UGB234: Managing Entrepreneurship - Business Plan and Analysis Report

This report, focused on managing entrepreneurship, begins with an introduction to entrepreneurial skills and qualities, emphasizing the importance of creativity, self-confidence, perseverance, empathy, risk-taking, problem-solving, listening skills, and willingness to learn. It then explores social entrepreneurship, defining its role in addressing societal issues. The report includes a business plan for launching organic beauty products, supported by market research which includes secondary research on the increasing demand for organic products due to rising skin diseases, and primary research analyzing competitors like L’Oreal and Unilever. The report also details the target market, customer segmentation, targeting, and positioning using the STP framework, followed by a comprehensive marketing plan with a focus on product, pricing (skimming), place (domestic market), and promotion (social media and newspaper advertising). The report concludes with an overview of human resource requirements, including staffing for both production and retail operations.

UGB234 Managing Entrepreneurship

Table of Contents
TASK 1 INTRODUCTION.............................................................................................................3
TASK 2-...........................................................................................................................................3
Option E..................................................................................................................................3
Task 3...............................................................................................................................................5
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

TASK 1 INTRODUCTION
Entrepreneurial means having abilities and capabilities that are required to succeed as a
businessman. It defines as abilities that an individual have to manage a venture and taking
financial risks in hopes of making profitability. I am an entrepreneurial and managing my small
business with few workers who have appropriate skills, abilities and knowledge. As a
Businessman I have many qualities which I can use to do some creativity within existing
products or services produced especially for target consumers. I am coming from well educated
family background and positive environment where everyone has different and innovative points
of views about business. My family was also entrepreneurial, we are managing out family
business successfully and show some creativity within it by making key changes in goods or
services that help to gain attention of new buyers and also aid to retain exiting one for longer
period of time. Furthermore, in this module in form of pre-entrepreneurial skills creativity,
empathy, self confidence, Perseverance as attributes I am bringing. Risk taking, use of
technology, resource handling, willingness to learn, ambition and ability to listen are also
included in list of pre-entrepreneurial attributes or skills.
TASK 2-
Option E
Social entrepreneur is a individual who pursues novel applications that have power to
solve society based issues and revert their concerns (Dickel and Eckardt, 2020). These persons
are highly willing to take on attempts and risk to develop positive modification in community
through his or her initiatives, which is really very important to do. People who known as social
entrepreneur are interested in beginning a venture for great social well fare and not just for own
benefits in term of increasing profitability and productivity.
An entrepreneur has some skills, abilities, qualities and characteristics which provide a
lot of benefits to his or her career either personal or professional. With appropriate traits and
skills, social entrepreneur obtain several advantages (Martínez, Bañón and Laviada, 2019). They
have 8 different types of traits such as creativity. When a person produce similar things, without
making any changes within current items and services offered to customers, it will never
entertain people and allows social entrepreneur to obtain desire outcomes. When He or she is a
creative person; they have ability to think differently, to search innovative and creative solutions
where others do not saw any modification possible is a gigantic ability to lead a social business.

It can be said that, this trait is associated with openness to inspiration, impulsivity, inspiration,
great experience, critical thinking, conscientiousness, hyperactivity and precision all working
together in tandem. As a personality characteristic it influenced appropriately by several aspects
of life. Creativity as ability can help social entrepreneurs to think about a issue of local people in
different manner that help to overcome situation in effective manner.
Self confidence is another trait of social business man that permit them to follow their
intuition and develop effective solutions so many others in same sector did not dare to attempt.
This is a key of growth and long term success elements for social entrepreneurs. To be that kind
of person is to impulse change. An individual needs to have self confident which allow them to
deal with any situations (Bernardino, Santos and Ribeiro, 2018). It can be defined as attitude
about own abilities and knowledge that help social entrepreneur to solve other issues and give
strength or power to handle every situation in order to obtain desire results in term of building
community. Where people’s are free from fear and threat of other political decisions and
negative use of power. Self confidence is second trait of social business man which allow him or
her to trust themselves about problems solving and understanding the pain and concern of other
towards family and personal life.
Perseverance is the best quality or trait of social entrepreneur, which make them able to
never give up at any condition. To be a social business man is to attempt harder than others and
do a lot of efforts to give more than assumption. Most entrepreneurs have suffered from failure
and distressing defeats that can hinder them to get success and restrict to achieve set goals in
positive manner.
Empathy, is the most important and common traits of social entrepreneur which make
them capable to solve other issues by working in context of society benefits.
Risk taking- risk in business can be described as change of loss or failure in achieving
success and goals. In context of this thing, risk taking ability or skill work magically as it help to
manage risk and allow deal with complex situation that can put negative impact on sales and
profitability of venture. It can be considered as non consciously or intentionally controlled nature
of a person with perceived uncertainty about desire results. This trait provides a lot of benefits in
term of managing operational and functional activities of ventures in positive manner.
Problem solving- along with above traits, this trait of social businessman or women help
in different terms for example it aid to determine needs of people and make person able to solve

their issues which in return improve living standards of local people even better. It is appropriate
act of defining a specific issue; identify reason behind residential people problem and ability to
find out the best approaches or solutions to overcome these. It is quite beneficial skill that social
entrepreneur have and use for social well fare in effective manner.
Ability to listen- effective listening is the best trait that permit social entrepreneur to
understand other problems and search innovative ideas in regard to it. It is capability to
appropriately obtain and interpret key message in communication procedure. It can be recognize
as essential tool of business man which is beneficial in several terms like to satisfy people and
motivate them by listening and helping to overcome negative aspects. With this ability a person
can build trust and strong relation with other people who could not be able to manage their lives
and needs right suggestions.
Willingness to learn- this an important attribute of social entrepreneur that help them get
on in life, whether professionally or personally. These types of people are able to learn new
things and get experience from other activities which they can use in context of social well being
and improve life of others in effective manner. this ability allow a person to experience new
thing and develop skills that further will use to obtain desire outcomes.
Task 3
Organization is looking to bring the organic beauty product as new product of the
company in the market. Reason behind choosing the same is that there is good sort of need of the
same in the market this ultimately open up well sort of the opportunity for the firm in the long
run. As it has been identified that there are good sort of skin diseases are increases in the UK,
this is forcing all customer to look for organic product so that impact of the same can be reduced
in the best way in the organization.
Objective
To increase the sales of the company by enhancing product line of the company in coming 1
months
To enhance product awareness in the market with the help of bringing new and required product
in the market in coming 2 year
Market Research

Secondary Research
After going through article of (Išoraitė, 2016) has been analysed that there are increasing number
of skin disease issue which are faced by different individual in the market. Reason behind the
same is identified is infection from variety of different substance which are applied by different
individual. For the same reason individual in the market used to look for organic product in the
market hence there is good demand of organic or herbal beauty product in the organization. On
the same point (Wu and Li, 2018) has clearly identified that there are number of different
competitor who generally offers the same type of beauty product in the market. Hence there is
good amount of competition in the market so organization has to make sure that they invest good
resources in the market.
Primary Research
Some of the main competitors which are there in the market are as follows:
Competitor Name Strength/Weakness Pricing Product
L’Oreal Strength of the
company in the
market is financial
position. At the same
time weakness is
profit margin of
company is low.
Competition based
pricing method
Product line is good
but not that wider as
compare to Unilever.
Unilever Product line of the
company is strength
of company. Quality
of product is not that
proficient.
Cost plus pricing
method
Product line of the
company is very
broader and wider as
compare to other
Estee Lauder Goodwill is the
biggest strength of the
company. Profit
margin of the
company is biggest
issue for company.
High Low pricing
method
Product line of the
company is not that
good as compare to
other.

(*Primary data in the research has been collected by the way of observation and survey
conducted in the market)
Target Market and Customer
Target market and customer are selected in the organization on the basis of STP framework in
the market. STP framework is as follows:
Segmentation: Segmentation is the stage in which different group of the customer will be divided
on the basis of different characteristic of customer in the market (Tran, 2020). It has been
identified that for the current project age of the customer is the main characteristic which has
been selected by the organization
Targetation: It is the second stage in which organization used to decide the best segment which
can be targeted by the company in the long run. For the current project company will be looking
to target teen customer women who belong to the age group of 12- 32 year age group in general.
Positioning: It is the last stage in which it is decided how the product of the company will be
presented in front of the other. This product will be positioned with the help of social media as
well as newspaper advertisement as well.
Marketing
Marketing plan of the company is explain with the help of the 4 Ps marketing mix of the
company
Product: Company will be offering the beauty product which will be having the organic
touch in them, reason behind choosing the same is that there is good sort of demand of organic
product due to increase in number of skin disease issue in the market in a long run.
Price: For current project of the company organization will be following the screaming price
method in the organization. Screaming pricing method is the type of pricing method in the
organization in which price of the product will be kept low in the initial stage and after seeing the
result in regards of the same from the market organization will be planning to restructure the
pricing scheme of the company in the long run.
Place: Product of the company will be sold in the domestic market in the starting stage and
on the basis of seeing the result in the domestic market variety of different decision will be taken
in regards of expanding the same or not in the market (George, 2017).

Promotion: To promote the product of the company in the market two type of promotional
tool will be used in the market.. Social media marketing and newspaper advertisement are two
sort of the promotional tool which will be used to promote the product of the company in the
market in long run.
Human resource
Human resource in the organization will be requires in two different batches. 40 human
resources will be required in the factory where product of the company will be produced. At the
same time 10 Human resources individual will be requires in the store from where different
product of the company will be marketed in the organization.
Operation
Business model canvas
 Purpose: Purpose of the business is to increase the sales of the company by offering the product in the
market which is required by different customer in the market
 Customer: Teen women customers within the age group of 12-32 are the targeted customer base of the
company in the long run.
 Channel and Customer relationship: Primary or direst channel which will be used in the organization to
deliver the product or maintain the relationship with the customer in the market.
 Key Resources: Human resources, Raw material and machinery are few important sort of resources of the
company in market.
 Packaging: Packaging of the product will be in the way that there are two coverage covering, primary
packaging and secondary packaging will able to packaged the product of the company in the market.
Legal issues-
Legal problems or issue of law is a legal question which is foundation of a study. It needs
a courts’ judgment and refer to point on which evidence is undisputed, result of which rely on
interpretation of regulation. Data privacy, data collection, advertising and intellectual property
problems as included in this category that direct impact on success and outcomes of marketing
place as well as also impact on product image in market where company decide to launch it. Data
privacy as legal issue affect overall marketing tactics and methods in negative manner when
management do not protect gathered information about customers, workers and business at save
place with strong password. It may consider simplistic to point out that before marketers can
send marketing message or emails, they need to gather contact information of individual or target

market. Without taking approval from others, marketers and research & development department
do not take accessible and private information. They must comply with all regulatory and legal
requirements.
Financial-
In order to get success and achieve set objectives, management do a lot of attempts and
hard work and apply methods as well, which require money. Without setting appropriate budget
for particular thing, organization would not be able to get success. To achieve set objectives and
aims of marketing plan, which is developed for launching new organic beauty product,
organization needs to have good investment and financial budget.
Resources Cost £
Human resource 250
Market analysis 300
Raw material 400
Production equipments 450
Website development 200
Paid advertisement 230
Training 290
Technology implementation 330
Total 2450
All above resources are useful and needed to convert new business idea into final product
that can be deliver to target market. Management needs to consider all these things and make
arrangements accordingly which is really very essential for business and brand image in
marketplace. Financial means connecting to or including money that play important role in
marketing plan.
Risks, contingency and exist strategies-
While managing and handling a business or marketing plan an company deal with varied
types of risk such as operation, human resource, legal and schedule risks that negatively impact
on final outcomes of marketing plan and put allot of pressure on management to handle it as
soon as possible. For example, operational risks include risk from poor procedure issues and
implementation such as production, procurement, technology, supply chain and distribution.
When production department without considering the needs of target market start producing
product, it consider in category of risk that directly impact on profitability and sales of business
as well as their brand image in market. Human resource risk also impact on overall marketing

plan and at last on its result. For instance, when workers do not coordinate with each other they
cannot be able to identify each other needs and share information about current project, which is
not suitable and appropriate for above marketing plan.
Other problems-
Poor management, lack of human resource and lack of financial budget are other issues
that company can face while manufacturing and marketing new organic beauty product in target
market in front of selected consumers. When human resource department do not hire people
according to the requirement of work it also convert into an issue that affect current plan and
does not allow manager to get desire outcomes.
CONCLUSION
By summing up above discussion, it has been concluded that traits of social entrepreneur
playing vital role in his or her life, it makes them more stronger than before in context of
managing social venture for longer period of time. Furthermore, it has been defined that a
journey of entrepreneurial is like a climbing a mountain because it has same barriers in success.
This study has been explained marketing plan in regards to organic beauty products as new
business idea. Moreover, it has been summarized that risk taking, problem solving, learning,
listening and other traits allow social entrepreneur to help other who needs supports and focus of
well developed persons who improved their life standards in ethical manner without making any
differences. It has been identified that all traits and attributed to social business women or man
permitted them to give smile on face of local people who wants satisfaction and relief in their
lives for longer period of time.

REFERENCES
Book and Journals
Bernardino, S., Santos, J.F. and Ribeiro, J.C., 2018. Social entrepreneur and gender: what’s
personality got to do with it?. International journal of gender and entrepreneurship.
Campbell, H and et.al., 2018. Can We Learn from Our Mistakes? Introduction/Lessons Learned
from Implementing Two Programs to Develop More Infrastructure Projects in
Asia/Who Does the Agent of Change Represent? Stardom vs. Ownership/Learning from
Mistakes/Mistakes, Errors and Possible Failures/Discerning Demography and
Economy/Can a Planning and Land Use Lawyer Learn from Past Mistakes?/On
Subjective Processes and the Limiting of Enquiry/Afterword: Abiding Challenges of
Deliberative Practice. Planning Theory & Practice. 19(3). 425-446.
Chin, J., Callaghan, V. and Allouch, S.B., 2019. The Internet-of-Things: Reflections on the past,
present and future from a user-centered and smart environment perspective. Journal of
Ambient Intelligence and Smart Environments. 11(1). pp.45-69.
Dickel, P. and Eckardt, G., 2020. Who wants to be a social entrepreneur? The role of gender and
sustainability orientation. Journal of Small Business Management. pp.1-23.
George, T., 2017. Role of Customer IQ in Product Innovation. Journal of Research in
Administrative Sciences (ISSN: 2664-2433), 6(1), pp.17-23.
Išoraitė, M., 2016. Marketing mix theoretical aspects.International journal of research
granthaalayah. 4(6). pp.25-37.
Martínez, C.N., Bañón, A.R. and Laviada, A.F., 2019. Social entrepreneur: same or different
from the rest?. VOLUNTAS: International Journal of Voluntary and Nonprofit
Organizations. 30(3). pp.443-459.
Rossignoli, C., Ricciardi, F. and Bonomi, S., 2018. Organizing for commons-enabling decision-
making under conflicting institutional logics in social entrepreneurship. Group Decision
and Negotiation. 27(3). pp.417-443.
Tran, A. N., 2020. CREATING CUSTOMER-CENTRIC EXPERIENCES: Winter Activity for
Chinese Tourists in Rovaniemi.
Wry, T. and York, J.G., 2017. An identity-based approach to social enterprise. Academy of
Management Review. 42(3). pp.437-460.
Wu, Y. L. and Li, E. Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce. Internet Research.

CV
Name- John Smith
Address- B, 54 Bukimgum street
Mobile number- 225648545875
Email id- [e-mail]
Skills-
 Applicant have good communication skill
 Active listening
 Critical thinking
Abilities-
 Ability to solve other issues
 Capability to take risk
 Ability to understand other point of views
Knowledge-
 Person have good knowledge about the latest technologies
 Knowledge relate to IT
Education-
 MBA in management
 Bachelors degree
Hobbies-
 Reading books
 Listening music
 Writing novels
 Cooking