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Discuss how an aspiring entrepreneur can identify and evaluate business opportunities and discuss potential business opportunities both nationally and internationally.

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Write a report analysing the key factors that foster entrepreneurship, creativity and innovation in small to medium enterprises. Discuss how an aspiring entrepreneur can identify and evaluate business opportunities and discuss potential business opportunities both nationally and internationally. Key topic areas:  Defining entrepreneurship, including entrepreneur types.  Defining creativity and innovation.  Discussing how to foster creativity and innovation.  Recognising and researching business opportunities.  Feasibility studies.  Trends: the future of hospitality, tourism & ...

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Question Preview:

Write a report analysing the key factors that foster entrepreneurship, creativity and innovation in small to medium enterprises. Discuss how an aspiring entrepreneur can identify and evaluate business opportunities and discuss potential business opportunities both nationally and internationally. Key topic areas:  Defining entrepreneurship, including entrepreneur types.  Defining creativity and innovation.  Discussing how to foster creativity and innovation.  Recognising and researching business opportunities.  Feasibility studies.  Trends: the future of hospitality, tourism & travel (or a industry of your choice). Report format Fully typed in 11 or 12 font, 1.5 line spacing and margins fully justified.  Cover page – student name, i.d. number, due date, assignment title, lecturer name.  Executive summary – keep to a few paragraphs  Report Body – use a numbered heading system as proposed by the template  Potential business opportunities: nationally and internationally. Faculty of Hospitality, Tourism & Personal Services Higher Education  Critical analysis  Reference list o See the Referencing Guidelines on the Library tab. o List any books or journals, links and resources cited in text. Use the Harvard Referencing system. Be sure to check your work carefully for spelling and grammatical errors or any missing references. Reading the finished paper out loud is a good way to find this kind of error. o Correct referencing is important in order to avoiding plagiarism. In addition to the extensive referencing guide on the library portal, there is a summary on Moodle, in the assessment area. You MUST follow the requirements that are set out by the NMIT.  Appendices Good writing requires planning and revision and you may need to review several times before your paper is complete.

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The term entrepreneur is wide as owning of scuba diving lodge to a small café, putting up of fishing gears for sales to running a small trading business makes an entrepreneurship business. The term “entrepreneurship” is defined as “the activity of an economic agent whose function is to introduce innovative changes into the means and relations of production inherent in an economy.” The activity starts with an idea and streamlining the existing methodology persisting within the economy through the measures of technology, or innovating new ideas and technologies and bringing them into practice. The entrepreneur business is a one man show and management of resources and identification of talent within the industry and putting everything together to run a business.

There are as many as entrepreneurs in the common parlance of trade. The major four types of entrepreneurs existing in common market place are

  1. Small businesses
  2. Scalable startups
  3. Large companies
  4. Social entrepreneurs

Although the varied entrepreneurs have different objectives and means to run their business, what unites them is the common objective of running their business into profitable zone and converting their business into a huge success. The skills of perseverance, rigorous labor and patience are what keep these entrepreneurs going ahead.

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