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Travel and tourism entrepreneurship in business development

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Added on  2020-06-03

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TRAVEL AND TOURISM ENTERPRENEUR INTRODUCTION 1 TASK 11 a) Skills and traits needed to be successful travelandtourism entrepreneur 1 b) Producing a self appraisal of entrepreneurial traits and skills with identifying the strength, weakness for development benchmark 3 TASK 24 a) Analysing the development strategy of an entrepreneurial enterprises4 b) Factors needed to lead an enterprise successfully 4 TASK 35 3.1 Evaluation of sources of finance and support available to enterprise 5 3.2 The potential for success of a concept

Travel and tourism entrepreneurship in business development

   Added on 2020-06-03

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TRAVEL ANDTOURISMENTERPRENEUR
Travel and tourism entrepreneurship in business development_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1.......................................................................................................................................1a) Skills and traits needed to be successful travel and tourism entrepreneurship......................1b) Producing a self appraisal of entrepreneurial traits and skills with identifying the strength,weakness for development benchmark ......................................................................................3TASK 2.......................................................................................................................................4a) Analysing the development strategy of an entrepreneurial enterprises..................................4b) Factors needed to lead an enterprise successfully..................................................................4TASK 3.......................................................................................................................................53.1 Evaluation of sources of finance and support available to enterprise...................................53.2 The potential for success of a concept in an enterprise ........................................................63.3 Discuss a persuasive business start-up plan..........................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
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INTRODUCTIONEntrepreneur is a person who starts a new business by taking all risks and benefits of thetask. He is like an innovator who run his business through new ideas, goods, services andprocedures (Buhalis and Darcy, 2011). Thus, the process including creating, launching andrunning a new business by an entrepreneur is known as entrepreneurship. It can be defined ascapacity to launch, develop, organise and manage the whole business by an entrepreneur who istaking all risks. As seen in today's market trend, to start a new business tourism is the best. Thedevelopment of tours and travels companies are based on offers they provide to attract theircustomers. According to World Trade Organisation (WTO), the international tourism will growat a fast rate. This report has focused on the skills and characteristics that are needed of anentrepreneur to run a business like travel and tourism. It has also given a brief account on theway that need to start a new business plan within tourism sector and to develop that enterprise. TASK 1a) Skills and traits needed to be successful travel and tourism entrepreneurshipEntrepreneurship is always considered as a key factor for developing a new business andpromoting its economic development. It concerns mainly on growth and development. Theperson behind this process of entrepreneurship is known as entrepreneur. He introduces capital,finance, land and labour resources required to start a new business. He invents new product andservices by giving employment to many workers. So he has a positive impact on an economy anda society that adds to the gross national income of a country (Choi and Turk, 2011). He alsoseems to invest in so many community projects including charities, trust and other non-profitorganisations. The creation of new opportunities, recognize the market and customer needs,technical and market opportunities are some skills required in the process of entrepreneurship. Intours and travel business, an entrepreneur must have some characteristics like he should bedisciplined, confident, open-minded, self-starter, passionate, competitive and creative. Traveland tourism is a rapidly growing industry which is oriented at less risk compared to otherbusiness firms. With an appropriate skills, plan and the way to target the clients can be a goodsource to generate revenue and can gain throughout the long as well as short term objectives intourism department by an entrepreneur. 1
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