Entrepreneurship and Business Development: A Case Study of Beauty Organic Hub in London

ENTERPRENEURSHIP
AND BUSINESS
DEVELOPMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Outline the new venture concept ................................................................................................3
Conduct and competitive and STP analysis to evaluate the opportunity gap.............................4
Business model and new venture will work................................................................................5
Analysing strategies should entrepreneurs follow to find success..............................................8
Explaining quantitative and qualitative planning tools that entrepreneurs could use to assess
and mitigate their risks..............................................................................................................10
What are the common mistakes that first time entrepreneurs make? .......................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Business plan is consists of written document which comprise of core business activities
and objectives that help to meet the defined aim. The entire project helps to shed a light upon
different tools and techniques used to meet the business plan that assist to acquire new business
skills. The new business plan is related to opening an organic beauty store in London to meet the
requirement of females. For that the report will outline the new venture and also conduct
competitive and STP analysis that help to evaluate the opportunity gap. In addition to this, study
also use concept to identify how new venture will work and describe marketing strategies should
entrepreneur use. Along with this, it describes the qualitative and quantitative planning tools that
an entrepreneur could use to mitigate their risk.
Outline the new venture concept
The new venture concept is related to new organic beauty store in London where
company offers all type of beauty product to their customers so that effective results are
generated in term of financial performance. The name of a company is ‘Beauty Organic Hub’
whose main purpose is to meet the demand of females by offering customized beauty products.
In this, company will develop its store by analyzing the need of customers so that effective
product with different range of prices are offered to their customers (Usry Abdullah, 2019). In
addition to this, the relationship between innovation and entrepreneurship is such that innovation
is all about creating something new whereas entrepreneurship determine the opportunities in
innovation and then create opportunity so that business can use the same to improve the brand
image.
Moreover, entrepreneurship is all about applying innovation to bring the ideas into reality
that create an opportunity to company so that the brand image of a firm can established. Also, it
has been identified that through innovation, company keep move ahead and derive better results
in term of customer satisfaction and financial performance. With the strong relationship between
innovation and entrepreneurship, company is able to gain a high competitive advantage and
brings sustainability in its business. That is why, companies and quoted business need to focus
upon innovation that assists to create a better outcome.
Vision: To be a first choice and preferred supplier of top quality of beauty product
Mission: To offer the best variety of product to their customers and satisfy the need as well.

Rationale: The reason of choosing this business over other is such that people are more aware
with regard to harmful effect of artificial ingredients used in beauty product. This in turn affect
their skin and that is why, people shift towards herbal beauty products. In 2020, the revenue
gains from such product reflected that it was amounted to around 221 million British pound
(Natural and organic cosmetics in the United Kingdom (UK) - Statistics & Facts, 2020). Almost
all the top company are also focused upon this such as Lush also sell green products to their
customer,
Conduct and competitive and STP analysis to evaluate the opportunity gap
Competitive advantage:
Particulars Beauty Organic Hub O4U Organic beauty
shop
London Organic
Beauty
Product It offer customized
organic beauty product
which include
moisturizer, Sun cream,
Facepower, Primer, Liner
and many more.
It offer online organic
beauty product to their
customer such that skin
care cream, makeup
removal, cream and
powder.
It uses effective face
care product at online
mode which includes
primer, foundation,
Moisture creams, tan
removing cream and
other make-up item
completely include
organic ingredients.
Price The price of the product
should be cost effective
and that is why, it uses
low price product
strategy in which
company offer product at
low rate initially
(Bismala, Andriany and
Siregar, 2020).
It uses penetration
pricing strategy that
helps a company to
attract customers
towards it. It is actually
involve low price of
product so that
competitive advantage
gain.
It uses competitive
pricing strategy in
which the price of
product changes after
identify the pricing
strategy of a rivals.
Promotion It uses only modern form
of promotional tool. In
this, social media
marketing is used where
Facebook, Twitter used.
Also, the company will
use influencer that help
to attract customers.
It uses both traditional
and modern form of
marketing where
company let people
know about new offers
and discount. This
further involves use of
newspaper, magazine
and different tools.
It uses only modern
form of marketing that
involves digital
marketing tool and SEO
that help to grab
attention of many
customers.
USP It’s customized product
is considered as a USP of
a company in which it
The company’s USP is
its discount strategy that
help to improve the
The USP of Beauty
Organic Hub is to offer
high quality of product