Entrepreneurship and Business Development

ENTREPRENEURSHIP AND
BUSINESS DEVELOPMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
2. Feasibility study for new venture concept...............................................................................3
3. Competitive and STP analysis to critical explore the opportunity gap in marketplace...........5
4. Discussion for prposed business model in which it will work effectively and takes place.....6
5. The marketing strategies of The Gifting Tree to find success.................................................8
6. Planning tools, financial techniques and decision-making models used to mitigate the risk
factors...........................................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Business plan refers to the road map which drives the business towards the positive
directions and makes it easier to identify the future outcomes for better growth opportunities.
Also, the time which is spent in planning business with accuracy forms the business with up to
date information and investment that pays off big dividend in long terms.
The purpose of this is to carry out the study for new business start up i.e. Customized Gift
and reflect the view on the entrepreneur are engines of innovation and creativity. Further, it will
evaluate the STP analysis for conducting the opportunity gaps in the marketplace. It would
discuss the Osterwalder's business model canvas and Porter' value chain which will evaluate the
business model on how new venture will work effectively. Apart from this the business and
marketing strategies will be discussed that must be followed by entrepreneur for better growth
aspect in future and making the corrections which is made by entrepreneur. By the end of report
it would analyse the financial techniques, decision-making model and planning tools should be
considered for effective terms in mitigating risk factors.
MAIN BODY
2. Feasibility study for new venture concept
The purpose of conducting feasibility study is to analyse assessment of practicality for
proposed plan and project. Also, this study evaluates the viability of project for determine
whether project or venture which is likely to succeed (Hills and Morris, 2018). For conducting
this feasibility study there are some useful frameworks that will used for the business. For the
start-up of The Gifting Tree, SWOT and PESTLE analysis will be used.
SWOT analysis -
Strengths
The strengths are the major concern for the business to enhance the efficiency of work, so
the better planning and financial sources will be the major strengths for business. These
strengths would be the key sources by which business can make to achieve the aim and
objectives.
Weakness
Having lack of market research as well as lack of skilled working employees could
develop the weaker aspect for business productivity of work and reflect in negative manner.
Opportunities

The new technological advancements would be the best opportunity for customized gifts
venture which would reflect in form of developing better plans and ideas for future.
Threats
The major threat impact ca be provided by competitor in markets and similarly the
change in behaviour of consumer related to purchase will immensely impact and drive to the de
growth in market share.
PESTLE analysis –
political factor -
All of sudden change connected to trade policy, political stability and some other terms
can reflect disadvantage for The Gifting Tree. In order with same increasing amount of stress
which drive entrepreneur aid for strategic preparation that is necessary.
Economic factor -
This factor will be beneficial for new venture which allow the organization to enhance its
productivity as well as profitability by taking chance in provision of service to customers. Thus,
entity can make profits by generating revenue by availing facility for potential customers who
make interest in buying customized gifts products like cards, gifts, mugs, watches etc.
Social factor -
By going through the demand of customers as well as trends of market will be social
factors, it will positively impact on The Gifting Tree. On the same note company will
manufacture customized gifting products according to people choice which will fulfil their
needs.
Technological factor -
The technological progress impact over productivity and management performance of
organization. It is to drive the attention to the digital marketing technologies which would be
supportive to get the target audience attention (Issa and et.al., 2018). The use of social media
will be highly effective to gain the customers interest and provide them information regarding to
offerings in which it generates the valuable image in new market.
Legal factor -
the several changes in business operations, marketing and consumer safety are legal terms which
may drive negative impact on the performance and practices of entrepreneur. The work pressure