The paper "Entrepreneurship, Innovation and New Ventures: Case of Letour Travel Agency" is a great example of a case study on business. The purpose of this business plan is to illuminate the business idea of Letour Travel Agency in Australia. The plan seeks to clarify the business regulatory environment, finance, marketing strategies, operations management, and human resources. Additionally, this business plan is intended to find out, describe and refine the competitive advantage of Letour Travel Agent and move it towards the achievement of its set goals and objectives. Letour Travel Agent is a newly opened travel agency in Australia, which majorly deals in city break tour and travel.
The business has full distribution license, rights and franchise in the country. In addition, the business is set to be operational in the whole of Australia as it has many branches in various cities. It is also intended to identify and meet the consumers’ needs effectively by providing safe, reliable, quality and affordable services than other travel agents. Background Letour Travel Agency was started with the aim of becoming the leading travel agent in Australia.
This implies that its establishment was motivated by the fact that consumers complain about the expensive, unreliable, risky, and poor quality tour and travel services that are offered by the already existing agents in Australia. Besides, the company also provides basic services, such as consultation, activity planning, ticket and hotel reservation, tour route setting and insurance. Therefore, the business was established in order to meet the aforementioned needs and to develop the country’ s tourism and hospitality industry as well as creating job opportunities for Australians. The business’ proprietors include William Brown, Mitchell Brown and James Whitestone. Scope The business is widespread in the country through its branches, and every branch has its specific services and products to the clients. Assumptions In the operation of this business, the company assumes that the consumers are not satisfied with the other travel agents that already operational in the country.
It also assumes that the business is going to make high profits as well as becoming the leading travel agent in Australia. Definitions Letour is a term that means to travel. General analysis Business mission Business vision: to become the leading travel and tour agent in the country. Business mission: to provide high quality, affordable, safe and reliable products, and services to consumers within and without the country.
Therefore, the business mission is to provide safe, affordable, reliable and quality services and products to the internal and global market so as to meet their economic and recreational needs. It also targets business people and urban white collars consumers. The business is committed to meet both the shareholders’ and consumers’ needs.