Entrepreneurship and Business Development

Entrepreneurship and Business
Development

Table of Contents
Entrepreneurship and Business Development..................................................................................1
Introduction......................................................................................................................................3
Main body........................................................................................................................................3
The rationale for launching the business and its vision and mission..........................................3
Review of the industry and market with a clear demonstration of an understanding of the
variables in the external environment including a macro/micro analysis of the market place....4
Competitor analysis and highlight the competitive advantage of your product or service.
Explain the reasons why you think your product/service will be successful in this market.......5
Segmentation analysis, providing market statistics (size and growth) to support your selection
of the target segment/s. Who will buy this product/service and why?.......................................6
Marketing strategy, using the 4P’s of marketing:-......................................................................7
Market growth strategy...............................................................................................................8
Resources required for the venture including the source of finance ..........................................9
Risk analysis..............................................................................................................................10
Conclusion......................................................................................................................................11
References......................................................................................................................................11
Books and journal......................................................................................................................11
Appendix........................................................................................................................................12

Introduction
Entrepreneurship refers to the process by which new and innovative ideas which are not
implemented in market before is introduced to market with a specific motive which can be profit
making or any other commercial as well as social purpose. Business development consists of
interrelated ideas, initiative and activities that will help business or commercial organisation in
future growth and sustainability. The main aim of business development is augmenting
revenues, expanding business in various countries and region and reaching more and more
targeted customer. This report will include a new technology based innovative product and a
business plan for launching same product. The product innovated for the launch is a early breast
cancer detector which can easily be stitched in female inner wear. This report will cover rationale
behind launching the product, critical review of the industry to which the product belong,
competition analysis and understanding the unique selling point of the product. This report will
also cover marketing, operations and finance related information and details of the product.
Main body
The rationale for launching the business and its vision and mission
The product innovated for launch in the market is smart detector a chip that can detect cancer,
respiratory diseases and health related diseases timely. This nanotechnology chip can easily be
inserted in cloths as well as in sleepwear. Breast cancer, respiratory diseases and health diseases
are steadily growing with time in women and been very common in the women aged between 40-
45. Cancer is a dangerous chronic disease that can even take a person life if not treated timely
and accurately. The vision behind this product will be to detect cancer at early stage of tumor
development so that doctor can save the patient life from the cancer. The chip which can be used
in the cloth is a micro detector which emits ultrasound waves which can help in performing
Echography and hence detecting dangerous cancer causing cells. The ultra sound waves that is
released by the chip will form echo when come in contact with cancer causing cells and that echo
will be then detected by chip and thus the smart detector can able to detect cancer at early stage.
This chip can also help in detecting other health related issue such as problem in respiratory
system or problem related to heart by the same technique of ultra sound waves (Urbano, Aparicio
and Audretsch, 2019). The main mission of this product is to provide timely help to all those

women who are facing potential risk of developing breast cancer in near future. The product can
also solve a big social problem that have taken many life in recent years.
Review of the industry and market with a clear demonstration of an understanding of the
variables in the external environment including a macro/micro analysis of the market place
The product belong to healthcare industry where it can help in preventing many chronic diseases
timely and efficiently. Healthcare sector of UK is a huge sector and with time there are high
advancement in AI technology which are helping in tackling many diseases. The population of
UK is covered with national health system that monitor health care system of UK and this is
monetized and funded by general taxation and government budget of UK (González and Angulo,
2020). For understanding variable of of external environment for the product micro and macro
analysis should be done which consists of SWOT analysis for micro analysis and PESTLE for
macro economics.
SWOT analysis :
Strength:
1. The product is solving huge problem of
society related to healthcare. As the
chip can help in early detection of
breast cancer as well as other respirator
and health related diseases.
2. The product use advance nano
technology which will also help in
promotion of new nano technologies.
Weaknesses:
1. Nano technologies used in the product
might be inexpensive and thus every
women might not able to afford it on
normal price.
2. To make the chip small and insertable
in women cloths the complex
technology should be used for which
advance knowledge is required. There
might be only few expert available for
completing this project.
Opportunities:
1. With high growth rate in breast cancer,
respiratory diseases and heart related
diseases the product can be very useful
in tackling this problem and thus can
have high demand in healthcare sector.
Threats:
1. As these three diseases are very
increasing with time more and more
entrepreneur will try to copy the idea
and enter this industry which will
increases competition in market.