Managing Entrepreneurship: Innovation and Creativity Report

This report discusses the concept of managing entrepreneurship, innovation, and creativity. It explores the idea of social entrepreneurship, motivation for setting up a social enterprise, and the challenges involved. The report also presents a concept plan for a social supermarket, including its objectives, target market, marketing strategies, human resources, operations, legal issues, and risk management.

Managing Entrepreneurship
Innovation and Creativity
Report

Table of Contents
TASK1.............................................................................................................................................3
My story: In the beginning (Introduction)..................................................................................3
TASK 2............................................................................................................................................3
Research questions- Option A, Theme Society...........................................................................3
TASK 3............................................................................................................................................5
Concept Plan...............................................................................................................................5
REFERENCES..............................................................................................................................10

TASK1
My story: In the beginning (Introduction)
I am an emerging entrepreneur who want to work for a social cause. I am coming from an
environment where individuals are motivated to do something creative and innovative. They are
trained to do all their work by own (Gillespie, Privitera. and Gaspero, 2019). My family always
asked me to be engaged in helping other people. I am coming from that environment where each
family member whether male or female has been given equal opportunity to grow. I always
wanted to work for a social cause but my family do not have adequate resources to fulfil my
dreams. So I started doing part-time jobs apart from studies. My father was engaged in doing
some sort of business, but then he failed rigorously. I am not from an entrepreneurial family. I
always wanted to work on failed dream of my father. He always supported me morally and
emotionally. My mother was a home worker, she always wanted me to grow and build my own
business which. I always possess some sort of entrepreneurial skills like I was innovative and
creative. In my studies I brought up creative and innovative solutions to my problems. Also I
have effective communication skills that assisted me in making better relationship with other
individual. I was a good decision maker, empathetic and honest. These attributes can assist me in
growing and setting my own enterprise. By this I will be able to achieve my short term and long
term goals.
TASK 2
Research questions- Option A, Theme Society
Social Entrepreneurship: Social entrepreneurship is an approach by start-up companies and
entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or
environmental issues. These type of enterprises work in order to improve living conditions of
people, help individual who are in need. They are developed for the sole purpose of working on
behalf of social cause, profit maximization is not their main objective. In this type of enterprise
leaders take responsibility of handling a social issue, they make use of ethical practices and also
fulfil corporate social responsibility. Entrepreneurs in this type of company are truly socially and
ethically conscious. They keep up a balance in their work and social life. All decisions which are
being made by leaders of social enterprise are towards improvement of society and environment.
In this type of organization leaders are involved in serving society. They work towards for
making a difference. All work done by leaders of social enterprise are ethical and legal. They try

to be transparent, ethical and honest with their consumers. Social enterprise also serves
environment like for example firm can engaged in making consumers to go for paperless bills in
order to save trees. They can also be involved in working towards reducing carbon emission so
that environmental conditions can be enhanced and improved. These type of organizations work
for betterment of society and environment.
Motivation in setting up social enterprise: I am engaged in setting up social supermarket
where products and services will be given to communities, group of people and individual on
discounted prices. This is because as many people are in need and have nothing to it. Target
consumers of my firm will be individuals who are suffering from problem of malnutrition. My
main motivation of opening social enterprise is to assist people not having proper goods to make
their living better. Also I want to remove problem of malnutrition among young and old aged
people. My other motivation is to give employment opportunities to individuals who are in need.
I will only be involved in appointing and selecting disabled people. Most of my employees will
be deaf and dumb as I want to support them by giving these people a living. By this way I can
contribute in the development of my society. My family also motivated me to do be engaged in
work which provide benefits to other people. They really helped me in setting up social
enterprise. Also I wanted to work for development of women, as my mother always suffered
because of lack of education. She could not live her dreams. So serving for social purpose is my
main objective of opening social enterprise (Roberts, Murray and Kim, 2019).
Social enterprise business is also being set up for sole purpose of employment to
disadvantaged group in society. Also business that develops products and services which meet up
the demand of community is one of the motivation to set up social enterprise. I will also be
engaged in redistributing my organization profitability in charitable programs and campaigns so
that I can assist people who are facing lots of problems and issues. These aspects can help me in
developing goodwill of my social super market. I would be able to mark by presence in market. I
have also thought about that with profit generated by my social supermarket I will also sponsor
education of females and girls. I will provide them with opportunity to grow. By this I can also
become the best employer for women. I will focus on developing more women entrepreneurs by
providing girls with knowledge and adequate resources that can assist them in growing.
Performing corporate social responsibility is the main objective of social organization. In this
they make sure that effective utilization of resources is being done so that future generation do

not suffer from any problem. In these enterprises are engaged in reducing their energy
consumption.
Issues which are involved in setting social enterprise: There are various issues and
challenges that can be faced by my concept plan. Like for example providing training to disabled
employees can be really hectic and frustrating. It could take lots of time in imparting training to
them. Social negligence claims can also be faced by my enterprise as my organization is also
involved in serving training and financial advice. Managing diversification can be one of the
issue which can hamper working of social enterprise. Also other challenge that I can face is it
can happen that most of the individuals do not trust me at initial level, so strategic planning
needs to be done by me in order to gain their trust. This can take lots of time and efforts which
can be put on other productive methods. Also social enterprise needs to keep a balance on social
and work life. This one aspect can be challenging and hectic. All growth of business depends on
this aspect (Chen, 2018). Competition, diversification and interference of local authority is
increasing so it can be really tough for various organizations to retain social purpose. It can also
hinder growth of social enterprises. Availability of adequate resources can also be one of the
reason that can hinder growth of social organization, so firm needs to work on it. They need to
make sure, also employees have right form of resources, and they are assigned right job to do.
Another challenge which can be faced by social enterprise is increasing competition. Many
organization will encounter difficulties in striking the right balance between diversifying into
new revenue streams and maintaining a core ethos. So social enterprise needs to be engaged in
making strategies by which they can overcome these problems.
TASK 3
Concept Plan
Introduction-
The concept of business is social supermarket in which goods are offered to the
malnutrition individuals at discounted price. Then the some amount from that is utilized for the
study of women's and girls further. The dumb or deaf people are also get trained by them so that
they can learn and develop new skill, have further career growth in the future. Overall company
works for the welfare and social cause and contributing their all over profit for the needy
peoples. There are many opportunities for company as they can further become a huge social

company who is contributing in helping the needy people. They could easily achieve huge
success and growth further. There various similar opportunities which can be opted by company.
Objectives-
 To educate the over 2000 females till 2021.
 To provide skill education to deaf and dumb people.
 To render goods to malnutrition people at low pricing.
Market Research-
Market research has been conducted before only so that company can easily manage and
control its business operational and functional activities in such a way that it could be helpful for
companies overall success. The primary and secondary both data are collected for research. In
primary research the face to face surveys will be utilized, so they can analyze what are the needs
and requirement of the individual in marketplace (Ahlstrom and et.al., 2018). In secondary
research the data are collected from the newspaper, journals, article and books which will be
further helpful in research. This both methods will be useful for company to analyze current
market situation and then further work upon their strategies. The major competitors of company
are Shop Group Community and several welfare communities which are present in marketplace.
Target Market/ Customer-
The target market of company will be the malnutrition individuals, females and deaf &
dumb peoples. This all is main target of company as they need to work for social cause and helps
needy people in such a way that their requirements and needs can be fill up. The people of all age
group are targeted significantly but then also deaf & dumb individual and female of age group
20-30 are majorly targeted who are looking for studies, career development further. This is
helpful for company to specifically target such group and provide them better education and skill
development program training so that they can further educate or learn easily. The better
education will be provided to the female and girls which is helpful for them in great career
building and gaining huge success & better career opportunities (Colombelli, Krafft and
Vivarelli, 2016). The deaf & dumb people by developing new skill will develop new talent and
skills in them and get growth in life.
Marketing-
Marketing and promotion will be done by advertising the content into radio, newspaper
and billboards that can be easily seen by the needy people. Thus, then they can come to collect

the product for themselves at discounted prices. The high tech promotions will not be used for
this as the needy people do not have that much source by which organization could easily
promote and advertise their product and services. The social campaigns will also be helpful for
promoting the company and its supermarket where needy people could purchase the squired
products at low pricing (Lounsbury and et.al., 2019). Company will easily get through this and
promote wide range of individual and gather deaf& dumb people who will be given training
program to them. The minimum amount will be used by company for promoting and marketing
their goods and services, education and skill development program.
Human Resource-
The appropriate human resource will be needed by company for dealing with individual
and several issues which are related to the people that are benefits & compensation, hiring &
recruiting employees, on boarding worker, performance management, training & development of
company and its culture. It is very helpful for company to manage employees and resources in
such a way that it can be profitable to company (Link, 2017). The efficient and skilled talent are
to be search out by human resource department so that employees can effectively work in the
favor of organization's growth and development. The motivated and skilled employees will be
helpful for encourage them to work for the betterment of company.
Operations-
Operation is task of managing the internal working of business so that it could be run
efficiently as possible. Business Model Canvas is the systematic business model in which each
and every segment has been focused. It is tool which is helpful in understanding business model
in structured and straightforward way. This can be explained below-
Business Model Canvas
Key Partners
Suppliers
Retailers
Stakeholder
Competitors
Key Activities
Marketing & selling
Educating girls and women
Providing skills program to deaf & dumb
people.
Key Resources
Human Resource
Value Proposition
Social cause

Equity Malnutrition individuals
Deaf & dumb people's skill training
Educating women and girls
Customer Relationship
News paper
Radio
Billboards
Customer Segment
Women & girls
Deaf & dumb people
Malnutrition individual
Channels
Campaign
Cost Structure
Salary
Transportation
Revenue Streams
Selling products => profit (Boone and et.al.,
2019)
Legal Issue-
There can be any legal issues that can be faced by company further. But for overcoming
that issues they need to levied under the law so that they no need to face any legal issues further.
Company must comply with all laws and regulation which is further helpful for company to
compete with the rivals in market effectively. They can use the laws in such a way that company
can use that for their overall growth and development (Yan and Yan, 2016). The health and
safety act must be followed by company so that they can provide safe and healthy working
environment to their employees. The Equality Act will also be followed by company where
equal opportunities are given to all their employees.
Risk, Contingency and Exit Strategies-
There can be several risks which can be furthered beard by company. One of the major
risk which can be faced by company will be financial risk. As the company is investing their
whole profit and revenue into the social cause and rendering welfare services to the needy
people. Many of the welfare cause are being operated by company. The source of income for
company is supermarket. Along with they also have risk from its competitors who are present in

marketplace. The company can further risk from many other social communities also and its
suppliers as the pricing of the goods which has been taken by company from them could enhance
then it can have a loss to company in future as company can not provide the goods to their
consumer at low pricing and if they will be availing to do, so they could not get that much profit
further and could further use it for social cause (Sunny and Shu, 2019). The profit money ids sent
by company in rendering education to needy girls and women, skill training program to deaf &
dumb people. Exit strategy that can be used by them will be they will stop this training program
and education to girls. Further they will also have their supermarket to run at minimum pricing
so that they can again start earning profit, that money will again utilize by them in the social
cause which company was doing further. Or another exit strategy that can be used by company
will be they could have a partnership with the firm and continue their business operation activity
for future.
Other issues-
The other issues will also be faced by company that can be employees related, resource
allocation related, suppliers related etc., This all issues will be further solved by company in
effective way that the profit of company could not be effected by this anyhow. The management
and controlling of all the functional & operational activities is being efficiently done by
company, With the help of human resource management all staff related issues can be easily
solved. Further skilled and talented employees are to be recruited in the company so that they
can be profitable to company. The employees of company will be motivated by the HR
department so that they can be work for the betterment of organization (Naranjo-Valencia and
et.al., 2018). Thus, all employees related issues will be solved by the HR department in and
communicating with them on regular basis by which they can easily solve their problems. With
the help of budgeting and financing department company could easily allocate resource in such
way that they can be utilized for the company's overall growth. The suppliers related issues will
be solved by the operation department of company and rendering their supplier who can provide
the good at minimum price so that they can be helpful for company to provide low pricing for
goods and services to the malnutrition individuals.

REFERENCES
Books and Journals
Ahlstrom, D and et.al., 2018. A global perspective of entrepreneurship and innovation in
China. Multinational Business Review
Boone, C. and et.al., 2019. Top management team nationality diversity, corporate
entrepreneurship, and innovation in multinational firms. Strategic management
journal.40(2). pp.277-302.
Chen, Y., 2018. Blockchain tokens and the potential democratization of entrepreneurship and
innovation. Business Horizons.61(4). pp.567-575.
Colombelli, A., Krafft, J. and Vivarelli, M., 2016. Entrepreneurship and innovation: New entries,
survival, growth. Work in progress in the Groupe de Recherche en Droit, Economie et
Gestion (GREDEG), University of Nice-Shopia Antipolis.
Gillespie, J.J., Privitera, G.J. and Gaspero, J., 2019. Biopharmaceutical Entrepreneurship, Open
Innovation, and the Knowledge Economy. Journal of Innovation Management. 7(2).
pp.59-77.
Link, A.N., 2017. Ideation, entrepreneurship, and innovation. Small Business Economics, 48(2),
pp.279-285.
Lounsbury, M. and et.al., 2019. Culture, innovation and entrepreneurship. Innovation.21(1).pp.1-
12.
Naranjo-Valencia, J.C. and et.al., 2018. Entrepreneurship and innovation: Evidence in colombian
SMEs. In Handbook of Research on Intrapreneurship and Organizational Sustainability
in SMEs (pp. 294-316). IGI Global.
Roberts, E.B., Murray, F. and Kim, J.D., 2019. Entrepreneurship and innovation at MIT:
Continuing global growth and impact—an updated report. Foundations and Trends® in
Entrepreneurship.15(1). pp.1-55.
Sunny, S.A. and Shu, C., 2019. Investments, incentives, and innovation: geographical clustering
dynamics as drivers of sustainable entrepreneurship. Small Business Economics. 52(4).
pp.905-927.
Yan, J. and Yan, L., 2016. Individual entrepreneurship, collective entrepreneurship and
innovation in small business: an empirical study. International Entrepreneurship and
Management Journal.12(4). pp.1053-1077.