Entrepreneurial Development

This document discusses the concept of entrepreneurial development and its significance in identifying and supporting new business ideas. It explores topics such as the customer value proposition canvas, business model canvas, the contribution of a chief informational officer, and the development of a financial and financing plan. The document also provides insights into the subject of entrepreneurship and its impact on the market.

Entrepreneurial
Development

Table of Contents
Introduction:.....................................................................................................................................1
P1:Examine the customer value proposition canvas:.............................................................1
P2: Define the Business model canvas:.................................................................................3
P3: Contribution of chief informational officer:...................................................................6
P4: develop Financial and financing plan:...........................................................................6
P5: why invest this lean entrepreneurial opportunity:............................................................8
Conclusion:......................................................................................................................................9
References:.......................................................................................................................................9

Introduction:
The entrepreneurship development is a program or process which aims in identifying and
supporting or growing the new business ideas to improve the health of audience , employment in
the market and enhance the work environment. In the another words, it can be understood that
entrepreneurship is a development process of enhancing the skills to come up with new ideas and
dissolve the issues and problems in the most effective manners. Under this report, Smoke and
salt restaurant comes up with new platform” Eat without device” . the main idea is that
customer will get 10% discount if they are eating without the devices while having meal at the
restaurant. The application is able to reach out the larger customer as people are becoming more
aware about their health and owner is able to make more profits out of this platforms. Abubakar,
2015)
According to entrepreneur, it is important to the collect the right information about the market
size, growth rate, what are the customer preferences and taste, different segments and their sizes
and various competitors present in the environment to develop the new venture . the
development proposal needs to have objective for the first three years such as profits , sale
revenue and profit margin. The new venture” Eat without device, “the organisation needs to
make the objective in such way that profits can be earned and sale can also be enhance in the
target market. (Achakpa and Radović-Marković, 2018)
P1:Examine the customer value proposition canvas:
To place the new platform in the market it is important to check its validity and demand of the
customer. For this value proposition canvas is used as tool to understand what are the target
customer needs and wants and by this platform will solve their issues. The purpose of this
application is that it encourage customer to leave their device while having the meal and focus on
easting and socialization with people.
It is canvas, a sheet of paper with large leftward square and right one circle which are formed by
customer canvas and value proposition template.
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The circle: it is divided into three pieces where the it is show that what expectation customer
are going to the complete which can be positive or negative. These three parts are stated as
below:: (Ács, Z.Jand Autio2017)
Customer job: under this canvas, customer have to dissolve the problems and conflicts by
themselves and satisfy their needs and by doing this the customer segment are able to refine their
preferences, reputation and duty.
Customer pain: it is refers to the what potential customer discover annoying, bad outcomes
and experiences as the side effect of rising the cost and huge risk with the jobs.
Customer gain: it is all about the positive and good experienced of the customer with new
platform as customer feels satisfied . (Afolabi, 2015)
The square:
Under this part, the product is divided into three parts which are corresponding to the relevant
customer profile parts. The main focus is on offering the platform or product which have good
features, function and another various advantages to its target customer from time to time.
Product and services: here the product is places in front of customer and with various version of
the product and different type of goods showing their premium and standard description of
product.
Pain relievers: it is responsible for solving the pain by the using the product by the customer , it
include the statement of fact that reduce the current issues with the job to be done .
Gain creators: it must explain the product extra value which it will be provided to the
customer . the focus is on offering new and innovative product so that customer have unique
experience while using the goods. (Asogwa and Dim, 2016)
Feature and function of product: as per this platform the customer will focus on eating the
meal instead of using the devices .
Benefits: the platform using in more and effective communication among the customer and
have a healthy meal which helps in reducing various problems which as obesity and chronic
decides. It also helps in socializing with friend, family and various another people.
PESTLE forces:
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Political factors: under this condition, it includes things government rules and regulation,
political instability , various norms which can affects the performances of the new platform “Eat
without devices.
Economic factors: in involves the factors such as inflation rates, interest rates, corruption and
etc which have impact on the grow and development of the new product in the target market.
Social factors: under this customer taste and preferences , their belief system and assumption
have a impact on new product and services.
Technology factors: due to advance technology, it will help the organisation to launch the new
platform in the target market places as technology is keeps on changing with time.
Environment : it include the climate, weather , geographical location which affect the
performances and executing of platform in new market.
Legal: here various legal norms , regulation will affect the execution and development of
market for the new product and services. (Fortunato. and Alter 2015)
Competitive strategies
Red blue ocean strategy : these strategies are used by the entrepreneur to take the competitive
advantages in the target market places. Where the red oceans includes all the industries present
in today and know their market space and industries boundaries and focus is on outperforming
the competitive and grab the larger market share . the market target are the young people who are
between the age 20=19 who are using such application on daily bases. on the another hand, the
blue oceans involve all the industries that are not in existence today and not knowing the market
position, which is untainted by the competition in the term of opportunity and profitable
business .
The value proposition canvas helps the people to use the application : Eat without device which
encourage them to not use the device while having the meal which further helps the customer to
disconnect themselves and be aware about the what they are eating, it also helps in improving
the health of customer .it also helps the customer to stay away from the device and interact with
friends and family. And have
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P2: Define the Business model canvas:
The business model canvas is a strategies management for developing the new models for the
platform and it look as a visual chart with nine elements describing the organisation product and
services, proposition, infrastructure and customer and finances. All these elements helps in
placing the product the right kind of market. This canvas is a good tool helps in understanding
the business model in straight ward and structured manners and also describes the how the
organisation create and capture effective values. The organisation can use this model to place the
new platform: “Eat without device” application in front of the target market:
Step1: customer segment: the organisation needs to have a proper segmentation based on
need and wants of its customer from time to time so that effective strategies can be formed to
meet the desire outcomes. it includes different customer segment such as: (Gvelesiani, 2015)
 Mass market: here the organisation does not need specific segmentation .
 Niche market: the segment is based on specific needs and wants of audiences.
 Diversity: organisation have to serve the different type of customer needs.
With the reference of “Eat without device” having professional as target customer working at
various location. this application is used by the sound business and corporate worker who are
looking interested in living health life.
Step 2:Customer channels: here the organisation focus on delivering the value proposition to
its target customer with the help of effective channels so that product can be given within the
time period and in prefect manners. the organisation can reach out to its audiences with the
means of own channel, partner, combination of both. In the context of “Eat without device” the
organization has apple store, Google play store and various online platform where they can reach
out for the application and make the best use of it.
Step3: Customer relationship: here the focus of organisation is on how they will get new
customer, maintain the purchasing power and how business will get its revenue from customer.
Some of the relationship are as stated as below:
 Personal assistance: it involves the employee and customer relationship.
 Self-services: here the customer are provided with tools to serve themselves.
 Automated services: the personalized services according to the taste and preferences of
customer.
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 Communities: direct interaction among the customer and organisation though the
community.
With the references of “Eat without device” the organisation focus on attracting more
customer who are interested in healthy lifestyle and provide them loyalty system with
10% discount.
Step 4: value proposition: it is value that distinguishes that product and service of the
organisation with the another companies good. It can be in the form of quantitative and
qualitative ,which included elements such as newness, performances and customization and
brand values in the product and services so to take competitive advantages in the target market.
For example, the” EAT without device” provide 10% discount on using the application and
promote the healthy lifestyle. Encourage customer to become the partner and reveal the various
benefits so that they can save the money and enjoy the healthy meals. (Hukampal. and
Bhowmick,2016)
Step5: key activities: the organisation main focus in adding value to its goods and services in
the market places. For the Eat without devices, aims that having good time without the use of
phone and any kind of technology and doing the campaign to raise the knowledge about
healthy life and make a group of people who aims to eat good food.
Step6: Key resources: under this stage, the organisation need those resources which will add
value to its product and service. These resources are considered as asset for the organisation and
must be retain in the organisation and resources are software for the application, human
resources , different inventors and contracts who help in executing the application.
Step7: key partnership: the organisation build the relationship among the buyer and suppler
so that they can focus on important core activity. Here the organisation tries to make alliance
with another restaurants and government of UK or with joint venture and so that their” Eat
without device “can get many people and grow their business .
Step8: cost structure: it show the various monetary structure while operating for different
models and it can be cost drive which focus on reducing the cost and value driven aims at
providing good value to its customer . some of the different type of cost associated with the
business such as fixed cost which remain unchanged with the change in activities and variable
cost vary depending upon the production level in the organisation. economic of scope show
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that cost go down due to incorporating among the business units . there are cost with
development of application and managing various another expense of application.
Step9: Revenue structure: here the organisation make the revenues and profits from the
different segment of the customer in the target market place. it includes various type of revenue
such as subscription, leasing and brokerage fees.
The break even analysis: the analysis helps in identifying the break even point where the
organisation are recovered their cost and have reach the point where their is no loss and no profit
for the organisation. from this point onwards they can start earning their profit margin and grow
their business in the market . (Siemieniuk, 2016)
With the references, of “Eat without device” can uses lean business model canvas to launch
their new platform at the target audience by evaluating the various segement of the market and
the expectation of the customer so that goods and services are useful for them and make the best
use of resources. The restaurant can adopt such new and innovative ideas to attach target
customer as it helps in improving their communication and interaction skills with different
people and understanding the benefits of having meal with the coincidence
P3: Contribution of chief informational officer:
A chief informational officer is a organisation executive who is responsible for the management,
implementation of the computer technology. Due to change in the technology , the role of officer
in the organisation has been increased to improve the application and take the competitive
advantaged in the target segment. The CIO examine the various technology that can help the
organisation to improve their services and make the better application so that larger numbers of
audiences can used it any time. The role of the CIO is to develop the effective strategies and
sound computer system so that business of the organisation keep on expanding in the cut-throat
competition. and it is responsibility of the officer to predict the future of technology so that
effective steps can be taken to make best use of available opportunities’ and reduce any
adverse condition in the market .The chief informational officer is reasonably in collect the
important essential information about the market . the CIO are viewed as key contributors to
formulating organisation goal as important information are transmitted thought the mode of
technology which lead to fast and accurate functioning of resources in the application. The
another important role of the CIO is stated as strategic business leadership providing effective
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polices regarding the IT department and making effective transformation with the information
technology in the business units.
P4: develop Financial and financing plan:
Under this part of development plan , the owner of the restaurant or the entrepreneur has to
estimate the finance plan which will be needed to run the application smoothly .
The cost structure of application:
Application development (outsourcing): $160.9999
Application management: $30.000/year/
Landline: $100.00
Rent: $4000
Marketing and sale: $1000.000
Taxes:$250.00
There are various another indirect cost with are involved in making the application and maintain
its network .
Cash flow statement: under this statement the organisation cash inflow and cash outflow is
determine and examine to find out the cash from various activities such as operational,
investing and financial . the organisation make such statement to see how much cash it has
generated from application of Eat without device
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The revenue streams and pricing model:
The organisation needs to calculate the revenue on regular bases to make effective strategies for
improving their sale in the target market. Pricing strategies for the restaurants are as stated:
$1000 for monthly membership for the restaurants
$1,3m for yearly membership
1% for each order: one year 01*200 orders/month*1000 restaurant *12 months= $249.000
Total revenue =&1.7 4 m
Source of finance: there are various different sources of finance which entrepreneur can use to
provide funds to make effective and secure application platform
Joint venture: here the owner of the resultants has proposal plan for the investors so that these
people can provide fund to launch the new product and service .
Financial institutional : these agency can help the entrepreneur to start the new platform by
giving the money to launch the new application.
Government subside: to promote the healthy application, government also provide various
subsidy .
Personal loan: here the organisation can take the personal loan from friends and family or form
the bank so that all activities can be preformed in proper manners.
P5: why invest this lean entrepreneurial opportunity:
It is great opportunity for the entrepreneur to make the profits by launching this application in the
target market place. it will provide a way from which owner can make the profits in present and
coming few years. The business model is designed in such a way which make the strategies to
work in the most effective manners. firstly restaurant in the various target market pays sign-up
free which is around $699 and prepare the application for the customer than, restaurant receives
the GPRS box and they put the menu on the website so that customer can see the what foods is
available and places the order online ,next step is delivery of order foods to the customer within
the set time period. Last the restaurant pays around 12% commission on ordered plus the credit
card fee. It is effective and profitable means to executed the application as it act productivity
means to grow their business with the help of application and attach more customer by serving
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food which motive to have healthy meal and not using the phones and ant another deviance
which can interrupt the meals.
As customer nowadays are more concern about their health and better lifestyle , this platform has
huge impact on the mind of the customer and this will make them to install more application
which will increase the profit margin for the entrepreneur in the competitive market places.
According to the Mintel the value of mobile application market is %1.98 billion for the 2019
and it will grow with 33% from 2018. It also forecasted that application market will grow by
83% by the 2024 to% 3.62 billion. Further it is founded that people age between the 20-29 are
most likely to use the application by the 52% rate in the market. And customer are changing
their eating habits and are looking for health food that can reduce various problems related to the
human being.
Conclusion:
According to above discussion, it can be stated that development of platform” Eat without
device” which helps in improving the health of the customer as people are becoming more aware
about the food they are eating. It also helps in having sound interaction among the people . these
two model value proportion canvas and business model helps in placing the application in right
kind of market in correct time which helps them to develop the application which is more
competitive in the target market place.
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