Course Details
Unit 1: Introduction LH 6
Concept, becoming an entrepreneur, key elements of entrepreneurship, characteristics of successful entrepreneurs, entrepreneurship in hospitality business, types of start-up firms, Importance of entrepreneurship- entrepreneurial firms, society and larger firms, The process of new hospitality venture creation, Entrepreneurship development in Nepal.
Unit 2: Developing Business Ideas LH 4
Identifying and recognizing opportunities- observing trends and solving problems, personal characteristics of the entrepreneur, techniques for generating ideas, encouraging and protecting new ideas; definition of creativity, innate or learned creativity, idea generation, approaches and Techniques, Research and Exercises, linking creativity, innovation and entrepreneurship, developing business ideas for hospitality business.
Unit: 3 Growth of Hospitality Firm LH 8
Nature of business growth, planning for growth, reasons for growth and managing growth, knowing and managing the stages of growth, managing capacity, day-to-day challenges of growing a firm, introduction to organic and inorganic growth of hospitality firms, Grainer's growth model, growth challenges for entrepreneurs, formula for successful growth, barriers to growth.
Unit 4: Feasibility Analysis LH 5
Concept, product/service feasibility, industry/target market feasibility analysis, organizational feasibility analysis and financial feasibility analysis for hospitality business.
Unit 5: Writing a Business Plan Financing Hospitality Firms LH 5
Concept, reasons for writing for a business plan, Guidelines for writing a business plan, section of the plan, presentation of business plan; introduction to financial characteristics of hospitality entrepreneurial business, sources of start-up funding, Sources of Financial, Financial Management in Hospitality Entrepreneur Businesses.
Unit 6: Industry and Competitor Analysis LH 6
Industry trends analysis, Five competitive forces model, the value of the five forces model, industry types and the opportunities, identifying competitors, sources of competitive intelligence, completing a competitive analysis grid.
Unit 7: Legal and Ethical Dimensions of Entrepreneurship in Hospitality Firms LH 6
Establishing a strong ethical culture, business licenses and business permits, sole proprietorship and partnership, Provisions of establishing entrepreneurs’ business in Nepal, legal and ethical issues facing entrepreneurs’ business in Nepal.
Unit 8: Start-up New Business Venture and Marketing Issues LH 8
Recruiting and selecting key employees, lenders and investors, funding requirements, sources of personal financing, venture capital, commercial banks, sources of debt financing; selecting a market and establishing a position, key market issues for new ventures, the 4 Ps of marketing for new ventures.
