UNIT 11 Travel and Tourism Entrepreneurs seeks to help in understanding the skills and characteristics an entrepreneur must possess and how to bring about the development of the enterprises and establishing a startup. This unit also highlights the effects of the entrepreneurs and enterprises on the travel and tourism department in recent times. It also enables to examine the possible characteristics and skills that constitute successful entrepreneurs. The study will also give a chance to analyze various enterprises and assess the reasons that led to the success of these entrepreneurs. It will also give the learners an opportunity to assess and review their own entrepreneurial skills.
On successful completion of this unit a learner will:
1 Understand skills and characteristics of a travel and tourism entrepreneur
2 Understand the development of enterprises in the travel and tourism sector
3 Be able to prepare a business start-up plan for a niche market within a travel and tourism context.
LO1 Understand skills and characteristics of a travel and tourism entrepreneur
In order to understand the reason that led to the success of renowned entrepreneurs, it is very important to understand the characteristics that a successful entrepreneur possesses. A successful entrepreneur must be an opportunist, flexible and self-motivated person. The successful entrepreneur needs to be able to take risks and must be a people’s person, who always values the opinions of fellow employees and works in coordination. Some of the important skills of a successful entrepreneur include an efficient time management capacity, efficient communication skills, problem-solving capacity, market and financial awareness and many more. A personal SWOT analysis can help to assess the entrepreneurial skills of the learners.
LO2Understand the development of enterprises in the travel and tourism sector
In order to bring about the development of an enterprise, it is important to recognize its competitors and the strategies they are applying to thrive in the market. It is important to understand the opportunities that the market is providing. The Enterprises must also explore new technologies to bring about the improvement in the workflow. Focus should be made on the theory of Porter’s five forces, which includes competition, potential, supplier power, customer power and possible threats. The area of study of the venture capital, banks, buy-outs must also be considered.
LO3 be able to prepare a business start-up plan for a niche market within a travel and tourism context
In order to establish a business start-up plan, it is extremely important to mention elaborately the size of the business and the type of the enterprise regarding the type of works it will carry out, for example, whether the business is macro, micro, small or medium-sized. Preceding it, the aims and objectives of would be put forth. The features of the services that the enterprise will provide must also be included. Then comes the important step, which is the market analysis. It involves studying the markets and chalking out a practical and efficient marketing strategy. Consultation should be made in order to link the company with the chamber of commerce.
Learning outcomes and assessment criteria
|Learning outcomes On successful completion of this unit a learner will:||Assessment criteria for pass The learner can:|
|LO1 Understand the legal and regulatory framework in the travel and tourism sector||explain the legal and regulatoryframework of the travel and tourismsectordiscuss surface, sea and air transport law in relationto the carriage of passengers within the legal and regulatoryframework|
|LO2 Understand legislation and regulations relating to health, safety and security in the travel and tourism sector||evaluate the impacts of the principles of health, safety andsecuritylegislationonthetravelandtourism sectoranalyse legislation that relates toequality|
|LO3 Understand consumer protection legislation in relation to the travel and tourism sector||explaincontractlegislationinrelationtotraveland tourismcustomersexplain consumer protection legislation in relationto travel and tourism customers|
|LO4 Understand the role of business ethics in the travel and tourism sector||analyse ethical dilemmas faced by the traveland tourismsectoranalysetheCorporateSocialResponsibility(CSR) policy of a specified travel and tourismbusiness|
This unit can be linked successfully with:
- Unit 3: The Developing Manager
- Unit 8: Legislation and Ethics in the Travel and Tourism Sector
- Unit 13: Special Interest Tourism
- Unit 17: Work-based Experience.
This unit maps to the following Management NVQ units:
- A1: Manage your own resources
- A2: Manage your own resources and professional development
- A3: Develop your personal networks
- B1: Develop and implement operational plans for your area of responsibility
- B2: Map the environment in which your organisation operates
- F9: Build your organisation understands of its market and customers.