Enterprise and Entrepreneurship: Business Model, Competence, Objectives, PESTLE, Competition, Product, Marketing, Sales, Financial Projections

This presentation provides an overview of enterprise and entrepreneurship, focusing on various aspects such as business models, competence of entrepreneurial teams, SMART objectives, PESTLE factors, competition, product, marketing strategies, sales and operations, sales forecast, and financial projections. It discusses the importance of effective planning, market segmentation, and the challenges and opportunities faced by entrepreneurs in the current business environment. The presentation also highlights the strengths, weaknesses, opportunities, and threats associated with starting a new business venture.

Enterprise and
Entrepreneurship

Table of Content
 Introduction
 Concept of business model
 Competence of entrepreneurial team
 SMART Objectives
 PESTLE factors
 Competition
 Product

Table of Content
 Marketing the business
 Sales and operations
 Sales forecast
 Financial projections
 Strength and risk of businesses
 Closing Summary
 References

Introduction
Enterprise is undertaken as the process by which new businesses are developed in terms of offer new products
and services in market area. Moreover, entrepreneurs are those individuals who start new business and also
take risk which is associated with that particular business. It depicts the significant business plan which is the
prominent road map in order to manage and operate business effectively. For this, management of company
need to analyse the overall business performance and significant goals. Furthermore, the plan is formulated
by individual or entrepreneur which should be up to date and also helps in terms of effective operations and
increase overall performance. The significant report is based on the business idea of freshly established
company named Delicious Food Truck who offer best quality food with wide variety. Hence, the report
covers the summary of business model, competence of entrepreneurial, objectives, market, competition,
product, segmentation, sales and operations and so on that arises in business activities.

Concept of business model
Business models are the modes through which company is operating or going to operate in future. For
the new business idea and entrepreneurship the business model which the entrepreneurs will be
using is of Advertisement and Crowd-sourcing These are the two business model which the
entrepreneur will be using for operations form which one belongs to marketing function and the
other to finance unit. Both the business models will support the entrepreneurial idea and enabling
in effective marketing and resourceful fund raising actions being undertaken. The business
models assist and support the enterprise in developing effective presence in market and raise their
goodwill.

Competence of entrepreneurial team
Entrepreneur is a productive and skilled individual who has number of abilities, those when combined together gives
rise to innovative ideas and effective functioning of business or the firm. Thus, skills and competencies play a
major role in making an entrepreneur successful and the enterprise flourishing. Thus, accordingly me and my
team member have entrepreneurial competencies which are divided into personal and workplace competences.
These skills are:
 Team Working (Collective working)
 Effective planning

SMART Objectives
 The objectives of are defined by entrepreneur.
 To provide the best quality and variety of foods in breakfast, lunch and dinner.
 To capture the market share by 10% in 2021.
 To attracts the huge number to customers by expanding at number of location.
 To attain the 40% profitability after paying all expenses.

PESTLE factors
The PESTLE framework is a tool which enable marketers and management to gain thorough insight of
external surroundings of business world and the respective industry of the enterprise. The current
external environment is not supportive for hospitality industry due to the recent outbreak of Pandemic
in 2019. This has impacted the industry severely where businesses are closing down and survival
becoming difficult. In such environment launching a new business venture in the hospitality sector is
risky. The political, legal, technological and environmental factors imposes positive influence over the
entrepreneurship and the idea. But the other two factors that are economic and social can impose
negative influences due to fast changing social trends which is affecting preferences of people and
unstable economy due to the implications of Coronavirus pandemic.

Competition
The competition is one external and indirect factor which exist in the business surroundings and that can be
hindering for a fresh venture with innovative idea. Thus, Porter's Five Forces Model is used for knowing the
dynamics of competitive environment for the Delicious Food Truck. The power of existing rivals and new entrant
is high due to lack of barriers in the industry and easy entry. Other threats of substitute goods and customer's
bargaining power is very low because of one major factor that is innovation and creativity as well as credibility
of the venture. Lastly, supplier from whom food truck will be procuring raw materials has moderate power over
the firm as number of suppliers are present in the market.

Product
The product is simple and innovative which is a great alternative for unhealthy and unsafe fast
food nowadays students and other people are consuming. The product is an on road truck
named as Delicious Food Truck which will be offering tasty, nutritious and creative fast food
options to people and most importantly for today's youth who consumes all unhealthy products
made with unsafe ingredients and processes.

Marketing the business
Marketing is undertaken as the activity which is used by the business entrepreneur and also useful in
terms of launching new products and concerning services. In regard of this, STP is performed in
which Delicious Food Truck tends to decide significant market segment on the grounds of Psycho-
graphic in terms of interested candidates. Furthermore, respective company tends to target teenagers
who belongs from the age group of 15-60 years and want delicious food. Besides this, Delicious food
truck also use social media, online marketing and other activities that are helpful in terms of targeting
their audience.

Sales and operations
Sales and operations is the effective factor for an organisation which is useful in terms of marketing the
product within the business environment. It is considered as the essential activity that tends to vary
from each and every size of business. In relation with respective company, it is undertaken as the
effective challenge that tends to point out for increasing sales and operations so that administration
tends to use new and fresh technology considering the unique procedure for company. Moreover, this
technology is helpful in terms of reaching towards the target audience and also gets aware among the
number of people undertaking the uniqueness of dish which is useful in terms of enhancing the sales
and operations.

Sales forecast
Sales forecasting is undertaken as the effective process which is useful in terms of estimating the future
sales. As it tends to enable company for making business informed regarding the predicted
performance of company. In terms of this, organisations can base their forecast undertaking the past
sales data, economic trends and industry wide comparison. This tool is used in terms of estimating the
future sales as it is useful for informing the business decision and making effective assumptions
regarding the long term and short term performance. For this, sales should be forecasted as per the
selected company that represent the projection of £ 100,000.

Financial projections
It undertake the activity and projects that are useful for
entrepreneurs in terms of managing the task and
concerning activities according to the budget as it is set
by the manager to evaluate the significant
performance. In regard of this, the estimated future
financial result for the company and project tends to
apply on the grounds of budgeting and effective
valuation which is useful in terms of effective
operation of business. For this, effective financial
projections of Delicious food truck is mentioned as
under:

Strength and risk of businesses
Considering this, the factors for strength include offering better quality and organic food. No competitor
in market and also use better quality of raw material and also have attractive and peaceful business
environment. In regard of this, the weak factors can become risk for company which include
uncertainties regarding the interest of customers and product effectiveness, complicate procedure to
manage significant functions, lack of customer trust and distributional channel. Furthermore, effective
opportunities include maintaining proper safety, hygiene and clear environment, use effective
technology to deliver better quality of food and also have skilled and talented team members. Lastly,
threats include the significant changes in government regulations and political environment which
consider the significant changes in the demand of taste and also arise issues in the environmental
factors.

Closing summary
It depicts the ending stage of business plan that leads to consider the effective business plan which is
developed by the individuals in terms of operating and managing business. Along with this, the
business plan ideas tends to introduce the pitch for new venture which is helpful in terms of launching
a new product and concerning services in market. This plan tends to cover the effective environmental
analysis by undertaking the PESTLE, porter's five forces, strength and risk by using SWOT analysis
undertaking the budget estimation considering the financial projection which is helpful to operate and
launch business effectively.

References
Turner, T. and Gianiodis, P., 2018. Entrepreneurship unleashed: Understanding
entrepreneurial education outside of the business school. Journal of Small Business
Management. 56(1). pp.131-149.
Priem, R. L., Wenzel, M. and Koch, J., 2018. Demand-side strategy and business models:
Putting value creation for consumers center stage. Long range planning. 51(1). pp.22-
31.
O’Donnell, R. and Dahl-Popolizio, S., 2018. Business Entrepreneurship: The Integrated
Behavioral Health Business Plan. In Training to Deliver Integrated Care (pp. 143-159).
Springer,
Cham.Snihur, Y. and Tarzijan, J., 2018. Managing complexity in a multi-business-model
organization. Long Range Planning. 51(1). pp.50-63.

Thank You