Innovation and Entrepreneurship
Learning outcome 1: Evaluate the main theoretical principles which underpin the study of Entrepreneurship and Innovation.
Learning outcome 2: Critically analyse the linkages between innovation and entrepreneurship within a variety of companies.
Learning outcome 3: Critically evaluate the variety of entrepreneurial processes relating to new business creation, within larger firms (intra-preneurship), control procedures and exit strategies.
Learning outcome 4: Evaluate the concept of entrepreneurial strategy.
Learning outcome 5: Analyse the relationship between Entrepreneurship and the wider environment, including government policy.
Entrepreneurship is the control and deployment of resources to create an innovative economic organization (or network of organizations) for the purpose of gain or growth under conditions of risk and uncertainty. Entrepreneurs are often characterized as "doers," individuals who like to act and let their actions speak for themselves. (Dollinger) Entrepreneurs create business with innovative ideas and taking some risk. Assume yourself as an entrepreneur and create a business plan for a new innovative product you are planning to launch in Oman.
Dollinger, M. J. (n.d.). Entrpreprenurship Strategies and resources . Marsh Publications.
You are required to write a 2000 words individual business project plan in form of a report. You need to justify that how your business idea will help in the economic development of Sultanate of Oman.
The report will be submitted on Turnitin within prescribed time period. The structure of the report includes:
a. Details of the project (500 words)
Here you will describe your innovative business idea; you need to justify in detail that which particular international brand you are going to target and what value you will add for the customers so they will give up on that brand and switch to your product or service.
b. Objectives of the project (100 words)
You need to write at least 3 SMART objectives
c. Project planning (800 words)
This part will cover the
• Marketing plan
• Financial plan
• Operational plan
• Organisational plan
d. Economic impact (300 words)
Here you need to give details of the contribution of your business idea in terms of economy
e. Personal Reflection (300 words)
You will write that what you learned from this business project plan and how it can be useful in your real life.
Reference (at least 8 References from as per Harvard style)