You have completed over a decade of corporate experience. You feel that it is time now for starting your own venture. In your role a first-time entrepreneur, you have to create a business plan in order to secure funding from financial institutions or private investors.
Using your business idea as a vehicle for discussion and analysis and using appropriate evaluative frameworks
critically appraise and discuss your business approach to opportunity recognition and product and/or service innovation.
Suggest how a more entrepreneurial approach to product and/or service innovation might be used to reduce the risk associated with new product and service development and the general performance of the business.
Present your suggestions and recommendations in the form of a business plan across the next 12 months for product and/or service innovation strategy objectives, targets, planning, budgets, implementation and control. Use analytical frameworks in your work.
Your report should also cover an environmental analysis to identify relevant opportunities and threats that the business is likely to face.
You must relate your work to appropriate theories, concepts and models.
Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive.
RECOMMENDED READING/SOURCES
Barringer, BR & Ireland, RD (2015), Entrepreneurship: Successful launching new ventures, 5th edn, Pearson Prentice Hall, New Jersey.
Burns, P. (2016) Entrepreneurship and Small Business: Start-up, Growth and Maturity 4th edn. Palgrave
Hisrich, RD, Peters, MP & Shepherd, DA (2012), Entrepreneurship, 9th edn, Irwin McGraw Hill.
Kuratko DF, Frederick HH & Hodgetts RM (2016), Entrepreneurship: Theory, process, practice, Asia-Pacific edn, Thomson
Mariotti, S. and Glackin, C. (2015) Entrepreneurship: Starting and operating a small business 4th edn. Pearson
Westhead, P., McElwee, G. and Wright, M. (2011) Entrepreneurship: Perspectives and Cases 1st edn. Financial Times/Prentice Hall
ONLINE RESOURCES
http://www.inderscience.com/jhome.php?jcode=ijesb
http://www.inderscience.com/jhome.php?jcode=ijeim
http://www.jemi.edu.pl
https://www.omicsonline.org/entrepreneurship-organization-management.php
http://www.tandfonline.com/toc/rsbe20/current
