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Entrepreneurship and Plastic Waste Reduction: A Market Research Analysis

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Added on  2023-06-08

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This essay discusses the problem of plastic waste and how entrepreneurship can play a role in reducing it. It includes market research findings related to the problem and solution, and a reflection using Gibbs' Reflective Cycle model. The essay also suggests alternative solutions such as producing sustainable products and edible utensils.

Entrepreneurship and Plastic Waste Reduction: A Market Research Analysis

   Added on 2023-06-08

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Entrepreneurship
Entrepreneurship and Plastic Waste Reduction: A Market Research Analysis_1
Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK – 1.........................................................................................................................................3
What led to choose this idea?......................................................................................................3
Initial Market Research findings.................................................................................................4
Conclusion...................................................................................................................................4
TASK – 2.........................................................................................................................................5
Gibbs' Reflective Cycle...............................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES:...............................................................................................................................8
Books and Journals.....................................................................................................................8
Entrepreneurship and Plastic Waste Reduction: A Market Research Analysis_2
INTRODUCTION
An entrepreneur is an individual or group, who are involved in introducing a new
business idea (Alvarez and Barney, 2020). With this, the process used by the entrepreneur in
order to establish a new venture by taking risk is termed as Entrepreneurship. They plays a vital
role towards the development of countries economy. As by establishing a new ventures, the
entrepreneurs are able to generate a employment to large group of people. They are able to make
and promote social changes as they are the one who will lead their ideas. By making continuous
improvement and innovation the business are even able to get competitive advantages.
Entrepreneurs are also one who find out the problems and need of the community and transforms
it into a new business idea. For preparing this particular essay the problem which is being
identified is use of plastic. Excess use of plastic at each and every point of time results in
polluting environment. This creates an imbalance in the environment and even the health of
living beings are affectedly badly. In order to prevent this situation its crucial to take major and
innovate steps towards the prevention of use of plastic. This essay includes the problem that
community it facing and how this idea click in the mind of an entrepreneur. With this, the essay
includes the market research findings performed by entrepreneur in order to get idea about the
problem as well as for the solution. Lastly, the essay includes the solution for the problem using
the Gibbs reflective cycle model.
MAIN BODY
TASK – 1
What led to choose this idea?
Increase in the amount of pollution which is affecting the living being is the main reason
behind choosing this idea (Audretsch and Moog, 2022). The idea is to use an effective solutions
through which use of plastic could be reduced or avoided. With this, the motive to find out the
sustainable solution for plastic. The water bodies are also affected a lot by increase in the plastic
waste that is being thrown in oceans. The plastic can be be degrade, with this the single use
plastic can neither be recycled which again results in increasing pollution. Use of plastic is the
major cause for many severe diseases such as cancer. Storing food in plastic contriver results in
releasing harmful chemical and turn out the food into toxic food. Some organisation are involved
in decomposing plastic artificially but this takes a lot of energy and cost to vanish it. Instead of
Entrepreneurship and Plastic Waste Reduction: A Market Research Analysis_3

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