Topic: Hospitality and Tourism Product and Service Development
CASE:South Africa needs superheroes. But, not the kind that wear capes and fly around fighting crime. Nope. These superheroes are cloaked in ambition, occasionally wear business attire, and are most likely drinking way too much coffee. In short, we need go–getter, tough–and–ready entrepreneurs who are willing to run with their newest business idea.
In South Africa, small businesses are critical to our national economy. With a staggering unemployment rate of 27.6% and around 127 000 jobs lost in the third quarter of 2019 (Before Covid19), there has never been a stronger need for entrepreneurs to step up and fight for the nation.
The South African Government has even called on small businesses to help them in achieving their 2010 National Development Plan (NDP) objective of creating 11 million new jobs by the year 2030. One of the reasons for small business failure is the lack of alignment between ideas and skills. While South African entrepreneurs may have outstanding insights that allow them to identify niche markets and recognise opportunities, many do not have the necessary business skills that take them from Point A to Point Z.
Question 1
You are required to identify A business ideas that have the potential to be self-sustaining within the firsts 3 years of operation.
Your business ideas must comply with the following requirements:
1. Your ideas must by directly related to your industry. (Hospitality management)
2. The business idea must self-sustaining and debt free after a period of 3 years
3. Maximum start-up capital obtainable: R 250 000
30 Marks
Question 2
Write a short proposal on your selected business idea that clearly defines your business model.
The proposal should highlight the product or service as well as its relevance to modern South African consumer needs.
The proposal should also highlight the short and long terms goals, objectives and risks of the business.
Defines business model
Highlight the product or service relevance to SA consumer needs
Short term goals
Long term goals
Objectives
risks
50 Marks
Question 3
Synergy is a strategy where individuals or entities combine their efforts and resources to accomplish more collectively than they could individually. It eventually results in increased productivity, efficacy, and performance.
You are required to find at least 1 synergetic relationship with one of your fellow start-up companies. The relationship can be one-way and one company can also have relationships with multiple others as long as it is logical and reasonable.
