Entrepreneurship and Business Development: Natural Beauty Business Plan

MODULE TITLE ENTREPRENEURSHIP AND
BUSINESS DEVELOPMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Overview.....................................................................................................................................1
Presenting causation and effectuation impact on innovation......................................................1
Competitive analysis...................................................................................................................2
STP analysis................................................................................................................................3
Drawing on relevant frameworks and concepts, discuss your proposed business model and
explain how the new venture will work......................................................................................4
Marketing mix.............................................................................................................................5
Risk mitigation strategy..............................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Business plan can be defining as document that is consisted of idea, market analysis and
strategy that allow organization to accomplish their organizational goals in limited frame of
time. Along with this, it is very important for company as it helps the firm in evaluating and
mitigating the risk before launching new product or services in the market. Moreover, the
present report will be based on new start-up Natural beauty that will be dealing with organic and
herbal skin care beauty product. In addition to this, firm will be operating its business in UK.
Lastly, the report will discuss the effect of causation as well as effectuation on innovation.
MAIN BODY
Overview
Due to pandemic there has been drastic change in taste and preference and it has shifted towards
buying healthy and essential product. Along with this, due to lock down there has been increased
in growth of organic company. So natural beauty has decided to sell herbal skin care to their
customer in order to improve their health.
Vision
To be the most influential skin care company in the world
Mission:
To expand our knowledge in natural skin care, create exceptional products, educate and give
back to the community.
Presenting causation and effectuation impact on innovation
Enterpriser is defined as way of conducting business in order to earn profit. Along with
this, it has to fight for survival as well as with less resources as well as to fulfil the needs of
customer. There are two types of method in entrepreneurship such as causation and
effectuation. The causation method is also known as casual thinking process as in this way
enterpriser focus on predefine goals and then aims to find the means to reach goal (Yan and
et.al.,2018). Whereas, in effectuation a business makes use of the material it has as well as
materialize into one or more goal and predefined them. Although Start-up business that use of
effectuation approach have to share ideas, and they perceive such network resources as having
high value. On the other hand, enterpriser that are using causation approach have limited
resource and share ideas with other company. Along with this, innovation is very important for
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business as it helps the company in increasing overall growth of the firm. It allows enterpriser to
develop new product and services that helps in attracting large customer. Moreover, natural
company has adopted for new idea that is making organic beauty product such as Scrub and
essential oil. Along with this, this innovative idea will be successful for running the company as
such industry is in high demand. Due to this innovative idea firm will be able to sustain in the
business environment as well as innovation contributes in building productivity as well as
performance of form.
innovation as a change that adds value to an existing product or service (Cunningham and et.al.,
2019).
Due to high competition Natural beauty need to make innovative product in order to
sustain in business environment. Along with this, innovation is basically replacing old product
into new by updating them or improving it. This is one of the most important tool for enterpriser
as it helps in meeting the dynamic changes of market. Furthermore, an innovative business has
an ability to handle tough situation and it can easily meet market demands as well as trend.
There is relation of innovation and business as it helps in creating development such as
designing of brand (Namibian, Wright and Feldman, 2019). For example, Natural beauty have
launch new product in order to start their organization. It came up with the idea of herbal and
organic beauty material so that it can meet their market demand. Thus, innovation will give
organization with various opportunity like increasing growth and performance as well as keep
company with meeting needs of market current trends. Along with this, Natural beauty will
make use of social media marketing so that it can create brand awareness in the market. Hence,
it will help the company in building brand recognition. Moreover, it contributes to the current
success by meeting future needs as well as helps in finding solution to make company grow.
Competitive analysis
Basis Natural Beauty Bloom natural Awake organics
Products There are different types
of products offered by
company such as skin
care, hair mask, body
mask and lotion, Night
Handmade Cornish
organic and natural skin
care, on-eyelashes,
botanical extracts.
Some products are
deodorant, vegan skincare,
cruelty-free cosmetics,
sustainable biodegradable
ingredients.
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