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Entrepreneurship refers to the process of starting a business or organization. In travel and tourism, entrepreneurship can be seen in a wide range of services, including hotels, restaurants, catering, travel agencies, tour operators, and tour guides. In this entry, acquired needs theory is applied to discuss the factors that compel people to run their own businesses. The entry then outlines current thinking about entrepreneurial ventures and what makes them successful, the entrepreneur’s role in tourism, and approaches to understanding the characteristics of an entrepreneur.

Acquired Needs Theory

For years, many researchers have been pondering why people decide to leave their jobs and begin new ventures, with no guarantee of success. Researchers have analyzed what is so attractive about being an entrepreneur that it motivates people to take ...

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