Entrepreneurship and Innovation Assignment 2022

Running Head: Entrepreneurship and Innovation
Entrepreneurship and Innovation
Name of the Student:
Name of the University:
Author’s Note

ENTREPRENEURSHIP AND INNOVATION1
EXECUTIVE SUMMARY
In the following report the business plan for a new venture will be discussed. The
chosen organisation for this particular report is Perth Marriott in Australia. The assignment
will focus on the entrepreneurial skills and on the concept of return on investment. The aim
of the report is to illustrate on the entrepreneurship qualities and the four area of innovation
that can be incorporated within the area Perth. The report will further discuss on the venture
description that will state a vivid account of the concept that is conceived with the description
of the venture that is professionally presented in the report. The strategic planning will
discuss on the approach that is identified. The portion of communication strategy will signify
rational demonstrating link between the management and the target audience. It is very
crucial for the new venture to be aware of the competitors in the same market. It is fair to
know the strengths and weaknesses of the rival firm so that the objectives of the firm can be
set accordingly. Further in the section of the financial analysis the details of the Corporate
Venture Capital funding is identified with a logical discussion.

ENTREPRENEURSHIP AND INNOVATION2
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................3
Name of the Company- Marriott, Australia.......................................................................3
Company Overview...........................................................................................................3
Venture Description...........................................................................................................3
Management.......................................................................................................................4
Marketing...........................................................................................................................5
Target Market.....................................................................................................................5
Communication strategy....................................................................................................6
Competitor Analysis...........................................................................................................6
Financial Analysis..............................................................................................................6
Risks and challenges..........................................................................................................9
Conclusion................................................................................................................................10
Reference..................................................................................................................................11
Appendix..................................................................................................................................14
SWOT Analysis.......................................................................................................................14
Porters Five Force....................................................................................................................14
..................................................................................................................................................14
Introduction

ENTREPRENEURSHIP AND INNOVATION3
The following assignment is based on a venture business plan that is inclined with the
chosen company. The aim of the business plan is to develop a business venture that is
acquired by the company (Burns and Dewhurst 2016). The purpose of the report will clearly
state the particular outcome of being sought in the plan with the client that is the Marriot
Hotel. The venture description will state a vivid account of the concept that is conceived with
the description of the venture that is professionally presented in the report. Further the
management part of the will highlight on the points of legal structure of the Marriot hotel
(Pratheepkantha Hettihewab and Wrightc 2015). The strategic planning will discuss on the
approach that is identified. The portion of communication strategy will signify rational
demonstrating link between the management and the target audience. However in the section
of competitive analysis the different concepts of the competitors are analyzed. Further in the
section of the financial analysis the details of the Corporate Venture Capital funding is
identified with a logical discussion. The key challenges facing the venture are identified,
described and rationale given for how they will be addressed.
Discussion
Name of the Company- Marriott, Australia
Company Overview
The Harbor View Hotel is the heritage that is situated in the heart of the continent in
Sydney which was constructed in the year 1922 and took one year for its completion. The
hotel was funded by Tooth and Company under the clause of 50 year lease. It is a three story
building with its basement with its remnant building and exterior walls (Kam 2016).