Entrepreneurship and Innovation - Essay Example

Comments (0) Cite this document
Entrepreneurship and Innovation Table of Contents Entrepreneurship and Innovation 1 Table of Contents 2 Executive Summary of the Venture 3 Part A 3 Description of the Venture 3 Major Issues of the Venture 4 Feasibility Study of the Venture 4 Product and Service 5 Technology 5 Competition 6 Part B 7 Segmentation and Target Market 7 Marketing and Sales Strategy 10 People Requirement 10 Financial Requirement 12 References 14 Bibliography 16 Executive Summary of the Venture This report describes opening of a new venture i.e…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.1% of users find it useful
Entrepreneurship and Innovation
Read TextPreview

Extract of sample "Entrepreneurship and Innovation"

Download file to see previous pages The people will be recruited and given jobs according to their strengths and skills in particular field. This report illustrates the estimated financial needs and total forecasted net cash flow in the first operating year. The venture will differentiate their products and services by innovative promotional activities to attract customer and increase their customer base. Part A Description of the Venture The venture is to open a clothing store that will provide people variety of clothes and accessories. It will offer most inclusive selection of clothes in stores as well as in online shopping. By offering a complete selection of fashionable items, the new venture will quickly gain good response among customers and also increase the sales. The new venture will certainly fulfil the need of customers by providing most inclusive selection and by having good educated employee force. The business venture will constantly monitor the competitive business condition to ensure innovation and differentiation in their products. The clothing venture will adhere to maintain strict control in financial activities. The major creativity which will distinguish the products of the new venture will be to provide multi-sport wear to match the lifestyle of customer, tailored customer service and variety of sizes to choose which can fit the potential customer. Major Issues of the Venture One of the chief issues for new clothing venture is the recent decline of apparel manufacturing industry. The chief reason for this demur is that the retailers are relocating their production offshore. Due to low cost advantage in other countries, several clothing brands relocated their production offshore that resulted in job cuts of employees in the UK. The new clothing venture will outsource their products from British manufacturing companies because the demand of British products is at present increasing. The outsourcing from British manufacturing company will help to boost the confidence of the apparel industry and determine the problems of producing apparel goods in the UK. The new clothing venture can create job opportunity for several people in the UK (Freitag, 2011). Feasibility Study of the Venture The fashion sector of the UK is active compared to many of the markets. The fashion market is influenced by international market and it is dominated by seasonal style, disparity and desire of people. Therefore, businesses related to clothing and fashion need to consider the diversity of people’s opinion and thoughts towards brand and fashion. The fashion sector of the UK provides complete view of customer’s purchasing behaviour (Experian Information Solutions, 2010). The clothing market of the UK has shown excellent growth. In between 2004–2008, the expenditure on clothing items in the UK had increased by 10%. The supermarket such as ASDA and Tesco had accounted for increasing in sales of clothing products than other outlets. In the year 2008, the supermarkets’ share had raised to 23% compared to 10% in the year 2000. It is expected that this expansion will continue because of increase in customer expenditure on non-food products. The clothing mar ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Entrepreneurship and Innovation Essay Example | Topics and Well Written Essays - 2500 words - 2”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1420024-entrepreneurship-and-innovation
(Entrepreneurship and Innovation Essay Example | Topics and Well Written Essays - 2500 Words - 2)
“Entrepreneurship and Innovation Essay Example | Topics and Well Written Essays - 2500 Words - 2”, n.d. https://studentshare.org/environmental-studies/1420024-entrepreneurship-and-innovation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Entrepreneurship and Innovation

Entrepreneurship and Innovation

...? BU2005 Entrepreneurship and Innovation CREATIVE JOURNAL By One 2009 First Journal Entry Set Tasks How do you stack up against the five dimensions (e.g. achievement drive, creativity, desire for autonomy and internal locus of control) use your GET 2 survey questionnaire results (Appendix of Text). GET 2 survey personal score: Need for achievement: 8/12 Need for autonomy: 4/6 Creative tendency: 11/12 Calculated risk taking: 7/12 Locus of control: 6/12 My result for this exercise was 36 out of 54 In accordance with my results, I have medium entrepreneurial capabilities. To my mind, I am lacking of professional experience, but with respect to my age I think that this experience is enough. I have a high degree of achievement need... of...
8 Pages(2000 words)Essay

Entrepreneurship and Innovation

...? Table of contents Introduction……………………………………………………………………..2 2. Enterpreneurs vs intrapreneurs………………………………………………….2 3. Literature review on intrapreneurship and entrepreneurship…………………...4 4. Practical reflection of intrapreneurship……………………………………….....5 5. The main obstacles of intrapreneurship…………………………………............8 6. Conclusion…………………………………………………………………….…9 7. Bibliography…………………………………………………………………….12 8. Appendix I Reflective Commentary…………………………………………….13 Entrepreneurship and innovation Introduction Human activity has reached its height in XXI century. Therefore, there is a need to develop and facilitate spheres of human activities. Business is a sphere of human activity, which...
13 Pages(3250 words)Essay

Entrepreneurship and Innovation

...digs deep for iPhone advertising splash. Reuters.com. October 3rd 2007. Viewed on December 31, 2010. Available at: http://www.reuters.com/article/idUSL038246020071003 DEUTSCHMAN, ALAN. "The once and future Steve Jobs." Salon.com, 11 Oct. 2000. Web. 8 Dec.2009. http://archive.salon.com/tech/books/2000/10/11/jobs_excerpt/index2.html USEEM, JERRY. "Apple: America's best retailer." CNN: Money, 19 Mar. 2007. Web. 15 Dec. 2009. http://money.cnn.com/magazines/fortune/fortune_archive/2007/03/19/8402321/index.htm SCHNEIDER, J., & YOCUM, J. (2004). New product launch: 10 proven strategies. Deerfield, Ill, Stagnito Communications DRUCKER, P. F. (2007). Innovation and entrepreneurship: practice and principles. The...
10 Pages(2500 words)Essay

Entrepreneurship and Innovation assignment

...usually dine out on weekends with their families and partners and prefer to visit those places which offer good food at reasonable prices and a comfortable seating arrangement so as not to cause any inconvenience (Franck, 2005; Duffill, 1993). Dinner in the Sky offers a unique experience to the market and brings about an innovative idea to take the customers to the sky and give them the ultimate dining experience. The size of the Target Market which the company will be specifically catering to would be the 10% of the population of the city who belong to the Social Economic Class A and B. The lower middle class and the middle class would also be welcomed through trade promotions and discounts to leverage the revenues of...
10 Pages(2500 words)Essay

Entrepreneurship and Innovation

... Social Entrepreneurship and Innovation Terms of Reference Corporate Social Responsibility - “the way an organization takes account of the economic, social, and environmental impact that it has, maximizing the benefits and minimizing the negative consequences of its operations” (Lowe and Marriott 2006: 215). Social Entrepreneurship - is a concept that can be defined as belonging to both profit and non-profit organizations where products and services are created with the intent of increasing “social wealth enhancement” (Teufel 2007: 11). Some definitions only include non-profit, but considering all of the needs within the world, defining it through product and service type seems more appropriate, regardless of the benefit... to the...
11 Pages(2750 words)Essay

Entrepreneurship and Innovation

...? Entrepreneurship and Innovation Table of Contents Introduction 3 Assessment and reflection on the process and techniques of innovation 3 Process ofinnovation 5 Clusters 6 Analysis of the strategy followed for innovation management in Omantel 7 Recommendations to improve innovation management 9 Establishment of innovative environment within Omantel 11 Strategic Implications 12 Conclusion 13 Reference List 14 Andrews, J. and Smith, D. C. 1996. In search of the marketing imagination: factors affecting the creativity of marketing programmes for mature products. Journal of Marketing Research, 33(2), pp.174-187. 14 Introduction The process of...
12 Pages(3000 words)Research Paper

International entrepreneurship and innovation

..., J. R. and Hapiewocki, J. (2010) Competitive Business Strategy Darby, PA: Greenwood Publishing Group. Lindgreen, A. (2012) Market Orientation Surrey: Gower Publishing. Mankiw, N. G. (2012) Economics Mason, OH: Cengage. Morato, E. A. (2013) A Trilogy on Entrepreneurship: Creating the Enterprise London: Bookit Mueller, D. C. (2010) Profits in the Long Run Cambridge: Cambridge University Press. Pinson, L. (2012) Anatomy of a Business Plan New York: AKA Associates. Porter, M. E. (2012) Competitive Advantage New York: Simon and Schuster Quiry, P. (2012) Corporate Finance: Theory and Practice Hoboken, NJ: John Wiley and Sons. Shavinina, L. V. (2009) The International Handbook of Innovation London:...
9 Pages(2250 words)Essay

Entrepreneurship and Innovation

...Entrepreneurship and Innovation Introduction Innovation in commerce and technology is at the core of policy debate in major parts of the world experiencing fiscal, globalization, and demographic challenges. The article identifies imitation and innovation as well as other strategies in pursuing development. Innovation is one of the primary objectives of business companies and in most cases, it guarantees development in business. In doing this, the company differentiates supply innovation that entails influences in the entire supply process from process or product innovation, which covers modification of the process of...
12 Pages(3000 words)Essay

Entrepreneurship and innovation

...Entrepreneurship and Innovation Introduction According to Crumpton , innovation de s the means by which entrepreneurs exploit change in order to generate new service and business opportunities. On the other hand, entrepreneurship involves the development of a business with an aim of making profits. In this regard, effective entrepreneurs benefit from learning and practicing new ideas that can improve their business ventures. Further, through a systematic exploration of opportunities available in the business environment, entrepreneurs are in a position to adapt to new changes in a competitive marketplace. Initially, innovation was a preserve of large...
12 Pages(3000 words)Essay

Entrepreneurship and Innovation

...Entrepreneurship and Innovation Table of Contents Entrepreneurship and Innovation 1 Table of Contents 1 Executive Summary of the Venture 2 Part A 2 Description of the Venture 2 Major Issues of the Venture 3 Feasibility Study of the Venture 3 Product and Service 4 Technology 5 Competition 5 Part B 6 Segmentation and Target Market 6 Marketing and Sales Strategy 9 People Requirement 9 Financial Requirement 11 References 14 Bibliography 16 Executive Summary of the Venture This report describes opening of a new venture i.e. to open a clothing store in the UK. It involves the market feasibility study of the apparel industry in the UK. The clothing venture will provide all...
11 Pages(2750 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Entrepreneurship and Innovation for FREE!

Contact Us