Travel and Tourism Entrepreneur : Assignment
Added on 2020-11-12
14 Pages4006 Words408 Views
Travel and TourismEntrepreneur
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1A) Presenting the entrepreneurial trait and skills for successful travel and tourism entrepreneur.....................................................................................................................................................1B) Presenting a self- appraisal of entrepreneurial traits to identify the strength and weaknesses.....................................................................................................................................................2TASK 2............................................................................................................................................3A) Describing successful entrepreneur's strategy and evaluating factors that led to a success .3TASK 3............................................................................................................................................5A) Presenting the source of finance............................................................................................5B) Developing a business plan with market assessment.............................................................5C) Presenting a persuasive business plan for travel and tourism start-up project.......................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONTravel and tourism sector contribute the biggest part for the growth of a economy. Thereport main aim is to present the strategy of a successful entrepreneur in a travel and tourismsector. The study is based upon different case scenario and describe the skills which are neededto become a successful entrepreneur and also identifies strength as well as weaknesses fordevelopment benchmarked for a successful entrepreneur. Report further describe thedevelopment of an entrepreneurial enterprise and also evaluate some factors that help to achievesuccess. Moreover, it present sources of finance and develop business plan for an enterprise andalso describe the persuasive business start- up plan for the company. TASK 1A) Presenting the entrepreneurial trait and skills for successful travel and tourism entrepreneurTo start a new business, establish and developing it in a travel and tourism industry isknown as entrepreneurship in travel and tourism industry. There are many skills which areneeded for becoming a successful travel and tourism entrepreneur and this are mentioned below:Interpersonal skills: Having an interpersonal skills is quite important to have inentrepreneur. This skills includes communication skills, build relationship with customersas well as team members. Entrepreneur in a travel and tourism industry should motivatethe employees so that they will attain all defined goals. Having such type of skills willhelp to guide the team and employees for the growth of a business (Prebensen, Chen andUysal, 2018). Discipline: it is the most important skill which an entrepreneur must posses. Disciplineinvolves focus that further help to solve the problem and setting up a new business inorder to achieve the goals of a company. Passion: Passion consider one of the most significant skill which help entrepreneurs towork very hard with a dedication in order to achieve the business target. If a person has apassion regarding his own work then it will help to do work with more efficient way.Leadership Skill: This is another skills which are required to have in an entrepreneurand this includes, decision making, solve disputes, motivate their team mates and identifya problem (Porter, Orams and Lück, 2018). Moreover, a person should have an openmind and have creativity in his own work that help to complete the work early.1
Confidence: To make a business successful, it is quite important for an entrepreneur tohave a good level of confidence so that it will further help to raise the efficiency level ofan employee. Knowledge: If an entrepreneur is related to travel and tourism sector then it is importantto have a good knowledge regarding their sector. Moreover, if an entrepreneur haveknowledge as well as confidence then it will double the efficiency of a business andattain all defined goals at early. Competitive skill: An entrepreneur must have the competitive skills because this skillshelp a person to set up a business in those region where there is a tough competition.Hence, it is quite necessary to have such skills in an entrepreneur.Creativity and open minded: It is another important skill which an entrepreneur shouldposses such that entrepreneur should be innovative and creative in order to adopt strategythat help to make a business more competitive in a market (Rataj and Eriksson, 2018).Having an open minded approach will further help to generate new ideas in order toimprove the efficiency of a business. B) Presenting a self- appraisal of entrepreneurial traits to identify the strength and weaknessesThere are so many skills and qualities which an entrepreneur posses and on the other side,self- appraisal refers to determine the strength as well as weaknesses and I have some skillswhich is consider as a strength as well as weaknesses.Strength:Creativity and open minded: New ideas, thoughts and creativity towards my work helpme to grow the business towards a success level. As I posses this quality that is actually requiredto attract wide range of customers towards a product and having such trait help me to become asuccessful leader or entrepreneur in travel and tourism industry.Interpersonal skills: I also have good communication skills as well as maintain goodrelation with customers as well as team mates and this quality in travel and tourism industry isquite important because the entire process is based upon contacts. Having a social interaction andmaintaining good relation with others help to become a successful entrepreneur.Motivation: It is consider as a strength for me because this skills is actually helpful tomotivate many people to achieve all defined goals of a company. For example, as I am workingin a travel and tourism sector and have a good knowledge related to work and always curious to2
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