Entrepreneurship Development: Business Plan, Creative Thinking, Value Creation, and Business Model

This presentation on Entrepreneurship Development covers topics such as developing an effective business plan, creative thinking, value creation using a value proportion canvas, and the importance of a business model. It emphasizes the need for businesses to update their business strategies periodically to foresee future trends and problems. The presentation also includes references for further reading.

Entrepreneurship Development

Reason for selection of business plan
• The business plan selected for this presentation is
of selling manufacturing items through online
medium which now have been disrupted due to
introduction of COVID-19. Due to this current
pandemic times various business firms have to
suffer losses. Therefore, implementation of this
respective business plan is dedicated on providing
B2B services to several corporates in UK region
for enabling effective production activities in the
operational firm.

Creative cognitive work
• One of the gates to great achievement and
significant growth in professional, personal and
social life is having a creative mind. Therefore, it
is important and beneficial for us to understand
better the brain correlates and the neurological
mechanisms underpinning creative thinking.

Value creation using a value proportion canvas
• The Value Proposition Canvas is a tool that may assist make sure the product or service is based on the
values and requirements of the consumer. Dr. Alexander Osterwalder first designed the Value Proposal
Canvas to guarantee that the product and the market fit. The connection between two components of the
wider business model of the Osterwalder canvas is a comprehensive examination; client segmentation and
value proposals. The Value Proposal canvas can be utilised if an existing product or service is necessary to
refine or if a new offer is produced from start.

Business Model
• The word business model refers to a business plan. It describes the items or services to be sold, its target
market defined and any expected expenditures. For both new and existing companies, business models are
crucial. They enable young firms to develop and attract investment, acquire talent and inspire management
and employees. Established companies should update their business strategies periodically or fail to
foresee future trends and problems. Business plans assist investors to assess businesses that are of interest
to them.

Business model canvas

Conclusion
• From the evaluation of above presentation it can be concluded that, developing an effective business plan
is important for a given business firm. This enables managers of the corporate firm to develop better
standards of working and also enables company to function better in terms of its market operations and
productivity.

References
• Tidd, J. and Bessant, J.R., 2020. Managing innovation: integrating technological, market and
organizational change. John Wiley & Sons.
• Prange, C. and Schlegelmilch, B.B., 2018. Managing innovation dilemmas: The cube
solution. Business Horizons, 61(2), pp.309-322.
• Tidd, J. and Bessant, J., 2018. Innovation management challenges: From fads to
fundamentals. International Journal of Innovation Management, 22(05), p.1840007.
• Mousavi, S., Bossink, B. and van Vliet, M., 2018. Dynamic capabilities and organizational routines
for managing innovation towards sustainability. Journal of cleaner production, 203, pp.224-239.