Coventry UK Entrepreneurship: Down to Earth Case Study Report

This report analyzes the entrepreneurial journey of Suzanne Bristow, the owner of Down to Earth, an organic product store in Coventry, UK. Through an interview, the report identifies her innovative ideas and approaches to business development. It explores factors related to opportunities, innovation, and entrepreneurship, examining the data and relating it to relevant theories. The report discusses the entrepreneur's background, motivations, and the growth of her business, including the challenges and successes faced. It applies theoretical frameworks like PESTLE and Porter's Five Forces to analyze the business environment and consumer preferences. The report also explores the application of Schumpeter's, Hicksian, and Pure Monetary theories to understand innovation and opportunities in the context of the business. The report concludes with a summary of key findings and insights into innovative entrepreneurship.

OPPORTUNITY INNOVATION AND ENTREPRENEURSHIP
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Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Innovative Entrepreneurship are defined the situation of business that can implement new
idea and concept for increasing the profitability. Expert innovative entrepreneur will have
effective qualities and skills that support the business to improve the economic activities. The
ability of entrepreneur to create innovative products and services according to the demand of
global markets. It relies on the market position themselves to get funding and manage their
venture or become successful.
This report will discuss about the Suzanne Bristow entrepreneur that are running their own
product store in UK. It will conduct the interview with the entrepreneur for identifying their idea
and innovation in the business development. Along with this, it will help for building the
understanding in different factors related to the opportunities, innovation and entrepreneur.
Furthermore, this report will describe the analysis data through interview and examine the
findings. It will describe the entrepreneurial, opportunities and innovation theory that related to
the business for managing and controlling. At last, it will relate the content of interview to theory
of innovation in the entrepreneurial opportunities.
MAIN BODY
Analysis:
Suzanne Bristow is a great entrepreneur that run own organic product store which is located in
Coventry, UK. The name of her business is Down to Earth. At early age, she gained more
knowledge about innovation, opportunities in the business growth and development. The Down
to earth shop began with the small venture when Suzanne Bristow with two children’s. They start
to run the organic box scheme from home. She knew about the vegetables so it becomes easy for
her to sell in the marketplace (Bird, 2019). Suzanne always tried to make more accessible for the
people whilst being able to work from home. Many clients are giving the idea and encouraging
to establish their own business, provide the best location for shop but Suzanne never want to set
up the shop. She has just only grown ‘organically’ when she went with the flow. Afterwards, she
started to earn money through business and also saved money for family holiday’s. Apart from
that many customers have demands of fresh vegetables, fruits, bread, cheese and milk etc.
Suzanne Bristow has been established this idea 20 years ago because many consumers were
appreciated the organic products and encourage them to open their own shop. The
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encouragement and appreciation are motivated for implementing new concept in the business
growth or development.
As per interview, it can be identified the different types of drivers that always force to become
successful entrepreneur. Suzanne was inspired with her mother because she was always
conscious about health and prefer to use healthy items. In this way, this innovative idea inspired
to the Suzanne and established own enterprises. Nowadays, it is becoming important for young
people to use health products so that it has increased the sales of item in global marketplace. On
the other hand, Education background helps people to understand the criterial of business
establishment, Suzanne Bristow possess knowledge about the enterprise and management so that
it helps for implementing the new ideas. She also learns different things and uses the customer
services to interact with the client. It was the better option for Suzanne to identify the need and
requirement of people (Campbell, 2019). According to interview, it can be understood that there
are some specific goals of entrepreneur within enterprise environment for providing the best
quality of product and services. Furthermore, Suzanne Bristow had been selected the staff
members of business that can perform different operations and functions. Each employee is
performing specific role to handle the functionality of task. They have capabilities to interact
with the client and serve the best quality of products.
As per analysis, Suzanne had acquired the funds for Down to earth enterprise
development when it has generated the remaining funds from the other stakeholders because it is
the most suitable and convenient method for generating funds. It would generate minimum risk
during task execution. Down to Earth is based on the medium scale from that providing organic
item such as vegetables, fruits and satisfying the requirement of client regarding healthy items.
As well as promotion and marketing is required for organization because it helps to increase the
popularity and demand in global marketplace. It has developed the opportunities to generate
income through the organic enterprises. The innovative idea helps to build strong image of firm
within the competitive environment. In this way, it has increased the opportunities in global
world but it was not easy for Suzanne to maintain the position and brand name of company in the
competitive market.
As per examination, Different theoretical framework can be implemented which can utilise for
analysing the enterprises environment and also determines the preferences and taste of
consumers. PESTLE framework applicable to determine the several factors of organization such
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as political, social, economic, technological, environmental and legal factors etc. these factors
are playing important role to manage the working process of Down to earth (Bird, 2019). On the
other hand, it can implement the Porter’s five force Model which always assist for analysing the
competition level of organic product sectors. Suzanne Bristow must use the model to understand
the sustainability of Down to earth. It has been generating the high revenue. It has required to
inspire the employees and providing best facilities for maintaining conflict between them. In
Future, it will create positive culture and environment of organization, everything will run in
smoothly. During interview, it can identify the honesty of Suzanne that always help for her to put
efforts and skill in the business activities (Jones and Barnir, 2019). It is always communicating
with staff members and take his/her opinion related innovative idea. The essential part of
enterprises and individual know that how to deal with the angry consumers and ensure that they
feel happy to buy organic items.
Apart from that being an entrepreneur, there are some strength that always encourage the
Suzanne to implement new ideas, concept for business development. the most important strength
was innovative thinking and never afraid of taking risk. She knew that how to handle the critical
condition and situation in the organization. Therefore, the weakness considered the bad time
management which has created difficulties during the task executions.
Theories of innovation and opportunities in entrepreneurial related the interview
The theory of innovation and opportunities are playing important role for business development
because it helps for giving the brief idea about the innovation and how it can improve the quality
of products and services effectively (Fini, Rasmussen and Wright, 2019). Theories of
opportunities, entrepreneurial and innovations possess the decision process which may assists
organization devoted towards the innovative entrepreneur those who play important role for
enhancing the managerial decisions.
Schumpeter’s theory
This type of theory is based on the innovation with other than investment theories of
business development cycle, which assets to change the policies and procedures, investment
accomplished by expansion. Sometimes, it has been increases the fluctuation in the enterprises.
The innovative idea of organic product enterprise relates to the Schumpeter theory that help for
identifying the different reasons of investment (Jones and Barnir, 2019).
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According to theory, “down to earth” enterprise is exclusively follows the innovation and
changing the method in production of new organic product, transportations etc. Innovation does
not mean to the invention but it refers to the new technology, raw materials, process and
resources etc. this theory has developed the model to understand the enterprise cycle which
emphasis on impact of innovative idea. Suzanne Bristow believe that Schumpeter theory is main
factor of creation or innovation of entrepreneur and knowledge helping the business to maintain
stable position in global marketplace. She believed that there are various processes consist for
development by using equipment’s, resources, input, output and other marketing approaches etc.
Moreover, theory viewed the innovation in the business process along with the proper knowledge
as success of entrepreneurship (Louns, bury and et.al., 2019). Creativity was an essential that can
easily accumulate the profitability and productivity in competitive marketplace.
As per analysis, it can be determined that innovation and creativity are main drivers that
help for expanding the growth of enterprises. It should review the input and output of enterprises
operations after implementing the innovative concepts. Suzanne Bristow entrepreneur inspired
the mother to select the different idea for producing organic product, healthy items are attracted
many consumers those who will consume only organic items (Jones and Barnir, 2019).
Apart from that the Schumpeter theory innovation are suffering the problem because it is
not only difficult but failed to the perform the goals and objectives. It is not different from the
other type of investment theory but differ in the causes of variations occurs during investment.
Hicksian theory of trade cycle
The theory was proposed by the Hicks, who must consider the interaction with the
growth model that combine with the trade cycle of business. This theory is related to the
enterprise of “down to earth” for improving economic growth and development. According to
Hicksian theory, Suzanne Bristow assumed the rate of growth in the economy where it equal to
another natural rate (Schenkel, Farmer and Maslyn, 2019). In this way, it easily estimates the
investment of enterprises, which increases at the constant rate and also equal to the actual rate of
saving. It is based on the assumption which required for medium scale business to do assumption
before start the processes. It helps for identifying the initial input that will calculate the total
estimation of investment.
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Figure 1 Hicksian theory
(Source: Hicksian theory of trade cycle. 2018)
This theory applicable for long term growth that determined by increasing the investment over
time while it found the income growth through different accelerators and multipliers (van Wijk
and et.al., 2019). Suzanne entrepreneur can use theory to assume the autonomous investment
which depending on the progression of modern technology, innovation, growth of populations
etc. it also determines the failure condition through output which increases the growth path and
also move up or down.
Pure Monetary theory
This theory was proposed by Hawtrey according to the changes in the money flow of
business economy that causes the fluctuation at different level. The Pure Monetary theory
become assists the enterprises cycle causes because of the fluctuation occurs in credit markets
and monetary. Pure Monetary theory relate to the “Down to earth” business of organic product
store. It has maximized supply of cash, increase profit rate, increase output and control overall
growth rate. If the money falls, it directly effects on the profit rate, price and actual output of
production (Shepherd and et.al., 2019). Suzanne Bristow entrepreneur can be applied monetary
theory in business, which contributions to the enterprise fluctuation and cannot purely monetary
the process. This factor plays important role in the process of expansion because it can categorise
the turning point but sometimes, it is enough for business growth and development. As per
interview, it has been identified that Suzanne Bristow entrepreneur never want to setup store but
expand their existence in global world. First of all, they can start the business repaying the
existing loan which are not borrowed extra funds regarding inventory purchases.
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CONCLUSION
As per discussion, it concluded that Innovative Entrepreneurship is defined the business that
can implement new idea and concept for increasing the profitability. The ability of entrepreneur
to create innovative products and services according to the demand of global markets. It relies on
the market position themselves to get funding and manage their venture or become successful. it
has been summarised that the Suzanne Bristow entrepreneur that run their own product store in
UK. It has been conducting the interview with the entrepreneur for identifying their idea and
innovation in the business development. Furthermore, it helps for build the understanding in
multiple factors related to the opportunities, innovation and entrepreneurship. It also analyses the
data through interview and examine the findings.
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REFERENCES
Book and Journals
Bird, B., 2019. Toward a theory of entrepreneurial competency. In Seminal Ideas for the Next
Twenty-Five Years of Advances (pp. 115-131). Emerald Publishing Limited.
Campbell, B., 2019. Practice Theory in Action: Empirical Studies of Interaction in Innovation
and Entrepreneurship. Routledge.
Fini, R., Rasmussen, E. and Wright, M., 2019. Theories from the lab: how research on science
commercialization can contribute to management studies. Journal of Management
Studies. 56(5). pp.865-894.
Jones, R.J. and Barnir, A., 2019. Properties of opportunity creation and discovery: Comparing
variation in contexts of innovativeness. Technovation. 79. pp.1-10.
Lounsbury, M. and et.al., 2019. Culture, innovation and entrepreneurship. Innovation. 21(1).
pp.1-12.
Schenkel, M.T., Farmer, S. and Maslyn, J.M., 2019. Process improvement in SMEs: The impact
of harmonious passion for entrepreneurship, employee creative self-efficacy, and time
spent innovating. Journal of Small Business Strategy. 29(1). pp.64-77.
Shepherd, D.A. and et.al., 2019. What are we explaining? A review and agenda on initiating,
engaging, performing, and contextualizing entrepreneurship. Journal of Management.
45(1). pp.159-196.
van Wijk, J. and et.al., 2019. Social innovation: Integrating micro, meso, and macro level
insights from institutional theory. Business & Society. 58(5). pp.887-918.
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Online
Hicksian theory of trade cycle. 2018. [online] Available through:<
http://cdn.economicsdiscussion.net/wp-content/uploads/2015/08/image203.png>
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