Travel and Tourism Entrepreneurs Study
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Added on 2019-12-28
Travel and Tourism Entrepreneurs Study
Added on 2019-12-28
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TRAVEL AND TOURISMENTERPRENEURS
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................31.1 Discuss skills needed for successful entrepreneurship..........................................................31.2 Produce a self appraisal that identifies strength ad weakness and strategies to fordevelopment benchmarked to successful entrepreneur...............................................................4TASK 2............................................................................................................................................62.1 Analyse the development of entrepreneurial enterprise........................................................62.2 Factors to the success of an enterprise..................................................................................6TASK 3............................................................................................................................................83.1 Evaluate sources of finance and support available to enterprises in the travel and tourism.83.2 Develop and justify the potential for success of a concept for an enterprise in a travel andtourism context............................................................................................................................93.3 Present a persuasive business start-up plan.........................................................................10CONCLUSION .............................................................................................................................10..........................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTION Travel and tourism is regarded as one of the best overgrowing businesses in the present-day world scenario . The flared requirement of touristy has made this business risk free andachievable because travel and tourism has the demanding business opportunity . It is the basicrequirement of foreigners . The ever increasing requirement of touristy has made this businesslow risk and achievable the reason is because people from all over the world travel and set uptours. From touristy high income source can be generated. Its a vast growing business and has adiverse range of opportunities in future for the generation of better income sources. Tourism isalso associated with employment opportunities for those who want to start their carrier withtouristy.TASK 11.1 Discuss skills needed for successful entrepreneurshipAccording to touristy skills are the qualities which should be exist in a goodbusinessperson. There are different types of skills some of them are knowledge, leadership andmanagement skills , awareness to innovative technology, complete information about the touristypackages and a competitive strategy to know what's going on in the market. Touristy is all aboutexperiencing, amusement and creativity rather than investment for the traveller. The experienceand satisfaction are their investment. But for the traveller and tourism contactor it is the best andgreat source of income generation by engaging many travellers in order to make development inthe sector as well( Moore, 2013). A good entrepreneur is always take care of demands of the customer by providing besttravelling packages and complete accommodation facilities including some extra offersaccording to the touristy. Successful entrepreneur should know about different marketingconcepts in order to make clients by winning their hearts and by leaving an impression towardsthem by attracting. An entrepreneur should know some business tactics in order to commandover the profession and this results in developing more opportunities and achievement of targets.There are some skills which a successful entrepreneur in order to compete the business world:-Resiliency – Its a situation of a business entrepreneur in order to manage ups and downs in thebusiness. This situation is a very elastic situation of the business entrepreneur . In this situation
an entrepreneur never become hope less in difficult times of business. This situation allows ormotivate the entrepreneur for more opportunities and future diversions.Focus – the entrepreneur should very focused in order to achieve goals and the businessmenshould be pathfinder . By setting up visions, mission and goals the entrepreneur is closer to thegoal.Find and manage people – Only by learning to leverage employees , vendors and otherresources entrepreneurs will not able to build a scalable company . Their requirement is to learnthe network to interact with the right people.Sell – All the entrepreneur are sales person, they have no choice whether they want to be or not.Their concept is the idea of selling their product or services to the customers, employees andinvestors. They know the customer psychology in order to selling the products and services theyknow how to let them go or ready to buy a product. This the basic tactics of the entrepreneur inorder to run a business.Learn – Successful entrepreneurs not believing in expertism instead of they do believe inlearning process in order develop their constant skills and capabilities in an organized procedure.They stay updated to the system for advance knowledge of existing and future market.Self reflection – they visualize the hard time and reflect on past and accordingly make futureplans. They have a serious thought about one's character and actions working out physically andemotionally.Self reliance – entrepreneur should be very self independent as they have lot of help providersbut they need to be self dependence.These are the above skills and competencies needed for an successful entrepreneur anddevelopment of the business.1.2 Produce a self appraisal that identifies strength ad weakness and strategies to fordevelopment benchmarked to successful entrepreneurAccording to the strategies for the development of successful entrepreneur . Strategy isthe primary construction of the competitive disintegration and vantage. Strategy aims at buildinga competitive advantage. The entrepreneurial enterprises faced many challenges for the survivalsuccess. Basically they focused on particular challenges. The strategical activities includesmarket and industry analysis, product or service design and development , operation andtechnology management , customer development and many more services.
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