This report discusses the entrepreneurship and success of OLIO application, its values and benefits to the local economy, and its wider impact on commerce.
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Table of Contents INTRODUCTION......................................................................................................................3 MAIN BODY.............................................................................................................................3 Were they set up by ‘entrepreneurs’ or are they owned by ‘owner- managers......................3 Discuss if they successful or not............................................................................................3 What are their values/benefits to the local economy.............................................................4 What is their value/benefits in the wider picture of commerce.............................................5 CONCLUSION..........................................................................................................................5 REFERENCES...........................................................................................................................6 Books and journals.................................................................................................................6
INTRODUCTION Entrepreneurship can be defined as an ability of an individual to start a new and innovative business within the current market situation for increasing the profitability and bringing productivity within the organisation by the help of improvement in the same product or launching a new product with some new innovation and technology. In this report audio will be considered as the main focus organisation(Schaltegger, Lüdeke-Freund and Hansen, 2016). OLIO is a mobile application as well as a organisation which provide the food sharing which the main aim is to reduce the food wastage within the UK.it have a contract with different food retailer restaurant corporate canteens food photographs as well as some big organisations like Tesco, Morrison andSainsbury'swhere OLIO plant in the online food bank to donate the food and reduce the wastage of food.in this report there will be discussion about what are the steps which are taken by the entrepreneurs of the organisation there is also a discussion about the success of the application and organisation the values and benefits which provide to the local economy and the commerce(Rezaei-Moghaddam and Izadi, 2019). MAIN BODY Were they set up by ‘entrepreneurs’ or are they owned by ‘owner- managers OLIO isfirst launched in year 2015 byTessa Clarke and SAASHA Celestial-One. Company get success in and operation as in October 2017 the company has raised about 2.2 million in its funding. Company serious about its operation and it is completely operated by its entrepreneurTessa Clarke and SAASHA Celestial-Onecurrently operating with their app which have more than 1.2 million registered users and donors to help in managing the wastageoffoodproductsnearthesociety.Companyiscompletelyoperatedbythe entrepreneurs because they have proper leadership as well as management skills which help company in achieving that platform which day wants to(Julien, 2018). There are number of opportunities in front of both of the entrepreneurs which degree properly identify the technological means as well as using their skills and ability to make the app reachable for every individual as well as bring the concept of reducing the wastage of food products within UK economy for saving economy as well as providing benefits to poor who can't reach to food easily.
Discuss if they successful or not It is a successful company which can be seen from its performance as company raise 2.2 million within one year which is the huge amount for a new start up. There are various reasons behind the success of the company. Some of these reasons are mentioned below: Style of leadership: entrepreneurs of the company adopt the perfect leadership style within theOLIOwhich directly helps for in increasing the motivation of the employees as wellasattractingnumberofcustomerbecauseofproductivitywithintheworking environment. they always follow the transformational leadership style where did continue change is the process and functions within the organisation and bring new and innovative ideas which help company in managing its business as well as identify the different opportunities for social welfare. Effective management:OLIOhas an effective management system within the organisation where they follow different structure and rules of management theories for enabling the active working. The general rules like division of work unity of command and many more are followed within the organisation where there is no delay in supply of information as well as effective use of different techniques. Reduce the wastage of resources and implements the function in a proper manner(Radović-Marković and Tomaš , 2019). Proper use of skills and abilities: there is one more reason for success of theOLIO is that they use their abilities and skills in an effective manner. For this both the entrepreneurs always focus on effective training and development of each and every employee regarding the application where they can easily support the technical as well as working factors of the application and organisation for achieving their objectives. What are their values/benefits to the local economy This application of number of benefits and values which are provided to the local economy some of these are mentioned below: Reduction in wastage of food: the main motive of theOLIO applicationis to reduce the food wastage and increase the consumption of food within the economy. These motivates directly related to the values in the society as well as profitable for the economy as reduction in food wastage will in save the resources of the economy and provide benefits to the society (Rantšo, 2016).
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Motivate others: this applicationOLIOwill also motivate the other peoples to save the food and provide it to the needy people who cannot afford the good food because of monetary or non-monetary reasons. This will improve the conditions and values within the society that saving food is good and effective way for successful operations of the society. Savethe resources: it is important for the society of UK and economy because it saves their resources. According to the data presented by UK government more than 20 million worth of food is wasted within the whole UK.OLIOcan be saved and used for providing food to the necessary peoples. This app is doing so which also support the economy of nation(Nzewi, Onwuka and Onyesom, 2017). What is their value/benefits in the wider picture of commerce If it is talk about the commerce related activities within the UK thenOLIOapplication have a proper markets and important value within the economy. Commerce can learn different things from this application as it has it as well as on the profit it. This type of commerce and help identify that by fulfilling the corporate social responsibility there are number of scope for the organisation to increase its profit as well as brand(Burns, 2016). ThisOLIOapplication receives the huge response within the whole UK which can be seen from the funding of this app which rose to 6 million within a year which is the amount for start-up. commerce can also land activity related to matching and time with different organisation where this application have different tyre with supermarket giants like Tesco, Sainsbury, Morrison and many more. CONCLUSION It can be concluded from the above mentioned report in that the tuition business is developingcontinuouslyandincreasingitsmarketsharewithinUKbecauseofthe entrepreneurship done by both the entrepreneurs. There are number of values and benefits which are given by this application to local economy and the society. Various factors which must be concluded by this application but it is doing well within full UK.
REFERENCES Books and journals Burns, P., 2016.Entrepreneurship and small business. Palgrave Macmillan Limited. Julien, P.A. ed., 2018.The state of the art in small business and entrepreneurship. Routledge. Nzewi, H.N., Onwuka, E.M. and Onyesom, M., 2017. Entrepreneurship evolution and the growth of small scale businesses in Nigeria.Journal of business and economic development,2(3), pp.176-181. Radović-Marković, M. and Tomaš, R., 2019.Globalization and entrepreneurship in small countries. Routledge. Rantšo, T.A., 2016. The role of infrastructure, markets and government support in the success of small scale enterprises in Lesotho.International Journal of Entrepreneurship and Small Business,27(1), pp.108-130. Rezaei-Moghaddam, K. and Izadi, H., 2019. Entrepreneurship in small agricultural quick- impactenterprisesinIran:Developmentofanindex,effectivefactorsand obstacles.Journal of Global Entrepreneurship Research,9(1), p.17. Schaltegger,S.,Lüdeke-Freund,F.andHansen,E.G.,2016.Businessmodelsfor sustainability:Aco-evolutionaryanalysisofsustainableentrepreneurship, innovation, and transformation.Organization & Environment,29(3), pp.264-289.