Business Plan for Paradise Restaurant: Innovation and Entrepreneurial Strategies

Business Plan

Executive Summary
Business Plan refers to a particular document which can be used so that the
Businesses are able to make sure that they can manage their different types of activities quite
effectively and efficiently. It is necessary for the firms to make sure that they can prepare a
Business Plan which can help them in ensuring that the attainment of the goals and obejctives
in the future. Therefore, it can be stated that the use of this plan should be made for the
purpose of managing out the needs and requirements in the future so that the firms can make
progress in a proper manner.
Table of Contents
INTRODUCTION.....................................................................................................................................3
LO1: Evaluate the concept of entrepreneurship, inter relationship between entrepreneurship and
innovation in business management and also about nature of macro-environmental context for
entrepreneurial activity....................................................................................................................4
LO2: Critically analyse the nature of innovation and appreciate its role in entrepreneurial activity 5
LO3:Evaluate and critically analyse on those factors which influences entrepreneurial activity in
different context and also evaluate about the role of creative approach in terms of
entrepreneurial strategies................................................................................................................6
LO4: Evaluate about the responses of entrepreneurial organisation as opposed to more
predictable strategic approaches.....................................................................................................7
LO5: Evaluation of different strategies.............................................................................................8
LO6: Crtical evaluation and reflection on the thinking and analytical techniques............................9
CONCLUSION.........................................................................................................................................9

REFERENCES.........................................................................................................................................10

INTRODUCTION
A business plan can be defined in a manner that it is a kind of written document
which explains about the core business activities, objectives and in which it plans to achieve
their goals (Barrientos and et.al., 2020). A good business plan includes certain parameters
which are named as an executive summary, marketing strategy, services and products,
financial planning and budget. Majorly start up companies has used business plan to establish
themselves on an international level. In this report, the analysis has been done on business
idea and on their market entry strategies and also about the rational launching of the business.
The analysis has also been done on the industry and market and also need to do STP analysis.
Research has been done on competitor analysis and also about the competitive advantage.
The research has also been done on market strategy, growth strategy and also on financial
plan, risk and mitigation strategies.
LO1: Evaluate the concept of entrepreneurship, inter relationship between entrepreneurship
and innovation in business management and also about nature of macro-environmental
context for entrepreneurial activity
Entrepreneurship basically refers to concept of developing and managing a business
venture in order to gain profit by taking several risks into the corporate world. Business plan
is in context of starting a new restaurant named as Paradise. Their key statement or tagline
has been framed as “ Enjoy an exciting and surprising food”. Products and services offered
by this restaurant has been planned according to considering all kinds of age group. Food has
been categorised into three courses as Starters, Main Course and Desert and it offers food in
vegetarian as well as in non-vegetarian context. Starters include Bubble and squeak,
Traditional colcannon, Scottish tattie scones, Quick vegetable frittata, classic prawn cocktail.
Main course also included some of delicious dishes which are Fish and chips, Bangers and
mash, Sunday roast, Toad in the hole and Steak and kidney pie.
There are some exciting deserts dishes which includes Apple crumble, Victoria sponge,
Carrot cake, Cheesecake and bread and butter pudding. Services which has been provided by
restaurant are in prompt nature ad also delivers food at customers doorstep. Target market is
majorly UK market who are very famous for different kinds of its own dishes and varieties
due to which customers attract on a large scale (Cadena and et.al., 2020). Special attributes
about this restaurant that they are master in providing hot food to their customers whether it is