Innovation and Entrepreneurship

This article discusses the concepts of entrepreneurship and innovation in the United Arab Emirates, with a focus on Couture, a fashion retail store. The article explores the purpose, values, and mission of the firm, as well as its marketing and implementation strategy. The article also discusses the risks and mitigation strategies associated with starting a new business in the UAE.

Running head: INNOVATION AND ENTREPRENEURSHIP
Innovation and Entrepreneurship
Name of the Student:
Name of the University:
Author Note:

1INNOVATION AND ENTREPRENEURSHIP
Vision and Opportunity
In about a period of just forty six years, the United Arab Emirates has grown s an
international hub of business and holds an immense array of opportunities in this respect. As a
student who has always been interested in business and having a good understanding of the
concepts of entrepreneurship, the only career option for me that I would like to impede on and
take up as a profession is that of entrepreneurship.
Purpose, Values and Mission
The purpose of Couture is to provide the best quality apparel at average price rates and
also serve the customers with new variety of apparel in line with the ongoing global tastes and
requirements
As of now, there will be three core values that the firm will concentrate and work upon:
 To adhere to conditions of sustainability in all the aspects of functioning including
manufacturing and supplying.
 To provide the best qualities of innovation through amalgamation of the western culture
with the ethnic
 To promote more education in the UAE by extending a portion of the profit generated
towards some of the universities that need funding
The mission of Couture as a firm will be to provide the customers with the best quality of
western as well as ethnic wear which is able to hold up to standards of comfort and styling.

2INNOVATION AND ENTREPRENEURSHIP
As one of my biggest passions is to keep up to the ongoing standards of fashion and apparel
designing and also to be a responsible and change brining entrepreneur, this is the option of
career path that best suits my tastes. The only fear in this respect is that as UAE is a growing
business hub, the firm will be retail store might be exposed to a lot of competition and rivalry.
Marketing and Implementation Strategy
Market Positioning Statement:
Couture as affirm will focus on:
 Providing the products and services to the group of people lying in the middle to large
income groups and also for all ages of people lying in the age group of youth to the older
generation
 Provide this group of customers with the most advanced and stylish garments that define
the variety of ongoing fashion trends around the world
 The provision of a wide range of prices along with offers in the beginning so that
customers belonging to all age groups can gain out of this and also provide delivery
services of the products to the customers on priority basis
As most of the United Arab Emirates is still holding on to the age old traditional wear and
this is because of the absence of opportunities to try out the newest fashion and define
themselves in an improvised and innovated way, this fashion retail store will be something new
and different from the business options that the mass in general are taking up or planning to take
up.

3INNOVATION AND ENTREPRENEURSHIP
In the broader context, the objective is to expand all over the UAE and thus set a standard of
fashion and style that is distinct and different from others.
Risks and Mitigation
Milestones to be reached by the firm will include reaching a global brand value through
higher revenue generation and expansion activities every quarter. To ensure these requirements
are met, the revenue generation and the popularity of the brand should be checked.
The external risks which are mainly competition will be overcome with the help of
techniques like expanding into regions where there is lower number of such retail stores and also
partnering in certain cases.
In case of help, I will be relying on my father, mother and sister who also hold an
entrepreneurial background.