IMPLEMENTING MVP TO TEST THE HYPOTHESIS OF IMPLEMENTING A DIVERSIFICATION STRATEGY FOR ENTERPRISES IN THE TEMPORARY ACCOMMODATION AND CATERING INDUSTRY
DOI:
https://doi.org/10.31891/mdes/2023-8-12Keywords:
Minimum Viable Product, diversification of activities, temporary accommodation and catering industry, innovative approaches, sustainability and competitiveness, hypothesis validation, expansion of services and products, strategic planning and management, project managementAbstract
The article focuses on the necessity and positive effects of implementing a Minimum Viable Product (MVP) to test hypotheses regarding diversification strategies in the temporary accommodation and catering industry. This sector constantly faces challenges that require innovative approaches to ensure sustainability and competitiveness. The article discusses the importance of using MVP as an effective tool for validating the benefits of diversifying activities in the industry. It examines the process of implementing MVP with a general example of companies in the sector that adopted a strategy of expanding their range of services and products. The main advantage of MVP is that it efficiently tests various ideas and only implements successful ones, thereby reducing the risks of financial losses.
The article emphasizes the significance of strategic planning and thorough analysis of MVP results before scaling up the new business model. The research helps companies in the industry understand the advantages of diversification and identify the optimal path for development, increased profitability, and meeting customer needs. In summary, the article reveals the potential of using MVP as an effective instrument for testing hypotheses and implementing diversification strategies in the field of temporary accommodation and catering. This allows businesses to achieve stability and success in a dynamic market environment and cater to the needs of different customer groups.
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