Opportunity, Innovation, and Entrepreneurship Project with Report

This project report focuses on opportunity, innovation, and entrepreneurship within the fashion industry. It includes a visual infographic and a research diary analyzing market trends, specifically the impact of technology, sustainability, and digital marketing. The report identifies entrepreneurial business opportunities arising from these trends and justifies a proposed new venture, highlighting the importance of sustainability and digital integration for future growth. The research diary details key trends in the fashion market, emphasizing the need for businesses to adapt to evolving customer preferences and technological advancements. The conclusion emphasizes the dynamic nature of the business environment and the necessity of continuous market research to identify new opportunities and innovate effectively. Desklib provides students access to similar solved assignments and past papers.

Opportunity,
innovation and
entrepreneurship

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Visual Infographic.......................................................................................................................3
Research diary.............................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES:...............................................................................................................................8
Books and Journals.....................................................................................................................8

INTRODUCTION
The business environment is dynamic and keeps on changing. It is important for a
business organisation to carry on research of the market so that they are able to operate
effectively (Farinha, Ferreira and Nunes, 2018). In this report a new venture is formulated
according to the trends in fashion industry. The detailed analysis of the new business is part of
this report and shown in the form of infographic. In the end of this report, there is research diary
that includes the key trends in the market and the analysis of idea being derived.
MAIN BODY
Visual Infographic

Research diary
The fashion industry is one of the fastest growing industry. There are regular innovations
being observed in the industry and helps to attract the customers. The evaluation of key trends in
fashion industry are mentioned below:
Fashion consumption will continue to evolve driven by technology and innovation
Fashion industry is a customer focused market that works to satisfy the desires of the
customers. People nowadays are ready to spend money on the clothes that are trendy. There is
regular innovation being noticed in fashion industry. The option of digitalisation has enhanced
the convenience of the customers. The use of digital marketing helps the customers to know
about the trend going on in market effectively. They are able to look at the variety available by
sitting at their homes (Saji and Nair, 2018). The customers are also willing to shop online and get
the products delivered at their door step. The brands also make vast variety of products available
for the customers and provide them ample amount of options. Also, the use of latest technology
is necessary for the company and it helps in carrying on the operations properly (Reuschke,
Mason and Syrett, 2022). The companies in the fashion industry are able to track their
performance by use of digital tools.
Digital marketing is also important for the company. The use of digital platforms make
the company more efficient. They are able to reach more and more customers. The digital

platforms include social media marketing, content marketing, search engine optimisation, e-mail
marketing, etc. All these platforms help the company to enhance their sales and profitability
position of the company.
Sustainability will be the main pillar of future growth
Sustainability is one of the important concept that plays a major role in fashion industry.
It is important to use the resources in effective manner to maintain ecological balance (Mota,
Braga and Ratten, 2019). There is need for all the firms to understand the concept of
sustainability. It can be defined as change in fashion industry and helps the firms to work
towards greater ecological integrity and social justice. It is necessary for the business firms to
start reaching the target zero-emission and keep the environment safe and secure. The
organisations must avoid the use of plastic and make their procurement process sustainable. It is
important to focus on the society and the trends being followed so that they are able to attain
success. It is important to work towards ecological integrity and social justice that makes
concerned about the use of right products (Cervelló-Royo and et.al., 2020). There is need of
taking right steps towards sustainability that will help them to achieve good position in future.
There is importance of recycling and reuse that must be considered by the business organisations
to bring in sustainability. There is also requirement of manufacturing quality clothes that helps to
satisfy the requirement of the customers. By reducing and minimising wastage of resources the
company is able to manage their work effectively.

CONCLUSION
From the above report, it is concluded that marketing environment is dynamic. By
analysing the trends in the market the company is able to get new and innovative idea. There
must be research related to latest trends in market so that new opportunities can be derived
effectively. The plan related to products and services of the company and latest trends is being
analysed and mentioned.

REFERENCES:
Books and Journals
Cervelló-Royo, R and et.al., 2020. Sustainable development, economic and financial factors, that
influence the opportunity-driven entrepreneurship. An fsQCA approach. Journal of
Business Research, 115, pp.393-402.
Farinha, L., Ferreira, J.J. and Nunes, S., 2018. Linking innovation and entrepreneurship to
economic growth. Competitiveness Review: An International Business Journal.
Mota, A., Braga, V. and Ratten, V., 2019. Entrepreneurship motivation: Opportunity and
necessity. In Sustainable entrepreneurship (pp. 139-165). Springer, Cham.
Reuschke, D., Mason, C. and Syrett, S., 2022. Digital futures of small businesses and
entrepreneurial opportunity. Futures, 135, p.102877.
Saji, B.S. and Nair, A.R., 2018. Effectiveness of innovation and entrepreneurship education in
UAE higher education. Academy of Strategic Management Journal, 17(4), pp.1-12.