In this article all the essential aspects of TS-3 are covered in each unit, so especially when you’re preparing for the exam or even for the assignment going through this article, will be beneficial. So stay tuned to this article to learn about the TS-3.
TS-3 Tourism Management
Define Management
Management means planning, leading, making appropriate decisions, setting goals, and monitoring progress to achieve smooth functioning of the operation.
What are the responsibilities of a manager?
Here are some responsibilities of a manager:-
- Planning and setting goals
- Creating new strategies
- Hiring and training the employees
- Providing guidance and directing employees
- Motivating the team members
- Controlling and Monitoring the staff
- Making necessary decisions
Who is an entrepreneur?
An entrepreneur is a person who owns his own business usually with innovative ideas or products tries to solve the problem. They are the founder of their own company and from their business, they generate lots of profit.
Mention the factors that contribute towards the success of an enterprise.
Here are some factors that contribute to the success of an enterprise:-
- New Innovation and idea
- Understanding the customer’s needs and market
- Good planning and teamwork
- Execution and flexibility
- Providing good customer support
- Handling Financial Management
- Persistence and Adaptability
Why should you do a SWOT Analysis?
- It helps to identify the individual in identifying the strength.
- It tells you where the improvement part has to be done.
- It gives individuals potential chances and opportunities for growth and success.
- It helps in recognizing the threats and risks.
- It helps in resource allocation and setting goals.
- It addresses your weaknesses and threats.
- It helps in managing risk and challenges.
Why should an entrepreneur analyze the competitive situation?
Here are some reasons why entrepreneurs analyze the competitive situation:-
- It helps entrepreneurs to understand the market and target audience.
- It allows entrepreneurs to analyze competitors and differentiation.
- It helps to identify the upcoming risks and challenges.
- It helps them to figure out the opportunities to win.
- It helps them to avoid mistakes and make smart decisions for successful growth.
Why do we need a business plan?
Here are some reasons why we need a business plan:-
- It gives you guidance on how to run a business.
- It helps you in getting funding from the investors.
- It provides you with a complete roadmap that outlines your goals, plans, and procedures and how to achieve them.
- It helps you determine how much money will be required to start this particular business.
- It helps you to make smart decisions for the growth of your business.
- And last but not least it alerts you from making mistakes.
What are the main features of sole proprietorship as a business form?
Here are the main features of sole proprietorship as a business form:-
- Sole proprietorship means the business is run and managed by a single person or an individual.
- It is less expensive to start as a sole proprietorship.
- Whether the business is in profit or loss, you are responsible for that.
- To start as a sole proprietorship, does not require much paperwork and is considered easy to start.
- The owner is not reliant on the second person, alone he has to manage everything.
- The profit is not shared with the second person, the owner has full control of it to take all the profit earned from his business as a sole proprietorship.
- The owner pays all the necessary taxes.
- Sole proprietorship is beneficial for small businesses who want to become the founder of the company and want full control of their business and have control of the profits as well.
Discuss the main advantages of a sole proprietorship.
Here are some main advantages of sole proprietorship:-
- You have full control of profits and money.
- In a sole proprietorship, a single person is the owner so he decides everything and makes every decision.
- It is flexible and simple to start.
- No need to disclose financial information with the partner.
- You have to depend on others, it all starts with you.
- Sole proprietors maintain good privacy about their business as they do not share any information regarding their next move or any plan with a second person.
- It requires less capital to start a business as a sole proprietorship.
List the main disadvantages of a sole proprietorship.
- Alone you are responsible for paying business debts.
- One of the major challenges is to raise funds.
- Lack of experience and knowledge can affect business growth.
- Sometimes there is a lot of workload which can be time-consuming and hectic.
- If the owner Mets with an accident or faces any health issues then there can be a problem in managing the business and may have to bear losses.
- Due to fewer resources you may not be able to do good marketing and advertising.
Characteristics of tourism product
What do you understand by decision-making?
It means when you have various options and out of those options you have to pick one which seems to be the best for you, this is known as decision making.
List the steps in decision-making.
- First of all, identify the problem you want to solve.
- Collect the information related to that problem or situation.
- Make a list of possible situations and also consider their advantages and disadvantages.
- Make a choice which suits you best according to your preference.
- Implement your decision into action.
You may like this:-
| S.no | Topics (Click here on this link) |
| 1. | TS-1 Foundation Course In Tourism |
| 2. | TS-2 Tourism Development Notes |
| 3. | 10 Departments of Hotel |
| 4. | Define tourism and it’s types |
| 5. | MICE Tourism |
FAQs
What is the salary of a tourism manager?
The salary of a tourism manager in India is approx 5.8 lakhs.
What is the highest paying job in tourism?
The highest paying job in tourism is of Tourism Director.
How much India earn from tourism?
India earn from tourism is approx 17 billion dollars.
What is India's rank in tourism?
India's rank in tourism is 54th.
Conclusion
Ts-3 is all about Tourism Management. This post covers topics like defining management, the Responsibilities of a manager, who an entrepreneur is, the factors that contribute towards the success of an enterprise, Why should do a SWOT Analysis, Why should an entrepreneur analyze the competitive situation, why we need a business plan, The main features of the sole proprietorship as a business form, Main advantages of a sole proprietorship, List the main disadvantages of a sole proprietorship, What do you understand by decision-making, List the steps in decision-making, etc. Here you will find the all important aspects of TS-3 for exam preparation and assignment.