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Assignment on Managerial Skills and Entrepreneurship

   

Added on  2019-12-03

17 Pages5690 Words139 Views
MANAGERIAL SKILLSANDENTREPRENEURSHIP

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. New venture concept and opportunity gap in market.........................................................12. Requirement of new business along with the management skills which are needed in orderto make business successful...................................................................................................33. Proposing the business model in order to explain that how new venture will achieve thepositive financial result...........................................................................................................64. Managing the business risk..............................................................................................115. Conditions which must prevail to avoid failure...............................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

LIST OF FIGUREFigure 1: Break Even Point............................................................................................................11LIST OF TABLESTable 1: Projected Profit and Loss Account....................................................................................7Table 2: Cash Flow Statement.........................................................................................................8Table 3: Balance Sheet....................................................................................................................9Table 4: Break Even Point.............................................................................................................10

INTRODUCTION Entrepreneur is the person who takes initiative in converting innovative idea into thepractical concept (Who is entrepreneur, 2015). This type of person plays very crucial role ingrowth of economy. However, in order to become the entrepreneur there are some soft skillswhich is required by an individual. It consists of problem solver, initiator, motivator andinnovator etc. For the present report, a business plan is prepared for starting a new healthy fastfood restaurant. This restaurant will be called by the name of Mr. Healthy. The report willprovide detailed description regarding the new venture concept. In addition to this, the study willalso showcase ways that entrepreneur will use with an aim to manage different type of risksassociated with stating of new business in an effective way. 1. New venture concept and opportunity gap in market The new venture concept such as Mr. Healthy will be the fast food restaurant which willbe started in United Kingdom market. The detailed description with respect to the new start up isgiven below:Features of Mr. Healthy fast food restaurant The new venture provides healthy and nutritious food to United Kingdom buyers.Furthermore, the organization will offer different type of foods which are rich in proteins as wellas carbohydrates. In accordance with the given context, number of dishes will be offered by themanager of Mr. Healthy fast food restaurant. It consists of burgers, patties, tacos and many moredishes etc. In UK, there are many firms which provides these kinds of foods and services(Connolly, Wolfgram and Santos, 2012). However, the product which is being offered by theseenterprises does not possess healthy element. Thus, with an aim to entail healthy element in thefood, varied type of modification will be performed in the food. For example, in order to makethe bread, wheat and pearl millet flour will be used. In addition to this, with an aim to maintainthe quality of vegetables, efforts will be made by the manager of organization in terms ofpurchasing fresh vegetables from the store. Through this way, high quality of product will beprovided by Mr. Healthy fast food restaurant to its respective buyers. By complying with thegiven type of activity, satisfaction of the customer will be maintained in an effective way. Furthermore, the product will be sold by Mr. Healthy fast food restaurant by using bothdirect and indirect means of distribution. In order to distribute product directly to buyers, thefirm will develop the website. This website will offer varied food options to its respective buyers1

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