The subject introduces students to the challenges of starting a new business venture in a travel, tourism and hospitality setting. The subject programme covers various theoretical and practical aspects of entrepreneurship and innovations management that will help students gain skills to develop a feasible business plan in travel, tourism and hospitality.
The subject aims to:
- Equip students with theoretical knowledge about entrepreneurship, innovations and business planning in travel, tourism and hospitality
- Develop skills for applying the theoretical knowledge into tourism business practice
- Develop managerial, decision-making, creative thinking, planning and organisational skills
- Provide students with skills for effective and efficient business planning in tourism
- Raise awareness about the social and ethical issues of entrepreneurship in tourism
After completing the subject students should be able to:
- Understand the key aspects of entrepreneurship in tourism context
- Critically evaluate the role of innovations in the entrepreneurial process in tourism
- Identify the key elements and steps in developing a business plan
- Develop and justify a business plan
- Formulate a competitive business strategy
- Create an innovative marketing mix to attract customers
- Know how to finance the business venture
- Evaluate the feasibility of the business idea
- Identify and manage risks in the business process
- Evaluate the social and ethical issues in entrepreneurship in tourism
Objectives of the program
The main objective of the program is to provide students with knowledge on the use of entrepreneurship in small and medium sized enterprises who operate in different fields of the tourism industry. With the completion of this program students should be able to understand the complexity of doing business in tourism as a dominantly people – oriented sector. This should help them in establishing a tourism business with all its characteristics, taken into account the latest trends in the industry.
This program will allow students to gain knowledge about the fundamental characteristics of entrepreneurship and its place and role in tourism. That is why student will acquire specialized knowledge in several fields regarding entrepreneurship and tourism. These fields are divided into topics (topics) which are logically connected. Students will be able to determine the main tourism trends that they have to know before creating a new tourism enterprise/business. Furthermore, in the program there will be provided detailed information about the specifics of entrepreneurship in service sector, setting up and operating facilities in tourism destinations, valorization of diverse tourism resources needed for providing high quality products and services, alternative types of tourism activities and their sustainability, the importance of marketing and promotion in tourism. Also provided will be some techniques and methods for determining the internal and external circumstances of the operating business, such as situational analysis and SWOT analysis. Accordingly, to the provided theoretical information and knowledge students will be also given practical advices through presentation of best practices in the country and abroad, as well as lecturing by members of the tourism business community.