Enterprise and Entrepreneurship: A Business Plan for Gems and Jewels E-Business Platform

ENTERPRISE AND
ENTREPRENEURSHIP

EXECUTIVE SUMMARY
This report will discuss about the new business venture in relation to e-business platform.
There are different factors which are related to the online business and create the impact on
political, economical, social and related factors. For staring the new business venture, various
elements are required such as bank loan, usage of latest technology, impactful website and so on.
This also discusses about different sources of finance, start-up cost which are involved and the
competitive analysis is being done with the other business which are available in the market. In
the below mentioned report follow the discussion of a business plan. It covers the introduction of
e-business platform. This report consist of competitive analysis, sales and operations and
strength and weaknesses of the business of the management.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
TASK-1............................................................................................................................................4
INTRODUCTION...........................................................................................................................4
Business Model...........................................................................................................................4
Entrepreneurial competences......................................................................................................4
PESTLE Analysis.......................................................................................................................6
Competition.................................................................................................................................7
The product.................................................................................................................................9
Marketing the business STP........................................................................................................9
Sales and operations..................................................................................................................10
Sales forecast and Financial projections...................................................................................11
Strengths and risks of the business...........................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15
APPENDIX....................................................................................................................................16
TASK-2 PRESENTATION......................................................................................................16

TASK-1
INTRODUCTION
Entrepreneurship is the ability in order to develop, establish and run a business
organisation so that they can deal with the various uncertainties while generating higher profits.
It is majorly concern with the change and the different type of change so that they can rightly
start their new venture. It is considered as the process of implementing new methods of operating
business. This also replaces the old business idea with the new one in order to get higher market
growth and entrepreneur is defined as the individual who is having certain capabilities and the
talent to implement and gain higher market growth in new start-up business along with the
different risks. They also enable the new business ideas so that they can have the career
opportunities and growth. Business plan is the written document which sets the objective and the
nature of the business and the way to achieve the goal, background information and financial
position by using different strategies in order to achieve the set targets (Zheng and Du, , 2020).
This report is based on “Gems and Jewels”. It is the retail e-business platform that is jewellery
market but due to adverse impact of pandemic, a new niche venture got established by which
customer can order jewellery through online mode. This business plan also includes the details of
business, location, market analysis, product description, competitive analysis, operational plan,
risk and contingency plan, sales and marketing strategy.
Business Model
The new start-up business is the platform which provides online jewellery for all the
women out there as it is the retail e-business. The main reason behind establishing the such
business is reachability of the potential customer from their mobile only. They don't need to go
out and shop so the new venture is establishing with the aim of offering their products online. It
is the sole-proprietorship business as this is owned and controlled by the single owner. They are
offering different types of accessories to all the people and the new business have chosen as the
jewellery market place due to customised demand of the customer (Wulandari, 20200.(Tu and
Pham, 2021).
Entrepreneurial competences
It is defined as underlying characteristics of the individual which results in new venture
creation and also helps in the staring the new business. Such attributes includes the specific

knowledge, motives, traits, self images, social roles and skill by which they can reach to the
higher level of profitability and growth. In context to Gems and Jewels, the entrepreneur is
having the systematic planning and monitoring, risk taking by which they are leading to the new
business venture with the aim of long term sustainability in the market and they have choose to
operate their business online by which they can cover the large group of potential buyers who
can contribute to the higher sale of the company. This company or the start-up could be managed
by the CEOs. There will be a human resources manager and another marketing manager who
will do all the activities. Everyone else is chefs and staff working in a business environment.
First, internal operations activities are led by the human resources manager. As it will be a job of
hiring talented new candidates that cost more and also require more salary. The budget is used to
decide how many employees to hire. They are then offered training and development sessions.
Then there are performance appraisal programs and a reward system set up by a company's
human resource managers. Then, in the case of a marketing manager of Gems and Jewels, they
identify what the customer prefers and what all his requirements and needs are. They will
identify all the requirements of the customers and this will lead to the production of their
products. Then the advertising will take place through online digital platforms and direct
marketing. Because older people use social networks less. This will be a successful business as it
will be difficult to find in the UK and tastes will be different too. This will be more successful as
the company's target market will be older people.
Objectives
The core objective of Gems and Jewels are given below:
 Specific: The objective of the business is to develop the customer base with easy
reachability for generating maximum profits.
 Measurable: In order to analyse the objective, Key performance indicator tool has been
used so that deviation can be identified and resolves with the aim of higher profits.
 Achievable: In order to have the good customer base, Gems and Jewels require to push
themselves so that predetermined goal can be attained in order to have the better
approach in the market.
 Realistic: The objective must be real and also explained its pathway so that employees of
Gems and Jewels must have the right approach to work in the business. They can

increases their customer base by using the appropriate medium of marketing (Rossetto,
2021).
 Time frame: For attaining the objective of the company, entrepreneur takes 12 month to
build the effective customer base in the target market.
PESTLE Analysis
It is the framework of analysing the external factors which are impacting the overall
functioning of the business which includes political, economical, social, technological, legal and
environmental factors. In context to Gems and Jewels, these factors are explained as follows:
 Political factor: While establishing the new business venture, there are various which are
emerging in terms of government. As there are ample of business which are operating in
the e-commerce businesses so there is huge competition in the market and create
difficulty for Gems and Jewels. Company must assures the economic stability so that
customer are getting no disruption in the online and physical stores. They are operating
their business in the London market which also helps them for long term sustainability.
 Economical factor: These are the factors which includes the inflation, taxation rate,
recession etc. as they are directly related to the business and their profitability. It will
have an impact on the management who are working in the field of the market and taking
all the decisions. As the new start-up business of management might be follows their
efficient marketing strategies that are to be get build by which the management can right
fulfil the desires but with the fluctuation in the economic factors in the market are also
exist (PAPEŽOVÁ, 2020). It will have an impact by the inflation, gross domestic product
of an economy, taxes charged, foreign direct investment, interest rate, foreign exchange
rates, economic development arrangements and varied other.
 Social factor: trends are getting changed frequently and all the consumer are having the
changing perception for the specific commodity so it is vital to evaluate the customers
demand properly and on the basis of that there can be variations in the different type of
jewellery in different locations by which they can face difficult in operating their
business. It will involve the cultural tendencies, demographics, analysis of population and
varied sections in the following factors. The taste and preference of the consumers that
are also analysed in this section. Buying tendencies these days are dynamically varying
that will have an impact on the revenues of the business of the management.