“Accessibly written and thoughtfully edited, making it essential reading for those studying hospitality and embarking on a career in the industry.” - Peter Lugosi, Oxford School of Hospitality Management “This text is a fascinating read… Roy Wood has spent 25 years teaching, researching and writing on the hospitality industry - much of that learning is here in this book.” - Erwin Losekoot, Auckland University of Technology “All different aspects of the hospitality industry are elaborated on… All in all a wonderful course book for for our students!” - Claudia Rothwangl, ITM College This book covers the major concepts students are likely to encounter throughout their study within the hospitality management, giving a comprehensive and up-to-date overview as well as providing engaging everyday examples from around the world. A leading figure in the field, Roy Wood has successfully gathered international contributors with direct experience of hospitality management and the hospitality industry as a whole, ensuring the academic, geographical and practical integrity of the book. Key Concepts in Hospitality Management is written for undergraduate students and those studying short postgraduate or executive education courses in hospitality management, events management, tourism management and leisure management.
Chapter : Editor's Introduction
Entrepreneurship in Hospitality
See also: Franchising; Industry structure and sectors in hospitality; Innovation in hospitality
Entrepreneurship derives from the word entrepreneur, which originated in seventeenth-century France and was applied to an individual who provided services associated with carrying out a commercial project for someone with capital to invest. In more recent times, it has been defined in numerous, often conflicting, ways with no single definition or interpretation being universally accepted. Morrison, Rimmington and Williams (1999: 4) state that efforts have been made to define entrepreneurship ‘relative to: an economic function; ownership structure; degrees of entrepreneurship; size and life-cycle of firms; and a resource base’. Most modern interpretations of the term emphasize the role of entrepreneurship in the identification of environmental or market opportunities and ...