The Impact of Entrepreneurship Education

This assignment delves into the relationship between entrepreneurship education and its influence on entrepreneurial intentions. It examines various research studies and meta-analyses that investigate how educational programs shape individuals' aspirations and likelihood to engage in entrepreneurial activities. The analysis encompasses factors such as pedagogical approaches, curriculum design, and the impact of experiential learning in fostering entrepreneurial mindsets.

Entrepreneurial
Opportunities

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
1) Introduction to entrepreneurial opportunity and its value proposition...................................1
2) Critical presentation of two entrepreneurial themes...............................................................3
3) Development plan on chosen theme .....................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES ...............................................................................................................................8

INTRODUCTION
Entrepreneurship in simple words can be defined as the set of steps or activity that help
in the setup of start up business. It generally includes designing, launching and running of
business. This small business has become important art of economy and has played major role in
strengthening the economy of nation (Stuetzer, et.al, 2017). Entrepreneur is the person who use
its own creativity and innovative idea to settle the business. These people have great spirit that
help them setting a vision and directing their efforts in single direction so that desired goals and
objectives can be achieved. For the current report Carpe diem cafe has been taken into
consideration. The owner has established this small cafe in the main market of Manchester. The
report will provide with various entrepreneurial opportunity and how this opportunity can help in
successful business venture. It will also provide with entrepreneurial theme on which business
work along with a development plan.
1) Introduction to entrepreneurial opportunity and its value proposition
Entrepreneurial opportunity can be described as a situation or condition in which new
goods, services, raw material can be introduce in market and can be sold in market so that profit
can be earned. Every idea has its own value proposition that help firm in making product
attractive toward the customer. Carpe diem cafe has come up with the unique idea that can help
them in making people more about their shop and attracting valuable customer. The firm has
chosen social media as one of their platform to connect with people and making them more
aware about them (Shalley and et.al, 2015). The firm has post their advertisement on the
different sites like Facebook, linked in, snap chat etc. and provide every person a discount of 10
% on the purchase from the cafe. The firm also provide them with additional coupons on the first
purchase and make free membership card for customer that add reward points every time they
work. What make the idea unique is the long chain of offer that the cited firm has offered, that
help them in retaining their customer and connecting them with the firm for lifetime. Other than
this great idea the owner is also aiming on grabbing various entrepreneurial opportunity that can
help them in transforming into one of the leading business.
Entrepreneurial opportunities
 Innovation: In order to be successful its necessary to make smart business decision that
can help Carpe diem in its growth. Innovative and creative idea make Carpe diem
different from their rival. It not only help them in finding stability but also help them in
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gaining competitive advantage. Innovative idea like their promotional activity help firm
in attracting more customer toward them and will also assist the in gaining customer
satisfaction (Naudé, 2013).
 Quality product: Quality in product and services is one of the most important factor that
help firm in retaining their customer and gaining their satisfaction. The promotional
activity and all the offer made by the cited firm will be wasted if it does not produce
quality product. The cafe is a small business and its necessary of them to provide their
customer with quality product and effective services. This will help them in attracting
more customer leading to profit maximisation. This will help firm in investing this
money for further development.
 Investors: Innovative idea, creative product and quality services will not only help firm
in attracting customer but also potential investor that can help Carpe diem in their further
development. Unique idea and great execution can help Carpe diem in gaining the
attention of investor that can help them in the growth of market (Mason and Brown,
2014).
 Investing in different market: With the help of their innovating idea, and potential
investor it will open the gate of many opportunities for the cited cafe. With efficient fund
and unique idea they can enter different market such as they can expand their business to
restaurant or hotel industry. Different market will help them in expanding their business
and market share among the competitors. It will also provide them with competitive
advantage.
 Skilled labour: Any innovative or creative idea is not unique unless and until you have
good team that can help you in execution and making that idea in reality. With growth its
necessary of Carpe diem to invest in such people who can bring efficiency in the working
of firm and can contribute in the success of firm.
 Diversification: It's another option that firm can adopt in their working style. Virgin
group is one of the biggest e.g. of above factor with the help of this method it was able to
achieve the success its seeing now. With the help of great opportunity, innovation and
management the firm can add some diversification in their business as well as in their
products (Kirzner, 2015). This will help them in bringing new customer toward the firm,
leading to increase in the sale, and market share.
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Above are some entrepreneurial opportunity that can help cited firm in achieving more
success and turning their mere business into one big organisation. This opportunity help in
increasing the value of firm in the eye of customer and help them in gaining customer
satisfaction.
2) Critical presentation of two entrepreneurial themes
There are many themes of entrepreneurship that can be adopted by firm in order to
enhance their performance. It is also quite effective in increasing their market share and gaining
competitive advantage some of this entrepreneurial themes are mentioned below
 Seize the opportunity
 Learning from mistake
 Networking
 Welcome criticism
 Start initiating things
 People
 No option of give up
 Innovation
 Bold execution
 Work in single direction.
These are some entrepreneurial theme that an owner or an entrepreneur has to adopt in
their working style so that they can get success in their field of business. Enchanted cafe should
also pay attention to this theme and adapt in their working so that positive change can be bought.
It will also help in the development of firm. Following are two themes that has been discusses in
details.
Two Theme of entrepreneurial opportunities
Recognised
There are number of the opportunity that are presented in the market that can help Carpe
diem cafe in attaining great success that will be beneficial for their growth in market. In case the
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firm is not able to recognise these opportunities it can lead to loss of chance. In order to
recognise right opportunity which can bring success to their door its essential of the cited cafe to
conduct a proper market analysis so that they can recognise various opportunity and threat that
can bring success to the firm or can cause hindrance in their working. Recognising this
opportunity and threats will help them in come up with better plan that can help them in their
growth and can contribute in the success of the firm (Gorgievski, Ascalon and Stephan, 2015).
An entrepreneur who does not have recognising skill loss many chances of success that
can be of great benefit to them. Not able to recognize a development or success chance can
bring lot of regret with as the result the cafe can lose the development chance that can bring
them lot of success. In order to make sure that no such chances pass from the hand of
entrepreneur its necessary of him to recognize all the possibility and make sure that it use it
properly. Not able to recognise a chance of development is equal to providing the chance of
development to rival that is not good for the cited firm. Recognising right chance at the right
time help the firm in its growth and gaining competitive advantage among the rivals. Not able to
recognise a development opportunity or threat can lead to the downfall of the firm. It will make
it difficult for the firm to find stability in the market. In addition to it not able to recognize the
threat that can have adverse effect is equal to suicide. Recognition is an important part of
success. Its one of the effective strategy that help firm in achieving their goals and objectives
and also help them in enhancing their performance. It also provides firm with competitive
advantage (Fassin, Van Rossem and Buelens, 2016). Carpe diem also have to pay attention to the
different opportunity available in market and make sure to recognise them so that maximum
profit can be earned. With the help of this theme Carpe diem will be able to gain competitive
advantage in the market that will help it in finding stability in this ever changing market.
Discovered
Most of the people take discovered theory as negatively but an successful entrepreneur
see this as an opportunity which can bring betterment and improvement in the firm that can be
quite useful for the success of the firm. Its necessary of Carpe diem to discover various way and
techniques and change them into positive outcome this will help them in enhancing their
performance and producing better quality of work (Blackburn, Hart and Wainwright, 2013
). It also acts as the way through which innovation and creativity can be bought in the firm . This
will help them to make necessary changes in their working that can help them in attracting new
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customers. This will also help them in satisfying their customer and making them happy. With
discovering new idea and ways they can produce strong services and product that can survive in
market. Discovering new way and implementing is a risk which will help them in knowing their
strong point as well as their weaknesses. The firm can strengthen their products and can
eliminate their weaknesses so that they can occur as the strong competitors in market.
Discoveries can provide them with the advantage as they become come up with different and
unique idea that can help them in changing the of the perception of people helping them in
producing quality service and gaining competitive advantage (Drucker, 2014). Discovery is not
only of new idea but also about discovering various way through which they can know about the
views and demand of the customer so that they can produce the product that can satisfy the need
of people. In case where entrepreneur refuses to discover new ways and implementing changes
in their working can cost him customer as well as the image of firm. It cannot be denied that
discovery is big risk that can make or destroy a firm, But it also cannot be denied that it also
provide them with Unique image in the midst of so many competition. . Its necessary of the cited
cafe to take discover in positive light this will help him in bringing essential changes in the firm
that will increase their performance.
The above two theme state that its essential of Carpe diem cafe to recognise the right
chance at the right time so that they can proper development. It will also help them in increasing
their market share and business. Along with this Discovery will help them in enhancing their
performance and differentiating them self from others. They can also gain competitive advantage
by producing a product that can satisfy the need of customer. Carpe diem has to keep in mind
that adoption of this theory can provide them with various chance of development and
opportunity that can help them in achieving their desired goals stability in the market.
3) Development plan on chosen theme
A proper development plan will help Carpe diem cafe in putting their efforts in single
direction so that goals and objectives of firm can be achieved. This will help them in their further
development and taking right action at the right time so that appropriate opportunity of
development can be seized. Development plan should take this entrepreneurial theme into
consideration this will help them in come up with the best strategic planning that can be useful
in the further development of firm (Fayolle and Gailly, 2015). This theme provides the cited
firm with base on which goals and objectives can be laid that can help firm in achieving success.
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This development plan will also help them from loosing their focus and keep them safe from any
type alteration. This plan will provide Carpe diem with competitive advantage and will also help
them in achieving their goals and objectives. Development plan include target that are need to be
achieved with the strategic method that can help them in achieving there goals and objectives.
Development plan
As we have discussed before it included some special target that is required to be
achieved by firm. Firm put all of their effort in single direction so that they could achieve this
goal. Some of this target are mentioned below Quality of products: As we have discussed before the quality of product and services are
essential element that help them in attracting more customer toward the firm. Customer
valued quality product and are ready to pay few extra if they are satisfied with them (Bae
and et.al, 2014). Its necessary of Carpe diem to make sure that they are providing their
customer with quality product so that they can retain them to firm. Criticism help them
in improving their product and make require changes so that it can meet the demand of
people. Customer satisfaction: Its one of the important factor. The firm make sure that their
customer are satisfied with them and provide them with quality product. They also aim to
connect their customer for lifetime (Chatterji, Glaeser and Kerr, 2014). Carpe diem
promotional plan of extra offer also aim on satisfying customer and retaining them to
firm. This help them in gaining the loyalty of customer, leading to increase in sale and
profitability.
 Expansion: Like any other firm one of the aim of Carpe diem is to expand their business
and emerge as one of the leading firm in the market. The promotional plan of carpe diem
was quite effective in attracting the attention of customer that help them in gaining more
customer base and also market (Chaston, 2017). Snatching the right opportunity at the
right time will also help them in gaining competitive advantage and expanding their
business in wider market.
To achieve theses target some strategies are given below that can be adopted by Carpe diem in
order to achieve the above mention target. Good network and relationship: Good network and relationship is one of the way which
can help firm in achieving their goals. Having good network not only will help firm in
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acquiring valuable customer but also potential investor that can help Carpe diem in its
idea of expansion.
 Skilled employees: Skilled employees not only contribute in the success of firm but also
help in enhancing the overall performance of firm (Carland, Carland and Stewart, 2015).
By hiring skilled employee and providing them with essential training it can enhance
their skill and can increase their potential.
CONCLUSION
From above report it can be concluded that in order to change a mere start-up into a
leading firm its necessary of Carpe diem to come to adopt various entrepreneurial opportunity
that can help him in its further development. Different entrepreneurial theme help in bringing
necessary trait in the working that help entrepreneur in running its business successfully.
Development plan help them in directing their efforts in right direction so that they can keep
their focus in right direction and can achieve their objectives.
REFERENCES
Books and Journals
Bae and et.al, 2014. The relationship between entrepreneurship education and entrepreneurial
intentions: A meta‐analytic review. Entrepreneurship theory and practice, 38(2), pp.217-
254.
Blackburn, R. A., Hart, M. and Wainwright, T., 2013. Small business performance: business,
strategy and owner-manager characteristics. Journal of small business and enterprise
development.20(1). pp.8-27.
Carland, J. C., Carland, J. W. and Stewart, W. H., 2015. Seeing what's not there: The enigma of
entrepreneurship. Journal of small business strategy.7(1). pp.1-20.
Chaston, I., 2017. Entrepreneurship. In Technological Entrepreneurship (pp. 1-24). Palgrave
Macmillan, Cham.
Chatterji, A., Glaeser, E. and Kerr, W., 2014. Clusters of entrepreneurship and
innovation. Innovation Policy and the Economy. 14(1). pp.129-166.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
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Fassin, Y., Van Rossem, A. and Buelens, M., 2016. Small-business owner-managers’
perceptions of business ethics and CSR-related concepts.Journal of Business ethics.98(3).
pp.425-453.
Fayolle, A. and Gailly, B., 2015. The impact of entrepreneurship education on entrepreneurial
attitudes and intention: Hysteresis and persistence. Journal of Small Business
Management, 53(1), pp.75-93.
Gorgievski, M. J., Ascalon, M.E. and Stephan, U., 2015. Small business owners' success criteria,
a values approach to personal differences. Journal of Small Business Management. 49(2).
pp.207-232.
Kirzner, I. M., 2015. Competition and entrepreneurship. University of Chicago press.
Mason, C. and Brown, R., 2014. Entrepreneurial ecosystems and growth oriented
entrepreneurship. Final Report to OECD, Paris, 30(1), pp.77-102.
Naudé, W., 2013. Entrepreneurship and economic development: Theory, evidence and
policy. Browser Download This Paper.
Shalley and et.al, 2015. Introduction: Integrating creativity, innovation, and entrepreneurship to
enhance the organization’s capability to navigate in the new competitive landscape. The
Oxford handbook of creativity, innovation, and entrepreneurship, pp.1-14.
Stuetzer, et.al, 2017. Entrepreneurship culture, knowledge spillovers and the growth of
regions. Regional Studies, pp.1-11.
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