Managing Entrepreneurship Report: Social Enterprise and Concept Plan

This report delves into the principles of managing entrepreneurship, using the case of Denisa's Nails, a UK-based start-up, as a practical example. It explores the concept of social entrepreneurship, identifying motivations for establishing such ventures and discussing how they can contribute to addressing social issues. The report analyzes Denisa's Nails' concept plan, covering business opportunities, market research, target markets, marketing strategies (including the marketing mix), operational considerations, and human resource management. The report also examines the importance of understanding the target market, value proposition, and customer segments. Overall, the report offers a comprehensive overview of entrepreneurial practices and strategic planning for new ventures.

Managing
Entrepreneurship

Table of Contents
Introduction......................................................................................................................................3
Task 2 - .......................................................................................................................................4
Social entrepreneurship and various motivations that supports in setting up a social enterprise 4
Task – 3 .......................................................................................................................................6
Concept Plan................................................................................................................................6
Conclusion.....................................................................................................................................11
REFERENCES..............................................................................................................................12

Introduction
Managing entrepreneurship is the practice of acquiring knowledge of entrepreneurial and using
it for maximizing the effectiveness of small and medium-sized businesses as well as new
business ventures. Denisa's nails is a new start-up in U.K. Entrepreneurship is essential because
it has the capability to improve living standards and make income. This report discusses the
theme of society that needs social entrepreneurship and recognizes the motivations which
support to set up a social enterprise. It also discusses the structure concept plan of Denisa's nails.

Task 2 -
Social entrepreneurship and various motivations that supports in setting up a social enterprise
Social entrepreneurship is all about identifying the social issues and acquiring a social
modifications by employing processes, principles and operations of entrepreneurial (Kimmitt and
Muñoz, 2018). It is the collaboration of commerce with and basic level of doing business for
social cause. Denisa's nail salon launches its new venture by applying risk taking and innovative
approaches that includes inventing totally new services related to beauty n grooming services.
Social entrepreneurs supports entrepreneurs in addressing the environmental problems in
innovative way. It is a worldwide revolution that is not only concerned for earning profits.
Success is also described by how Denisa's nails business improves the society. Unlike being in a
non-profit sector, social entrepreneurship does not include measuring success in terms of earning
profit. They mainly keep focus on measuring its entire performance in profit or return in the
terms of monetary. Denisa's nail salon create and implement different innovative, effective
services related to nails, and sustainable solutions to fight against the nails problems that are
challenging communities in the Glasgow. Social entrepreneurship is the business for social cause
by keep its general interest on the top of economic performance. It focuses on making
environmental change while moving towards profitability. Its characteristics are to acquire large
scale social change (Rawhouser, Cummings and Newbert, 2019). Social entrepreneurship utilizes
its business to offer new concepts and ideas for wide scale environmental impacts (Dwivedi and
Weerawardena, 2018). Social entrepreneurs also present ideas that are easily understandable,
ethical and engages support worldwide. It focuses on the ecological change that is helpful in the
modifications and innovations to solve social issues. Social entrepreneurs in Denisa's nail salon
always utilize feedback system to adapt & refine their improvements. Social entrepreneurs
always seek imbalances of services and products that are unavailable. People often get attracted
to social enterprise business which use model of social entrepreneurship because they are
supporting community in solving problems when they spend their valuable money on something
they need. Social entrepreneurship of Denisa's nails is a new formula for achieving success,
collaborating capitalism with a mentality of doing good for the people of Glasgow. It is a method
of self funding for making businesses enough profitable and also have a mission to tackle
ongoing global dilemma's to obtain Denisa's nail salon entrepreneur high-minded goals. The
company may give funds in specific programs, make partnerships with government or current

entities of philanthropies and work on local or international level (Roundy 2017). Social
entrepreneurs are specially and incredibly enthusiastic about what things they can do for a living
because it supports and allows them to occupy their passion and embracing their career with
some specific meaning. Social entrepreneurship is the brand new business model that connects
entrepreneurs to the purpose of their lives and support them in providing great services and make
impact on benefiting community as well as Denisa's nail salon. Social entrepreneurship brings
long lasting happiness in the lives of great minded entrepreneurs to work with high efficiency
and build up the entire business effectively. It supports entrepreneurs to support individuals in
discovering their appropriate needs and purposes. Social entrepreneurs are very ambitious and
persistent to offer new ideas across the world to make wider changes in the scale. They are very
self obsessed with their concepts and ideas and commitment their live to modify. Social
entrepreneurship is very much practical because it is always concerned about the possibilities of
their ideas concepts. These entrepreneurs are mass recruiters of people of community and role
models who tells individuals that their steps can do bring many changes in the environment.
Social entrepreneurship has grown effectively because it is based on the understanding the new
ideas that are the key elements to the solutions of issues in the Glasgow. Social entrepreneurship
create sustainability with its overall aim of achieving systematic modifications and large scale
through unique new ventures (Rahdari, Sepasi and Moradi, 2016). This entrepreneurship unites
the image of business such as innovation, determination and discipline with the passion related
to social mission.
Various motivations that supports in setting up a social enterprise
Motivation is very essential for every enterprise to set up a business. Motivation in
Denisa's nail salon that effectively motivates entrepreneurs beyond building a social value is the
possibilities of exploring modifications as the latest opportunity because it is not limited for
income driven entrepreneurs. Modifications presents the possibilities to create the latest value in
Glasgow that are not yet explored.
For example, Nicholas Apostol a social entrepreneur and the CEO of environmental rubber
identified the changes in the perception around the globe regarding environment and distressed
individuals. By recognizing it has been by him to adapt a new method of recycling rubber which

was less hazardous for the environment. Denisa's nail salon also need motivation that its business
can create and maintain services in order to meet economic and social needs in the Glasgow.
Social enterprises can be set while it has a motivation of that selected business will provide
employment and training and helps disadvantaged groups.
Moral responsibilities and ethical motives are the main reasons that motivate social entrepreneur
of Denisa's nail salon. This kind of motivation supports Denisa's nail salon to provide services I
affordable cost to help middle class sector.
For example, Muhammed Yunus was also motivated by moral and ethics and donated 27-42
dollars to provide moral support to the different families.
Social entrepreneurship is growing rapidly in the society and attracting many volunteers to think
brilliantly and bring changes in the society.
Task – 3
Concept Plan
Business Concept and opportunities -
Denisa's Nail is created to provide each person with the best nail experience as company love to
do nails. Company is designed in the way where people can come and relax by having different
nail services (Julien, 2018). Denisa Nails love to advice and guide customers regarding nail care,
colour matching and demonstrating the latest colours trends. It is situated in Glasgow, UK.
Opportunities-
Beauty Industry is growing with the fast pace, people love to have services which enhance their
personality. By analysing the growth of the industry, Denisa Nails service is opened which
provides premium quality services such as manicures, false nails, nails spa, different nail polish
and accessories for sale by using only high-end brands.
Objective-
To provide nail service to each and every customer that they enjoy.
To do the world's greatest nails and to get girls to have fun with different nails.
To do creative and unique hands that customer start loving their hands.
To become the no. one nail service provider by offering high quality services.
Market Research -

Denisa Nails before offering its services did complete research about the market related to what
are customer expectations, are the services going to be successful, competitors, long term
growth. Denisa have research team which keeps an eye on the market, in order to be aware and
deliver the services that customers expect. Company analysed all the local competitors present
in the market in Glasgow, which provides various services but do not specialize particularly in
providing nails service. Company recognized the value of opportunity and took action of
launching this service. Also, the company can gain competitive advantage through its location
and from the celebrity cliental that help in promoting the business through their social media
networking, helps the company tremendously.
Target Market -
Target market refers to the group of class of potential customers who can be ready to facilitate
themselves from your services. Generally, the target market for the Denisa Nail Salon is young
female age 17-30, particularly middle and upper class ladies surrounding Glasgow. Adult
females are always interested in having unique and classic nails and High British society females
are extremely attracted towards the classic nail services and do not mind spending the extra
money for such services. Company have its presence in Princes Square Shopping Centre, where
it finds large volume of travellers and is destination for salons.
Marketing
Marketing Mix -
Product – Denisa's Nail offers several nail services such as manicures, nail spas using natural
and organic product, nail extensions, false nails such as shellac, acrylic nails, nail art using
glitter, foils, pigment, chrome. It also offers nail creams and moisturizer of different brands such
as body shop, Sally Hansen Cuticle Massage Cream, Essie, Nails Inc nail kits and accessories.
Price – Price for the different services is different as per the package chose by the customers.
Price are differentiated also per the brands and the products used for eg. Prices are different for
the organic and cruelty-free products. Prices are set accordingly as per the prevailing prices in
the market. For eg. For the general traditional manicure basic price is $15, as per the addition in
the package like choosing glitter paints increases the price accordingly. The acrylic gel nails
range is $25-30. Customers can pay through cash, cards and wallets (Holmberg, E. and
Habiyakare, E.,2017). Company offers various discounts and discount vouchers on the festivals
and on the end of season, to attract more customers.

Promotion – Denisa's nail believe in marketing through the word of mouth from its customers,
company ensures that it provide services that satisfy its customers. Company promote its
business through social networking and by collecting customers feedback and showing them on
various websites. It advertises through the help of banners, pamphlets when it offers discounts on
public places, to inform customers about the ongoing deals that is going. Customers also help in
sharing and promoting companies pages on different social media platforms such as Facebook,
Twitter etc.
Place – Denisa's Salon is located at Princes Square Shopping Centre, Glasgow, UK. The location
is selected by considering the ease of the people residing and to cater more customers because lot
many travellers visit the shopping centres, and they get attracted from the salon(Galai, Hillel and
Wiener, 2016). Company have its presence online through its own website from where
customers can see the details regarding the services offered, price range, timings, reviews,
inquiry (contact no.) etc and book an appointment with the salon.
Human Resource – Human resources is the backbone of any company as it helps them a
company to lift its position in the market. There are different experienced professionals who
work for the company in achieving its objective. Similarly, Denisa's Nail team comprises
different professionals such as nail expert and educators, nail technicians, salon manager,
assistant manager, stuff and customer service advisor, sales manager, social media assistant and
owner of Denisa's Nail.
Operations – Operations include various activities that takes in the organization how they are
controlled and affect the business. Operation of Denisa's Nail cab be better understood with the
help of Business Model Canvas.
Customer Segment – Company top customers are the women of age group 20 – 40, they provide
the maximum business because of their interest towards the grooming nails and getting classic
nails. Company focus to satisfy girls as it belies that happy women's are the prettiest.
Value Proposition – Denisa's Nail offers various nail services such as manicure, nail art (Ombre,
baby boomer, marble, leopard simple mix), false nails and various options in these categories
such as one colour, French(tip, cuff, cuticle dot, halfdot), basic (glitter and glitter fade, foils,
pigment, chrome, nailcals, detailed and intricate), Detailed nail art on shellac, acrylic nails etc.
Revenue Streams – Company main revenue generated is by providing the mentioned services and
it does sale few accessories and product related to customers but that depends on customer to

customers. Generally, these product are used after the nails services are done for eg. Cuticles
cream, Nail oil, stickers etc. so, lesser revenue is generated by selling these products.
Channels – All the information related to Denisa's Nail is given through its own website, social
media pages such as Facebook and Instagram page where the young women these days are more
active on (Guzairy, Mohamad and Yunus, 2018). It advertises through the banners and pamphlets
whenever they are coming up with the amazing schemes. To attract customers it advertises on
various public places and through the posters in the malls and shopping places.
Key Activities – Company's key activities include providing services, analysing the sales and the
how can company come up with the strategies that can boost their sales. With the help of the
human resources day to day activities are completed.
Key Resources – Key resources include the electricity, machinery, tools etc with the help of these
resources company can smoothly run its operations.
Cost Structure – Cost structure of the complete business is as follows-
Business Costs
Cost Per Month (£) Per Quarter (£) Per Year (£)
Rent
Electricity
Repair & Renewal
Printing
Stationary
Postage
Telephone
Insurance
Travel
Advertisement
Packaging
Bank Interest
Bank Charges
16,707
20,375
900
100
100
50
500
2000
1500
10000
2000
3000
500
66,828
81,500
3600
400
400
200
2000
8000
6000
40000
8000
12000
2000
200,484
244,500
10800
1200
1200
600
6000
24000
180000
120000
24000
26000
60000
TOTAL 39,732 230,928 898,784

Price Structure of various Services Offered :
Service Price (£)
Manicure 16
Shellac 24
Natural Nail Dipping 35
Polish Change 8
Shellac Colour Change 24
Add French 5
Hand paraffin 7
Acrylic Nails Set 26 Refill 16
Gel Nails Set 32 Refill 18
Remove Nails 10
Repair Nails +3
Nail Design +4
Legal Issues – Company for its smooth business operations has to take care of the rule and
regulation considered in the following countries. Denisa's Nails has to abide by the laws existing
in UK, company must ensure tht its business is registered and practising sound business
practises. Company must follow the tax rules prevailing and regular submissions of the taxes, as
the company is dealing in the cosmetic industry, it needs to ensure that everything complies with
the relevant and safety guidelines. Employer's liability insurance is also legally required in UK, it
is essential to display this certificate at the workplace. It is also recommended having public
liability insurance at place in case of any claims, it won't result into loss of the companies
business practices. Also, company should have treatment risk insurance it will protect the
business if any client suffers with any allergic reaction.
Finance – Company can choose different sources of finance to well establish its business or to
procure more machinery, implement smart technology, train the staff needed as per the
requirements, company needs the sources (Ripsas, Schaper and Tröger, 2018). A Nail salon is

pretty growing industry it can choose different available sources for finance such as, secured
business loans which is given against the collateral asset security, unsecured business loans no
collateral is required but security is needed, merchant cash advance is flexible and adaptable
option and repayments are made in small percentage, other sources of finance such as asset
finance, overdraft, credit cards but the interest are quite high in these options.
Risk, Contingency and Exit Strategy – Denisa's Nail should be aware that while running the
business any type of risk and contingency may arise. Company may face financial and security
risk, economic risk, government may implement new taxation policies, reputational risk,
compliance risk, operational risk and any contingency may arise in the business, any natural
disaster, or economic downfall recession, Covid-19 is the biggest example of the contingency.
So, the company should insurance its business and be ready if any sudden unwanted contingency
arise. If the company has to exit the market due to any case, it should primarily decide its exit
strategy. Because the planned exit way is (preferable) than to forced exit. If company have to sell
its business it have to ensure that it gets realized value for its business. It can do partnership with
any major business or sell its business to some good company who can pay for its goodwill and
the amount that has been invested in the business.
Conclusion
The report above discuss in detail the social entrepreneurship which have great influence
entrepreneur and what the various motivation factors set up in Denisa's Nail. This report later
discuss in detail about the business concept plan of Denisa's Nail what are the opportunities of
this business in Glasgow, the objective of the business, what are the target market, its marketing
strategies and companies sources of finance and risk and exit strategy.

REFERENCES
Books and journals
Dwivedi, A. and Weerawardena, J., 2018. Conceptualizing and operationalizing the social
entrepreneurship construct. Journal of Business research. 86. pp.32-40.
Kimmitt, J. and Muñoz, P., 2018. Sensemaking the ‘social’in social
entrepreneurship. International Small Business Journal. 36(8). pp.859-886.
Rahdari, A., Sepasi, S. and Moradi, M., 2016. Achieving sustainability through Schumpeterian
social entrepreneurship: The role of social enterprises. Journal of Cleaner
Production. 137. pp.347-360.
Rawhouser, H., Cummings, M. and Newbert, S.L., 2019. Social impact measurement: Current
approaches and future directions for social entrepreneurship research. Entrepreneurship
Theory and Practice. 43(1). pp.82-115.
Roundy, P.T., 2017. Social entrepreneurship and entrepreneurial ecosystems. International
Journal of Social Economics.
Ripsas, S., Schaper, B. and Tröger, S., 2018. A startup cockpit for the proof-of-concept. In
Handbuch entrepreneurship (pp. 263-279). Springer Gabler, Wiesbaden.
Galai, D., Hillel, L. and Wiener, D., 2016. How to create a successful business plan: for
entrepreneurs, scientists, managers and students. World Scientific.