University

Module Title: BIT Professional Issues In ICT

Assignment Topic:

“Innovative Solutions for Ethnic Minority

Entrepreneurship: A Proposal and Reflective
Analysis”

Name:

ID:

Submitted to:

Submission Due Date:

Words Count (Excluding Cover Page, Flow Chart, Table of Content, References) = 2655

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Table of Contents
A. The Innovation..........................................................................................................................3
A.1. Introduction........................................................................................................................3
A.2. Discussion of the General Problem..................................................................................3
A.3. Description of the Innovation...........................................................................................3
A.4. Analysis of Unique Selling/Value Proposition.................................................................4
A.5. Resources Needed...............................................................................................................5
A.6. Stakeholder Engagement...................................................................................................5
A.7. Financial Requirements and Viability.............................................................................6
A.8. Evaluation of CSR Implications.......................................................................................6
9. Flowchart....................................................................................................................................7
B. Reflection...................................................................................................................................7
B.1 Introduction to Reflective Piece.........................................................................................7
B.2. Evaluation of References...................................................................................................7
B.3. Exploration of Learning and Understanding..................................................................8
B.4. Relating to Future Scenarios.............................................................................................8
B.5. Conclusion...........................................................................................................................9
References.......................................................................................................................................9

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A. The Innovation

A.1. Introduction

Ensuring the development of innovations is one key aspect of business in the world which keeps
changing so as to allow it to solve more problems and also get the opportunities. My aim is to
address the area of ethnic minority entrepreneurship, which relies on newly-created solutions
to take the best of the booming opportunities and to overcome the peculiar troubles of this
group. Through the application of knowledge gained from published academic works such as
Burns (2016), North et al. (2001), we aspire to establish strategies that will assist the ethnic
minority entrepreneurs to pave the economic development and social inclusion.

This innovation echoes the in-text communication about the inclusive entrepreneurship trend,
which prompts the creation of an environment, which in its turn serves the interests of all the
participants engaged in the business ecosystem. The purpose is to help ethnic minority
communities contribute to the sustainable economic progress by unveiling their hidden
entrepreneurial talent using a multifold approach that includes policy advocacy, capacity building
and community engagement.

A.2. Discussion of the General Problem

This is considered to be a great achievement by ethnic minorities because entrepreneurship can

be an alternative way to economic prosperity and social harmony. However, some obstacles
like deficient funds, administrative hurdles, and racial biases still hinder this possibility of racial
and ethnic diversity (Marlow, 2020). The main objective behind this introduction would be to
resolve these problems by means of supporting the ethnic minority entrepreneurs in the creation
of an ecosystem. As Ahmed and Shepherd (2010) mention, the discrimination and lack of
support for ethnic minority entrepreneurs is an institutional issue, something that requires
cooperation from several such stakeholders as governmental bodies, financial institutions,
educational institutions and local communities.

We believe in the process that is driven by mutual actions of everyone in creating the innovations
applied to the problems in the field of ethnic minority entrepreneurs by including influential
stakeholders like government officials, businessmen, organizers and entrepreneurs. Therefore, it

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is our mission to create a diverse entrepreneurial community and become a real productive force
for an economic improvement. The ultimate goal of our development strategy is it by different
courses, policy design programs and network and mentorship platforms.

A.3. Description of the Innovation

Our idea is designing the Ethnic Minority Entrepreneurship Hub (EME Hub) which is in essence
combination of physical and virtual platform that will offer ethnic minority entrepreneurs the all-
encompassing outreach between the starting and the end of their entrepreneurial way. One of the
main services and resources that the EME Hub will provide is incubation for businesses,
mentorship programs, funding possibilities, networking events and educational sessions tailored
for the particular needs of ethnic minority entrepreneurs (Ekanem and Wyer (2007).

In order to boost the influence level and reach of the EME hub, the hub develops partnerships
with government entities, financial sectors, and academic institutions. Also, it forms strategic
alliances with community-based organizations. It will enable the platform to leverage such
resources as they are already in place. Apart from the availability of physical space, the hub will
apply digital technology to make the link between the ethnic communities and entrepreneurs a
virtual one (Ekanem, 2010).

The primary objective of the EME Hub is to pin down barriers, to stimulate an entrepreneurship,
and empower the ethnic minorities into a small business by providing a friendly and calling
atmosphere that the aspiring entrepreneurs would use for obtaining the tools and the relevant
network essential for the success of their entrepreneurship.

A.4. Analysis of Unique Selling/Value Proposition

Our EME hub features a one of a kind approach to entrepreneurship just like that of ethnic
minorities. The unique service we offer includes assistance that is customized. Unlike the other
existing entrepreneurship support programs that usually have broad and generic content suitable
for all types of entrepreneurs, the EME Hub provides culturally sensitive and specifically tailored
resources attuned to the corresponding needs of the ethnic minorities (Marlow, 2020).

Besides this, the concern supports ethnic minorities' feeling that they belong to the community
by providing access to a network of mentors and peers who may also be facing the same
problems (Ekanem & Wyer, 2007). In the same way of uplifting the quality of the support

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received, this gives a general sense of upliftment which contributes to the entrepreneurs'
resilience and mental well- being.

Furthermore, and most importantly, the Hub for Ethnic Minority Entrepreneurism maximizes
accessibility and scalability, through incorporating technologies to enable ethnic minority
entrepreneurs of all backgrounds and geographic locations to access its services no matter their
geographical location.

A.5. Resources Needed

EME Hub is an institution composed of both real resources and intangible resources as they are
intended to help ethnic entrepreneurs grow. Material component comprises available materials
like computers, internet connectivity, and software programs which could be used for conducting
the online workshops and mentoring sessions (Ekanem, 2017). Moreover, human resources can
be used to carry out task such as event management, workshop and training events.

The intangible qualities are also just as important, such as the skills of consultant business
advisors, trusted mentors, and trainers having the right knowledge and experience to come to the
rescue of ethnic minority entrepreneurs (Ekanem & Wyer, 2007). Cultural understanding and the
right knowledge of the specific challenges the ethnic minority business members face are
attribute important to the persons of the expert team that work with the EME Hub.

Partnership with the concerned institutions, which include ethnic minority business associations,
chamber of commerce, academic institutions and government offices are of prime importance for
us to access additional resources, financial opportunities and to grow our reach into the
population.

The Implication of EME Hub has the physical infrastructure in place such as modern mall in
downtown with the intangible expertise involving the known local and global brands, to the
strategic partnerships that will support the ethnic minority entrepreneurs.

A.6. Stakeholder Engagement

Stakeholder engagement is a significant component of the Ethnic Minority Entrepreneurship Hub

(EME Hub) business plan. It is considered right before the launch as well as after.

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On the pre-launch level, you need to set up a dialogue with main stakeholders – ethnic minority
business owners, community leaders, government agencies, and funding bodies (Ekanem &
Wyer, 2007). Thus, according to the process of consultation this Hub of EME learn how the
range of services can be adjusted in such a way, that they would satisfy the specific requirements
of entrepreneurs of minority groups. The stakeholders’ viewpoints and experience informing the
service provider renders it capable to adapt its curriculum and materials accordingly.

Till the launch of EME Hub, pre- and post-marketing activities fulfill the primary objective of
awareness raising and positioning of the product within the community of ethnic minority
entrepreneurs and the general public. That would be achieved by organizing networking
meetings, sessions and workshops to reveal the abilities and inputs provided by the EME
Hub. Besides that, using digital channels, such as social media platforms, e-mail newsletters, or
any other employes engagement tool, is a very effective way to maintain productivity of
employees, provide knowledge and updates as well as last but not least stay reachable of
stakeholders.

A.7. Financial Requirements and Viability

The EME Hub (Ethnic Minority Entrepreneurship Hub) being set up demands budgeting to be
conducted with precision to guarantee the success and survival of the project. Essential initial
costs are infrastructure set up whereas staffing in addition to technological infrastructure and
marketing expenditure are the major initial costs (Ekanem, 2017). Another responsibility is the
ongoing cost which includes operational expenses, employments, plans making and the
maintenance of the Hub building as well (Bessant & Tidd, 2015).

In light of this, plans to finance operations are proposed, involving both public and private
sources among others. Financial assistance from grant-making agencies and government
programs that can give start-up capital and funding could be the foundation for the operations
funds of the EME hub (North et al., 2010). But, aside from it, co-operations with the corporates
or non-profit organizations present chances for financial support and valid resources (Bessant &
Tidd, 2015).

The financial viability of our EME Hub is questionable as our revenue streams have to be from
some forms of membership fees, sponsorship deals, event hosting and consultancy services

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(Ekanem, 2017). The support and resources including guides for business development for
minority entrepreneurs tailored to the needs of ethnic minorities offered by the EME Hub will
make it possible to grow the organization and ensure its survival, ultimately powering this
population to excel in the business realm.

A.8. Evaluation of CSR Implications

Ethnic Minority Entrepreneurship Hub (EME Hub) as a corporate is one of CSR practices that
target significant issues of the community and promote inclusive economic development. Using
the Triple Bottom Line (TBL) framework, the EME Hub endeavors to generate positive impacts
across three dimensions: people, planet and profit that have constituted the conceptualization of
sustainable business in the early days (Elkington, 1998).

Socially, the hub acts as a tool for inclusiveness by providing specific assistance and necessary
resources which lead to decrease in economic inequalities (Mair-Pascual & Marti,
2006). Ecologically, the hub uses viable measures like composting and preparing purely
ecologically measures within its operation (Hockerts & Wüstenhagen, 2010). For starters, the
EME Center is a component of economic development as it drives businesses and innovation
among the ethnic minority groups which in turn boosts the overall well-being of the society in
general according to (Rae, 2015).

Through embodying these dimensions the EME Hub contributes to the attainment of Sustainable
Development Goals (SDGs) by the United Nations and particularly those that deal with wipeout
of poverty, achievement of gender equality and economic growth (United Nations, 2015).

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A.9. Flowchart

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Figure 1: Showing the Process
B. Reflection

B.1 Introduction to Reflective Piece

This article reorders the trip to do the build-up of EME Hub, an innovation process, and what I
have learned by creating it. Through careful consideration I hope to reveal significant life-
changing accomplishments, along the way I discovered and overcome obstacles as well as to see
the changes I have undergone. Looking in the relevant literature and real examples from the
outside world I am going to tell my story of the process of innovation and its consequences for
business and innovation. We will examine how complicated the entrepreneurial and
technological process is and will find out some pros and cons connected to it.

B.2. Evaluation of References

The sources chosen as reference in the Ethnic Minority Entrepreneurship Hub (EME Hub)
project proposal did help the shaping of innovation course. Acclaimed academics like Burns
(2016) were a treasured source of knowledge as he discussed the topic of entrepreneurship from
different perspectives like startups, growth, and maturity of a business. North et al. (2001)
described the role of the public sector in SME innovation. This awareness created a base for
strategy development in favor of the succeeding SMEs.

Citing Marlow (2020) and Ahmed and Shepherd (2010) in their scholarly works, they discussed
the role of gender issues in entrepreneurship and what innovation management must be in
place. Ekanem's works (2007, 2010, 2017) offered useful insights on the ethnic minority
entrepreneurship experience, bank business, and the elemental necessities of business planning.

Besides, the perspectives from Bessant and Tidd (2015) shed light on the interaction between
innovation and entrepreneurship for sustainable development. As for the elkington (1998)
conception, it introduced the relationship between innovation, entrepreneurship and sustainable
development. As suggested by both Mair and Marti (2006) and Hockerts and Wüstenhagen
(2010), two secondary-level theoretical frameworks incorporated the EME Hub into the broader
framework of the society, which is in line with a new concept of entrepreneurship presented by
the UN through its Sustainable Development Goals (United Nations, 2015).

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Vast variety of academic resources made the base for the development of the innovation process
which was useful not only in the area of theoretical background but also in terms of the particular
facts that may express the following proposal in the best way possible.

B.3. Exploration of Learning and Understanding

Engaging the EME Hub development has been ascertained as and for me, and other active
volunteers, as the most innovative experience. It is clear now that the competitiveness is treated
as the next phase. Originally, I interpreted innovative initiatives as nothing but novel output/
products and services. On the other hand, while innovation might be more widely understood as
simply inventing new products or technologies, in fact it also can means methodical processes,
different styles of doing business, or addressing urgent societal issues. Inventiveness is not only
about developing or improving technologies but also embodies strategic insights, creativity, and
problem-solving in different settings.

Additionally, I am benefitted a lot from looking into the role of diversity among perspectives and
views needed of the stakeholders in the innovation process. Seeing the ethnic minority
entrepreneurs' problems and the need to consider more than ethnicity and variety shielding
innovations, I realized the importance of the inclusivity and diversity. Engaging such people
made me realize that comprehensive solutions that would address the concerns faced by such
societies ideally should be empathic and culturally sensitive.

Another essential insight for me was the role of interdisciplinarity and the fact that sustainability
considerations should be included in new ideas and innovations. Social entrepreneurship,
investigated in conjunction with sustainable development, lent a wider view on the scope of
innovation as a driver for fortifying impacts beyond the economic favors. This was, however, the
era when it became clear that companies shouldn't create values only for the benefit of
shareholders but for the whole society and a clean environment as well.

B.4. Relating to Future Scenarios

The process of founding and getting the Ethnic Minority Entrepreneurship Hub (EME Hub)
going has not only brought me a new set of skills but also given me perspectives I will
continually use to more effectively handle all the challenges real life throws at me. Initially, the
interdisciplinary feature of this project provided me with an insightful agenda of some of the

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approaches and methodological dimensions that can be used for handling some complicated
situations. This experience has not only helped me to improve my adaptability and facilitate my
drive to deal with ambiguity and change, which, essentiality, will be applicable in future
conditions where major uncertainty and change will be characteristic (Mair & Marti, 2006).

Likewise, interplaying with partners from different origins and businesses in cherish my
communication and personal skills. Communication that is effective serves as the basis of
building relationships, collaboration, or achieving common goals, all of which is key in ushering
in our future with the corporations and interests that are either diverse or same (Hockerts &
Wüstenhagen,2010).
Additionally, this project has also prompted me to think more about social entrepreneurship and
sustainable development, which for me is the ethical and social dimension of innovation. This
way, we create sustainable and responsible initiatives that will enrich society and ensure its
stability and resistance under future conditions.

B.5. Conclusion

The experience of people who are involved in the development of the Ethnic Minority
Entrepreneurship Hub (EME Hub) has been formatted by both aids and recommendations for the
future. The project became an arena of collaboration across disciplines leading to a feeling of
engagement and new ideas. On the other hand, limited resources were always faced on a day-to-
day basis. Although stakeholder management was the other aspect I had to deal with often. As I
look ahead, I see the opportunity in the value of preemptive communication and coordinated
strategic planning in the prevention of the occurrence of such problems. However, besides this,
the process of deep thinking with it helps me to learn more about different aspects of social
responsibility and sustainability in innovation. Going ahead, adhering to this principles in all
future projects is imperative if we want to make sustainable change and achieve long time
significant results. Conclusively, it was a beneficial journey of self-education for me, and it
informed my opinion on the topic of innovation and business.

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C. References
1. Burns, P. (2016). Entrepreneurship and Small Business: Start-up, Growth and Maturity.
Palgrave.

2. North, D., Smallbone, D., & Vickers, I. (2001). Public Sector Support for Innovating
SMEs: the Effectiveness of Support Measures in London’s Lee Valley Region. Small
Business Economics.

3. Marlow, S. (2020). Gender and entrepreneurship: past achievements and future

possibilities. International Journal of Gender and Entrepreneurship.

4. Ahmed, P. K., & Shepherd, C. D. (2010). Innovation Management: Context, strategies,

systems and processes. Prentice Hall, Pearson.

5. Ekanem, I., & Wyer, P. (2007). A Fresh Start and the Learning Experience of Ethnic
Minority Entrepreneurs. International Journal of Consumer Studies.

6. Ekanem, I. (2010). Liquidity management in small firms: a learning perspective. Journal

of Small Business and Enterprise Development.

7. Ekanem, I. (2017). Writing a Business Plan: A Practical Guide. Routledge.

8. North, D., Baldock, R., Ekanem, I., & Lewis, A. (2010). Is there a debt finance gap
relating to Scottish SMEs? A demand-side Perspective. Venture Capital.

9. Bessant, J., & Tidd, J. (2015). Innovation and Entrepreneurship (3rd ed.). Wiley.

10. Elkington, J. (1998). Cannibals with Forks: The Triple Bottom Line of 21st Century
Business. New Society Publishers.

11. Mair, J., & Marti, I. (2006). Social entrepreneurship research: A source of explanation,
prediction, and delight. Journal of World Business, 41(1), 36-44.

12. Hockerts, K., & Wüstenhagen, R. (2010). Greening Goliaths versus emerging Davids -
Theorizing about the role of incumbents and new entrants in sustainable
entrepreneurship. Journal of Business Venturing, 25(5), 481-492.

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13. United Nations. (2015). Transforming our world: The 2030 Agenda for Sustainable
Development. Retrieved from
https://sustainabledevelopment.un.org/post2015/transformingourworld

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