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BSHSP 3004 ENTREPRENEURSHIP

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Assignment 1:

Individual Research Assignment

Student name: CAO THI HAI YEN

Student number: G0867253P

Lecturer: Mr. TAY JIN

Due date: Week 4 – Friday, 13th April 2012

TABLE OF CONTENTS

Content Page

1. Introduction 3

2. A brief description of the hotel industry 3

a) Concept 3

b) Classification of the hotel 3

3. Significant issues facing entrepreneurs in hotel industry 4

3.a Labour Shortage 4

3.b Competition 4

3.c Global Economy 4

3.d Safety and Security 4

4. Level of entrepreneurial activity in hotel industry 5-6

4.a Innovation 5

4.b Opportunities 5

4.c Expansion 5,6

4.d Product Development 6

5. The factors influence the probability of new ventures success 6-7

5.a Entrepreneur Characteristic 6

5.b Branding 7

5.c Location 7

5.d Customer Service 7

5.e Product differentiation 7

6. Conclusion 8

7. References list 9

1. Introduction:

In the recent years, the hotel industry is one of the fastest growing sectors in economy. It is diverse enough for people to work in different area of interest and still be employed within the hotel industry. And the purpose of this article will give us more understanding of the entrepreneurial activity and some significant issues facing entrepreneurs in hotel industry as well as the factors influence the probability of new ventures success.

2. A brief description of the hotel industry:

a. Concept

A hotel is an establishment whose primary

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