Entrepreneurship Module BMS508

Entrepreneurship
Module
Contents

INTRODUCTION......................................................................................................................2
MAIN BODY.............................................................................................................................3
Introduction to business..........................................................................................................3
Business strategies of different department of BamStraw.ltd................................................4
Marketing plan........................................................................................................................5
Operational planning and performance..................................................................................7
Financial Plan.........................................................................................................................8
Effective business planning and performance........................................................................8
Potential issues arising that may impact the success of small business management through
entrepreneurship.....................................................................................................................9
CONCLUSION........................................................................................................................10
REFERENCES.........................................................................................................................11

INTRODUCTION
A business plan is a written article in which a company—typically a developer—explains its
objectives and how it intends to achieve those objectives. A business plan is a written
roadmap that outlines the company's marketing, financial, and operational objectives.
Business plans are important documents that are used for both external and internal
audiences. A business plan, for example, is used to seek investment or financing before a
company has established a track record. They're also a great way for executives to stay on the
same page with strategic action items and on track to meet the company's goals.The report
comprises of business plan created by an entrepreneur by considering business strategies,
marketing, operations, finance and legal status. The report also include the analysis of main
component of business and how they inter related, and demonstration of effective small
business performance and panning and also includes the issues arising which affect small
business management(Audretsch and Moog, 2022).
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MAIN BODY
Entrepreneurship is the art of starting a business, which is essentially a new company
that provides a one-of-a-kind product, process, or service. It could be described as a creative
activity. An entrepreneur sees everything as a possibility and is biassed when making
decisions to capitalise on it. A developer or designer who creates new ideas and business
procedures in response to market demands and personal interests is referred to as an
entrepreneur. To be a successful entrepreneur, you must have strong managerial abilities as
well as excellent team-building abilities. Entrepreneurs with strong leadership skills have a
better chance of success. Certain political economists regard leadership, management
competence, and team-building abilities as essential characteristics of an entrepreneur. An
entrepreneur is a creator or innovator. (Ratten and Usmanij, 2021).
Introduction to business
The entrepreneur establish a small business plan for the manufacturing of straws
which is made up of bamboos trees which can be used again and again and are environmental
friendly. The name of the company is BamStraw.ltd. it is a sole proprietorship business and is

established in prime location of St. James’s, London, United Kingdom. The main activity of
the company is to manufacture the bamboo straws, marketing and selling it and provide
delivery services to its customers. More than 10 persons are employed in the business and
the overall capital of the business is approximately 65000 euro.
Mission of the company- With our environmental friendly products, we hope
to accomplish our goal of rewarding customers. We are dedicated to delivering a customized,
affordable, and healthy bamboo straw to boost more people to decrease waste by using
reusable straws wherever and whenever they can(Landström and Harirchi, 2018).
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Vision of the company -To build a business that stimulates the use of environmentally
friendly items and prioritizes the use of bamboo straws over non-reusable straws.
Business strategies of different department of BamStraw.ltd
Business strategy plays a key role in the development and maintain of the business.
The personal performance cannot influence the business strategies in a right manner for
corporate management. There must be business strategy for all different departments such as
human resource, marketing department and others so that the plan runs smoothly without any
hazard. They help business in attaining set goals and objectives of business plan.
The entrepreneur has set various kinds of business strategy for different sector in the business
enterprises in order to achieve objectives of firm.
Administration and Human Resources Department- the main duty of the human
resource department is to manage all the activities of the coworker and assure that the work is
going according to procedure and process. It also addresses and resolves issues that have a
long-term impact on people management sequencers.
Marketing Department- the strategy of the marketing department is to ensure the
product marketing and involves activities of promotion of product so that the product reached
to large number of customers. It also practices social media to stimulate an organization's
business and mission(Sahut, Iandoli and Teulon, 2021).
Operational department- it is the duty of the operation management department to
ensure all the equipment and raw material are of good quality so as to run the smooth
operation and maintain all products and increase the productivity of the business. This