Entrepreneurship and Business Development: Feasibility Study, STP Analysis, and Marketing Strategies

Entrepreneurship and
business development

Table of Contents
INTRODUCTION ........................................................................................................................1
MAIN BODY ...............................................................................................................................1
Determination of effectuation and causation & feasibility study for new venture as well
as exploring the relationship among innovation and enterprises :-........................................1
Connection among innovation and entrepreneur - ..................................................................3
Classification of rival and STP analysis for measure the chance gap in marketplace and
discourse about feasibleness of concern.....................................................................................3
STP Analysis -.............................................................................................................................4
Describes regarding feasibility of new venture - ....................................................................5
Drafting on Osterwalder’s business model canvass and Porter’s value chain, discuss your
proposed concern model and explicate how and why you think your new undertaking will
work.............................................................................................................................................5
Business and marketing strategies should be adopted by entrepreneurs.....................................7
Basic mistake made by businessman...............................................................................................9
CONCLUSION ..............................................................................................................................9
References:.......................................................................................................................................9

INTRODUCTION
Business is the commercial activity which is being done with the aim of making money
and its major aim is to make a profit along with the long term sustainability of the company in
the market place. While setting a new business in market the owner has to analyse the various
factors that are as location, place, customers spendings and many other things. Whereas
business is required a huge amount for establishment of an industry. It is being analysed by the
study of market that marketer must understand the needs and wants of the buyer most
importantly they must understand that customers are the major asset for business. Business
structure have two category just as it can be profit organisation or can be non profit
organisation (Jakůbek, ,2018). It also has various kind of legal structure just small medium
enterprise, big company, sole trade and many others. It assist in analysing the ability of an
individuals to run the business effectively and more impressively. The concept of business
development can be stated as long term and short term plan that are setted to attract users
values and investors that support in the growth of the business. In this report will launch a
new business of home made chocolates that is named as a pool of chocolates in UK London.
This report will cover the business plan and market analysis strategies. Also it will cover the
business and its implication in venture (Jukova and et.,al., 2019).
MAIN BODY
Determination of effectuation and causation & feasibility study for new venture as well as
exploring the relationship among innovation and enterprises :-
Entrepreneurial has the basically two strategies that are termed as causation and
effectuation to analyse the action of the company. The causation process serves means and
ways in attaining pre analysed aims and objectives of the business. These both strategies are
effective tool to survive in the rivalry market, it means accessibility of any of tools
provides huge opportunity to clear thoughts to process with the fixing up of business. The
decision making approach is basically utilised to ascertain the business surrounding as it is
considered as contingent and risk. As per the approach business makes strategy and
policies to execute in new business. The structure plans must be concentrate to provide
impact to the uncertain up coming approach. Causation approach is best suitable when
future is analysed in an accurate ways (Lao and Wu, 2018,).
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The concept of effectuation is related as a practice that concentrate on determination of short
term plans and chances to reach out the sources in setting up new business firm. The
business majorly concentrate on making new means and details to create useful market
opportunity. Along with the assistance of effectuation approach , new market place could be
make to build network of people who assist in making the manner to attain success in the
rivalry market (Hussain, 2019). It is an effective instrument via which it can be determined
whereas causation assist in raising education from multiple sources of rivalry benefits.
Feasibility study aims to assist in ascertain whether the plan is viable in present business
situation or not. This theory aims to determine accountability and productivity of a present
business or not. This instrument is used to entrepreneur to analyse various factors that
impact the business firm of pool of chocolate is listed in below -
1. Conduct preliminary analysis - it is the initial stage of feasibility includes screenings
of business ideas and effort, time and resources that support in its growth . The study
is also run for pool of chocolate and found as better idea for small scale businesses.
Also the study finds a huge users market at the UK, where people utilise home made
chocolates and improves involvement to use the goods. The new business plan start
up don't required huge capital has a one of the benefit of attracting huge buyers base
of the united kingdom.
2. Preparation of projected income statement - after the initial analysis business income ,
spending and liability are evaluated. These are the crucial components to analyse the
financial position of business. It also estimated the income generated capability of
the new business venture.
3. Conduct market survey - this market survey is crucial to analyze the geopgraphiacal
edges of users, buying capacity of the capable users. It has been determined the
market equity of chocolates is growing well .
4. Planning business operations - it is also included as important components to plan
the activities for regular operations , value of activities that are to be occurred in
fixing up business activity . According the new start up business, pool of chocolates
puts extended efforts and make plans to analyse the capital and details.
5. Review and analyse collected data - the review details assist in gathering and
modify data of the accessibility of wants and needs of the users. In case of pool of
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