Strategy for the Development of an Entrepreneurial Firm

The aim of our thesis is to develop a growth strategy for an entrepreneurial firm by creating a business plan for a small business in the eastern district of St. Petersburg. Our clients are a couple who have opened a private school for elementary school children called “School of Kind Wizards” in the New Okkervil district. To analyze the situation, we turned to thematic interviews with the business owners as the basis, in order to formulate a research question and define our main goals. We articulated the primary entrepreneurial goals, mission, and vision, identified competitive advantage, and value proposition. In the literature review, we delved into the theory of entrepreneurial development strategies put forth by Sara Sarasvati in 2001. In analyzing the situation, we conducted a comprehensive market analysis, competitor analysis, VRIO, SWOT, and PESTEL analyses. Ultimately, we crafted a business plan to enhance the firm's visibility, which should lead to increased revenue and brand status. Our business plan is based on innovation management theory, within which we defined the entrepreneurial firm's position in the 4Ps Innovation Space Model. We developed a detailed content plan to expand the audience and brand development, calculated a financial model for the organization, and ultimately systematized risks based on their probability and impact. In the conclusion section, we highlight several limitations encountered during the thesis work and summarize a future agenda for further research.