LO1: Examine what it takes to be an entrepreneur and the scope of entrepreneurial ventures. LO2: Explore the concept of the entrepreneurial mindset and its contribution to entrepreneurial ventures.
LO3: Assess the impact of SME (small medium enterprise) on the economy.
LO4: Explain the importance of intrapreneurship in both public and corporate organisation.
- Written communication skills
- Presentation skills
- Reasoning and analytic skills
- Comparing and contrasting different approaches to entrepreneurship and intrapreneurship
- It and digital skills for presenting information
Critical reading skills and summarising information
You are working as an enterprise analyst at Recover Mania
a small recyclable clothing brand which aims to promote sustainability and reduce pollution and environmental harm. It aims to be the number 1 clothing brand in the UK by 2050.
They currently employ 5 energetic and passionate staff and have a turnover of 1.5 million pounds
per annum. Recover Mania hopes to expand nationally, opening at least 5 retail outlets across the UK. However, they have exceeded their resources and looking for an investor to ignite their brand.
One of their main issues are to determine the characteristics needed for Recover Mania to remain successful. To establish this, they will need to investigate how other environmentally friendly fashion brands such as Pact prosper in their business.
As they aim to expand nationally, Recover Mania will need to undergo an investigation on how their business will contribute to the economy on an international, national, local, and regional level.
You have been asked to write a report to investigate and critically examine entrepreneurial ventures e.g., technology, social enterprise, the traits, characteristics, and mindset associated with entrepreneurship, using a range of examples. The report should include an evaluation of the similarities and differences between those ventures and their contribution to an entrepreneurial mindset i.e., lifestyle, growth firms, innovation and what it can bring to a new venture.
Assess the impacts of two businesses, Recover Mania, and Pact on an international, national, regional and local levels using appropriate data and statistics. You should interpret relevant data and statistics and compare the difference between Recover Mania and Pact (micro, small, medium, and large businesses) and their impact on the economies.
Finally, you should evaluate the use of intrapreneurship and the benefits it can bring to ‘Trashion’. The evaluation should include:
- the differences and similarities between the public and corporate intrapreneurship.
the benefits of intrapreneurship and its contribution to competitive advantage in ‘Recover Mania’, (i.e., importance of innovation, sustainability, and adaptability in business). Provide some examples.
