Opportunity, Innovation, and Entrepreneurship: A Study

This study explores the relationship between opportunity, innovation, and entrepreneurship. It discusses how entrepreneurs create job opportunities and develop innovative products and services. The study focuses on the insights of Ms. Anna Laub, the entrepreneur behind Prism London Limited. It emphasizes the importance of market research and a positive work environment. The study also provides recommendations for new entrepreneurs and highlights the significance of maintaining strong relationships with staff members. Overall, it offers valuable insights on seizing market opportunities and achieving long-term success.

Opportunity Innovation
And Entrepreneurship

Executive Summary
Opportunity, innovation and entrepreneurship are the three main elements which are
somehow linked with each other and creates a positive outcome. Entrepreneurs are the one most
essential factor who assist the country in order to enhance their social as well as economic status.
By introducing new business venture at the competitive marketplace, it has been said that
entrepreneurs develop job opportunities to the people living within the marketplace. Along with
this, it has also been identified that the most essential aspect of new business venture is that they
create innovative and unique products and services after examining the whole market place in a
proper way.

Table of Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................5
MAIN BODY...................................................................................................................................5
Analysis of Interview.......................................................................................................................5
Relation of Interview with the Theory.............................................................................................7
CONCLUSION................................................................................................................................8
References........................................................................................................................................9
Books and Journals.................................................................................................................9
Appendix........................................................................................................................................10
Profile of the chosen entrepreneur........................................................................................10

INTRODUCTION
An entrepreneur define as a person who undertake risks and have courage to build a new
business entity so that they can gain positive outcomes which assist in developing economic
system of the country. Entrepreneurs are those who take each measure which develop a new
business venture which is introduced to resolve social as well as economic issues which has been
faced by the society. It has also been said that the process of working as well as thought are
highly centralised on the innovation which assist them in order to undergo entrepreneurship &
grab the market opportunity so that they can establish a business venture. In the current project,
entrepreneur of Prism London Limited, Who is Ms Anna Laub has been chosen. The business
entity was introduced in year 2009 who mainly deals in beach wear, swim wear as well as resort
wear. By passing the time, it has been identified that the entrepreneur decides to attain the entry
into various new markets. The report includes examination of information which has been gained
by the entrepreneur as well as setting relation of the findings to the relevant theory.
MAIN BODY
Analysis of Interview
Entrepreneurship is one of the most difficult task which has been analysed after
examining the view point of the entrepreneur Ms Anna Laub, which is the founder of Prism
London Limited. It requires, enough courage, risk taking ability with the help of which they can
develop more profitability at the marketplace within limited time period. Apart from this, it has
also been said that the main objective of an entrepreneur is to introduce new and unique offerings
which will assist in order to fulfil the requirements of customers at the marketplace and satisfy
their needs in an effective manner. In addition to this, an entrepreneur seeks to perform their
business venture in an appropriate manner so that the overall economy of the country will be able
to boost up and create ample number of job opportunities to the people within the country. It has
also been said that the entrepreneur need to introduce new and innovative offering at the
marketplace by doing market research in an effective manner so that they can understand the
current trends and requirements of customers at the marketplace. By doing timely exploitation of
available market opportunities help the business entrepreneur in order to grab the attention of
ample number of people towards them by satisfying their requirements and demands in an
effective and appropriate way.

Apart from this, it has also been said that Anna share her experience and says that
entrepreneurship define as one of the most difficult process which needs that a person must
engage themselves in the procedure of identifying the requirements and demands of consumers.
Furthermore, adoption of best and most suitable strategy is also required so that the entrepreneur
can take competitive move at the marketplace which is most suitable for them. This as a result
help in creating long term trust and loyalty among the customers which aid them to remain at the
marketplace for a longer duration of time period. In context of the entrepreneurial venture, it is
mentioned that the business venture was introduced with the creation of all type of beach wear,
swim wear as well as resort wear. After sometimes, by doing market research it has been decided
by the entrepreneur Anna that they must expand their product portfolio by introducing eye wear
along with foot wear. Apart from this, it has been examined that the entrepreneur of Prism
London Limited have a keen interest in style editing which help them to bring all new heights to
the business entity. The interest and passion of Ms Anna Laub help in introducing sunglasses in
their product portfolio which help in satisfying the needs and demands of market.
The interview which was conducted with the entrepreneur Anna Laub it is said that at the
early age in her life she was drawn towards sketching as well as drawing different types of
patterns. Thus, these sort of experience somewhere help in boosting the morale of the
entrepreneur while setting up the business venture. In addition to this, it has also been identified
that the entrepreneur try to innovate new things on a regular basis so they can grab market
opportunity and maintain competitive advantages at the marketplace in an appropriate way.
Apart from this, Anna pointed that she always wanted the atmosphere of workplace to be
positive and light so that each and every person feel motivated and encouraged while working at
the organization. As a result, employees at the workplace perform their task in more accurate and
effective way so that the goals and objectives of the business venture can be achieved within
given time period. The entrepreneur of Prism London Limited highlighted that she always
motivate those people who pertain to the business venture who shows dedication as well as
loyalty in order to gain success at the competitive marketplace. All these staff members are
appreciated, rewarded as well as certified by the higher authorities of the venture in a timely.
This will help them to maintain their performance and perform all the business operations in an
appropriate way and help in developing favourable outcomes in future course of time.
Therefore, it has been concluded that as per the point of view of a successful entrepreneur it is

very essential for the management team that they must provide positive working environment as
well as motivate them on a regular basis so they can easily perform their work in an effective and
fruitful manner.
In addition to this, it has been identified that the goods and services of Prism London
Limited is being manufactured via leveraging craftsmanship. It has also been examined that the
products of this business venture are highly innovative and unique so they can attract large
number of people towards them. Apart from this it has also been concluded that the entrepreneur
said that all the goods of entrepreneurial ventures are manufactured by using metal glasses which
are purchased by them from Japan, all the fabric are from Europe and so on. Therefore, all the
products are manufactured by them by using material from different locations across the world
and are of high quality products which attract large number of people towards them.
After conducting the whole analysis, it is said that for each and every business venture it
becomes essential to conduct market research on a regular basis so they can innovate and create
products as per the needs of customers. By realizing market trends and demands it becomes easy
for the company to maintain their sustainability at a longer period of time at the marketplace and
gain competitive advantage also. In addition to this, one of the most essential recommendation
given by Anna Laub to the new entrepreneurs that they must gather enough knowledge and
understanding about the market trends and conduct regular market research. This will help them
to fulfil the requirements of customers and grab their attention towards them by offering high
quality product and services. At the end, it has also inferred that the creation of healthy as well as
strong relationships with staff members are quite essential so they feel encouraged and attain pre
define goals and objectives in an effective manner.
Relation of Interview with the Theory
Theory of opportunity
This refers to the theory which is based on the statement or assumption that regular
market analysis is required to be conducted so that they can examine the market opportunities
and grab them in order to covert it into profitable venture. In the present context of Prism
London Limited, it is said that the entrepreneur examine the available market opportunity linked
with the improvement and innovation of swim wear as well as beach wear for every body shapes.
It has also been identified that the exploitation of the market opportunity is mainly conducted by

Anna as per the Theory of Opportunity. This theory includes three phases which are going to be
discussed as follows:-
Opportunity development: This refers to the first stage of the theory which shows the
opportunities which can be examined as the concepts at the starting phase which might develop
further by each passing time duration. It has also been said that opportunity development can be
consider as a continuous process which gives appropriate shape to whole business ideas. In
context of Prism London Limited, the present stage has been identified when the business
entrepreneur identify that the customer demands resort wear clothing more which is one of the
biggest business opportunity available at the marketplace.
Opportunity recognition: This phase is categorized into three main processes which are
perception, discovery as well as creation. In relation to Prism London Limited, the first process
which is Perception is commonly linked with the background of an entrepreneur. In the current
scenario, the entrepreneur of chosen organisation which is Prism London Limited was an ex style
editor, who got influence to start her own career in the same sector. If talking about second
process which is Discovery it is associated with the analysis of present resources which help in
satisfying the requirements of customers as well as acquires the market opportunity presents at
the competitive marketplace. At the end, third and the last process is associated with the same
which is creation. It has been said that the inclusion contributes in developing innovative
working pattern and products as well as services so they can satisfy the requirements of
customers’ in an effective manner. Here, it has been said that the entrepreneur of present
organization which is Prism London Limited believes in order to follow all the process so that
they cab identify the available market opportunities. After this, they can create products as per
the needs and requirements of customers so they feel satisfied and motivated. As a result it will
assist in order to gain competitive advantage at the market in an appropriate way.
Opportunity evaluation: This refers to the last stage, where each and every analysis is
done on the basis of business concept so they can frame an appropriate conclusion whether the
plan will be feasible for them or not. This process can be done by conducting feasibility analysis
which help in analysing that the plan have potential to provide profitability or not. Apart from
this, business ventures can also adopt formative analysis so that they can identify the scope of
overall success for the proposed plan at the competitive marketplace.

CONCLUSION
With the assistance of above stated analyses conducted it has been identified that
opportunities are provided to the business entrepreneurs by chance so that they can build a
venture as per the market demands. Apart from this, it has also been said that entrepreneurs
required to conduct market research on daily basis so that they can fulfil their needs and demands
within the market place. As a result this will provide help to them and the entrepreneurial venture
in order to come up with some unique and innovation ideas on a regular period of time. This as a
result help the business venture in order to come up with unique offerings which have the
potential to fulfil all the requirements and expectations of consumers available at the
marketplace. When all the efforts of a business entity fulfil customer demand, which develop a
sense of loyalty and trust among them towards the business venture. This as a result tends to
enhance the volume of overall sales as well as profit margins of the venture in their long run.
References
Books and Journals
JOSHI, K. and PARMAR, C., Funding Start-up in India: Opportunity, Challenges and New
Solutions.
Grillitsch, M. and Sotarauta, M., 2020. Trinity of change agency, regional development paths
and opportunity spaces. Progress in human geography, 44(4), pp.704-723.
Corrales-Garay, D., Mora-Valentín, E.M. and Ortiz-de-Urbina-Criado, M., 2020.
Entrepreneurship Through Open Data: An Opportunity for Sustainable Development.
Sustainability, 12(12), p.5148.
Pololikashvili, Z., 2020. Tourism and the Sustainable Development Agenda: Seizing opportunity
in crisis. In International Trade Forum (No. 1, pp. 16-17). International Trade Centre.
Toms, S., Wilson, N. and Wright, M., 2020. Innovation, intermediation, and the nature of
entrepreneurship: A historical perspective. Strategic Entrepreneurship Journal, 14(1), pp.105-
121.

Cervelló-Royo, R., Moya-Clemente, I., Perelló-Marín, M.R. and Ribes-Giner, G., 2020.
Sustainable development, economic and financial factors, that influence the opportunity-driven
entrepreneurship. An fsQCA approach. Journal of Business Research, 115, pp.393-402.
Fu, K., Wennberg, K. and Falkenhall, B., 2020. Productive entrepreneurship and the
effectiveness of insolvency legislation: a cross-country study. Small Business Economics, 54(2),
pp.383-404.
Appendix
Profile of the chosen entrepreneur
In the present report, chosen organisation is Prism London Limited which is a new business
venture established in the year 2009. The business entity deals in different type of swim wear,
beach wear as well as of resort wear which suits to any type of body shape. PRISM is a new
business venture which was launched in year 2009, by the founder or the creative director Anna
Laub. Anna laub who is a successful entrepreneur is an ex style editor who is born out of the
need for optical glasses which are both functional as well as fashionable at the same time.

She is an entrepreneur who is risk taker and want to take some sort of initiative in order to
change the mind of people. Successful entrepreneurs are those who take risk in the competitive
marketplace and introduce unique and innovative offering which satisfy the needs and
requirements of people. Anna Laub have all these qualities which make her one of the most
successful entrepreneur. It has also been identified that her love towards sunnier climates along
with her obsession with the operations as well as attention for detail, bring her to create and
introduce her minimal aesthetic among the range of resort wear offerings from beachwear as well
as swimwear, to the attractive eyewear & espadrilles. All these were maintained in order to make
luxury products which are equally functional along with beautiful and attractive looks. Apart
from this, the experienced creative director who have a demonstrated history in working within
the fashion sector. Along with this, I Anna Laub is highly skilled and talented in designing
accessories as well as Resort wear. Also she is enough capable of fulfilling the job role of a
creative director, a well skilled marketer as well as fashion trend analyser. It has also been said
that the entrepreneur of Prism London Limited highlighted that she always motivate those people
who pertain to the business venture who shows dedication as well as loyalty in order to gain
success at the competitive marketplace.

It has also been identified that all the products offered by the business entity Prism London
Limited are the combination of skilled workmanship along with new, innovative and modern
designs. In addition to this, they also manufacture handmade and unique product’s which make
her one of the most successful and risk taker business women. PRISM acetate eyewear collection
is unique and handmade within Treviso region of Italy. Along with this, metal of each eyewear is
made in Japan which make it quite attractive, unique and expensive.
Just like this, PRISM swimwear along with beachwear are hand made within Italy where the
fabric is quite luxurious made in European which are exclusively made for the business venture
PRISM. In addition to this, the main aim of the organization and its entrepreneur is to produce a
product which is best suitable for each and every type of body shape. Therefore, the collection of
PRISM is made up of mix and match sizes, shapes and style.

Anna Laub is an entrepreneur who at the early age in her life attracted towards sketching as
well as drawing different types of patterns. Thus, these sort of experience somewhere help in
boosting the morale of the entrepreneur while setting up the business venture. This will assist her
to modify and innovate new designs in products which grab attention of people towards them. In
addition to this other accessories like luxury espadrilles as well as sandals everything are
handmade in Spain which are made up of leathers, snake skins along with fabrics which are
exclusively made for the business venture PRISM.
It has also been examined that in the year 2014 in Spring PRISM started their flagship store
within the marketplace of Chiltern Street in burgeoning, London. In the year 2014, in month of

December PRISM won an award The Emerging Accessory Designer at British Fashion as well as
in the year 2015 they are one of the finalists in BFC/Vogue Fashion Fund. All these are the
opportunities of Prism London Limited and the owner or creative director Anna Laub.