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Managing Human Capital and Entrepreneurship | Assignment

   

Added on  2020-12-24

8 Pages2116 Words185 Views
Managing Human Capital andEntrepreneurship

Table of ContentsINTRODUCTION...........................................................................................................................1BUSINESS PLAN ..........................................................................................................................1Executive summary.....................................................................................................................1Opportunity ................................................................................................................................1Market Analysis .........................................................................................................................2Execution ....................................................................................................................................3Company and management summary ........................................................................................4Financial Plan .............................................................................................................................4CONCLUSION ...............................................................................................................................5REFERENCES ...............................................................................................................................6

INTRODUCTIONHuman capital is the storage of knowledge, habits, social and personality attributesincluding creativity embodied in ability to perform labour to produce economic values. On theother hand, entrepreneurship is activity of setting up venture and taking on financial risks in hopeof profits (Chaudhary and et.al., 2018). In the present study, a person who is start-upentrepreneur seeking funding for new venture in retail industry. It will explain business ideas, setout budget and identify challenges that arising in venture.BUSINESS PLAN An entrepreneur creates their business plan carefully for starting up new venture. Ifenterpriser is not sure of facts and ideas, this planing helps to think thoroughly, study andresearch. Opening up new business can be very expensive lesson in the value of planning (.(Chambers and Humble, 2017). An entrepreneur creates business plan in which differentelements such as financial, production, personnel etc. This helps enterpriser in increasingnecessary funds. It informs investors, suppliers, and stakeholder about venture. Then anenterpriser assembles necessary resources to start new venture.Executive summaryFinding team: Being start up entrepreneur, it is necessary to find team by identify talent,skills and knowledge for opening new business. It is difficult and stressful of start up for pickingup right team in business. Know money flow: An entrepreneur knows about profits and loss of business is notenough.Enterpriser makes sure that there is not unnecessary wastage of money in venture. It isalso difficult to take decision to overcome of this challenge.Generation of business ideas: This step needs generation of an idea that can beconverted into business. The thought able to output a reasonable return of investment that it isworthwhile for implementation (Watson and McGowan, 2018). There are different sources thatdiscovered business ideas. It includes observing market, prospective customers, study of projectsprofiles, development in other nations etc. Opportunity Identification of business opportunities: Business opportunity refers to business ideasthat can be converted to profitable venture. An entrepreneur is able to identify such enterprisethoughts that regenerate to gainful business project. While selecting an idea to work with, an1

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