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The chapter presents a mechanism of innovational development of cluster of the hospitality industry in the system of region's economic security, which formation takes place in the conditions of complex turbulent state of economy, which leads to crises of various scales and volumes. Cluster is treated as a platform that unifies efforts and partnership interactions between large, medium, and small business and synthesizes expectations of consumers on the basis of territorial concentration of readiness to care about a customer in the form of provision of the need: (1) selection and readiness of consumer to accept a specific complex service of the hospitality industry (with tourist service complexes); (2) movement (with transport complex); (3) accommodation (with hotel complex), (4) readiness for catering (with catering complex); (5) entertainment (with participation of complex of entertainment); (6) security (with security complex). The process of clustering leads to a new treatment of the notion of competition, development of capabilities to be a business partner, and finding advantages in generation of innovations together with intermediaries and neighbors.

Pro-poor innovations are innovations targeted at economically poor consumers. These innovations have the potential to improve consumer wellbeing. However, while take up of some such innovations has been rapid (e.g., mobile phones) take up of others has been slower (e.g., fuel efficient stoves). What explains why some pro-poor innovations fail and some succeed? While the literature on consumer innovation adoption in economically wealthy countries is vast, there is very little literature in the context of the “bottom-of-the-pyramid” (BoP) and subsistence marketplaces. This chapter aims to begin answering this question through a review of the extant literature in the area of consumer innovation adoption, which is integrated with literature in the area of consumption within subsistence marketplaces and the BoP. A conceptual model is proposed which outlines key parameters for marketers and managers. The chapter closes by outlining implications and a future research agenda.

Digitalization and marketing technologies have made it possible to overcome some barriers to pricing – a multidisciplinary field between marketing, finance and IT – and have set the stage for a paradigm shift in the pricing profession. Value creation, the pricing process, and price communication have been transformed by innovative business models and advanced algorithmic and human–machine solutions. This chapter synthesizes the literature to date and provides a comprehensive framework for an all-encompassing 360° pricing approach that broadens the understanding of pricing in the context of digital business across all steps of the price management process. Starting from product attributes and motivational beliefs in consumers' value assessment and adoption of (technological or digital) products or services, new business models and pricing models emerge in the digital economy, human–machine solutions for price implementation and repricing are increasingly applied, and price search and communication take place through a variety of digital communication channels. Each stage of this framework discusses concrete examples, highlighting the freemium strategy, the subscription model, price tracking and repricing tools, and digital price information channels such as e-commerce, marketplace, or price comparison platforms. The implications for price management in a digital, technology-driven landscape are discussed from the executive level to the analyst level.

In some organizations action is taken to stimulate creativity and innovation. The right steps may have been taken, such as involving employees in decision making, recruiting and appointing employees who evidence characteristics of creativity, setting standards for work performance and giving regular feedback, yet creativity and innovation are hampered in some way. The culture of an organization may be a factor contributing to the extent to which creativity and innovation occur in an organization (Johnson, 1996; Judge et al., 1997; Pienaar, 1994; Shaughnessy, 1988; Tesluk et al., 1997; Tushman & O’Reilly, 1997 in Martins & Terblanche, 2003). The current organizational culture and the demands of creativity and innovation may lead to a conflict situation.

COVID-19 is a pandemic that is a black swan event that has disrupted the economic activities in the whole world. Organization for Islamic Cooperation (OIC) is the second largest international organization that unites Muslims to collectively protect their interest by having a global platform to voice out their concerns. This is an exploratory research of which the objective is to understand the implication of this pandemic on OIC countries to suggest ways in which pandemic related economic challenges facing these countries could be resolved. This research identifies four key economic challenges faced by the OIC countries: challenges in adapting to new normal in in re-starting the economic activities; issues in formulating effective plans for economic recovery; increase in poverty, unemployment and inequality in societies; and disruption to global economy chains. To overcome these economic challenges identified, fives recommendations are proposed via which OIC could play the leading role in ensuring that OIC countries could leverage each other to rebound the respective economies in the shortest possible time. The recommendations proposed are made not to gain short term benefits; but they are proposed considering the long-term benefits it will give to the economies of member countries of OIC. The recommendations proposed are: creating a fintech ecosystem for financial services and introducing OIC electronic commerce market; formulating strategies to implement shared prosperity via effective implementation of Islamic social finance; adopting Blue Ocean Strategy; promoting Islamic economic principles; and implementing circular economy concept. It is anticipated that through this research the economic challenges faced by Muslim countries due to the pandemic can be understood and the recommendations proposed could be utilized by the government and policymakers of the respective countries to resolve the challenges identified.