Task 4

Task 4:

This task is related to the entrepreneurship. Consider first what do the intrapreneuership and the entrepreneuership mean. How is the internal entrepreneurship reflected in the practice?

The task is also to establish a caring company, or other social and health care sector firm. An establishment of a company is related to an integral part of the business plan making. Explain the importance of a business plan in a business start-up process. You can use a pre-format for the business plan.

What are the special features related to the field of Sote entrepreneurship?

Here is the main content of the business plan:

• Vision and Strategy

Our vision is to create a easy to use, accessible and affordable method of storing information regarding patients and their healthcare in hospice and nursing home enviroments. The currents systems in use are too expensive or hard to manage. We will achieve this via cooperation with people who have expertise in the field of information management programs and coding.

• Business idea

What are you selling? To whom are you selling? How are you selling?

As mentioned, we are developing and marketing a new modernized method of keeping track of a nursing home’s or hospices clients healthcare and medication information. We’re selling our program to private nursing home’s and hospices. We’re marketing our database-program as a more simplified and easy method with easily available information as a cheaper and more reliable alternative to currently used patient information management programs.  

• Strenghts of the entrepreneur

The company's founder’s expertise, experience, strengths, industry knowledge and networks.

The company founder’s expertise lies in his knowledge in nursing, and his contacts in        

              information management professionals.

• Products and services

The competitive environment of the offered products, brand image, the desired competitive advantage and the price level.

The competitive effect is achieved by marketing the product as easy to use in contradiction to present hard to use and often too multidimensional information tools. The price level would be adjusted to be more affordable than other options.

• Customers and market

Customer groups or target groups, their buying behavior, location, number and the ways to outreach.

The market situation in the sector and area of ​​operation, the relationship of demand and supply, competitors' strengths, weaknesses and strategies, differentiators over its competitors.

As the market is revolved around few badly functioning programs, the way would be open for a very polished and well marketed product. In other words I predict that there would be demand for this product. Competitors in the market are in my opinion very weak and the nature of competiting products is easily surpassed. Competitors are either badly designed or very expensive, to the extent of private nursing homes being unable to afford them.

• Practical arrangements
  Facilities, location, the necessary equipments, employees and the start-up financing, advertising and marketing, insurances, accounting and others.

The facilities would be easily organized, needing only office space and computers for the employees. Start-up financing would be asked from multiple parties. Employees could be easily found using the company founders contacts regarding people having IT- experience. Accounting, marketing and insuring elements would be hired from outside of the company.

• Financing calculations
  Investments in facilities and equipment, the need of capital for incorporation costs and the first months of operation, the means of financing.

Financial calculations would be done by the company manager as he believes himself good with keeping numbers. As the running costs of the company would be quite small in the start, a modest loan would be satisfactory in starting the company.