University of Northampton: Entrepreneurial Strategy Report - MKT3031

This report provides a comprehensive analysis of entrepreneurial strategy, focusing on the case of Rowlinson Knitwear, an SME in the clothing market. It begins with an executive summary and introduction to entrepreneurial strategy, emphasizing its importance in guiding business decisions. The main body of the report explores various entrepreneurial strategies applicable to SMEs, critically evaluating the Ansoff Matrix (market penetration, market development, product development, and diversification). It then analyzes the strategic situation of Rowlinson Knitwear, utilizing SWOT and PESTLE analyses to assess internal capabilities and external challenges. The report also develops strategic objectives and designs an implementation approach. The report concludes with recommendations and a conclusion, supported by references. The analysis emphasizes the importance of adapting strategies to market conditions and leveraging strengths to overcome weaknesses. This report is a valuable resource for understanding entrepreneurial strategy and its practical application in the context of SMEs.

Entrepreneurial
Strategy

EXECUTIVE SUMMARY
The concept of Entrepreneurial strategy will play the crucial role for the business
organisation. It guides that how any of the business decision are required to be taken so that
effective results can be obtained. The file will make the concept clear about the different various
strategy which can be used according to the requirement of situation. PESTLE is the model
which will guide Rowlinson Knitwear that what can be obstacles which company may have to
face. SMART objective is one of the which can allow business organisation to perform better
with the market and gives idea that how effective results can be obtained in short period of time.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
b) Prepare and critically evaluate a range of entrepreneurial strategy which SMS's can use for
the purpose of preparing or even consolidate and also explain which strategy is effective for
the business.................................................................................................................................1
c) Try to analyse the strategic situation of the organisation and its capabilities and position
and even develop the objective...................................................................................................3
d) Develop a strategy which will be consistent with an organisation's strategic situation and
design an approach to implementing a chosen strategy..............................................................6
f) Recommendation.....................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
.......................................................................................................................................................10

INTRODUCTION
Entrepreneurial Strategy is one of the most crucial process for any of the entrepreneur as it
guides them that how they are needed to prepare plans and policies for the purpose of
accomplishing the goals of an organisation. This types of strategy is helpful whenever any of the
firm wants to perform at a greater platform or wants to overcome from the problem. In context of
the file the chosen organisation Rowlinson Knitwear which deals in the market of clothing at a
smaller ground. It is one of the SMEs performing within the premises of United Kingdom. For
the purpose of understanding about the organisation in detail several topics are required to be
discussed and they are entrepreneurial strategy which can guide the company that how they are
required to perform in any of the market. Analysis will be done related to the strategy which has
been adopted by the business organisation and recommendation is to be express in the file so that
future improvement can be done.
MAIN BODY
b) Prepare and critically evaluate a range of entrepreneurial strategy which SMS's can use for
the purpose of preparing or even consolidate and also explain which strategy is effective
for the business
Talking about the present scenario, it can be clearly said that any of the entrepreneur
should have new plans and policy so that they can attract the new market towards their product
in the market. Their idea are required to be innovative so that tough competition can be given to
the rivalry firm at any period of time. In simple words, better plans and idea can easily help
organisation to perform in the market for longer period of time (Engelen and et. al., 2015).
Talking about the Rowlinson Knitwear, it is necessary to understand that they are performing
their business activity at a smaller ground and to become effective within the market they must
ensure that they will perform differently in the market so that they can allow themselves to
accomplish their goals. Whenever any of the new plans and policies are being made, it is
necessary that it must be used as per the requirement of situation so that problem will not raise at
any period of time.
Company like Rowlinson Knitwear is performing at a smaller ground where they are
required to build their market at a greater speed so that they can allow themselves to earn the
profit. In this situation, they have the option to adopt Ansoff Matrix which will allow the
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company to take quick decision to perform better in the market. Discussion about the model has
been done below.
Market Penetration: This is a primary stage where company is required to perform at a
smaller ground where they must focus on marketing strategy. Here, company gets the option to
improve the quality of product so that customers can be attracted towards the organisation and
even it can make easy for company to accomplish there goals within the specific time period.
Talking about Rowlinson Knitwear, their manager is required to do effective marketing so that
they can improve their performance within the market (Hernández-Perlines, 2016). Some of the
basis marketing tools which can be used by the organisation is digital marketing, advertisement
on social media, television and newspaper, also free samples can be provide to customers to
check the quality of products. Also, it will be good option for Rowlinson Knitwear that they can
take the help of feedbacks from the customers who are connected with the organisation so that
better entrepreneurial strategy can be formed.
Market Development: This is also the strategy in Ansoff Matrix which says that any of
the business can perform better in the situation where they are able to expand their business but
taking their product to new geographical area. Here, company is required to convince the new
customers about the growth of their existing products so that better results can be obtained.
Talking about the company like Rowlinson Knitwear, they have good entrepreneurial strategy
where they have the clothing for different class of people. It allows them to target different
people living in different part of UK. In simply words, it will help the business organisation to
improve their performance and revenue can also be increased at a significant speed.
Product Development: This is the strategy in which organisation is required to bring
new and interesting product in the existing market so that profit ratio of the company can be
improved at a greater speed. But, whenever this types of strategy is being adopted by the
organisation, it is necessary for the business organisation to ensure that they will perform as per
the requirement of customers so that goals can be accomplished (Jessop, 2019). In context of the
Rowlinson Knitwear, it is necessary to understand that when they will introduce new product in
the market they will come up with proper planning and plotting to achieve the mission and vision
of the organisation.
Diversification: It is one of the concept where it will be important for the business
organisation to enter into the new market with the help of new products which can be really a
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difficult task. It is one of criteria where problem may arise for the business organisation. In
context of Rowlinson Knitwear, they will have to expand their business into new market where
they have not performed previously. It can be very negative for the organisations but it is
necessary they are required to prepare suitable strategy which can help them to give tough
competition to rivalry firm (Khedhaouria, and et. al., 2015). If in case, this entrepreneurial
strategy works for them then profit can be easily maximised.
Critical analysis: From the above discussion, it can be easily said that company take the
help of market penetration for the purpose of accomplishing the goals and improving the
entrepreneurial strategy. It will allow the organisation to perform better because they will not
have to invest lots of capital and even lots of weakness will be covered to improve the
performance of the organisation. If products of the company will be of better quality then they
will have the option to give tough competition to rivalry firm.
c) Try to analyse the strategic situation of the organisation and its capabilities and position and
even develop the objective.
It is necessary for the business organisation to understand that they must work according
to their capabilities and strength to so that better results can be obtained in the market. For the
purpose of finding the strength of the organisation it will be crucial for Rowlinson Knitwear that
they must prepare SWOT analysis to find out their strength and weaknesses to improve their
market position. In order to determine the external factor which can create issues for the business
organisation, PESTLE can be used. To understand, both internal and external capabilities of the
organisation SWOT and PESTLE of Rowlinson Knitwear has been explained below:
SWOT analysis: It can be explained as the business model which simply gives the idea
that how company is performing and where they are required to enhance the performance so that
organisation goals can be accomplished (Kljucnikov and et. al., 2016). As Rowlinson Knitwear
is performing their business at a smaller ground, it will be important for them to judge their
performance so organisation goals can be accomplished.
Strength Weakness
Rowlinson Knitwear is able to work according
to requirement of customers as different
category of products are being manufactured
There management is very weak where they
are unable to take any of the decision as per the
requirement of situation due to which
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by the organisation. unnecessary expenses are being occurred on
daily basis which is creating the problem for
Rowlinson Knitwear.
Opportunities Threats
Here, manager of Rowlinson Knitwear has the
option to perform in the market by prepare the
new entrepreneurial strategy so that
organisational goals can be accomplished.
In present scenario, there are number of
organisation in UK which has been dealing in
the market of clothing due to which tough
competition can be given to SMEs so that lots
of problem may occur for the company in
future period of time (Lumpkin and et. al.,
2015).
Pestle analysis: This is the business model which allows the organisation to determine
that how they required to deal with external challenges which may create problem in
accomplishing the target on given time period. If company like Rowlinson Knitwear will be able
to find about all the external factors then they will have the better option to perform better. Even
company will get the opportunity to deal with the challenges which they might have to face.
Detail explanation about the PESTLE of Rowlinson Knitwear is mentioned below:
Political: This is one of the external factor where decision taken by the ruling political
party create issues for the business organisation. Talking about the Rowlinson Knitwear, they are
performing their business activity within UK where decision of political parties hardly affect the
business organisation. It is the reason that company will not have to suffer but if any of the
adverse decisions are taken then in that particular situation company might have to suffer
because unnecessary expenses may occur.
Economical: The economic condition of the nation which can create issue for company
to earn the profit. Change in inflation rate, exchange rate, interest rate are the issues for
organisation which reduces the productivity of a company (Marquez-Berber and et. al., 2015). In
UK, economic growth is well very in recent period of time which is allowing the people to spend
the huge amount of capital through which Rowlinson Knitwear can easily earn the profit from
their customers.
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Social: It is the factor which is influenced with the culture and believes of the local
people staying in the area where company is dealing the operational activity. Talking abou
Rowlinson Knitwear, they must be able to work design the clothing products as per the
requirement. At the time of preparing entrepreneurial strategy, management must ensure that
they are working according the requirement of a customers in order to achieve the target. It can
be one of the way through which organisation goals can be accomplished.
Technological: In present scenario, everyone believe that work must be done with the
help of advance technologies so that working condition can becomes easier and faster. In
context of Rowlinson Knitwear, they are performing the business activity at smaller ground
where it will not be possible for them to adopt new changes on daily basis as it requires huge
amount of capital. It can be one of the external factor which can create the issues for the
company to give competition to rivalry firms.
Environmental: In present scenario, every people are aware about the environment and
they even don't want to adopt those product which can harm the environment. It is really
important for the company like Rowlinson Knitwear that they entrepreneurial strategies should
not be against the environment because that can be only the reason which may raise problem for
the business organisation (Morris, 2015).
Legal Factor: Nowadays, it is necessary that laws and regulations must be followed by
the organisation because in simply ways it provides benefit to take accurate decision. But,
company like Rowlinson Knitwear have to pay additional amount of money because every work
are needed to be done in a systematic manner which will raise overall expenses. In simple words,
it will be the factor which will create issues for the organisation in future period of time.
There are number of situation where organization has to suffer just because of the legal laws
which are needed to be followed by the James Motors. It is the factor which will create more
pressure to the firm in order to work in a systematic manner.
Critical analysis: If in any of the situation company wants to perform better in the market
they are needed to ensure that they will will perform as per their potential because if in any of the
situation company fails to do so then problem might occur. In addition. Preparing proper plans
and policies can help the business organisation to perform better in the market (Shirokova, and
et. al., 2016).
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SMART objectives: It is necessary for the business organisation to understand that if they
want to perform better within the market then they are required to work as per the plans and
policies. Here, company like Rowlinson Knitwear have the option to prepare SMART objective
because that is the only way to accomplish the target in specific time period. SMART objective
of Rowlinson Knitwear includes:
Rise sales by 20 percent within 1 year: This is one of the SMART objective which is
connected with the time. Here, company is willing to enhance their sale in upcoming time period.
In order to do so, manager of Rowlinson Knitwear has the option to take the help of existing
market by adopting marketing penetration strategy. This will allow company to attract more
customers towards the company.
Development of a channel sales to reach customer within 6 months: The management of
Rowlinson Knitwear must look for different channels of doing the right advertisement which will
allow them to perform better in any of the situation. Here, company should hire the effective
marketing team who can help to sale out the product of an organisation in different part which
has been decided by the organisation to target (Wales, 2016). It will help company to meet out
their targets in the time period of six months.
d) Develop a strategy which will be consistent with an organisation's strategic situation and
design an approach to implementing a chosen strategy.
As company have prepared that what they are going to do in upcoming time period to
accomplish their targets and goals. It is will be crucial for them to adopt suitable strategy from
Ansoff Matrix because it will allow to complete the SMART objectives.
Market Penetration: Talking about the first SMART objective of Rowlinson Knitwear to
expand their business at a greater platform, they willing to increase their sale by 20% in
upcoming 1 year (Yun and et. al., 2017). To do this, quality of product must be improved and
secondly, obtaining regular feedback from the customers can help the firm to achieve their
targets on time.
Market development: As company like Rowlinson Knitwear is planning to expand their
business to supply the product to new customers, it will be important for them to understand that
they can take the help of market development where they will be able to sale their existing
product in new market.
Segmentation, Targeting and Positioning
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It can be explained as the process which tells that how any of the business organisation
can make any of the work into simplest form so that business goals can be accomplished.
Segmentation: In this respective stage, the management of Rowlinson Knitwear is
required to segment the customers specifically based on area (Zehir, and et. al., 2015). The main
customers of the company are from the part of Great Britain.
Targeting: As company mainly manufacturer the clothing products of offices and schools
their major target will be in the market of schools and factor where dress code plays the crucial
role.
Position: In order to make effective positioning in the company, they are planning to
increase the channel of advertisement so that customers can be attracted towards the
organisation.
f) Recommendation
In order to achieve the target of an organisation, it will be important for business Rowlinson
Knitwear that they must try to find that what they who they can focus on increasing the sale. To
attract more customers towards the business organisation, it will be necessary for them to give
more focus upon market penetration which will allow company to earn more profit. Even,
management should focus on their strength because working as per the strength will uplift the
performance of a company.
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CONCLUSION
From the above file, it can be winded up that any of the entrepreneur is required to give
focus that how they are required to work in any of the situation. Selection of suitable strategies
will be the which can help the organisation to accomplish achieve their target. It can be said that
Ansoff Matrix can be the way which can help the business organisation to decided that how they
are going to increase their sale by the selection of appropriate market at right situation.
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