Entrepreneurship in the Travel and Tourism Industry

This unit is expiring
The expiry date of this unit is 31/07/2027.

Overview

Framework:
Access to HE
Level:
Level 3
Unit No:
QU032495
Credits:
3
Guided learning hours:
Not available

Qualification Grading Type

Graded

Grade Descriptors

  • GD1-Understanding the subject
  • GD2-Application of knowledge
  • GD7-Quality

Unit Learning Outcomes

1

Know how business plans can support a new enterprise within the travel and tourism sector.

Assessment Criteria

  • 1.1

    Explain the purpose of a business plan for a new enterprise within the travel and tourism sector.

  • 1.2

    Outline the relationship between the business plan and business objectives.

  • 1.3

    Identify key elements of an effective business plan.

2

Know how to use data to meet business objectives for a new enterprise within the travel and tourism sector.

Assessment Criteria

  • 2.1

    Evaluate methods to determine a business’ current market position.

  • 2.2

    Analyse how market research data can determine a business’ ability to meet current and new market opportunities, including those in the global market place.

  • 2.3

    Analyse potential business constraints that could impact on business performance.

3

Understand financial forecasting.

Assessment Criteria

  • 3.1

    Define financial forecasting.

  • 3.2

    Explain the role of planning budgets within a new enterprise in the travel and tourism sector.

  • 3.3

    Analyse areas of financial risk to a new enterprise within the travel and tourism sector.

  • 3.4

    Evaluate different sources of business finance for a new enterprise within the travel and tourism sector.