Identifying Entrepreneurial Opportunities: Blossom-well Hotel Report

This report provides a comprehensive analysis of entrepreneurial opportunities for the Blossom-well Hotel, a proposed business venture in London, UK. It begins with an introduction to the concept of entrepreneurship and the innovative services offered by the hotel, such as relaxation facilities, music concerts, and unique staying schemes. The report then delves into the identification of different sources of entrepreneurial innovation, drawing on Peter Drucker's seven sources, and explains how these sources can inspire the hotel's innovative services. A key focus is on market gap analysis, employing competitive analysis tools to assess the hotel's position within the market. Furthermore, the report includes a gap analysis using questionnaires to evaluate the potential of the business idea, alongside an interpretation of data to provide evidence of market potential, and a SWOT analysis of the business idea. The report concludes with an analysis of the competitive and market environments. The report provides valuable insights into the business opportunity of the Blossom-well Hotel.

IDENTIFYING
ENTREPRENEURIAL
OPPORTUNITIES

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Different sources of entrepreneurial innovation...................................................................1
TASK 2............................................................................................................................................3
P2. Market gap for a specific entrepreneurial idea using relevant tools.....................................3
TASK 3............................................................................................................................................5
P3. Gap analysis in evaluation of a specific entrepreneurial idea...............................................5
P4. Interpret data appropriately to provide evidence of market potential.................................11
TASK 4..........................................................................................................................................14
P5. SWOT framework for specific entrepreneurial idea...........................................................14
P6. Competitive and market environments analysis of Blossom-well Hotel............................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
An entrepreneur is an individual which develops a new idea and sets up new business
organization to generate profit and bear financial risks in while making profit. This present report
based on Blossom-well Hotel new business idea which is offerings various innovative services
like giving offers like sporting activities, 2+1 staying scheme where staying two exotic nights in
hotels, guest will get one day free day and night stay, delicious food, live music concert and
relaxation facilities, free Wi-Fi to every customer. Along with this, Unique and innovative
product and services which is offered by Blossom-well Hotel will help customers in felling relax
by avoiding their high busy schedule for a time period. In this, present report, different some
sources of entrepreneurial innovation are described with their SWOT analysis (Amit and Zott,
2015). In addition to this, Market gap for a specific entrepreneurial idea are also listed in brief.
At last gap analysis as well as business objective of Blossom-well Hotel is considered to find
feasibility and usefulness of innovative business idea.
TASK 1
P1. Different sources of entrepreneurial innovation.
Entrepreneur refers to a individual, which focuses on taking benefits of new business
opportunities for making profit. Along with this, they identifies threats factor by analysing
market and individual ability to change all possible opportunities into a innovative business idea.
Each and every organization as well as start-ups will give their contribution in
development of country economy. Although, new business ventures make ample of employment
opportunities, along with this they help in GDP growth, infrastructure, per capita income etc. in
regards with present, government of UK encourages youngster towards thought of
entrepreneurship for introducing innovative business idea into business ventures for development
of UK country (Autio and et. al., 2018).
Here, seven sources of innovation is described which is introduced by Peter ducker. By this
Blossom-well Hotel is inspire to launch their new innovative services in London provinces. As it
offers relaxation facilities, music concerts, 2+1 staying scheme, delighted food, free Wi-Fi etc.
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to their every customers. With help of this, management of management of Blossom-well Hotel
can attract more customer and also satisfy customer in best effective way.
Unexpected: This element will help entrepreneur for developing an unexpected business
idea and opportunities that helps entrepreneur to earn profit and possible support form huge
population from competitive marketplace. In current changing market customer taste,
preferences, needs, nature, requirements are rapidly changing. Being an entrepreneur, its
important to analysis consumer taste, nature, demand and preference that will help Blossom-
well Hotel to develop profitable position for business by which Blossom-well Hotel can retain
for long timer period in competitive in market of London UK (Barazandeh and et. al., 2015).
Incongruities: While introducing new business its important to analysis present market
condition. Thus, it helps every entrepreneur to grab best opportunity by analysing needs of
customer form Hotel industries.
Market Structures: With help of this factor, entrepreneur of Blossom-well Hotel aligned
business activities in sequence according to changing needs and requirements of Hotel industry.
Although, it helps in grabbing possible advantage from effective opportunities. By gathering
sufficient and effective knowledge of industry, an entrepreneur of Blossom-well Hotel can
introduce their innovative business idea in London market.
Necessity: According to this factor its necessary for entrepreneur for analysing strength
as well as weakness related to their new business idea. For conducting effective operations an
entrepreneur of Blossom-well Hotel should adopt advance technology for modifying their
innovative idea for satisfying customers. With help of this factor, management of Blossom-well
Hotel can easily identify risks related to introducing new business idea and alos help in achieving
success in competitive market.
Demographics: Entrepreneur should examine changing demographic factor that is
connected to individual income level, age group, gender, tasted, nationality etc. For attaining
growth of business in UK market, it has been analysed that, per capita income of UK is almost
high that benefits to all hotels industry to maximizing profit in upcoming time frame (Block and
Van Praag, M., 2017).
Changes in Perception: In order to get support of public form specific location, its
essential to analyse gap of market and fill it with effective tools and techniques for effectively
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operating business operations according to public culture, ideologies. Thus, it helps entrepreneur
of Blossom-well Hotel for conducting their business functions and operations in proper manner.
New Knowledge: Environment is full of technology which is rapidly changing in fastest
mode. However, for an entrepreneur its important to analysis advance technology on regular
bases. Thus, it helps in enhancing potential of products & services and growth of business along
with this, updated technology will entrepreneur to provides best quality services and also helps in
satisfying customers (Bogers and et. al., 2017).
TASK 2
P2. Market gap for a specific entrepreneurial idea using relevant tools.
In current report, an entrepreneur is doing preparation for introducing a new business idea
for start-up in market of London UK. However this, entrepreneur is focusing on launching a new
hotel Blossom-well that will provide different attractive facilities to customers for retaining in
market of long time period. Such services are relaxation facilities, delicious food and beverages,
free Wi-Fi, music concerts, various entertainment programs, 2+1 staying scheme and many more
activities in order to attract large customer base.
Along with this, entrepreneur of Blossom-well Hotel should fill market gap and
focuses on their offerings, as they serve those necessary products and services that isn't available
in current market. With this, entrepreneur of Blossom-well Hotel can attract large customer base.
Here, market gap and competitive analysis is explained in brief in context to each and every
business idea:
Advance Technology: Nowadays, technology is upgrading rapidly that helps in
development of products and services in minimum time. Thus, it make services and product
outdated in short time (Dabestani and et. al., 2016). Overcoming form these situation,
entrepreneur keep business technologies updated and make profit form new innovative
technologies. Furthermore, entrepreneur should analyse current market situation before offering
their services and product.
Identifying Best Opportunities: Entrepreneur of Blossom-well Hotel should analysed
best market opportunities as well as competitors policies, strategies, ethics, culture, structure and
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also offerings. although, it help entrepreneur of Blossom-well Hotel to think above their
competitors thinking and also helps in reducing market gaps by adopting best techniques.
COMPETITIVE ANALYSIS
Basis Happy Republic Inn
Hotel
Marriott Hotel Four Seasons London
Hotel
Products and
Services
Hotel Inn is providing
accommodation, variety
in foods and beverages,
free Wi-Fi, swimming
pools with healthy
environment etc. in
order to larger customer
base to spend long time
in their Hotel.
Marriott Hotel offers
unique experience to
customers, that includes
rooms which is full
equipped with attractive
and excellent innovative
infrastructure with best
quality of services.
Four Seasons London
offers different services
to customers such as
accommodation, food
and beverages with high
quality of innovative
services (Deresiewicz,
2015)
Organization
structure
Hotel Inn has adopted
functional structure.
Departmental structure is
followed by Marriott hotel
is following departmental
structure.
Management of Four
Seasons London Hotel is
following Matrix
organizational structure.
Major
Attractions
Hotel Inn major
attraction is customer
approach. As hotel
offers variety of food,
free Wi-Fi facility in
charismatic ambience.
Thus it attracts and
influence them to spend
more time in hotel.
Marriott has numbers of
attraction in their offerings
like high quality rooms
services, delicious food and
their multitasking staff
which is very enthusiastic
towards work and friendly
with their each client. As it
helps in attracting more
clients.
Four Seasons London
major attractions is
fabulous services with
multi cuisine food with
entertaining environment
(Grayson and Hodges,
2017).
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Promotional
strategy
Hotel promote their
offerings with help of
advertisement on
televisions, radios, local
newspapers, radios,
hoardings, distribution
of pamphlets and many
more marketing tools.
Marriott hotel has adopted
various marketing strategy
for promotion. Such as
official web-sites, social
media platform, ads on
mobile applications, and
also different extension of
advertising channels
(Venkataraman, 2019).
This Hotel focuses on
serving high quality
services to every
customers for attaining
name and frame in
market by mouth
publicity. They also use
social media for
marketing of their
services.
TASK 3
P3. Gap analysis in evaluation of a specific entrepreneurial idea.
Gap analysis is defined as strategic tool which helps an entrepreneur to identify and fill up
distance as well as market gap between organizational target and deductible results. Entrepreneur
of Blossom-well Hotel should focuses on reducing all gap which are connected with business
profit, productivity of human resources, gap of production, market gap, product gap in market of
London (Hansen and Shrader, 2016) .
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QUESTIONNAIRE
NAME:
AGE:
ADDRESS:
GENDER:
E-MAIL ID:
Q1) According to you, product and services offered by Blossom-well Hotel are unique and
innovative in nature?
 Yes
 No
Q2) Which facility of Blossom-well Hotel could attract more customers towards their
accommodation?
 Fast Food Range
 Entertainment Options
 Free Wi-Fi
 2+1 staying scheme
Q3) Through which entrepreneur of Blossom-well can attracts more customers?
 Social media
 Advertisement in local news paper
 Hoardings and banners
Q4) Are you satisfied with customer service of Blossom-well Hotel ?
 Yes
 No
Q5) Give some suggestions to enhance Blossom-well Hotel Hotel services.
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Theme 1: Products and services of Blossom-well Hotel are innovative or not.
Q1) According to you, product and services offered by Blossom-well Hotel
are unique and innovative in nature?
Frequency
a) Yes 25
b) No 5
7
25
5
a) Yes
b) No

Theme 2: Blossom-well Hotel facilitates which attracts customer's.
Q2) Which facility of Blossom-well Hotel could attract more customers
towards their accommodation?
Frequency
 Fast Food Range 6
 2 +1 staying scheme 12
 Free Wi-Fi 7
 Entertainment options 2
8
6
5
7
12
Fast Food Range
Entertainment Options
Free Wi-Fi
2+1 staying scheme

Theme 3: Ways for attracting more customers towards offerings of Blossom-well Hotel?
Q3) Through which entrepreneur of Blossom-well can attracts more
customers towards their offerings?
Frequency
 Social media 13
 Advertisement in local news paper 10
 Hoardings and banners 7
9
13
10
7
Social media
Advertisement in local news paper
Hoardings and banners

Theme 4: Consumers are pleased by services of Blossom-well Hotel.
Q4) Are you satisfied with customer service of Blossom-well Hotel ? Frequency
a) Yes 28
b) No 2
10
28
2
a) Yes
b) No

P4. Interpret data appropriately to provide evidence of market potential.
For gain benefits form various bysiness opportunities, an entrepreneur should gather
infromation and sufficent data form various for research on market. Although, with help of data
and information entrepreneur has analysed whole market of London, UK in effective manner
(Karimi and et. al., 2016).
In addition to Blossom-well Hotel, an entrepreneur is offereing different services which
atracts huge customer form overall country like delisious food, relaxation facilities, free Wi-Fi
facalities, 2+1 staying cheme, music concerts and many more services.
Interpretation of above data:
Theme 1: Products and services of Blossom-well Hotel are innovative or not.
Central Tendency Data
Mean 15
Median 15
Mode 0
Standard Deviation 14.14
Interpretation 1: From above pie chart, it is analysed offerings of Blossom-well Hotel is
well unique and innovative in nature by which entrepreneur can attract ample of customer form
overall region.
Theme 2: Blossom-well Hotel facilitates which attracts customer's.
Central Tendency Data
Mean 10
Median 10
Mode 10
Standard Deviation 5
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Interpretation 2: According to above drawn pie chart, most of customers attracts
towards Blossom-well Hotel due to 2 +1 staying scheme as they are getting one day free staying
and they alos want to explore more places. Thus, such offerings will help management for
attracting more customers in order to increase profitability for Blossom-well Hotel.
Theme 3: Ways for attracting more customers towards offerings of Blossom-well Hotel?
Central Tendency Data
Mean 15
Median 15
Mode 0
Standard Deviation 14.14
Interpretation 3: According to above pie chart, it has been analysed that with help of
social media tool Blossom-well Hotel can attract large customer base. As nowadays numbers of
people is using social media platform for making connections with people. Thus, management
can create profitable customer base for their business.
Theme 4: Consumers are pleased by services of Blossom-well Hotel.
Central Tendency Data
Mean 15
Median 15
Mode 0
Standard Deviation 14.14214
Interpretation 4: According to graph, it has been interpreated that, most of customers
are fully satisfied with unique and innovative offerings of products and services by Blossom-well
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Hotel. In addition to this, management should alos adopt different effective opportunities for
attracting more customer.
GAP ANALYSIS
Basis Current condition Desired condition Action plan
Products &
Services
Currently, hotel is
offering semi
infrastructure rooms and
also lacking in some
facilities (Welter and
Alvarez, 2015).
Currently Blossom-well is
attracting their potential
customer by providing, 2+1
staying scheme, delicious
facilities, free Wi-Fi,
relaxation activities and
many more.
By offering best quality
and attractive services to
every guest. Focusing on
satisfying customer
which will build brand
image in market.
Cost
Improper and Ineffective
room services, Out-of-
the-way management,
less facilities offering to
customer.
Developing best innovative
tactics, policies for effective
management and business
operations. Also formulating
strategies in order to balance
price range with competitors.
By offering attractive
services with effective
techniques related to
pricing, management,
operations. Along with
this, focusing on
attracting potential
customer for retaining in
market.
Innovation
Blossom-well is offers
various for attracting
customer. Such services
are relaxation activities,
music concert, 2+1
staying schemes, free
Wi-Fi, delicious food,
sporting activities and
Management of Blossom-
well Hotel is grabbing
effective benefits from new
innovative approaches for
sustain in market of London
for longer time period
(Kohlbacher and Levsen,
Management of Blossom-
well has adopted
customer centric
approach for attracting
more customer. Also they
are taking timely
feedback and suggestions
from customers for
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many more. 2015). improvement with help of
innovative trend.
Business objectives of Blossom-Well Hotel
Objectives Strategies
To build loyalty amongst
customer by offering
satisfaction to customer.
 By giving attractive offers like 2+1 staying schemes.
 By providing relaxation activities, free Wi-Fi, delicious
food, sporting activities, Music concerts.
 By adopting customer centric approach for increasing
potential consumer base.
Sustainability of business
 By taking suggestions and feedbacks from consumers for
improvements.
 By adoption of advance technologies for business
operations.
 By providing best quality services to each and every
customers.
TASK 4
P5. SWOT framework for specific entrepreneurial idea.
For introducing new business idea entrepreneur should analysis market for finding
strength, weakness, opportunities as well as threat for their business and then entrepreneur
should conduct their business operations in market of London, UK (Kotler and et. al., 2015).
Entrepreneur has adopt SWOT analysis approach for analysing market, here swot is conducted in
regards with Blossom-well Hotel:
Strength Weakness
Blossom-well Hotel offerings are related with
necessary services that are required on gaily
bases. Like delicious food, relaxation, free
Wi-Fi, accommodation, sporting activities
Entrepreneur of Blossom-well Hotel has
selected position for business operations as
London, UK. Thus, London is world’s most
expensive area where resources are available at
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etc.. By number of offerings hotel can attract
huge customers and retain them for long
hours. Thus, hotel gain more advantages
compared with competitors present in
London.
higher cost which is not beneficial for their
business (Lavoie, 2015).
Opportunities Threat
Entrepreneur of Blossom-well Hotel should
continuously analyse needs and requirements
of society of London and then offer services
with their necessitate for gaining more
benefits form market.
Entrepreneur of Blossom-well Hotel can face
threat in business while entering in market like
prices of competitor's prices, increase in
operating cost, technology advancement, human
resource, machines etc.
P6. Competitive and market environments analysis of Blossom-well Hotel.
In order to launch, Blossom-well Hotel in market of London, UK (Levine and Rubinstein,
2017). Entrepreneur should focus on analysing current condition of market area for satisfying
customers in effective way:
Analysis of competitive Market: Analysing internal and external environment of business will
helps in udentifying strength and weakness for organization. Furthermore, it help entrepreneur to
formulate best effective policies and practices with advance techniques. Thus, management of
Blossom-well Hotel has adopted PORTER FIVE FORCE MODEL for analysing their business
environment.
* Competition within Industry: Entrepreneur of Blossom-well Hotel is facting high
competition threat from Hilton, Marriott, Hilton and Four Seasons hotel etc. Thus, its essential
for entrepreneur for formulating best strategies for their business for attracting more and more
customers.
* Threat of New Entrants is low due to huge investment of finance and various resources
is high. Hence, it reduces threat for Blossom-well Hotel they can easily acquier customer centric
approach for grabbing numbers of customers towards their attractive offerings.
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* There are many alternatives for hotels, as Threat of Substitutes is high. As every
customer looks minimum price services with high quality. Therefore, entrepreneur should
provide best offering to their customer as it helps in building brand value and image. Along with
this they keep update technology in their business for effective serving of services (Park and Im,
2017).
* Bargaining Power of Buyers is absolutely high due to presence of choices in market.
So, customer looked for best services with minimum prices. Hence, entrepreneur can grab
customer by adopting low cost strategies in their business.
* Suppliers Bargaining Power is low due to larger number of supplier, as hotel can easily
switch to other party. Thus, Blossom-well Hotel entrepreneur has adopted innovative strategies
for sustaining in market for long-term.
Environment Analysis: Environment of Blossom-well Hotel is analysis with PEST approach.
Macro Environment: This environment deals with external factor of business
environment. Here some factors are described below:
Political: The UK government has formulated different legalisation, taxation policies,
rules & regulations etc. for hotel industry. Thus, its very necessary for Blossom-well Hotel to
follow all laws and policies in their Blossom-well Hotel for effective working and to save from
political threats (Sastre‐Castillo and et. al., 2015).
Economical: Entrepreneur of Blossom-well Hotel can grab numbers of avantage form
various economic factor like, inflation and deflation rates, pricing policies in order to gain
effective benefits form market.
Social: By considering society culture, ethics, norms, values and customer satisfaction,
entrepreneur of Blossom-well Hotel can effective operate their business operations effectively in
society.
Technological: Entrepreneur of Blossom-well Hotel should adopt apgraded technology
for gaining profitable advantages. However, they initiate online booking of services in order to
attract more customer (Suddaby and Si, 2015).
Micro Environment: This environment factor deals with internal elements, such as
organization structure, culture, ethics, values, practices, strategies and employees.
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CONCLUSION
From above discussed report it is analysed that, entrepreneur can take many advantages
form different best opportunities and starts a new business for gaining profit. In this, report
entrepreneur has started a new business in hotel industry naming Blossom-well Hotel, which is
providing various attractive services to their customer's. Along with this, some sources of
entrepreneurial innovation with its Market gap is described. Entrepreneur has also examine Gap
analysis and developed profitable objectives of their Hotel. In addition with this, SWOT
approach is also adopted by entrepreneur for analysing strength, weaknesses, threat and
opportunities of new business for increasing profitability. Lastly, entrepreneur has analysed
competitive market and business environments of Blossom-well Hotel for effective working sin
effective manner.
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