Entrepreneurship Assignment: Reflective Discussion and Business Plan

This report presents a reflective discussion on entrepreneurship, focusing on the author's personal development and skills gained through entrepreneurial experiences. The discussion highlights the importance of problem-solving, decision-making, risk management, self-belief, consistency, and perseverance in a business environment. The second part of the report outlines a business plan for Sobike Pvt. Ltd., a new venture focused on producing and distributing solar bikes. The business plan includes a company summary, aims, objectives, business strategy, and marketing plan, emphasizing the innovative product's potential to revolutionize the automobile industry, improve customer travel experience, and reduce carbon footprint. The business plan incorporates market research, PESTLE and Porter's Five Forces analysis, and marketing strategies using social media and influencer marketing. The report concludes with a list of cited references.

REFLECTIVE DISCUSSION
AND BUSINESS PLAN

Table of Contents
MAIN BODY...................................................................................................................................3
Reflective Discussion...................................................................................................................3
Business Plan...............................................................................................................................3
REFERENCES................................................................................................................................1

MAIN BODY
Reflective Discussion
Entrepreneurship is an effective way of setting up a business with limited capital and less
resources. It is an appropriate form of conducting business practices and has been useful in order
to increase my problem solving and decision making ability. With the help of entrepreneurship I
have been able to face the risks and problems in a better manner. It has provided me to develop
my self-belief which is crucial in a work environment. An entrepreneur may have to manage
many functions of the business with their own efforts and it is suitable in order to increase my
overall attitude towards working (Apostolou, Reinders and Geurs, 2018). I have understood the
significance of consistency and perseverance with the help of entrepreneurship which is a
helpful trait in order to enhance my overall development process in the business environment.
Entrepreneurship is an appropriate form of business which is useful in order to ensure
sustainability and gain a better advantage in the business scenario (Doern, Williams and Vorley,
2019). There are specific traits of entrepreneurs which are unique and can be beneficial while
performing tough tasks. The pressure handing ability is one the most important skill I have been
able to develop with the help of entrepreneurship which is important in order to perform well in
the business environment and grow the popularity of my business. These special skills developed
by me are crucial in order to achieve the targets efficiently and gain advantage in business. It has
been helpful in order to convert opportunities in my favour and increase my overall success.
Business Plan
Company Summary:
Sobike Pvt. Ltd. is a new venture which is related with the production and distribution of
solar bikes in order to bring a revolution in the auto-mobile industry and gain competitive
advantage in the market by introducing an innovative product.
Aim:
The new venture is Sobike Pvt. Ltd. and its main purpose is to provide solar bikes to the
consumers in order to enhance their travelling experience and reduce the carbon footprint in the
atmosphere.
Objectives:
 To improve the travel experience of customers.

 To reduce the release of harmful gases in the environment.
 To make an effective use of solar energy in the auto-mobile industry.
 To reduce the consumption of fossil fuels in order to conserve them for future use.
Business Strategy:
The new business will introduce the solar bikes in order to bring a revolution in the auto-
mobile industry which will be helpful for the customers in order to manage their fuel expenses.
The organization will conduct appropriate market research with the PESTLE and Porter's Five
forces market analysis model and prepare effective strategies for the consumers in order to
provide reliable products to them.
Marketing:
Sobike Pvt. Ltd. Will promote their products with the help of popular social media
platforms in order to generate better awareness among the potential consumers (Wadhwani and
et.al., 2020). The organization will use effective marketing tools such as email and influencer
marketing for increasing the engagement of customers towards the brand.

REFERENCES
Books and journals
Apostolou, G., Reinders, A. and Geurs, K., 2018. An overview of existing experiences with
solar-powered e-bikes. Energies. 11(8). p.2129.
Doern, R., Williams, N. and Vorley, T., 2019. Special issue on entrepreneurship and crises:
business as usual? An introduction and review of the literature. Entrepreneurship &
Regional Development. 31(5-6), pp.400-412.
Wadhwani, R.D. and et.al., 2020. Context, time, and change: Historical approaches to
entrepreneurship research. Strategic Entrepreneurship Journal. 14(1). pp.3-19.