Entrepreneurship and Innovation Essay Example | Topics and Well Written Essays - 2500 words

Entrepreneurship and Innovation - Essay ExampleDragons Inc. in the Chinese market. Dragons Inc. operates as a group of entrepreneurs which significantly focuses on delivering advanced proceedss to the market. With the concept of innovation, The Presto Soup E-duper is one of the recently developed kitchen appliances of the organization which involves multi tasking facilities including mixing, blending as well as crocking capacity. The organization manufactures its advanced(a) products which facilitate the customers to obtain new experiences of technological advancements and preparing tasty as well as health food items in a lesser time and in a cost-convenient way. The Soup E-Duper will be produced by Kitch-in-Zinc Plc, especially to target the new customer segments in the Chinese market. Therefore, the paper intends to prepare a viability narrative of Soup E-Duper in the Chinese market by considering the major factors of the marketplace, product and manufacturing issues that might to be faced by the organization. Moreover, the discussion of the report will set ahead focus on developing an effective business plan for the organization to successfully operate Soup E-duper in the Chinese market. Part One abbreviation of the Chinese Marketplace External Business Environment The business environment in China can be identified as sustainable for external companies which are mostly related with manufacturing industries, or tourism or education sectors. For instance, the current political and economic environment of the nation depicts the elements to be in party favor of companies which attempt to set-up its manufacturing operations in spite of appearance the country with the belief that it would increase job opportunities for the Chinese community and simultaneously facilitate the growth of the overall economy. Furthermore, China in like manner encourages foreign investment from companies which belong to the nations aligned through World Trade Organisation (WTO ) and other treaties with the economy (Yueh, 2012). Notably, as it can be identified that the product intended to be manufactured in China, i.e. Soup E-Duper, is patented by a UK based entrepreneurial group, Dragon Inc. and excessively manufactured by other European firm Kitch-in-Zinc Plc, the business plan can attain greater benefits even in relation to legal obligations. Furthermore, as the economic conditions prevailing within the Chinese market can be observed as growing with stability, it can be affirmed that the marketing prospects of the business plan can also be expected to yield better returns as per the expectations of the investors, including Dragon Inc. and Kitch-in-Zinc Plc. It is worth mentioning in this regard that with the growing GDP of the economy, which is currently recorded as 7.8%, the life style preferences are also enhancing within the Chinese community (Yao, 2012). This can further be attributed as a positive aspect for the successful accomplishment of the objectives considered in this business plan. The offered product, i.e. the Soup E-Duper allows enhanced lifestyle to its customers rendering the facilities of easy blending, mixing, and processing through crock pot. It is also intended to