Travel and Tourism Entrepreneur: Doc

Added on - 12 Nov 2020

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Travel andTourismEntrepreneur
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1(A) Entrepreneurial Traits and Skills required being successful travel and tourismentrepreneur............................................................................................................................1(B). Produce a self appraisal plan to demonstrate personal skills and traits or to identifypersonal strengths and weaknesses........................................................................................2TASK 2............................................................................................................................................4(A). Select a successful travel and tourism entrepreneur and analyse his or her businessdevelopment strategy and the entrepreneurial process...........................................................4(B). Evaluate the success of entrepreneur's business organization.........................................5TASK 3............................................................................................................................................6(A). Evaluate and discuss the sources of finance and support available for the proposedproject.....................................................................................................................................6(B). Develop a Business plan with all market assessment and also analyse the cash flowanalysis to justify the potential success of the proposed travel and tourism..........................7(C). Present Persuasive business plan for the travel and tourism start-up..............................9CONCLUSION.............................................................................................................................10REFERENCES.............................................................................................................................11
INTRODUCTIONTravel and tourism industry is the most growing and fast process working sector thatenhances this more enlarging profit making industry by satisfying needs of customers. Traveland tourism is the major source of income for most states in the United States as well as in othercountries. This sector provides huge different types of job profiles in order to develop economicgrowth of country. This also provides countless number of jobs to entrepreneurs all over theglobe. Furthermore, this present report will also discussing about the new trends and newbusiness plan for the travel and tourism business.For taking this study further Thomas Cook company will be taking into action. Further, itwill analyze different potential trends and needs of tour and travelers. Likewise, it will bediscussing about different types of skills and traits of a successful entrepreneur. On the contrary,report will also cover more potential points that express importance of tourism sector.TASK 1(A) Entrepreneurial Traits and Skills required being successful travel and tourism entrepreneurThe main role of an entrepreneur in travel and tourism sector is to deal with new workingenvironment according to requirements of tourism enterprises or travelers. Main purpose ofcompany is to accomplish overall target market goals and satisfy customer satisfaction and needsthat can be fulfilled by the help of good entrepreneurial skills or traits (Belhassen and Bowler,2017). Overall, the best entrepreneur always takes all things positively that affect businessgrowth and effective process.. There are provides some essential skills of a successful businessentrepreneur.Passion:it is the most required skill in a person who handles an organization andmeasures profit. Apart from that, it also helps to take better objective goals. Passionateentrepreneur makes more profit within an organization. They also help to enhance happinesswithin all employees in organization (Bredvold and Skålén, 2016).Self confidence:it is another skill that helps entrepreneur to take the best approachabledecision making approach in order to meet needs of customers. Self confidence is the mostWork ethics:it is the most necessary skill that motivates person with values and moralethics in relation with the work process. It will also help to take more reliable decision to achieveoverall target goals. Work ethics help to generate more social values and image in the market.1
Innovation:It is the another process of dealing and long lasting performance that makesthe process of dealing and give creative working environment.Excellent communication skill: In travel and tourism sector, communication skills arethe most necessary skill to connect and maintain better connectivity with employees anddifferent stakeholders.Strong determination: Defects and failures are a part and parcel of a business. This isthe most enlarging effective performance making task. Making task and long lasting process.This brings new better effective and growth that helps. A good entrepreneur must be strong,determined in order to motivate it (Çakmak, Lie and McCabe, 2018). This skill helps to face upsand downs of market to meet needs of organizational goals. Time management is also requiredto make an effective working and task oriented process. Through company will take betterobjective and growth. It is another skill of an individual entrepreneur that must be according toneeds and wants.(B). Produce a self appraisal plan to demonstrate personal skills and traits or to identify personalstrengths and weaknessesSkill or traitsEvidenceRating scale out of 10DisciplinedI followed the structured planevery day to maintain mydisciplines followed byplanned structured will helpme to take better decsionmaking approach.8Self-confidenceI believe in present thingsaccordingly, good approachand successful business growthwill make new growth orientedwork and process (Camilleri,2018).7Competitive spirit andPassionIn terms of heavy competitionin the tourism market still my82
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