Assignment about What is Entrepreneurship?

Running head: ENTREPRENEURSHIP
ENTREPRENEURSHIP
Name of the Student
Name of the University
Author Note

ENTREPRENEURSHIP1
Executive Summary
Entrepreneurship can be considered to be a branch of management whereby an individual
identifies a particular problem which exists in the environment and in relation to this they are
able to come up with a solution for the problem. Therefore, the focus of the report lies on to
develop a business idea and test the overall viability of the business plan by assessing the
external environment of the businesses and related internal capabilities.

ENTREPRENEURSHIP2
Table of Contents
Introduction......................................................................................................................................3
Problems in the current environment...............................................................................................3
Justification for the same.............................................................................................................4
Pain points and Target market.........................................................................................................4
Market and potential customers.......................................................................................................4
Entrepreneurial idea.........................................................................................................................5
Viability of the idea......................................................................................................................5
Value propositions...........................................................................................................................6
Justification..................................................................................................................................6
Critical assumptions about pain points............................................................................................6
Justification..................................................................................................................................7
Target customers..............................................................................................................................7
Justification..................................................................................................................................7
Tools and resources required...........................................................................................................8
Contextual Factors...........................................................................................................................8
Competitive advantage....................................................................................................................9
Personal motivation and discovery of idea......................................................................................9
Opportunity cost............................................................................................................................10
Conclusion.....................................................................................................................................10
References......................................................................................................................................11
Videos reviewed............................................................................................................................12
Business Idea Critical Evaluation..................................................................................................13

ENTREPRENEURSHIP3
Introduction
The business environment can be understood to be fairly dynamic in nature and it is with
respect to this, that it becomes considerably crucial for any business as present in this dynamic
environment, that it is successfully able to engage in a long term relationship with the different
customers and find a spot which would assist them in gaining long term success (Barringer
2015). Hence, the report will be based on a new business idea based in Australia which will
assist in ensuring that the firm is being able to perform considerably well. The business idea and
related overall development will be based on the problem which lies in the current business
environment and then based on this, the solutions for the overall success for the business will be
provided.
The report follows a systematic format on the basis of which the overall problems and
gaps which lie in the business environment will be discussed along with the pain points of the
Target market. The entrepreneurial idea shall be discussed which shall assist in understanding the
key value propositions of the idea and based on this, the personal motivation why the idea has
been taken up shall also be discussed critically.