Entrepreneurship and Business Development

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
The rationale for launching the business and its vision and mission..........................................3
Macro/micro analysis of the market place- PESTEL Analysis..................................................3
Competitor analysis and highlight the competitive advantage- Porters' five forces...................5
Segmentation analysis, providing market statistics (size and growth) to support your selection
of the target segment/s................................................................................................................6
Marketing strategy- marketing mix analysis...............................................................................7
Market growth strategy- Ansoff model.......................................................................................8
Resources required for the venture including the source of finance...........................................8
Risk analysis and how those risks will be treated.......................................................................9
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Entrepreneurship is a business conduct in which an individual set up its business by planning
accompanied with limited resources and takes into account all risks and rewards earned. This
conduct involves the development of business venture by evolving new product in the market.
The main aim of this conduct is to achieve high return by equally enjoying the uncertainty.
Whereas, business development led to the formation of strategies, ideas, innovations and other
related activities in order to make business effective and efficient. Thus, developers should be
aware of changing environment and new opportunities in the marketplace. The process involved
in the business development help to achieve profits for long term along with growth and success
(Iacob and Hristache, 2017). The report examines the business plan in respect of new business
venture followed by mission and vision statement. Also appropriate model is used to analysis the
competitive market which includes STP strategy and Marketing tool. Further sources of fund
along with risk analysis is also conducted below.
MAIN BODY
The rationale for launching the business and its vision and mission
The business plan proposed is a new cafe which will be named as Cafe above Clouds. It
will give the experience of hot air balloon. The customer will enjoy their meal in air along with
landscape scenes and beauty of London. As the city of London need to be appreciated from the
sky. The prime area of cafe will be near the river Thames in London, United Kingdom. The
experienced pilots will give the memorable flight of air balloon along with variety of dishes
which will be served to customers. The cafe will be multi cuisine involving numerous dishes that
will give customer a happening joy. The location near holy river Thames will be the place from
where the customer will begin their experience. The small cafe will also be set up on the location
for people to wait for their chance and to enjoy the view. Further other activities like boating,
fishing will also be provided to customer in order to make their experience valuable.
Mission
The mission of this cafe is to provide moment of life experience to customer along with
the proper safety. The cafe also aims to attract customers in order to achieve the desired goals
effectively and efficiently (Petrakis, 2020).
Vision
The vision is to build a customer oriented business and to attain sustainability in the
market by providing valuable experience accompanied by quality services.

Macro/micro analysis of the market place- PESTLE Analysis.
The external environment can be analysed with the help of PESTLE mode of analysis
(Mosbah and et. al., 2020). The model is the acronym of factors Political, Economic, Social,
Technology, Legal and Environmental/Ecological. In context of Cafe above Clouds, PESTLE
analysis is shown below:- Political- The Cafe above Clouds must adhere with the policies and regulations
formulated by the government. Tax reforms and health regulations must be strictly
adhered. The café need to be updated with the regulations in order to sustain in the
market. Economic- There are many economic factors which affects the working of the
organisation. The most important factor are health and inflation in the economy. The cafe
need to employ limited employees in order to maintain minimum wage. Further health
factor need to be determined strictly in this situation of pandemic. The factors need to be
updated to achieve the organisational goals effectively. Social- The changing trends and needs of the customers such as increase in the
consumption of organic food etc. Such needs to be taken care of in setting food menu.
The aim of the cafe is to attract new customer by satisfying their needs. Further the cafe
values the local culture of customers. Technological- The Cafe above Clouds encourages the pace of technology rather than
relying on old approaches. The cafe ensures the customer instant access to menu by
scanning the QR code. Further enables the customer to order instantly. These touch less
menu will help to avoid the spread of Coronavirus. Also will help in increasing the
market share for the business (Öz, 2019). Legal: The Cafe above Clouds is required to follow the regulations formed by
government especially in respect of health and safety and others in order to avoid legal
consequences. For example Liquor licensing etc. Environmental- The Cafe above Clouds must encourage the environment in order to
create positive image in the market. Using biodegradable packaging for food packing
instead of plastic. The pollution level need to be checked while flying hot air balloon.
These environmental regulations need to be compliance to attain growth and success for
long term.