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Question

Due to Covid-19, all industries have been affected, however, the tourism

industry in particular is suffering as borders closed to avoid the spread of

infections. Tourism is one of the largest industries worldwide and employs

directly and indirectly a large proportion of the workforce. The question is,

how will travelling change due to Covid-19, and other possible future threats,

and what innovations can help to ensure the future of the travel industry?

For assignment 2, you are required to identify and develop a new

entrepreneurial opportunity in the marketplace that is directly or indirectly

linked to travel and tourism. Please note, as all written assessments in this

unit have to be completed individually, you cannot use your team's startup

idea from assignment 1 if that was related to tourism. However, the skills you

gained during the live event or the alternative event sessions, are transferable

and for assignment 2, everyone has the opportunity to demonstrate what they

have learned. For this new startup idea, you should go through similar

processes as you did during the event sessions and will also be using the Lean

Canvas. Furthermore, you will also need to engage in research for relevant

data and information to support your startup development.

The entrepreneurial opportunity (startup) can be for a new or advanced

product or service for the travel and tourism industry or supporting industry.

First, you will need to research trends and Covid-19 issues related to the travel

and tourism industry. You can also use some of the links below to get some

ideas and develop your own startup idea. You can base your startup idea on

an existing idea, however, just copying and describing what someone else did,

will not be acknowledged with a good mark! You also need to keep in mind,

that you need to develop a business plan for the same startup in your final

assignment in this unit. Therefore, focus on something small and manageable,

and help the tourism industry in Darwin or other parts of Australia.

To start your entrepreneurial opportunity development, you need to research

and discuss relevant trends, industry and consumer aspects as these will be

the basis of the opportunity assessment. You need to focus your research and

opportunity assessment on the travel and tourism industry and problems

caused through Covid-19. Based on the identified problem and developed

startup solution, including revenue model, you are required to develop your

startup business model using the Lean Canvas. Finally, you have the

opportunity to reflect on your entrepreneurial journey so far, including the

assignment 1 event sessions, group work, and what you learned through

developing your own startup idea in this assignment. Reflections are an

important aspect of learning as well as growing as an entrepreneur.

Step-by-step answer

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