Report about Entrepreneurship and Innovation 2022

Running Head: ENTREPRENEURSHIP AND INNOVATION
ENTREPRENEURSHIP AND INNOVATION
Name of the Student
Name of the University
Author Note

ENTREPRENEURSHIP AND INNOVATION1
Executive Summary
The aim of this report is to establish a successful and innovative Business Idea.
Furthermore, it focuses on the methods used for the purpose of recruitment of employees and
procurement of raw materials. Finally, the focus shifts to Global market condition and market
acceptance. It will show a detailed study about the ways in which the funding is possible. At
last it will show the proper time to exit the business.

ENTREPRENEURSHIP AND INNOVATION2
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Rationale behind selecting the particular product..................................................................3
Market Opportunity................................................................................................................5
Business Model......................................................................................................................5
Team building process...........................................................................................................8
Recruitment Process...............................................................................................................9
Funding Process.....................................................................................................................9
Growth Strategy...................................................................................................................10
Exit Method..........................................................................................................................11
Conclusion................................................................................................................................11

ENTREPRENEURSHIP AND INNOVATION3
Introduction
Entrepreneurship maybe defined as a dynamic process, which involves designing,
creating and providing a product or service in order to conduct a uniform business in the hope
to make normal profit for further conduction of business. The process also involves
innovation, which helps the business to acquire a Unique Selling Proposition in order to
differentiate from other homogeneous and heterogeneous forms of business.
Innovation is a process of developing a new method, product or service to create a
point of differentiation in the hope of changing the ways of the world. Any example of a
successful business involves Innovation. If the discussion is about the most successful
business then names such as Google, Amazon, Apple and Facebook comes to the mind. If we
study their business in details then we can understand that the base of the structure infuses
innovation, and one of the greatest innovations the world has ever seen. So, more unique the
innovation, more is the level of success. But it should be noted that there are two sides of a
coin. The other side of innovation is risk. Bigger the innovation bigger is the risk. The world
have seen either great startups fail due to many reasons, the process of execution went wrong
or the perception of the innovator did not match the perspective of the innovation.
Discussion
Rationale behind selecting the particular product
The chosen product is ‘Mastic’ based edible and body wash products. The basic
reason for choosing this product range because it can cultivated only in Greece. This is due to
the climate and weather in the region, which is only found in certain regions of the country.
On the other hand, Mastic Resin has numerous medical benefits. Some of the benefits of
mastic resin are as follows: