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. Furthermore, the module focuses on technological innovations and how they can be successfully used by tourism companies.
The subject aims to:
- Equip students with theoretical knowledge about entrepreneurship, innovations and business planning in travel, tourism and hospitality
- Develop an appreciation about technological innovations in tourism
- 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
After completing the subject students should be able to:
- Understand the key aspects of entrepreneurship in tourism context
- Appreciate the role of new technologies in travel, tourism and hospitality
- Identify the costs and benefits associated with the adoption of technological innovations in a 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 role of technology in successful company operations
Objectives of the program
The main objective of the program is to provide students with knowledge on the role and characteristics of entrepreneurship in new technologies and similar industries in modern conditions of operating enterprises. The gained knowledge is aimed primarily on small and medium sized enterprises which have the need for implementing modern technologies and entrepreneurship. Students will gain dominantly creative and practical knowledge.
After completing this program the students will be able to understand the importance of innovation and creativity in entrepreneurship, especially in using new technologies. They will gain knowledge about the different operations of entrepreneurship and the implementation of new technologies in the different phases and aspects of the process. Students will also comprehend the implications on various levels that can arise and will be able to identify the risks and how to overcome them in order to be successful. In this regard they will also learn how to determine the best outcomes of problem solving that arise from implementing new technology, more specifically through situational and SWOT - analysis and finding the best solutions. Legal ramifications are an important part of the gained knowledge that may arise and must be taken into account/An important part of the gained knowledge is the legal ramifications that may arise and that have to be taken into account. Additionally, to the theoretical knowledge, students will be in continuous contact with representatives of the business community who will share with students’ best practices and examples from their personal experience regarding new technologies.