Entrepreneurship and Business Development: Feasibility Study and Marketing Strategies for Candies for You

Entrepreneurship and
business development

Table of Contents
INTRODUCTION : ........................................................................................................................3
TASK ..............................................................................................................................................4
Analysis of concept of effectuation, feasibility and causation study of new ventures and
exploration of relationship among entrepreneurship and innovation : .......................................4
Evaluation of competitors and STP analysis for opportunity gap in market place and
feasibility discussion of business :..............................................................................................6
Analysis of competition- The analysis of competitors of the organization for knowing the
main points affecting the operations of business. Candies for You will conduct the main
analysis of competition for leading the markets. The analysis of competitors for Candies for
You is stated below-....................................................................................................................6
Discussion of business model on the basis of relevant frameworks and concepts and
explanation of how this new venture works : .............................................................................9
Business and marketing strategies should be adopted by entrepreneurs : ...............................11
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION :
Entrepreneurship is the type of economic activity which is aiding in performance of the
business in a proper manner. It is important for entrepreneur for focusing on formulation of idea
of business for staying ahead in the competition. Entrepreneurship is also devised as main
activity of business which consists of focusing on developing of main operations of business for
fulfilling the needs and wants of consumers. The main aim of entrepreneurship and development
of business is for improving the sales and profits of organization. In this report, a idea of new
start ups of a Candy Shop is taken for developing the plan of business. 'Candies for You' is the
name for the shop and it will be situated at Westminster, England, UK. The business will give
benefit to consumers by providing candies of various flavours from all over the world. This
project will state the main dimensions of entrepreneurship and development with the application
of innovativeness(Akpan, 2021). It will also mention the different promotional strategies and role
for gaining competitive benefit. It will discuss the main quantitative and qualitative tools which
supports the company for management of activities and roles.

TASK
Analysis of concept of effectuation, feasibility and causation study of new ventures and
exploration of relationship among entrepreneurship and innovation :
Explanation of concept of causation and effectuation for conducting feasibility study of new
venture
In running of a business enterprise,causation is the main tool by which entrepreneurs aim
at achieving of pre defined goals and objectives instead of searching the ways for achieving
them. The chief function of causation is basically related to developing of important decision
which aids the company for delivering better practices in the environment which is static and
linear. The main focus of entrepreneurs is on taking the consideration for developing the main
decisions for new ventures of business. The causation topic is applicable when only if future is
easily predicted(Azizi and Mahmoudi, 2019).
Effectuation is the main techniques which aids the enterprises for developing the focused
approach for management of resources for improving the optimum use. Resources are also the
main part of enterprise helping in improving the possibilities of development and growth.
Candies for You department of operational management must focus on increase in the
participation of workers for developing the best practices of business. Effectuation aids in
improving the possibilities of strategic coalition and the marketing related strategies.
Feasibility study is the main approach which aids the enterprise for determination in future the
business will feasible or not. The study is developed as it aids in formulating of competence and
profits for venture. The study of feasibility for Candies for You is stated below-
 Conducting a primary analysis- In first stage of study of feasibility the primary analysis
for the new business is done. In it the business takes in consideration the main and key
points which are related to the nature of markets and consumers. The primary analysis is
the main frame work which aids the business enterprise for evaluating the main sources
of working of business(Chernopyatov and et. al., 2018).