Entrepreneurship and Innovation in Business

Entrepreneurship and Innovation
Student’s Name:
Teacher’s Name:
University:
Date:

Table of Contents
1.0 Executive Summary...................................................................................................................4
2.0 Introduction................................................................................................................................5
3.0 Business Venture Description....................................................................................................5
4.0 Management..............................................................................................................................6
4.1 Operational Management.......................................................................................................6
4.2 Legal Structure.......................................................................................................................6
5.0 Marketing...................................................................................................................................8
5.1 Target Market........................................................................................................................8
5.2 Strategy for Communication..................................................................................................9
6.0 Competitor Analysis..................................................................................................................9
6.1 Competitive Rivalry...............................................................................................................9
6.2 Threat of New Entrant.........................................................................................................10
7.0 Financial Analysis...................................................................................................................10
8.0 Risk and Challenges................................................................................................................12
8.1 Foodborne Illness.................................................................................................................12
8.2 Injuries in the workplace.....................................................................................................12
Reference List................................................................................................................................13
Appendices....................................................................................................................................15
Appendix A................................................................................................................................15
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1.0 Executive Summary
The finest and delicious of all the food in Australia can be found in one place, which is Pier One
Sydney Harbor. It simply promotes living with breathtaking views. One of the most effective
parts of the hotel is that it is built over water and creates a unique living experience. The hotel
provides a unique view for the guests, who will be staying in the premium hotel. However, the
effective use of an in-built catering system into the property of the hotel will bring in innovation
and entrepreneur growth.
In respect of the growing competition in the Hospitality sector, most of the large companies are
trying to improvise with the rational implementation of quality entrepreneurship skills and
innovative designs. The catering market in Australia is growing rationally and opens up a new
direction for the growth of Pier One Sydney Harbor. In respect of the present bar system,
restaurants and different events, the hotel tends to improvise and enter the catering market, with
a service for providing food to different cities. The catering service will follow the structure of a
private limited company and rational improvement can be attained shortly. The company will
target the market of Australia and the USA and will use social media and the hotel service to
improve communication. The level of competition in the catering service is quite large in
Australia. The venture will be financed with the effective use of angel investor and
crowdfunding. The return of capital is effectively better than the industry average, which makes
it a lucrative venture.
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