Case Study on Entrepreneurship PDF
Added on -2020-07-22
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Entrepreneurship -context, process andpractice
Table of ContentsINTRODUCTION...........................................................................................................................3GOAL 1...........................................................................................................................................31.1 Awareness of personal strengths and weaknesses and the ability to engage in continuingself-development ...................................................................................................................31.2 Development of inter-personal and intra-personal skills..................................................51.3 Competence in contemporary analytical and ICT applications........................................6GOAL 2...........................................................................................................................................62.1 Ability to work in culturally diverse groups and teams and make appropriate an personalcontribution to team effectiveness..........................................................................................62.2 Reflect on their own ethical values.................................................................................72.3 Wider impact of individual or organizational decision making on social and environmentalcontexts. .................................................................................................................................8GOAL 3...........................................................................................................................................93.1 Analyse and communicate complex issues effectively....................................................93.2 decision making, problem solving and project management skills................................10GOAL 4.........................................................................................................................................104.1 Knowledge of international business, management and organisational functions........104.2 Demonstrate a understanding of the impact of innovative and contemporary research onthe business and management community...........................................................................114.3 Acquire , interpret and apply specialist functional knowledge in relation to theirprogramme of study (specialists programmes only)............................................................12GOAL 5.........................................................................................................................................125.1 Major piece of research on a contemporary business, financial and leadership topic. . .125.2 Skills of analysis and synthesis in the application of research methods to deal with issues..............................................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES .............................................................................................................................15
INTRODUCTIONEntrepreneurship refer to the term is related to imagining new methods or ways to createvalues and solve problem. Entrepreneurship can be defined as as a concept of managing anddeveloping a business venture in regard of gaining benefits through taking numerous risks in thebusiness world. An entrepreneur is the person or individual who beside working as an worker,runs a business understanding whole failure or success risk in the company. These are theessential part of a nation's economy in which there is a process which one follows for start anentrepreneurial venture i.e. creating a plan for business, employ labour and at last finance andmanagement of business plan (Kuratko, 2016). This is a constant procedure which require to becomplied through an entrepreneur to plan as well as establish the new entrepreneurial venturemore efficiently. The industry of beauty and salon is growing and expanding more rapidly fromthe early years. As I am a students and about to complete my post graduation degree in businessand entrepreneurship field. In order to peruse my knowledge, I am planning to start a newentrepreneurial ventures in Business and Beauty sector. This report will present a business plansand represents the individual learning of idea planning along with reflection of the person on thebasis of their entrepreneurial experiences. I want to achieve the determined objectives and aimsin my selected business plan to meet the new heights of achievement along with acknowledgemy studies. GOAL 11.1 Awareness of personal strengths and weaknesses and the ability to engage in continuing self-development Ideation of Plan: As the beauty industry is increasing each and every day, it has strokedmy mind with an idea to start a new entrepreneurial venture within the beauty and saloon sector.Hence, understanding these aspects, I have arranged various required resource, analysed marketand accumulated information and undertaken other required steps. Hence, there were variousaspects that a were left to analyse such as examining one's strengths and weaknesses.This is paramount to evaluate own weakness and strengths in order to meet thedetermined outcome and carrier goals in ideal way. Thus, for self-development and propermanagement, I need to manage my own skills and abilities along with drawbacks which can helpin in improving and evolving. I have examined several issues and conflicts that is refraining my3
growth along with several activities which support my activities and help me achieving my settarget. Strengths and Weakness One of my major strength is my knowledge and better experience in both beauty andbusiness sector which reduce the chance of failure in the entrepreneurial business which I havestarted. My enterprise is offering better services in cost effective price which is USP of companyleading organisation to more consumer (Moroz and Hindle, 2012). The other strength of mine isdeterminant personality which is essential while leading the employee and making the requireddecisions. The major strengths which is building me stronger is my effective decision-makingskills which assist in undertaking essential and rational decision linked with enterprise decisions.This has helped me in determining the major products of SHADES AND SKINN as well asvarious strategies which can help in meeting the desired outcome of this entrepreneurial venture. There are various drawback of mine which limit the my skills as well as affect over mybusiness operations as well (Shaw and de Bruin, 2013). The biggest weakness of mine is lack offinancial resource which I need to manage from different sponsors or investor in order to meetthe target of organisation. The second biggest drawback of mine is not having proper timemanagement skills which sometimes let me down. This draws me back while achieving theheights of success. I need to improve my time managing skills and be more discipline in order togain success in my new entrepreneurial saloon SHADES AND SKINN. Though the assistance of strength and weakness analysis, I can manage properdevelopment of myself along with recording my achievement of target and goals linked withcompany. It can help me in developing in effective manner as well as support me with newexperience which have been helped for my new saloon enterprise SHADES AND SKINN indeveloping in the competitive industry. Market Research: It can be referred as the analysing, accumulating and interpretinginformation in regard of market in context of services and products to be offered for the marketsales and about present, previous and potential consumer for the services and products. I haveattempted proper market research and different practices for this report in order to understandand analyse the various aspects of beauty and skin sector and techniques that can be optimisewhich can help in establishment and development of my business. 4
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