Blue Inc. - A New Online Store

Entrepreneurship and
Innovation

Executive Summary
The report is on the new business plan developed for a new entrepreneurial venture in
London, United Kingdom. The overall business idea is to convert the operational activities into
digitalisation by analysing the market and trends and desire of people to have a technology based
interaction with business .Blue Inc. is coming up with a new online store which will offer a
virtual shopping experience to their customers. Company already deals in clothing, footwear and
accessories, the concept behind the business plan is to offer a virtual trail to all the customers and
avoid any personal contact. The company is also offering virtual assistance by the sales force pre
and post sales services and is offering free delivery with every purchase made with them.

Table of Contents
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................1
Main body........................................................................................................................................1
Start-up business idea (product/service).................................................................................1
Industry profile.......................................................................................................................2
The Business model................................................................................................................2
Points of differentiation..........................................................................................................3
Challenges to business idea....................................................................................................4
Prospective customer..............................................................................................................5
Brief marketing plan...............................................................................................................5
Competitor analysis................................................................................................................6
Sources of funding..................................................................................................................7
Intellectual properties.............................................................................................................7
Conclusion.......................................................................................................................................8
References:.......................................................................................................................................9
Books and Journals.................................................................................................................9
Appendix........................................................................................................................................11

Introduction
Entrepreneurship and Innovation, these terms are used interchangeably in the modern world
because of their inter-relation with each other. Innovation is described as the implementation of
ideas the result of which is a new products or services or improved products or services,
processes, new marketing methods etc. The central idea behind innovation is, the idea or concept
which has commercial value which is not present in invention as it only benefits inventor, and
which make it different from Invention (Nadikattu, 2020). Innovation is a significant tool used
by entrepreneurs to exploit the opportunities and ability of them to convert invention into
innovation. Blue Inc. was founded way back in 1912 by Abraham Levy, is a fashion retail store
deals in footwear, clothing and accessories. The below mentioned repots is to articulate a new
business model along with business model matrix, evaluation of skills critical for strategic
growth and importance of innovation and entrepreneurship for strategic organisational growth.
Main body
Start-up business idea (product/service)
Innovations have enabled the business firm to better serve to the needs of the customer and
deliver them an exceptional quality of good and services. Blue Inc. traces back its history as a hat
shop in Stratford, east London, founded by Abraham Levy. The company expanded rapidly and
opened its first store with the desire to provide a young men an affordable clothing solution with
an eye catching street look. Blue Inc. with menswear also offers, kids wear and womenswear
with its flagship store in London’s oxford street. Company have come up with a new business
plan that is to expand their clothing, footwear and assessor services to more people beyond
geographical boundaries (Tohanean and Weiss, 2019). The new business idea is to offer a virtual
shopping experience to the existing and new customer via website, social media platform and
application. Company will list their products on online platform and will develop an extra feature
of virtual trail of the goods bought. The idea behind is to reduce the cost of manpower, physical
store and go digital with the people desires to interact virtually with the business and avoid
personal interaction due to pandemic. Blue Inc. currently deals in fashionable men’s women’s
and kids wear from casual wear to formal suits and products at certainly low price as compared
to other brands. Blue Inc. also offer its product range under the brand name along with Adidas,
Mossimo, and Polo Ralph Lauren.
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