Entrepreneurship in Business: Elements, Role, Planning, and Proposal

This report discusses the role of an entrepreneur, significant elements of the entrepreneurial procedure, business planning, and innovation. It also includes a business proposal/plan for Kings Cafe. The report concludes that efficient business planning and effective entrepreneurship are important for managing business development.

Entrepreneurship in
Business

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Demonstrate your knowledge and understanding about the following..................................3
Significant elements of the entrepreneurial procedure...........................................................4
Prepare (with synthesis and creativity) a business proposal / plan........................................4
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The respective person or an enterpriser is an individual who operates economically and
managerial functions to manages their risk and problems. Enterpriser is the one who manages
relations and think of enhancement, thought of orientation and will determine certain measures
that are linked with their staff faculty. Enterpriser is the procedure of preparing, creating, starting
new organisation (Ahsan, 2020). The following project present the case of the manner of
entrepreneur, enterprise planning and creation. It also involves significant workers of the
enterpriser process and at endmost it involves enterprise proposal and plan.
TASK
Demonstrate your knowledge and understanding about the following
The role of the entrepreneur
Enterpriser will supports the management in determining their needs of their consumers
by that the business create such facilities and will offers to their consumers. On the other side,
enterpriser involves several sectors and variations between entrepreneurial venture and
entrepreneurship. After maintaining several key problems enterpriser will get higher
opportunities in their business. They develop their management with less amount and with fixed
sources to satisfy their managerial requirements. Enterpriser will adapt their own approaches and
create their own organisational strategies that will not linked with another management.
Successful enterpriser like Steve Jobs, Marks Zuckerberg they are the one who perform their
roles and responsibilities to set up their business as effectively (Claire, Lefebvre, and Ronteau,
2020). If they required to copy other by evaluating their knowledge and abilities and their
framework at the area of the market area.
Business planning
It will refers to the course path that frames the structure of start-up business that includes
their objectives, goals to the way of attaining them. It is legal framework of the business that
include form of finance and economical perspective. It is significant section that are use for
attracting investment before creating an organisation.
Innovation
Innovation is termed as an effective process in the management and it is essential by that they
can capture high number of consumer's attention that will have an impact of the management.

Such innovation will include several section of new products and practices to present the manner
of products and their services to develop unique set of application in field of market. It will be
significant when there are several divisions and system in order to maximise their roles of
authentication, specific supervising, promotions and revaluation of the products and their
services for their consumers and users.
Significant elements of the entrepreneurial procedure
It cover some of the factors of entrepreneurship like creation, management, risk and
mission that are as follows - Innovation – The enterpriser deals with the economical sections of variations and
creativity of such divisions that will ensure to their role of success (Doh,, Tashman, and
Benischke, 2019). They implement their innovative ideas by getting high term of
opportunities and bring something new in marketplace. The products can regarding
products, techniques, services, manufacturing section and many more. Organization – Managerial abilities are effectively significant in developing the
framework of entrepreneurship. By it, there are staff members who are related to this, an
enterpriser need to manages all such respective and the process in a potential way. Risk – Every organisation functions with their risk and problems and another side in
entrepreneurship it refers to an individual role of the business that are related with “one
man business”. Without managing risks, organisation can not get upraised and will lead
to higher term of losses. Risk taking is another section for utilising their opportunities and
getting higher competitive sections on another presentation in similar area of market.
 Vision – An enterpriser have to manage their efficient visions. If they want successful
business then they plan to determine their issues and try to adapt suitable strategies in
order to overcome it (Kuratko, and Morris, 2018). The way of enterpriser monitor their
business and measure that how the business shift ahead towards their targets and get
attainment.
Prepare (with synthesis and creativity) a business proposal / plan
Executive Summary - It deals with current trends of business plan of Kings cafe that
include high manner of section that are consider in order to extend business at wider terms.
Organisation involves different section of goods and facilities and try to push the forwards to
extend their business at broad term.

Overview of company - It covers overall view that started as according to the nation in
that they have developed (Morris, Santos, and Neumeyer, 2020). Organisation provide
qualitative facilities to their users at effective price. It also engage current operations of business.
Mission and vision of company - The mission of Kings restaurant is to hold commitment
and dependency for sustaining in the area of marketplace within effective time. Another side,
vision of business is to hold effective amount of profitability level for strengthen in the
orientating of the company.
Objective -
 To increase the income of the management by 50% up to 2024.
 To enlarge their current customer base in order to gain high term of productivity level. To extend an organisation in various countries.
Industry and Market Analysis
SWOT Strength - Higher standardised items Weakness - Changing in several form of drinks and foods Threat - Challengers
 Opportunities – Extending the business in effective area of targeted area (Schaltegger,
Beckmann, and Hockerts, 2018).
Personnel and Management
Ownership – An organisation is functioned by individual owner
Number of employees - 15-18 staff
Financing Summary
An organisation is initiated with less term of investment but after the business have financed
with lower amount in enlarging their organisation.
Financial Plan
Cash flow statement:

Balance Sheet:

CONCLUSION
From the above mentioned report it has been concluded that, efficient business plan and effective
enterpriser for business that is important for business in managing ahead for development of
management. As there is no terms of requirement to measure the opportunities that are present in
the area of market by that the business owners can manages such opportunities for success of the
company.

REFERENCES
Books and Journals
Ahsan, M., 2020. Entrepreneurship and ethics in the sharing economy: A critical
perspective. Journal of Business Ethics, 161(1), pp.19-33.
Claire, C., Lefebvre, V. and Ronteau, S., 2020. Entrepreneurship as practice: systematic
literature review of a nascent field. Entrepreneurship & Regional Development, 32(3-4),
pp.281-312.
Doh, J.P., Tashman, P. and Benischke, M.H., 2019. Adapting to grand environmental challenges
through collective entrepreneurship. Academy of Management Perspectives, 33(4),
pp.450-468.
Kuratko, D.F. and Morris, M.H., 2018. Examining the future trajectory of
entrepreneurship. Journal of Small Business Management, 56(1), pp.11-23.
Morris, M.H., Santos, S.C. and Neumeyer, X., 2020. Entrepreneurship as a solution to poverty in
developed economies. Business Horizons, 63(3), pp.377-390.
Schaltegger, S., Beckmann, M. and Hockerts, K., 2018. Collaborative entrepreneurship for
sustainability. Creating solutions in light of the UN sustainable development
goals. International Journal of Entrepreneurial Venturing, 10(2), pp.131-152.