Small businesses are the backbone of the tourism and hospitality industry and, depending on which statistics one uses, represent somewhere between 75 to 95 percent of all firms globally in this sector. The number of entrepreneurs has dramatically and uniformly increased globally over the last ten years. Divided into four sections, "Entrepreneurship and Small Business Management in the Hospitality Industry" takes an intuitive step-by-step progression through each stage of the entrepreneurial process: context, theoretical perspectives and definitions; concept to reality; the business plan; and growth and the future. Ideal for students at any level, the chapters of this book invite you to ponder upon your reading through a series of 'reflective practice' activities. These, along with case studies, clearly defined chapter objectives, reflections, role-play activities and experiential exercises, allow you to both think actively about themes, concepts and issues and then apply them to a number of suggested scenarios.
This is a perfect preparation for the up-and-coming entrepreneur! The book explores both entrepreneurial theory and practice applied to the tourism and hospitality industry, by investigating some key theoretical concepts and grounding them in practical real life scenarios; moves back and forth between strategy and operations to illustrate the link between the two areas and explain how both perspectives are necessary for entrepreneurial success; creates an enthusiasm about the field by not only discussing some of the major challenges and opportunities but by providing the knowledge and skills required to start a small business and drastically improve the chances of sustaining it successfully.
Chapter 1 Context, Theoretical Perspectives and Definitions
Chapter 2 Indigenous and Ethnic Entrepreneurship: A Cultural Perspective
Chapter 3 Entrepreneurs and Small Firm Ownership
Chapter 4 Creativity and the Entrepreneurship
Chapter 5 Innovation, Opportunity and Protection
Chapter 6 The Feasibility Analysis
Chapter 7 The Family Business: Who's to Bless and Who's to Blame?
Chapter 8 Hospitality, Commercial Homes and Entrepreneurship
Chapter 9 Preparing a Business Plan
Chapter 10 Leadership and the Entrepreneur: "I'm Right Behind You Leading the Way"
Chapter 11 Growth: the Harder I Work the Luckier I Get