Managing Entrepreneurship, Innovation and Creativity Report - UGB 234

This report, submitted for the UGB 234 module, delves into the multifaceted aspects of managing entrepreneurship, innovation, and creativity. It begins by analyzing the environmental factors that shape an entrepreneur's abilities and explores the concept of a fast food franchise, focusing on innovative and creative strategies to differentiate it within the market. The report defines a social enterprise and presents a business model canvas for the proposed fast food venture, emphasizing the importance of healthy food options and building customer trust. The assignment also covers the motivations behind setting up a social enterprise and includes a detailed concept plan addressing market research, marketing, operations, human resources, legal, and financial aspects, along with contingency plans. The report highlights the importance of understanding competitors and adapting strategies accordingly. The report also includes an executive summary, acknowledgements, and a table of contents to aid the reader.

Running head: MANAGING ENTREPRENEURSHIP INNOVATION AND CREATIVITY
Managing Entrepreneurship Innovation and Creativity
Name of the Student:
Name of the University:
Author Note:

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Executive Summary:
The paper analyses the background, environment and creative ability of an entrepreneur. It also
covers the analysis of a fast food franchise that an entrepreneur desires to launch describing the
innovative and creative idea that would make his enterprise stand out from others in the vast
market. The assignment also covers the definition of a social enterprise and provides a business
model canvas for the innovative idea of the entrepreneur.
Acknowledgements:
It took a lot of effort to complete the assignment. However this task would not have been
complete without the support of many individuals. I am very grateful for the help and support
that I was provided with.
I am thankful to my university and teachers who provided constant guidance and supervised
whenever in need. Their supervision and instructions were necessary to continue with the work. I
am also grateful to my parents and family for the kindness and encouragement that they provided
me with.
My sincere thanks and appreciation to all the people who were directly and indirectly related to
the assignment; it is because of all of them that this assignment developed and was completed in
time.

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Table of Contents
Introduction......................................................................................................................................3
Research Question:..........................................................................................................................3
What is Social Enterprise?...........................................................................................................3
What are the Motivations in Setting up a Social Enterprise?......................................................5
Concept Plan:...................................................................................................................................7
References:................................................................................................................................14
Appendix:..................................................................................................................................17
Appendix A:...........................................................................................................................17

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Introduction:
It is said that the environment around an entrepreneur makes that person capable in
entrepreneurship. Entrepreneurship is not a trait that a person can have from birth. The society
around him, the neighbourhood, parents, teachers, friends and even the school atmosphere
determines the qualities that will make an individual an entrepreneur. When different social and
environmental factors assimilate in proper order, an entrepreneur is born.
I am an Entrepreneur in the fast food franchise. Likewise, I was not born with any
entrepreneurship traits; it developed within me from observing and learning from my
surrounding environment and society. No one from my family was ever an Entrepreneur. The
skills and traits that made me realise that I can run a fast food franchise as an entrepreneur was
gained from the surrounding society and some of my teachers (Thornton 2016). The skill of
strategic thinking, the ability of managing time and also convenient problem-solving efficiency
are some Entrepreneurship skills that I own. I have better communication skills as well, and I
have been told that I am a resilient personality who can handle rejections in a positive manner.
The visionary that needs to be blended with execution is an important attribute that every
entrepreneur must possess and I am bringing the same attribute to this business module.
Research Question:
What is Social Enterprise?
The recognition of the social problems to attain a social change through the employment
of entrepreneurial operations, process and also principles is known as Social Entrepreneurship.
The change that is achieved through social entrepreneurship may not go through complete

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elimination (Radesky 2014). It is about creating a research that will completely define a certain
social problem and then go through processes of organization and management of a particular
social venture to gain the needed change. Depending on the circumstances, this entrepreneurship
may be a lifetime process that would solely focus on the improvement of the society.
The centre of attention that social entrepreneurship invests on is change in the society,
and this makes it different from general business entrepreneurs and social entrepreneurs. A
common business entrepreneurship works towards opening up a new business and diversifying
that work, whereas social entrepreneurs are different in the sense that they are associated with
non-profit organisations so that a positive change can be brought to the society. When discussing
about social problems that these entrepreneurs deal with it must also be noted that the process
includes environmental problems too in their work list. They raise funds through diverse events
and community activities by being associated to certain NGOs; the funds then are spent in Child
Rights or even treatment of waste goods harming the environment, or social ventures like women
empowerment establishments.
For instance, the foundation of Gravity Light by Jim Reeves and Martin Riddiford is a
charity for the environment to reduce the harmful effects of kerosene lamps and replace it with a
kind of light that uses laws of gravity and incorporated weight to lighten up. Another example
can be given for the social entrepreneur Neil Daly, who developed a particular attachment that
can be fitted in the mobile phone and take photographs of moles that can be potentially
cancerous. These photographs will diagnose the cancer thus helping in the warning and reduction
of skin cancer rates throughout Britain. This idea has the power to help people through life and
death literally. One of the most recognised social entrepreneurships is the George Foundation; it
works for Women Empowerment by providing them facilities like education, business

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development, vocational training and savings planning. All the above-mentioned
entrepreneurship aimed at bringing a change in the society that is required in utmost necessity.
This deed is helping all the social entrepreneurs to attract large masses of volunteers helping the
idea to change the society expand far and wide. In order to make it easier, the government of UK
has made an introduction of tax relief up to 30% so that the investments in social enterprises are
encouraged more (Elbel et al., 2013). The support that this entrepreneurship is receiving is
increasing more by day especially in certain terms of specialization like education or health.
What are the Motivations in Setting up a Social Enterprise?
According to Social Enterprise UK, which is the national embodiment of social
enterprises in the United Kingdom, “social enterprise” is a space where the social
entrepreneurship operates as a transparent and autonomous body that possesses a distinct mission
of social or environmental change (Liu 2017). The income that is generated from these
enterprises are invested in majority for attaining the change of the issue that is bothering the
community in the first place. In the setting up of a Social enterprise, motivations are required to
keep on working with the initiating desire to bring a transformation in the society. A motivation
that initiates the setting of social enterprise is that it would provide employment to certain
disadvantaged groups and that would be a huge support granted to them at the starting itself. An
important fact about social enterprise is that, unlike general enterprises, it maintains as well as
creates products or services, according to the economic and social needs of the community. The
needs for product are not met by the demands of the market (Altit 2015). In addition to that, this
business has its existence to distribute its profits among several other charities and NGOs to
expand their activities of elimination the issue that they are concerned about from the society.

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It is a common theory that compassion is a fact that drives social entrepreneurs to
go ahead and attempt altruistic deeds. The strong desire to help the society is the greatest reason
behind the engagement of social entrepreneurship along with the entrepreneur’s commitment to
public interest. It has been deduced that most of the motivation that social entrepreneurs acquire
are from their own life and experiences; from their own awareness of social injustice and
inequality (Katz 2014). This close combat with the social issues motivates an individual to a
great extent up to the point where he decides to set up a social enterprise in order to save others
from the same trouble that the person had to undergo (Berger 2018). Extravagant rewards or
money is not the primary factor for social entrepreneurs to set up a social enterprise and operate.
Profit maximisation is a goal for social enterprise and not a cause to involve in the act of change
or abolition of any social issue; moreover, social enterprises must attain that much profit in order
to sustain in the market to help the community in need.
Moreover, the help provided from the government has made it easy to set up a social
enterprise, which acts as a motivational factor for the social entrepreneurs too. For instance, the
Social Value Act of 2013 has made it a requirement for every public authority to consider their
procurement to put in use for the improvement of the environmental, social and economic
wellbeing (Min and Min 2013). This act increases the demand of the social enterprises and also
puts emphasis on their work. There are number of policies and initiatives that are evolving in
favour of social enterprises that help in expanding the diversity of the arena and makes social
enterprises inclusive of all practices.

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Concept Plan:
With growing technology and busyness of people’s life, fast food has been a boon for the
workers around the world. It has become one of the most popular ideas in the business arena in
today’s world. With no time in hand, people opt for foods that do not take much time to prepare
and are easily available around the place to consume in less time so that the busy workers can
continue with their respective jobs without wasting much time. Even a great part of the children,
teenage and young-adult population are drawn towards the fast food ideas since it has enhanced
taste as compared to common foods.
Fast foods bring excellent opportunities in the niche of the food franchise sector. There
are diverse options to offer to the customers, and are preferred more for the option of quick
delivery that only fast food industry provides (Lopez 2018). Keeping in mind the concept and
opportunity of the business plan, my idea has been to introduce healthy fast food substitutes in
the market with organic and fresh products, since health is lacking in the franchise of fast foods.
In a world full of fast food that deteriorate the health system of human body, my
objective is to introduce a proper healthy range of fast food options that will be easily accessible
to all, be it workers or children, or teenagers. It is evident that nowadays people are getting more
conscious about their health which has its effect on the marketing of the fast food companies
(Aftab et al., 2013). My objectives regarding the fast food business will be to assure the health
factor in the fast food that I will offer to the customer; to build a trustable relationship with my
customers. A repeat-customer base as well as customer satisfaction will be maintained
throughout. Fresh food supplies and organic quality of the product will be delivered; it will
conduct marketing campaigns intensively to acquire busy lunch times and dinner times. The food

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business will ensure to build a brand through the attainment of measure goals and maintain the
objectives throughout the whole time.
To gain success in any kind of business, one must have a detailed account of their
competitors so that you can quickly recognize the market trends and adapt your strategies similar
wise. In this way one can preserve their foothold in their business (Allah et al., 2013). After
categorizing my competitors in the market, it was found that there are a number of primary
competitors present in the market, who targets the same group of customers like my business
plan; however they do not have the option of healthy foods in their list, thus making it easier for
me to target the health conscious customers towards my food.
As per the Secondary competitors, they are high quality restaurants that offer three course
meals or café shops that do not have much snacks option (Macguire 2015). The target that these
competitors aim for, are not similar to mine, thus the threat that I possess from them is negligible
(Rubin 2014). The strength, weakness and missing statements of the competitors have been taken
into account to keep my position ahead of them in the market.
Keeping track of the strength and the weaknesses of my competitors I have analyzed my
target market and found that when it comes to targeting customers for fast food, there are
generally two segments in which the marketing can be categorized; these groups are the
Millennial and the Moms (Parker 2018). The Millennial forms the group of customers that are
urging for quick-serve delivery since they do not have much time to invest upon (Viera 2015).
This generation prefers foods from outside than home-made; hence these group look for
creativity and innovation all the time, which is my objective to provide. An idea of organic and
fresh fast food may seem enticing for this segment of target. Another market segment by the
name of Moms, are those group of consumers who have expectations that matches with my

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objectives. This group of consumers prefers foods that are quick-serving, but also healthy
(DiPietro 2013). Value is of significance for them since they like to spend money in a cautious
manner and the delivery would determine their loyalty. This particular segment of market is my
target since it will help me promote my prime objective to introduce a range of fast food
products that are healthy and cost effective.
However, just targeting my market is not the end of my marketing research; to maintain a
position, especially a leading position in the market, marketing analysis needs to be done on the
basis of 4Ps (Popovic-Lipovac 2015). It will help to illustrate the marketing strategies and tactics
that will enable the fast food franchise to reach out to more customers on the grounds of product,
place, price and promotion.
Fast food business plan that I have will offer healthy and organic fast foods including
burgers, sandwiches, snacks, salads, beverages and shakes. The product would also include items
of chicken and green veggies, as is felt convenient by the customer. Diverse products will satisfy
the market demand more than usual. My franchise will be located nearby corporate offices,
colleges and schools. I will have online accessibility to my franchise too, so that the customers
do not have the problem of availability. Moreover, schools and colleges are where most of my
target consumers are; young people love to consume fast foods more than any other consumers
and the current days have also shown their awareness to healthy foods. Schools and colleges will
be a good place to introduce them with my range of fast food products.
Since young people are the prime target of my market, the strategies adopted for the
promotion have been formulated carefully to target this particular market segment. Social media
and internet are a very significant part of their lives and thus my promotional strategies are done
through social media advertisement along with sales promotion and direct marketing. I have also

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applied two types of pricing strategy which is Bundle and Psychological pricing strategy. Bundle
pricing involves around price that is allocated to Combos of products that is lower than
individual products combined. This strategy will help me in letting my consumers try diverse fast
food products in a cost-effective manner and have each of my organic fast food products
promoted. Psychological pricing appears affordable to the customers instead of rounding the
amount off. This strategy is applied in order to have some profit from the business since the
profits are an important part of any business; it will help me to strive in the market.
The business idea that I have cannot be executed without the help of Human Resources.
The business depends on the efficiency of their performance, which is why the hiring and
training process is given so much of emphasis (Dudin et al., 2015). The basic people whom I
have hired as Human Resource in the fast food franchise are chef, the server, delivery boys, the
manager and a cashier. Apart from these, there are human resources like one in charge of
promotion, one in the management of online marketing and others. I have delegated each of them
with their responsibilities so that my concept plan is executed effectively.
As shown in the Business Model Canvas in Appendix A, it is clear that my company has
partnership with Bakeries and canteens of schools or offices, which is an important marketing
area or my target consumers. The key resources are provided by partners or stakeholders and we
try to maintain our value propositions throughout the day (Joyce 2016). The quality and quantity
of the food is nurtured equally to keep the consumers involved. We pay attention to every
customer segment and try to draw more.
There are certain legal issues that the fast food franchise usually has to face like the
concern about Health and Safety. Every fast food franchise has to obtain a permit in order to set
up its establishment anywhere (Jones 2018). Even before the partnership with school, college

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and work canteens, a whole legal procedure was to be followed. It is difficult for public to
believe in the concept of healthy fast food. Moreover, the fast food establishment is monitored
by a health inspector who does not only inspect foods quality and hygiene but also the safety
issues surrounding the franchise. There are mandatory insurances that has to be acquired in order
to run the business in order to have the business secured. There are laws regarding employment
too which I have ensured to follow; the interviews will be conducted in a way that does not
violate any laws, and also the employees need to have their identification papers submitted for
circumstantial purposes (Jones 2018).
A drawback of working in the fast food franchise is that it is cheap as compared to other
types of food since they are considered unhealthy and are easy to make. Moreover, there is a
health issue linked with the term that harms any further growth of the franchise. In order to strive
in the market, capital is required and due to the reputation, that fast foods have gathered over the
years, it becomes difficult to find an investor or stakeholder in order to support the growth (Jones
2018). Moreover, the new concept of healthy and organic fast foods is not believable to many
thus making them hesitant to provide any kind of financial aid predicting the risk of failure.
Thus, it becomes difficult to strive in the market with so many primary competitors, and
also to adapt according to the competitors’ trend. The competitors that I have for my business
plan are selling fast foods and are already established in the market. They are aware of the
strength and weakness of the industry (Drucker 2014). In addition to that, it is not easy to
maintain cost structure without any proper capital aid in the initial start-up stage of any business;
the cost of labor, fuel price used for delivery, the price of fresh commodities to be bought every
single day, every price then takes a toll on the cost structure, which may result in customer loss
(Parker 2018). However, one of the strengths that this fast food franchise is having is that the