Today in this world where corporations have assumed gigantic proportions in their use of all the resources for management, there is a clear threat of social exploitation. The social leaders as well as the business leaders are thus legally and morally obligated to sustain the society and also repay certain important ingredients which keep the society healthy and alive. This has given birth to the concept of corporate social responsibility (CSR). The corporations are trying to make profit and at the same time discharge their social responsibilities. As a contemporary coincidence the tourism industry also has undergone similar transformation. Mass tourism which is marked as the main economic developer in the global business has also assumed diabolic proportions. It is tending to consume and destroy the very attractions and infrastructures on which the edifice of tourism industry stands. This situation has given birth to sustainable tourism. Sustainable Tourism has its roots in the concept of sustainable development that meets the needs of the present without compromising the ability of future generations to meet their own needs. In this article an effort has been made to showcase the striking similarities of CSR and sustainable tourism. In the global business context the future generations should practice responsibility and a sustainable form of tourism to save their respective businesses and planet earth.
Marketing research is defined as "the systematic and objective process of gathering, recording, and analyzing data for aid in making marketing decision." The essence of marketing research is to provide information used in decision making, and for the entrepreneur; there are fundamental differences between market information needed prior to start up and after a firm is established. Prior to opening for business, the entrepreneur wants to know whether a market exist for a new product or service, who is likely to be a primary customer, how to position the enterprise in a market, and how the product or service will be priced, promoted and distributed. Addressing these issues become part of the pre start up planning process. Once a firm has become established, much of this information is authenticated through actual experience, and market research expands to include a continuous competitive analysis.An effort has been made to demonstrate the above mentioned characteristics of marketing research undertaken by the entrepreneurs. The first half of the article portrays an effective framework of the methodology for marketing research. Entrepreneurial marketing research differs from its normal counterpart. These exclusive features are expressed and discussed in details. In the second part of the article, an effort has been made to narrate the nature of marketing research that can be ideally applied to all the different stages of successful venture life cycle. The functioning of all the different stage of the life cycle are discussed with the corresponding marketing research techniques that can be ideally applied, being expressed.
Few industries have such an attraction for those who want to own their own business as hotel keeping and catering. It has about it glamour and holds out the promise of considerable personal and financial satisfaction. The glamour certainly exists. There is something intensely theatrical in running a hotel or restaurant, where new and often surprising events occur every day, bringing the owner into contact with people from many different walks of life, some of them famous. And there are numerous examples of inexperienced businessmen who have come into the industry, ventured in their own hotel and gained for themselves a happy and secure future.
Entrepreneurs all over the world have contributed to the economic development of their region. They play a major role not only in organizing production, but in a broader sense, promote the process of economic development. The function of an entrepreneur is to reform or revolutionize the pattern of production by exploiting an invention or more generally an untried technology possibly for producing a new commodity or producing an old one in a new way, by opening up a new source of supply of raw materials or developing a new market. The factor responsible for change, development and ultimately economic growth is innovation. Innovation is the key for not only in developing, new products or (services) for the market but also in stimulating investment interest in the new ventures being created. Innovation is the principal ingredient of entrepreneurship.Tourism is a smokeless service industry as it consumes less energy and pollutes least compared to any manufacturing industry. United Nations, World Tourism Organization and Department of Tourism Government of India have bestowed 'Industry' status to tourism in order to enable the industry to enjoy all the incentives and grants offered to industries in general. Currently tourism enjoys the pride of being the second largest growing industry next to IT. Tourism promotes better national and international relationship through cross culture interaction. Backward areas with its residing people can be uplifted with tourism activities without investing in capital intensive industries. The importance of tourism industry is more pronounced as it employs the largest number of manpower and earns the maximum foreign exchange. Being a part of the services sector tourism has also given birth to innumerable entrepreneurs who thrived on their personal creativity and innovativeness.An effort has been made in this paper to present the career progress of Captain Gopinath who is undoubtedly one of the greatest tourism/ entrepreneurs of the 21s1 century in India. Gopinath sacrificed a secured career in the Indian armed forces to strike on his own and in the process established a number of entrepreneurial establishments in aviation and tourism industry. Captain Gopinath neither followed management theories nor had formal management qualifications. But his actions and achievements had close resemblance with the deliberations of the best management gurus. A study have been conducted to compare the behaviors, actions and achievements of Captain Gopinath with the works of great authors who have researched and contributed over the years on 'Entrepreneurship'.
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