Discuss the specific talents that make a successful entrepreneur in a global hospitality industry and how they use these talents to develop new products and services.

Discuss the specific talents that make a successful entrepreneur in a
global hospitality industry and how they use these talents to develop
new products and services.

Description

Your essay should provide a critical analysis of what ‘makes’ an
entrepreneur in the context of the hospitality sectors. You should
reflect on theory but you should also make reference to contemporary
examples of entrepreneurial activity in the global hospitality
marketplace. Also make reference to new product development in the
sector and how this links to entrepreneur flair.Consult academic
literature and market intelligence sources in planning your answer.
Note from tutor:
1. key words: contemporary, theory, academic literature and market
intelligence.
2. organisation– theory– practical?
3.what talents make successful in long term? what talent need in
hospitality?
4. qualities– talents– skills
5.In main body part, you can use about 4 case studies to compare (hotels)
6. In conclusion part, you can use agree or disagree to conclude.
7. not business strategy
PPT information from lesson: ( might be useful but not necessary use all
of them)
Entrepreneurship
A person who organises and manages any enterprise especially a business,
usually with considerable initiative and risk (English Dictionary)

The history of entrepreneurship literature
See article be Li Lan (2008)
First text by Morrison, Rimmington and Williams, 1999
7 key areas; Small business, Entrepreneurial behaviour and activities,
Individuals or entrepreneurs, Family business, New ventures and
Corporation Entrepreneurs.
Skills of the entrepreneur:
Optimistic and future orientated
Willing to take risk
Fast moving and flexible
Willing to risk their own money and ego
Skilled at selling
Creating differences and uniqueness
Can cope with legal and governmental restrictions
Good problem solvers
Good at financial control and business processes (Entrepreneur 21 March,
2005)

Leadership skills
Honesty
Principled
Fairness
A belief in people and training
A desire to contribute to the wider community
Courage
Competence
Presence
Straightforward
Clear communicator
Endurance
Tact and empathy
Dependable
Vision
Corporate entrepreneurship- this is where a leader works in a large
company and demonstrates leadership and entrepreneurial skills within
the company
Entrepreneurship — also known as corporate entrepreneurship and
corporate venturing is the practice of developing a new venture within
an existing organization, to exploit a new opportunity and create
economic value
Entrepreneurship by contrast is the act of developing a new venture
outside an existing organization. There is evidence that
entrepreneurship helps managers to renew and revitalize their
businesses, to innovate, and to enhance their overall business performance
(Source: Parker, SC
Journal Of Business Venturing, 2011 Jan, Vol.26(1), pp.19-34 )
Entrepreneurial behaviour
http://www.emeraldinsight.com/doi/pdfplus/10.1108/13552551111114941
We will be looking at what it involves over the next few weeks and how
good you would be at it!
The role of SME’s
file:///C:/Users/shorner1/Desktop/NB6004773ENC_002.pdf

The abbreviation “SME” is used in the EU and by international
organizations such as the World Bank, the UNand the World Trade
Organization (WTO). Small enterprises outnumber large companies by a
wide margin and also employ many more people. SMEs are also said to be
responsible for driving innovation and competition in many economic sectors.