Entrepreneurship and Business Development

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
The rationale for launching the business.....................................................................................1
Review of the industry and market with a clear demonstration of an understanding of the
variables in the external environment.........................................................................................2
Competitor analysis and highlight the competitive advantage of your product or service.........3
Segmentation analysis, providing market statistics of the target segments. ..............................4
Market growth strategy...............................................................................................................6
Resources required for the venture including the source of finance ..........................................7
Risk analysis and how those risks will be treated.......................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Business development and entrepreneurship are two sides of the same coin. Having said
this, it is easy to comprehend the minute difference that exists in the two terms. Business
development is a compilation of various activities like market analysis, risk calculating,
planning, and executing all these tasks. Developing a business through conventional business
practices like building strategies, constantly keeping up with the market competition. managing
sales, marketing, product management are one of the key practices of business development. On
the other side of the coin is entrepreneurship, practices by an entrepreneur who is keen towards
opportunities and risk associated existing in the market (Shadibekova, 2020). An entrepreneur is
always looking at creating a new business by analysing the needs and demands of majority along
with keenly observing the problem faced by them and providing a solution for the success of the
business. Other words for an entrepreneur are innovator, problem solver, risk taker etc. and the
activities performed by an entrepreneur combined all together are constituent of
entrepreneurship. In this report a market analysis is done for a start-up company “Plastecrete”.
The start-up is based on a idea of using the recycled plastic as concrete because of the durability
and similarity in the nature of recycled plastic.
MAIN BODY
The rationale for launching the business
Plastic, in its earlier stages of existence was famous for its multipurpose usage and low
cost production which lead to a boom in its production. Numerous factories and manufactures
found various ways in which the man made material can be used, resulting in the 8.3billion
metric tons of plastic product and almost an estimate of 6.3 billion metric tons ending as a
wasted. Today plastic is also known as the worlds biggest problem as over the last century this
non biodegradable material have neither decomposed not broken down into any other form.
With this durability against all the natural forces the idea of the company Plastecrete is to only
recycle the plastic around world to give a harder form and through its effective usage as the
replacement of concrete the world never have to think about recycling it ever again (Doern,
Williams and Vorley, 2019). The company mission here to offer the world an effective solution
to a problem existing all over the globe. Looking at the ever expanding cities and urbanization of
land, rigidity and solid concrete is the first thing to be observed. Plastecrete is the solution
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through the combination of two problems as there is unimaginable amount of plastic waste
present in the world and also a huge demand for the concrete with the constant increment in the
size of cities.
Review of the industry and market with a clear demonstration of an understanding of the
variables in the external environment
For any business to grow the risk involved in external and internal factors of the company
play a vital role as they not only give a blueprints of the problems that the company will face
from its first day but also give a fair chance to solve them before they come into existence. Such
an analysis becomes extremely important in case of a start up. Hence through the PESTLE
model; following is a brief analysis of factors involved with the Plastecrete,
Political: Entire world currently is dealing with the problems faced due to environmental
issues and plastic is one of the major cause of it (Mitra, 2019). From U.N. to European Unions
every developed country is making efforts to stop the harp caused by man made materials.
Plastecrete being the solution provider to a problem of this extent has a first mover advantage.
This idea not only has acceptance potential in the home country but given the good relation of
UK with US, Japan and European countries after the final agreement of Brexit, other countries
are also expected to support the initiative by the company.
Economical: The economic condition of every nation is heavily impacted due to lock
down and its after effect and UK is no exception to these consequences. But each and every
heavily impacted industry is expected to gain the speed equally as soon as the economic
condition will return to normal.
Social: Societies around the world are becoming more and more environment friendly
and with this change in the mindset the present time seem to be the best for the execution of the
idea buy Plasticrete. As several measure and appeals are in trend among societies not juts in UK
but also around the world, the introduction of the basic idea of the replacing the concrete with the
recyclable plastic is expected to be widely accepted.
Technological: Technology plays the most important role in the success of the business
idea chosen by Plastecrete. With the world growing more in the same direction as the startup,
availability of enough technology for the execution is not a problem (Kraus and et. al., 2018).
This situation of the market and availability of enough resources are just enough for the
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