Report: Entrepreneurship, Enterprise and Innovation Analysis

This report delves into the multifaceted aspects of entrepreneurship, enterprise, and innovation, examining the process of transforming business ideas into practical realities. The report covers a broad range of areas including business and management, legislations, strategies, policies, and risk assessments, using a case study of introducing a serum for under-eye wrinkles. It explores the organizational structure, relevant legislations such as EU cosmetic regulations, and the formulation of effective policies and strategies. Furthermore, it analyzes the use of financial, marketing, sales, and HR as leadership and management tools, providing insights into reviewing and managing performance. The report also presents critical perspectives on national and international policies and initiatives, along with an assessment of associated risks. It includes a detailed analysis of financial planning, marketing strategies, human resource management and the application of management tools for individual, team, and organizational performance. The report concludes with an independent and enhanced critical perspective on current national and international policy, emphasizing the importance of effective execution and management within an organizational context.

ENTREPRENEURSHIP,
ENTERPRISE AND
INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Broad range of areas of business and management, legislations, policies and risk and the
details..........................................................................................................................................1
2. Use of information as leadership and management tool for reviewing and managing
performance.................................................................................................................................3
3. Independent and enhanced critical perspective on current national and international policy.6
4. Presentation of information in term of taking account of audience for a range of contexts...7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship, enterprise and innovation has become an important aspect in terms of
forming the idea of new business in to practical world (Drucker, 2014). There is a separate
concept is found subject to evaluate the sustainability and feasibility of business in various
forms. This report is prepared to analyse the understanding the knowledge and understanding of
the areas of management, legislations, strategies, policies and the stakeholders. There is a proper
use of financial, marking, sales and HR are as a leadership and management tool are considered
for reviewing and managing the team and organisational performance. Critical perspectives in
terms of managing the departments, national and international policy and initiatives are taken for
better range and context. There is a business idea of introducing a serum form under eye
wrinkles that will bring more hyaluronic acid and vitamin C than any other market.
MAIN BODY
1. Broad range of areas of business and management, legislations, policies and risk and the
details
Business management and control helps organisation to incorporate the functions and
operations of business in a aligned structure. There is a business idea is taken to consideration to
evaluate the entrepreneurial skills and leadership skills for better execution and effective
collaboration of tasks and projects. As per above given business idea, entrepreneurs are required
to form a business structure by considering all the essential needs for assessing this in near
future. There is a particular use of legislations, strategies, policies and the risk assessment are
defined as follows regarding the above business idea.
Organisational structure
The business idea is related to cosmetic product and the organisational structure for this
products must be adequate to the structure of cosmetic manufacturing organisation. The structure
would be similar to a cosmetic industry such as chairman or CEO, senior level management,
president consumer products, service departments and manufacturing departments. Departments
of luxury products are required to retain separately. It is essential for incorporating the
departmental structure for better management and control with in and outside the organisation.
Legislations
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There are type of legislations levied to cosmetic organisation in UK. European Union
cosmetic regulation (EC) NO. 1223/200 is the regulation standard required to address the
applicability of cosmetic products and elements. This regulation was formed in 11 July 2013 and
the main purpose of this legislation is to maintain the safety rights and regulations for
organisation (Lambert and Davidson, 2013). This act also associated with creating the main
aspects for better understating of completing the liabilities and the changes for better
development and infrastructural changes. Apart form it the regulation related to Cosmetic
product safety regulation 2008 also required to assess to maintain ethical existence of
organisation. There are also some regulations are required to follow subject to presenting the
information upon products while labelling. This information remains related to ingredients and
restrictions, notifications, manufactured date and expire date.
Policies
There is a particular board is required to form to analyse the requirement of policies to amend
and analyse the further requirement of business. There is a particular use of management and
authority to develop strategies and plans for execution of products and services in near future
remain essential. It is observed that organisation should analyse the further requirement and
analysis for better change and development. The initiatives are mainly associated with particular
business in managing the vocabulary formation and test or deriving the changes in vital business
information. The board will analyse the legal formation and policies for better control and
process of business process. Policies such as payment scale, controlling of shortage cost,
analysing licence requirements, deliverable for better control and operation of business. The
management process also helps in incorporating the changes and requirements for taking licence
and permission for controlling the sections according to deliverables.
Strategies
Strategy indicates towards the framework of upcoming tasks and projects. A perfect
execution strategy not only helps in attaining the desired objectives of organisation but also helps
to build a sustainable structure of business in market (Vanevenhoven and Liguori, 2013). The
manageable committee must required to address the requirement and changes for better control
and management. The plans are mainly associated with creating the new dimensions of operating
functions for new business. In various forms it is evaluated that effective strategies and plans
consolidate the changes that remain associated with bifurcating the requirements and
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developments for business in more specific manner. The executive team is the main responsive
party that helps in incorporating the goods, employees and capital for future business projects.
There is a similarities found in strategies because the product analysis and tactics remain same in
both the procedures.
Risks
This is an possible situation that indicates towards threats and challenges to be expected
in near future or occurs during a particular time span (Lowe and Marriott, 2012). A simple rule
and principle the organisation bear more risk gain more profit. As the organisation is seeking for
profit opportunity for this new product that is also contains various type of risk as risk of existing
products and services, risk of having less consumer interest and appearance. Risk of having nil
profit or getting challenges with diverse marking situations and conditions.
2. Use of information as leadership and management tool for reviewing and managing
performance
Financial
when launching new product in market that time need to finance facility so for this
chosen virgin loans. Before giving loans they are analysis of budget, cash flow that are based on
estimation. If company satisfy their financial statement so they approve for loan. When analysis
of forecasting cash flow of the company so it is shows that from may 2018 to July 18 but in
August 2018 shows positive results that will influence to the virgin loan. In the end of November
2018 remaining cash balance is 3635 after deduction all expenses. In estimated cash flow shows
cash sales in 2650 May 2018, 0 in June 2018, 450 in June 2018, 2850 in July 2018, 7500 in
September 2018, 7500 in October 2018 and 7500 in November 2018.
There is prepare estimated annual expenditure there is shows total personal expenditure is
16110 and estimated personal income (after tax) in business is 5000. After deducting other
income from total personal expenditure remaining balance 11,110 it is known as total survival
income required from the business (after tax). After analysis when virgin loans approved loan
after that finance department working in effective way to launch serum of eye wrinkles. For
marketing, selling & distribution need to finance facility so after approval need to use money in
effective way and getting profit higher than to cost.
Human resource
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On the time of launching new product human resource play crucial role because it helps
to every department for communicate with each other (Landes and et. al., 2012). Human resource
department recruit those people who trained in sales profile and select them according to ability.
This department provide capable manager to every department who handle them in effective
way. These managers are provide performance report to each employees. This department
observe performance of every employee and according to that set their appraisal, it will helping
as motivation.
Sales
Sales department have to play crucial role to increase sales of serum of eye wrinkles. For
selling need to people who promote selling strategy and sales manager coordinate with other
department. They are prepare strategy for selling and distribution and provide training those
people who select for sales profile. For selling new product need to effective strategy that cover
whole market and giving competition to existing companies.
Marketing
Marketing department apply new strategies for selling of Serum of eye wrinkles, that are
as follows -
Focus on target customers – For this product mainly targeted to female customers because they
are concern about skin. So prepare strategy attract to female customers for the product and
provide quality to how to serum work of reducing eye wrinkles.
Develop plan for launching new product
For launch serum of eye wrinkles need to develop plan for promotion because it is related
to health and safety. No body use without safety so there is need to provide security if they are
using according to instruction so no reaction face by them. On the product shows that is is tested
in laboratory and working in effective way (Keohane, 2013).
Plan for post launch strategy
After launch product promotion strategy not completed there is need to maintain
customer and taking feedback from customers. If customers have any problem regarding to
product so work on it and try to improve product quality. For selling product in huge quantity so
there is need to maintain quality and try to focus on customer.
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Management tool – It is important to everyone because they are play essential role in daily life
without management not working properly so they are works according to individuals, team and
organisations, that are helping to monitoring and managing are as follows -
Individual Team Organisational
Management tools helping to
manage social media channels
of individual. When analysis
performance of individual that
time firstly focus on their
social media performance,
communication skills and
ideas for business.
When management tools using
by teams that time improve
their performance and with the
help of these tools manage
team in effective way. These
tools are helping to improve
performance of every one in
team.
An organisations level divided
many departments and there is
need to handle every one so
that time management tool
helping to analysis of their
performance. In every
department have particular
manager that will observe
every employee and prepare
performance report. On the
basis of this report company
provide training. When
launching new product like
serum for eye wrinkles that
time customers observe
performance of organisation.
So for organisation using
If individual person handle
their work so play leadership
role for their business and try
to improve performance.
In every team need a leader
who appreciate for their work
and motivate them.
Leadership development is
effective tool that is applied by
every organisation to motivate
employees.
Individual prepare strategic
plan for achieving goals and
there is individual acquire set
goals and objective in
effective way so it work to
In team prepare effective plan
according to their products.
They are set objective and goal
after that recognise to every
one for about that. When they
In organisation every people
follow strategic plan that are
set by managers. There are
every employee work for
achieve organisational goal. If
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measure performance. If
individual getting their goals
and objective so in the market
build good reputation and
provide benefit to business.
are understand strategic plan
after that work for acquire
objectives. In the market team
shows performance and getting
good position. It also compete
to other teams.
organisation achieve their
goals and objective so it will
shows good performance of
the organisation other wise
not.
3. Independent and enhanced critical perspective on current national and international policy
Execution and management both remain conductive with in an organisational context. There is a
particular frequency is counted essential in both the perspective. It is a multinational process that
helps in connecting the essential procedures for better enforcement and implementation of
process in various form. The process of execution also helps in determining the changes with
critical perspective (Audretsch and Link, 2012). The objectivity is one of the essential concern
that remain essential for consolidating the implementation process with in an organisation.
Execution process also helps in determining the internal and external use of fractional
information and changes subject to introducing new products.
Various type of explanations and critical reviews are organised for better execution and
implementation process for conducting issues and changes with in and outside the organisation.
The forecasting and analytical procedure also helps in conducting the changes and requirements
with in desirable time duration. There is a communication made in terms of empowerment of
business structure and organisation in European union countries and states. It provides a system
to maintain a healthy and safe treatment of business structure in European countries. It is
considered that influencing factors are the main elements that create challenging situations for
organisation and business for changing the levels of business in various forms. Health and safety
for effective control and execution procedure also incorporate the challenges and variations
among the business organisation and methodologies for creating changes and requirements for
developing the structure. Method also remain associated with review and monitoring the policy
and legislations in different languages. The general health policy is associated with creating the
plans and objectives of business in England or Greece.
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At international level the process mainly associated with determining the changes and
formation with accurate legislations and business requirements. The formation and procedure for
better change and development also consider to compare the rights and evaluation process in
contingent way (Defourny and Nyssens, 2013). A professional code of conduct, procedure to
incorporating roles and responsibilities. Required changes and foundations for completing the
challenges in various forms also required to considering to introduce new product in market. A
particular formation and sections were counted essential for recalculating and determining the
facts in multiple forms. Overall the performance helps in mining the changes and formation with
taking initiatives and issues with pertain to the business to interactant awareness. Lots of penalty
and business policies have been affected due to misfortune and conducting the research aspects
with in and outside the business (Maclean, Harvey and Gordon, 2013). In various business scales
the objective oriented organisations do not compare the sections with each other.
Levers for change in international policies and development structure mainly associated
with creating the knowledge and understating of diverse policies and changes. There is a better
conduction and evaluating the implementation process (Mitra, 2013). The consideration for
better management and accounting helps in conducting the safeguards with determining the
efficient process. The contingent situations also helps in considering the challenges and
formation of cultivating the formation in entrepreneurship. There is a mechanism and incentive
approaches to change the dimensions for safety rules and conducting the plans also helps in
treating the changes and formation of business.
These explanations mainly affect the process of determine the challenges with creative
plans and effective conduction. It is consolidated that in cosmetic manufacturing organisation the
formation process remain aligned with creative thinking and appropriate formation procedures.
There is a proper conductive analysis also considered while creating the plans while changing the
scenarios. The international policies not only affect the formation process of organisation to
introduce new products and services but also affect the business formation in various forms. In
international policies the changes and reflectional affects the business system and management
of organisation to address plans and strategies.
4. Presentation of information in term of taking account of audience for a range of contexts
As per the above evaluation it is evaluating that for better evaluation and control the
combination of entrepreneurship skills and management are required to consolidate the business
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functions and operations and execution process (Carayannis and et. al., 2014). The variances are
also remain effective in terms of building the strong brand image with in and outside the
organisation. There is a fiscal plan was introduced to directors and owners to incorporate the
changes and business formation process with accurate changes and requirements. A proper
forecasting and analysis process was also indicated to confirm the viability of changes and
variations for better control and vision. Form the above business plan initiation process I go
through with various challenges and situations where my entrepreneurship skills emerged my
sections in various forms. The viability of process and incorporating changing procedures also
committee the changing requirements while creating new plans and formation to lead
organisation. Professional plans and procedures not only assist the formation process but also
deploy the procedures for completing the changes and variability. In various parts the viability
also affect the process of completing the challenges and formation of introducing new business
with creative changes.
It is observed that with effective learning and guidance the formation of introducing new
products and services be more effective and viable. The management is required to control in
majorly three terms such as workload, planning and professional development. This procedure
also helps in combining the changes and formation process with proper collaboration of staff
members and management process (Weiss, 2014). This also helps in creating contingent part and
affection form staff members with in an organisation. In organisational context the formation
process also contains the process with creative challenges and vision for better changes and
development. In understand the dynamics of better execution and formation process with
creative plans and determining the procedure for collaborative changes and development. More
over these changes helps in combining the process with creative planning.
CONCLUSION
The above explanation summarises the construct of entrepreneurship, enterprise and
innovation. It is monitored that this concept is imitative in itself that helps in under sting the
business models and changes with creative plans and objectivities. With effective analysis of
business process with creative changes and evaluation process. There is a use of leadership and
management tools for supervision and managing individual policy and initiatives are also
excessed with intercultural awareness. The process also consolidate the formation of particular
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argument and the range of contexts are evaluated with creative changes. It is analysed that new
product ideas can be effectively addressed with creative planning and process.
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