Entrepreneurship and Business Plan for a Cake Studio - Desklib

This presentation discusses entrepreneurship and the process of generating a business idea for a cake studio. It covers feasibility studies, potential market opportunities, and the attractiveness of the industry. The vision for the business is also discussed.

ENTERPRISE AND
ENTREPRENEURSHIP

TABLE OF CONTENTS
• INTRODUCTION
• MOTIVATION FOR CHOICE OF BUSINESS
• PROCESS FOLLOWED FOR GENERATING BUSINESS IDEA
• FEASIBILITY STUDIES CONDUCTED
• DETAILS OF PRODUCTS/SERVICES OFFERED
• POTENTIAL MARKET OPPORTUNITIES
• ATTRACTIVENESS OF INDUSTRY
• VISION FOR BUSINESS
• CONCLUSION
• REFERENCES

INTRODUCTION
• Entrepreneurship is the creation of value and is art or science of
innovation and risk taking for generating profits in business.
• Enterprise is the company, business which performs various
functions that can be helpful in making business more profitable.
• The PPT will be the medium of showcasing my new business
plan where a cake studio which will be operated launched under
the label of “Sweet tooth” and will be offering a diverse range of
products through which the finest quality of cakes and pastries
can be offered.

MOTIVATION FOR CHOICE OF BUSINESS
The purpose of choosing the idea of opening a cake studio is that the venture will be offering a variety of
cakes and pastries which is made of products of finest quality through which products of high quality
standards can be offered to customers.
This venture will be operated with the mindset of offering variety of cakes which will be made of finest
quality of ingredients that can ensure the quality standards of products can be maintained. Some of the
reasons behind opening a cake shop is:
• To make use of quality raw material
• To bake own bread by avoid using already baked bread
• To offer quality products to community

CONTD.
Solving a problem:
• The demands of cakes and confectionery items have been increased and this can be helpful in
creating a new business venture where fresh and quality products and services can be delivered to
customers.
• The venture will be focusing on bringing differentiation to the brand through which they can
understand the value of fresh and local product that are used.

PROCESS FOLLOWED FOR GENERATING
BUSINESS IDEA
Idea generation is the process of creating, developing and communicating
ideas which can be helpful in identifying the problems and finding innovative
solutions that can resolve such ideas. The process which is followed for
generating the business ideas are discussed beneath:
• Brainstorming- It is the process of finding various solutions for a specific
problem that is possible. The brainstorming activity can be done
individually or within groups.
• Mind mapping- It is a visual framework which outlines the task, items and
concepts which are related to the concepts. This approach will be helpful in
organizing and categorising the ideas faster through which the relationship
between concepts can be determined.

CONTD.
• SCAMPER technique- This is another approach of idea generation
and creative thinking which focuses on determining the problem
• Focus groups- Focus group is a research approach which is used by
gathering data through group interaction. In case of Sweet tooth, the
venture will be following focus groups approach in which a group
of people will be discussing the purpose, issue and solutions of the
company.
• Market/Internet research- The understanding of market is
essential before starting a business venture though which the
organization can understand the consumer market trends and
dynamic business environment.

FEASIBILITY STUDIES CONDUCTED
• The business idea of starting a new venture of a cake shop, the venture will be offering products of
higher and finest quality where the brand will be making use of finest raw materials which can
make consumers aware about the freshness and originality of the products.
• The business venture will be focusing on targeting the consumers by spreading the awareness about
the right raw materials which must be used through which quality standards can be maintained.

CONTD.
In order to understand the various factors, the cake venture Sweet tooth will be performing a STP
approach which is discussed beneath:
STP
• Segmentation- Segmentation is the approach of classifying the market into distinct groups of customers
on the basis of their similarities and differences.
• Targeting- This is another stage of this marketing process which focus on targeting the selected market
segment through which conversion rate can be increased.
• Positioning- This is the last stage of the process which allows companies to set products and services
through which they can meet consumer demand at right time and right place.

DETAILS OF PRODUCTS/SERVICES
OFFERED
The products and services which will be
offered by Sweet tooth are listed below:
Products- The business venture Sweet
tooth, will be offering a diverse range of
products which will are discussed
beneath:
Sweet tooth
CAKES
Butter cake
Chocolate cake
Sponge cake
Biscuit cake
Carrot cake
Gluten free chocolate cake
Lemon layer cake
CUP CAKES AND MUFFINS
Apple pie cupcakes
Chocolate bourbon cupcake
Triple salted caramel cupcake
Lemon cupcake with lavender frosting

CONTD.
Services- Talking about the bakery- Sweet tooth, the venture will be offering dine-in, take-away and
online ordering services through which they can meet demands of consumers and support in
enhancing the brand image of the company within the industry.

POTENTIAL MARKET OPPORTUNITIES
PEST analysis
The factors in relation to Sweet tooth are discussed beneath:
• Political factors- The political factors such as the corruption
level in the market, restrictions of government are some of the
factors which can create a significant impact on the operations
and profitability of the company.
• Economic factors- The economic factors, such as- foreign
exchange rate, employment rate, fiscal and monetary policies,
work force productivity.

CONTD.
• Social factors- The social factors which can create an impact on the
operations and the profitability of cake venture, Sweet Tooth are-
demographic trends, gender composition in labour markets, nature of
social contract between government and society, education level in
society, attitude towards health and safety, attitude towards leisure,
types and attitude towards immigration, immigration policies.
• Technological factors- The technological factors which can create an
impact on the continuity and operations of the business venture are-
infrastructural development, investment in research and development, ,
transparency in digital drive which can be helpful in enhancing the
operations of the company through which they can generate higher
revenues and perform business operations more effectively.

ATTRACTIVENESS OF INDUSTRY
Porter five forces
The five forces which are identified for the business
venture is discussed beneath:
• Threat of new entrants- The barriers to entry in such
business is low and economies of scale is a benefit for
the companies through which they cans sustain their
competitive position within the industry and maximize
the profitability of business.
• Threat of substitution- There are various bakery
companies which are offering different bakery products
and this can lead to high substitution in the market.

CONTD.
• Competitive rivalry- There are many business venture which are
operating as bakery in the industry and such factors are responsible for
creating high competition within the industry.
• Bargaining power of suppliers- The power of suppliers is low which
is the reason of well developed markets for their products and the
commoditized nature of the product range which the business ventures
is offering.
• Bargaining power of buyers- The power of buyers in such business
venture is high as they can command low prices and volume
discounts.

VISION FOR BUSINESS
• The vision of this cake venture is to enhance the quality
standard and focus on delivering the quality products and
services through which they can attract higher number of
customers and maximize the profitability of business
venture.
• The vision of Sweet tooth is to meet the targets and create a
strong brand name through which they can create a loyal
customer has which will be helpful in enhancing the profit
margin and competitive position of the company.

CONCLUSION
• From this PPT, it can be evaluated that entrepreneurship is
the act of starting a new business venture through which
the business can generate value and maximize the
profitability.
• This is the medium of gathering information and
understanding the market which will be helpful in planning
the strategies through which risk and profits of a new
business venture can be maintained.
• There are various internal and external business
environment which can create an impact on the functions of
business.

REFERENCES
• Apostolopoulos, N and et.al., 2018. Entrepreneurship and the sustainable development goals. Emerald
Publishing Limited.
• Drobyazko, S and et.al., 2019. Innovative entrepreneurship models in the management system of enterprise
competitiveness. Journal of Entrepreneurship Education. 22(4). pp.1-6.
• Gong, X and et.al., 2019, November. Application of Institutional Entrepreneurship Theory of Small and
Medium-Sized Private Construction Enterprises to Flying Landscape Company. In International Symposium
on Advancement of Construction Management and Real Estate (pp. 743-753). Springer, Singapore.
• Hatt, L., 2018. Threshold concepts in entrepreneurship–the entrepreneurs’ perspective. Education+ Training.