Assignment Context and Business Scenario
Task 1 of this assignment is about your travel & tourism entrepreneurial skills; related to your skills and potential to be an entrepreneur in the travel and tourism sector. It is about self-assessing yourself that requires you to critically examine your strengths and weaknesses as well as your opportunities and threats as an entrepreneur.
1.1 discuss skills needed for successful entrepreneurship
1.2 produce a self-appraisal that identifies strengths and weaknesses and strategies for development benchmarked to successful entrepreneur
Take a few minutes of your time and ponder whether you can be an entrepreneur and jot down certain points why you think you are or you could become a travel and tourism entrepreneur. Also, consider what skills you would need to be a successful entrepreneur.
Task 2 is about entrepreneurial development and how one can start an enterprise and grow with the time to be successful, perhaps making into a large successful organisation. An entrepreneur needs certain managerial and professional skills along with certain personal skills in order respond to change and sustain the business.
2.1 analyse the development of an entrepreneurial enterprise
2.2 evaluate factors that have led to the success of an enterprise
Identify and choose a few successful entrepreneurs and their businesses and analyse their methods of developing and managing businesses. You are urged to read biographies of a few entrepreneurs that might interest you.
This task is about planning for starting up a business in the travel and tourism sector. The entrepreneur needs to have certain goals and objectives as well as the understanding of the market potential. Good understanding of the product or services to be offered and the profile of the customer whom you aim to target are also important. Also, you as an entrepreneur need to consider the financial requirement as well as the sources of funds along with the cost of doing business.
3.1 evaluate sources of finance and support available to enterprises in the travel and tourism sector
3.2 develop and justify the potential for success of a concept for an enterprise in a travel and tourism context
3.3 present a persuasive business start-up plan
You as a customer of travel and tourism, consider your needs and wants and identify if you could come up with a new idea or concept to start a business. Now screen your idea by discussing it with your friends and family members if they would like the idea.