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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............................................................................................................................................1Traits and skills of an entrepreneur..............................................................................................1Strength and weakness to become successful entrepreneur.........................................................2TASK 2............................................................................................................................................4Development strategy that is being used by an entrepreneur......................................................4TASK 3............................................................................................................................................5Sources of finance........................................................................................................................5Business plan ..............................................................................................................................5Persuasive Business Plan.............................................................................................................6CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11

INTRODUCTIONEntrepreneur refers to the person who sets business for the purpose of earning profit bytaking risk and uncertainties that is based on future course of action. It is broader term that isused to describe an ability of an individual to earn something in life. An entrepreneur islaunching new business with new ideas and creativity by investing money. It finds newopportunities for diversifying in different sectors of the economy (Kirzner, 2015).They act as amanager in the company who is able to initiative of taking risk for future. Entrepreneurshipbrings new opportunities and generate new creativity that will help in achieving goal of thebusiness. This include business plan that is being set by an entrepreneur and the resources that isused for hiring people for the company. Present study will be based on Charcoal Travel Agent company. It is dealing as touroperator and travel agent in United Kingdom.Present report will include entrepreneurial traits and skills to become a successful traveland tourism entrepreneur. It also includes an entrepreneur and its development strategy forsuccess in the future. Furthermore, it will include business plan and different sources of financethat is used to proposed project.TASK 1Traits and skills of an entrepreneurEntrepreneurial traits are the characteristics that must be possessed by an individual tobecome a successful entrepreneur in the future. Skills refers to the ability to manage things in thecompany and become productive for getting success.Entrepreneurial TraitsPassion:- An entrepreneur must be passionate to do work effectively and efficiently forachieving success in the future course of action. They have to love what they are doing and haveability to complete that task (Dees, 2017). They have to manage work for the future course ofaction. For becoming successful travel and tourism entrepreneur one must be passionate tocomplete his work on given period of time.Work Ethic:- An entrepreneur must have strong work ethic and have to work according to thecompany's rules and regulations. They have to follow all the policies and procedures to meet theexpectations in the business. A successful entrepreneur is always has to set their mind to do work1

anytime. Tourism entrepreneur must have to be follow all the ethics so that it will help inachieving success for the future.Determination:- An entrepreneur must be determinant to its work. If it gets failed then it is anopportunity for it to do something new that will help in achieving success for future course ofaction. They do not have to believe that this cannot be done always have determinant thateverything is possible. This trait helps in achieving success for the future course of action.Competitive:- For becoming successful an entrepreneur must have trait to survive in thecompetitive market (Zahra, and George, 2017).It is very important to be competitive ascompanies are increasing day by day and that will lead to increase competition in the market. Itis a trait that helps an entrepreneur to achieve success in the future.Entrepreneurial Skills Decision making:- An entrepreneur must have decision making skills to achieve success in thefuture. This skill is very important that every entrepreneur have to be built in it so that it will leadto growth for business in the future. To become successful entrepreneur there decision makingskill is necessary.Ability to learn:- Travel and tourism entrepreneur have ability to learn more and more in futurefor achieving success. Learning help in gaining more knowledge that will be benefited for thefuture course of action. Learning always helps in gaining extra every time that will be beneficialfor business and for itself as well.Identify strength and weakness:- It must be able to identify strength and weakness that willhelp in improving productivity in the business. Strength will help in improving more qualitiesthat is being needed to become successful (Eniola, 2018). Weakness helps in overcoming fromthat and improve skills for achieving success. Strength will help in gaining more success andability to work.Therefore, above traits and skills is necessary for becoming successful travel and tourismentrepreneur.Strength and weakness to become successful entrepreneurEntrepreneurial traitsConfidence:- I am confident in starting every task and always able to take opportunities that willhelp me in my growth as a travel and tourism entrepreneur. This confidence helps me in getting2

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