Entrepreneurship

To progress and be successful hospitality businesses must continually evolve.  Managers must be entrepreneurial in nature; they must review changing market conditions and foresee the areas for achieving a sustained competitive advantage. Participants in this course will learn how to identify an opportunity for business development and transform it to an actual business operation. In order to do this, it is imperative for managers to possess a diverse set of skills including marketing, management, financial, technological, creativity and innovation skills. The module involves a multi-dimensional focus on entrepreneurial knowledge, a sophisticated understanding of markets and consumers, and a thorough grounding in business approaches and strategies.

The course provides participants with an up-to-date and competitive education focus on entrepreneurship and environmental analysis.

The aim is to provide:

• Familiarisation of classical theories on the subject, as well as current areas of debate and research.
• A deep knowledge and understanding of contemporary research and business practices as well as frameworks, skills, and tools needed in entrepreneurial activities for change.
• The skills needed to identify, through the application of a structured process, a viable hospitality-business related opportunity and to articulate that opportunity in a business plan suitable for presentation to potential investors.
• The course provides a solid theoretical frame of reference as well as practical examples, and allows participants to integrate and utilize the knowledge through practical and process application of the strategy process.

1. First, participants acquire a capacity for informed critical understanding of environmental conditions and the ability to analyze current trends.
2. Second, organizing and co-ordinating competitive and co-operative relations in different settings are examined.
3. Third, entrepreneurial activities and competence building are reviewed and highlighted.
4. Fourth, a focus on the strategic process.

As a result of taking this course you will develop an understanding of:

• How to identify and understand the composition of an opportunity
• Critique, prioritize and recognize the factors in opportunity discovery
• Creative problem-solving ideas and skills
• Hospitality product life cycles and the need to constantly re-invent these products
• Common and specific business characteristics that support entrepreneurial activity
• The need for consistent environmental scanning and the mechanisms that can be used
• Methods to evaluate new business opportunities in terms of their feasibility and attractiveness to potential investors.

Indicative content

• Introduction to Entrepreneurship
• Case study analysis
• Environmental scanning
• A systematic process to identifying business opportunities
• Opportunity assessment
• Barriers to business start ups
• Lowering barriers to adoption
• The needs and expectations of investors
• Business plans – construction and evaluation
• The biggest mistakes made by entrepreneurs
• Developing unique business models
• Types of investments and the legal contractual environment

To apply for this course, please download and complete the registration form (PDF 80kb)

General information

Registration
All bookings must be confirmed in writing to The Emirates Academy of Hospitality. Course fees are payable upon confirmation of booking and an invoice will be sent to you. Bookings cannot be confirmed until payment and a completed application form is received. Fees paid are non-refundable.
Terms & conditions

Course Materials
The course fee includes everything required for the class work including instruction materials, notebooks, articles, note-paper, pencils and refreshments. Accommodation and transportation are not included in the course fees.

Dress Code
Attire for classes is smart casual.