BUS6011 Entrepreneurship Assignment Sample | Business Case

INTRODUCTION

Entrepreneurship is explained as procedure of creating, designing, developing and organising a novel business idea with the purpose of generating income and profit and fulfil the needs of the society (Ratten, 2023). The report is going to explain about the business idea which is cleaning company named Green Cleaners. The report will describe the theories and process related to idea generation, idea screening, creativity and innovation. Further, the report will discuss the environmental scanning technique and suitability of idea. Financial projection, informative summary about business and self-reflection to provide insights will be also covered in the report. Experience stress-free academics with our reliable BUS6011 Assignment Help Online, where expert guidance ensures timely submission and top-quality academic support.

TASK 1 - IDEA CONCEPTION AND DEVELOPMENT

Critical evaluation of theories of idea generation, screening, creativity and innovation

Idea generation theory

SCAMPER is an idea generation model which refers to substitute, combine, adapt, modify, put to other utilisation, eliminate and reverse. It is a method to reimagining existing ideas, goods and services. It is an excellent way to dream up improvements and new directions. Substitute leads to exchange a material for another with low cost whereas; adapt helps to inspire ideas to cater to new customers (Hassan, 2023). I utilised the theory to generate the new business idea. It has provided me a way to think how to innovate existing products and services in new way. However, the method is quite difficult to implement without guidance.

Idea screening theory

Design thinking is a kind of systematic, instinctive and customer-centric problem-solving approach that companies can utilise to react to quickly changing environments as well as to make maximum impact. The design thinking methodology has been utilised to derive the business idea in order to solve the complex problems (Magistretti, Pham and Dell'Era, 2021). The method stresses on collaboration and rehearsal to develop innovative solutions which is usually utilise in development of product and business innovation.

Creativity theory

Investment theory of creativity states that creativity needs convergence of six different but interconnected resources such as intellectual capabilities, knowledge, thinking style, motivation, environment and personality. I learned about this theory and used when I was searching for new business ideas (Ameen et al, 2022). It assisted me to view problems and issues faced by society more openly and motivated me to find innovative ideas like cleaning service. With the help of the theory, I became able to take risk to generate new business venture as an entrepreneur.

Innovation theory

Stage-Gate Model is an innovation model that structures the innovation procedure into different phases separated through decision points which are also known as gates. Each phase includes particular activities like concept development, viability analysis along with prototyping. The model provided me a systematic framework from developing idea and feasibility analysis to launch business and perform activities (Tavares-Quinhoes and Velez-Lapão, 2023). Conversely, the innovation model can be rigid and sometimes it leads to high level of bureaucracy with many approvals as well as paperwork. I identified that it is also time-consuming procedure.

Application of research/environmental scanning techniques

Environmental scanning is important for achieving strategic growth and allows the business to analysis the environment, opportunities, threats and market situation. PESTEL and SWOT are two major environmental scanning methods.

SWOT analysis

Strengths:  Green Cleaners will utilise ethical and sustainable approaches to offer services which is greatest strength of the business.

Weaknesses: Lack of market knowledge and high operational cost can be weaknesses for the cleaning company (Pramanik et al, 2022).

Opportunities: Emerging technology will offer opportunities to Green Cleaners to leverage e-commerce business model.

Threats: High level of competition among cleaning companies will be a major threat that can negative affect business (Business Conceptor, 2024).

PESTEL analysis

Political: Changes in rules and regulations due to Brexit can affect the business operations. But government grants for start-ups will help to set up business.

Economic: Increasing inflation rate (2.5% in 2024) can reduce the buying power of the customers which can further reduce sales of Green Cleaners (BBC, 2025).

Social: People especially working people are choosing the external cleaning services due to their busy schedule which is good indication for new business.

Technological: Because of technological advancements, the company can utilise advance cleaning machines like vacuums for cleaning.

Legal: Green Cleaners should make sure that their approaches comply with the legal rules like employment, health and safety, human rights etc.

Environment: Because of growing environmental impact, UK government has made strict guidelines for existing and new business (PESTEL Analysis, 2023). It is crucial for the company to comply with rules to protect environment.

Porter’s five forces model

Customer’s bargaining power: The bargaining power of the buyers in the cleaning industry is moderate. There are many cleaning companies that offer reasonable services, Customers can easily switch the company if another company offers great deals.

Supplier’s bargaining power: The impact of bargaining power of suppliers is low for the new business. There are large number of suppliers who provide cleaning products, machinery and equipment. Green Cleaners can choose supplier who charge reasonable prices.

Competitive rivalry: Competition in the cleaning industry in the UK is intense. Cleaning express, Scrubs Cleaning, P & H Cleaning, Ace Cleaning are some companies that offer excellent services and can give tough competition (Pangarkar and Prabhudesai, 2024).

Threat of new entrants: The cleaning sector has comparatively low obstacles to enter. A new company can easily enter into the market. But well-established companies can act as barrier to the new companies to enter.

Threat of substitution: The impact of substitution threat is moderate because demand for professional cleaning is high. There is low chance that customers will choose substitute the services.

Justification of suitability of idea

I am an entrepreneur and decide to establish my own business with the aim to earning income and meet the people’s needs in the society. I am suitable to set up new business as I have several entrepreneurial qualities which will help me to get success in the new business venture. I have prior experience and good knowledge about industry. I have a set of valuable skills which involve communication, active-listening, problem-solving, time management, creativity, teamwork and decision-making skills. I also have personal skills like emotional intelligence and self-awareness which will help me to manage difficult situations in a proper way. My self-motivation skills will facilitate me to encourage my staff members to do their jobs effectively (Jardim, 2021). When I was in my university, I did part-time job and worked as an intern in the company. I was responsible for delivering products to the customers. After completing graduation, I worked in a company as sales executive and managed sales related tasks. I worked in the company for two year. Moreover, in other company, I worked as sales manager and have 3 years of experience. All these skills which are mentioned above and my prior work experience make me highly suitable to lead the new business venture. I will put lot of efforts and knowledge to drive the business in right direction.

Informative executive summary

The important decision to set the new business such as; cleaning company, has been taken through keeping in mind issues experienced by the people. The name of the business will be Green Cleaners. There are numerous who are looking for external cleaning services because they are not able to do at own level. Working people also face problems to clean their house due to busy schedule. The cleaning industry is constantly expanding and it is good indication for new business project (Koutsimpogiorgos, Frenken and Herrmann, 2023). Green Cleaners will target the men and women of age group 20-60. The cleaning company will target working people, families and price-conscious people. People who always book services online as well as corporate offices will be also targeted by the company by offering online services. The firm will utilise advance cleaning equipment, take orders by phone calls, online and personally and use electric vehicles for transportation. These things make the Green Cleaners differentiate from others.

Financial projection

Implementation of relevant reflective model to provide insight

Gibbs reflective model will be utilised to give an insightful and intuitive reflective account. Gibbs model contains six stages such as; description, feelings, evaluation, analysis, conclusion and action plan (Pieper et al, 2021). Since my university education, I had dream to establish own company as I inspired from popular business persons. As I wanted to solve the problems of people to do their daily work, I decided to open cleaning company with innovation so that it can solve their problems. Due to my skills, competencies, knowledge and prior experience, I decided to set up cleaning business which provide green solutions. At beginning of process, I felt little anxious as it was new for me. I took help from external experts and businessmen who open their business. I used my research skills and technical knowledge to search about the idea and its execution process. I also utilised my finance and accounting skills to make the budget for business and allocate resources appropriately. Though, during the budget planning, I experienced difficulties to allocate financial resources. In this situation, I took guidance from external finance professional. I also hired a website developer who develops the attractive website for the company. I will continue pay attention on enhancing my skills and get new knowledge and growing professional network. Continuous improvement and professional network will allow me to expand business in future.

CONCLUSION

From above analysis, it is concluded that entrepreneurship is valuable as it is considered as a main driver of economic development. When an entrepreneur open new business, they create job opportunities for the potential people at the same time they solve the society problems by offering products and services. The report has explained about the new cleaning business that would mainly target the working people, old people, tech-savvy customers and corporate offices. It has analysed, the company can face problem because of increasing competition and but new concept, government grants and technology can help in business.

REFERENCES

Book and Journals

Ameen, N., Sharma, G.D., Tarba, S., Rao, A. and Chopra, R., 2022. Toward advancing theory on creativity in marketing and artificial intelligence. Psychology & marketing, 39(9), pp.1802-1825.

Hassan, S.M., 2023. SCAMPER as a creative idea generation method: Case study on graphic design students. Inf. Sci. Lett, 12, pp.1417-1428.

Jardim, J., 2021. Entrepreneurial skills to be successful in the global and digital world: Proposal for a frame of reference for entrepreneurial education. Education Sciences, 11(7), p.356.

Koutsimpogiorgos, N., Frenken, K. and Herrmann, A.M., 2023. Platform adaptation to regulation: The case of domestic cleaning in Europe. Journal of Industrial Relations, 65(2), pp.156-184.

Magistretti, S., Pham, C.T.A. and Dell'Era, C., 2021. Enlightening the dynamic capabilities of design thinking in fostering digital transformation. Industrial Marketing Management, 97, pp.59-70.

Pangarkar, N. and Prabhudesai, R., 2024. Using Porter's Five Forces analysis to drive strategy. Global Business and Organizational Excellence, 43(5), pp.24-34.

Pieper, M., Roelle, J., vom Hofe, R., Salle, A. and Berthold, K., 2021. Feedback in reflective journals fosters reflection skills of student teachers. Psychology Learning & Teaching, 20(1), pp.107-127.

Pramanik, P.D., Maudiarti, S., Achmadi, M. and Adriani, H., 2022. The potentials of homestay development: A SWOT analysis from a case study. In Current Issues in Tourism, Gastronomy, and Tourist Destination Research (pp. 351-358). Routledge.

Ratten, V., 2023. Entrepreneurship: Definitions, opportunities, challenges, and future directions. Global Business and Organizational Excellence, 42(5), pp.79-90.

Tavares-Quinhoes, T.A. and Velez-Lapão, L., 2023. Strengthening the innovation management: Insights from the Stage-Gates Model. Journal of technology management & innovation, 18(2), pp.91-105.