Entrepreneurial Opportunity: Developing a Human Resource Consultancy Firm

Entrepreneurial
Opportunity

Table of Contents
.........................................................................................................................................................1
INTRODUCTION...........................................................................................................................2
1. Introduction to entrepreneurial ideas ....................................................................................2
2. Entrepreneurial theme ............................................................................................................5
3. Development Plan...................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11
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INTRODUCTION
An entrepreneur is referred to as a person who has innovative ideas that is used by him
for gaining economic benefit. However, an entrepreneur can also be defined as an individual who
is associated with development of new activities and ensuring the completion of task.
Entrepreneurship can be considered as the procedure of discovering various methods of
combining resources in an effective as well as systematic manner in order to realize a market
value. The report has focus on entrepreneurial theme and the way it relates to the proposed
business venture. These themes will assist entrepreneur in developing understanding about the
business and will support them in managing business in successful manner. Startup companies
and colleague students are the target of consultancy firm. The target market that can be used by
human resource consultancy firm can be categorized into two segments such as emerging high-
tech origination and non-high-tech business unit.
1. Introduction to entrepreneurial ideas
The business idea is to develop and introduce business clients. This idea is similar to
human resource consultancy business. This is basically a recruitment agency. Human resource
consulting organization require one or more experts that could provide professional advice to
customers. The purpose of the enterprise is to offer easy access to industry specific consultant on
various or particular subject matter. It is very difficult to set up a new operating business as such
organization require huge capital investment and resources. Introducing clients to existing
business is an effective idea as there is less risk of failure and it also requires less investment.
The concept of this business is quite simple to understand as Entrepreneur is required to identify
existing business entity that are looking to recruit clients and willing to accept fresh talent. This
business idea will provide entrepreneur to gain profit at initial stage of the business which is not
possible in establishing other business. In this business, entrepreneur will get a chance to target
candidates those who require jobs and other party is organization or companies that are needed to
hire fresh talent. In this business Owners are accountable for maintaining communication
between employees and administration. The Human resource manager is required to execute
various activities maintaining line of communication. Duty of entrepreneur is to fix or improve a
particular component of client business. This business is selected as in such as competitive
demanding the companies generally do not have much time to waste on conducting a lengthy
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procedure to hire skilled and talented employees. So, these organizations hire outsider party to
conduct such procedure for enterprise (Fayolle and Gailly, 2015).
The reason of establishing the Recruitment business is to provide affordable recruitment
solutions to small and medium sized businesses. But not at the cost of sacrificing organization
well established service levels. The business entity has understanding that other enterprise or
multinational companies want two things from a recruitment agency that is great candidates and
Budget pricing. The cited Venture provides both. The quality of services will assist firm in
achieving success and fostering growth. It will also support business entity in establishing good
position in market and wining over competitors.
An organization value proposition is defined as the benefits that company provides to its
client. A staffing organization unique strategy of value proposition include adopting the cost
leadership pricing strategy as this will help Business venture in attracting more number of
customers. The enterprise will provide effective and unmatched services that is not provided by
other staffing or recruitment agencies. The objective of the organization is to protect their clients
from getting tangled in unproductive relationships with workers.
The recruitment agency has opportunity to gain profitability. The business entity has a
chance to get specialized in the recruitment field. It has an opportunity to develop and introduce
unmatched services in order to attract more number of customers. Recruitment agency has an
opportunity to use technology such as internet and social media sites for recruiting candidates on
behalf of other enterprise. The firm has a chance to introduce online training program me for
candidates as this will help business venture in increasing sales, profitability and fostering
growth.
With the increase in competition level, there has been rise in demand of skilled as well
talented workforce and demand for such type of business (Zahr and et.al, 2014.) Human
resources business there are many specialties such as strategic management, information
technology consultant, human resource consulting, virtual management consulting, operation
management consulting etc. It provides entrepreneur an opportunity to offer more services that
may lead to increase in work while specializing or getting expertise in particular field or in few
areas can provide opportunity to achieve or gain high paying contracts. This business is high
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