Entrepreneurship and Venture Creation B Assignment

Entrepreneurship and Venture Creation B - Assignment Example He should be able to take calculative risk in order to derive huge profit at a low stake of loss from his business decision. In fact, the level of determination should be very high so that he would be able to consume and sustain during the events of business losses and occurrences of business turmoil. Planning and networking should be very strong and he should be able to reformulate the strategies according to dynamics of market (Burns, 2014). In fact, establishment of business requires extensive market research for identifying the resource requirements and analyse degree of competition prevailing in the industry (Barrow, Barrow and Brown, 2015). Apart from identifying the physical and financial resources as well as prevalence of business opportunity in the market segment, a detailed business plan must be prepared well in advance taking into consideration the nature and scope of business, establishment cost, source of supply, pricing and promotional strategies, technological involvem ents, supply chain and many more critical aspects. In this paper, a venture of Men’s Salon and Spa will be created and accordingly supporting business plan will be presented in a way that will lead the entrepreneurship initiative to witness a grand success (Carr and Newell, 2014). Entrepreneurship and commencement of a new business involves huge market research and strategy formulation, keeping in mind the strategies adopted by the competitors. In the next segment, the paper will explore detailed business plan and industry analysis for the Men’s Salon and Spa. The entrepreneur is planning to establish a Men’s Salon and Spa with an aim to provide world class experience through creation of a stimulating and relaxing atmosphere as well as installation of high quality products and machineries (Blackwell, 2011). Before driving a business, it is of utmost importance to recognize the need for the product and service among the consumers and identify

Small Group Dynamics Essay Example | Topics and Well Written Essays - 2250 words

Small Group Dynamics - Essay Example I was considered to be the team leader for my group so I started with the point that I am glad to speak about the industrial training that we have went just before a couple of days. And i also continued with the point that the industrial visit was really a good thing because we were able to gain more knowledge regarding how the telecommunications worked. so i raised a question to my friend arthy asking what she is thinking about the industrial training she was very bossy and adamant so she turned the topic to a different side saying that the training was of no use because we were there hardly for a day and a half. So she also stated that nothing could be possible within that time to learn or to implement things. For which another mate Dhiranya started to tell i am sorry arthy i do go with Dharni because it taught us something. She also said that if you think that we have been there for nothing, so far we were learning about the telecommunications only theoretically so it was of no use to know how the things will look like, only after visiting the place we were able to see some receivers, transistors the network communication and all the other technical things she completed her point saying like this and waited for the reply. There as a leader I have to speak something and i started to stick on to the point and said my friend arthy I too go with dhiranya saying that so far if some one asks us to speak about something regarding telecommunication we would have explained them in a theoretical way but only after the training we could explain them in a better manner for an instance we can even draw and show them the things and the technical machines that we saw there. And I soon realized that Vidhya was left alone without giving her the time to discuss with us and said straightaway to the team stating that let Vidhya have her turn to think about the situation. vidhya started saying thank you for giving me a turn and said that she would go with rest of the team stating that she had some practical knowledge and it was also a useful thing to be included in her study material. She also said that she was able to know certain things that how to sort out a problem for a particular telephone connection among the million wires interconnected there. But suddenly arthy rose to a great height and said if you say so will you be able to set a default tele line straightaway without any help. This was a great conflicting thing to our group and soon accommodating to the situation Vidhya continued and said of course I will be able to do that if I have some proper training as I know where the things lie but the next step of disconnecting and joining the wires would be possible by proper training. Again arthy avoided the point and said so this was entirely a true waste of time. There of course i used my creativity and my bossiness to put a full stop to the point and said it will be a mere waste if you think that the explanations given by the faculty for our lessons are also the same as the training that we visited. Though she was taken aback for a few minutes she was finding her mistake and compromised with the answer that was given by me. So at last she said of course the training was interesting and some what helpful to an extent. But, she looked taken aback and