Entrepreneurship for Rural Tourism and Events
- Module code
- Module leader
- Federico Topolansky
- Module level
- Module credits
- Min study time
- 150 hours
- Contact Hrs within study time
- 30 hours
- Teaching period
- Semester 2
An introduction to entrepreneurship theory
The module starts with an introductory section which aims to define entrepreneurship, the key underpinning theories and typologies relating to rural tourism and events.
Within this part of the module we shall also consider eco entrepreneurship and its relationship with sustainable tourism, the role of intrapreneurship, and issues of enterprise within a family business.
Developing an entrepreneurial business strategy
We go on to study the value of entrepreneurial business strategies in achieving high performance. It evaluates entrepreneurial strategic choices and its implications for management. The module explores different alternatives for entrepreneurial strategy development.
Business planning for tourism and event ventures
Taking a creative concept to market drawing on sound business and financial skills is crucial to the success of the tourism and events entrepreneur. This section of the module will enable students to consolidate the range of concepts, skills and knowledge acquired in term one (form this and other modules) and to develop these formally into a viable business case.
The ability to identify and understand trends and gaps in the sector is crucial to the entrepreneur. We first spend some time analysing the market and key drivers and consumer needs. We then go on to discuss developing business models; contingency planning and risk management; financial planning for new tourism ventures (cash flow, profit and loss, balance sheets, breakeven analysis, pricing, sensitivity analysis, accounting for VAT and PAYE); raising finance (loans, grants, crowd funding); enterprise start-up; project planning, launch and execution; and compilation and presentation of a final business plan focused on a tourism or event venture.
Following completion of this module students should be able to:
- Demonstrate an ability to select and apply suitable entrepreneurial strategic frameworks to analyse complex situations.
- Critically analyse and evaluate tourism and event trends and opportunities in a specific market place.
- Identify, develop and appraise a suitable entrepreneurial business model for a new tourism or event enterprise.
- Apply and integrate the full range of relevant knowledge and skills when developing a business plan for the introduction of a new sustainable tourism or enterprise.
Students should be familiar with the content of at least one of the following:
- Ashton, R. (2009) How to Start your Own Business for Entrepreneurs. Pearson.
- Deakins, D. and Freel, M. (2012) Entrepreneurship and Small Firms. (6th edition). McGraw Hill, Maidenhead.
- Storey, D.J. and Greene, F. (2010) Small Business and Entrepreneurship, London: Pearson.
- Williams, S. (2015) The Financial Times Guide to Business Start Up 2015. (28th edition). Pearson.
- the following aspects:orth 6ly on a brief s extra and add value to their projecty Wickham, P. (2006) Strategic Entrepreneurship, 4rd ed. Pearson Education Ltd.
- Blackwell, E. (2011) How to prepare a business plan (5th edition). Kogan Page, London.
- Dyson, J. (2010) Accounting for non-accounting students (10th Ed). FT Prentice Hall
- Finch, B. (2010) How to Write a Business Plan. Sunday Times.
- Gray, R. H., Adams, C. and Owen, D. (2014) Accountability, Social Responsibility and Sustainability: Accounting for Society and the Environment. Pearson Education.
- Beech, J. and Chadwick, S. (2005). The Business of Tourism Management. Prentice Hall.
- Beech, J. Kaiser, S. and Kasper, R. (2014). The Business of Events Management. Pearson.