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Managing Entrepreneurship, Innovation & Creativity: Assignment

   

Added on  2021-02-20

12 Pages3413 Words96 Views
Managing Entrepreneurship,Innovation & Creativity

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Description of the business idea..................................................................................................1TASK 2............................................................................................................................................2Social entrepreneurship...............................................................................................................2TASK 3............................................................................................................................................4Development of the concept plan................................................................................................4CONCLUSION................................................................................................................................8REFERENCE...................................................................................................................................9

·INTRODUCTIONInnovation management includes a set of tools that allow managers plus workers or usersto cooperate with a common understanding of processes and goals. Innovation managementallows the organization to respond to external or internal opportunities, and use its creativity tointroduce new ideas, processes or products(Burns and Dewhurst, 2016). Managingentrepreneurship is a process of designing and launching a new business in order to earn profit.In this the major skills to become an entrepreneur includes innovation and creativity. Report willinclude understanding of the theoretical business start-up, growth activity and risk factorincluded in it. It will also present the understanding about social entrepreneurship and themotivation to settle up the social enterprise. Study will also highlight the key area of marketingresearch.·TASK 1·Description of the business idea.Being an entrepreneur is not at all the easy task. Entrepreneur is the person who identifyan opportunity or create idea for a business and peruse the business taking a higher rate of therisk than the ordinary financial risk. Background of my story is that I belong to a middle classfamily earning revenue from our family business of cafe. I always want to expand my familybusiness and convert this old cafe into a restaurant. My family been always been there in thisbusiness only. Almost having the different ideas to for this cafe, I always want to convert thecafe into a restaurant. The skills I am having to peruse the business are- ·Curiosity which helps me in identifying the new problems, reveal potential opportunity andhelp in innovation. It also helps me to be passionate about the case study of the different fieldsoutside by comfort zone.·Communication- being in the field of the beverage I have crisp and to the pointcommunication skills to communicate properly with customers and staff members whichsomewhere help in increasing effectiveness and efficiency.·Strategic thinking- to find out the creative way through pressure or the breakdown to revealthe new opportunity and recognisance of the less profitable fruit in the basket can only bepossible with the communication skills(Burns,2016).

·Risk management – the cluster of the skills of problem solving, analytical skills andnegotiation come under the risk management. It will help me know how to arrange finance andnegotiate with the parties in the development process.So these are the major skills that are motivating me to pursue towards my dream project.l壱TASK 2l弐Social entrepreneurshipIt is an innovative approach to solve old community based problems. These are theindividuals who are passionate and more determined about their work. They are more motivatedpeoples whose main aim to change the face of the society by their modern approach. Their maingoal is not earning profit but rather than to implement the improvement in the society thus theyare people who present everywhere whether it is environmental issue, social issues and culturalissues. The social entrepreneurship started for the support of local society. The socialentrepreneurship started for earned the money to selling something to the local society like thechildren soap for hand washing (Dana,2018).Florence Nightingale (U.K.)- She was established the first nursing school as a socialentrepreneur.Social entrepreneurs emphases on improving living of people in the society and resolvingtheir problems. Social entrepreneurs have innovative solutions through which they deal withsocial problems and work for the social welfare. These enterprises transforms social capital inmost significant manner so that it can give positive results to society. The social market is the best ideas for selling product in discount rate. In the societymany people have no enough money for the study so when the another person who able to buybooks they can donate their book after end of the semester. Many people no have stove or anyother resources for cooking food so who can't afford money for purchase stove , take them tofree of cost.The social business is not profit earning organization . The social business and the socialenterprise both are same . The investors are invest money for social business not only profit butalso for the social service .Examples of social entrepreneur are

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