Entrepreneurial Practice: Critical Appraisal of Phases and Risk Management Strategies

PROFESSIONAL DEVELOPMENT:
ENTREPRENEURIAL PRACTICE

TABLE OF CONTENT
Introduction
 Critical appraisal of phases in entrepreneur practice from ideation to
delivery
 Strategies for addressing or managing risk within entrepreneurial
business venture
Conclusion
References

INTRODUCTION
• Entrepreneur is starting and managing business through undertaking sufficient
amount of risk to earn significant profit margin by making customer's happy and
satisfied.
• They have special characteristic to start and run business for earning high
profitability.
• This presentation has include critical appraisal of phases in context of entrepreneur
practice starting from ideation to delivery.
• Moreover, it has depict information related to strategies that are used to address and
manage risk in entrepreneurial business venture.
• At last it has explained about entrepreneurial traits and characteristics for strategic
positioning of the business venture

A) CRITICAL APPRAISAL OF PHASES IN ENTREPRENEUR
PRACTICE FROM IDEATION TO DELIVERY
Entrepreneur to promote smooth operation of business perform number of phases starting
from idea generation to delivery of services to customer's for fulfilment of their
requirement in effective manner. Likewise, idea generation, opportunities evaluation,
planning, company launch and growth are different phases that are being used by
entrepreneur to grow and succeed. Such as:
• Idea generation: The first and foremost phase that is taken by entrepreneur in its
practice is generating the idea that could be used by it to attract maximum number of
customer's in the firm. Likewise, in the case, Coventry University has find out idea to
expand business internationally to attract more student and earn high profit margin.