Entrepeneuship and Innovation by

Key Dates:

40094017 — 2024-01-29 10:16:30 UTC

Project Brief Due Dates Formative Assessment Proposal Presentation - 12th Feb Mock Presentation - 11th March Summative Assessment Part 1 & 2 - Group Business Plan & Group Pitch Presentation (20 minutes) Submission - 4 pm Friday 15th March Group Pitch presentations - Dragons Den Submission - Wednesday 20th March Feedback 8th April Part 3 - Individual Report 2000 words +/- 10% submission - 4 pm Thursday, April

Layout:

40094017 — 2024-01-29 10:17:38 UTC

Order of Information

1. Executive Summary 2. Management Team (Brief overview of the people involved, names, job titles, photo and micro bio. Organisation Chart included)

3. Fund Raise (The amount you are seeking in working capital to start your business, briefly describe how you intend to use the funds)

4. Vision and strategy (What makes the business special, and how will the vision and strategy be implemented and achieved?

5. USP/CVP

6. Market and demographics

7. Competitors (SWOT)

8. Client Profile

9. The Business (The business proposition, problems the offer solves, critical pillars/foundation in the proposition)

10. The Market

11. Marketing & Advertising 1

2. Business Timelines/Objectives

13. Financial Section - Anticipated Revenue - Pricing - Financial Projections

Breifing:

40094017 — 2024-01-29 10:18:44 UTC

Project Brief - Part 1 & 2 Group Written Business Plan & Pitch Presentation Deck Part 1 - The Business Plan Create and write a business plan/information memorandum and hypothetical business start-up of your choice. Agree as a group by 9th Feb your business idea and create a proposal presentation to pitch to your tutors on Feb 12th.

Part 2 - The Pitch Presentation Create and deliver a business pitch presentation deck highlighting the main components and solutions contained in your business plan.

Key Topics:

40094017 — 2024-01-29 10:19:12 UTC

Topics Covered - Entrepreneurship vs intrapreneurship - Understanding the role of investors and the importance of securing financing as part of entrepreneurship - Understanding the innovation as part of a larger machine - Deliberate Innovation - The scale of operation and innovation - The function of the Business plan - elements

Key Skills:

40094017 — 2024-01-29 10:19:32 UTC

Key Skills - Problem Solving and critical analysis - Research - Commercial Acumen - Innovation, creativity and enterprise

Winning Pitch:

40094017 — 2024-01-29 10:19:52 UTC

How to create a winning Pitch Deck - Start with a strong introduction - Focus on the problem you’re solving - Explain your solution - Show traction - Describe your marketing and sales strategy - Highlight your competitive advantage - Be realistic about financial projections - Keep it simple and visual - Practice - Refine the presentation

Mind Tools: SCAMPER:

40094017 — 2024-01-29 10:20:17 UTC

-Substitution: innovation through replacement, identify, experiment and apply -Combine: digital, traditional, synergy -Adapt: tailor strategies to new markets, Adapt exhisting stratgies to new markets -Modify: alter design element or marketing for greater impact -Put to other uses: Repose, Upcycle, alternate uses for exhisting products -Eliminate: clarity, focus, steamling product to market, better market position, remove to improve -Reverse: reversing norms, direction of travel and processes, unique engagement, re-imagine -Prototype, test, feedback, document process

Key Words:

40094017 — 2024-01-29 10:52:56 UTC

-Creativity: New and original -Innovation: Working on something exhisting -Innative: Natural -Collaborate and partnership

Sustaining and Disrupting:

40094017 — 2024-01-29 10:53:19 UTC

-Sustaining and Disruptive innovation: sustaining improves exhisting to increase profits, benificial if already established with consumer base, disruptive is for emerging brands, low end is entering bottom of market at a price cut, new market is creating a new market segment for a different customer, allows brands to establish consumer needs and improves offerings. -low disruption -new market disruption, eg uber, air b&b -Disruptive prodominantly online, fast fashion, eg amazon, tech and digital driven -Closed Innovation: internal innovation, Past -Open Innovation: external innovation, Present

Types of Businesses:

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-Brick-and-mortar

-Franchise -Wholesale

-eCommerce

-Bricks-and-clicks

-Online Marketplace

-Aggregator

-Dropshipping

-Subscription

-Freemium

-Social enterprise

Nature or Nurture:

40094017 — 2024-02-05 11:32:42 UTC

everything comes from prior knowledge, experiences, education = core skills

-increased accessibility to knowledges enable creativyt and innovation via a need for growth, not exclusive to elite, can be taught and practiced, creating engagement to enable growth and development

-right side of brain- values, vision, left - create and deliver

(project) individual thinking styles: cognitive, idealistic, realistic - developing all thing styles throughoit project, use in reflection
SCAMPER
DEBONO - six thinking hats, ideas, discussion/debate,
blue- control, facilitator
white- facts, objective thinking data
black- safety, thinking potential threat
yellow- benifits, feasibility
green- creative thinking, removes risks from black
red- only non justifiyed, from feelings
use colours for each process and idea

marketing strategy:

40094017 — 2024-02-05 11:59:24 UTC

-introduce through social media launch during party season in the spanish party islands, connect with social media in fluencers within your consumers range to introduce the concpet, add a discount within the first launch

Report:

40094017 — 2024-04-16 14:52:29 UTC

Learnings:

-leadership skills- building confidence, setting targets and dates, creating open group commuication and group pallet

Interests:

Challenges:
-some confusion when asked questions after pitch
Positives:
-self growth on presentations kills
-improved on collaborative skills
Negatives:
-lack of communication with the presenting
Liked:
-colour pallet, props, individuality, digital features
Disliked:
-lacked practice with the presentation skills,
Any Changes:
-conducted further research in to competitors and exhisting things within the market
-further research into financials
-further focus on future development

Report Plan:

40094017 — 2024-04-17 10:43:54 UTC

What happened?
When it occurred?
Who was there? Deborah, Nerea, Peta, Bella
What did they do?
-Deborah: Leaflet, USP/CVP, Business Timeline & Objectives, Digital Video 2
-Nerea: Financial section, Fundraise
-Bella: The business
-Me: Introduction, Customer profile, Competitors, Marketing and advertisement, Social media, Digital Video 1, Primary Research - social media data collection, Flyer (prop), Market and Demographic
-Peta: The Market, Executive Summary, Vision & Strategy
What was the outcome?
Your thoughts & feelings as they occurred.
I feel the workload was heavy on Nerea, i offered asistance with the financial sector

KOLBS -

40094017 — 2024-04-23 11:32:46 UTC

Theory

Reflective

practice

Critical

Mareting & Ads notes

40094017 — 2024-04-23 11:34:34 UTC

Social media advertisment, instagram tiktok, direct to our customer base, partnerships with clubs, promotion with small social media businesses - styling pages, small clothing and accesory businesses

-Influencer collaborations Funding events for influencers to promote our business via social media

Promotion Chanel

Digital Advertisement and marketing via social media platforms

Plans for advertising including relevant platforms... how the business will attract customers using various promotional channels, digital, physical... setting out stratergies and costs...

Collaborations with social media influencers, event bookings Budget for influencer events: £1000

GIBBS Reflective Cycle:

40094017 — 2024-04-23 11:37:43 UTC

SCAMPER:

40094017 — 2024-04-23 11:40:05 UTC

Substitute: What can be replaced? (for example, components, materials, people)
Combine: What can be combined? (for example, other features, devices)
Adapt: What can be added? (such as new elements or functions)
Modify, Magnify, maximize, minimize: What can be modified? (for example, change the size, shape, color, or other attribute)
Put to other use (purpose): Could you put the product to a different use, or use it in another industry?
Eliminate or minimize: What can be removed or simplified?
Reverse, reengineer, or rearrange: What would happen if you reversed the product’s production process? What can be swapped or flipped?

Strategist: Industry

40094017 — 2024-04-23 11:40:28 UTC

Clarifys, differenciates, attracts, connects
Iconic brands in common- emotion, meaniful experiences, employees promise, influence & reputation, brand clarity
Brand - comunications, ethos, people, essence, imagery/style messaging, experiences
Brand gives a logo meaning not visa versa
Our brand: Efficient, experience, opportunity
"Your brand is what other people say about you when your not in the room" Jeff Bezos

Contribution Sheet

40094017 — 2024-04-24 14:03:39 UTC