E LEARNO: Entrepreneurship and Business Development Report

This report provides a comprehensive analysis of E LEARNO, an online education platform designed to provide educational services. It begins with a rationale for the business, highlighting the impact of COVID-19 on education and the need for accessible online learning solutions. The report then delves into the competitive advantages of E LEARNO, using Porter's Five Forces model to assess the competitive landscape and identify strengths. The report details the STP (Segmentation, Targeting, and Positioning) strategy used to identify and reach the target market, followed by an examination of market growth strategies, including product and market development. Furthermore, the report outlines the resources required for the business, including financial resources and human resources. A risk analysis is conducted, identifying potential risks and proposing mitigation strategies. The report concludes with a discussion of the overall business plan, offering valuable insights into E LEARNO's potential for success in the online education market.

Entrepreneurship and
Business Development
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Table of Contents
Rationale for business......................................................................................................................3
Competitive advantage....................................................................................................................3
STP..................................................................................................................................................4
Market growth strategy....................................................................................................................5
Resources.........................................................................................................................................6
Risk analysis....................................................................................................................................6
REFERENCES..............................................................................................................................10
APPENDIX....................................................................................................................................11
Pest analysis...................................................................................................................................11
Marketing mix...............................................................................................................................12
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Rationale for business
Due to COVID-19, that has been lock down imposed in many countries which has resulted
in closing of schools college universities etc. Therefore it is highly affected the education as well
as career of students. also there is no other substitute to provide education services to them. so
with help of online education app the students can easily attend lectures and classes. this will
help them to resume their education and career (Apostolakos, 2019). So the main purpose of E
LEARNO is to provide online education services to student so that they can continue it.
Moreover they will not need to go to University or college to attend lecture. So it provide an easy
way to teach students. there will be many professors linked with app by which they can take
online lecture and classes. Student will also be having option to attend class which they want and
ask doubts to teachers. They can also take one on one classes.
Mission to make it easy for students as well as teachers to engaging educational services.
Vision to provide education to all at low cost
Competitive advantage
It is important to evaluate the competitor analysis so that it can be identified who are the
competitors, how much attractiveness market is having, etc. (Faghih, 2019) therefore, there is a
model available to do it. Porter 5 force model is a framework which helps in doing market
analysis. Also it helps in determining competitive intensity and position of business in the
market. Likewise, E LEARNO has done this analysis which is mentioned as below
Bargaining power of supplier it refers to the power through which suppliers are able to drive the
prices. If there are more suppliers then company will find it easy to switch from one supplier to
another. but in education sector there are no suppliers which provide online education services.
So here the bargaining power of suppliers less (Colclasure, 2020).
Power of customer it refers to the power through which customer are able to drive the prices. If
there are more customers then company can easily drive its prices ask customer will be able to
switch from one company to another easily. on contrary if there are few customers then they
possess high power to drive price. in education sector there are large number of customers so E
LEARNO can easily drive prices. Thus, power of customer is high (Li, and et.al., 2019).
Competitive rivalry it refers to the number of rivals which exist in the industry. If there are more
competitors than competitive rivalry is high but if competitors are less then rivalry is low. in
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education sector there are not many rivals which provide online services to students. so power of
competitive rivalry is moderate.
Threat of new entry it means that how easily a new business can enter in market. so in education
sector there are no entry and exit barriers so new companies can easily enter in this.
Hence, threat of new entry is high (King, and et.al., 2020).
Threat of substitute it means that how many product or services can be used as substitute. This
leads to switching off customers from one product to another to fulfill their needs. It reduces
power of Suppliers and market attractiveness. in education sector, there are no substitute
available. Thus, the power of threat of substitute is low (Zgheib, 2017).
E Learno will be successful in market because it will provide education services directly
to students and there will be no suppliers. Besides that, there are not so many companies which
exists in education sector with same concept. Thus, competition is low as well and so E Learno
can easily compete with them and be successful as well. in addition, there are no substitutes
available through which education services can be accessed. Therefore, it will result in enable
student to use the App. Furthermore, company will provide membership at low prices so it is
also reason by which they will be successful in market (Li, 2020).
STP
It is necessary for E LEARNO to identify their target market so that services are deliver to
specific customers. this will enable them to be successful in future and gain competitive
advantage in sector. so for that STP model is used which enable in finding out target market. it is
as follows (Anim-Yeboah, and et.al., 2020)
Segmentation
Segmentation this is the first step in it where the entire population is segmented on basis of
several criteria that is demographic geographic psychographic etc. in demographic it is based on
class gender class etc. in geographic it is based on location or area, in psychographic it is based
on attitude behavior etc. Thus, E LEARNO will do segmentation on basis of demographic in
which they will target as education (Svetlova, and et.al., 2020).
Targeting
Targeting after segmentation is being done that targeting is done to find out the target market.
this also helps in finding out this particular target people within population. This is done to
further segregate and find out target market by breaking down population. Therefore, E
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LEARNO will target students who are going to universities or colleges to learn. They will also
target those who are giving some exams as well (Machmud, 2017).
Positioning
Positioning it is the third step in STP where product or services position in the market to attract
customers. Position is necessary as it helps in differentiating service from competitors. there are
many ways of positioning which can be applied. so here E LEARNO will position it’s services
by creating image of high quality and low cost. With that they will be able to Target student and
provide them services. Besides, brand image will be created in mind of people by offering
options for various lectures and professors (Tamarit Marzo, 2020).
Market growth strategy
It is necessary for E LEARNO to develop an effective market group strategy so that they are able
to grow and expand in different markets. the strategy also give them insight about what to do to
expand. For that there are various models and concepts which can be applied by company. So
here they will use Ansoft growth metrics for market growth strategy (Fairlie, and et.al., 2018). it
is explained as below
Product development it is a market growth strategy in which the company expand in existing
market by developing new product. They identify needs of people an accordingly developed
new product. Besides that, changes are made in product design or new features are included.
Market development it is a strategy in which the company expanding new market with existing
product. they do market research and analysis to find out market needs. this enables them to
attract more customers and generate high revenue in sales (Zhamoitsina, and et.al., 2018).
Market penetration in this strategy the company focus on existing market with existing product.
they try to build and increase customer base in existing market. For that attractive promotion of
products and service is done to attract more people (Kosheleva, and et.al 2020).
Diversification it is the most risky strategy as business expanding new market with new product.
This is done to create awareness and generate high revenue in sales by entering in new market.
This strategy may fail ask companies not having any experience to operate in new market
(Villanueva,. and et.al., 2020).
Therefore E LEARNO will opt market development strategy to growing education sector. they
will find out new emerging markets in which education app and services can be provided to
people. Besides that it will help E LEARNO to attract large number of students by entering in
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new markets such as India, also, As the service is new so market development strategy will be
suitable and feasible for E LEARNO (Belitski,, and et.al., 2019).
Resources
In order to implement the business idea there are various resources which is required in it. the
resources depends on nature and type of business that is being started. besides that it is necessary
to identify resources so that business can be launched. Apart from it, the source of finance must
be identified so that it is easy to acquire funds for business. as there are various sources of
finance available so it is necessary to choose proper one. Similarly, for starting E LEARNO
sources of finance are as below (Suyatmi, and et.al , 2017)
Bank loan it is the most common source of finance in which loan is taken from bank at low
interest rate for a fixed time. But here security needs to be deposited against loan taken. Also, the
process is highly time consuming as it requires documentation to be done.
For starting E LEARNO the source of finance that is being taken is from investor. it is because
the idea was unique so funds was easily acquired from them. Apart from it, acquiring funds was
easy from them as there were many Angel investors who are highly interested in investing in this
idea. For that an agreement was signed in which certain percentage of stake has to be given to
investors (Wańkowicz, 2019).
Besides that, there are various other resources as well which will be required in business
plan. they are defined as
HR- human resource will be required in order to perform various business operations. Besides
that, they will be staff of E Learno as well.
Technological equipments- there are many technological tools and software which will be
required for developing App and maintaining other IT infra. Along with it, for network
connection as well various equipments will be required. The computer system and laptop is
needed (Schaltegger, and et.al., 2019).
Office – the office will be required to perform all operations of E Learno. in that furniture and
other equipments will also be required.
Risk analysis
There are several risks which can arise in E LEARNO. So these risks need to be identified
so that its impact can be mitigated and business runs in smooth way. Alongside, the relevant
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measures and actions are taken to control risk. for that a risk analysis is done in which various
risk are identified and strategies is developed. it is as below
stage one identify hazards it is the first stage where the various risk which can occur is
identified. the risk may be either financial, legal, human resource etc. (Wańkowicz, 2019 )
Stage 2 who may be harmed and how in this stage it is determined that due to risk who will be
harmed and how. for instant, due to financial risk business growth will be harmed as no funds
will be available to continue operations (Umrani, , 2016).
Stage 3 access risk and take action in this stage the probability of occurrence of risk is identified
along with its impact. this enable in deciding that risk is high medium or low. so on basis of that
strategies are developed.
Stage 4 record findings this is stage where the risk assessment is prepared in which all details
and information is included. the actions, measures, roles and responsibilities, etc all is included
in it.
stage 5 review risk assessment in this state the overall risk assessment developed is reviewed to
ensure that all details and information regarding risk is properly included in it (King, and et.al.,
2020).
In similar way, E LEARNO risk analysis is done to mitigate impact of risk by taking
certain measures and actions. It is as follows
Risk Impact Probability Measures
Failure of business it will highly impact on
overall business success
5 proper market
analysis needs to be
done to find out needs
of people and who are
competitors and how
much is market
attractiveness, etc
(Guerrero, and et.al .,
2019)
Lack of finance It will affect on
business operations and
4 That is need to
prepare proper budget
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implementation of
strategy.
and allocate resources
any effective way.
also by keeping a
backup of funds risk
can be treated
(Porfírio, and et.al ,
2020).
Technical errors this will affect on
delivering of services
two people and on
business operations as
well (Li, 2020)
3 The happen overall
right infrastructure
must be tested so that
arrows are identified
insult immediately.
also there must be
proper maintenance
of IT infra
Insufficient resources This will impact on
operations and growth
strategy and delivering
of services (Audretsch,
and et.al., 2019)
2 Here, all resources
must be allocated in
efficient way and
utilized properly.
besides that
monitoring of
resources can be done
(Svetlova, and et.al.,
2020).
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REFERENCES
Books and journals
Anim-Yeboah, S. and et.al., 2020, April. Digital Entrepreneurship in Business Enterprises: A
Systematic Review. In Conference on e-Business, e-Services and e-Society (pp. 192-203).
Springer, Cham.
Apostolakos, E., 2019. Business plan for the development of a Self-Storage facility in the area of
Thessaloniki.
Audretsch, D.B., and et.al., 2019. National business regulations and city entrepreneurship in
Europe: A multilevel nested analysis. Entrepreneurship theory and practice, 43(6),
pp.1148-1165.
Belitski, M., and et.al., 2019. Knowledge frontiers and boundaries in entrepreneurship
research. Small Business Economics, pp.1-11.
Chell, E., and et.al., 2016. Social entrepreneurship and business ethics: Does social equal
ethical?. Journal of business ethics, 133(4), pp.619-625.
Colclasure, M., 2020. The Importance of Business Plan Proficiency to Business School
Graduates (Doctoral dissertation, Liberty University).
Faghih, N., 2019. An Introduction to: Globalization and Development—Entrepreneurship,
Innovation, Business and Policy Insights from Asia and Africa. In Globalization and
Development (pp. 1-10). Springer, Cham.
Fairlie, R.W. and et.al., 2018. Opportunity versus necessity entrepreneurship: Two components
of business creation.
Guerrero, M. and et.al ., 2020. Does entrepreneurship ecosystem influence business re-entries
after failure?. International Entrepreneurship and Management Journal, pp.1-17.
Ikebuaku, K. and et.al., 2018. Beyond entrepreneurship education: business incubation and
entrepreneurial capabilities. Journal of Entrepreneurship in Emerging Economies.
King, E.M., and et.al., 2020. A Business Plan for The Fitzgerald Institute.
Kosheleva, T.N., and et.al 2019. Development of customer motivation system in the field of
entrepreneurship: Travel business. Journal of Advanced Research in Dynamical and
Control Systems, 11(11 Special Issue), pp.82-89.
Li, C., and et.al., 2019. Induction of business incubation centers in educational institutions: An
effective approach to foster entrepreneurship. Journal of Entrepreneurship
Education, 22(1), pp.1-12.
Li, Y., 2020. Business Plan for Autonomous Delivery Robot. Intelligent Control and
Automation, 11(02), p.33.
Machmud, S., 2017. The Effect of Motivational Entrepreneurship on Business Performance of
SMEs Moderated by Process Innovation. Archives of Business Research, 5(8).
Mongelli, L. and et.al.,, 2017. Inequality and marginalisation: social innovation, social
entrepreneurship and business model innovation: The common thread of the DRUID
Summer Conference 2015. Industry and Innovation, 24(5), pp.446-467.
Ogbari, M.E., and et.al., 2016. Entrepreneurship and business ethics: Implications on corporate
performance. International Journal of Economics and Financial Issues, 6(3S), pp.50-58.
Porfírio, J.A., and et.al , 2020. Family business succession: Analysis of the drivers of success
based on entrepreneurship theory. Journal of Business Research, 115, pp.250-257.
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Richter, C., and et.al., 2017. Digital entrepreneurship: Innovative business models for the
sharing economy. Creativity and Innovation Management, 26(3), pp.300-310.
Schaltegger, S., and et.al., 2016. Business models for sustainability: A co-evolutionary analysis
of sustainable entrepreneurship, innovation, and transformation. Organization &
Environment, 29(3), pp.264-289.
Suyatmi, M.I., and et.al , 2017. Motivate students to information technology entrepreneurship
and business development. Advanced Science Letters.
Svetlova, M.V. and et.al., 2020, January. Business plan for managing secondary paper raw
material in Murmansk region. In IOP Conference Series: Earth and Environmental
Science (Vol. 421, No. 3, p. 032042). IOP Publishing.
Tamarit Marzo, R., 2020. Design of business plan for mobile application of musical events and
collaborations (Doctoral dissertation).
Tur-Porcar, A., and et.al., 2018. Factors affecting entrepreneurship and business
sustainability. Sustainability, 10(2), p.452.
Umrani, W.A., 2016. Moderating effect of organizational culture on the relationship between
corporate entrepreneurship and business performance in Pakistan's banking
sector (Doctoral dissertation, Universiti Utara Malaysia).
Umrani, W.A., and et.al., 2018. Corporate entrepreneurship and business performance. PSU
Research Review.
Villanueva, L.K.B., and et.al., 2020. Business Plan for Entrepreneurs, Actors and Organizations
of Social and Solidarity Economy based on Neutrosophic AHP-SWOT. Neutrosophic Sets
and Systems, 37, pp.224-234.
Wańkowicz, A., 2019. Developing a business plan for an accounting and financial services
company.
Zgheib, P.W. ed., 2017. Entrepreneurship and Business Innovation in the Middle East. IGI
Global.
Zhamoitsina, D.S. and et.al., 2018. THE ROLE OF AN INNOVATION IN
ENTREPRENEURSHIP AND BUSINESS. Вестник молодых ученых Санкт-
Петербургского государственного университета технологии и дизайна, (4),
pp.479-484.
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APPENDIX
Pest analysis
It is necessary to review education industry so that factors are identified which impact on
overall market. With that it becomes easy to find out viability of business idea. Thus, for that
macro analysis is done with help of pestle analysis. This is as follows :
Political - Political- in this there are those factors related to political stability, change in
government trade laws, etc. any change in this factor will highly impact on education sector. Due
to covid 19 many government has formed new laws regarding providing educational services.
Thus, colleges, universities, schools, etc are closed. So, E Learno is having opportunity to
operate in all nations easily and provide education services.
Economic- they are the factors such as GDP currency rate inflation etc. any change in this factor
affect on business growth. due to covid 19 entire global economic growth has declined. But
online education sector growth has increased. This is because of different apps developed that
offer online services to students. Hence, there exist vast growth opportunity in this sector.
Social- the factors are related to change in taste and preference needs etc of people. due to
COVID-19 now people have become more health conscious. Also, they are not preferring to go
to market. It has changed their needs. Moreover, all services are being delivered at home. Thus,
online education is highly preferred by them. the change in need is highly beneficial for E
Learno.
Technological- Technological it is related to advancement in technology. This factor highly
affect on business operations. Due to covid 19, technology is been highly used by people. It has
also led to development of new tools and software to fulfill needs of people and reach them. in
recent times, online educations apps are highly been used. Hence, E Learno can easily grow in
industry as way of providing education has changed (Tur-Porcar, and et.al., 2018).
Legal – the factor is related to health and safety, employment laws, etc. however, in E Learno as
services are delivered through app so all laws and regulations are followed. the changes made in
health and safety laws is to be adhered by sector.
Environmental- the factor consists of CSR practices, environment laws, etc to be followed. so,
there are no changes made into it. hence, it will not affect on education sector. however, in future
they will have to contribute by following several CSR practices.
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Marketing mix
Marketing mix is a framework or tactics that is used by company to promote their brand in the
market. This enables business to pursue their marketing strategy in effective way. Usually there
are 4 P's in it but sometimes 7 P used in it. similarly E LEARNO will also use marketing mix in
order to develop marketing strategy. it is as follows (Umrani, and et.al., 2018)
Product this P refers to what product and services are being sold in the market. so here the
product is educational app that is being delivered. Therefore, the main product of E LEARNO’s
educational services.
Price it is the most important P in marketing mix as success of business depends on what type of
pricing strategy which is being followed by company. it is necessary to set price of service asper
market analysis so that customers are able to buy. This year, E LEARNO will set price at low
cost and provide membership to students at low cost.
Place it refers to please where the company products and services are available in market. this
means that the location or area where organization is operating either through stores or online. so
E LEARNO services will be available online and there will be a registered office of company in
UK (Richter, and et.al., 2017).
Promotion this is also a significant B in marketing mix. it defines the tactics and ways through
which company will promoted products and services in the market. it is essential to promote and
effectively so that customers are attracted. also it helps in creating brand awareness in the
market. therefore E LEARNO will promote with help of digital marketing and social media. they
will use social sites such as Facebook Instagram Twitter etc. and promote their app. Moreover
they use YouTube and upload videos of their app and services.
People In this P it refers to the staff or employees of company who are engaged in performing
operations and delivering products and services to people in the market. So here the people of E
LEARNO will be their staff , professors lecturers, etc who will deliver educational services to
students through app.
Physical evidence it refers to the physical existence of company in market. This enables people
to identify company easily. so E LEARNO physical evidence will be its education app, logo,
registered office, etc.
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