Entrepreneurship And Innovation Assignment

RUNNING HEAD: Entrepreneurship and Innovation
Entrepreneurship and
Innovation

Entrepreneurship and Innovation 1
Executive Summary
The below mentioned report is formed to introduce a new business line in the Sydney Harbor
Marriot Hotel present in Australia. The organization is successfully running its business in the
market of Australia. Further, the company is aiming to introduce cruise services in Australia so
as to increase its level of profitability. Further, the report evaluates the description of the
company along with the analysis of marketing and management strategies of the organization.
Evaluation of competitors has been made in the paper. The ways in which the organization
should attain funds in the environments in the environment that is through retained earing and
IPO. The key challenges and measure to solve such challenges have also been discussed in the
paper. Further, additional details about the paper are mentioned below:

Entrepreneurship and Innovation 2
Contents
Introduction......................................................................................................................................3
Description of the Entrepreneurial Venture.....................................................................................3
Management....................................................................................................................................4
Marketing.........................................................................................................................................5
Competitor analysis.........................................................................................................................5
Financial Analysis...........................................................................................................................5
Key risks and challenges.................................................................................................................6
Conclusion.......................................................................................................................................7
Bibliography....................................................................................................................................7
Appendix..........................................................................................................................................8

Entrepreneurship and Innovation 3
Introduction
The objective of the paper is to enlighten the reader about the details about the innovative
business venture of the company Marriot present in Australia. The initial part of the report
involved analysis of the hotel Sydney Harbor Marriott present in Australia. This part of the paper
evaluates information about the implementation of innovative segment in the organization. It
should be noted that through this line, the company is aiming to introduce cruise service in the
market of Australia. The cruise segment would help the organization to increase the revenue and
diversify the scope of business (Dos Santos, Méxas, and Meiriño 2017). The below mention
report analyse information about entrepreneurial venture and the management and operations of
the company. Marketing and competitor analysis of the company has been evaluated in order to
analyse the level of competitiveness that the company need to introduce in the brand.
Description of the Entrepreneurial Venture
Sydney Habor Marriott, Australia is a branch of Marriott group. Marriott international is an
American multinational organization diversified in the hospitality industry. The hotel industry is
prosperous in every part of the world. This industry is the main sector with the help of which
several countries increase their economy and profitability as well. Sydney Harbor Marriott in
Australia is a well renowned hotel that is working prosperously in the nation. The company is
present in the upper middle segment that provides high class services to people in the
environment.
The Harbor Marriott hotel Australia is a heritage that is situated on the continent of Sydney. The
hotel was constructed in the year 1922 and took almost one year of completion. Tooth and
Company funded the hotel and the hotel is a part of J. William Marriott resort chain. Further,
there are four types of innovation explained in the presentation that are invention innovation,
synthesis innovation, extension innovation and duplicate innovation. The company is going to
utilize invention innovation in the business environment so as to successfully increase the
satisfaction of customers (Salvioni 2016). As a part of entrepreneurial venture, the company
should focus on introducing a cruise segment in the business segment. This segment would help
the organisation attract more and more customers and retain them in the marketplace.