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Entrepreneurship and Innovation Assignment

   

Added on  2021-06-14

16 Pages3915 Words28 Views
FinanceLeadership ManagementEntrepreneurshipPolitical Science
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Running head: ENTREPRENEURSHIP AND INNOVATIONEntrepreneurship and InnovationName of the Student:Name of the University:Author’s Note:
Entrepreneurship and Innovation Assignment_1

1ENTREPRENEURSHIP AND INNOVATIONExecutive summaryThis report highlights the business venture for Saygin Yalcin the German entrepreneur andbusinessperson. Saygin Yalcin created a website that provides an opportunity for people to selltheir cars in just 30 minutes. The idea proposed by Saygin Yalcin is unique and creative, asselling cars in just 30 minutes was next to impossible.
Entrepreneurship and Innovation Assignment_2

2ENTREPRENEURSHIP AND INNOVATIONTable of ContentsIntroduction......................................................................................................................................3Discussion........................................................................................................................................4Capital sources for the new ventures and methods of obtaining the capital source........................4Types of business ventures..............................................................................................................6PESTLE analysis of German market...............................................................................................7Risks of the chosen business venture.............................................................................................10Conclusion.....................................................................................................................................12References......................................................................................................................................13
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3ENTREPRENEURSHIP AND INNOVATIONIntroductionThe success of the innovative and creative business idea is largely influenced by thebusiness venture selected particular entrepreneur. As commented by Drucker (2014), the conceptof business venture highlights the start-up entity developed with the intention of incurringfinancial profitability. Conducting business in the same country results in market saturation, as asimilar type of business organization seems to rise over the longer period. Thus, the businessorganizations opt for business ventures that provide them with the opportunity of invading newmarket thereby, ensuring profit maximization. The majority of the business ventures are createdby considering the demand of the market. In other words, lack of supply in the market facilitatesbusiness ventures (Brenkert, 2017). The concept of entrepreneurial business venture highlightsthat the individual is responsible for the business idea, planning along with potential risks in theprocess of business venture. In the case of the entrepreneurial business venture, the ventureincludes new product rather than considering the existing business model.This report highlights the business venture for Saygin Yalcin the German entrepreneurand businessperson. Saygin Yalcin created a website that provides an opportunity for people tosell their cars in just 30 minutes. The idea proposed by Saygin Yalcin is unique and creative, asselling cars in just 30 minutes was next to impossible. Post the launch of the website, the idea hasbeen widely recognized and accepted and the YouTube channel of the entrepreneur has anestimated 200,000 viewers. After being accepted widely, Saygin Yalcin aims towardsundertaking suitable business ventures for expanding the business in German market byreviewing the capital sources and methods of obtaining them along with challenges anddifficulties of the selected venture and the risk that is involved.
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