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Entrepreneurial Development Assignment (Solved)

Added on - 22 Nov 2020

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Development
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Section 1: Introduction of idea and proposed development.........................................................1Section 2: Opportunity formulation.............................................................................................2Section 3: Opportunity development...........................................................................................6Section 4: Conclusion..................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONEntrepreneurship is an art which is used by entrepreneurs to analyse market and createinnovative ideas to establish a successful business (Entrepreneurship,2019). Now a days variousnew businesses are launching in the market with the help of entrepreneurial development inwhich individuals analyse market and the issues. Afterwards form effective solutions to resolvethe same. It is a process which involves creativeness and uniqueness and helps to improveknowledge and skills of individuals by providing them proper training. Main objective of thisprocess is to enhance number of entrepreneurs. People with creative mind analyse market andidentify problems then find solution for the issues and formulate a business idea. This projectreport is based upon a Roehampton assignment in which we had to develop a new businessopportunity as part of a group presentation done in class. Our business opportunity is concernedwith the introduction of new perfumes in market targeting people with perfumes intolerance,people suffering from asthma, or just anyone that would like to avoid using harsh chemicals usedin most existing perfumes in the market.This report covers various topics such as new business idea and its proposeddevelopment, formulation of new idea and its perceived uniqueness, opportunity developmentwith the help of development pathway etc.MAIN BODYSection 1: Introduction of idea and proposed developmentAs part of an assignment for entrepreneurial development I had to work in a group todevelop a business opportunity. Me and my team did a ppt presentation in class and from that ihad to make an assignment based on the business opportunity found. One of my team memberscame up with the idea of a perfume to target everyone that cannot used the normal perfumesavailable in the market. The new business idea is covering requirements of them and thecompany has planned to launch daring fragrance plain-woven with rose, lavender and jasmineflowers, ginger with particles if gold and diamond. All of them are going to have spicy, sensualand floral fragrance which will attract people who do not use perfumes with harsh chemicals. Ithas been planned by organisation that three different perfumes will be introduced and all of themcan be mixed and used separately. It is a unique feature of the business idea which is going to belaunched in the market very soon. Most attractive feature of new perfumes is that it can be used1
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