Entrepreneurship, Enterprise and Innovation Opportunities

This document provides an overview of entrepreneurship, enterprise, and innovation opportunities. It covers theories of entrepreneurship, competitive advantage analysis, and spotting opportunities in the industry. The document also includes a case study of an entrepreneur and a SWOT analysis.

Assessment

Table of Contents
1. Executive Summary.....................................................................................................................3
2. Overview of the company............................................................................................................4
2.1 Business aims & objective.....................................................................................................4
2.2 Vision and Mission................................................................................................................4
2.3 Key people – functions & background..................................................................................4
3.0: Entrepreneurship, Enterprise and Innovation& Opportunities.................................................5
3.1 Entrepreneurship....................................................................................................................5
3.2 Enterprise...............................................................................................................................6
3.3. Innovation.............................................................................................................................6
3.4 Spotting opportunities / identifying the gap in the industry..................................................6
4. Theories of Entrepreneurship......................................................................................................7
4.1: Rotter’s Theory/ Belbin Theory/Manslow/ any other relevant theory.................................7
4.2 Which Entrepreneur do you see yourself as?........................................................................9
5. Competitive Advantage analysis:................................................................................................9
5.1 SWOT analysis......................................................................................................................9
5.2 Market information..............................................................................................................10
5.3 Competitors..........................................................................................................................11
5.4 Market Segment...................................................................................................................11
6. The process of idea generation..................................................................................................12
6.1 Why chosen project is necessary.........................................................................................12
6.2 Thoughts driven...................................................................................................................12
6.3 USP......................................................................................................................................12
7. Financial Analysis.....................................................................................................................12
7.1 Budget of the Project...........................................................................................................12

8. Conclusion.................................................................................................................................13
10. References................................................................................................................................14

1. Executive Summary
The proposal allows exploring the theory of entrepreneurship alongside behaviors and
characteristics, role, the USPs of the product/service, sources of finance, route to market and
external support that you may need. This project report consists of projected budgeted cost table
and rationalization of chosen project topic.

2. Overview of the company
2.1 Business aims & objective
The aim of the business is to provide customers with fresh, healthy and great tasting food at
reasonable prices in a proper hygienic environment.
The main objective of the business is to the regeneration of Grays, making the most of the
riverfront of the town, creating new jobs for the local community, entertaining a diverse
population through the evening and improving the quality of life of the local community.
2.2 Vision and Mission
Vision: Company has a vision of building a place where customer can socialize with their loved
ones, in a warm and welcoming atmosphere and accompanied by calm sounds of the waves
breaking on the shore.
Mission: Save the Date is a project that has a mission to contribute to the regeneration of Grays,
making the most of the riverfront of the town, creating new jobs for the local community,
entertaining a diverse population through the evening and improving the quality of life of the
local community.
2.3 Key people – functions & background
1. Manager:
Functions: Run a local restaurant and get to know the local buying sources, suppliers and
strategies. The bar administrator should have the option to open and close the bar; buy food and
drink; open the cash register; wake stocks; staff preparation and management; supplier
management; create and implement an advertising strategy; and handle various tasks. Beyond
these responsibilities, the controller must match the diner's style and character. Try not to hire a
janitor to take care of your high base.
Background: Should have at least three years of non-management restaurant experience in addition
to two years of managerial experience. Additional to this he will have leadership skills and the
ability to supervise personnel in the kitchen, service area, hospitality entrance, bar, lounge and
restrooms, and who can also make customers feel welcome and comfortable.
2. Chefs

Functions: Chefs plays core role in restaurant as they take care of food taste, different cuisines
and customer’s preferences. It is the chef who attracts customers towards restaurant again; after
view point of the restaurant the next thing matter is chef’s dish.
Background: Should have minimum 3 years experience and have done 3 year diploma in chef at
UK and familiar with different regional foods and preferences of customers.
3. Cooks
Function: At least three cooks are required to execute any operations; out of which two cooks are
for full time and one for part time. One of the full-time cooks should work days, and the other
should work evenings. The part-time cook will help during peak hours, such as weekend rushes, and
can work as a line cook, doing simple preparation, during slower periods. The full-time cooks can
also take care of food preparation before the restaurant opens, during slow times and after the
restaurant closes.
Background: Should have experience as a cook and has diploma in cooking from any institution.
4. Dishwashers
As the job title implies, dishwashers keep clean dishes available in your restaurant. Restaurant can
probably get by with two part-time dishwashers, one working the lunch shift and the second covering
the dinner shift.
5. Serving Staff
Servers are the people who have multiple connections to your customers, so they should establish a
good connection so that customers return. The servers need to be able to operate well under voltage,
satisfy the needs of the customers on some platforms and at the same time maintain an advanced and
enjoyable approach. Overall, there are only a few times a day for the staff: slow and extremely busy.
3.0: Entrepreneurship, Enterprise and Innovation& Opportunities
3.1 Entrepreneurship
Entrepreneurship is the ability and status to create order and support a business together with any
of the for-profit vulnerabilities. The most obvious problem is starting new organizations. The
entrepreneur is identified as someone who has the ability and wants to build, track and gain the
upper hand in a start-up adventure with a qualified opportunity for him, to benefit from it. The
best problem with the campaign is the start of another effort. Corporate viewers are often

referred to as the source of new ideas or the setting of trends and acquire new ideas on the
market by replacing them with other old developments.
3.2 Enterprise
Enterprise is another word for a company or company that makes a profit, but is often associated
with business ventures. People with entrepreneurial success are called “enterprising”.
3.3. Innovation
Innovation in its modern meaning is "a new idea, creative thoughts, and new imaginations in
form of device or method". Innovation is often seen as the use of better agreements that meet
new pre-requisites, unmet needs or needs from an existing business sector. This development
takes place through the alignment of objects, forms, administrations, developments or accessible
action plans accessible to industry, government and society. Promoting something special and
increasingly feasible and, consequently, new, is "breaking" into the market or society.
Development is characterized by creativity, but it is not equivalent to it, as progress has the
potential to lead to useful performance (i.e. new / improved capacity) to have a significant
impact on the market or in society and not all progress requires innovation. Development often
[manifests itself] with the design method, when the material in nature is specific or logical in
nature. There is something against progress like innovation.
3.4 Spotting opportunities / identifying the gap in the industry
• The riverfront in Grays is a picturesque dinning location, whose values have not been
fructified until now (Thurrock Magazine, 2020).
• Research in the hospitality industry highlight that Britons enjoys having dinner at the
water’s edge to take in the views (Falk, 2020)
• UK has a few waterfront restaurant and there is none waterfront restaurant in Grays or
local neighbourhood (Falk, 2020).
• There is not a contemporary and comfortable restaurant to dine in Grays at the moment.
The local community and closed neighbourhoods need to travel to London for a special
atmosphere to dine. (Thurrock Magazine, 2020)

• The local council is also encouraging investors to the most of the unvalued places of
Grays to the contribute to the regeneration of the town and its community. One of the
unvalued places in Grays is the riverfront (Thurrock Magazine, 2020)
4. Theories of Entrepreneurship
4.1: Rotter’s Theory/ Belbin Theory/Manslow/ any other relevant theory
Rotter’s Theory
The main idea in Julian Rotter's idea of social learning is that the character speaks to the society
of the person with his condition. One cannot speak of a character, within man, who is free from
the earth. You would not be able to focus on behaviors such as a planned reaction to a target set
of natural improvements. Or perhaps, in order to achieve behavior, it is necessary to take into
account both (i.e. the history of his life learning and going back) and the ground (i.e. those
updates that the individual is familiar with and ' deal with). Rotter describes the character as a
consistent approach to being able to deal with situations with a specific intended goal.
Rotter sees the character, and based on that direction, as constantly changing. Change the way
the individual thinks, or change the situation in which the individual is reacting, and their
behavior will change. It does not accept that there is a base period after the character is set. Be
that as it may, the greater one's educational experience in developing certain proportions of faith-
based expectations, the greater the effort and intervention required. for change to happen. Rotter
treats people with confidence. He believes they are attracted to their goals, trying to strengthen
their stronghold, rather than just keeping a strategic distance from control.
Rotter has four main components in its behavioral social learning hypothesis model. These are
capable of behavior, expectation, respect for support and a state of mind:
Behavior Potential: Behavioral skill is the probability of participating in certain behaviors in a
particular situation. So what is the probability that the individual shows certain behaviors in a
situation? In some random situations, there are several practices you can join. For every possible
behavior, there is a bearing capacity. The individual will show whatever behavior has maximum
potential.

Expectancy: The abstract aspect should induce particular behavior, or reinforcement. How likely
is the behavior to promote the outcome? High or low expectations mean that the individual is
confident that his behavior will bear fruit. With low expectations it means that trusts are
individual, it is amazing that their behavior will support them. In the event that the results are
less attractive, we will participate in the behavior that has the best chance of paying off (that is, it
has the most remarkable expectations). To have high expectations, individuals must accept both
(a) that they have the ability to take adequate control of their behavior and (b) that their behavior
is solid.
Reinforcement value: Reinforcement is another name for the products of our behavior. Luck
talks about getting these results. The things we have to meet have a high consolidation value, to
which we have been attracted. The things we would rather not happen have a low consolidation
value, from which we want to keep a strategic distance. If the probability of obtaining support is
equal (that is, expectations are equal), we will reveal the behavior with the best consolidation
value, the one that is coordinated towards the result we are aiming for. continues towards the
majority. As the name suggests, the idea of social learning is very important in shaping our
behavior. Social consequences, such as affirmation, love or dismissal, have profound effects on
our behavior. For individuals, the most important reinforcements are social reinforcements.
Psychological condition: The psychological situation speaks to Rotter's idea that the
understanding of the nature of each person is new. Despite the fact that mental state is not
directly related to Rotter's equation to expect behavior, Rotter hopes that it is always necessary to
remember that different individuals determine a situation. similar to the unexpected. Different
people will have different advances and support estimates in a similar situation. In this way, it is
the emotional interplay of the Earth with individuals, as opposed to a target group of therapists
that is important to them and determines how to move forward.
Belbin Theory
A successful method for examining the strengths and weaknesses of an organization. Encourages
the group to understand the methods by which it can be executed.

Created by Meredith Belbin in 1981, after nine years of research and found one of the most
widely available and commonly used instruments to help build groups. The group works were
intended to identify and anticipate the performance of leadership groups, seeing that the most
basic groups have a different mix of characters and character types. It has been studied because
of its potential for misrepresentation and 'classification' of human beings. However, when used in
a subtle way to understand the work of the organization and to recognize the strengths and
weaknesses of the organization, it can be very helpful.
Belbin describes group work as “a tendency to persevere, contribute and connect with others
with a specific goal in mind.” There are 3 tasks mediated by activity - Shaper, Implementer and
Completer Finisher; 3 fixed positions per person - Coordinator, Team Worker and Facilities
Inspector and 3 cerebral jobs - Plants, Survey Assessor and Specialist.
Maslow’s theory
Maslow creates his pyramid with psychological needs, such as food, port and rest, found with
well-being needs that include financial and professional sustainability. Maslow argues that these
basic needs should be met before intermediate needs such as place, love and trust can be met.
Finally, Maslow has made it possible for individuals who have achieved the four previous
needs to achieve self-fulfilling nirvana, the ability to reach your hidden potential or to be
naturally satisfied. If this were valid, no one could become a businessman.
4.2 Which Entrepreneur do you see yourself as?
I see myself as KIM ANTONIOU (KAFOODLE)
5. Competitive Advantage analysis:
5.1 SWOT analysis
SWOT analysis is a very basic, but amazing tool to help you improve your business approach,
whether you are setting up a start-up business or controlling a custom group.
SWOT represents strengths, weaknesses, opportunities and threats.

There are strengths and weaknesses within your organization, things that you have little
authority over and can change. The models cover who you are in your organization, your
licenses and protected innovation and your area.
There are opportunities and threats on the outside: things that are happening outside the
organization, in the larger market. You can make the most of the opportunities and insure
yourself about the risks, but you can't transform them. Models include contenders, raw material
costs and messenger purchase models.
Strengths
Advantages, capabilities, resources, assets,
people and marketing – Reach, distribution,
Awareness.
Weaknesses
Lack of competitive strength
Financials
Vulnerabilities, Timescales, deadlines and
pressures. Continuity supply chain robustness.
Opportunities
Market developments
Business and product development
Threats
Environmental affects’
Market demand
Obstacles
5.2 Market information
Consumer expenditures for low-cost food buyers increased in Gray in the late 2000s, followed
by the recovery of the France economy. The growing number of new bases, such as cheap
grocery stores, unpretentious coffee shops and gourmet patisseries around Gray, has shown
crucial development in this sector. Food consumption represents approximately 56% of total
consumer consumption in Gray, while consumer spending on leisure and entertainment
accounted for 13% of total consumer costs.
There is much more information for the weekend clubs because these are the days when most of
the center's target market values the mall's businesses.
Age - Youngsters, single, currently enrolled in college and high school.
Family unit - We will also appeal to families (young families) with children.
Gender - We will target both sexes, with a slight skew for males due to their lower attention to
dietary concerns.
Income - We will appeal to the medium income individuals and to all in the lower medium
income bracket.

Our concept will have very broad appeal. It is our goal to be the hip destination for fast food
cravings.
As indicated by a continuous open overview of people aged 15 to 45, 80% of those who spoke
with cheap food of the same kind. 90% of them are always fond of cheap food and 10% have
pledged to like “definitely” cheap food or “love” cheap food. The review also identified some of
the reasons for the growing reputation for cheap food:
 There are 52 weekends and three extended holidays each year. A large part of
Singaporeans love to shop and when they go for a walk in the shopping area, they need
light meals to speed up their workouts.
 Workplace workers have stopped providing lunch and appreciating chicken, burgers,
pizza or other cheap food items in the region.
 Defenders give children more money and say they're buying lunch. Cheap food is usually
the best option, with a focus on brand building efforts that are strongly focused on
meeting their age.
 Eating outdoors will always be a constant understanding in Singapore forever. They do
not see cheap food as a waste, and value it by bringing their family, especially if they
have younger children, to the land of cheap grocery stores in a western style.
5.3 Competitors
Some of the competitors of Save the date are Grey Falcon, Greyhouse and BroMomo
5.4 Market Segment
We focus on Gray young couples as our essential market. The riverside is the place to meet and
relax after school. Due to Gray's out-of-school exercises among young people, it is critical that
tall children eat inside shopping malls and not at home. They typically run to cheap food links
within Riverfront shopping malls.
Our support market cookie is "Working Gray Residents". With such a large number of shopping
centers in the center, Riverfront is a paradise for coastal broadcasters and people who also want
to eat by the sea. The new Paragon mall now houses over 8,000 employees who fill the way
people manage store staff.
Finally, Riverfront is also a destination for travelers still in the area. The Meritus Mandarin
Hotel, the Crown Prince Hotel, the Hilton and the Popular Hotel are one or two of Gray's greatest

services. Holidays walk along the river, running nonstop on the beach and have no good chance
of stopping for a full dinner while visiting and having a lot of fun playing. New Fries is the ideal
option for light snacks while shopping for the extravagant boutiques in the area.
6. The process of idea generation
6.1 Why chosen project is necessary
The chosen project is necessary because there’s market gap and opportunity for Save the Date to
open a restaurant by taking first initiative as no other restaurants and hotels have been opened at
this prime location.
6.2 Thoughts driven
While roaming around the shore of riverfront of Gray, the urge to dine out near the sea kicks into
mind. After taking opinion of other people it was found that they also desire to dine out near sea
with taking wonderful view of sun set and rise.
6.3 USP
The main USP is; there is no other restaurant that is providing the same service there. Additional
to this fresh food with multiple options will be available to consumers at cheaper price with
facility to sit near sea shore taking view of sea water.
7. Financial Analysis
7.1 Budget of the Project
Building Stage £100,000
Equipment £50,000
Furniture £40,000
Marketing £20,000
Staff £20,000

8. Conclusion
The core watchdog is based on the authors themselves, with very little backing. As we develop,
we will take further help in some key areas. Part of our basic way of thinking will be to be able
to govern our official administration as an “information sharing” society. We will not include
additional costs until they are fully operational. This means that the core staff support team
should work harder. That way, we keep our base costs as low as expected, allowing us to supply
enough staff to our stores. This will also allow us and our future colleagues to recoup profits as
quickly as possible and value better performance.

10. References
WebstaurantStore, 2018. Types Of Restaurant Ownership Structures. [online] WebstaurantStore.
Available at: <https://www.webstaurantstore.com/article/79/restaurant-legal-structure.html>
[Accessed 24 June 2020].
Thurrock Magazine, 2020. Gray's Masterplan. [online] Thurrockmagazine.com. Available at:
<http://www.thurrockmagazine.com/site/241?fbclid=IwAR3-
bYDb2nEVwvX1Geg62O58DWvdsMtzzCD3KUfikF7nWAQNMvE1wxrvxjI> [Accessed 24
June 2020].
Falk, N., 2020. Turning The Tide The Renaissance Of The Urban Waterfront. [online]
Urbed.coop. Available at: <http://urbed.coop/sites/default/files/Turning%20the%20tide-
%20urban%20waterfront%20final%20report.pdf> [Accessed 24 June 2020].
Masset, P., 2019. 2019 Top Hospitality Industry Trends. [online] Hospitalityinsights.ehl.edu.
Available at: <https://hospitalityinsights.ehl.edu/2019-top-hospitality-trends> [Accessed 24 June
2020].
Burns, P., 2018. New Venture Creation. 2nd ed. London: Palgrave Macmillan.
Bolton, W. and Thompson, J., 2004. Entrepreneurs. Amsterdam: Elsevier/Butterworth-
Heinemann