Skills for Travel and Tourism Start-ups : Assignment

Added on - 21 Jul 2020

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Skills for Travel and TourismStart-ups
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Skills of successful entrepreneurship....................................................................................31.2 Merits and Demerits benchmarked to successful entrepreneur............................................4TASK 2............................................................................................................................................62.1 Development of an entrepreneurial enterprise......................................................................62.2 Factors that have led to the success of an enterprise.............................................................7TASK 3............................................................................................................................................83.1 Sources of finance and support.............................................................................................83.2 Potential for success of a concept for an enterprise in a travel and tourism context............93.3 Effective business start-up plan.........................................................................................10CONCLUSION..............................................................................................................................11....................................................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONTourism is a journey for pleasure and also the theory of touring. These are the enterprisesof appealing, entertaining, obliging tourists and entity of organising tours. It may meinternational or within the country of the traveller. It can be domestic or worldwide and has bothinternal and external impacts on the balance of payments of a nation (Egger, Gula and Walcher,2016). Now a days, this sector is a major component of income and affects the wealth of both thesource and presenter territory. Present report is based on the Thomas Cook which is the wellknown name in this industry. It owns various tour operators ans airlines as well based in UK.TASK 11.1 Skills of successful entrepreneurshipEntrepreneurship is determined as the procedure of organising, designing and carryingout a new venture that starts as a micro business that offers goods for rent or sale. The peoplewho establish such enterprises are called as entrepreneurs. He/she is a person who exerciseimaginations by managing an organisation to take advantage of an option and act as the decisionmaker. He is the only one who determines what, hoe and how much commodities will bemanufactured (Evans, Stonehouse and Campbell, 2012). It has been also described as thewillingness to discover, mange and control a company along with the related risks with regard tomake revenues. For achieving success in a business a person required a number of skills that areas follows-Self-motivation-Most important feature that is needed by an entrepreneur is the abilityto wake up early to start functioning. They require it to perform tasks according to the strategymade for the achievement of the objectives. It also helps them in motivating their employees tomake them work towards the attainment of the overall goals of the organisation that results ingaining success.Self-confidence-All the businessmen needed to have faith about their gods andcompany. It is very important for them to perceive that products can help them in deciding theprice of the commodity that is equitable for both customers and themselves (Dickinson andLumsdon, 2010).
Ethics and morales-For every successful businessman these are considered asfoundation. First it needs to be decide what enterprise and entrepreneur will working for andwhat are the limits that are not required to be crossed. Most of the businesspersons restrict theiringress for the cause that legal tender overtakes their honesty. Being too far from the ethos willlead in bad impression of tycoon and business both. No one wants to in enterprise with anindividual who is distant from spirit.Time management-It is a key to achieve success in business but it alone is not enough.New businesspersons needs to apprehend the value of time (Medlik, 2012). Utilisation of hoursin learning innovative skills with the enterprise and identifying tools for advertising andapproaching customers.Sales-Every business needs to work with it because it each organisation adopt only onetool of handling hires. Being an entrepreneur, it is their duty to develop what type ofmerchandise should be desire and are good for commodities.Finance-This knowledge is necessary for every enterprise. Apprehension of balancingtrack of amount of statements is all most underdeveloped business desire for commence. Mostimportant aspect of it is micro entity is scheduling time significantly for administration ofwealth. Implementing it will support to involve a grade in considering ability is voluntary.1.2 Merits and Demerits benchmarked to successful entrepreneurTravel and tourism entrepreneur are depended upon the various significant influencingelements. These factors are called as characteristics that are required to be present in a successfulbusinessman. It plays an important role in the technological, social and economic development.Entrepreneurship is a process of establishing a new company or commercial entity, ordinarily inan enterprise or sector of economy with a huge capacity of expansion (Lee-Ross and Pryce,2010). Reflecting and evaluating one's merits and demerits are essential areas desired to discoverand focus to identify the available options and future disputes are as follows-Disciplined-Entrepreneurs focus on construct their business work and get relieve fromevery obstacle and interruption arise in their objectives. They always plan strategies that areambient and tool to obtain their goals (Sigala, 2017). Businessmen who are successful are veryregiment towards the achievement of their outcomes and take a step regularly for its attainment.
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