Entrepreneurship and Business Development: Feasibility Study, STP Analysis, and Business Model Canvas

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 known to be the commercial practice that is being attained with the purpose
of generating money and it’s men goal is to gain more and more profit together with the
sustainability for the long period of time of the organization in the market area. At the
time of setting the new venture of the business in the market area the owner of the
organization requires to evaluate several elements which are related to the business in
order to accomplish the long term goals add objectives of the company. In addition to it
commercial businesses basically needed a large amount of investment in order to
establish it effectively and efficiently in the industry. This is also being evaluated with
the help of the research of the market that management should evaluate the
requirements as well as desires of their consumer base and they should also know that
the consumers are their major resources which they need to keep loyal. Structure of the
business are divided into 2 categories which are non profit organization as well as profit
organization. Resize several types of the legal structure which are sole trader, small and
medium organization, company, large organization add various more. Moreover to this
it says the organization in evaluating the capability of the people in order to operate the
operations of the business efficiently and effectively(Urbaniec, and et.al., 2022). The
idea of the development of the business can be represented as the short term as well as
long term plan which are stated at the time of launching of the organization in order to
attract large number of the investors which provide assistance to the company in their
success as well as growth for their long period of time. The following report is based on
the organization pool of chocolate which is situated in London United Kingdom.
Organization basically deals in selling homemade chocolates to their consumer base. In
addition to it the following report will cover about the suitable plan of business and
analysis of the market techniques. Additionally it will also involve about the business
and it’s every implication in the industry.
MAIN BODY
Determination of effectuation and causation & feasibility study for new venture as well as
exploring the relationship among innovation and enterprises :-
1

Effectuation and causation & feasibility have around 2 techniques which are known as the
effectuation and position in order to evaluate the activities and action of the organization for the
long period of time. In this position method refers to the ways as well as means in accomplishing
the pre evaluated goals and targets of the organization effectively and efficiently in the market
area. Whereas the idea of effectuation is linked to the actions and activities which focuses on the
examination of short term ideas and possibilities in order to carry out the sources which are
utilised in setting up the new venture in the market area. Moreover to this the commercial
businesses basically focus on creating several means as well as details in order to make helpful
opportunity in the market or the industry. The method which are utilised by the entrepreneur in
order to evaluate several elements which influence the commercial businesses and that impacts
the respective organization is described below in brief. (Teshabaeva, Abdullaeva, and
Aminjonova, 2022)
1. Conduct preliminary analysis - This is the first level of feasibility that involves
resources, time, efforts, ideas as well as screening of the business plan that provide
assistance to the company in its development and long term growth. The following
researches also conducted for the respective organization pool of chocolate and it has
been evaluated that it is the most appropriate concept for the businesses that are operating
in small scale. In addition to it the study also evaluates that a large consumer in the
market of the United Kingdom where basically more people use chocolates that are made
of homemade which enhances the involvement in according to utilise the products and
goods for a long period of time. Additionally the new venture plan which is known as
startup does not needed major level of capital and it can act as the major advantage for
the company by attracting large number of the consumer base of United Kingdom
towards the organization .
2. Preparation of projected income statement - After the first level of this method liability,
expenses and income of the business are examined by the organization. These elements
are known to be very essential for the company in order to evaluate the fiscal condition of
the commercial business. This has also been anticipated that the income that is generated
is ability of the new commercial business.
3. Conduct market survey - Conducting the survey of the market is another level of this
method and it is very essential in order to evaluate the buying capability and capacity of
2