Entrepreneurship in Business

ENTREPRENEURSHIP
IN
BUSINESS

EXECUTIVE SUMMARY
Entrepreneurship is a process in which an individual establish or run their own business
in order to serve society for gaining profit or social welfare. In this Aleona who has experienced
of 20 years now want to start her business. For which she decide to start business in cosmetics
industry with the name of Lush and Blush at United Kingdom marketplace. This company will
offer cosmetics products made with traditional method and natural ingredients, flowers as well as
plans. Along with this they also develop customize products according to need and demand of
customer. To conduct this in appropriate manner Aleona needs to conduct market analysis and
develop business plan and financial statements which is mentioned in this report.

Table of Content
TASK 1...................................................................................................................................................4
Background and experience of Owner.....................................................................................................4
New Venture and products launched by company...................................................................................4
Market research.......................................................................................................................................5
Operational Requirements.......................................................................................................................6
Cost and pricing strategy.........................................................................................................................7
Financial Forecasting...............................................................................................................................7
Contingency Plan/ Exit Strategy..............................................................................................................9
TASK 2...................................................................................................................................................9
CONCLUSION.....................................................................................................................................11
REFRENCES........................................................................................................................................12

INTRODUCTION
Entrepreneurship refers procedure in which an individual launch and run their new
business which can be big or small. An individual who launch a new venture is known as
entrepreneur. In this mainly a person start a new business operation which is unique and creative
in order to earn profit or serve society (Bridge and O’Neill, 2012). This report is based on a new
venture which is launched by Aleona Ankrah and its name is Lush and Blush in London, United
Kingdom. This respective company will conduct its business in cosmetics industry by providing
beauty products which are made up of natural materials like flowers, plans and organic
ingredients. Topics covered in this report are related to business plans and financial status of
company as well as owner. These both things are essential to run and established a business
operation in effective and appropriate manner.
TASK 1
Background and experience of Owner
Entreprenurship is a procedure in which an individual conduct or start a new venture in
order to serve their potential customers. Here main aim to start business is to earn profit and
expand business at international level or serve society in effective and appropriate manner. This
report is also based on entrepreneurship which is established by Aleona Ankrah who is an
investor and design engineer. Aleona work as Component Specialist at Rolls Royce for approx
20 years and she want to establish her own new business. For this she wants to develop business
plans as well as financial status so that she will conduct next procedure accordingly and
effectively. Aleona also conduct analysis and evaluation of market so that she know about their
potential customers which will further help her in developing and designing products and
services in effective and appropriate manner.
New Venture and products launched by company
When an individual plan to launch a new venture they must come up with new and
innovative idea so that they able to attract more and more customers in appropriate manner. For
which they have to conduct market analysis in order to understand need as well as demand of
customer and also know about their competitors (Burns and Dewhurst, 2016). In respect of this
report Aleona wants to establish a new venture with some innovative and idea. According to