Entrepreneurship in Business

ENTREPRENEURSHIP
IN BUSINESS

EXECUTIVE SUMMARY
A company needs to face a number of difficulties while launching a new product in market.
In the following report company deals with ceramic products and is innovating a new tile. This
tile requires a number or technologically advanced procedures to be followed. With the help of
this company can increase its revenues and profits. Market research is conducted by company in
order to understand and construct all the strategies required by company to prepare. The costing,
pricing, operational requirement etc. will help company in achieving its goals and objectives.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
OWNER’S EXPERIENCE AND BACKGROUND.......................................................................4
PRODUCTS OF NEW VENTURE.................................................................................................4
MARKET RESEARCH...................................................................................................................4
OPERATIONAL REQUIREMENT................................................................................................4
COST AND PRICING STRATEGY...............................................................................................4
FINANCIAL FORECASTING.......................................................................................................4
CONTINGENCY PLAN AND EXIT STRATEGY........................................................................4
CONCLUSION................................................................................................................................4
REFRENCES...................................................................................................................................4

INTRODUCTION
Daniel Platt Ltd is 170 years old company manufacturing natural clay floor tiles. The company is
highly competitive and has been innovating a number of tiles since its existence. This company
tries to make their innovations real as well as defective. They have plenty of engineers who are
capable enough to bring in new products for the company. In the following report Daniel Platt
Ltd is proposing new potential product which is non-destructive, antibacterial tiles (Jones and
Sakong, 2020). The company is proposing this to their investors in order to secure funds from
them for their new venture.
OWNER’S EXPERIENCE AND BACKGROUND
This is a private limited company with share capital situated in United Kingdom. The
company started trading from 2002 in the British market. Major business activity followed by
these companies manufacturing of tiles and flags. Eugene Groeger, David Smart and Colin Potts
are the directors of company. All its directors are British citizens.
PRODUCTS OF NEW VENTURE
Through this new business venture by company the company is innovating a new ceramic
tile. This is a high-quality tiles which has many features such as non-destructive, anti-bacterial
coatings, anti-starch and self-cleaning. This is the first of its type ever to be launched in the
market. Companies using a norm in which all these features will be present in a single tile.
Although there are a number of innovative tiles already introduced in the market but no other
tiles have all these qualities at once. With the help of these tiles company can easily gain a large
customer base and increase its revenue as well as profit. This innovation will also help
companies to grow in foreign markets.
MARKET RESEARCH
Company conducted PESTLE analysis on the industry in order to research about all the
factors that have an effect over business functioning and operations. It is also a kind of secondary
research.
Political factors: The political factors which may affect the company include trade regulations
and tariff is related to Raw Material, risk of military invasion, mandatory employee benefits,
taxation, pricing regulations, favoured trading partners and many more.