Entrepreneurial Opportunities in Tourism (Grade 11 NSC Matric Tourism): Flashcards

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Entrepreneurial Opportunities in Tourism
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Entrepreneur

Someone who turns idea into successful business venture

3 tourism entrepreneur qualities

Creative, Business-minded, Honest

Recognising opportunities

Spotting gaps in the market

Risk acceptance in business

Understanding & accepting financial risks & responsibility

Niche market

Specific segment of customers with particular needs

3 entrepreneur skill categories

Basic skills, Thinking skills, People skills

Visualisation skill

Picturing how ideas will work in practice

Independence benefit of own business

Become your own boss, make decisions, control operations

Why tourism is people business

Interact with customers, suppliers, employees, community

Business plan

Document outlining how business will operate & succeed

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