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1. Running Head: CT ENTREPRENEURSHIP 1
CT ENTREPRENEURSHIP: ALL FIVE QUESTIONS NUMBERED BELOW
The Olive-Oil Bakery Business Venture
Name
Name of Institution
March 10, 2016

2. CT ENTREPRENEURSHIP 2
The Olive-Oil Bakery Business Venture
1. Entrepreneurship is the process through which individuals and teams bring together
the necessary resources to exploit opportunities and in doing so create wealth, social
benefits, and prosperity. It is centrally focused on the identification and exploitation of
previously unexploited opportunities. The job of an entrepreneur is to locate new
ideas, to determine whether they are actual opportunities, and, if so, to put them into
action.
Assume that you want to venture into a new enterprise. Consider one opportunity that
you think can be exploited. Describe your interests and passions in that opportunity.
Then, identify your capabilities to solve the problems in the opportunity you have
decided to venture.
[10 marks]
Interests and passions in that opportunity
A bakery, despite it long known traditional existence within the various global societies, still
plays a paramount role within the food processing industry. Well, the current technological
advancements may have overseen better food preservation practices resulting in semi-automatic
and fully automatic bread and biscuit making plants. Such a factor could have an adverse impact
on the need of bakeries within the current societies. Nonetheless, as provided by Cousens et al.
(2009), a large number of people prefer fresh bread and other products from the bakeries. Such
growth in preference for fresh bakery products as well as in the general societal population
within the Lanteh region has provided the major consideration for initiating this bakery project:
The Olive-Oil Bakery project.
[10 marks]

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Capabilities to solve the problems in the opportunity
Implementing a wholesale bakery business venture may take a levelly large sum of investment.
However, the Olive-Oil Bakery business venture aims at using the least cost production strategies
to make the highest possible production in a single day. The original setup will implement six
bakery units; three for bread and three for cake products. To make the highest productions possible
given the investment, Olive-Oil Bakery shall make 24 hours products with 45 workers. Production
is divided into three sessions on a day where 15 workers; 5 chief cooks and ten assistants, shall
register for the first 8hrs of the day while the rest follow-up in the following sessions. Each bakery
unit shall have one chief cook and two assistants at every running instance. Advantageously, Olive-
Oil Bakery shall be situated within the Lanteh Market region implying high labor availability and
at low costs (Malakooti, 2013).
2. Based on the opportunity that you have identified in question 1, write a concept
summary using the following format:
The Elements of a Business Concept Summary:
a) Explain the problem or need and identify the customer.
[10 marks]
Problem or need and the customer.
The urge for fresh and high-quality bread and cake products by customers have forced the grocery
stores operators within the Lanteh region to either incur high production costs or face low sales for
these products. This is since, fresh and high-quality bread and cake production require daily
production and at low quantities which is levelly expensive for a typical grocery store. Similarly,
if the grocery operators opt for low-quality productions, their customer fail to appreciate the end

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products and hence to result in low sales not only for the bread and cake products but also to all
the other products in the grocery stores. Unfortunately, there are no fresh bread and cakes bakeries
within the Lanteh region. Those that manage to fetch in these products do so at levelly high costs
given the excessive transportation costs made on a daily basis.
b) Explain the proposed solution and the uniqueness of the solution.
Proposed solution and the uniqueness of the solution.
Given the Lanteh region and more so the Lanteh Market region, the Olive-Oil Bakery aims at
behaving as a large scale producer and supplier of fresh and high-quality bread and cake
products. Olive-Oil Bakery targets the grocery stores operators and other retail shops within the
Lanteh region as the primary customers (Malakooti, 2013). The uniqueness of this solution, as
opposed to the single productions by the individual grocery stores within the region, is that items
manufacturing and production shall be made on a daily basis. Consequent to this is a daily
supply of these products to every esteemed customer within the Olive-Oil’s range of service.
Also, the ability to make productions in large quantities makes it easy for the bakery to make
high-quality products and offer the end products at the least cost possible to its customers.
C) Explain why the customer will pay for the solution.
Why the customer will pay for the solution.
Fresh bread and cake products mark the essential complement to all other products in a grocery
store or a retail shop. This implies that when the customers are unhappy concerning the essential
supplement, then the shops or store are likely to lose their customers. Therefore, as long as
Olive-Oil Bakery promises to make daily deliveries of fresh and high-quality bread and cake

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products at low costs in such a way that the customers to the shop and grocery stores remain
entertained even to by other store products, then the shops and stores have no option except to
maintain their daily order brackets from Olive-Oil Bakery.
 As a new enterprise, you probablyhave to face the challengesto start a business.Barriers
to entry are factors that make it costly for companies to enter an industry. What do you
think will be the potential barriers for you to enter into the industry at your country?
The potential barriers to entering into the industry
The beginning instance of Olive-Oil Bakery I meant to operate within the Lanteh region only.
Therefore, as long as all the production metrics are taken care of, the largest barrier or challenge
the bakery is likely to face is limited to its product supply and delivery margins. Customers make
orders daily, and deliveries need to be made on a daily basis too. This implies that an ultimate
strategy is required. One that will help Olive-Oil overcome the old product delivery barriers caused
either by delayed order requests from the customers or unclear routes of delivery.
[10 marks]
4. Every new venture has a strategy or approach to achieve its goals and overcome
challenges. A strategy is a plan or road map of the actions that a firm or organization
will take to achieve its mission and goals, but it is not static. What will be the strategy
of your new venture to achieve your goals?
The strategy to achieve the business goals
The efficiency of services and product delivery mark the most important element of business cost
benefits management. With higher efficiency in services delivery, a business not only benefits
from reduced production cost and increased product profits but also from risen market

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competitiveness. Olive-Oil Bakery, therefore, needs to identify a distribution and supply chain
model that best improve the efficiency of services delivery.
The model selected, in this case, is the electronic supply model. Olive-Oil Bakery shall have its
distribution horizontal distribution patterns to the specific retailers, groceries, and supermarkets.
However, for the bakery products to gain pass from the bakery stores for distribution to the
different destinations, an E-commerce supply chain model shall be used (Sarkis & Talluri, 2015).
This implies that Olive-Oil Bakery shall have a website front from which the different customers
shall be able to make order bookings alongside with the amount, delivery date, preferred delivery
means, and payment model to use (Zank & Vokura, 2013).
[10 marks]
5. Your idea for the new venture in digital environment is considered new and has a
great potential. Describe your strategy for protecting the intellectual property of your
product.
Strategy for protecting the intellectual property of your product.
Intellectual property marks the most important element of business differentiation. It is the whole
element that a company can use to obtain a higher competitive advantage to its old and upcoming
rivals (Cousens, Szwejczewski, & Sweeney, 2009). To Olive-Oil Bakery, the intellectual property
includes the recipes for the bread and cakes that result in the so branded high-quality products. As
such, protecting this intellectual property remains a high-edge goal for the business.
Olive-Oil shall invest strongly in well-written non-disclosure agreements with its employees as a
strategic approach to protecting its intellectual property. Parameters such as employment

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agreements, sales contracts, technology transfer agreements, and licenses shall be put in place to
ensure that the strategy plays its part.
Reference List
Cousens, A., Szwejczewski, M., & Sweeney, M. (2009). A process for managing manufacturing
flexibility. International Journal of Operations & Production Management, 29(4), 357-
385.
Malakooti, B. (2013). Operations and Production Systems with Multiple Objectives. . New York:
John Wiley & Sons.
Sarkis, J., & Talluri, S. (2015). Evaluating and Selecting E-Commerce Software and
Communications for a Supply Chain. European Journal of Operational Research, 159,
318-329.
Zank, G., & Vokura, R. (2013). The Internet: Motivations, Deterrents, and Impact on supply
chain Relationships. Advanced Management Journal, 68(2), 33-40.

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