Entrepreneurship and Business Development

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION.......................................................................................................................................3
Rational for business...............................................................................................................................3
External Analysis....................................................................................................................................3
Competitors Analysis..............................................................................................................................5
Segmenting, Targeting, Positioning.........................................................................................................6
Marketing growth strategy.......................................................................................................................8
Resources required for business..............................................................................................................9
Risk analysis..........................................................................................................................................11
CONCLUSION.........................................................................................................................................12
REFRENCES............................................................................................................................................13

INTRODUCTION
In current world, there are ample of new business and startups take place in order to bring
innovative as well as creative ideas in market place. Main aim behind these startups is to earn
substantial profit margin and also provide unique services to customers in order to enhance their
current living standards (Acs, Szerb and Autio, 2017). The present report is based on starting a
business named as digitize to provide effective digital solution to clients. Main aim of this entity
is to assist clients to formulate unique marketing campaign, prepare effective websites, engaging
content for betterment of business. The uniqueness of new venture is to provide customized
services to all clients as per their requirement. The report comprises environmental analysis of
company along with along with competitors and market analysis. In addition, STP approach has
been discussed in the following report. Marketing strategy by applying marketing mix is also
included in the following report along with the strategies of market growth and success. Lastly, it
includes a risk model to identify different risks associated with business.
Rational for business
It is sated that now each and every business personnel is likely to use digital techniques to take
their business to the next level. But all the individuals do not posses required knowledge and
competency to use digital way (Edoho, 2016). So, the present business venture has a great scope
of growth and success as it will provide complete digital solution to clients. So the business has
potential to driven higher revenue that is vital to ensure long term sustainability of company in
market. Further, it will focus on providing highly customize services to clients that will help to
distinguish organization with other companies present in market.
Vision: “To provide unique as well as innovative services to clients to maintain their
higher level of satisfaction”
Mission:“To become a leading tech based company that will provide complete solutions
of digital problems faced by clients in order to earn substantial amount of revenue and profit”

External Analysis
There are ample of factors present in external environment which need to consider by
entrepreneur while undertaking a new business venture. Some factors of macro environmental
analysis are given as under:
Political factor: It comprises different elements such government policies, legislations,
change in current government and more. It is monitored that technological industry is highly
affected with political environment as with change in government there is also change in current
policies, guidelines. So, in case of new business venture, it is imperative to analyze prevailing
political conditions within country and prepare strategies accordingly.
Economical factors: These elements are related to interest rate, demand, supply, cost,
employment rate and other factors. It is sated that economic condition of country also affect
business performance in significant manner. Now, government has positive attitude towards
technology development & enhancement thus they provide appropriate support through subsidies
as well as grants in order to promote technological enhancement. So, the new business venture
has a great scope to enlarge current level of sales and profit margin (Turgunpulatovich and
Bulturbayevich, 2020).
Social factors: Now, customers are highly inclined towards technology so there is a great
scope for tech based companies to enhance their business. In addition, customers have positive
attitude towards online marketing techniques that is vital for growth and sustainability for current
business venture.
Technological factors: In current business world, technology plays a crucial role in
business. There are a lot of softwares, tools are used in companies for ease out business functions
and get competitive advantage. To sustain in market, it is imperative to remain ahead in terms of
technology. There are ample of new as well as advance softwares and tools will be used in nee
business venture to provide effective services to clients.
Legal Factors: It comprises different legislations, rules, regulations that have been
formulated by higher authorities to keep control over business. In addition , these rules are also
helpful in running business in smooth manner. There are laws such as data protection act, health
and safety act at work place 1974, consumer protection law and more. It is analyzed that business