9002ENT : Entrepreneurship Assignment

Added on - 21 Apr 2020

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Entrepreneurship9002ENTAQF Level 9ASB[Enter title here]Word count:1
Executive SummaryIn this study, entrepreneurship practices have been discussed taking a new venture Green &Co. This new venture will be a green restaurant and it is going to open in Perth. Thisrestaurant will be unique as this restaurant will use complete waste management, smoke willnot emit and rooftop facility with green roof will attract the customers. Green & Co will be infood and beverage industry and in Australia, this food and beverage industry is almost 104billion industries. Therefore, there will be enough potential for the business to flourish in themarket. Green & Co will offer bread, burgers, sandwiches, soup and pasta. Target market ofthe organisation will be young generation who love fine cuisine. In the food and beverageindustry, new sustainable practices can be seen in water stewardship, waste reduction processand energy efficiency in the business. This new business venture will follow all the basicenvironment and social requirements. This new venture will be unique in one aspect that thisis going to use green supply chain as eco-friendly supply chain will provide the financialbenefits, increased revenues, reduced cost and enhanced customer services. Eco-friendlysupply chain will give environmental benefits as reduced waste, reduced fuel consumptionand reduced air emission. In social perspectives, it will give traffic congestion, security andhealth. Green & Co will get the benefits from supply chain as revenues will be greater andcost will be reduced. Eco-friendly supply chain will protect against reputation and it willreduce environmental costs and impact. Green & Co will adopt the sustainable businesspractices as it will follow social responsibility, environmental sustainability and economicresponsibility. Green & Co needs to do strategic approach and responsible management withethical operation.2
Table of contentsExecutive Summary................................................................................................................21.Introduction.....................................................................................................................32.New Venture...................................................................................................................42.1Industry overview....................................................................................................42.2Products and service offering..................................................................................52.3Target market...........................................................................................................53.Current and new sustainable business practices..............................................................54.Venture uniqueness.........................................................................................................75.Opportunities and threats linked to implementing sustainable business practice...........95.1Opportunities linked to implementing an eco-friendly supply chain......................95.2Threats linked to implementing an eco-friendly supply chain..............................116.Benefits of a sustainable supply chain..........................................................................126.1Revenues and cost reductions................................................................................126.2Protection against reputational damage.................................................................126.3Reducing environmental costs and impact............................................................126.4Creating partnerships in global industry standards................................................127.Impact and adoption of sustainable business practice...................................................137.1Social responsibility...............................................................................................137.2Environmental sustainability.................................................................................137.3Economic sustainability.........................................................................................148.Recommendations for sustainable business practice....................................................148.1Strategic approach..................................................................................................148.2Management responsibility....................................................................................148.3Ethical operation....................................................................................................149.Conclusion.....................................................................................................................15Reference list........................................................................................................................163
1.IntroductionEntrepreneurship is the method of designing, running and launching a new business.Entrepreneurs start a new business with a notion to earn profit from the business (Drucker2014). The types of ‘sustainopreneurship’ practices have strategic purposes and objectivesthat respect the social boundaries and also earn a profit. Moreover, these types of businessescan be defined as ‘businesses with a cause’. In this study, an entrepreneur venture will belaunched with a sustainable practice. The aim of the study is to highlight a sustainableentrepreneur practice where real-world problems can be turned into business opportunities bydeployment of sustainable innovations.2.New VentureGreen & Co is going to be a green restaurant established in Perth. The concept of a greenrestaurant defines that the restaurants aims to become environmentally responsible. Green &Co is going to be the first of its kind in Perth and will use a world class waste managementtechnique. The supply chain process of the restaurant will be sustainable and as a result willnot harm the environment. Green & Co will be a rooftop restaurant that is going to offer rawand vegan food items accompanied with alcoholic and or non-alcoholic beverages. Therooftop restaurant will have a touch of green on the roof and the seating arrangements will bemade out of recycled timber. A significant aspect of Green & Co that will not harm theenvironment is the unique cooking process of the restaurant, where no percentage of smokewill reach and contaminate the environment. Green & Co will attain a certificate from theGreen Board and will claim that Green & Co is 100% a green restaurant and credible to thecommunity. The major target of sustainability is the water efficiency, food services,recycling, waste reduction, building and interior materials.2.1Industry overviewGreen & Co will be part of the Australian Food and Beverage industry. The Food andBeverage industry is a significant industry sector in terms of employment and financialcontribution and is very robust. Correspondingly, the Food and Beverage industry inAustralia earned revenue of 104 billion AUD in 2016 (Schaper et al. 2014). Additionally,employees that work in the Food and Beverage industry equates to almost 15% of the overall4
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