Sources of Entrepreneurship and Entrepreneurial Idea for Unilever

UNIT 27

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1 Understanding the sources of entrepreneurship along with their pros and cons.......................3
2 Entrepreneurial idea for Unilever within analysation of market gap........................................5
SWOT Analysation......................................................................................................................6
4 PESTLE Analysation................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Entrepreneurship ideas refers to those ideas that are taken has been taken in order to develop and
manage the businesses in order to increase the profitability of the business. These ideas help in
understanding the several risks that arise in the path of the business. The concept of
entrepreneurship has been resulted into developing the various elements for the business
organizations. The idea of entrepreneurship comes from the sources of entrepreneurship. This
report will illustrate the sources of entrepreneurship and along with this, the report will provide
the entrepreneurial idea with in the market gap analysis. Apart from this, the report will highlight
the SWOT and PESTLE Analysation of chosen business idea.
MAIN BODY
1 Understanding the sources of entrepreneurship along with their pros and cons
Sources of business has been describes as the customers heard about the business in positive
manner. This results in the expansion of the business. Sources are the ways of promoting and
inspiring the business. (Dal Mas and et.al., 2021). Different sources leads to different type of
information about the business. Each of the sources has its own pros and cons. In order to
understand this with clearance here are the Drucker's 7 sources for inspiration. The 7 sources of
Drucker's says that there are different sources of business and all of them creates the
opportunities for the business. These source of inspiration defines the sources that creates the
opportunities for the business. Here are those seven sources of the business opportunity:
The Unexpected- This source defines the opportunity that is present in the market. This source
of inspiration says that, there is always something unexpected present in the market. The
business must observe the market by keeping a keen focus. Understanding the unexpected
scenario of the market results in changing the unexpected thing into the big opportunity. The
unexpected risk has to be taken in order to achieve the success. The advantage of this source is
that the unexpected things in the market can result in providing that information to the business
that leads to provide large number of benefit to the firm. On the other hand the biggest
disadvantage of this source is that, it is full of high risk.
The Incongruity- This source of inspiration says that there is always a hint hidden it the
customer's wants. The best place to look upon the Incongruity is itself in the customers of the
business. Understanding the needs and wants of the customer results in forming the policy in the