TLE Q1 Reviewer PDF

TLE Reviewer Key Steps in Conducting a Case Study Personal Entrepreneurial Competencies 1. Select a case - choose a specific PEC’S - Set of skills and Behaviour subject 2. Build a theoretical framework - guide Tech...

TLE Reviewer Key Steps in Conducting a Case Study Personal Entrepreneurial Competencies 1. Select a case - choose a specific PEC’S - Set of skills and Behaviour subject 2. Build a theoretical framework - guide Technical Competency - Related to to your specific business Technology 3. Collect Data - Provide a detailed Behavioral Competency - Self Confident Description of the Case Attitude Competency - Business Minded 4. Describe and analyze the Case Productivity Based Competency - Time Management Action Plan - A list of activities and well defined steps that serve as a guide for Characteristics of the entrepreneur to help achieve Entrepreneurs/Entreneurial business goals. Curiosity - Seeking New Opportunities An action plan includes the following Optimism - Looking the positive side of steps business Decision Making - Making quick and 1. List down the task needed effective choice 2. Establish a time frame for achieving Tenacity - Overcoming Challenges each action Adaptability - Being flexible and open 3. Name the person involved for each minded action Risk Taking - Ready to face uncertainty 4. Cite the expected outcome for each Self Confidence - Believing yourself and action that you will do Goals 5. Specify ways to follow up on action Passion - Loving what you do plan to check that the steps are being Vision - Have a picture in mind and have carried out a long term goal Networking - Connecting with people Steps and Criteria in Selecting Business Ideas SWOT - Used to Evaluate 1. Markets - analyze the numbers of prospective buyers, the presence of Strength - Helpful competitors, and the prices and quality Weakness - Harmful of the goods, services. Opportunities - Helpful 2. Capital - Money is important in putting Threats - Harmful up a business 3. Skills - The entrepreneur should have Case Study - An in-depth examination of the necessary skills in the business that a specific subject within a real world they will undertake context 4. Supplier - There should be be sufficient supplier of raw materials and other inputs of the business 5. Individual Interest - The business Medicines and Drugs interest of individuals vary. 9. Home Furnishings - All product for 6. Technology - Entrepreneurs should be kitchen, bedroom, living rooms, and other aware of the presence of technology, accessories particularly new technology needed to 10. Housing - Building and Specialized improve products of services or skills in house construction and refurbishing introduce new ones in the market 11. Transportation and Communication - 7. Manpower - The success of business Transportation and Communication supplies enterprise also depends on the and services, transport vehicles and efficiency of its employees. services, transport vehicles and services Business Idea by Category Product Development 1. Accessories - Mens and womens - Defined as the process of accessories, baby accessories, home conceptualizing, designing, creating, accessories, and office accessories producing, introducing, and delivering 2. Agriculture and fisheries - Meat and new products and services to poultry, fruits vegetable, fish and other kinds consumers. of sea food, cut flowers, plant and nurseries, animal feeds, poultry and hog raising 1. Generating a new product idea 3. Cleaning Materials - Soaps and 2. Screening ideas detergents, floor waxes, and polishing 3. Business analysis compounds, personal hygiene needs, and 4. Product Development all accessories used for cleaning 5. Market test 4. Clothing and textile - Textile and 6. Commercialization clothing products, personal clothing and accessories, fashion and accessories, Product Development Strategies household clothing items, clothing and 1. Market Research and Customer accessories production Feedback 5. Education - School Supplies and 2. Differentiation Equipment, Publishing, Learning Activities, 3. Cost Leadership tutoring and teaching, Special Schools, 4. Technology Adoption Daycare Centers, and Production of 5. Collaboration and Partnership learning equipment 6. Market Segregation 6. Food and Service - Food products and 7. Leverage Data and Analysis production, food items, fast food, bakeries 8. Agile Development and pastries, restaurants, mobile kiosk, take 9. Product Line Extension outs and food delivery 10. Sustainability and Corporate Social 7. Handicraft - All handicraft and product Responsibility (CSR) made of wood, paper, leather, metal, stone, 11. Global Expansion and other materials 12. Commercialization 8. Health and Health Services - Personal 13. Product Launching Care Items, Health Products and 14. Marketing Supplements, Caregiving and Relateds 15. Production services, Spa, Therapy, Special Clinics, Unique Selling Proposition - A strategy Key Components of Digital Marketing used by businessmen to encourage customers to buy from them and not from - Search Engine optimization their competitors - Search Engine Marketing - Email Marketing Guidelines in making a USP - Content Marketing 1. Determine your target customers - Social Media Marketing 2. Think of ways in which your product - Pay-per-Click Advertising can help solve their problems. - Affiliate Marketing 3. To encourage people to buy your - Influencer Marketing product, you can offer a guarantee once they buy it. Benefits of Digital Marketing Brands 1. Cost Effective - Refers to a name, term, or symbol or 2. Targeted design or combination of them, which 3. Measurable identifies the goods or services of one 4. Engaging entrepreneur and differentiates them from their competitors product Cashflow - Defined simply as the flow of money coming in from a source which Steps in Developing a Brand can be income for a family, a personal 1. Use something short, simple, easy to allowance, or revenues in business remember, and easy to pronounce 2. Choose an appropriate name that fits Cash flow is important because it the product indicates whether operation of any of 3. Focus the brand name on the quality these entities are succeeding or failing of the product that may persuade customers to buy it Savings - Defined as setting aside a 4. Adopt an attractive logo that must be portion of an income, earnings, or also be reflected in the packaging allowance at home or in a bank. 5. Register brand names and make them visible on websites, mobile applications, Investment - Process of making money and other social media platforms grow and have a return 6. Convey a brand message with value-added benefits for the customer Types of Investment - Bank Time Deposit Digital Marketing - Can be done both - Government Bonds/Treasury Bills online and offline - Real Estate - Mutual Funds or Unit Investment Trust Fund - Stock Market or Equity Market