Page 1 of 3 CASE STUDY FOR ASSESSMENT 01 BUS202: BUSINESS PLANNING Page 2 of 3 Page 3 of 3 REFERENCE: Business Victoria (2019), From kitchen table to small business. [Online]; Accessed on 30 March...

BUS202: Business Planning
Table of Contents
Introduction    3
The Passion for Business and Innovation    3
Outsourcing and Capital Investment    3
Conclusion    4

References    4
Introduction
Innovation and creativity is closely aligned with what individual refer to business value. In fact, with the growth of the market in various dimensions, every new idea can be tuned into a good business proposition. All it needs is to have passion for doing business or to open the franchise in the market with the innovation and new norms of business. As per the observation of the provided case study, the manufacturing of the bibs became successful business venture to Murphy who could think of the same in the kitchen and went down to the level of innovation to give it the shape of proper business. it was her passion for developing the business structure that she continues to thrive in order to bring in the excellence in her new business norm but at the same time, she applies some conventional theories and models of operating into business.
The Passion for Business and Innovation
At first, it is significant to note here that the process of running new business for Murphy was not an easy task to accomplish. She had to go through some initial obstacles, which were theoretically applicable to the new business idea. She literally had the idea to develop the business but in a raw for; she mentions it in the interview that she was expecting to make her ‘baby’ a bigger one than the expectations of the people around him. In other words, she was anticipating...