Managing Entrepreneurship, Innovation & Creativity Report

Managing Entrepreneurship,
Innovation & Creativity
Report
Contents

INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
My story : In the beginning....................................................................................................1
Research Questions................................................................................................................2
Business development Plan....................................................................................................5
Supporting Document.............................................................................................................9
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................13

INTRODUCTION
There are different types of skills that are necessary for a person to improve their
performance. It is very important to successful manage entrepreneurship as it will help in overall
growth and development of business (Bieraugel, 2015). Innovation and creativity is one of the
major aspect as it will help in improving performance as well as capabilities. Innovation refers to
creating or developing something completely new and anything which is new in market area.
Creativity refers to a way of performing task or any idea that leads to something inventiveness.
This report includes meaning of entrepreneurial, innovation and creative. In this report a proper
study is conducted in order to evaluate skills and capabilities of an individual. It consist of social
entrepreneur as well as different motivations in setting up a social enterprise. Various advantages
as well as disadvantages of social enterprise. It identify social entrepreneurship and motivations
in setting up social enterprise. Apart from this a proper plan has been developed which consist of
objective, market research, target market or customer and many factor factors which have impact
over business and its operations.
MAIN BODY
TASK 1
My story : In the beginning
Define entrepreneurial, innovation and creative.
Entrepreneurial refers to a person who is taking all risk to start a new business as well as
responsible for taking better business decision. This person will develop and create a economic
venture. An entrepreneur is liable to gain profits and other benefits from their business.
Innovation can be define as a process of developing or creating something completely
new. It can be an idea, methods or product which will convert it into more useful thing which is
new been used before.
Creative can be consider as a skill of an individual which help them in developing
something completely new and innovative (Bridgstock. and Cunningham, 2016). This is ore
related to involving the use of imagination in order to solve critical situation or creating
something very useful.
Are you entrepreneurial, innovation and creative?
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I consider myself as an innovator as I have proven my skills and abilities in creating or
generating innovative ideas. I have provided innovative solution to many critically problems in
order to resolve it. This is the main reason I consider my self as an innovator as I have innovation
skills and able to provide better and creative ideas.
What environment are you coming from?
My qualification background is majorly related to the human resource and business
management. This have completed my diploma in Business and Administration from Waltham
forest college of London, UK. I have knowledge about customer service as well as work as as a
customer service assistant in Tesco company. Currently I an working as a Consultant freelancer
in a private sector.
What pre entrepreneurial skills and attributes are you bringing to the module?
I will bring range of pre entrepreneurial skills as well as attributes in this module. I have
risk taking skills which is helpful in increasing my overall performance (Burns, 2016). I am able
to effectively use new and innovative technology in order to conduct business operations. From
the Belbin's team role model I consider myself as a planter as I have highly innovative and
creative skills that is helpful in solving different problems and issues.
TASK 2
Research Questions
What is social entrepreneurship?
A social enterprise, also known as a social business is a type of business having specified
social goals and objectives that serve as its primary purpose. These businesses seek for
maximizing profits while maximising benefits for the society side by side by applying
commercial strategies. The concept was first formulated in the UK in late 1970s.
They primarily obtain their funding by selling goods and services to the customers in
addition to some funding also obtained through grants. Earning profits is not the main motivation
behind a social enterprise but revenue still plays an important role for the business to sustain
(Samara and Bakouros, 2015). These are usually confused with charity, but unlike charity a
social enterprise aspires to generate revenues that in turn fund their social causes.
Employees working at a social enterprise come from various backgrounds with priority
given to ones who come from sections of the community that are at risk and have previously
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