Entrepreneurship and Business Development: Strategies for IdeaFusion Consulting

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship and Business Development refers to the use of methods and techniques
through which the management of the needs and requirements of the Business can be done
appropriately(Abebe and Gebremariam, 2021). Therefore, it is quite important that the
management can be done by the Businesses quite effectively and efficiently. It can be quite
helpful for the Businesses because they will be able to attain the goals and objectives. In this
report, focus will be made on the ways which can be used for attaining the goals and objectives.
MAIN BODY
Business Idea and Market Entry Strategies-
The Business Idea which has been chosen is Consulting. Consulting Businesses are
nowadays in high demand and therefore it becomes quite important that the right approach can
be used for the particular purpose of managing needs and requirements (Akimov and et.al.,
2021). Therefore, the Business which has been proposed to be launched is IdeaFusion Business
Consulting. It is a Business Organization which provides its services to the customers and
clients. There are various types of Market Entry Strategies which can be used by the different
types of organizations. These can be explained as follows-
 Direct Exporting- It is a strategy in which the entry into the market can be obtained by
ensuring that the management of the particular level of needs and requirements of the
customers can be done. This can be ensured through ensuring that the different types of
customers can be targeted in a proper manner and thus the enhancement in the overall
level of efficiency and effectiveness can be carried out in a right way (Akpan, 2020).
 Licensing- It is a strategy where the rights of using a product or service is provided by an
organization to another organization. Therefore, in this way it can be stated that the
appropriate use of this particular strategy can be made so that the organizations are able
to ensure that they can help in the attainment of the goals and objectives.
 Franchising- In this particular strategy, the organizations can make sure that they are
able to appropriately target the market quite effectively and efficiently. Thus, in this way
it can be stated in this strategy an organization provides the rights of operating a business
to another organization. This will therefore help in ensuring that the management of the
needs and requirements of the Businesses can be done quite appropriately.
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 Buying a Company- It is a market entry strategies through which the Businesses can
make sure that they are able to appropriately manage the different types of needs and
requirements. This strategy can help them in becoming successful in the market and thus
enhance the overall level of profits in quite a proper manner so that the attainment of the
future goals and objectives can be carried out in quite a right manner which will be
helpful.
Justification- Franchising is a mode which can be used by IdeaFusion Consulting to be able to
make sure that it can effectively and efficiently manage out its different types of needs and
requirements in quite a proper manner. Therefore, it is quite important for the Businesses to
make sure that the use of this particular mode can be made so that the entry can be gained in the
market in a right way which will be quite useful in enhancing the overall level of efficiency and
effectiveness in a proper manner. This will help in the attainment of a strategic and competitive
edge over the different types of competitors. This will be helpful for the Businesses.
Rationale for launching the Business-
It is quite important that the proper and detailed analysis of Rationale for launching the
Business can be done quite effectively and efficiently in a right manner. Thus, it is highly
necessary that the appropriate analysis of Rationale can be carried out in a proper way. The
Rationale for launching the Business can be explained as follows-
 Targeting the customers- It is important that the targeting of the customers can be
carried out so that the Businesses are able to become successful in the future in quite a
proper manner. IdeaFusion Consulting is therefore required to make sure that it can
appropriately target the Businesses which require making the use of these consulting
services (Angheluță and et.al., 2020).
 Attaining a strategic and competitive edge over the competitors in the market- It is
highly necessary that the attainment of a strategic and competitive edge over the
competitors in the market can be obtained so that the management of the needs and
requirements can be carried out. In the context of IdeaFusion Consulting, it is therefore
quite important that the attainment of the strategic and competitive edge can be done
which will thus help a lot in enhancing the overall level of efficiency and effectiveness.
 Growth in the market- It is important to make sure that the Growth in the market can be
achieved which will therefore be quite helpful in ensuring that the Businesses can attain
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