Entrepreneurship Development Solved Assignment (Doc)
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Added on 2021-02-20
Entrepreneurship Development Solved Assignment (Doc)
Added on 2021-02-20
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ENTREPRENEURSHIPDEVELOPMENT
Table of ContentsINTRODUCTION...........................................................................................................................1IDEA FORMATION.......................................................................................................................1SWOT ANALYSIS................................................................................................................2PESTLE ANALYSIS.............................................................................................................3FIVE FORCES.......................................................................................................................5MARKET RESEARCH.........................................................................................................6VALUE PROPOSITION........................................................................................................6BUSINESS CANVAS MODEL.............................................................................................7IDEA DEVELOPMENT.................................................................................................................8FINANCE...............................................................................................................................8GROWTH STRATEGY.........................................................................................................9HRM.......................................................................................................................................9MARKETING......................................................................................................................10RISK ANALYSIS................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONEntrepreneurship development can be referred to as the procedure comprising ofidentification of an idea, practising the ways to develop it and converting it into a venture(Toms, Wilson and Wright, 2019). The main role in this process is of an entrepreneur, who is aperson that intends to take risks with a view to develop a venture which can solve the problemsfaced by society.The entrepreneurial idea that has been selected by the group after the market evaluationof United Kingdom is the launch of a doughnut shop. This shop will be launched under thename of Donut Worry. The venture would offer healthy and freshly baked doughnuts which aregluten free, sugar free and made up of organic ingredients. They offerings of the enterprisewould come in three variants: Romanian (Papanashi), Greek (Loukoumades) and Americanrecipes. The products would be low in terms of calories and gluten free, which would bebeneficial for the people who suffer from diabetes and wheat flour intolerance. Donut Worry isan appealing name which will be successful in gaining the attention of a large number ofconsumers that the entity would be intending to target. This entrepreneurial venture would beoffering a healthy alternative to the present doughnuts industry which is full of sugar and glutenfull items. The venture would be mainly targeting some groups such as East Europeans,Romanian community, students and adults, which means, people who intend to try somethingunique and are attuned to the health and wellness trends. The products offered by Donut Worrywould thus be totally suitable for people who suffer from diabetes and flour intolerance.My role in the assignment is of Finance Director who would be responsible forstipulation of budget and ensuring that the expenses do not exceed the limit mentioned withinthe budget. Present report consists of problem identification, determination of solution, ideaformation and idea development.IDEA FORMATIONThe entrepreneurial idea of launching a doughnut shop which offers healthy, sugar freeand gluten free items, has been identified after extensive analysis and evaluation of consumertrends of UK. The location for the shop has been selected to be London EC1 R. The researchdone upon London reflected that the prices of products offered by businesses located within thearea chosen are quite high. This means that the offerings rendered by companies within this1
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