Report on Entrepreneurial Opportunities (Doc)

ENTREPRENEURIAL
OPPORTUNITIES

Table of Contents
INTRODUCTION...........................................................................................................................1
1- Introduction of the entrepreneurial opportunities or ideas and its value proposition.............1
2- Critical Explanation about entrepreneurship themes..............................................................3
3- Development Plan based on the chosen development themes................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurs are the people who start their business by their own ideas and creativity.
They have set of skills and traits through which they manage their work in an effective and
efficient manner. They create their vision and mission and make business plans to accomplish
the objective. Entrepreneurs are the individual who always gives different innovative product
and services to their customers. It helps me to fulfil the needs and wants of the buyers. This
report includes the entrepreneurial opportunities and their different ideas and its value as well.
Entrepreneurial themes will discuss elaborating the personality of business persons. On the other
side, development plans for my new idea which is related to clothing sector. Furthermore, this
report will discuss about other characteristics of good entrepreneur and skills which are
important for them. Present report based on clothing firm RK company situated in United
Kingdom. It is a small entrepreneur firm deals with clothing.
1- Introduction of the entrepreneurial opportunities or ideas and its value proposition
My new business idea come up with their creative ideas and innovation. Entrepreneurship
is different from entrepreneurial opportunities. Entrepreneurial opportunities archived by
entrepreneur spirit(Bae and et.al, 2014). Individual make their own plans and goods and services
to accomplish the target of entrepreneurship. On the other hand, an entrepreneur is the person
who modify the plans and strategies to make them perfect; thus, this is the quality which takes
business on the top of the world. It helps to grab more possibility to earn profit. There are many
opportunities for the entrepreneurship to enhance their business growth and earn maximum
revenue(Chaston, 2017). My business idea is related to the clothing which provides men and
women clothes at reasonable price.
Opportunities/ideas-
On the basis of my new idea which is related to the clothing sector. To enhance
the business growth I need to adopt some new opportunities and ideas through which customers
likes the product and services. To improve my customer attraction it is necessary to adopt some
effective changes like given below.
 Innovation: Entrepreneurship is totally based on new ideas. Businessmen create
many new and attractive ideas by which they grow their business opportunities.
Innovation is the best quality of a good entrepreneur. It helps to maintain the good
image in front of the customers and in the market as well. On the other side,
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innovation and new goods and services always attracts more new customers. It helps
to increase the product sales and earn good profit. Innovation is an essential element
to achieve the entrepreneurial opportunities. RK needs to develop new styles and
trendy clothes which attracts more new customers towards them. In clothing sector
customers wants new and trendy styles of clothes. New product and services grab
more new buyers.
 Diversification in changes: This is another opportunity of entrepreneur. In this part,
diversification creates new goods and services. It leads to create more product sales
and revenue(Chatterji, Glaeser and Kerr, 2014). It assists to attract newer potential
customers. Diversification is done on the basis of research about the needs and wants
of the customers. This makes customer satisfied and happy with the company. It also
increases the market value and image in front of the buyers. Diversification is the
process which gives new services which is different from others. It helps to develop
the business image and market share. Diversification helps me to analyse the new
customer wants and full fill customer satisfaction.
 Investments: Investment is very necessary activity which is important for every
business. This opportunity gives profit to invest on other business activities. Rk
Company has the ability to invest some part of money into profitable areas which can
be used in other activities. On the other side, investment helps to expand the business
opportunities and gives new ideas of product and services(Zahr and et.al, 2014). new
better investment helps me to take my business into further growth.
 Talented Employees: It is the biggest opportunity for the owner of the company to
recruit skill-full and talented staff. It will increase the efficiency level of
entrepreneurship. Employees are very important to implement the plan. It gives their
services to accomplish the objective of the company. Also, it helps to enhance the
performance level and give long term commitments. On the other side, talented
employees help to understand the needs and wants of the customers because they are
the people who directly interact with them. Employees are the assets of a company
who give their services towards the company’s growth. Without the help of good
employees, entrepreneurs cannot implement their plans properly(Davidsson, 2015). I
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