Managing Entrepreneurship Innovation and Creativity

Managing
Entrepreneurship
Innovation and
Creativity

EXECUTIVE SUMMARY
Creativity is factor regarding the development and change within the new business ideas and for
this, entrepreneurs move towards the success and growth. Innovation direct the path towards the
competitive advantage and creativity that offers proper growth as well as provides various
opportunities. Innovation is the process through which entrepreneur brings various new ideas and
concepts to generate new things in market than other competitors. Here, entrepreneurs have the
skills of being innovative and they tend to develop their business in different with new products
and other concerning services. Entrepreneurial business nature move surround the invent,
develop and innovate. The report covers the relevant idea where the entrepreneurial ideas are
discussed in through business plan.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
TASK 1 – MY LIFE STORY..........................................................................................................4
TASK 2 – OPTION A – IDEA/CONCEPT.....................................................................................4
What lessons can we learn in getting our ideas and concepts to the market place?...............4
TASK 3 – THE CONCEPT PLAN..................................................................................................7
Introduction – Business Concept and Opportunities..............................................................7
Objectives...............................................................................................................................7
Market Research.....................................................................................................................8
Target Market/Customers.......................................................................................................8
Marketing...............................................................................................................................9
Human Resource....................................................................................................................9
Operations (The Business Model Canvas)...........................................................................10
Legal Issues..........................................................................................................................11
Financials..............................................................................................................................12
Exit Strategy.........................................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

TASK 1 – MY LIFE STORY
New business or an existing can attain the objective of success in market place when the
entrepreneur is creative in nature, learner as well as ambitious. An entrepreneur is defined as the
one who tends to develop venture with innovative and creative idea within the dynamic business
environment by opting things as per the change and overall development that takes place in the
society and market area as well. I have plan to start a bakery shop under the guidance of my
uncle. It is my dream to open a bakery and something creative which I want in my life.
My mother is my inspiration as she uses to bake various things in my childhood that gave
me inspiration and motivate to open a bakery. I always look and stand in kitchen while my
mother used to bake pastries and I observe several things from her. It clarifies that I am keen and
acute learner. I wanted to become professional baker and adopt bakery as my career. To fulfil
this dream, I have joined catering school and proper classes to gain knowledge and
understanding regarding the suitable concepts. For this, my uncle also supported me and guided
my as he also run his takeaways and I also grasp some practical things over there. In the classes,
I have gained effective learning experience by experts under their supervision.
I have learnt various things from my mother, when she baked various dishes. I observed her
properly that enhanced my interest in backing and it improved my understanding regarding
different techniques. I have learnt traditional method of preparing and mixing dough with hands
in efficient manner. There are various business skills and competencies was learnt by me from
my mother such as management, team working, understanding the needs of customers and so on.
It leads to enable me to have a deep vision about myself with the help of Belbin theory as I am a
coordinator, finisher and shaper. There features represent me as a confident person and also
motivated me to become a successful entrepreneur.
TASK 2 – OPTION A – IDEA/CONCEPT
What lessons can we learn in getting our ideas and concepts to the market place?
Entrepreneurship is also defined as the ability to organise and run a particular business
functions considering the effective management and also bear of all the risk, profits and
uncertainties. It is an institution which is organised by the entrepreneurs by focusing over all the
risks and profitability considering the positive and negative aspects (Kuznetsov and et. al., 2017).