Discovering entrepreneurship Essay Example | Topics and Well Written Essays - 2500 words

Discovering entrepreneurship - Essay ExampleIntroduction The report deals with developing a business protrude that shows the potential of a new company on or near by the UEL campus. It is also a good opportunity for the project group to have kittens knowledge and skills to be a good entrepreneur in the future. During the project the five main characteristics of a successful entrepreneur were kept believe that you corporation make a difference, take action, be optimistic, tolerance towards ideas and be ethical (Bronson, 2011). The new company is been developed as a response to the growing round of international students in the campus who wish to enjoy food from their own culture. With the increase number of students from different cultures and the demand for product diversity, comes the question Do students from other countries the likes of English food offered in vicinity of UEL campus? There are over 4.000 international students studying at the University of East London (Univers ity of East London 2011). This feature gave the inspiration for this new business idea. International students might not enjoy English food and miss food from their home country. When the food is available in the UK the international students can have difficulties to find it. ... While there are other stores that offer the same product, the business plan aims to create a denounce within the vicinity of UEL so that students do not have to travel long distances. Also the range of products in this shop would be more as compared to the competitors. Internet would also be used in conjunction with the shop so that students can order online also. The company will be opened in the name of Oriental Bazaar. Oriental Bazaar will provide the international students their specific nourishment need. More specific information and research is elsewhere in this business plan. The business plan will include conceptualisation, target market, supply chain, product life cycle, marketing strategy, marke ting mix, operational plan and capital requirement. macro instruction environment Analyzing the macro environment is imperative in order to analyze how the business would fare in the current business environment. The most commonly employ to study the macro environment is the PESTEL analysis (Gillespie, 2007) that is as follows Economic environment University students usually have a limited budget and are not impulsive to pay extra for their food stuff. They usually look for discounts. However, bulk buying is not an option for these students as they do not have to serve the replete(p) family and the purchasing is only meant for one person or occasionally a group of people. Political-legal environment The Political-Legal environment that should be studied in this respect would be that of the University of East London. The shop would be required to maintain the codes determined by the university. UEL is committed to providing the right direction to emerging business and especially ones