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Travel and Tourism Entrepreneur Doc

   

Added on  2020-10-22

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Travel and Tourism Entrepreneur

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1A) Entrepreneurial traits and skills required to be a successful travel and tourism entrepreneur......................................................................................................................................................1B) Evaluation of (self-assessment) of entrepreneurial traits and skills ......................................2TASK 2 ...........................................................................................................................................3A) Successful travel & tourism entrepreneur and analysis of their business developmentstrategy........................................................................................................................................3TASK 3 ..........................................................................................................................................4A) Evaluation of the sources of finance and support available for the proposed project...........4B) Business plan with a market assessment, business analysis and cash-flow analysis............5C) Persuasive business plan for the Travel and Tourism start-up project..................................7CONCLUSION ...............................................................................................................................8REFERENCES ...............................................................................................................................9.......................................................................................................................................................11

INTRODUCTIONTours & tourism is considered as most attractive and premium industry now a days. Inthe current scenario, there is a large amount of travellers, so in that case it is the major duty oftravels agency to regulate and provide sources to the travellers to resolve their issues andproblem. In the current scenario, people used to travels a lot whether monthly, weekly orquarterly etc. An business opportunities are relatively less in this field. There is a core chance foran entrepreneur to start their own entities or enterprise in tourism sector(Komppula, 2014).This report will carried on the entrepreneur opportunity for the newly formed ParamountWanderer which is located in Manchester, United Kingdom. This firm will operates in tourismsector which includes holiday packages, tourism services, travelling consulting services etc. totheir customers at an affordable prices and cost. They are mainly aimed at saving time and costof their travellers with providing them almost super an best quality out of the company services.This will focus on how entrepreneurship is important aspect in the development of an individualto achieve their career path by starting up the ventures or entities to achieve productivity andeffectiveness(Shaw, 2013).This whole report will put light on Traits and skills required for the future entrepreneursin the tourism services. It will perform the self-appraisal or assessments about the skills and traitsof an employee and also identify their strength and weakness to overcome the various issues. Itwill also discussed about the one successful entrepreneur of all time and how their business hasgrown to the greater extent and purpose. It will also about the Thomas Cook, which was theleading travel agency around the United Kingdom. It will focus on sources of finance requiredfor starting the entrepreneurship and its marketing assessment, business analysis and cask budgetanalysis(Williams, 2016). TASK 1 A) Entrepreneurial traits and skills required to be a successful travel and tourism entrepreneur. Travel and tourism is considered as most innovative and stylish industry now a days.Entrepreneur opportunity is wide and broad in this sector, because tourism has become diverse inthe parts of the world. For being as an entrepreneur for the tours and travel industry, there arevarious traits and skills which are required for being a perfect entrepreneur. Along with this,

there is a need of understanding the strength and weakness for being an entrepreneur are asfollows:(Smith, 2014).SkillsTime management: It is considered as most frequent and useful skill to manage time andresources. Every person who wants to be an entrepreneur needs to learn about the propermanagement of time and work efficiency. For the tourism industry, time management is crucialfor making achieved an opportunity in this sector with the help of management oftime(Chaisawat, 2012). Financial and market awareness: Especially in case of tourism, it is important to have anadequate knowledge and information of the current financial and market scenario. For thestarting entrepreneurship, there always a need arrival of the funds or monetary resources, it issignificant to know about the current financial and market trends running in the tourism industry.Ability to learn: Every entrepreneur needs to be frequent and effective learner in order tograb more new things and opportunities easily. They must have adaptability and empowermentfor being motivated and equipped with advance knowledge and information(Lew, 2014). Quick decision making: Entrepreneur should be fast mover with right choice and decisionmaking even in both critical and tough time. If any problem arises, instant decision making willbe suitable and beneficial to tackle such as situation etc. TraitsFull of determination: When a person look out for becoming the successful entrepreneur,it will require the clear set of goals and targets which need to be achieved thereon. Types ofworkload and frequent challenges has led many people to stop following their entrepreneur astheir career path. Hence, it is necessary to be full of determination and set decided goals. Craves learning: For successful entrepreneurship, person needs to be constant learner andpassionate towards learning new things and increasing their knowledge and information.Learning enables particular person to apply and upgrade their business and task to achievedesired goals or targets. For tourism industry, it is necessary to know information andknowledge about the different places and countries to wonder(Lindsay, 2012).Effective personality: It is necessary for every entrepreneur to be well groomed andpersonalized with several traits such as attitude, behaviour and interaction. If personality andattitude is positive, it would be easy to get resource for running the business(Hall, 2013).

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