Entrepreneurship Development

This document discusses entrepreneurship development and its key components such as business objectives, value creation, business model canvas, and more. It explores the market size, growth, customer preferences, segments, and competitors in the ice cream industry. The document also provides a detailed developmental plan for Frutine Ice Cream. It is a valuable resource for studying entrepreneurship development.

Entrepreneurship
Development

Table of Contents
1.INTRODUCTION....................................................................................................................3
2. Business objectives..................................................................................................................3
3. Value creation: customers value proposition canvas...............................................................4
4. Business Model canvas............................................................................................................5
6. Evaluation of the plan..............................................................................................................7
5. Detailed Developmental Plan..................................................................................................8
7. Summary ..............................................................................................................................10
REFERENCES................................................................................................................................1
Value share of ice cream market in the United Kingdom for the 52 weeks to November 8,
2015, by category, [Online]. Available
through:<https://www.statista.com/statistics/536910/uk-ice-cream-market-value-share-in-the-
united-kingdom/ >........................................................................................................................1

1.INTRODUCTION
Leans start-up is process to found the new company or launching the new product in the
market by the existing company. Lean start up develop the product that consumer demand in the
market have desire to purchase as soon as product launched (Bocken, Snihur, 2020). Lean start-
up hire the employee who can learn, work and adapt quickly in the organization. Frutine is the
lean start-up and developing the new product for the market addressing the needs and satisfaction
have been considered the key objective to attain the presences of consumer in the market. The
new product is for the consumer who are planning for their diet and include some ingredient that
reduce the calories. Ice cream is produce by utilizing the fruit based ingredients and protein
powders which impact minimum in context of fat and carbohydrates. The new ice cream
contains the 15g of protein per 100g, fat 1g for 100g and carbohydrates 2g per 100g. Frutine
have used the application of Xanthan gum declared by the producer which help the company to
produce high quality of ice-cream which contain low calories. This product helps the company to
gain those customers which prefer ice cream as a desert which is in large proportion.
2. Business objectives
The main objectives of Furtine ice cream is to provide better and qualitative products or
services to customers so that it can easily attract more and more customers in the firm. The
company further aim to innovate its ice cream by adding fruit based ingredients and protein
powder so that people can have better health and lifestyles. It has more focused on nutrient
content with an objectives that people have healthy and more tasty ice cream in order to fulfil
their respective requirements (Apostolopoulos and et.al., 2018.). There are some more
objectives of company in terms of market share, profitability and sales revenue which can be
illustrated as follows:
 Furtine ice cream wants to increase its market share by 12% till 2021 by adding more
healthy ingredients in the products.
 To enhance profitability and sales revenue to 10% by enhancing customers satisfaction
level.
 Company has make use of lean start up method it means that most of the people like to
have tasty and healthy ice cream so Furtine ice creams has planned to launch the same in
order to retained them within firm.

 Furtine ice cream further wants to innovate its products at continuously in order to
retained customers loyalty and gained competitive advantages.
3. Value creation: customers value proposition canvas
Value creation is promise made by company to delivery specific products and services at
particular rates to customers in order to satisfied their respective wants in better manner. Furtine
ice cream has tried to delivered maximum value to customers so that they are motivated to be
part of organisation. Value proposition canvas is a tool that is used to ensure that services are
effectively positioned or contribute in delivering maximum value to end customers. Dr
Alexandar Osterwalder was initially developer of the framework that focused on fit between
market and products. Thus, it looks towards relationship between value proposition and
customers segmentation thereby contributing in growth and success of firm (Sherwani, Iqubal
and Malik, 2018). Customers value proposition canvas of Furtine ice cream is explained as
follows:
Customers profile: These are individuals that make purchase of products or services in order to
fulfil their respective requirement. Taste and preference of customers are ever-changing so
company needs to emphasis on providing maximum value to end people.
Gain: Furtine ice cream can become gain creator by focusing on product uniqueness,
availability, cost of manufacturing in order to provide better products at reasonable price. It has
tried to bring economic of scale so that maximum value can be provided to customers at
reasonable prices for fulfilment of their respective needs.
Products and services: Company in order to attract more and more customers has planned to
introduce zero fat ice-cream, havored ice-cream and natural ingredients ice-cream. Enterprise by
offering several products or services is able to fulfil requirement of diverse individual thereby
gain competitive advantages in external environment.
Pain relievers: There are several other methods which have been used by Furtine ice cream
company in order to pain relievers like calculation of overall profit, automated sustainable
prediction. Effectively decision-making process and customers satisfaction has helped company
in attracting and retaining loyal customers within organisation (Horst and Murschetz, 2019).
Like most of the people wants to have a desert or healthy tasty ice cream in order to satisfied
their needs so the company helped in fulfilling their needs.

Value proposition: It is statement which clearly specific why any particular customers needs to
preference an specific products and services rather than other competitors for fulfilment of their
respective wants. The way Furtine ice cream has created value proposition can be explained as
follows:
Gains: The way company has created maximum value for customers can be stated as it has
added tasty flavour, provided varieties of options and ensure healthy nutrition products so that
needs of individuals can be satisfied (Dutta and Sobel, 2018). Company by continuous launching
new products or services, adding tasty flavour is able to create value proposition thus get
competitive advantages in external environment.
Jobs to be done: There are several job that have been completed by Furtine ice cream in order
to create value for people like cost control and optimum utilisation of resources so that maximum
outcome can be delivered to key individuals. Time management is another point that has been
considered by company so that services can be delivered to customers in limited time frame
(Abuzjarova, 2018). Therefore, cost, resources and time management are three job which have
been performed by company to make customers happy and satisfied.
Pain: The pain that are bear by company by ensuring value proposition are store based business
and more demand during peak season that resulted in problem for organisation to delivered better
services to customers. Unavailability of products is also pain as customers has to wait for getting
ice cream that might lead in dissatisfaction so enterprise has tried to do in better manner so that
end objectives of company can be achieved.
4. Business Model canvas
Key partner of Frutine:
 Dairy industries which provide the milk and other dairy products to the company.
 Fruits and nuts which provide with fresh fruits and high quality of nuts for the ice cream
 Ice cream producer which manufacture the final product and dispatch from the factory.
Key activities:
 Market analysis of new product showing their specification of Frutine ice cream which
attract the customers and create willingness to purchase the product and in-depth analysis
of market where the demand can be fulfilled and customer satisfaction need is completed.

 Product differentiation of ice cream with the existing competitor to create demand for the
product to customers by highlighting the key factors which are new for the customer and
quality of the product which make differentiate from the existing competitor.
Key Resources
Human resources: These process include the hiring of employees for the company to achieve the
target goal. Training and development of employees for the effective working in the
organization.
Collaboration with stakeholders: Collaborating with stakeholder like suppliers, customers,
bankers, investors and others for the smooth flow of working in organization.
Investors such as banks and other organization: These helps the company to run smoothly with
adequate funding that meet day to day expenditure.
Raw material suppliers: They provide with the raw material to produce the final goods and make
available for the customers.
Product marketing licence: It is permission from the licensor to manufacturing or sell the
particular product in the market.
Value Proposition
 Consumers who are on diet and want low fat and calories based product would highly
prefer this due to its low fat and carbohydrate content as the product is for the diet
conscious people who love ice cream as a dessert would highly prefer this product and
which are in large number in the market.
 Affordable price of the product so that every individual can take the advantage of using
low fat product and can be affordable for every class of income.
Customer relationship
As the product is new, company offer with discount for the customers to attain the market
share which attract the customer and wish to purchase it. Whereas, if customer order the product
they are benefits with the coupon that avail discount for the next purchase and make the effective
marketing in market (Mansoori, 2017).
Channels
The marketing of the product is done through social media which influence the people
most and reach the wider market. This is also cost effective marketing where results are better

than other marketing. While offline media of marketing is also referring such as leaflet for
gaining the local market.
Customer segment
The customer segment is based on three major factors which are age, taste and health.
Where old age people and mind age younger are more preferred this product as they are free
from fat and calories whereas young sporty students can also prefer as they are full of health
nutrition and suitable for all.
Cost structure
Cost for the new product are differentiated as:
Cost of Market analysis is £1200, Employee remunerations £560, Supplier costs £1000,
Equipment’s £3000, Social media advertisements £100, Stakeholder engagement £500 and Time
of productions: £700
Total cost is £7060
Revenue stream
The product is available for the consumer from store market and online food delivery
channels. The company is grabbing the all opportunities to capture the market by providing
online and offline store for the purchase of ice cream.
6. Evaluation of the plan
From the above plan it can be evaluated that company needs to make future development
in its product in order to meet changing customers requirement and retained its market
positioning in better manner. It also needs to focus on improving its services by making more
and more use of digital technologies so that large number of customers can be influenced in
minimum time frame. There are several competitors of Furtine ice cream that has make use of
different strategy in order to attract and retained customers therefore company has focused on its
product ingredients to maximise its brand image and profitability. Furthermore it has to
diversified its business operations in international market so that it can attract maximum number
of people in the enterprise (Chowdhury, Audretsch and Belitski, 2019). From the plan it is also
analysed that enterprise needs to focus on building strong relationship with suppliers so that it
can easily get products or services in minimum time-frame possible. Therefore company through
such further development can enhance its overall profitability and market share in external
environment.

5. Detailed Developmental Plan
1. Market Size – Generally, market size refers to the specific no. of individuals in the
market segment who can become the potential customers. So for the lean start-up like
Frutine Ice cream, it is very essential to determine the market size of the potential ice
cream buyers before their launch of ice-creams(Donchenko, 2020). The market size of
UK ice-cream industry is £510 m, and as per the need and conscious towards the health
considering that factors it can succeed.
2. Market Growth – Basically, market growth is defined as the increase in the demand for a
product or service in the particular market. Frutine has analysed and researched about the
defined all the attractive pricing strategies for its growth with the help of its talented
marketing professionals. Company will promote its differentiated and unique features of
its products that will increase sales and this will contribute in its growth .
3. Customer Preferences – Frutine Ice Cream have hire the best talents who regularly
research and analyse about the customer preferences related to ice-creams in UK market.
Customers are now-a-days growing conscious towards the health so their preferences are
towards sugar free ice-creams which provides the health benefits (Kinabo, 2020).
Company can add those food ingredients such dry fruits which are protein and are rich
vitamin. Frutine mentions the all these rich vitamin ingredients that is been used in its
ice-creams on its packaging of the products and has decided to promote with the help of
content marketing showcasing the benefits and speciality of its ice-cream.
4. Segments – Through market segmentation, company divides the target market in to
smaller and defined categories on various basis such as their needs, age group,
demographics, interest etc. for example such to target youngster through digital media
and offering them ice-creams flavours which they like and offering the sugar-free ice
creams to the age group above 40.
5. Competitors – Frutine has to face few big competitors which will give the business good
competition from such as R&R Ice Cream, Unilever UK limited, New Forest and
Mackie's Limited(Asada, 2017). If the company succeed in competing them and is able to
make good market share in the UK industry then it will obviously flourish and chances of
its existence will increase. With the help of professionals and experts company has
formulated such strategies which will help them in catering the ice-cream market.

6. Key partners – Frutine's key partners involve the investors and shareholders who have
invested in the success and growth of its business. These partners have shown their trust
in the company and its plan and is also eligible for the profits that the company will earn.
7. Channels -Distribution channels helps in determining the way and no. of intermediaries
that are involved in the way of reaching or making the product available to the ultimate
customers. Frutine Ice-cream chooses multiple distribution channel through which it will
provide its various ice-creams to ultimate customers this involves B2C delivering through
the help of distributors, sales team, retailers, resellers, websites and apps.
8. Technologies - Company has invested a huge amount for the adoption of technologies
and softwares that will make the work easier for them and customers such as innovative
features on its websites such as customers can customize and order the ice-cream as per
their preferences, digital technology such search engine optimization and various tools to
attract and promote their products (Aliaga and Aliaga Robles, 2019). Use of social media
platforms which helps in increasing the customers reach and make the public aware of its
products and benefits and target the young generation. Frutine's marketing teams uses the
available tools provided by the social media platforms to recognize their potential
customers and their preference by doing survey to know about the customer expectation
and interest on social media.
9. Job description -
Job Description
Job details:
Title – Finance Manager
Reporting – Head of Financial Management & Planning
Duties & Responsibilities – To manage, be accountable and ensure the effective
development of the business. To make sure compliance with all the mandatory
regulatory requirements in conjunction with the Board and operation manager. The
role involves to advice the best in the financial matters and policy.
Essential Criteria:
Thorough knowledge of accounting policies and procedures.
CA/CPA qualified
Change Management

Large ERP experience
10. Labour Market Information -This is the useful tool that helps the Frutine ice-cream
company to research about the future jobs in the area of UK and in understanding the specific
roles and future employment demand. With the help of this labour market information, Frutine
decides considers the right talents and offer them jobs accordingly. As company needs to hire
different delivery person for the fast delivery to its customers by understanding it can provide
full time and part-time employment and reduce through which company can contribute in the
reduction of unemployment in country.
11. Sources Of Finance – There are various sources of finances that are available for the
Frutine ice-creams to build a strong market share by coming up with innovative and
differentiated ice-creams. Ice-cream company can opt for several sources of finance such
as bank loan, angel investing, venture capital, overdraft, financial bootstrapping etc. But
by analysing the complete business, bank loans will the most appropriate option for the
company as the rates of interest is low and initially it can be good for the start-up as they
have to invest in various other things.
12. Cost of Finances -
Expenses Amount
Wages and salary £1700
Stationary £500
Marketing expense £1500
Rent £2000
Digital technology £1300
Miscellaneous expense £500
Total £7500
7. Summary
From the above report it can also be concluded that company can beat competition by
more focusing on innovating its product or adding more nutritional ingredients in the ice-cream

so that customers can feel happy and satisfied. At the same time, value creating lean is also
another best method that is used by Furtine ice cream to expand and grow its market share.
Investors or key individuals need to invest or provide loan or finance to start-up as these firm
emphasis on satisfying specific needs of customers by making optimum utilisation of resources.
Lean methodology, is working effectively by making best use of resources so that qualitative
products or ice cream can be delivered to end users. With development in technology and
increase in number of customers, entrepreneur has more opportunities to grow and develop new
venture in order to enjoy huge profitability. At last it can also be summarised from above report
that enterprise through continuously adapting its method or techniques as per external
environment changes can enhance customers satisfaction thus achieved its goals in better
manner. Therefore it can be concluded that lean creating investment is important as company is
developed short product life cycle in order to manufacture ice cream that are as per their existing
taste and preference. So it can be understand that human resources management through
motivating and managing resources of organisation contribute in achievement of company goals
in best possible manner.

REFERENCES
Books and journals
Abuzjarova, M. I., 2018. Tendencies, law of development and economic content of innovative
entrepreneurship. Modern Economy Success, (1). pp.43-50.
Aliaga-Herchel, P. and Aliaga Robles, J., 2019. UniBuddy-Business Development Plan.
Apostolopoulos, N and et.al., 2018. Entrepreneurship and the sustainable development goals.
Emerald Publishing Limited.
Asada, M., 2017. Ethnic minorities development plan (No. SFG3063, pp. 1-51). The World
Bank.
Bocken, N. and Snihur, Y., 2020. Lean startup and the business model: Experimenting for
novelty and impact. Long Range Planning. 53(4). p.101953.
Chowdhury, F., Audretsch, D. B. and Belitski, M., 2019. Institutions and entrepreneurship
quality. Entrepreneurship Theory and Practice, 43(1). pp.51-81.
Donchenko, K., 2020. Business consulting in Russia: business development plan for company X.
Dutta, N. and Sobel, R. S., 2018. Entrepreneurship and human capital: The role of financial
development. International Review of Economics & Finance, 57. pp.319-332.
Horst, S. O. and Murschetz, P. C., 2019. Strategic media entrepreneurship: Theory development
and problematization. Journal of Media Management and Entrepreneurship
(JMME), 1(1). pp.1-26.
Kinabo, R., 2020. Strategy Development Plan.
Mansoori, Y., 2017. Enacting the lean startup methodology. International Journal of
Entrepreneurial Behavior & Research.
Sherwani, N. U. K., Iqubal, J. and Malik, Z., 2018. Microfinance and Crowd funding:
Alternative Approaches for Entrepreneurship Development. International Journal of
Management, IT and Engineering, 8(2). pp.233-243.
Online
Value share of ice cream market in the United Kingdom for the 52 weeks to November 8, 2015,
by category, [Online]. Available
through:<https://www.statista.com/statistics/536910/uk-ice-cream-market-value-share-
in-the-united-kingdom/ >.
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