Unit 11 Report: Skills, Analysis, and Business Plan in Tourism

This report examines the travel and tourism entrepreneurship, focusing on the necessary skills for success, including leadership, planning, and communication. It analyzes the development of an enterprise, using Richard Branson's Virgin Atlantic as a case study, evaluating its success factors and exploring sources of finance. The report also includes a self-assessment of a general manager at Hotel Marriott, highlighting strengths and weaknesses with corresponding action plans. Furthermore, it presents a startup business plan, demonstrating practical application of entrepreneurial concepts within the tourism sector. The report provides a comprehensive overview of the essential elements for establishing and managing a successful travel and tourism business, emphasizing the importance of innovation, customer satisfaction, and strategic planning.

Unit 11. Travel and
tourism entrepreneur

TABLE OF CONTENTS
Introduction...................................................................................................................... 3
Task 1 ............................................................................................................................. 3
1.1 Skills for a successful travel and tourism entrepreneur..........................................3
1.2 Self-assessment criteria being as a general manager of hotel Marriott..................6
Task 2 ............................................................................................................................. 7
2.1 Analyzing the development of an enterprise...........................................................7
2.2 Evaluating the success factors of Virgin Atlantic....................................................9
Task 3............................................................................................................................ 11
3.1 Sources of finance to Virgin airline.......................................................................11
3.2 Justification of the success concept.....................................................................13
3.3 Presenting the startup business plan....................................................................15
CONCLUSION............................................................................................................... 16
References..................................................................................................................... 17

INTRODUCTION
Travel and tourism sector is one of the most leading sector in this contemporary
world. Tourism industry involves very low risk, and provides high revenue generating
sources from some countries like Malaysia, Thailand, America and Australia. It is one of
the most feasible business for investors because profit margin in travel and tourism
industry is generally high. Travel and tourism business is not only depending on
investment and revenue, it basically related to entrepreneur interest and creativity
(Padurean, Nica, and Nistoreanu, 2015). For being a successful entrepreneur they must
possess certain qualities like knowledge, leadership and management skills and
awareness about the new technology and information. The present report is based on
Travel and tourism entrepreneur and to understand this, Hotel Marriott case study is
taken in to consideration. The main aim of this report is to understand about the
required skills and characteristics for a successful entrepreneur in order to develop skills
for preparing startup business plan.
TASK 1
1.1 Skills for a successful travel and tourism entrepreneur
Following skills are to be required for becoming a successful entrepreneur.
Through this entrepreneur can effectively manage all the activities within an
organization. Following skills and characteristics are mentioned below:
Leadership- As an entrepreneur, they must have an ability to take decisions
independently. They also have influencing power to motivate and encourage their group
members towards the common goal.
Clarity in start business plan- Entrepreneur should have clear cut idea about the new
business plan. They must know in advance about the start business goal and objective
that helps in to draw proper business plan to meet effective organization goal (ShaoYin,
and HongGang, 2016).

Marketing and planning- Proper planning provides the direction towards the effective
accomplishment of organizational goal. Entrepreneur must have an ability to evaluate
internal and external business environmental factors, through this entrepreneur are able
to take effective decision towards the effective accomplishment of desired task along-
with earn maximum profit.
Planning- It is an essential part for smooth running of business organizational functions.
Entrepreneur must think about all factors like social, environmental and technical not
only think about the economical factors.
Work for the society- Successful entrepreneur does not think only about the profit
motive they should be consider about the customer satisfaction and their priority. They
should take decisions under consideration welfare of society.
Maintain good communication- Good relations with customers and employees
always leads the enterprise towards the sustainable competitive advantage. A healthy
relationship always flourish the workplace environment. The entrepreneur must have
the ability of establishing better communication with customers. The tour operator must
be able to maintain a good communication level with all its staff as well as with the
customers or agents who support in business activities. This will also be helpful in
meeting the legal requirements from local to international level. Apart from this, it will be
an additional advantage for the tour operator, if he/she knows the multiple languages.
They will be able to deal with customer's in their own language so that they can
understand entire detail about tour and travel. The tour operator can also motivate their
staff to learn foreign languages so the trust level of customers can be increased.
Goal oriented- Every organization set some short term and long term goal
towards the accomplishment of organization objective that finally gives the benefit to
organization and society (Solvoll, Alsos, and Bulanova, 2015).
Risk taker and grievance handler- Entrepreneur must have an ability to take risk
for achieving opportunities and reducing threats because both the elements makes
greater impact on the success of an organization. The necessary risks to transform an
idea into an actual business that generates sales and profits is called an 'entrepreneur'.
The tour operator must be enough potential to deal with various challenges and

grievances of customers in effective way. Besides this, he\she is responsible for dealing
and resolving the issues of their staff as well. A proper escalation matrix must be
developed so that problems can be resolved at its earliest stage.
Flexibility- Successful entrepreneur must be flexible in nature. It gives an ability
to entrepreneur to adopt changing environmental factors as an opportunities, and
makes changes in internal organization environment according to external changes
(Scott, Hall, and Gössling, 2016).
Innovative- They must have creative and innovative. It helps in to provide
customized provide according to customer's requirement, because customers taste,
preference and expectations are varying with respect to time.
Passion- Entrepreneurs must be passionate about their dedication of work with
loyalty.
Successful entrepreneurs must have following skills such as time management,
awareness the market trend, target setting, problem solving ability and self-appraisal
skill.
Managing the service factor in travel and tourism is service characteristics like
intangibility, heterogeneity, perish-ability and inseparability of services. Human factors
and issues of managing the service operations.
Confidence: The entrepreneur in the travel and tourism sector must posses the good
confidence level in him. This will help in giving a good presentation among the tourists
and also in achieving the goals with better energy.
Cognitive skills: The cognitive skills refer towards the ability to present reports and also
giving suggestions in solving different issues in management.
1.2 Self-assessment criteria being as a general manager of hotel Marriott
Being as a general manager of Marriott, London. I have huge amount of
responsibility towards the accomplishment of set desired and objective. Self-appraisal
gives information about the strength and weaknesses of self. No one man perfect in this

world so that weaknesses are effectively find out to overcome this and makes certain
improvement in the existing skill set. Being as general manager the main concern is well
being of customers so that it can be possible by maintaining discipline among the
employees. I try to motivate employees by tailoring my approach and try to resolve
conflicts among the employees.
Strength: Weaknesses:
 I have a professional degree on
management of human resources.
 I always try to motivate myself
according to my skill set and i have
also a good knowledge about new
geographical places and be more
curious about to know more.
 I believe in to maintain good
relationship with customers and
employees, it leads the enterprise
towards the sustainable competitive
advantage (Williams,and Baláž,
2015).
 I have an ability to create new ideas
and thoughts it helps in to provide
something new to customers that
maintains the retention level of
customers for a longer time period.
 I does not believe in hierarchical
process of communication for
interacting with people.
 I have an ability to manage
 My management team think that I
take lot of time in decision making.
 My habit is that to make several
assessments before arriving at final
decision.
 I don’t makes decision on the profit
motive purpose.
 I am not capable to bear high risk
alone because i am less confident
to tackle it.
 I am not superior to manage
finance. It is my major weakness.
Every business organization main
motive is to earn profit but i am
oriented towards the customer
satisfaction.

advertisement campaigns.
 I provide full support to my team
members and board of executive.
Strategies:
 I want to join personality development session that helps in to improving good
communication skills and maintaining relations.
 I also want to join the accounting classes from accounting professional that
increases the efficiency to handle financial problems.
 Self-assessment is the major tool for the preparation of leadership skill that helps
in overcome the internal fear.
 Personality development course also helps in to improve my personal
communication skill, interpersonal relations, wideness of thoughts and opinion
etc.
Skills (Strength ) Weakness Action plan
 I always try to
motivate myself
according to my skill
set and i have also a
good knowledge
about new
geographical places
and be more curious
about to know more.
 I have an ability to
create new ideas and
thoughts it helps in to
 My management
team think that I take
lot of time in decision
making.
 I am not capable to
bear high risk alone
because i am less
confident to tackle it.
 I am not superior to
manage finance. It is
my major weakness.
Every business
 I also want to join the
accounting classes
from accounting
professional that
increases the
efficiency to handle
financial problems.
 Personality
development course
also helps in to
improve my personal
communication skill,

provide something
new to customers
that maintains the
retention level of
customers for a
longer time period.
organization main
motive is to earn
profit but i am
oriented towards the
customer
satisfaction.
interpersonal
relations, wideness
of thoughts and
opinion etc.
 Self-assessment is
the major tool for the
preparation of
leadership skill that
helps in overcome
the internal fear.
Skills Level (Marking out of 10) Strategy
Communication skills 5 To join coaching class,
reading books and attend
various communication
improving seminars
Problem resolving ability 6 To attend seminars and
workshops based on
effective management and
grievance handling, to read
business magazines for
attaining knowledge about
dealing with clients and
employees.
Leadership skills 8 To maintain the present
level and put efforts for
gaining more support of
team members so that
improvement can be
brought.
As per the above analysis, the general manager have the scope of improving
communication skills as he is not able to maintain a sound and effective communication
with clients and subordinates. Therefore, with the help of above strategies, he can make
a good improvement to gain impressive success. Besides this, the problem solving
efficiency must be improved as he thinks that managing a large number of workers and

resolving their issues is quite difficult. Thus, with the help of said action plan, this
weakness can be improved to a higher level. Finally, the leadership skills are important
to be maintained at high level as it is the key aspect for achieving success. Hence,
through above stated action plan, manager can move towards continuous improvement.
TASK 2
2.1 Analyzing the development of an enterprise
One of the famous personality in travel and tourism industry is Richard Branson.
He is one of the successful business entrepreneur in tourism industry. He established
his business in UK with the name is Virgin Atlantic. It is a kind of international airline
company.
Skills and characteristics of Richard Branson:
Mr. Branson is creative and very innovative and has an ability to implement his
innovative ideas in business project. He can think outside the box. Mr. Branson shares
his thought and views with his employees that helps in to take fair decision which is
good for business organization (Nikraftar, Nikraftar, Hosseini, and Hosseini, 2016). He
offers various kind of luxury services to customers that attracts the customers towards
the business. Through this he can maintain competitive advantage in market place. It is
also customer retention strategy.
He can manage the coordination between the workforce with the assigned activities. In
this sense, for applying a developmental strategy, the company must adopt several
techniques or approaches which will be helpful in creating a planned process with less
risks. The model of Porter's five force model, SWOT analysis, porter's generic strategy
etc. are some of the methods which can be adopted by an entrepreneur to get positive
results. The business organization of Virgin Atlantics embrace similar approaches and
techniques for better scanning of environment and making plans.
On the other hand their are various development strategy to get develop there business
concern.

Analysis internal factors: As per the Virgin Atlantics company has to be adopted
their development strategies on the basis of to identify internal factors where they
maintain internal policies and management practices where is affect their working
environment. Effectiveness in internal policies and working patterns is made
performance efficiency and maintaining workforce practices. Further, Mr. Branson has
to about this strategy to develop some new innovations and creativity in an internal
policies and working methods which can be measure their working effectiveness and
create more development towards there working cycle.
Determine external force: This is the one of important and essential strategy where
company aid to developing some effectiveness in an organization. In this strategy
company identify their external forces like political environment, economical factors and
some legalization which is affect their organization cycle. So in that case Mr. Branson
build relationship with the external force element to manage their working policies and
working methods.
Competitor analysis: On the other hand Virgin company has to be measure their
market competitors. Where they analysis external marketplace company product and
their applied strategies. Also they analysis competitiveness in current marketplace.
Because these all are the term is create major effect on organization and arise barriers
in their developing organization practices so in that situation Mr. Branson has to focus
on their marketplace competitors and then they had to be develop their own strategies
and working techniques which can be aid to create differentiation from others.
Pricing Strategies: on the other hand said organization has to be adopt their pricing
strategy where they developed their price premium strategies to attract higher class
customers and penetration pricing strategy where attract all class of customers. In
these strategies company has to be attract premium customers and along with that
those customers who are economical afford such facilities and accommodations.

2.2 Evaluating the success factors of Virgin Atlantic
Several factors are taken in to consideration for the success of quoted
organization. Various strategies are to be followed for achieving the success the
success in an organization.
 He continuously expands his business by introducing new service line in hotel
industry under the Virgin group. Virgin airline group promotes their luxury facilities
like sleeping seat to business class passengers, it provides level of comfortableness
to consumers, this policy helps in to attract larger number of customers.
 He regularly generates huge amount of revenue for selling the airline tickets to 1
million passengers. This is only because of their providing discounting facilities to
their concerning products.
 He introduces sleeping seats first time in this world for business class passengers.
He moves forwards without looking backward, it is the success mantra of Virgin
group. It is very effective service which can be aid to attract so many customers.
 Virgin group made joint venture with Malaysia and Singapore airline with respect to
51% and 49% ownership of shares. With the help of this joint venture company has
to be stated there improving productivity and organization image.
TASK 3
3.1 Sources of finance
The new business plan has been made according to which a new resort is planned to be
opened. The plan to open a new business of resort Aqua has been chosen as in the travel and
tourism sector, this proposed project will be much helpful. This resort is providing some
attractive amenities to attract large number of customers including spa, gym, bar and god
accommodations . Various tour operators is been contacted so that they generated various
travelers to their resort which is help to increasing the number of customers.

There are various sources of finance are available for proposed project of
opening a resort where it can raise their funds and use their existing investment in
flourishing functions. Funds are required for making new developments, re framing the
strategies and regenerating the products and services that helps in maintaining the
retention level of customers. Funds can be generated either from internal sources or
through external loan from the bank or any financial institution (Tribe, 2015). It helps in
expansion of business program. New investors can also make investment. Entrepreneur
can arrange the finance the firm from savings and family funds, bank loans, seed capital
or venture capital. Overdraft facilities and short terms loans for business operations also
be the resources of finance.
Internal source of finance:
 Owner's investments
 Retained profits
 Selling of any property
External source of finance
 Debentures
 Term loans
 Bank overdraft
 Venture capital
 Arrangement of fund is a very crucial factor, from whom the fund can be
arranged and identification the sources of fund availability.
 Inviting potential investors to invest their money while getting ensure ability in
order to get maximum return outcome. Financial statements are shown by the
company to investors for making ensure ability about their invested funds.
 Funds are also being used for product development it can be arranging from
outside an organization. That kind of investment helps in expanding the business
of travel and tourism because this industry makes major contribution in the
growth of the economy.
 Business loan are easily available for an organization. Fund for a small-scale
organization can be easily arranged rather than to large scale organization. UK