BM564 Enterprise and Entrepreneurship: Proposed Business Idea and Strategies

BM564 ENTERPRISE AND
ENTREPRENEURSHIP

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Proposed future business.............................................................................................................3
Customers....................................................................................................................................3
Competitors.................................................................................................................................4
Skills analysis..............................................................................................................................4
Projected 2 years’ profit and loss account and cash flow forecasts including break even..........4
Finding, evaluating and selecting suitable source of funding.....................................................6
Break-down of start-up costs......................................................................................................6
Type of company and management information systems...........................................................7
Vision for business idea..............................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Enterprise refers to a company or venture, that establish in a specific industry in effective
manner and plan to sustain forever in productive way. While, entrepreneurship is defined an
individual’s capability, which enable them to run and manage an organization or enterprise that
in turn provide them varied benefits. The current assignment will be based on specific proposed
business idea that is delight. This idea drives the attention management toward offering day and
night delicious food services to customers. The study will define proposed further venture,
customers, rivals, skills analysis, cash flow forecasts, source of funding and breakdown of start-
up costs. Furthermore, the report will also specify the form of company and management
information systems along with vision for venture idea.
TASK
Proposed future business
Delight attempts to offer online and offline food services to customers, which contribute to
increase its profitability and productivity (Yost and Cheng, 2021). According to this new
business idea, entrepreneur efforts to set up a small section of their house as business outlet,
where customers reaches easily and place their food order according to choice. It is the place
where they order range of food items and also order online. The current business idea brings
specific innovation to market, in term of providing customers chance to watch live cooking
process, during which they can give their directions to add some of their favourite ingredients,
which were never happened before. In order to protect chosen business idea, it is important for
owner to select specific intellectual property right tool, such as patent, copyright, trade mark, etc.
They use trademark to make their food recipes protected from others.
Customers
For new business idea, entrepreneur take approach to select a group of customers. By
referring to STP model, they target all people’s along with some households (McDougal and
et.al., 2021). They use business to customer concept and move ahead with that, which enable
them to build trustworthy relation with target audience. Households and other peoples are
considered as end users, who uses food delivery services of delight as a new venture idea. They
are able to buy this service and take pleasure of the same. The services that organization attempt
to offer to individual customer will have some essence that make that valuable and even better