Human Capital and Entrepreneurship: Strategies for New Business Start-up

This presentation discusses the strategies for new business start-up in the field of human capital and entrepreneurship. It covers the importance of product/service, customer priority, value propositions, resources, competitive strategy, and relationship management. It also analyzes the challenges faced at each stage of the venture life cycle. The presentation provides valuable insights for individuals interested in starting a new business.

Human Capital and
Entrepreneurship

TASK 1
New business idea covering all the elements
 Product or service: The first and main work for establishing a new
business is what will the product and service. For an example, for a
restaurant business fast-food items will be the product.
 Priority Customers: Customer priority is one of the major concept
which should be considered during a new business venture.
 Superior Value Propositions: Customer value proposition describe
a marketing statement of business which demonstrate why should a
customer buy product or services.

CONTINUE
 Superior Value Propositions: Customer value proposition describe
a marketing statement of business which demonstrate why should a
customer buy product or services.
 Channels: Channels refers to the process of business products and
services to customers. Channel can be described as a path in which
organisation supply its products to customers in the market.
 Relationships & Partnerships: Relationship and partnership are
both important as well as in their own regions. Customer relationship
is important for the firm in order to increase satisfaction and loyalty
which lead towards production and profitability

CONTINUE
 Resources Requirements: Resources are the main factors to
establish a new business. Every business requires resources to run
operational activities in order to produce production and profitability.
 Competitive Strategy: Competitive strategy is developed by
business management in order to increase competitive advantage
over its competitors in the business.
 Identity: Identity refers to determine business various resources and
other needs which helps to establish new objectives and aims for the
organization.

TASK 2
Opportunities for the proposed new business.
 Whenever organizations wants to expand and establish their business
functions they need to consider various factors that are useful for the
business in order to maintain its position in the competitive market.
 The member wants to establish the tour and travel agency for the
millionaires of the Indonesia. Around 41 % of the total population of the
Indonesia is Javanese people.
 The profile of the Indonesian consumer has been steadily evolving along
two key dimensions: the increase in disposable household incomes, and
the rise in urbanization rates.
 The people of Indonesia are very motivated and excited towards the
shopping and experiencing adventurous experiences, because there is so
much wealth in the country and their people are not reluctant in paying
good amount of money for biding such unique and exciting experiences.

Task 3
Critically analyses the human resource strategies for purpose to
new business start up.
The human resource to the enterprise are the main element in relation to carry out
the activities of proposed firm, without them it is not possible to conduct the
operation of firm effectively. There is to take various initiative in order operate the
activities of firm in relation to travel agency. There are various kinds of human
resource strategies as are-
 Recruitment- This is one of the essential step in order to hiring the employees
of the firm. It is need to be done in the expertise manner. This is one of the
negative process in which manage of the firm nee dot carry out the all process
effectively. With the help of hiring highly suitable employees to the entity.
They are able to derive the large amount of profitability and productivity. The
employees to the firm need to do these activities expertly as the overall
function of enterprise depends on the process of recruitment.

Continue….
Selection- This kind of process can be called as negative process. In this the number of selected employees is less
than the number of recruited. This kind of process can be called as the negative process. In order to carry out the
activities of firm expertly, so that operation of business enterprise can be conducted effectively. The organization
need to have skilled employees as they need to carry the operational function of firm in expertise manner. By
hiring the skilled employees the firm is bale to carry out the operational function smoothly. The new venture
should have expertise employees so that they are able to bring development in the activities of firm.
Training- in this it can be stated that it is essential provide effective training to the employees so that things can
be carried out effectively. The firm need to provide effective training facility so that they are able to conduct the
operation of firm in expertise manner. The training will be given so that they can have the solution about the
various kind of issues to the business enterprise. This is kind of undertaking which is helpful to provide better
learning to employees so that they can perform business activities expertly. By providing the effective training
facility the employee can have better learning about the functional process of enterprise.
Performance management- This is ongoing process in which there is need to have better communication
between the supervisor and employees to the firm. In this all things are need to be carried out in the specific
manner so that performance cam be done effectively. It is the kind of procedure in which the employees and
manager to the firm works as to plan, monitor, and review

Continue…
the all business activities in the expertise manner so that firm is able to operate its business function in
expertise manner. The employees and manager should have one goal so that they are able to process
the activities of fir in the effective manner. It is the important process as it is helpful in relation to
accomplishing the strategic objectives of the business Enterprise. The main aim of this organizational
objectives is to have various skills, performance goals and competencies of employees. It involves
creating a workforce that has an understanding of what is to be achieved at the overall organizational
level.
 Motivation- In these employees need to perform its business activities effectively. The firm need to
motivate the employees so that all together they re able to carry out the process of the firm in
expertise manner. Motivation is the term which is helpful in order to have large profitability to
enterprise. It is the process with the help of which individual to the firm can carry out their process
effectively. Under these employees to the firm motivated so that they can able to carry out the
process of firm expertly. It is the process under which works as to carries out the process in the
manner as to full fill needs, desires, wants or drives within the individuals. It is the kind of process
which works as to stimulating people to actions in order to accomplish the goals.

TASK 4
Analyse the challenges which might
emerge at each stage in the life cycle of
the venture. Indonesia is APAC’s digital laggard, with relatively low levels of
internet penetration among its 264 million strong population.
However, with that population set to increase by 13.4 million by
2022, its Digital Consumer Index score should rise considerably, as
half of the population gains access to the internet.
 The predicted significant increase in digital commerce will be
powered by Indonesia’s general economic expansion. GDP growth is
expected to continue at an annual average of 5 percent, providing a
solid foundation for new investments in the country and increasing
the disposable income of the growing middle class (already among
the world’s largest).

CONTINUE
Illustration 1:
Life Cycle of
Venture

Life Cycle of Venture :
 New- Venture Development :
 This is the first step, it revolves around the tasks and activities that
are considered as the first or initial step of the venture. The first step
is considered s the foundation upon which the whole formulation of
the entrepreneurial process depends and it is also very important to
indulge certain kind of creativity and innovations within it.
 Start Up activities :
 This is considered as the second step or phase of the cycle, it
involves encompassing the foundation of the work which was later
needed for creating the business plans, searching for capitals and
effectively

CONTINUE
 Growth :
 This is the phase where some prominent changes in entrepreneurial
strategies are required in order to initiate some major variations.
 Business Stabilization:
 This stage is the combination of results of both entrepreneurs efforts
and market conditions, this is the stage where number of common
development takes place.
 Innovation or Decline :
 This is the last stage, where if firms not indulge innovation in to their
working it is impossible for them to survive in the competitive
market.

CONCLUSION
 It can be concluded from the above report analysis that every
business needs various resources and strategies to establish a new
business in the market. In addition to this, products and services,
customer priority, value proposition, resources, competitive strategy
and relationship management are some essential factors. There are
so many opportunities for a business by incorporating relevant
resources related to the business environment effectively. Human
resources are the main factors that helps to drive the business
performance. Strategies such as recruitment, performance
management, selection and motivation are some factors considered
by HR. Many challenges are faced by business at the stage of life
cycle process which can be for business or products. Life cycle
process should be effective to manage such challenges in
organisation effectively.