Managing Entrepreneurship, Innovation & Creativity

Managing
Entrepreneurship,
Innovation & Creativity

Table of Contents
TASK 1............................................................................................................................................1
My story.......................................................................................................................................1
TASK 2............................................................................................................................................1
Theme – Organisations / Products...............................................................................................1
TASK 3............................................................................................................................................3
1. Introduction..............................................................................................................................3
2. Objectives................................................................................................................................3
3. Market research........................................................................................................................4
4. Target market / customer.........................................................................................................4
5. Marketing.................................................................................................................................4
6. Human resource.......................................................................................................................5
7. Operations – Business Canvas Model......................................................................................5
8. Legal issues..............................................................................................................................6
9. Financial...................................................................................................................................7
10. Risks, contingency and exit strategies...................................................................................8
11. Other issues............................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

TASK 1
My story
Managing entrepreneurship, innovation and creativity can be defined as the process of
developing a new business idea and maintaining it for long run in future. While introducing a
new business concept in the market it is very important for the individuals to make sure that they
focus upon the trends available in the market (Anderson, Potočnik and Zhou, 2014). I am a taxi
driver and currently working myself and I have a dream to own a cab company in future. I am a
disciplined person who want that all the things should be completed on time so that possibility of
error could be ignored. I have good customer service skills which will be beneficial for me in
future to strengthen the client base when I will be able to establish my business successfully. I do
not have an entrepreneurship background because my father does not own a business. It shows
that I am not having a past related entrepreneurship. I am coming from a simple background
where father used to work for a company and my mother is a housewife. While completing this
module I will be bringing different skills and attributes such as entrepreneurial qualities, creative
thinking, IT skills, decision making, competitiveness etc. In this module I will be working on the
theme of organisation / products for which I have planned to introduce an application “Cab
Way” in London which will offer cab services to the individuals and will be linked to google.
While booking cabs from the app the customers can select 2 of their contacts to whom they can
share actual status of their trip. It will be the most important step which will be followed by all
the customers while booking cab.
TASK 2
Theme – Organisations / Products
Entrepreneurship can be defined as the process of formulating an innovative business
idea which can help individuals to generate profit in future by establishing a successful business.
Nowadays most of the entrepreneurs are focusing on the concept of changing social environment
by introducing such products that are made specifically for social issues (Entrepreneurship,
2020).
Innovation is the process of turning converting an innovative concept in the solution of
different problems so that value could be added to the customer's perspective. While planning to
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introduce a new service or good in the market entrepreneurs try to formulate a unique concept so
that a new start up could be established successfully (Innovation, 2020).
Creativity can be defined as the idea of a unique product or service which has not yet
been used by individuals. It is a quality of human mind which can help them to analyse all the
things critically (Creativity, 2020).
Google was launched in year 1999 and after that life of people had been changed by it
because it provided them different types of services which led the world towards development.
There are various types of facilities which are offered by it to the individuals. These are map,
drive, photos, scholar, online payment system, assistant etc. It is changing the way in which
individuals are living their life as it has benefited them to spend less time to locate a place. After
1999 the way of working of individuals has also been changed because with the help of it they
can find easy ways to perform critical jobs and the way in which they perform all their tasks
systematically. There are various products and services which are launched after 1999. One of
them is Google pay which is one of the finest applications in the world which has enhanced the
standard of living of individuals because with the help of it they can make easy payments. It can
also be connected with watches (Ateljevic and Page, 2017). And this facility is currently
available in Australia, France, Spain, Switzerland, United Kingdom, Poland, Italy etc.
Effective product launch is main driver of the top performance and often sign;e costliest
stage ion the new product development. Before 1999, there was not any search engine and it is
complex to connect with the people to companies and the other people with each other. Post
1999, firms and products are changing their way to work and also do things. The change in the
technology impact on organisational productivity and reputation. Google changes the way of
people and the organisation. This is advertising powerhouse and developing product series that
run the live of people such as Android, Maps, Google Maps etc. These all things change the
working ways of people. After 1999, organisations give the information on google regarding its
products and services so that customers can easily search it and satisfying their requirements.
Through using the social media, firms can connect with the consumers and communicate with
them, determine their demands and fulfil their requirements in an effective manner. The
organisations create website and mention information about the company, products,
specifications, services and many other things (Bilton and Cummings, 2014). In order to aware
the customers about the new products or services, firms use the multi channel advertising to
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