New Ventures and Entrepreneurship Analysis

This assignment delves into the world of new ventures and entrepreneurship, providing an in-depth analysis of the concepts, frameworks, and techniques involved. It covers the role of entrepreneurs in firm-level innovation, the importance of private equity and venture capital, and the implications for new venture internationalization. The assignment draws from various sources, including academic journals and books, to provide a comprehensive understanding of the subject matter.

LAUNCHING A NEW
VENTURE

INTRODUCTION
In this world there is a huge competition and particularly in same environment, it is quite
complex to launch a new venture in market. Entrepreneurs are those who need an effective skills
and abilities to make out there business in the market. Specifically, entrepreneurs are those who
has some aims and objectives for which they do establish in market environment. Even though,
firm to make themselves ready to face many more challenges and cut-throat competition which
do manipulate them to earn a good amount of profit too (Baron and Tang, 2011). The report is
based on Ultimate Bakery Shop that is going to start in London, UK. Basically business will
serve millions of people with there product like, bread, cookies, cakes and sandwiches etc.
Generally, it is required to analyse market conditions, expectation of customer etc.
Assignment will discuss about, tangible and intangible resources needed to launch
venture. Basically, it is such which do produce an proposal with assess as skills and capabilities
for having an new business. Promotional activities and channels which undertake and also
develop launch or pre-launch.
TASK 1
P1 A new venture which do identify the target market and competitive analysis.
Ultimate Bakery shop is that which do deal in with various product and services that do
sell products in market place. Basically, in present scenario different people are there who are
having an habit of purchasing an baked products like pastries, burgers and cakes too. In terms,
the business is going to be started in the mid of London, as because this can help in attracting the
large number customer towards the company in better way (Bijker and et. al., 2012). Normally a
plan is made up which do cover various thing.
Even though, they are going to start a new business venture which do lead to Ultimate
Bakery Shop that do open up in the area of around 2500 Square foot place in market. Normally, a
accurate amount is required to open a business and it could be around an £ 4,28,350 to
£4,30,500.
Objectives:
 Main motto is to earn profit in right format in starting few years then Boom side.
 To provide an quality product and services according to customer needs and wants.
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 To become the best bakery shop in near by places where it is located and afterwards to
enhance furthermore too.
 To enhance productivity to expand there business in great way.
Mission:
“To provide an effective product and services to customers at reasonable rates according
to consumer needs and wants”.
It is such which lead for entity to work hard and to choose better modern equipment for
attaining goals and objectives in great manner (Caselli and Negri, 2018). Even though, it also
lead to provide those food items which could consider the human health postures. Quality in
product and satisfaction among customer can make them stable in market and also attract many
other people attracted towards firm too.
Target Market: It is such which is considered as an needed concept which needs to be
undertaken while making an effective strategies and decisions as because this could help entity to
focus on specific scenario to provide there product and services in great manner. Basically,
segmenting an market according to the requirement of consumer demand and needs, even though
this also include some of the things and components like there income level, gender, region and
age etc..Ultimate Bakery Shop do make an target audiences so that can make an proper policy
and procedure in there entity based on same too.
Competitive analysis: It also consider in with various competitors who do deal in with
the same products in great manner. Basically, there are huge number of competitors which is
being available in market and with whom the ultimate bakery shop has to fight up on. Specially,
it needs to cover the large market of London. To gain a better competitive advantage in market, it
is required to make a proper strategy and decision with having an innovation and creations in
various products of firm (Burns, 2017). Normally, it is quite necessary for the entrepreneur that
also needs to determine some plans which do formulate it in effective way too.
P2 Tangible and Intangible resources which required for a new venture.
Launching a new business in market is not easy term, even though it is required to bring
in a proper plan before implementing or establishing a entity. Many considerations are there
while formulating a plan and it do include resources as (proper funds, financial availability,
modern technique to produce product and services etc.) which do help entity to work in right
direction and even in effective way too. Ultimate shop do sell there product and services to large
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market and it include thing like Cakes, pastries, Ice Creams etc. is all available with shop at good
prices for fulfilling customer demand and services in effective way. For start-ups it is required to
have an resources that is required for proper running a business as this is being considered with
some food materials and many others things as well (Fernhaber and 2013). Resources are
considered as tangible and intangible which can be understood in right way too.
Tangible Resources: It is that which do undertake various resources which do have an
physical existence that can be used to plant, tool and having an element with materials. Basically,
organization is having an entire necessary resources which do help in running there business in
great way. Finance is that resource which is involved as important part for opening a new
venture. Ultimate bakery shops are such established and looking forward to develop different
tangible resources and leads to compulsory that leads to include various lands, machineries,
refrigerators as this make an better stuffs in food with having an proper efficient way too.
Intangible resources: It is thus that which do include needed resources for establishing
an proper business in great way. It is such which do consist of several components as goodwill,
patent, corporate and having an customer relationship which do help in playing an crucial role
which do get success in effective way. Basically, existence of these things are as having an
physical existence with intangible asset that it also help in considering various thing like
copyrights, trademark, different methodologies which is having an beneficial and also lead to
identify with recognise with specific brand as well as firm.
In other words, intangible resources are that which is required by each and every
organisation as because it is such which do support in having an brand identification, employee
attribute or market reputation too and it is regarding to activities (Hmieleski, Cole and Baron,
2012) . Ultimate shop is such which do focus on employee behaviour and attributes that do lead
to treat in with every customer in great manner, so that it can satisfy there needs and wants.
Basically, they do remember the firm in having an buy with baked site. Customers are having an
loyal long term benefits with the company.
Even though, it is such which do help in analysing the resources that also operate
business and lead to perform various activities and functions in great way. Generally, it has
became an mandatory for small companies that they has to make it possible outcome in which
they utilise tangible and intangible resources in great way.
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TASK 2
P3 Produce an credible proposal to launch new venture,
It is such which looks forward to launch a business firm to get start, basically it is such
that required to have an adequate plans. Basically, it is that which do consider and also produce
an proper plan that make company to attain its goals and objectives in great way. Formulation by
having proposal that also needs to consider every necessary plans and actions which do take
place in there near by place (Kariv, 2013). Proposal is also having an component that also
describe various thing with whole details and they also meet up with company mission or vision
in great way.
Basically, in Ultimate shop, a accurate plan is needed with some specific details too.
Executive summary Ultimate Bakery is such which do sell baked
and confectionery products which do include
various things like burgers, sandwiches and
pastries etc.
Company Description It is though that individual will start a new
business with the name as Ultimate Bakery
shop and it is required that they will provide an
food and beverages to there customers in great
way in the middle part of London.
Entrepreneur has taken such place for running
its business too.
Market Analysis To run an business, It is there that they should
have an effective planning with strategies
which will do support in expanding business in
great away. Owner is having an focusing
which has business expansion that will be
possible for having an analyse with trends and
conditions. SWOT and PESTLE also lead to
examine and study different environment in
great way. Even though , it is such which will
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support in achieving an competitive
advantages.
Financial Projection Looking forward to launch a business venture,
it is needed to have an proper funds and
financial term without having an resources,
company cannot run in great way. Even
though, Ultimate Bakery Shop is such which
make an adequate budget for having an
decision that having an minimum capital for
starting various functions and also lead to
operate several activities in better way.
Benchmarking Setting benchmark makes them to have an
effective way. It is such which ensure customer
employees that do perform in with every task
and it is being done according to set standard.
P4 Capabilities and skills are required to launch a new venture.
In this, business is such which do start and operate in great manner by utilising better
knowledge and skills which do lead to have an effective way (Klotz and et. al., 2014). Owner
should have an better skill, qualities which do help in supporting an earning high profit with
attaining a goals and objectives in great way. Number of skills and abilities is required for
defining acquired by owner too:
Risk Taker: Entrepreneur and owners are those who should have a courage to take risk
which do lead to operate market. Basically, Ultimate Bakery shop that has to launch such in
effective manner which do make them ready to go face with some of critical situation. This is
such which do make company to attain goals and objectives.
Leadership skills: It is such which help company to enhance performance and
productivity with profitability in great manner. Leaders are those who do also support its
employees as they do motivate stimulates which do help in increasing an work productivity and
help them to attain goals and objectives (Kuratko and Hornsby, 2017).
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Presentation proposal: This needs to be have an important and necessary component
that do have an appropriate presentation of work and plans in front of people which will make
them to understand everything in more and great efficient way. Moreover, entrepreneur of
Ultimate bakers needs to display there ideas and views that help in planning with achieving
competitive advantages in better way.
P5 Different promotional activities and channels for launching new venture.
Various tools and techniques are there with purpose of having an particular business with
product or services in effective manner. Entrepreneur is that which consider accurate strategies
and promotional tools for having an launch a business in market place. Some of the important
tools of promotion are as:
Social media: It is such which do include like Facebook, Instagram and E-mails etc. The
Ultimate Shop do use these social media platform to make people of UK aware about the entity
in great way (Morris, 2015). These can help company to attain goals and objectives in great way.
Personal promotion: Every business is such which do develop different thing which do
help in public relation as it is quite helpful component in with small and medium enterprises as
do make it better relation with among the long term benefits with organization.
Mobile billboards: It is considered as promotional tools as it involved various
information to target audiences. It is such which do include various symbol of stickers, punch
line with logos. It also help in promoting an venture with efficient way.
P6 Appropriate promotional activities plans and for launch and pre-launch.
It is such which consider as in which firm is required to make plan for purpose of
promoting new venture competitors. It includes with planning activity for business as how it will
promote product and services with pre-launching and launching new venture too.
Pre launch: In this process, company is having an particular websites and it also lead to
promote the new ventures. In this promotional technique used to promote product and services.
Some of the innovative thing can be said as pre launch in great way.
Launch promotion: Basically, firm do focus in attracting with customer and having an
number of people that work toward as they also being recalled of public in great way (Robb and
Watson, 2012). Ultimate bakers are those which should have an different modes of promotions
that create an awareness among the various people.
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TASK 4
P7 Cash budget for having an pre-launch phase.
There is an great and defined budget for launching an new venture for having as Ultimate
Bakers and its monthly cash budget as:
consider this and made a cash budget for pre-launch phase such as:
Year 2015 Jan Feb Mar April May
Food Sales amount 42,152 42,563 43,526 43,568 44,124
Beverage Sales 19,751 12,451 12,456 13,452 14,528
GROSS SALES (Total) 61,903 55,014 55,982 57,020 58,652
COGS
Food 14,525 14,046 14,364 14,377 14,561
Beverage 6,515 3,113 3,114 3,363 3,632
GRAND TOTAL 21,040 17,159 17,478 17,740 18,193
GP 40,863 37,855 38,504 39,280 40,459
General and
Administrative
Workers Salaries 15,476 13,754 13,996 14,255 14,663
Management Salaries 3,400 3,400 3,400 3,400 3,400
Employer
Taxes/Benefits (15%
Wages) 2,265 2,058 2,087 2,119 2,168
Employees
Compensation (6%
Wages) 1,133 1,029 1,044 1,059 1,084
Advertisement 800 800 800 800
800
Bookkeeping 150 150 150 150 150
Credit Card Charges 619 550 560 570 587
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(1%)
Insurance 250 250 250 250 250
Legal and Professional
Fees 100 100 100 100 100
Misc. Other 250 250 250 250 250
Office Supplies 175 175 175 175 175
Rent 3,200 3,200 3,200 3,200 3,200
Repair and
Maintenance 300 300 300 300 300
Small Equipment 200 200 200 200 200
Telephone [phone]
Garbage 200 200 200 200 200
Utilities 1,200 1,200 1,200 1,200 1,200
Total Gen. and Admin.
(Fixed) 29,867 27,766 28,062 28,378 28,876
NET PROFIT OR LOSS 10,996 10,089 10,443 10,901 11,583
SBA Loan 3,582 3,582 3,582 3,582 3,582
Cash Flow After
Financing 7,414 6,507 6,861 7,319 8,001
Draw 4,000 4,000 4,000 4,000 4,000
Net Cash Flow 3,414 2,507 2,861 3,319 4,001
Accumulated Cash
Flow 5,921 8,782 12,101 16,102
Average Daily Sales /
22 days 2,814 2,501 2,545 2,592 2,666
June July Aug Sept Oct Nov Dec YTD
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2013
44,325 44,658 45,210 45,325 46,251 46,325 47,125 5,35,152
15,574 15,487 16,421 16,251 17,452 17,245 17,845 1,88,913
59,899 60,145 61,631 61,576 63,703 63,570 64,970 7,24,065
-
14,627 14,737 14,919 14,957 15,263 15,287 15,551 1,77,215
3,894 3,872 4,105 4,063 4,363 4,311 4,461 48,806
18,521 18,609 19,025 19,020 19,626 19,599 20,013 2,26,021
-
41,379 41,536 42,606 42,556 44,077 43,972 44,958 4,98,045
- - - - - - - -
14,975 15,036 15,408 15,394 15,926 15,893 16,243 1,81,016
3,400 3,400 3,400 3,400 3,400 3,400 3,400 40,800
2,205 2,212 2,257 2,255 2,319 2,315 2,357 26,618
1,102 1,106 1,128 1,128 1,160 1,158 1,179 13,309
800 800 800 800 800 800 800 9,600
150 150 150 150 150 150 150 1,800
599 601 616 616 637 636 650 7,241
250 250 250 250 250 250 250 3,000
100 100 100 100 100 100 100 1,200
250 250 250 250 250 250 250 3,000
175 175 175 175 175 175 175 2,100
3,200 3,200 3,200 3,200 3,200 3,200 3,200 38,400
300 300 300 300 300 300 300 3,600
200 200 200 200 200 200 200 2,400
150 150 150 150 150 150 150 1,800
200 200 200 200 200 200 200 2,400
1,200 1,200 1,200 1,200 1,200 1,200 1,200 14,400
29,256 29,331 29,784 29,768 30,416 30,376 30,803 3,52,684
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-
12,122 12,205 12,822 12,788 13,661 13,596 14,155 1,45,361
3,582 3,582 3,582 3,582 3,582 3,582 3,582 42,984
8,540 8,623 9,240 9,206 10,079 10,014 10,573 1,02,377
4,000 4,000 4,000 4,000 4,000 4,000 4,000 48,000
4,540 4,623 5,240 5,206 6,079 6,014 6,573 54,377
20,643 25,266 30,505 35,712 41,791 47,804 54,377
2,723 2,734 2,801 2,799 2,896 2,890 2,953
P8 Legal form for venture.
It is such which make them to work in proper manner, it is required to determine some
appropriate structure. It is kind of important firm that also needs to have an better structure that
also lead to formulate by UK government. Several forms are as:
Sole proprietorship: In this owner of entity is such who start and also operate business
on there behalf too (Read and et. al., 2016). Individual person is having an responsibility to
operate business and maintain firm in more great way. It is considered common for of structure
that also having an inexpensive process that also helpful in creating an basic report.
Partnership Firms: It is another way for launching a new business or venture with two
or more person that do come up with having an appropriate with necessary resources that do
include land, capital and having an physical material for a new business. They even do deal in
with operating firms and also decide it to divide the profit by sharing among every partners.
Basically the major point of partnership is having an every individual that do loss or risk if it
could occur.
Public sector: It is that which defined which do have some public sector that operate and
run by government only. It is such which do share general hold by public as this is also like
which do include various things that having an public and private limited that do depend on
nature as business. These, firms are such which usually owned and operated by government and
privately ownership in which depend on firm too (Simon and Shrader, 2012). This is considered
as gaining an financial profit and also achieve advantage.
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CONCLUSION
From above report, concluded as new ventures are those who play an effective role in
developing market and economy of country. Entrepreneur are those who require some of several
resources that also operate business tangible and intangible so that having an entire activities and
functions that can be performed in well and better manner. Even though, individual needs and
various skills and knowledges as well with abilities that they can make them to have an proper
decisions too.
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