Entrepreneurship Lesson 4 PDF

Prayer  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 b...

Prayer  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 COMPETENCIES Recognize a potential market The learners are expected to: 1.1 Identify the market problem to be solved or the market need to be met; and 1.2 Determine the possible product/s or service/s that will meet the need.  TEMPERATURE CHECK 1 2 3 4 RECALL!  WHAT ARE THE KEY CONCEPTS OF ENTREPRENEURSHIP? ❖ Opportunity ❖ Resources ❖ Creation of something new ❖ The presence of risk ❖ The desire to create value  REBUS PUZZLE DEVELOPING REBUS PUZZLE BUSINESS REBUS PUZZLE PLAN  DEVELOPING A BUSINESS PLAN  Learning Task 1: Read and Get Rich! Direction: Read a part of this article from Eight Successful Filipino Entrepreneurs Who Started Small and answer the questions that follows.  Learning Task 1: Read and Get Rich! Direction: Read a part of this article from Eight Successful Filipino Entrepreneurs Who Started Small and answer the questions that follows.  Tony Tan Caktiong used to operate an ice cream parlor, before converting it into a restaurant called “Jollibee”. With a starting capital of P350,000.00 the young Caktiong opened two branches in Cubao and Quiapo, together with friends who supported his idea. Caktiong decided to serve hamburgers, fried chicken, and spaghetti to customers when they are started looking beyond the usual ice cream. Eventually, the business grew, and he had to hire more employees. By knowing the Filipino market, Jollibee managed to excel as a fastfood powerhouse. Tony Tan Caktiong, is a Filipino businessman and investor. He is the founder and chairman of Jollibee Foods Corporation, and the co- chairman of Double Dragon Properties. Forbes listed him as the fifth richest person in the Philippines in 2023, with an estimated net worth of US$3.2 billion. https://en.wikipedia.org/wiki/Jollibee 16  PROCESSING QUESTIONS 1. What is the business of Tony Tan Caktiong? 2. What is his original business idea? 3. What are the steps that he took to come up with a successful business? 4. What lesson in the story could help you become a successful entrepreneur?  PROCESSING QUESTIONS Group 1: What is the business of Tony Tan Caktiong?  PROCESSING QUESTIONS Group 2: What is his original business idea?  PROCESSING QUESTIONS Group 3: What are the steps that he took to come up with a successful business?  PROCESSING QUESTIONS Group 4: What lesson in the story could help you become a successful entrepreneur? WHAT IS IT? KEY CONCEPTS in proposing a business plan  KEY TERMS TO REMEMBER Problem Solution Market Needs Business Opportunity  PROBLEM In business, a problem is a situation that creates a gap between the desired and actual outcomes. In addition, a true problem typically does not have an immediately obvious resolution.  SOLUTION A solution is an implementation of people, processes, information and technologies in a distinct system to support a set of business or technical capabilities that solve one or more business problems.  MARKET NEEDS Market needs refer to the functional needs, desires and goals of a target audience. A company may identify an area of the market with unmet needs and create a product or service that addresses them. If that audience has a large amount of need, the company may receive a significant profit.  BUSINESS OPPORTUNITY A business opportunity is an idea or a set of circumstances that make it possible to create or develop a profitable and sustainable business. This opportunity can arise in different ways, such as from a market need, a technological innovation, a change in consumer trends, a new regulation, among other factors.  TARGET MARKET A target market is a specific group of people with shared characteristics that a business markets its products or services to. Companies use target markets to thoroughly understand their potential customers and craft marketing strategies that help them meet their business and marketing objectives.  GROUP ACTIVITY CONTENT: 10 pts. PRESENTATION: 5 pts. CLASS ENGAGEMENT: 5 pts. 20 pts.  Learning Task 2: Find the Path! Instructions: The role of an Entrepreneur is extraordinary, especially in providing the needs in the community. Presently, the country/world is experiencing a crisis in the health sector which has a domino effect in all other sectors of the community. As an entrepreneur, think of 3 probable problems and business solutions to attend to the situation.  Learning Task 2: Find the Path! After doing so, arrange the need according to priority and give reason for its order. Giving priorities would mean the first is the most essential solution.  Learning Task 3: Dig the Gold! Identify a market problem in the community where your residence is located in and give a solution to the problem which would lead to discovering your opportunity in business.  Learning Task 3: Dig the Gold! Fill in the form for this will serve as basis for your business proposal. Learning Task 4: Screening Time!  quiz On ¼ sheet of paper, read and analyze the following statements then fill in the correct word in each number. Directions: Fill the space with word(s) to complete the sentence. 1. To spot an opportunity is to find the ____. Problem Market Need Solution Target Market 40 2. To identify the market need is to make the ____ to the problem. Problem Market Need Solution Target Market 41 3. To identify business opportunity is to know the ______. Problem Market Need Solution Target Market 42 4. To make sure that the spotted opportunity will be delivered, the entrepreneur should identify the ____. Problem Market Need Solution Target Market 43 5. This key concept in proposing a business plan typically does not have an immediate resolution. Problem Market Need Solution Target Market 44 45 46 1. To spot an opportunity is to find the ____. Problem Market Need Solution Target Market 47 1. To spot an opportunity is to find the ____. Problem Market Need Solution Target Market 48 2. To identify the market need is to make the ____ to the problem. Problem Market Need Solution Target Market 49 2. To identify the market need is to make the ____ to the problem. Problem Market Need Solution Target Market 50 3. To identify business opportunity is to know the ______. Problem Market Need Solution Target Market 51 3. To identify business opportunity is to know the ______. Problem Market Need Solution Target Market 52 4. To make sure that the spotted opportunity will be delivered, the entrepreneur should identify the ____. Problem Market Need Solution Target Market 53 4. To make sure that the spotted opportunity will be delivered, the entrepreneur should identify the ____. Problem Market Need Solution Target Market 54 5. This key concept in proposing a business plan typically does not have an immediate resolution. Problem Market Need Solution Target Market 55 5. This key concept in proposing a business plan typically does not have an immediate resolution. Problem Market Need Solution Target Market 56  TEMPERATURE CHECK 1 2 3 4