ENTREPRENEURSHIP

Quarter I RELEVANCE AND KEY CONCEPTS OF COMMON AND CORE

COMPETENCIES IN ENTREPRENEURSHIP

Content Standard Introduction

Relevance of the course
Content Standard The learner demonstrates understanding of the key
concepts, underlying principles, and core competencies
in Entrepreneurship.
Performance Standard The learner independently creates/provides a quality
and marketable product and/or service in
Entrepreneurship.
Learning Competency Discuss the relevance of the course
Objective/s 1. Discuss the relevance of entrepreneurship
2. Identify the words that are related to
entrepreneurship.
3. Differentiate Entrepreneur and entrepreneurship

ACTIVITY 1

Entrepreneurs are GREAT!

Warmer and Vocabulary

Directions: Read the words and phrases in the Word Cloud.

1
 Choose 5 words and use them in sentences.
Are there any words and phrases you don’t understand? Cite them.
Pick out a word or phrase and use it in the sentence.

Words/Phrase Possible sentences

Words/phrases you don’t understand:

______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________

GUIDE QUESTIONS:

1. What is the connection of the word and phrase given in the activity?
2. What do you think is the main focus of the lesson?
3. From the words and phrases in the word cloud, which can you
personally relate with? Discuss briefly.
4. What’s the difference between Entrepreneur and Entrepreneurship?

REFLECTION

In the global arena of the 21st century landscape, what do you think is the
role of an entrepreneur and entrepreneurship in the lives of the learners like
you?

2
 ACTIVITY 2

Let’s Play…BINGO!

All the words and phrases in the Word Cloud appear in a video about
entrepreneurship. You can watch the video here:
http://www.youtube.com/watch?v=2Uyd5S1mZqY

Instructions:
1. Your teacher will give you a bingo card. Play bingo with the words and
phrases from the video about entrepreneurship.
2. Watch the video or listen to your teacher call out words/phrases from the
video.
3. Cross off the words as you see or hear them. When you have crossed off
a complete line of words, shout ‘BINGO!’ Continue watching the video until
someone crosses off a line of words/phrases on their grid and shouts
‘BINGO!’ again.

B A R R B

O P E Q R

D O S D I

D A E D L

S T E U L

R A V W I

S I M L A

N F S N

Z X D K T

3
GUIDE QUESTIONS:

How do you find the game?

What’s the game all about?

Does the game explain the relevance of the topic?

REFLECTION

After playing the game. How did you feel it? It’s the game help you to
deepen your interest engage in entrepreneurship?

REFERENCES:

http://www.youtube.com/watch?v=2Uyd5S1mZqY

4
 ACTIVITY 3

Brainstorming!

Instructions:

In pairs, discuss the following questions and try to write a definition together:

What is an entrepreneur?

An entrepreneur is…

…………………………………………………………………………………………………

…………………………………………………………………………………………………

………………………………………………………………………………………………

What is entrepreneurship?

An entrepreneurship is…
……………………………………………………………………………………………….

……………………………………………………………………………………………….

………………………………………………………………………………………………

REFERENCES:
http://dictionary.cambridge.org/
keydifferences.com/difference-between-businessman-and-entrepreneur.html

5
Answer Key

Activity 1 : Answers may vary

Activity 2 : BINGO CARD

B A R R B

O P E Q R

D O S D I

D A E D L

S T E U L

R A V W I

S I M L A

N F S T N

Z X D K T

ACTIVITY 3

Entrepreneur - An entrepreneur is comprehensively defined by Zimmerer &

Scarborough (2005) as someone who “creates a new business in the face of risk and
uncertainty for the purpose of achieving profit and growth by identifying significant
opportunities and assembling the necessary resources to capitalize on them” (p.3).
They are the ones who act on their business ideas.

Entrepreneurship – The capacity and willingness to develop, organize and manage

a business venture along with any of it risks in order to make a profit.

6
REFERENCES: www.teachingenglish.org @ British Council 2012

http://www.businessdictionary.com/definition/entrepreneur.html

For a dictionary definition, you might like to visit:

http://dictionary.cambridge.org/

CG PAGE 1 OF 7

7
ENTREPRENEURSHIP

Quarter I RELEVANCE AND KEY CONCEPTS OF COMMON AND CORE

COMPETENCIES IN ENTREPRENEURSHIP

Content Standard The learner demonstrates understanding of the key

concepts, underlying principles, and core
competencies in Entrepreneurship.
Performance Standard The learner independently creates/provides a quality
and marketable product and/or service in
Entrepreneurship.
Learning Competency Key Concepts of Common Competencies
Objective/s 1. Explain the key concept of common and core
competencies and;
2. Identify the key characteristics of an
entrepreneur.

ACTIVITY 1

PERSONAL ENTREPRENEURIAL COMPETENCIES (PECs)

INTRODUCTION

The term "ENTREPRENEURIAL COMPETENCIES" refers to the key

characteristics that should be possessed by successful entrepreneurs in order to
perform entrepreneurial functions effectively.
As part of your initial activity, you will be challenged to dig deeper on your
knowledge and previous experiences on the topic. Try to diagnose or assess what
you already know about PECs by answering Task 1.

Task 1 : Matching Type

Direction: Match the entrepreneurial competencies in column A with their meaning in

column B. Write the letter of the correct answer on the space provided before each
number.

8
 Column A Column B

1. Initiative A. Working diligently

2. Action taker B. Adoptable to change
3. Persistence C. Make use of influential people to
4. Information Seeking reach his business goals
5. Concern for High Quality of Work D. Influence others for mobilizing
6. Commitment to Work Contract resources, obtaining inputs,
7. Efficiency Orientation organizing products and selling
8. Systematic Planning his products and services
9. Problem Solving E. Confronts problems with others
10. Self-Confidence directly
11. Assertiveness F. Has a strong belief in self and
12. Persuasion own abilities
13. Use of Influence Strategies G. Identifies new and potentially
14. Ability to accept change unique to achieve his goals
15. Hardworking H. Develops and uses logical step-
by- step plans to reach goals
I. Always find ways to do things
faster or with fewer resources or
at a lower cost
J. Places the highest priority on
getting a job completed
K. Acts to do things that meet
certain standards of excellence
which give him greater
satisfaction
L. Take action on how to seek
information to help achieve
business objectives or clarify
business problems
M. Make repeated efforts or to take
different actions to overcome an
obstacle that get in the way of
reaching goals
N. Always look for and takes action
on opportunities/ Sees and acts
on opportunities
O. Take actions that go beyond his
job requirements and to act
faster

9
Answer Key :

1. O
2. N
3. M
4. L
5. K
6. J
7. I
8. H
9. G
10. F
11. E
12. D
13. C
14. B
15. A

REFERENCES:

Team Academy-Performance Management/Digital Textbook Library

(http://www.tankonyvtar.hu/en)

10
ENTREPRENEURSHIP

Quarter I RELEVANCE AND KEY CONCEPTS OF COMMON AND CORE

COMPETENCIES IN ENTREPRENEURSHIP

Content Standard The learner demonstrates understanding of the key

Performance Standard
Learning Competency
Objective/s
concepts, underlying principles, and core
competencies in Entrepreneurship.
The learner independently creates/provides a quality
and marketable product and/or service in
Entrepreneurship.
Key Concepts of Common Competencies
1. Assess Personal Entrepreneurial
Competencies
2. Acquaint contextualized skills that will be useful
for an entrepreneurial venture

ACTIVITY 1

Personality Traits for Entrepreneurs

Rating Worksheet

Directions:

Test yourself by checking the following questions. There are no right or wrong
answers. Circle the answer that indicates what you feel or comes closest to it. Be
honest with yourself.

1. Initiative/Self starter
a) I do things on my own. No one has to tell me to get going.
b) If someone gets started, I keep going all right.
c) Easy does it. I don’t put myself out until I have to.

2. Attitude toward Others

a) I like people. I get along with just about anyone.
b) I have plenty of friends; I don’t need anyone else.
c) Most people irritate me.

3. Leadership
a) I can get people to go along with me if I start something.
b) I can give orders if someone tells me what we should do.
c) I let someone else get things moving; then I go along if I feel like it.

11
4. Responsibility
a) I like to take charge of things and see them through.
b) I’ll take over if I have to, but I’d rather let someone else be
responsible.
c) There’s always some eager beaver around wanting to show how
smart he or she is. I say let them.

5. Organizer
a) I like to have a plan before I start. I’m usually the one to get things
lined up when the group wants to do something.
b) I do all right unless things get too confusing; then I quit.
c) Just when I’m all set, something comes along and presents too
many problems, so I just take things as they come.

6. Industrious
a) I can keep going as long as I need to. I don’t mind working hard for
something I want.
b) I’ll work hard for a while, but when I’ve had enough, that’s it.
c) I can’t see that hard work gets me anywhere.

7. Decision Maker
a) I can make up my mind in a hurry if I have to, and it usually turns out
okay, too.
b) I can, if I have plenty of time, make good decisions. If I have to make
up my mind fast, I think later I should have decided the other way.
c) I don’t like to be the one who has to decide things.

8. Sincerity
a) People can trust what I say. I don’t say things I don’t mean.
b) I try to be on the level most of the time, but sometimes I just say
what’s easiest.
c) Why bother if the other fellow doesn’t know the difference.

9. Stick to it/Perseverance
a) If I make up my mind to do something, I don’t let anything stop me.
b) I usually finish what I start if it goes well.
c) If it doesn’t go right, right away, I quit. Why beat my brains out?

10. Physical Energy

a) I never run down.
b) I have enough energy for most things I want to do.
c) I run out of energy sooner than most of my friends seem to.

11. Independence
a) Independence is important to me.
b) At times I like not having to make decisions.
c) I don’t want to be in charge.

12. Assertiveness
a) I am confident that I can meet and overcome obstacles.

12
 b) Usually obstacles do not block me from achieving what I want.
c) I often run into things that block me from achieving my goal.
13. Creativity
a) I enjoy trying new ideas and experimenting to improve the situation.
b) Innovation is helpful at times but being too inventive often wastes
time.
c) There are good reasons to stick to current ways of doing things.

14. Realistic
a) I generally find myself able to complete my plans.
b) My plans get done some of the time.
c) My plans are rarely accomplished. There is never enough time or
resources.

15. Entrepreneurial Spirit

a) I am willing to take calculated risks with my property when I have a
chance to gain by doing so.
b) I take risks when the odds are highly in my favor.
c) If I have any chances of losing, I won’t take a chance.

16. Self-Awareness
a) I understand my potential and myself.
b) I am hesitant about what I can do, but I try to push myself.
c) I don’t try anything.

17. Ability to Work with Others

a) I enjoy working with other people. I find I can be a team leader.
b) I sometimes find it hard to work with others.
c) I do my best work alone.

• Now count the number of times you circled either “a,” “b,” or c.” Record that
number in the spaces provided below.

Answer “a” __________ Answer “b” __________ Answer “c” __________

• If you circled “a” twelve or more times, you probably have lots of
entrepreneurial skills. If you checked “c” nine or more times, entrepreneurship
may not be your strong suit.

Answer Key : Answers may vary

REFERENCES:

• This worksheet was adapted from a worksheet in Stand forth, Nancy and
Glenn Muske. An Exploration of
• Entrepreneurship: Turning Your Passion into a Career, Oklahoma State
University, and Stillwater.

13
 ACTIVITY 2

ARE ENTREPRENEURS BORN OR MADE?

INTRODUCTION
Is there such a thing as a ‘natural-born entrepreneur’?
According to this idea, there is not. Specific techniques and habits must be practiced and
developed by all would-be entrepreneurs. Entrepreneurs need interpersonal and self-
leadership skills too; however, these are often overlooked. Core competences of a
business are guiding parameters for new markets and diversification.

Instructions:

Search in the internet ideas that will support whether an entrepreneur is born
or made. The class will divided into two groups. Group 1 will be the boys and the
group 2 will be the girls. Prepare for a debate tomorrow.

BORN MADE

GUIDE QUESTIONS:

1. Do you think entrepreneurs are made or born?

2. As an entrepreneur, wouldn't you rather say that you made yourself through
experiences than you were just born that way?"

REFERENCES:

AnitaRoddick Website n.d., accessed

23/04/2014,http://www.anitaroddick.com/aboutanita.php
Babson Executive Education Center 2003,
Entrepreneurs: Born or made? A conversation with Herb Kelleher of
Southwest Airlines
Accessed 22/04/2014,http://www.babsoninsight.com/babson/index.php
Daley, J 2013, ‘Are Entrepreneurs Born or Made?’, Entrepreneur, 19
September, accessed22/04/2014, Entrepreneur Media, Inc.

14
ENTREPRENEURSHIP

Quarter I RELEVANCE AND KEY CONCEPTS OF COMMON AND CORE

COMPETENCIES IN ENTREPRENEURSHIP

Content Standard The learner demonstrates understanding of the key

concepts, underlying principles, and core
competencies in Entrepreneurship.
Performance Standard The learner independently creates/provides a quality
and marketable product and/or service in
Entrepreneurship.
Learning Competency Key Concepts of Common and Core Competencies in
Entrepreneurship.
Objective/s 1. Explore job opportunities for entrepreneurship
as a career and;
2. Identify business opportunities

ACTIVITY 1

ENTREPRENEUR THE EXPLORER...

Group Activity… Share it!

Directions: Think of job opportunities for entrepreneurship as a career in your own

community. Write your answers inside the diagram shown below.

JOB OPPORTUNITIES

15
 ACTIVITY 2

Instructions:

Determine the most promising careers for aspiring entrepreneurs. And then
present it to class for the next session.

Answer Key :

Activity 1 Answers may vary

Activity 2 Possible answers

 Sales manager
 Lawyer
 Marketing manager
 Computer Systems manager
 Construction manager
 Registered Nurse
 Medical and health services manager
 Personal financial advisor
 Public relations specialist
 Sales representatives

REFERENCES:

 https://www.forbes.com/

 Escape from Cubicle Nation: From Corporate Prisoner to Thriving

Entrepreneur. By Pamela Slim and Guy Kawasaki.
 Entrepreneur's Notebook: Practical Advice for Starting a New Business
Venture. By Steven K. Gold.
 Small Business Start-Up Kit. By Peri Pakroo.
 Small Business for Dummies. By Eric Tyson and Jim Schell.
 About.com Guide to Becoming an Entrepeneur
 Entrepreneurship Test

16
ENTREPRENEURSHIP

Quarter I DEVELOPING A BUSINESS PLAN (DP)

Content Standard The learner demonstrates understanding of concepts,

underlying principles, and processes of developing a
business plan.
Performance Standard The learner independently or with his/her classmates
presents an acceptable detailed business plan.
Learning Competency Identify the market problem to be solved or market
need to be met/ CS_EP11/12ENTREP-Oa-1
Objective/s 1. Assess prior knowledge about business plan;
and
2. Explain why every entrepreneur should create
a business plan.
3. Discuss the importance in developing business
plan.
4. Identify the market problem to be solved or the
market need to be met

Pre –Activity in making a Business Plan

INTRODUCTION

The business plan is a tool designed to help you find and explore opportunities.
It also provides you with a way to analyze potential opportunities continuously. A
business plan is personal and should never be "canned" or prepared professionally by
others. No one knows you or your ideas better than you do. It is the process of seeking
the answers to important questions about your enterprise that are important as you try
to realize the dream of owning your own business. (Adopted from PACE, Unit 5,
Business plan.)

Instructions:

Use the following questions to make decisions about a business idea of your choice.
Be sure to write out your answers...to remember your decisions and build on them.

1. How can you describe the business? (in only one paragraph please)
2. What is your product, or service?
3. Who are your clients/customers?
4. Where should the business be located?
5. How can you attract customers?

17
 6. Do you have a competition?
7. How much should you charge for your products or services?
8. What advice do you need and who can provide it?
9. How will you organize the managers and/or workers of the business?
10. How will you split the profits? Who is responsible for the losses?
11. What should you consider to be able to produce the product and get it to the
customer?
12. How much money is needed to get the business started?
13. How many customers will you have per month and how much will they buy
per month?
14. How much does it cost to make the product or provide the service?
15. What are your operating costs? (Include your own salary)
16. How much money will your business earn each month by selling your product
or service?
17. How much investment will you need to keep the business going until you
make a profit?
18. What is your potential profit per year for Year I, Year II, and Year III?
19. How much money do you need to borrow to start this business?
20. How will you make the business grow in the future?

For teachers use only.

There are other questions you might ask depending on the type of business
you have in mind. There are many different formats for a business plan based on
what you need for the business of your choice. The point is to start asking yourself
questions and then looking for the answers.

GUIDE QUESTIONS:

1. Are you having trouble getting started? Perhaps you should interview a local
business owner about these decisions in relation to the startup of that
business.
2. Write down the answers and discuss them with other students to decide how
you would have started such a business.

REFERENCES: PACE, Unit 5, Business Plan, Center of Education and Training

for Employment, the Ohio State University, 1900 Kenny Rd.
Columbus, OH, 43210.

PACE Program for Acquiring Competence in Entrepreneurship

Httpp://www.entrep-ed.org/_teach/busplan.htm

18
 Let’s Work Together!

INTRODUCTION

Entrepreneurs who plan to enter any business endeavor must have a

business plan on hand to guide them throughout the process. Beforehand, feasibility
study is conducted before the business plan.

Instructions:

Conduct Pre- feasibility study by using the easy steps below that can help to
identify a viable business venture. Choose one opportunity that your group wants to
pursue. Take the scores from the opportunity screening matrix into consideration. Of
course, the final decision will be made based on your own preferences.

A. Market Potential
1. Target Market
2. Competition Assessment
3. Estimated Market Share and Sales
B. Technology Assessment and Operations Viability
C. Investment Requirements and Production/ Servicing Costs
1. Investment Requirements
2. Production Servicing Costs
D. Financial Prospects

GUIDE QUESTIONS:

A. 1. Describe in detail who your targeted customers are?

2. Describe who your competitors are. Identify their strengths and
weaknesses
3. What portion of the market can your business attract? Based on this,
come up with a monthly sales forecast.

B. Accomplish the Operations Viability Assessment Table for the business

proposal. What outcomes are desired by the costumers? What process
and inputs are necessary to achieve these outcomes?

C. 1. Identify the pre operating costs, facilities, investments, and working

capital investments needed to jumpstart your business?

2. Identify all operating costs. What is the total monthly operational cost of
running the business?

19
 D. Create a monthly income statement based on the estimated operating
costs and sales forecasts.

ENTREPRENEURSHIP

Quarter I DEVELOPING ABUSINESS PLAN (DP)

Content Development of Business Plan

Content Standard The learner demonstrates understanding of concepts,
underlying principles, and processes of developing a
business plan.
Performance Standard The learner independently or with his/her classmates
presents an acceptable detailed business plan.
Learning Competency Recognize a potential market
CS_EP11/12ENTREP-Oa-1
Objective/s 1. Identify the market problem to be solved or the
market need to be met
2. Identifies the strength and resources available in
the community to meet the needs.

INTRODUCTION
To deliver products that solve your customers’ problems, you must first
identify the market problems. These market problems may be stated directly as
costumers needs.

Instructions:

Let the learners know the market problem considering the following market:
the existing customers, prospects, and target market users.

MARKET MARKET PROBLEMS

Existing Costumers

Prospects

Target market Users

20
GUIDE QUESTIONS:

1. List down the market problems you might encounter.

2. What problem does this solution solve?
3. Is this a problem experienced by your target market?
4. What would your target market do if you did not solve this problem?

REFERENCES:

Stull, C., Myers, P. & Scott D.M. (2008).Tuned in: Uncover the Extraordinary
Opportunities that Lead to Business Breakthrough. Hoboken, New Jersey; John
Wiley and Sons

21
Quarter I DEVELOPING ABUSINESS PLAN (DP)

Content Development of Business Plan

Content Standard The learner demonstrates understanding of concepts,
underlying principles, and processes of developing a
business plan.
Performance Standard The learner independently or with his/her classmates
presents an acceptable detailed business plan.
Learning Competency Recognize a potential market
CS_EP11/12ENTREP-Oa-2
Objective/s 1. Propose solution/s in terms of product/s and
service/s that will meet the need using
techniques on seeking, screening, and seizing
opportunities

Opportunity Seeking in the Million Peso Investment

(Group Activity)

An investor has given you P 1,000,000,000.00 to start a business in response

to the opportunities that you have figured out on your own. What would you do?

Instructions : To help you out with this project, follow the instruction below.

1. List at least five (5) opportunities that can be found in your surrounding area.
2. Brainstorm on what businesses are possible for each opportunity. You or your
assigned group member should have at least two business proposals for each
activity.
3. Compile the listed opportunities and business proposals into a report following
the format below.

Opportunity Business Proposal

1. 1.1

1.2
2. 2.1

2.2

4. Be as creative as you can be! Don’t be afraid to tackle difficult opportunities

or to come up with expensive ideas. Assume that you have P1, 000,000.00 to
invest.

22
 5. Discuss your opportunities and business proposals with your teacher or
mentor. His/her should help you decide on the top three to five (3-5) most
promising proposals.

REFERENCES: Entrepreneurship by dr. Eduardo A. Morato, Jr.

Applied track for Kto12, First Edition. Chapter 2 Opportunity
Seeking, Screening and Seizing

23
 The Opportunity Screening Matrix

(Group Activity)

Screen each of the opportunities of the opportunities that you have chosen in
Activity 1 using the 12 R’s and the Opportunity Screening Matrix provided.

Directions :

1. Give a weight for each R or each criterion. The more importance you give to a
criterion, the higher the weight.

2. Rate the quality of each opportunity in relation to the 12 criteria. For the first
10 R’s, 5 is the best score. For the last 2 R’s (Resources and Risk), the
scoring is reversed. Very high resource requirement means a score of 1, while
very low resource requirement mean a score of 5. The more resources
needed, the less attractive the opportunity.

3. Multiply the rating for each criterion with the assigned weights to come up with
the score.

4. Total the weighted score.

5. Repeat the process for all of your listed opportunities.

The opportunities with the highest total scores are likely the best ones
for you.

Criteria Very High Average Low Very Sample Score

High Low Weight
Opportunity Screening Grid for each Opportunity
Rating 5 4 3 2 1 Weight Score
Relevance
Resonance
Reinforcement
of
Entrepreneurial
Interest
Revenues
Responsiveness
Reach

24
 Range
Revolutionary
Impact
Returns
Relative Ease of
Implementation
Rating 1 2 3 4 5
Resources
Required
Risks
Total Score

 Rating x Weight = Score

REFERENCES: Entrepreneurship by Dr. Eduardo A. Morato, Jr.

Applied track for Kto12, First Edition. Chapter 2 Opportunity
Seeking, Screening and Seizing

25
 Opportunity Seizing: Competitor Analysis Grid

(Group Activity)

Screen each of the opportunities that you have chosen in Activity 1 using the
12 R’s and the Opportunity Screening Matrix provide.

Instructions :

1. Choose an industry with several strong competitors. An example would be

fast food industry, footwear industry, or apparel industry.
2. Try to come up with your own version of Grids 1,2, and 3
 Grid 1 : Analysis of Competitors Products
Example:

 Grid 2 : Quality versus Price Positioning of Competitors

 Grid 3 : Sales Volume versus Main Value Proposition

3. Share your grids with your classmates and/or teacher for critiquing and
improvement purposes.

REFERENCES: Entrepreneurship by Dr. Eduardo A. Morato, Jr.

Applied track for Kto12, First Edition. Chapter 2 Opportunity
Seeking, Screening and Seizing

26
Quarter I DEVELOPING ABUSINESS PLAN (DP)

Content Development of Business Plan

Content Standard The learner demonstrates understanding of concepts,
underlying principles, and processes of developing a
business plan.
Performance Standard The learner independently or with his/her classmates
presents an acceptable detailed business plan.
Learning Competency Recognize a potential market
CS_EP11/12ENTREP-Oa-3
Objective/s 1. Analyze the market needs; and
2. Assist in identifying competitors and market
trends

(Group Activity)

INTRODUCTION

The key part of your marketing plan is the market analysis. A market analysis
gives your marketing plan direction because it identifies and profiles your target market
and its needs. Market needs tell you what features of your product will appeal to your
target customer so you can frame your marketing message to emphasize those
features. Market analysis also compares your product and customer experience
offerings to those of your competition, allowing you to strategically cater to your
customer's market needs in a way your competition does not.

Directions

Students will be divide into groups. Each group will consider the following:

You are setting a “fast food service”. Segment the market and determine your target
market.

GUIDE QUESTIONS:

1. Understand who your target market is. That will help you to create a name
and slogan that resonates with your costumer
2. What is the best way to segment each of these markets?
3. Which is the most attractive segment?
4. How can they be better than the competition-(Differentiation)
5. Why people would buy your product?

27
 Let’s Take A Look! And Analyze…

(Group Activity)

Directions:

Observe the different food kiosks serving the same type of product (fish balls, fruit
drinks or any other product).

GUIDE QUESTIONS:

1. What differentiates the product of one stall from the other?

2. Which kiosks or stall sells the most of that same product?
3. Why do you think they sell more of that same product to the costumers?
4. What is their winning differentiator?

REFLECTION:

Which competitors in a particular industry are doing better than the others and why?

REFERENCES: A Trilogy on Entrepreneurship by: Dr. Eduardo A. Morato Jr.

28
 Choosing a Product/Service to Sell…

Self- Assessment!

INTRODUCTION

To succeed as an entrepreneur, you must develop the ability to select and

offer the right products or services to your customers in a competitive market. More
than any other factor, your ability to make this choice will determine your success or
failure. The most important thing you can do before deciding what to sell is to think.
And the more you think about a product or service before you bring it to market, the
better your decisions will be. (Adopted from Brian Tracy “Success Secrets” at
Entrepreneur.com)

Instructions:

So how do you start? To make a product successful, you must be personally

and emotionally be committed to its success. Once you have a product or service in
mind, you need to begin with a self-analysis:

Consider the following questions:

A. Self-Analysis
What kinds of products do you like, enjoy, consume and benefit from?
Do you like the product or service you're planning to sell?
Can you see yourself getting excited about this product or service?
Would you buy it and use it yourself?
Would you sell it to your mother, your best friend, your next-door neighbor?
Can you see yourself selling this product or service for the next five to 10
years?
Is this a product or service that you intensely desire to bring to the
marketplace
Then analyze the product or service from the customer's point of view:

B. Product Analysis
What does the product achieve, avoid or preserve for the customer?
How does the product improve your customer's life or work?
What kind of customers will you be selling the product to?

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 Do you personally like the customers who'll be buying this product or
service
Is there a real demand for the product at the price you'll have to charge?
Is the demand large enough for you to make a profit?
Is the demand concentrated enough so you can advertise, sell and deliver
the product at a reasonable expense?

What is to be sold, exactly? Describe the product in terms of what it does

for the customer.
To whom is the product going to be sold? Describe your ideal customer.
What price will you have to charge for the product for it to be profitable?
Who's going to sell the product?
How is the product to be sold? What method of sales, or process of
promotion, will you use?
How is the product or service to be manufactured or produced?
How is the product going to be paid for and by whom?
How is the product or service going to be delivered to the customer?
How is it going to be serviced, repaired, guaranteed or replaced?
Is there a real need for the product or service in today's market?
Is your new product or service better than anything else currently
available?
What are the three ways that your product is superior to your competition?
Is your product lower priced or of better quality than anything else that is
available?
Do you think you could become the number-one supplier in the market for
this product or service?

Reference: https://.entrep.com/article78778

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Quarter I DEVELOPING ABUSINESS PLAN (DP)

Content Development of Business Plan

Content Standard The learner demonstrates understanding of concepts,
underlying principles, and processes of developing a
business plan.
Performance Standard The learner independently or with his/her classmates
presents an acceptable detailed business plan.
Learning Competency Recognize a potential market
CS_EP11/12ENTREP-Oa-4
CS_EP11/12ENTREP-Ob-c-5
CS_EP11/12ENTREP-Od-6
Objective/s 1. Determine the possible product/s or service/s
that will meet the need; and
2. Screen the proposed solution/s based on
viability. profitability, and costumer requirement;
and
3. Select the best product or service that will meet
the market need.

Let’s Do NAS (Needs Assessment survey)

Instructions:

1. Conduct a survey in a particular community identifying the needs of its

residents.
2. Classify its needs using this survey form:

Community Needs Checklist Form

Consumer Needs Basic Luxuries

Foods
 Street foods (ihaw-ihaw,
fishballs,, meat balls, squid
ball,etc.)
 Rice
 Meat Products
 Poultry Products
 Breads

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  Fish products

Water

Shelter

Clothing (RTW)
 Branded
 Local Brand

GUIDE QUESTIONS:

1. Based on the survey, what are the common needs of the residents?
2. Why should you do a need assessment survey?

REFLECTION

1. What do you think are the reasons for conducting this survey?
2. What is your goal in conducting a needs assessment survey?

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 INTRODUCTION

Failure of a product or service can produce an extremely negative impact on a

small business. To prevent this effect, small business owners conduct market
research before the release of a new product or service to determine if their offering
is likely to appeal to a target market of customers as intended.

Instructions:

Conduct a Demographic Survey to categorize customers into the following:

Name (Optional) : ______________________________________________

Demographic Survey Forms

Demographic Classification
Gender
 Male
 Female

Age
 12 years old below
 13 to 19
 21 to 40
 41 to 59
 60 and above

Income Classes

 Class A – More than 25,001

 Class B – 20,001-25,000
 Class C – 15,001-20,000
 Class D – 10,001 – 15,000
 Class E – Less than 10,000

Occupations
 Teacher
 Police

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  Nurse

 Teacher
 Police
 Manager
 Supervisor
 Seaman
 Engineer
 Others, Specify ___________

Domiciles (Area of Residence)

 Urban
 Rural

GUIDE QUESTIONS:

What factors should be considered and determining the products to be

offered in the market?

REFERENCES:

Nueber, K., et al. (1980). Needs Assessment: A model for community

planning. Beverly Hills. Ca: Sage Publications

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 Take A Look at Demand and Supply!

INTRODUCTION

By taking a close look at both the demand and supply side of your target
market, you’ll plan your introduction to the marketplace better and have a clearer
idea of its size. You’ll also be equipped with wider knowledge to make wiser
decisions, plus be better able to assess the risks and opportunities of potential
markets.

Instructions:

1. Get a feel for the direction the markets progressing in by surveying

customers and potential customers. Take a sample group of your target
market and interview them to assess demand for the products or services
in the prospective market.
2. Establish the current value of the potential market – competitors’ annual
sales will give you an indication of this. Work out the total value of the
market in overall sales, get a clearer estimate of what your market share
might look like.

GUIDE QUESTIONS:

1. What about an emerging market?

2. Is the market moving in the right direction?
3. Is the market moving at the right pace?
4. Is this market big enough to interest you?
5. Will it be sufficiently profitable?

REFLECTION

What basis do you need in determining the viability and profitability of a

particular business?
What product would you propose for your own community?

REFERENCES: www.investopedia.com/university/economics/economics3.asp

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