Entrepreneurship and Business Development: Developing a Sustainable and Organic Soy Milk Product

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION...........................................................................................................................3
Explanation of the business concept including the key components of the concept statement. .3
Assessment of Industry, Market, Organizational and Financial Feasibility...........................4
Main components of value chain and business model canvas in relation to proposed business.7
Identification of risks and explanation of risk management................................................10
CONCLUSION .............................................................................................................................14
REFERENCE.................................................................................................................................15

INTRODUCTION
Entrepreneur is an individual who develops new business, bearing all the risks and
enjoying of rewards. The process of setting up of business is known as entrepreneurship. They
have the ability to establish, administer and succeed in the start up venture. A new organisation is
taken as base company where they launching new product. In this report, it cover the key
elements of concept statements such as product or service, target market, special attributes,
values, scale of the newly proposed business, location and other. Along with this, it also
includes assessment of industry, market organizational and financial feasibility. Moreover, an
assessment of value chain and business canvas with quantitative and qualitative models and
concepts are also mentioned.
Explanation of the business concept including the key components of the concept statement
Product description: The new product offered by the organization is Soy Milk which will
be made from soaking and grinding of soybeans. This product will help in supporting healthy
muscles and organs. It contain omega-3 fatty acids which is considered as healthy fats that the
body cannot form on their own (Costa and Pita, 2020).
Special attributes: This will be a new product for the organization to develop. They will
make sure to pack to in sustainable packaging and organic material. This will be the special
attribute of the product.
Target market: The target audience will be those who are lactose intolerance. People are
also switching to adopt veganism where they will only have plant based product. For the
organization, it would be beneficial to them while this product to these people.
Scale of business: The investment will be large for developing Soy Milk as soy will be
required which has to taken from farmers and grinding them. The organization will also make
sure to offer pack in sustainable package.
Location: The new product will be sold in UK and on different website. Also, the
organization will also introduce a store for selling (Kirby and El-Kaffass, 2021).
Who will be involved: The members such as employees, customers, suppliers and
investors will be involved.

Rationale for launching organic and sustainable skincare product: The UK is the
eleventh largest milk producer across the globe. There are around 12,000 dairy farms in UK and
they produced almost £15 billion liter milk each year (THE UK DAIRY INDUSTRY, 2020). It
has been predicted that there will be extra 210 m liters of milk by 2023-24 as compared to 2020-
21. There is an increased demand of milk is due to their reusable packaging to reduce plastic
waste.
The organization will be producing Soy Milk which is non dairy product. UK is the
global leader in plant based alternative. Plant based milk alternatives has achieved a success in
market £320.6 million in UK (From fresh alt milk to pea and coconut cheesecake: What is the
UK's 'next big think' in plant based?, 2021).
Assessment of Industry, Market, Organizational and Financial Feasibility
PESTLE analysis
Political factors: Brexit is the key factor which influence new start ups in the United
Kingdom.
Positive impact: There will be lower price because of Brexit which will enables
the new organisation to create stores at low price (Dana and Ratten, 2017).
Negative impact: There would labour shortage as there is less labour which will
automatically increase the labour cost for plant based organisation.
Economical factors: COVID 19 has create a huge impact on growth of start up
organisations.
Positive impact: Due to COVID 19, there is increase in demand of online
shopping which will helps the organisation to gain high sales.
Negative impact: COVID 19 has created a negative impact by halting the selling
of the new product.
Social factors: People are switching more towards plant based products and adopting
veganism.
Positive impact: The organisation will be able to attract more number of customer
as they are offering soy milk which is healthy.
Negative impact: The rise towards soy milk will increase in the competition from
dairy products.