Delicio Patisserie: Entrepreneurial Idea, Opportunity & Development

This report provides a comprehensive analysis of Delicio Patisserie, a confectionery store in the UK, focusing on its entrepreneurial journey. The report begins with an introduction to the business idea and the unique value proposition of offering customized cakes and pastries, including innovative products like liquid nitrogen ice cream. It then delves into opportunity formation, highlighting the company's response to customer needs and preferences, and its adaptation to market trends. The analysis continues with a detailed examination of opportunity development, including financial strategies, investment analysis, and the roles of key personnel like the CEO and CMO. Marketing strategies, customer segmentation, and internal policies are also discussed, providing a holistic view of Delicio Patisserie's approach to building a successful business. The report concludes by emphasizing the importance of efficiency, quality, and the roles of leadership in fostering growth and competitiveness in the confectionery market.

Entrepreneurial
Development

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
Introduction on idea and brand proposed development..............................................................1
SECTION 2......................................................................................................................................2
Opportunity Formation................................................................................................................2
SECTION 3......................................................................................................................................4
Opportunity Development...........................................................................................................4
SECTION 4......................................................................................................................................9
Conclusion...................................................................................................................................9
REFRENCES.................................................................................................................................10

INTRODUCTION
Entrepreneurial Development refer to the capacity of an individual to develop as well as
manages the business venture by taking favourable risk to earn the profit. It simple refer to
setting new business by enhancing the skill as well as knowledge of an entrepreneur through
various training and development programme (Gibb, Haskins and Robertson, 2012). For the
better understanding of report Delicio Patisserie limited company has been taken which is
confectionery store situated in United Kingdom. This confectionery store offers various flavours
and types of cakes and pastries. The most innovative step of company is launch of Liquid
Nitrogen Ice-cream. Company also provide customisation in cookies and cakes as per customer
requirements which makes company different from other traditional approach bakeries. Along
with that it also provide the services of customised cakes to fulfil the requirements of customer.
This report covers the introduction of an entrepreneur idea as well as unique value proportion.
Along with that it carries a brief discussion on opportunity formation as well as opportunity
development. Lastly, conclusion will be made on on the process of entrepreneurship
development.
SECTION 1
Introduction on idea and brand proposed development
The entrepreneur idea of developing Delicio Patisserie which is a confectionery store was
initiated by three entrepreneur by offer various type of cakes and pastry. The main reason of
developing such entrepreneur idea was that they analysed the problem of customer that they have
to purchase those flavour or design only which are available in the market. So to overcome their
problem along with regular bakery product they also provide the facility of customised cakes.
Moreover, to make it possible they can appointed creative chefs and provide training to the
internal worker of the organisation. This training session and guidance of creative chefs can help
worker to gain the knowledge of various technique that help in the preparation of various design
as well as pattern of cake. Thus, respective brand has come up with various types of bakery item
such as biscuit, wafers, pastries as well as innovative design of cakes. Such as Ombre which is a
kind of celebration cake on which different colour combination is used for doing icing on the
cake. Ruffles which is an elegant design, animal print cake usually animal lover like these types
of cake, its also include basket weave cake that is basically ordered to celebrate bridal shower or
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mother's day. Hence, company offer various types of cakes for the celebration of different
occasions such as wedding or birthday function. Furthermore, above selected company can also
accept the orders or designs which are in the mind of customer this has made the entrepreneurial
idea customer centric. For instance, if customer order healthy like sugar free cake that needs to
healthy that company can prepare it accordingly. Therefore, customer can guide the company
about the flavour, design, base, size and so on.
Unique value proposition refer to the benefit the company is offering to its ultimate
consumer by satisfying their need or solving their problem (Hayter, 2016). It basically
differentiate the product of company with its competitors by explaining the value derived from
the product to consumer. In context to above mentioned company can basically target to those
young or adult generation that are more keen to order customised cakes. Along with that it cover
all those people who are throwing any function and want bakery product to celebrate their
function. However, the unique value proposition of selected company is that they can have
expertise manpower as well resources to cater the changing needs of people. Moreover, their
bakeries should have open kitchens so that customer can see through the process of
manufacturing cakes and gain reliability over company as they promote the clean working
environment.
In UK market, in order to propose the development of idea respective company can take
the help of social media such as Facebook and Instagram where it can post various pictures as
well as videos while manufacturing cake to make customer familiar with the brand as well as its
existing offerings. Along with that they can share the video clips of love ones such as couples
who cherish their celebration by recording their see their order and taste it. Hence, the platform
of digital media can has help the company to widespread its reach and gain huge customer base.
Furthermore, they can provide the facility of same day home delivery facility for which company
does not charges any additional expenses. Therefore, such convenience gains the loyalty of
customer.
In UK, most of the people purchase bakery products and this trend is increasing day to
day. People on occasion of birthday parties, weddings, ceremonies, Christmas parties and other
family and social functions prefers to buy bakery products like cookies and cakes. As per
market analysis this is most preferred business in UK. Identification of customer segment
provide assistance in formulation of strategy and implementation. It is right time for starting this
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new venture because consumption of bakery and related food items has been increased during
last five year (Beske, Land and Seuring, 2014). Customer segmentation includes classification
of customer on the basis of habits, purchasing power, age, interest and gender etc. It help in
targeting a specific customer group to make different marketing strategies. It help in
identification and focusing on more valuable customers which help company in its foundation
days to ensure survival. As Delicio Patisserie, is concerned with food industry so company
divides customers and make customer segmentation on the basis of their purchasing power and
taste or preferences as per different age or gender.
SECTION 2
Opportunity Formation
Organisation process refers to the process involved by business to make effective
decision and assigning task appropriately to accomplish the objective of an organisation
(Guerrero and Urbano, 2012). The purpose of organisation process is to determine the goal of
business and allocate all the activities signification that helps to attain the success. In relation to
Delicio Patisserie the idea of conducting business process is by opening confectionery store that
along with offering the regular or common bakery food items also cater the changing needs and
preferences of customer. To make it possible they provide adopted various measures such as
provided training and development sessions to its appointed staff, analysed the competitors
marketing as well as pricing strategy as well as invested in research and development activity.
Moreover to run the organisational process respective company identified the problem of those
people who find lack of availability in the design or pattern of cake as per their choices. So they
converted this problem into an opportunity for their business and come up with a powerful
additional service known as customised services. This helped selected company to expand their
reach and cover various segment of market. Moreover, they also provide healthy bakery items
such as sugarless cake or high protein cake to satisfy the demand of health conscious people who
previously used to avoid bakery items. Therefore, keeping in mind the need as well as
preferences of customer and operating its business accordingly helps the business to flourish,
increase its brand awareness and engage the traffic of potential customers.
In present business scenario of UK, there are opportunities for company to make
expansion in whole food industry. Such opportunities can be classified as short term and long
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term. For Delicio Patisserie, there is short term opportunity is coming festival season of
Halloween ,Christmas etc. which can boost company's performance and also company has an
opportunity to attract more customers in festival season. Long term opportunities for company
is its new innovation product like Nitrogen ice cream, customisation in cakes and cookies as per
customer requirement. Beside this stability in country's economic condition and government
policies for food industry is opportunities for company.
SECTION 3
Opportunity Development
Financial strategies of company includes use of short term loans for company's short
term objectives not for long period purposes, maintaining a appropriate level of working capital,
always keep contingent liquid funds and focusing towards increasing profits not only revenue.
Effective financial strategies provides assistance in achievement of long term objectives and
goals. But first it is considerable for Delicio Patisserie to analyse their investment and costs.
Following is an analysis of cost as against its total investment in venture, as follows:
Investment analysis for new venture:
Particulars Amount (£)
Advertising for Opening 1100
Building 265000
Building Improvements/Remodelling 35000
Machines & Equipment 120000
Insurance 4420
Public Utilities Deposits 9800
Trade Licences 11000
Employees expenses 45000
Telephone 2980
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Starting Inventory 17550
Tools & Supplies 7880
Vehicle 25450
Reserve for Contingencies 15000
TOTAL 560000
Source of Investment:
Banks 460000
For cost analysis, Break even analysis method is most appropriate as it determine the
level of sales and demand that company is required to achieve in order to maintain target profits.
It indicates that what a business entity required to sell, periodically in order to recover all
investment. As Delicio Patisserie venture is new in food industry so it is profitable for company
to maintain its funds effectively to achieve targeted share in industry. In order to determine as
well as develop the pathway there are various members of organisation whose intervention
works in favour of organisation as they show them the right path to run the new business (Perry,
Chandler and Markova, 2012). The role of CEO or chief executive officer is to make vital
decision and manage the operations of business. Similarly, CMO or chief marketing officer is
responsible to build marketing strategy and predict the growth or sales of new business.
Whereas, financial expert or leader is responsible make all financial decision as well as prepare
the financial statement of new bushiness enterprise. Marketing strategies are also significant for
company to develop a loyal customer base. At initial stage all new ventures tries to formulate a
marketing strategy as it determines the future path of company. Delicio Patisserie has adopted
mixture of more than one strategies like relationship marketing, internet marketing, diversity
marketing and transactional marketing. Through all these strategies company is tries to enhance
its reach to maximum customers. Company's internal policies are also combines these strategies
to retain their customers for long term. Currently company's future plan is to make expansion in
industry, introduction of new unique products and give tuff competition to its top competitors.
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But company's future growth depends upon its performance in initial growth period. Main target
of company is to increase their efficiency and quality to increase number of customers which can
ensure company's future growth. Along with that there are various official or leader that plays an
effective role in developing pathway and future growth for new enterprise. Therefore, there roles
are determined below:
Chief Executive Officer (CEO): A Chief Executive Officer is an executive in a
company with highest ranking, duties which are involved with this position includes decision
making process, managing overall operation of a company. They act as a main source of
communication channel between board of directors and corporate operations, they are also seen
as a face of a company for the public and consumers. CEO help organisation to set up a vision
and tone for a company. Following are various roles and responsibilities associated with a
position of CEO:
Roles and responsibilities of a Chief Executive Officer
 The most important role of a CEO is to act as a leader and advise its board that what
necessary decisions should be taken in order to grow its business and improve its
performance and stability in the market.
 They are considered as a information bearer in order to guarantee board and staff that
they have a sufficient and latest information of the company (Bosworth and Atterton,
2012).
 The main responsibilities include board support and administration which includes
providing information to board members, interacting between board and staff, and
supporting evaluation of board for chief executive.
 The second most important responsibility that CEO bears is to design oversees expansion
plan, marketing, delivery, promotion and quality of product and services.
 Decision making is a process which is one of a role of a CEO as they formulates
strategies and new polices in order to provides company a better ways to grow and
stabilize in this competitive environment.
Role of a CEO in Delicio Patisserie is to mange its business as it is newly established
business it require more attention and innovative strategies to capture market and stabilize itself
in a competitive environment. The decision which will be taken by CEO of Delicio Patisserie
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will include different ways in which they can grow their market share with their innovative
products and highly qualified professionals.
Chief Marketing Officer: CMO helps the company to develop marketing marketing
strategy by finding the market, developing the message as well as identifying the value
proposition to reach to target audience. The roles and responsibility of CMO are stated below
(Jonsson and Lindbergh, 2013):
 CMO of above mentioned company makes desirable strategy to increase the sales of
product, lowering down cost and make effective effort to mitigate the chances of risk or
losses.
 Moreover, they even build the customer life-cycle the relevance of doing so is that they
track the demand of customer by identify the problem like Delicio Patisserie identified
that their customer find difficulty while carrying the big cakes along with them. After
identifying it the CMO of respective company developed the delivery facility due to
which they provide free delivery services to satisfy the problem faced by consumer.
 Along with that CMO of selected company are responsible to update the whole team
about the changes. As respective company's business idea is presently based on
innovation due to which they want to remain updated with the future changes as well.
Financial leader : The role of financial leader or expert is top manges the finances of
new business. Thus, they are responsible to manage all the financial offering of the new business.
Therefore, the roles and responsibilities are defined below (Adebayo and Kolawole, 2013):
 The role of financial manager within above mentioned company is to forecast the cash
flow requirement like how much cash does the business need to meet all the financial
obligation. For instance, if the business is thinking to provide customised cake services
then before implementing it they must know the check the financial status of company
and adopt innovation accordingly.
 Examine the amount of cash which can be generated within or outside the business such
as to convert idea into reality an entrepreneur can take the fund from various sources like
bank loan, venture capitalist, or raise the fund from public. Herein, respective company
has decided to start its operations by taking loan from bank.
Operational leader: Operational leader's primary purpose is to create the outcome by
emphasising on the process part of business. They perform multi tasking role by coordinating the
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activities of internal staff (Fernández‐Serrano and Romero, 2013). Therefore, some of the roles
of operational expert are defined below:
 Operational expert of selected company make sure they makes an optimum utilisation of
resources as well as personnel. This will help new enterprise that it manages its financial
budget by minimising the wastage and reduce the unnecessary expenditure of company.
 Along with that make valuable planning, policy and effective decision like, the operation
manager Delicio Patisserie company help the manager to human resource while
conducting the recruitment as well as selection process. In addition to it they promote the
culture of company by increasing the morale of existing employee.
 Make decision in relation to building a strategic alliance as well as partnership with other
company. Herein, selected company can form alliance with other company if it finds the
competitive pressure.
Human resource: The manager of human marketing resource are responsible to develop
as well as manage the culture of organisational. They basically hire the employee, train them as
well as maintain the benefit as well as payroll for the employee. In Delicio Patisserie human
resource management assist mangers in effectively utilisation of all its human resources. In
initial year HRM is important as it develop a foundation for company. It also help in
enhancement of employees efficiency which in long term provide some competitive advantages
Thus, some of the vital responsibilities of human resources manager for company are stated
below:
 The workforce of the organisation helps organisation to attain the objective. Human
resource manager of selected company act as a liaison between management as well as
employees which finally helps in the engagement of employee by maintaining positive
relation with the organisation.
 Moreover, they provide regular training and development session to the staff of
organisation. This helps them to enhance the knowledge of the existing staff as well as
serve the premium quality product or servmarketing straices to the customer (Gustafsson-
Pesonen and Remes, 2012).
 There are various laws in favour of employee such as health and safety law which make
sure employee gets safe working environment, tools as well as machinery that does not
8

hamper their livelihood. Thus, HR make sure the organisation should they abide by all
the laws that safeguard the interest of employee.
Hence, in order to increase market reach the CEO of a company has decided to launch
mobile application to increase the connectivity of the people. This method will increase all the
dealings with the help of electronic media. Thus, it has increased the convenience level of
customer by generating additional revenue for company.
New venture development process
Venture development process refer to the creation of new or existing product in new or
existing market.
Identification and Evaluation of opportunity: Delicio Patisserie company analysed that
with the change in market trend, interest and preferences. Customer are more keen to get
customised services as the choices of an individual differ from one to other. Along with that they
provide healthy bakery items to cater health conscious people demand.
Development of business plan: On the basis of market opportunity above mentioned
company developed the business plan on which they did the deep analysis of the competitors
strategy, number of staff to be appointed as well as variation of products to be offered. These
decision are cased upon the capital or financial status of company (Yu, et.al., 2014).
Development of required resources: Once business plan is identified then resources are
allocated to the personnel of organisation. Like, the respective company should not comprise on
the quality part. Along with that company to make the optimum utilisation of resources to
minimise the cost and achieve sustainable development.
Management of the resulting enterprise: At the time of implementation it is significant
for the respective company to maintain the good relation between employee and management as
well as coordinate all the activities of business. This helps the business to achieve its objective
by meeting the need of customer.
Canvas model
Consumer
segment
 Mainly
targets to
youth as
Key activities
 Ensuring
the
quality of
product
Cost Structure
 Promotion
al cost
through
digital
Revenue streams
 Provide
attractive
design and
pattern of
Value proposition
 Free
delivery
facility
 Customised
9

well as
adult.
Along
with that
people of
all age
group
who are
organisin
g any
event
related to
wedding
or
birthday
party ans
so on
(García-
Rodrígue
z, et.al.,
2015).
 selling
and
pricing
cost
 Manage
ment of
inventory
media or
traditional
media.
 Appointin
g new
employee
s as well
as expert
chefs
 Purchasin
g
innovative
sales
equipment
s
cakes to
generate
revenue
cakes
Key Partners
 Investors
 Suppliers
 Deliver
boys
 Stakehol
ders
Key resources
 Chefs
 Raw
material
 Employe
e
 Inventory
Channels
 Online
media like
website of
company,
Facebook
and
Instagram
 Physical
stores
Customer
relationships
 Personal
assistance
to provide
customised
services
 Mobile
application
10