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New Tourism Ventures: An Entrepreneurial and Managerial Approach [Minkštas viršelis]

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  • Formatas: Paperback / softback, 514 pages, aukštis x plotis: 180x260 mm, weight: 934 g, tables
  • Išleidimo metai: 11-Mar-2008
  • Leidėjas: Juta Legal and Academic Publishers
  • ISBN-10: 0702177261
  • ISBN-13: 9780702177262
Kitos knygos pagal šią temą:
New Tourism Ventures: An Entrepreneurial and Managerial ApproachDidesnis paveikslėlis
  • Formatas: Paperback / softback, 514 pages, aukštis x plotis: 180x260 mm, weight: 934 g, tables
  • Išleidimo metai: 11-Mar-2008
  • Leidėjas: Juta Legal and Academic Publishers
  • ISBN-10: 0702177261
  • ISBN-13: 9780702177262
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9780702177262.html
Raktažodžiai:
An entrepreneurial and managerial approach. Continual increases in wealth and leisure time have given a sharp rise to tourism, which resulted in the rapid development of tourism - related ventures such as hotels, bed and breakfast accommodation, travel agencies, restaurants, theme parks, event companies, resorts, tourist guides and tour operators, to mention a few. "New Tourism Ventures: An Entrepreneurial and Managerial Approach" provides a definitive grounding of how to create and manage such tourism ventures. It takes an entrepreneurial and managerial approach to the subject, underpinning the various concepts associated with entrepreneurship and demonstrating the linkages of the subject with the tourism economy within the context of international best practice and research.
About the Editor xviii
About the Contributors xviii
Foreword xxiv
Foreword xxvi
Preface xxvii
Acknowledgements xxx
PART A
Entrepreneurship and the tourism economy
1(22)
Abstract
2(1)
Chapter objectives
2(1)
Introduction
2(1)
Background
2(1)
Classification of SMEs
3(5)
A quantitative/objective approach
5(1)
A qualitative/subjective approach
5(1)
Class sizes
5(1)
Review of SMEs
6(2)
International perspective on tourism
8(1)
Supply and demand - role of SMTEs in the tourism sector
9(3)
Tourism and entrepreneurship: A discussion
12(6)
Profile of a typical SMTE
18(2)
The role of the hospitality sector
20(2)
Summary
22(1)
Issues to ponder
22(1)
Relevant Internet sites to visit
22(1)
Entrepreneurial environments, processes and types
23(24)
Abstract
24(1)
Chapter objectives
24(1)
Introduction
25(1)
The impact of change on the SMTE-environment relationship
25(1)
The interaction between the SMTE and the environment
26(2)
The micro-environment
27(1)
The market of task environment
27(1)
The macro-environment
27(1)
Environmental scanning
28(1)
Internal environment
28(1)
External environment
29(1)
The SMTE-environment relationship
29(3)
The Economic and legal SMTE environment
29(1)
The technological SMTE environment
30(1)
The competitive SMTE enviornment
30(1)
The social SMTE environment
31(1)
The customer SMTE enviornment (buyers)
31(1)
The supplier environment
31(1)
The global SMTE environment
32(1)
The entrepreneurial process
32(6)
Creativity and business opportunity recognition
33(1)
The window of opportunity to establish an SMTE
33(2)
The business plan
35(1)
Resource requirements
35(1)
Legal aspects
36(1)
Countdown and getting started
36(1)
Financing the SMTE
36(1)
Networking and support
36(1)
Entrepreneurial leadership processes
37(1)
Entrepreneur typologies
38(7)
Characteristics of an entrepreneur
39(2)
Basic behaviour of an entrepreneur
41(1)
Results that entrepreneurs have to achieve
42(1)
Types of entrepreneurs
43(2)
Conclusion
45(1)
Issues to ponder
46(1)
Relevant Internet sites to visit
46(1)
PART B
Creativity and innovation
47(14)
Abstract
48(1)
Chapter objectives
48(1)
Introduction
48(1)
Determinants of innovation and creativity in tourism
49(5)
Creativity and innovative organisations
54(3)
The role of entrepreneurs and intrapreneurs for business creativity and innovation
57(1)
Implications for tourism businesses
58(2)
Summary
60(1)
Issues to ponder
60(1)
Relevant Internet sites to visit
60(1)
Franchising
61(36)
Abstract
62(1)
Chapter objectives
62(1)
Introduction
62(2)
About franchising
64(3)
The development of franchising
64(2)
Future prospects for franchising
66(1)
Intrapreneurship, entrepreneurship and franchising
67(1)
Franchising systems
68(3)
Types of franchise systems
69(2)
Franchise roll-out models or options
71(3)
Single-unit or direct-unit franchising
71(1)
Multi-unit franchising
71(1)
Area development franchising
72(1)
Master or sub-franchising
72(1)
Conversion franchising
73(1)
Hybrid franchising
73(1)
Why open a franchise?
74(13)
The expectation of the franschisor and franchisee
74(2)
The franchisor: Advantages and disadvantages
76(2)
The franchisee: Advantages and disadvantages
78(2)
Buying a franchise
80(1)
Step in franchise selection
80(2)
Prospective franchisor: Evaluating needs
82(2)
Starting a franchise
84(3)
Franchising legal arrangements
87(3)
The franchise package
87(1)
Types of franchise legal arrangements
88(2)
Professional advice
90(1)
International franchising
90(5)
Summary
95(1)
Issues to ponder
95(1)
Relevant Internet sites to visit
95(2)
Evaluating the opportunity
97(14)
Abstract
98(1)
Chapter objectives
98(1)
Introduction
98(1)
The role of entrepreneurship
98(1)
Entrepreneurial decision-making
99(1)
Source of entrepreneurial opportunities
99(3)
Evaluating the environment and potential resources
102(2)
Factor conditions
102(1)
Demand conditions
103(1)
Related and support industries
104(1)
Firm strategy, structure and rivalry
104(1)
Change and government
104(1)
Evaluating the opportunities
104(4)
Summary
108(1)
Issues to ponder
108(1)
Relevant Internet sites to visit
109(2)
PART C
Understanding the business plan
111(20)
Abstract
112(1)
Chapter objectives
112(1)
Intrtoduction
112(1)
Planning process
113(2)
Type of plans
113(1)
Strategic management process
114(1)
Business planning
115(5)
Definition
115(1)
The business plan
115(1)
Advantages of business planning
116(1)
Disadvantages of business planning
116(1)
Types of business plans
117(3)
Before crafting the plan
120(3)
Objectives of the plan
120(1)
Timetables
120(1)
Market research
120(3)
Funding the business
123(1)
Crafting the business plan: Format and outline
123(3)
Executive summary
124(1)
Company profile
124(1)
Products and services plan
124(1)
Sales and marketing plan
124(1)
Financial plan
125(1)
Organisation and management
126(1)
Operations and production
126(1)
After crafting the plan: Presentation and communication
126(1)
Challenges and obstacles
127(1)
Summary
128(1)
Issues to ponder
128(1)
Relevant Internet sites to visit
128(3)
Compiling the business plan: Marketing plan
131(18)
Abstract
132(1)
Chapter objectives
132(1)
Definition
132(1)
Purpose and significance
132(1)
The structure of the marketing plan
133(14)
Executive summary
134(1)
Situational analysis
134(4)
Marketing strategies
138(8)
Implementation
146(1)
Conclusion
147(1)
Issues to ponder
148(1)
Relevant Internet sites to visit
148(1)
Compiling the business plan: Financial plan
149(22)
Abstract
150(1)
Chapter objectives
150(1)
Introduction
151(1)
The backbone: where market research, strategy and finance converge
151(1)
Where will the money come from?
152(1)
Traditional sources of capital
153(1)
Bootstrapping as a source of capital
153(1)
Estimating budget for start-up capital and sunk costs
154(1)
The basic tools of the financial plan
155(1)
The sales mix forecast
155(1)
A word on service-based tourism ventures
156(1)
The cash flow forecast
157(1)
The income statement (or profit and loss statement)
158(2)
The balance sheet
160(1)
Using ratios for performance analysis and benchmarking
161(1)
Ratios that indicate liquidity
161(1)
Ratios that indicate profitability
162(1)
Ratios that indicate financial or operational efficiency
162(2)
Planning for seasonality and longer-term trends
164(1)
What to measure, a triple bottom line approach
165(2)
Margin management strategy in action
167(1)
Option one: Grow your turnover by 10% through aggresive promotion
167(1)
Option two: Cut all costs by 5%
167(1)
Option three: Increase prices by 5%
168(1)
Issues to ponder
169(1)
Relevant Internet sites to visit
170(1)
Business plan: Organisational and management plan
171(16)
Abstract
172(1)
Chapter objectives
172(1)
Introduction
172(1)
Organisational issues
173(1)
Strategic choice for an SMTE
173(6)
Formulating a long-term plan
174(1)
Evaluating long-term plans
174(2)
Implementation of long-term plans
176(3)
Organisational management
179(4)
SMTE management team as participants in self-organising processes
179(1)
Management and control
180(1)
Management innovation in small business ventures
180(2)
Intrapreneurship or business entrepreneurship
182(1)
SMTE management portfolio
183(2)
Managerial structure
184(1)
Summary
185(1)
Issues to ponder
185(1)
Relevant Internet sites to visit
185(2)
Business plan: Operations plan
187(16)
Abstract
188(1)
Chapter objectives
188(1)
Introduction
188(1)
Research and design of products and services
189(1)
Phase 1: Selection
190(1)
Phase 2: Product/service design
190(1)
Phase 3: Process design
190(1)
Tourists and service delivery in tourism
190(1)
Capacity and output
191(1)
Purchasing management and material requirements
192(1)
Planning
192(1)
Routing and scheduling
193(1)
Service blueprint as an operational mechanism
193(2)
Quality management
195(1)
Integral inspection or selection
196(1)
Statistical quality control with sampling
196(1)
Total quality management (TQM)
196(1)
Forecasting
196(3)
Types of forecast
196(1)
Forecasting process
197(1)
Forecasting approaches
197(1)
Qualitative techniques
198(1)
Quantitative techniques
198(1)
Monotoring and controlling forecasting
199(1)
Synergies to reduce operational costs
199(1)
Economies of scale
199(1)
Operations challenges
200(1)
Summary
200(1)
Issues to ponder
201(1)
Relevant Internet sites to visit
201(2)
Compiling the business plan: Developing a service excellence plan
203(20)
Abstract
204(1)
Chapter objectives
204(1)
Compiling the business plan: Developing a customer service excellence plan
204(1)
Step one. Assess the characteristics of tourism
205(3)
Intangibility
206(1)
Perishability
206(1)
Inseparability
207(1)
Variability
207(1)
Step two. Why customer service excellence is so important
208(2)
The benefits of customer service excellence
209(1)
Benefits to employees
210(1)
Step three. Research your customers' needs
210(1)
Step four. How to achieve and maintain excellent customer service
211(2)
Step five. Strategies for improving customer service
213(5)
Measuring customer perceptions of service
213(4)
Researching customer service quality
217(1)
Step six. Training your staff to deal effectively with your customers
218(3)
Communication skills
218(2)
Problem-solving skills
220(1)
Step seven. Control and monitor the plan
221(1)
Step eight. Review the customer service plan
221(1)
Conclusion
221(1)
Issues to ponder
222(1)
Relevant Internet sites to visit
222(1)
PART D
Getting started
223(24)
Abstract
224(1)
Chapter objectives
224(1)
Introduction
224(1)
Establishment of a new small to medium tourism enterprise
225(8)
The personality traits and abilities of the prospective entrepreneur
225(2)
Resource needs and financing
227(1)
Markets and a marketing strategy
227(1)
The location of the small or medium-sized tourism enterprise
228(1)
Decide what form of business entity to establish
229(4)
Regulatory requirements
233(3)
Organisational structure and personnel needs
236(1)
The size of the prospective small to medium tourism enterprise
236(1)
Approaches to starting a small to medium tourism enterprise
236(2)
Creating a new enterprise
236(1)
Buying a current enterprise
237(1)
Franchising
237(1)
Leasing
237(1)
Sources of new business ideas
238(1)
Defining a business idea
238(1)
Positioning the business
239(4)
Strategy
239(1)
Market segment/market
240(2)
Types of service offerings
242(1)
Recovery management
242(1)
Exit strategies
242(1)
Security and insurance
242(1)
Reasons for success and failure in a tourism business
243(1)
Reasons for success
243(1)
Reasons for failure
244(1)
Conclusion
244(1)
Issues to ponder on
245(1)
Relevant Internet sites to visit
246(1)
People and teams
247(18)
Abstract
248(1)
Chapter objectives
248(1)
Developing teams in SMTEs
248(3)
Why do people form groups?
249(2)
Developing team skills in SMTEs
251(1)
Definition of roles
251(1)
Group norms
251(1)
Group size
251(1)
Dealing with team conflict
252(1)
Learning to negotiate
252(1)
How to develop effective teams
253(2)
Clearly stated goals
253(1)
Open communication
253(1)
Consensus decision-making
253(1)
Mutual trust
254(1)
Developing team leadership in SMTEs
255(3)
Delegation
255(1)
Making decisions
256(1)
Feedback
256(1)
Recognising individual strengths
256(1)
Developing team spirit
257(1)
Evaluating team progress
257(1)
Understanding cultural differences in teams
258(4)
Culture shock
258(1)
Ethnocentrism
259(1)
Stereotyping
259(1)
Differences in values, attitudes and beliefs
260(1)
Individual versus group orientation
260(1)
Nonverbal communication
260(2)
Conclusion
262(1)
Issues to ponder
262(1)
Relevant Internet sites to visit
262(3)
Family ventures: Opportunities, challenges and succession
265(24)
Abstract
266(1)
Chapter objectives
266(1)
Introduction
266(1)
What is a family business?
267(6)
Family businesses in tourism and hospitality
268(5)
Challenges facing family businesses
273(7)
Location and lifestyle
275(1)
Work as a craft
275(1)
Autonomy and control
276(1)
Balancing family and business
276(1)
Sustaining the business
277(1)
Value adding
278(1)
Product and service quality
279(1)
Innovative product development
279(1)
Family branding
279(1)
Growth and expansion
280(1)
Profit maximisation
280(1)
Strategies and alliances (at the community and destination levels)
280(1)
The challenge of within-family succession
280(5)
No viable heirs
282(1)
The dream is not shared
282(1)
Founders' reluctance to let go or to plan for succession
283(1)
Negative perceptions of the business or the work environment
284(1)
Gender
284(1)
The business, or its inheritance, is not viable
284(1)
Summary
285(2)
Management implications
285(2)
Issues to ponder
287(1)
Relevant Internet sites to visit
288(1)
Strategic perspectives
289(30)
Abstract
290(1)
Chapter objectives
290(1)
Introduction
290(2)
The nature of new SMTEs
292(25)
Critical success area: Strategic business planning
293(2)
Market access and market development
295(3)
Partnerships, alliances and networks
298(3)
Developing relationships
301(1)
ICT and e-tourism for SMTEs
301(3)
Quality assurance and management
304(5)
Responsible tourism and corporate social responsibility
309(5)
Participating in the international tourism economy
314(3)
Issues to ponder
317(1)
Relevant Internet sites to visit
317(2)
Managing growth of SMTEs
319(14)
Abstract
320(1)
Chapter objectives
320(1)
Introduction
320(1)
Product and business life cycle
321(1)
Reasons why SMTEs fail
322(7)
Growth strategies
329(1)
Identifying sustainable competitive advantage
330(1)
Summary
331(1)
Issues to ponder
332(1)
Relevant Internet sites to visit
332(1)
Intrapreneurship in the venture: Evolution, hurdles, leadership
333(16)
Abstract
334(1)
Chapter objectives
334(1)
Introduction
334(1)
Sustainable tourism, entrepreneurship and intrapreneurship
335(1)
Differences between entrepreneurs and intrapreneurs
336(1)
The evolution of entrepreneurship to intrapreneurship
337(3)
Intrapreneurship in sustainable tourism ventures
340(1)
Obstacles and hurdles to intrapreneurship
341(3)
The role of leadership in intrapreneurship
344(2)
Implications of intrapreneurship in SMTEs
346(1)
Conclusion
347(1)
Issues to ponder
347(1)
Relevant Internet sites to visit
348(1)
Purchasing a venture
349(18)
Abstract
350(1)
Chapter objectives
350(1)
Introduction
350(1)
Types of venture forms to purchase
351(1)
Buying an existing SMTE
351(1)
Reasons for buying an existing SMTE
352(2)
Acquiring an SMTE at a discount price
352(1)
Reducing uncertainties
352(1)
Existing operations and relationships
353(1)
Personal preferences
354(1)
Advantages and disadvantages of buying an SMTE
354(2)
Advantages
354(1)
Disadvantages
355(1)
Finding an SMTE to buy
356(1)
Business brokers
356(1)
Trade sources
356(1)
Newspaper advertisements
356(1)
Investigating and evaluating the existing tourism enterprise
356(4)
Reasons for selling the SMTE
357(1)
The business environment
357(1)
Financial viability
358(1)
Market viability
358(1)
Seasonality
359(1)
Physical condition
360(1)
Valuation of the tourism enterprise
360(3)
Valuation based on assets
361(1)
Earnings-based valuation
362(1)
Valuation based on cash flow
362(1)
Other forms of valuation
363(1)
Negotiating and closing the deal
363(1)
Management buy-ins and buy-outs
364(1)
Issues to ponder
364(1)
Relevant Internet sites to visit
365(2)
Selling/harvesting the venture: Selling at the right time, various routes to a sale, timing and tenacity of a sale
367(20)
Abstract
368(1)
Chapter objectives
368(1)
Introduction
368(1)
The importance of the exit
369(1)
Methods of exiting a business
370(6)
Selling the business
370(3)
Management buy-out
373(1)
Employee share option plan
373(1)
Releasing the business's cash flow
374(1)
Using private equity
374(1)
Forming an alliance with another venture
375(1)
Merging with another venture
375(1)
Going public
375(1)
Business valuation and the exit
376(5)
Book value
376(1)
Market-based method
377(1)
The earnings-based method
378(3)
Developing an effective exit strategy
381(2)
Timing
381(1)
Patience
381(1)
Vision to plan ahead
381(1)
Understand what you want
382(1)
Realistic evaluation
382(1)
Contractual agreement
382(1)
Structured deal
383(1)
Outside advice
383(1)
Conclusion
383(1)
Issues to ponder
383(2)
Relevant Internet sites to visit
385(2)
PART E
Case study: Tribal meetings
387(14)
Introduction and case outcomes
388(2)
Background
390(3)
Methodology
393(1)
Research findings of the case
393(5)
Evaluation of the case
398(2)
Issues to ponder
400(1)
Relevant Internet sites to visit
400(1)
Case study: Kamieskroon Bed & Breakfast
401(20)
Introduction and case outcomes
402(1)
Analytical framework
403(1)
History of the case
404(1)
Methodology
405(1)
Core offerings
406(1)
Challenges and factors affecting success
406(9)
Financial
406(1)
Location
407(1)
Seasonality
407(1)
Perceptions
408(1)
Grading
408(3)
Competitors
411(1)
Marketing
412(1)
Technology
412(1)
Growth management
412(3)
Strategic perspectives
415(1)
Organisational
415(1)
Socio-economic
415(1)
Environment concerns
415(1)
Responsible tourism
416(1)
Planning
416(1)
Business and financial plans
416(1)
Building and extensions
416(1)
Harvesing
417(1)
Evaluation of case
417(3)
Issues to ponder
420(1)
Relevant Internet sites to visit
420(1)
McDonald's, Canada
421(16)
George A. Cohon
Introduction and case outcomes
422(1)
Background
422(1)
McDonald's franchising
423(2)
Financial requirements/down payment
423(1)
Financing
423(1)
Ongoing fees
423(1)
McDonald's has always been a franchising company
424(1)
McDonald's offers
424(1)
Problem formulation/core issues investigated
425(1)
Research methodology
425(1)
Research-case findings
425(9)
The entrepreneur
425(2)
Internationalisation of Cohon
427(2)
The Soviet market
429(1)
Promoting entrepreneurship in Russia
429(1)
Foreign entrepreneurs
430(1)
The state of entrepreneurship and the small business sector in Russia
430(1)
Towards the future
431(1)
The changing environment
432(1)
Expansion in Moscow
433(1)
Product line
433(1)
Evaluation of the case
434(1)
Issues to ponder
435(1)
Relevant Internet sites to visit
436(1)
Kingtree Wines and Kingtree Lodge
437(18)
Introduction and case outcomes
438(1)
History of the case
438(2)
Methodology
440(1)
Research findings of the case
441(9)
Challenges along the way
441(1)
Factors affecting success
442(3)
Strategies for sustainability
445(5)
The future: Barriers and goals
450(2)
Evaluation of the case
452(1)
Issues to ponder
453(1)
Relevant Internet sites to visit
454(1)
Dyer Island Cruises (Pty) Ltd
455(14)
Introduction and case outcomes
456(2)
Case history and background
458(2)
Methodology
460(1)
Research findings of the case
460(4)
Primary business motive force: A financially sustainable business
460(2)
Responsible tourism practices
462(2)
Motivations, benefits and challenges
464(1)
The future
465(1)
Evaluation of the case
466(1)
Issues to ponder
466(1)
Relevant Internet sites to visit
467(2)
References 469(33)
Index 502