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Entrepreneurship and Innovation (PDF)

   

Added on  2021-05-30

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Running head: ENTREPRENEURSHIP AND INNOVATIONEntrepreneurship and innovationName of the StudentName of the UniversityAuthor note
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1ENTREPRENEURSHIP AND INNOVATIONExecutive SummaryThe purpose of this report is to analyze a new business venture. The selected business venture forthis report is the Yarri restaurant. The report will include the capital sources required for theestablishment of the Yarri restaurant along with their origin. Apart from that, this report will alsocontain the PESTLE analysis of the Yarri restaurant which is located in Australia to find out thepotential challenges and difficulties faced by it. Finally, the potential risks of the Yarri restaurantwill also be discussed in this report.
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2ENTREPRENEURSHIP AND INNOVATIONTable of ContentsIntroduction......................................................................................................................................3Discussion........................................................................................................................................3Description of the Restaurant business........................................................................................3Capital sources for the restaurant and methods of obtaining them..............................................4PESTLE Analysis of the Yarri Restaurant..................................................................................5Potential risks in Restaurant Business.........................................................................................9Conclusion.....................................................................................................................................10Reference List:...............................................................................................................................11
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3ENTREPRENEURSHIP AND INNOVATIONIntroductionA business venture can be defined as a startup business which is established by a singleor a group of individuals with the intention of getting profited financially. A majority of thebusiness ventures are created based on the demand of the market. Requirements of theconsumers are identified for the products or services in order to deliver consumer specificservices or products. This is done to enhance the satisfaction of the consumers. In this report,analysis of a restaurant business which is a new business venture will be performed. A briefdescription of the Restaurant business will be provided in this report. Along with that, the chiefsources required for the mentioned business and the method of obtaining them will also bediscussed here. The challenges and difficulties faced by the mentioned venture with respect tolegal, technological, political, economic, environmental, social and cultural challenges have alsobeing discussed in this report. The potential risks of the mentioned business venture will also beidentified. Discussion Description of the Restaurant businessA Restaurant business chiefly involves preparation and serving of food and drink items inexchange for money. The ‘Yarri’ restaurant is a new restaurant which has been established byChef Aaron Carr who is a well-recognized chef of Australia. The restaurant has been establishedin conjunction with the winemakers of Snake and Harring. In order to gain the loyalty of thelocal Noongar people, the menu of the Yarri restaurant chiefly features sustainably sourcedingredients. In order to provide a ‘close to the nature feeling’, the restaurant provides both
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