalent to 60 ECTS towards a Master´s degree at the School of Business Administration, University of Iceland. © 2017 Verena Schnurbus This thesis cannot be reproduced without the author´s permission. Printed by: Háskólaprent Reykjavik, 2017 Abstract The purpose of this thesis is to find the key to success in supporting innovation in clusters and companies in tourism. The Icelandic tourism cluster and companies operating in tourism were chosen as subjects which could fulfil the requirements for a single case study with multiple units of analysis in order to draw conclusions of innovative activities and processes within clusters and companies. Innovative capabilities on a company level were assessed by open semi-structured interviews with tourism company representatives. Literature confirms that innovation within companies is a necessary to stay ahead of competitors and to be able to offer new value to its customers. It is clear that innovation within clusters are strengthened through stronger collaboration and competition among its members, diffusion of information and (tacit) knowledge, but also through its local culture and specific infrastructure such as research institutes. Tourism clusters are characterised by their (natural) environment and the specific region of the cluster as production and consumption of tourism products takes place in the same area. However, tourism clusters are often vague, as many complementary companies have a stake in the cluster and locals or the local community are directly affected of the cluster and/or are part of it as well. Literature study in this thesis reveals that innovative activities in tourism clusters are supported by seven key success factors: collaboration and cooperation, infrastructure, leadership, funding and resources, policies, local community, and strategies to innovate. In this thesis the results show that tourism companies within the industry are not accountable for innovations alone, as the industry has wide-reaching dimensions into other industries. Innovative products in companies operating in Icelandic tourism are interactive, personalised for the customer and usually designated for a smaller customer market. Innovations were developed with collaboration of research institutes or organisations of other industries. Successful innovative companies in Iceland have a clear vision, are confident and target-driven in their endeavour. They see and exploit opportunities at the right time and can adapt to the market and fulfil customer needs timely. Through innovation new customers can be attracted or new markets developed 3 which will give destinations new opportunities to develop and to define themselves in a new way. Further results show that supporting innovation on a company level will be limited on single companies whereas supporting the infrastructure on a cluster level will on the other hand smitten, and funding within the cluster and support will result in a greater number of start-up companies and innovative products. In generally it can be said that tourism cluster support is more important than supporting single companies in tourism. 4 Table of contents List of figures ................................................................................................................... 9 List of tables .................................................................................................................. 10 1 Introduction ............................................................................................................. 11 1.1 Structure of the thesis ...................................................................................... 15 2 Research methodology ............................................................................................ 17 2.1 Qualitative research ......................................................................................... 17 2.2 Literature study ................................................................................................ 17 2.3 Case Study ........................................................................................................ 18 2.3.1 Research design .................................................................................... 19 2.3.2 Semi-structured interviews .................................................................. 20 2.3.2.1 Data collection ............................................................................... 20 2.3.2.2 Data analysis through coding ........................................................ 21 Part I: Frame of references ........................................................................................... 23 3 Literature review of competitiveness ..................................................................... 24 3.1 Theory of competitiveness ............................................................................... 24 3.2 Competitiveness of nations and its measurements ......................................... 27 3.2.1 The microeconomic business environment: The Diamond Model of National Advantage .............................................................................. 29 3.2.1.1 The role of the government in the Diamond Model ..................... 32 3.2.1.2 Critics of the Diamond Model approach ....................................... 33 3.3 Regional Competitiveness ................................................................................ 34 3.4 Competitiveness of companies ........................................................................ 36 3.4.1 Porter´s Five Forces .............................................................................. 37 3.5 Summary of chapter 3 ...................................................................................... 39 4 Literature review of cluster theories ....................................................................... 40 4.1 Defining clusters ............................................................................................... 40 4.2 Development of cluster theories ...................................................................... 41 4.2.1 The economic stream ........................................................................... 43 4.2.2 The innovative and knowledge-based stream ..................................... 43 4.3 Cluster members .............................................................................................. 46 4.3.1 The benefits of the company in a cluster ............................................. 47 4.3.2 Networks and Clusters .......................................................................... 48 4.3.3 The role of government in clusters ...................................................... 50 4.4 Development and life cycle of clusters ............................................................ 51 4.5 Clusters in tourism ............................................................................................ 54 5 4.5.1 Characteristics of tourism clusters and destination competitiveness . 54 4.5.2 Research of tourism clusters ................................................................ 56 4.5.3 Application of tourism clusters ............................................................. 57 4.6 Critics and limitation of the cluster approach .................................................. 58 4.7 Summary of chapter 4 ...................................................................................... 59 5 Literature review on innovation .............................................................................. 61 5.1 Defining innovation .......................................................................................... 61 5.2 Types of innovation .......................................................................................... 62 5.3 Innovation theories .......................................................................................... 63 5.3.1 The Austrian School of Economics........................................................ 63 5.3.2 Joseph Schumpeter .............................................................................. 65 5.3.3 Peter Drucker ........................................................................................ 67 5.3.4 Innovation studies and entrepreneurship today .................................. 68 5.4 Innovation policies and the role of government .............................................. 68 5.5 The innovation system ..................................................................................... 69 5.5.1 Innovation within clusters .................................................................... 70 5.5.2 Innovation in companies ...................................................................... 71 5.5.2.1 Innovation strategies for companies ............................................. 72 5.6 The Innovation process .................................................................................... 73 5.6.1 Models of the innovation process ........................................................ 73 5.6.2 Creativity ..............................................................................................
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