Entrepreneurship Module: Bulgarian T-shirts and Bags Business Analysis

This report delves into a business idea centered around Bulgarian T-shirts and Bags, evaluating its potential within the market. It begins with an introduction to entrepreneurship and its role in establishing businesses, followed by an analysis of the chosen idea, considering market research findings and justifying the decision to pursue it. The report examines the high demand for T-shirts and bags in Bulgaria, citing statistical data and growth projections. Furthermore, it reflects on personal development within the module, highlighting the acquisition of entrepreneurial skills such as decision-making, critical thinking, leadership, and communication, and how these skills will contribute to solving problems and addressing needs. It also explores various management and leadership theories applied to the business idea. The report concludes by emphasizing the importance of strategic planning, market research, and the development of entrepreneurial skills for sustainable business success. The report uses references from books and journals, making it a comprehensive analysis of an entrepreneurial venture.

ENTREPENURSHIP

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY ..................................................................................................................................4
An essay that evaluates an idea you have that then address the needs and problems of
ourselves, others, and the broader community and world. What led to choose this idea,take
into consideration the your initial market research findings and make a case why you have
decided to progress this solution.................................................................................................4
Reflect on your personal development in your participation in this module by demonstrating
the how the entrepreneurial skills and knowledge you have gained will ensure that your idea
will create solutions to people’s problems and address people’s needs......................................6
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship is considered as major economic activity which establishes business
organisations that are for the purpose of earning. It is one of the crucial roles and responsibilities
of a an entrepreneur to take advanced support of business strategies to select the best business
idea. It is one of the major roles of an entrepreneur to develop systematic approach in managing
key functions by support of entrepreneurship related aspects and dimensions for success. This
project includes example of Bulgarian T-shirts and Bags is taken into consideration. The T-shirts
and Bags are in high demand due to their quality and products. In this project there is a brief
essay written on analysing needs and problems of our self,, broader community and world. In
this project there is also justification provided that why the idea is chosen. This project will also
include personal development in participation in the module along with description of
entrepreneurial skills.

MAIN BODY
An essay that evaluates an idea you have that then address the needs and problems of ourselves,
others, and the broader community and world. What led to choose this idea,take into
consideration the your initial market research findings and make a case why you have
decided to progress this solution
The selected idea is based over of doing business is “Bulgarian T-shirts and Bags” this
is an important perspective regarding development of new business opportunity within market.
This idea has proven to be more effective in nature since it is current demand existing within
market. The statistic data of Bulgaria shows that T-shirts are preferred more by individuals living
in the country. It has been observed that revenue generated from T-shirts is US$78.25m in 2022.
The market is expected to grow annually by 5.09%. Further, it has been observed that most
revenue has been generated by Bulgaria that is US$9,842.00m in 2022. This encroached demand
for T-shirts within Bulgaria. The segment of T-shirts and bags expected volume is expected to be
5.20m pcs. By 2026. The expected growth has shown volume growth of 5.8% in the year 2023.
the average volume per person has reached 0.71 pieces in 2022. It has made me as an
entrepreneur to focus upon growth of T-shirt production within the market of Bulgaria. In
relation to bags it has been observed that in Bulgaria the Handbag segment amounts attain
revenue of amounting to be US$51.79m in 2022 which makes growth to be anally reach by
9.00% . In comparison to other countries Bulgaria is still behind but can is about to generate
revenue of US$11,150.00m by the year 2026. In relation to this total population revenue
US$7.57 by 2022. This has made market of T-shirts and bags grow on massive scale which has
lead my aspirations as entrepreneur increased with faster pace. Thus my entrepreneurship skills
development is focus upon providing customers satisfaction that makes my idea reach to
customers in effective way. Since it is growing market of modern Bulgaria its has been realized
that it helps in making me use full entrepreneur skills posse by an entrepreneur within the
segment. Being an entrepreneur I am required to make my idea work which helps in making
achievement of goals and objectives on large scale which has lead towards providing direction to
entrepreneur nature making path of success opened in effective manner. My entrepreneurship
journey is been advanced with the helps of idea and has helped me in improving manufacturing,
selling and production cycle present within an organization which make more success to be

achieved. Also, to make this idea attain proper shape business operations must be focused upon.
The idea has makes an entrepreneur work over motivation criteria by applying Maslow
hierarchy theory which leads towards developing motivational perspective more strong for
employee's by identifying their needs. This make employee's work with more perfection within
their work. Being an entrepreneur it becomes my responsibility to seek that both T-shirt and bag
has been are able to generate large market. I have developed the idea in order to make new
business opportunity created that brings investment on large scale. Also, I have used various
kinds of management and leadership theories which makes me attain more stability towards idea
presented by me. I have applied scientific control theory manner the ones theories that is
primarily based totally upon engineering technological know-how which used numerous sorts of
clinical techniques for enhancing effectiveness inside leadership. The theory is primarily based
totally upon making enhancements achieved in powerful way over people operating inside an
business enterprise. Further, theory covers approximately growing manufacturing via way of
means of selecting era that allows in improving equipment associated with each day primarily
based totally task. It has been encompassed that paintings achieved over manufacturing ground
isn't like different views inside it nature. Bureaucratic theory of control this is evolved via way of
means of the Max Weber that contained the two necessities factors that consists of the
structuring an corporation in the hierarchy with actually described dreams and targets to
manipulate commercial enterprise activities. The theory is primarily based totally upon
organizational performance that is vital to manipulate business enterprise performance that is
vital for making clean line of authority evolved over right rules, methods and policies for
controlling every commercial enterprise operation In context of my entrepreneurship to remove
the repetitive obligations they use standardization in jogging techniques that permits to remain
competitive in marketplace. In context of my entrepreneurship with the useful resource of the use
of using respective precept of manage they'll be able to use the hierarchy of command to speak in
the business enterprise and share roles properly. These perspectives has made business
developed on large scale which has lead upon improving idea of business on large scale. It has
been used by me to develop advance management ideas which makes business operations
improved in relation to capturing market of T-shirts and Bags in Bulgaria.

Reflect on your personal development in your participation in this module by demonstrating the
how the entrepreneurial skills and knowledge you have gained will ensure that your idea
will create solutions to people’s problems and address people’s needs
I consider that personal development is most necessary part of personality development
in order to increase chances of business success. I also know that personal development is one of
the major approaches which helps an individual to develop systematic and precise approach in
managing key activities and functions. By participating in this module, I understood key aspects
which are essential for increasing chances of business success. Skills which are grabbed and
learned by me during this module will be helping me in establishment of a dynamic career as an
entrepreneur. The knowledge and development which I have gained during this module will help
me increasing chances of long term success in my career. At first, I learned about decision
making skills which will help me in taking crucial decisions related to day to day problems. The
critical thinking skills which are learned by me during this module will also support me to
develop focused approach in managing key operations related to taking crucial actions at the
time of need. Leadership skills, according to me are most important for me to be learned for
increasing the employee participation and engagement. I have increased my thinking abilities
and powers to regulate key business operations according to wants and needs of the business
organisation I am operating. In order to compete with the major competitors, I will implement
my own strengths and abilities to perform all the business operations with more advanced
strategic approaches.
I have also learned communication skills during this module which will increase my
formal and informal communication based approach. I will implement my communication skills
in a practical manner to achieve set targets and objectives in a set period of time. I will
implement my ideas related to personal development in order to gain enhancement in working
and development. The next skill I learned is related to information and technology which will
support me to perform crucial operations with the use of advanced computers and software. I will
take into consideration the application of IT based tools and techniques in order to systematically
lead the competition in a specified time period. In order to comply with the module, I have also
learned project management approach, which will help me to complete assignments and modules
on time. Leadership skills are also learned in an effective manner by me in order to focus on
developing goals and objectives related to my career based life.

The business idea of performing business of Bulgarian T-shirts and Bags will surely meet
needs of the people. It will provide effective solutions related to apparel needs and wants of
different customers at the marketplace. Choosing a suitable and reliable business idea was one of
the major challenging task for me as in marketplace the competition is increasing day by day. I
will implement the key skills which I have learned during this module will help me to overcome
major challenges and issues which I will face during performing key business operations. I will
analyse the importance of implementing these goals and approaches in order to increase chances
of expanding my business. The knowledge related to entrepreneurship I have gained during this
module will also help me to analyse the T-shirts and Bags in Bulgaria. key factors which are
associated with my future business. Now I am confident enough to guide other entrepreneurs
who are struggling hard to establish their business at the marketplace. I will also take help of my
seniors, professors and parents to perform systematic and further operations related to
entrepreneurship. In order to increase chances of growth and stability in my business operations,
I will take into consideration the application of relevant theories and models related to business
development. In order to perform successful business operations, it is important for me to put
emphasis on strategies and their development. The minimisation of risk associated with key
operations of a business is also learned by me to perform more accurate operations by
eliminating risk. The different companies in the international and national marketplace which are
performing their operations have a crucial need of risk management.

CONCLUSION
From the above analysis it can be concluded that in order to carry out major
entrepreneurial functions, it is major role and responsibility of an owner to take assistance of
strategic planning. This analysis concludes that it is essential for an entrepreneur to develop
focused approach in maintaining key business operations with identifying actual market research.
This project concludes that in order to lead the competition, it is necessary for a business owner
to select best strategic choices. This project concludes that entrepreneurial skills are most crucial
for an entrepreneur in order to develop effective personality and carry out sustainable business
for competitive advantage.

REFERENCES
Books and Journals
Belz, F. M. and Binder, J. K., 2017. Sustainable entrepreneurship: A convergent process model.
Business Strategy and the Environment. 26(1). pp.1-17.
Brush, C. and et. al., 2019. A gendered look at entrepreneurship ecosystems. Small Business
Economics. 53(2). pp.393-408.
DeTienne, D. and Wennberg, K., 2016. Studying exit from entrepreneurship: New directions and
insights. International Small Business Journal. 34(2). pp.151-156.
Devece, C., Peris-Ortiz, M. and Rueda-Armengot, C., 2016. Entrepreneurship during economic
crisis: Success factors and paths to failure. Journal of Business Research. 69(11).
pp.5366-5370.
Doern, R., 2016. Entrepreneurship and crisis management: The experiences of small businesses
during the London 2011 riots. International Small Business Journal. 34(3). pp.276-302.
Fayolle, A., Verzat, C. and Wapshott, R., 2016. In quest of legitimacy: The theoretical and
methodological foundations of entrepreneurship education research. International Small
Business Journal. 34(7). pp.895-904.
He, C., Lu, J. and Qian, H., 2019. Entrepreneurship in China. Small Business Economics. 52(3).
pp.563-572.
Henry, C., Hill, F. and Leitch, C., 2017. Entrepreneurship education and training: the issue of
effectiveness: the issue of effectiveness. Routledge.
Julien, P. A., 2018. The state of the art in small business and entrepreneurship. Routledge.
Kuckertz, A. and Prochotta, A., 2018. What’s hot in entrepreneurship research 2018?.
Kuratko, D. F. and Morris, M. H., 2018. Examining the future trajectory of entrepreneurship.
Journal of Small Business Management. 56(1). pp.11-23.
Mamabolo, M. A., Kerrin, M. and Kele, T., 2017. Entrepreneurship management skills
requirements in an emerging economy: A South African outlook. The Southern African
Journal of Entrepreneurship and Small Business Management. 9(1). pp.1-10.
Palalić, R., Dana, L. P. and Ramadani, V. eds., 2018. Entrepreneurship in former Yugoslavia:
Diversity, institutional constraints and prospects. Springer.
Pato, M. L. and Teixeira, A. A., 2016. Twenty years of rural entrepreneurship: A bibliometric
survey. Sociologia Ruralis. 56(1). pp.3-28.

(Belz, and Binder, 2017)(Brush, and et. al., 2019)(DeTienne, and Wennberg, 2016)(Devece,
Peris-Ortiz, and Rueda-Armengot, 2016)(Doern, 2016)(Fayolle, Verzat, and Wapshott,
2016)(He, Lu, nd Qian, 2019.)(Henry, Hill, and Leitch, 2017)(Julien, 2018)(Kuckertz,
and Prochotta, 2018)(Kuratko, and Morris, 2018)(Mamabolo, Kerrin, and Kele, 2017)
(Palalić, Dana, and Ramadani, 2018)(Pato, and Teixeira, 2016)