TTP1102 Tourism Capstone Assignment Answers to Questions

TTP1102 Tourism Capstone Assignment Report Solutions

Instructions

Students are to write a type written report answering the questions under each topic in sentence and paragraph form. This written report is to be written in APA Format, double spaced with 1- inch margins on all sides, 12-point Times New Roman Font with page header at the top of every page with flush right page number. Please follow all guidelines and list all references and when quoting use APA in text citations.

The main objective of this report is to answer the questions given today to begin your Capstone. Each student is to participate and document what has been done. In addition to this each student is to play a role in the business and to say which role. Each group is to have a group leader which will be your CEO. Have all headings first and then the paragraphs answering the questions below. Under no circumstance are you to include the questions asked. This report is to flow naturally; in addition to this each person is to take on a role for this business. It is important to put at the end of the report which student did which part. I will be basing my comments off of this.

You are also to expand on the following:

The Business Opportunity

What is the problem your business will solve? Focus on the customer’s
Give your elevator Be succinct, clear, and persuasive.

Market Research

What information do you have on customers, competitors and markets?
What information will you need to find?
What field research can you carry out?
How much time and money will be needed?
Who will be responsible for each element?
List key factors for success in your industry.
Who is your main competition?

Target Market

Describe your customer
Will you serve a particular geographical area?

Company Description

Identify important facts about your business:

Founding date
Location
Mission statement (Write your mission statement linking your product or service to the customer needs it is aimed at)
Type of organization
Core strengths
Main leadership
How did you arrive at your new idea?
What is your business name and why did your choose it?
What experience and skills do you have that are particularly relevant experience and skills do you have?
What type of business are you planning?
What products or services will you sell?
What type of opportunity is it (new, part-time, expansion, seasonal, year-round)?
Why does it promise to be successful?
What is the growth potential?
How is it unique?
List your tasks and action plans as you see them at present
How much money do you think you will need to get your business started? Provide a short shopping list of major
Draw an organizational chart showing who is responsible for which
What people or skills gap are there in the organization you need to run your business? How do you plan to fill them?
How will you ensure that your key staff is motivated and loyal during the start up period?
What professional advisers (accountant, lawyer, patent agent) have you used or do you plan to use?
Under what legal form will you trade and why?

Product and Service

Describe your product or service as if explaining it to a novice
Is it currently available for sale? If not what needs to be done, how much will that work cost and how long will it take?
Do you have or plan to have any legal protection such as patents?
How is your product or service different from those already on the market?
Are there any possibilities of developing new products or services complementary to ones described?
Who are your customers?
Who will your customer satisfy?
Who are the innovators in your market segments?
What factors are important in the customers decision to buy or not?
List and briefly describe the business with which you will be competing directly with in the market.
Analyze their size, profitability and operating methods
What are their strengths and weaknesses compared to your business?
What is unique about your proposition?

Executive Summary

What are your principle objectives: short term and long term
Why will the business succeed?
What do you want to start (or change)?
How much money is required?
Why is the venture a good risk?

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