Managing Entrepreneurship Innovation & Creativity Report 2020

UGB 234 Managing
Entrepreneurship Innovation
& Creativity Report 2020

TABLE OF CONTENTS
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................3
Entrepreneurial Journey...............................................................................................................3
Task 3...............................................................................................................................................6
Concept Plan................................................................................................................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

TASK 1
Managing entrepreneur innovation and creativity refer to the process in which a manager and an
entrepreneur manage the process of innovation and creativity in the idea they want to work and
the idea which they want to sell and do business on. It is very important to manage the creativity
and innovation because its too important to have the best of the product and services with
different approach in market to reach the goals and objective in the market. Every entrepreneur
need to think differently and should be ready to put all the hard work in achievement to the
objectives they want. It is very important to utilise the idea and ways to make the innovation
creative for better product and services. It is very important to be different in market with the
idea and strategy in promoting the business. Pret works in the industry of service and food sector.
They offered the baguettes and sandwich in the beginning of their business when they started.
The company was founded in 1982 by Jeffrey Heyman in UK. After a decrease in market value
they started offering different things and product to their customer. They included a lot of dish in
the menu and expanded the menu with a lot of varieties. It includes the wraps, salad, soups,
juices, drinks, and desserts. The pre-entrepreneur skills which are required are: it is very
important to have a risk taking mindset when to become a successful entrepreneur. The mindset
needs to be risk taker, and it also need to be a smart person in the process of finance and its
important to understand the finance in the best way to help the process in best ways.
Utilization of the technology so that when it requires its easy to handle the technology and work
on the technology to improve the business in better ways and in profitability. Always need to
think like a boss and need to motivate to perform better with improved knowledge and skills in
it. optimizing of the tech knowledge in the business is important and think on every part of the
working.
TASK 2
Entrepreneurial Journey
Metaphors: The entrepreneurial journey is like running a marathon or climbing a
mountain
This statement is completely true that the entrepreneurial journey is fully like running a
marathon or climbing a mountain. A person can’t become a very successful entrepreneur in after
just few entrepreneurial practices, because there are huge efforts and high intelligence required in
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a person for being an effective entrepreneur in market place (Soetanto,2019). Currently many
people in across the world has desire to be a very successful entrepreneur, but only few has
enabled to achieve this desire, because before conducting entrepreneurial operations, each person
have to improve quality of entrepreneurship inside its character. This is really a necessary task to
achieve very positive outcomes from the career of entrepreneurship. For properly discussion and
describing this statement “entrepreneurial journey is fully like running a marathon or climbing a
mountain”, there are some relevant literatures has been mentioned below.
According to Stamand Van de Ven (2018) entrepreneurship is basically a quality or an
attribute that generally exists inside the entrepreneur of an enterprise. Basically, present business
opportunities of a market place motivate to an ordinary person to be a very successful and
effective entrepreneur in market place. Market places of all countries offers great opportunities to
different people of the market for taking steps towards being an entrepreneur. However, only few
people choses the career of entrepreneurship and rest people like to work in an organisation or
company as employees, because people know that becoming a successful entrepreneur is really
tough, challenging and difficult task to a person. Currently many popular businesses and
companies exists in market place, in which people enables to fulfil their needs of products and
services in market place with the support of businesses, bur many people still not know that
entrepreneurship is the main reason behind these many numbers of businesses in market place.
Currently only an entrepreneurial personality enables to formulate a business or enterprise or
company in market place, and this personality contributes in employment generation also in a
country. In some cases, entrepreneurial journey become more tough to climbing a mountain or
running marathon, because journey always depends on the entrepreneur’s decided goals and
targets.
As illustrated byQin, Wrightand Gao (2017) in this modern and dynamic world, currently
there are different technologies and strategies simply available in market place which can
support an entrepreneur for reducing its efforts and improving productivity of its entrepreneurial
journey. In this situation, many of entrepreneurs has uses these all technologies for making their
existing journey very effective For example; currently an entrepreneur can simply promote its
new enterprise or product or services by using digital marketing strategy, in which this modern
strategy can reduce the efforts of person in the journey, but still this journey is very tough to a
person who has chosen entrepreneurial career in its person life. Still many factors exist in market
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