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Welcome!
Dr. Nimit Chowdhary
Professor
Indian Institute of Tourism and Travel
Management, Gwalior 474011 India
nimitchow...
2
Dr. Nimit Chowdhary, Professor 4
Monday, September 22,
2008
Tourism Entrepreneurship
Learning objectives
How to scout fo...
3
Dr. Nimit Chowdhary, Professor 7
Monday, September 22,
2008
Tourism Entrepreneurship
Materials
Material provided on inst...
4
Dr. Nimit Chowdhary, Professor 10
Monday, September 22,
2008
Tourism Entrepreneurship
Assessment
100(40)Total
25(10)Pres...
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Tourism Entrepreneurship

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  1. 1. 1 Welcome! Dr. Nimit Chowdhary Professor Indian Institute of Tourism and Travel Management, Gwalior 474011 India nimitchowdhary@hotmail.com Dr. Nimit Chowdhary, Professor 2 Monday, September 22, 2008 Tourism Entrepreneurship Those societies achieve… …whose youth take upon themselves to contribute by offering creative solutions to challenges that societies’ face Dr. Nimit Chowdhary, Professor 3 Monday, September 22, 2008 Tourism Entrepreneurship Approach This is not an ‘about’ course on entrepreneurship. Rather it is a ‘how’ course on entrepreneurship.
  2. 2. 2 Dr. Nimit Chowdhary, Professor 4 Monday, September 22, 2008 Tourism Entrepreneurship Learning objectives How to scout for a good business idea? How to analyse the business environment specially customers and competitors? How to manage small tourism business functions? How to analyse feasibility? How to prepare a Business Plan? How to start a tourism business? Dr. Nimit Chowdhary, Professor 5 Monday, September 22, 2008 Tourism Entrepreneurship Scope Setting up a tourism enterprise- steps, procedures, licenses, registration etc. Unit 5 Feasibility; Writing a business plan- marketing, financial, operations, people, etc. planning; Unit 4 Form of organisation and legal considerations; networking and collaboration; good business practices; Unit 3 Tourism marketing mix; tourism marketing planning; financial planning; planning for people and operations. Unit 2 Tourism industry and business ideas; business strategy- understanding customers and analyzing competition; Unit 1 Dr. Nimit Chowdhary, Professor 6 Monday, September 22, 2008 Tourism Entrepreneurship Panel discussion on small tourism entrepreneurship Networking and collaboration Good business practices Setting up a tourism enterprise Business plan presentations and discussion 6 Business plan presentations and discussion Business plan presentations and discussion Business plan presentations and discussion Business plan presentations and discussion 5 Business plan presentations and discussion Business plan presentations and discussion Business plan presentations and discussion Business plan presentations and discussion 4 One month break (at least) Writing a business plan…contd. Feasibility and writing a business plan Brief presentation on business ideas Brief presentation on business ideas 3 Form of organisation and legal consideration Managing People and operations Managing finance 2Managing finance 12 Tourism marketing planTourism marketing mixBusiness strategy, Understanding customers and analyzing competition Introduction, tourism industry and tourism business ideas 1 3.05-4.301.30- 2.5511.05-12.309.30- 10.55 Session 4Session 3Session 2Session 1Day
  3. 3. 3 Dr. Nimit Chowdhary, Professor 7 Monday, September 22, 2008 Tourism Entrepreneurship Materials Material provided on instructor CD. This includes sample business plans, video clip, and Business Plan templates. IGNOU MTM-8 (2005, Reprint). Managing Entrepreneurship and Small Business in Tourism. Mohanty, Sangram Keshari (2005). Fundamentals of entrepreneurship, New Delhi: Prentice Hall of India. Sido-online. Portal of MSME, Government of India (www.smallindustryindia.com) Scarborough, N.M. and Zimmerer, T.W. (1996), Effective Small Business Management, 5/e, New York: Prentice Hall, Inc. Dr. Nimit Chowdhary, Professor 8 Monday, September 22, 2008 Tourism Entrepreneurship Pre course assignment Outcome: A sellable business plan Do adequate field and internet based research to narrow down on potential business ideas. Do pre feasibility To be discussed during Session 1 and 2 on day 3. This has around 15% of the weightage in evaluation. Dr. Nimit Chowdhary, Professor 9 Monday, September 22, 2008 Tourism Entrepreneurship Assessment 10(04)Briefly enumerate in ten to fifteen steps how would you establish the business? 2. 15(06)How unique and attractive is your business idea? • Is it a creative new idea? • Who will be the customers? Where will they come from? How will they differentiate your offers from those of competitors? • How do you intend to return sustainable competitive advantage? 1.
  4. 4. 4 Dr. Nimit Chowdhary, Professor 10 Monday, September 22, 2008 Tourism Entrepreneurship Assessment 100(40)Total 25(10)Presentation and defense6. 25(10)Business plan5. 15(06)How will your business actually operationlise? Describe the business model. 4. 10(04)What are the important legal obligations? • Form of organisation • Licenses required • Any other (permissions, NoCs, approvals, clearances) might consult existing businesses. 3. Dr. Nimit Chowdhary, Professor 11 Monday, September 22, 2008 Tourism Entrepreneurship I’ll also need Dairies of meeting with customers/ competitors, filled questionnaires etc. List of major competitors with address and phone numbers List of major customers with addresses (if applicable) List of equipments required with prices and addresses of suppliers. Strat up cost schedule Letters/ correspondence/ recommendations Risk management plan/ alternative plan Demand schedule → capacity to be created. Dr. Nimit Chowdhary, Professor 12 Monday, September 22, 2008 Tourism Entrepreneurship So! Are we ready?

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