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Entrepreneur Development Program

University: University of London

  • Unit No: 5
  • Level: Undergraduate/College
  • Pages: 13 / Words 3134
  • Paper Type: Assignment
  • Course Code:
  • Downloads: 73

INTRODUCTION

Entrepreneurship development is a process that inclusive if skills and knowledge of entrepreneurs for playing their role effectively (Shirokova, Tsukanova, and Morris, 2018). To be the successful entrepreneur it is crucial to have managerial skills and strong team buildings. Thus, performance is dependent on the ability and willingness to perform activities effectively. In this present scenario, they face tough competition in order to sustain and make a mark in the global market. In addition to it, effective leadership attributes are signs of successful entrepreneurs. The entrepreneur to the enterprise should have the capability in order to understand the need and demands of the customer in the market. In this report, enterprises have selected one enterprise as Fast Food outlet service of UK London.

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In order to execute the business activities in the proper manner, effective steps are needed to be taken in terms of opportunity formation and developments. This will be helpful in order to initiate the business activities in an expertise manner. Their development activities can be taken effectively in terms of product development, market development, and organizational development activities. In order to take the development plan successfully it is essential to develop the business plan effectively in terms of evaluating the strength and minimizing the weakness so that activities can be taken in an effective as well efficient manner. In addition to it, the creation of a business plan will be helpful in order to frame the functioning of the business in the expertise mode.

The present assignment will be based on identifying new ideas to initiate any business activities, in this, they need to suggest any innovative idea that could help to bring success to market. The main mission statement of the New entrepreneur's idea should be to understand the customer properly so that better steps can be taken. Furthermore, it can be said that the design and development plan section will be helpful to provide investors with descriptions. Thus, the report will look upon the things as are new ideas and their proposed development, description about the product, services, and organization process (Acs et.al., 2018). In this, it can be said that creativity is the root of entrepreneurship. A discussion is needed to be provided on how the initiatives will be taken to develop the idea in a significant manner. Lastly, it can be said that business strategy must be effective in terms to provide quality information to the target clients' customers in order to satisfy their needs. The present report has included the activities to put a major focus on the development program so that firm can able to initiate its business activities in the proper manner. Furthermore, it is essential to take a development plan and alternative development program to conduct the business activities in an effective and efficient mode. The two perspectives will be taken as cognitive and organization perspectives.

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SECTION 2

Description on the unique value proposition of entrepreneurial idea.

Business idea- To launch any idea in order to proceed business activities is essential and it can come from anywhere from personal skills, experience, mass media, hobbies and talents etc. it is need to be framed in effectively so that activities relates to it can be conducted in easy and attractive manner. In this way, here we have decided to start a new business as fast food services and that has to established in London. In order to execute the business activities as fast food outlet services the location has to be decide and that is one of the mos crucial decision. Thus, firm will be names as “Hungry and Thirsty”. In addition to it, this can be said that the London is one of the famous destination in terms to visit purpose by tourist. Thus, it has decided to open new venture at the posh area where number of visitors uses to visit. The one of the foremost thing is to decide the ideal location of the enterprise so that firm is able to meet the set challenges in the market. The easily accessible restaurant can have the effective brand image in the market so it can be possible to run the organisational activities effectively.

At the Initial stage they entrepreneur has decided to offer attractive combo offers at discounted rates and they also plan to link themselves with online food services so anyone could order at any time. To make this plan successful it is essential to identify the perception of the customers so that attractive steps can be taken. The need to be managed in well and effective manner. The services must be provide in quality manner so it will help to attract the number of customer in the market. In addition to it, this can be said that effective step can be taken in order to perform business activities in well and effective manner.

In this way, it can be said that entrepreneur has decide to provide value proposition in their services to deliver the customer post purchase. It is one of the effective technique that helps to deliver attractive services services to buyers. It is kind of explicit value that good and services provide to the customers. Thus, string value proposition will be helpful in terms to meet the criteria and it has been discussed in following manner as are-

Define Target audience- In order to create the effective value proposition it is essential to select the target audience. To run business activities effectively it is essential to identity the target customer. In this, adults of the age between 25 to 40 has been selected. With help of it, enterprise can easily meet their demands and able to provide appropriate services. It is essential to identify the target audience of the market so that effective plan can be frame to run the business activities in the expertise mode. It has decided to open the Food outlet services in the London and in order to promote this activities effectively it is essential to identify the need and wants of the customers.

Know your competitors- In terms to have the separate identity from the rivalries in market, it is essential to have proper idea about them. The high competition is one of the biggest challenge of the restaurant industry (Management: perspective and practice, 2018.). This will be helpful to attract the customers in the market. By analysing the strength of the firm the firm can be capable in order to run business activities expertly. To get cope up with it, this is essential to bring that kind of modification that helps to keep aside value. In this manner they are able to facilitate the working in efficient manner. Thus, before setting up the organisational activities it is essential in order to know the competitor of the same outlet. With help of it, effective steps can be taken in order to satisfy the customers.

Define the needs of products and business meets- In order to carry out activities effectively, it is essential to understand the needs of products and modification relates to it. It can be identify with help of taking feedback from the customers so that loopholes can be mitigated effectively. Thus, it is crucial to identify the needs of the commodities. In addition to it, this can be said that the descriptive style of the service, promptness will be essential to communicate the conceptual image of the enterprise. This will be helpful in order to analyse the demand of the customer in the market.

To define Why are you unique- It is essential to know the customer about to uniquely solve their problem. By let them know about the value of the product the firm can able to attract the audience in market. Thus, new venture should add some uniqueness in commodities so that potential buyers can get attracted towards it. In the firm, it is need to be defined that why the new outlets services are unique in market. This will be helpful in order to promoting the thing in the effective as well efficient mode. In this, it can be said that the innovations are needed to be taken in order to keeping cost low and menu design in the place.

Quantify value- The value propositions are one of the most compelling at the time of targeting the audience. To make the better understanding with the finance is essential in order to run the firm in the successfully manner. It is crucial that entity always have adequate amount of funds so that they can able to start up the business effectively. In addition to this, it can b e said that it is essential to lead the team effectiveness and stay organized is crucial to develop the business idea in the expertise mode.

SECTION 3

Development in partway that propose to take proposal, taking into account and define at least one alternative pathway.

In order to promote the entrepreneurship idea, it is essential to undertake the business in effective manner. The venture development program are needed to be taken with the help of the proper consideration. In this, there are some perspective that has been presented in the below context manner as are-

Cognitive Perspective- The cognitive approach uses the cognitive perspective of entrepreneurs to study and to explain the behaviour in terms to identification of the opportunities and creation of business and business growth (Estrin, Mickiewicz and Szerb, 2018). The cognitive perspective to the enterprise is kind of response to the limitation of the trait approach. In this way, the main process is as Scripts, Self efficacy, Cognitive styles and Heuristics. With help of developing the entrepreneur cognition will work as to represent the potential and productive field of research.

It is very helpful in order to understanding the individuals behaviours, considering their mental processes at the time they use to get interact with the people. This is effective in order to address the environment in which the mental processed and interaction took place. In addition to it, this can be said that the theory of the social cognition will be helpful in order to introduce the idea of knowledge structure. The cognition plays the essential role in terms to certain aspects of the cognitive aspects. There are differed thing that will help to process the entrepreneurship activities effectively and it is defined in the following manner as are-

  • Self efficacy- In this, it can be stated that self efficacy has become the essential variable that considered as cognitive study of entrepreneurship behaviour. Thus, it can be said that the self Efficacy will be helpful in order to develop the self belief in the one's ability to adopt the role and conduct the task of the entrepreneur successfully. This is effective in terms to differentiate entrepreneurs from the managers and it is function that also works as to correlates with the intention of owning the business activities in the proper and effective manner (Shirokova, Tsukanova and Morris, 2018). In this, it can be stated that the understanding of the experiences about the conceptualisation, early development and growth of success plays effective role in terms to functioning of the entrepreneur group. The main aim of this theory is to develop the knowledge and skill of the entrepreneur in terms to understand the depth about the new outlet services of food in London.
  • Cognitive style- It is defined as way that people perceive environmental stimulation. The successful entrepreneur always works as to enjoying the discovering opportunities, being innovator, taking risk and in order to run the enterprise activities in the effective manner. In addition to this, it can be said that they must have the attitude as to bring the uniqueness to the product so that the idea and plan can be successful and firm can able to run their activities effectively. In this order it can be said that the creative style is characterized by holistic and conceptual thinking. Thus, the entrepreneur to the firm must be as ambitious and achievement oriented. The effective entrepreneur has the ability to the have the integration of the the analytical and intuitive processing style is required to process the information about the idea so that activities can be taken successfully in the market (Hacklin, Björkdahl and Wallin, 2018).
  • Planning fallacy- It is cognitive aspect that relates to the error of planning. It has the tendency to believe that this has the tendency to believe that one can achieve the more in the given period of the time. In this, people work as to do the things effectively with the proper mental ability. In this step. The entrepreneur works as to plan all the things in the effective manner so that things can be undertaken effectively in terms to operate in the dynamic and certain environment.

The alternative development pathway-

Organisation perspective- The another perspective can be taken in order to run out the things in the effective manner. It is inclusive of the information that relates with interface refers to present the information that is visible, accessible and usable by the users (Pedersen, Gwozdz and Hvass, 2018.). In this, it can be said that the entrepreneurship tendency can be termed out as procedures and decision making actions that would be helpful in order to lead the entrepreneurship activities in the organisation effectively. The all activities are needed to be taken in the expertise mode so that all things can be done in the effective and efficient mode. Thus, it can be said that the all things will be helpful in order to adopt the suitable strategies so that things can be done in the effective and efficient mode. The propose business development program is to propose activities for the food outlet services so that things can be done in the effective and efficient mode ( Littlewood and Holt, 2018). As per the organisation perspective there can be classification of the entrepreneurship activities in the following manner as are-

It can be stated as that one person works as to creates the risky innovative entrepreneurship and it can be because of the developing the new business activities in the effective manner so that there can be innovation of the entrepreneur activities in the effective manner.

Group entrepreneur- It is activity that can be formed in the manner of team and helps to create an innovative entrepreneurship program (Gümüsay and Bohné, 2018). This will be effective in order to do the each thing in the expertise mode.

Organizational approach- To be the successful the organisation follows the effective entrepreneurship approach and provide the several number of perquisites so that things can be undertaken effectively and efficiently.

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Furthermore, it can be said that the individual entrepreneurship means creating and organizing the new business activities effectively or to established the company in the appropriate mode. This kind of entrepreneurship approach will be helpful in order to develop new activity so that all all the things can be done in the expertise mode (Nabi and et.al., 2018). It is the kind of process in which it is essential to recognize the growth and development chances in order to create the new values for the customer with the more unique and re-allocating the all resources. In order to frame the each activity in the expertise mode it is crucial to have the high rate of development.

Necessity of Organization entrepreneurship- The necessity of the organizational entrepreneurship will be helpful due to the incompatibility and slow reaction of the medium and large enterprise in comparison to the daily increment, rapid, complex and unreliable changes in the environment and there must be introduction of the fast actions and innovation is the one of the core factor in order to run the all activities in the expertise mode. In the present scenario, there are number of the firms who have noticed the necessity of corporate entrepreneurship. Thus, it has been defined in the following manner as are-

  • There must be rapid increment in the new competitors.
  • Destruction in the traditional methods of the companies.
  • There must be leaving of the best labours and their independent entrepreneurship.

SECTION 4

CONCLUSION

Based on the above report it can be concluded that entrepreneurship development program will be helpful in order to run the business activities in the effective and efficient mode. It is process that is inclusive of the skill and knowledge of the person in order to frame out the all things in the effective manner. Thus, the performance is dependent on the willingness to perform the activities in the expertise mode. The entrepreneurial activities are must be task oriented and accurate. With help of the effective opportunities and challenges things can be undertaken in the effective manner. The present report is dependent over the value proposition and uniqueness to one particular innovative entrepreneur idea. In addition to it, report has been covered the things as are innovation approach to product and two development perspective as cognitive and organization perspective. This report has made with the perception of making the effective business proposal. We provide the programming assignment help with unique content. Contact Now.

Reflection-

The present report is based on the entrepreneur development program. This will be helpful in order to develop the organisation activities in the systematic mode. Thus, there is two developmental program that will works as to formulate the all the things in the expertise mode. In this, I have selected the two approach as are cognitive perspective and organisation perspective so that things can be done in the expertise mode. In order to make this plan more effective, I have selected the plan as Food outlet services in London and this will be helpful in order to conduct the things in the appropriate mode. The organisation will be named as the Hunger and Thirst. This is effective way in order to frame each thing in the efficient mode.

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