TLE7 Q1 0102 SG PDF - ICT Horizons Unveiled - Grade 7

General Unit 1: ICT Horizons Unveiled Grade 7 Lesson 02 Business Opportunities in ICT Table of Contents Introduction 1...

General Unit 1: ICT Horizons Unveiled Grade 7 Lesson 02 Business Opportunities in ICT Table of Contents Introduction 1 Learning Competency 2 Reaching Your Tech Pursuits 2 Powering Up 2 Essential Question 4 Tech Dive 4 Entrepreneurship in the ICT 5 Exploring Different Entrepreneurial Paths and Opportunities 9 Successful Businesses in ICT 10 Business Idea Creation in ICT 12 Decoded Vocabs 17 Think about It 17 Tech Insights 17 Try It Yourself 18 Try It Yourself 18 Try It Yourself 18 Gauging Your Skills 19 Impactful ICT: Real-Life Engagement 20 Wrap-Up 21 Self Assessment 21 Reflection 22 Attributions 22 References 23 Answer Key 23 General Unit 1: ICT Horizons Unveiled Grade 7 Lesson 02 Business Opportunities in ICT Quality control concept Introduction Everyone seems to be talking about the latest app or the trendy website. This world of apps, websites, and devices comprises the Information and Communication Technology (ICT) sector. ICT involves more than using these tools; some Filipinos create them! What if YOU could be one of those who build or sell these tools? How cool would that be? 1.2. Business Opportunities in ICT 1 General Unit 1: ICT Horizons Unveiled Grade 7 Learning Competency At the end of this lesson, you should be able to analyze the various sectors of ICT and evaluate the potential career and business prospects relevant to your future career choices. Reaching Your Tech Pursuits At the end of this lesson, you should be able to do the following: Explore entrepreneurial opportunities within the ICT sectors. Identify potential challenges and rewards of the ICT business. Discover big companies and start-ups in the ICT industry. Generate a business idea in the ICT industry. Powering Up ICT Scavenger Hunt 10 mins 21st Century Icons Legend Information, Media, and Technology Skills Communication Skills Learning and Innovation Skills Life and Career Skills Materials notebook pen and paper smartphone 1.2. Business Opportunities in ICT 2 General Unit 1: ICT Horizons Unveiled Grade 7 Instructions 1. Form groups with three members. Prepare a piece of paper and a pen. 2. List down ten tools or platforms under the ICT category that you use every day. (Think about the apps on your phone, the websites you visit, etc.) 3. Next to each tool/platform, write down if it was created by a big company (e.g., Google) or if it started as a small business or start-up. You may use your smartphones to gather more information. 4. Discuss with your group. How do you think each of these tools/platforms started? Was it a single person's or a team’s idea? Guide Questions 1. Which tools/platforms had surprising origins? 2. Why do you think some tools/platforms became popular while others have not? 3. What challenges do you think these ICT businesses faced when they started? 4. Do you personally know someone involved in the ICT industry? What do they do? 5. Can you think of a tool or platform that people might need but has not been created? 1.2. Business Opportunities in ICT 3 General Unit 1: ICT Horizons Unveiled Grade 7 Essential Question How can the ever-evolving world of ICT offer entrepreneurial opportunities, and what should you consider if you decide to enter this thriving industry? Tech Dive Figure 1. Entrepreneurship in the ICT Information and Communication Technology (ICT) is a realm where new ideas flourish and opportunities abound. Explore this sector and you will find vast entrepreneurial prospects, some of which you may never have imagined! As we delve into this lesson, we will explore these entrepreneurial possibilities, understanding their challenges and rewards. Let us begin by understanding the essence of entrepreneurship within the ICT domain. 1.2. Business Opportunities in ICT 4 General Unit 1: ICT Horizons Unveiled Grade 7 Entrepreneurship in the ICT Entrepreneurship in ICT is about more than just creating new apps or websites. It encompasses recognizing a digital need, innovating solutions, and ultimately adding value to the lives of users. Entrepreneurs in this sector are visionary individuals or groups who dare to dream of digital solutions, bringing their ideas to life through technology. Potential Challenges in ICT Entrepreneurship Figure 2. Balancing profit and innovation Every venture comes with its set of hurdles. In the ICT sector, this might include the following: 1. Rapid technological changes: The ICT sector is notorious for its fast-paced evolution. Entrepreneurs must continually update their products or services to stay relevant. 2. High competition: Given the accessibility of technology, many individuals and companies enter the ICT market, leading to intense competition. New start-ups often face challenges from established tech giants and other start-ups. 3. Access to capital: While there are many investors interested in tech start-ups, 1.2. Business Opportunities in ICT 5 General Unit 1: ICT Horizons Unveiled Grade 7 securing funding remains challenging, especially for entrepreneurs without a track record or those with disruptive, untested ideas. 4. Talent acquisition and retention: With the tech industry booming globally, there is a fierce competition for top talent. Recruiting and retaining skilled professionals can be a significant challenge. 5. Regulatory challenges: As governments grapple with the implications of new technologies, regulations can shift, sometimes unpredictably. This is evident in areas like data privacy, cybersecurity, and e-commerce. 6. Keeping up with customer expectations: With the availability of numerous software and platforms, customers' expectations regarding user experience, performance, and features have skyrocketed. 7. Security concerns: Cyber threats are continually rising. Ensuring the security of digital products, services, and data is both crucial and challenging. 8. Intellectual property issues: Protecting one's innovation from being copied or infringed upon can be challenging, especially in a global market where IP laws vary significantly between countries. 9. Adapting to market feedback: Start-ups need to be agile. Sometimes, this means pivoting the business model, product, or service based on market feedback, which can be challenging and costly. 10. Balancing innovation with profitability: While innovation is at the core of tech start-ups, it can be resource-intensive. Balancing the need to innovate with the pressure to generate profits can be tricky. 1.2. Business Opportunities in ICT 6 General Unit 1: ICT Horizons Unveiled Grade 7 Rewards of ICT Entrepreneurship Figure 3. Financial gains Venturing into ICT offers numerous tangible and intangible rewards. Here are some of the potential rewards for entrepreneurs in the ICT sector: 1. Financial gains: Successful ICT businesses can be immensely profitable. Given the scalability of tech products and services, entrepreneurs can achieve substantial financial returns. 2. Innovation and impact: Entrepreneurs in ICT have the opportunity to create novel solutions that can transform industries or address significant societal challenges. 3. Global reach: Unlike many traditional businesses, ICT products and services can often be easily scaled and distributed globally, allowing entrepreneurs to tap into international markets. 4. Flexibility: Technology start-ups often have flexible work environments, especially in the initial stages. Entrepreneurs have the freedom to choose when and where they work. 5. Intellectual satisfaction: Building a tech product or solution from scratch provides an immense sense of intellectual achievement and fulfillment. 6. Legacy creation: Many tech entrepreneurs have the opportunity to leave a legacy, be 1.2. Business Opportunities in ICT 7 General Unit 1: ICT Horizons Unveiled Grade 7 it in the form of widely used software, platforms, or technology standards. 7. Opportunity for continuous learning: The dynamic nature of the tech industry means entrepreneurs constantly learn, adapt, and evolve. 8. Networking: Engaging with other tech entrepreneurs, investors, and professionals in the industry can lead to powerful collaborations, partnerships, and growth opportunities. 9. Job creation: Successful ICT ventures can lead to significant job creation, providing employment opportunities for many. 10. Investment opportunities: Successful tech entrepreneurs often become angel investors or venture capitalists who invest in and mentor the next generation of start-ups. 11. Personal growth: The challenges and experiences of starting and scaling an ICT venture foster resilience, adaptability, leadership skills, and other personal growth attributes. 12. Recognition: Successful tech entrepreneurs often gain recognition and respect from peers, industry stakeholders, and sometimes, the larger public. 13. Ownership and autonomy: Running one's business means having full control over decisions, strategies, and the company’s direction. 14. Potential for acquisitions: Many tech giants are looking for promising start-ups to acquire. Entrepreneurs can benefit from lucrative acquisition deals. 15. Changing lives: ICT solutions can significantly improve people's lives through better healthcare, education, financial inclusion, or other sectors. In conclusion, while the challenges of ICT entrepreneurship are considerable, the rewards can be equally compelling. The combination of financial success, personal growth, and the potential to make a meaningful impact makes the journey worthwhile for many. 1.2. Business Opportunities in ICT 8 General Unit 1: ICT Horizons Unveiled Grade 7 Exploring Different Entrepreneurial Paths and Opportunities Figure 4. Starting a business Starting a Tech-Related Business Starting a tech-related business begins with identifying a gap or need in the market. It could be an unmet consumer demand or an operational efficiency that technology can address.. The venture requires a solid business plan, a dedicated team, an understanding of the market, and technological expertise. The upside is the potential to revolutionize how we live, work, and play, while building a sustainable and profitable venture. Offering Freelance Services The digital age has given rise to the gig economy, where skilled professionals offer their services per project rather than being tethered to a single employer. Freelancing in the ICT sector could involve website design, software development, digital marketing, and more. This path offers flexibility in terms of work hours and the choice of projects. It is a way for 1.2. Business Opportunities in ICT 9 General Unit 1: ICT Horizons Unveiled Grade 7 you to showcase your expertise and grow your portfolio while working with diverse clients worldwide. To thrive as a freelancer, you need to be proactive in finding opportunities, continuously upgrade your skills, and maintain a stellar professional reputation. Developing Tech Solutions Creating tech solutions is all about innovative thinking. It involves recognizing problems or inefficiencies and devising digital tools to address them. Consider the surge in digital payment solutions, which have transformed the way we transact, making it swifter and more secure. Or think of collaborative tools that allow teams to work seamlessly from different corners of the globe. When you develop a tech solution, you are not just creating a product but potentially reshaping an industry or even everyday behavior. It involves research, design, testing, and iteration. The challenge lies in ensuring your solution is intuitive, reliable, and, above all, addresses the identified need. Successful Businesses in ICT Figure 5. Success banner 1. Google Initially launched as a search engine, this company has since expanded its horizon far beyond, offering a myriad of services like email, cloud storage, and even its own web browser. Its innovative algorithm that rapidly fetched accurate search results, 1.2. Business Opportunities in ICT 10 General Unit 1: ICT Horizons Unveiled Grade 7 forever changed the way we access information online. Today, it is a tech behemoth and a testament to how identifying and addressing a simple need can lead to a global enterprise. 2. Microsoft Corporation Microsoft pioneered the personal computer revolution and introduced user-friendly software that transformed businesses and households. Its Windows operating system and Office Suite products became staples worldwide. The company’s journey illustrates the power of continuous innovation and adaptability in maintaining a leading position in the ICT sector. 3. Facebook Meta Starting as a university networking site, it soon became the world's premier social media platform, connecting billions. Its success can be attributed to its constant evolution, integrating new features, and acquiring platforms like Instagram and WhatsApp. Today, it looks ahead into building the metaverse, a shared, virtual space acclaimed as the next frontier in social connection. 4. Amazon This company’s growth story is unparalleled. What began as a modest online bookstore is now the world's dominant e-commerce platform.. Amazon is a prime example of how spotting trends and diversifying can lead to monumental success in the ICT realm. It is known for prioritizing customer service and diversifying its offerings, including cloud computing and streaming services.. 5. Apple Inc. At its core, Apple's triumph lies in its unmatched design and user experience. Its smartphones, computers, and software have consistently set industry standards, emphasizing aesthetics and intuitive interfaces. Apple showcases how premium products, coupled with effective branding, can lead to a global fanbase. 1.2. Business Opportunities in ICT 11 General Unit 1: ICT Horizons Unveiled Grade 7 6. Alibaba Group Alibaba is a beacon of e-commerce success in Asia, revolutionizing online trading, especially for small to medium-sized businesses. Its platforms cater to various needs, from business-to-business (B2B) trading to online retail. Alibaba's ascent underscores the importance of understanding local markets and providing solutions tailored to their unique challenges. 7. Zoom Video Communications, Inc. Zoom emerged as a frontrunner in video communications in an age where remote work and digital interactions has become the norm.. Its easy-to-use platform and reliable service made it an essential tool for businesses, educators, and families. Its success story is a reminder of how timely and efficient solutions can quickly dominate the market, especially in rapidly changing times. Business Idea Creation in ICT Creating a business idea in the ICT sector does not have to be overwhelming. Check the five basic steps below. Starting your Business Idea 1. Identify a specific need or problem in the digital world. Research to ensure this issue is not yet adequately addressed. Example: You want to address the growing concern of online safety and cybersecurity. With more learners using the internet for learning and socializing, there is a need for greater awareness and protection against cyber threats. 2. Brainstorm solutions and consult experts or potential users if possible. Example: 1.2. Business Opportunities in ICT 12 General Unit 1: ICT Horizons Unveiled Grade 7 Consult with teachers, parents, and cybersecurity experts to brainstorm solutions. Consider offering a service that educates learners about online safety, provides cybersecurity tips, and offers assistance in securing their online presence. 3. Create a prototype or outline of your solution and seek feedback. Example: Develop a prototype of your solution, which could include a website or mobile app with the following features: educational resources on online safety, such as articles and videos interactive quizzes and games to teach cybersecurity concepts a help desk or chat support for learners to ask questions or report cybersecurity issues weekly cybersecurity tips delivered via email or app notifications 4. Seek feedback from your classmates, teachers, and parents on the prototype. 5. Refine your idea based on this feedback and begin laying down the foundation for your business. Example: Refine your prototype based on the feedback received. Make sure the educational content is engaging and easy to understand. Create a business plan that includes details about how you will fund the project (e.g., through subscriptions, donations, or grants). Consider creating partnerships with schools to offer your services as part of their digital literacy curriculum. As you move forward, you can also explore ways to incorporate 1.2. Business Opportunities in ICT 13 General Unit 1: ICT Horizons Unveiled Grade 7 gaming and storytelling elements into your educational materials to make cybersecurity more fun and relatable for your target audience. Remember to prioritize safety and privacy in your platform. Consult with a trusted adult or mentor for guidance on online safety practices and legal considerations. Remember, the key is to keep the process iterative, always be ready to learn and adapt. Strategies to Apply To foster a successful ICT business idea, employ the following strategies: 1. Market research: Understand the current market scenario, trends, and competitor offerings. It helps to ensure your idea's relevance and viability. 2. User-centric approach: Design your solution with the user in mind. Their acceptance and adaptation will determine your success. 3. Continual learning: ICT is ever-evolving. Engage in continuous learning to stay updated and to innovate. 4. Networking: Engage with other entrepreneurs, tech experts, and potential investors. They can offer valuable insights, partnerships, or funding opportunities. 5. Sustainability: Ensure your idea is not just a fleeting trend but has the potential for long-term growth and relevance. Template for ICT Business Idea Creation Here is a simple template to help structure your ICT business idea: Table 1.1 ICT Business Idea Creation Problem Statement Clearly define the problem you aim to solve. Target Audience Describe who will benefit from your solution. 1.2. Business Opportunities in ICT 14 General Unit 1: ICT Horizons Unveiled Grade 7 Proposed Solution Detail the technological solution you are proposing. Competition Discuss any competitors and how your idea is better or different. Unique Selling Point (USP) Highlight what sets your solution apart from existing ones. Marketing and Promotion Explain how you plan to market and promote your business. Monetization Strategy Outline how you plan to make the business profitable. Feedback & Iteration Document the feedback received and how you incorporated it. Look at the example on this table and use it as a guide to create your own business idea. Table 1.2 ICT Business Idea Creation Problem Statement Many small and medium-sized businesses struggle with managing their IT infrastructure efficiently, leading to downtime and security risks. They often lack the resources for a dedicated IT department. Target Audience Small- and medium-sized businesses (SMBs) in various industries, such as retail, healthcare, and legal services, which have up to 100 employees Proposed Solution “ITProCare" is a cloud-based IT management platform that provides SMBs with affordable and reliable IT infrastructure management. This platform offers 1.2. Business Opportunities in ICT 15 General Unit 1: ICT Horizons Unveiled Grade 7 automated system monitoring, regular software updates, and remote IT support on a subscription basis. Competition Our competitors might include managed service providers (MSPs), cloud-based IT management platforms, and IT consulting firms. Our team will analyze their strengths and weaknesses, pricing structures, and the range of services they offer. Unique Selling Point (USP) “ITProCare" stands out because it combines cutting-edge automation with personalized support, making it affordable for SMBs to access the IT care usually reserved for larger enterprises. Our team of experienced IT professionals ensures businesses stay secure and efficient without the need for an in-house IT department. Marketing and Promotion Use digital advertising platforms, create compelling ad campaigns that highlight the benefits of "ITProCare". Encourage satisfied customers to refer other SMBs to "ITProCare" by offering referral incentives, such as discounts or free months of service. Monetization Strategy We offer tiered subscription plans based on the size and complexity of the SMB's IT infrastructure. Plans include basic monitoring, proactive maintenance, and 24/7 support. Additionally, we offer a pay-as-you-go service for on-demand IT support and consulting. Feedback & Iteration Regularly gather feedback from SMB clients through surveys and direct communication. Monitor system performance and security metrics closely. Use feedback to 1.2. Business Opportunities in ICT 16 General Unit 1: ICT Horizons Unveiled Grade 7 improve the platform, enhance customer support, and expand service offerings based on emerging IT trends and needs. Using a structured approach helps in organizing thoughts and effectively presenting the idea to potential partners or investors. Decoded Vocabs prototype: an early model or version of a product that allows for testing and improvements freemium: a business model in which a company offers basic or limited features to users at no cost and then charges a premium for supplemental or advanced features User-centric approach: a design or strategy that prioritizes the needs and experiences of the user monetization strategy: a plan or method to generate revenue from a product, service, or content Unique Selling Point (USP): a feature or aspect that differentiates a product or service from its competitors Think about It If you were to start a business in the ICT sector, which potential challenges do you believe would be the hardest to overcome, and why? Tech Insights Did you know? The term entrepreneur originates from the French word entreprendre, which means "to undertake." It refers to those 1.2. Business Opportunities in ICT 17 General Unit 1: ICT Horizons Unveiled Grade 7 who take on the risk of starting a new business venture. Entrepreneurs are not just business owners but are often innovators, bringing new products, services, or ideas to the market. Try It Yourself Instruction: Give the correct answer. Which term refers to a design or strategy that emphasizes the needs and experiences of the user? Try It Yourself Instruction: Answer the question in three to five sentences. If you designed a new mobile application for learners to track their homework and assignments, which monetization strategy might you consider? Try It Yourself Instruction: Answer the question in three to five sentences. Considering the rapid evolution of the ICT sector, why is it important for businesses to continuously conduct market research? 1.2. Business Opportunities in ICT 18 General Unit 1: ICT Horizons Unveiled Grade 7 Gauging Your Skills I. Fill-in-the-blank. Write the correct answer on the space provided. 1. _______________ is a company known for video communications, with its software widely used during the pandemic. 2. When considering entrepreneurship in the ICT sector, potential challenges and _______________ need to be considered. 3. _______________ , now known as Meta, is the company that introduced a widely used social media platform. 4. Amazon started as an online bookstore but is now most associated with _______________. 5. ____________ is an ICT entrepreneurial path where you monetize your skills by helping your clients with what they need. 6. The Microsoft Corporation is known for its operating systems, while _______________ is an online search engine. 7. Filipinos are fond of online shopping through platforms like Lazada and Shopee. In China, the most used shopping platform is ________________. 1.2. Business Opportunities in ICT 19 General Unit 1: ICT Horizons Unveiled Grade 7 I. Enumeration. List down your answers. 8. List down three potential rewards when considering entrepreneurship in the ICT sector. 1. 2. 3. 9. List down three potential challenges when considering entrepreneurship in the ICT sector. 1. 2. 3. 10. Mention the three entrepreneurial paths in the ICT sector. 1. 2. 3. Impactful ICT: Real-Life Engagement Learners can utilize their understanding of the ICT sector to develop apps or platforms that support Comprehensive Sexuality Education. They can make information more accessible to their peers and provide accurate and age-appropriate facts about various aspects of sexuality, relationships, and health. When discussing sensitive topics, ICT solutions can provide a safe and confidential environment for students to access information without fear of judgment or exposure. 1.2. Business Opportunities in ICT 20 General Unit 1: ICT Horizons Unveiled Grade 7 Wrap-Up Entrepreneurial opportunities within the ICT sectors offer a myriad of paths, including tech-related businesses, freelance services, and the development of unique tech solutions. ICT businesses face potential challenges such as high competition and rapid technological changes, but they also reap significant rewards like global reach, profitability, and innovation. The ICT industry is vast, encompassing major companies and emerging start-ups that continuously shape our digital landscape. Generating a business idea in the ICT industry involves understanding the market, being aware of technological trends, and having a clear vision. These can be guided by easy steps and effective strategies. Self Assessment How confident are you with your acquired skills from the lesson? Put a check (✓) on the corresponding descriptor. I am confident I think I need more I have a minimal Skills that I can do this time and assistance. understanding of it. with ease. I can explore entrepreneurial opportunities. 1.2. Business Opportunities in ICT 21 General Unit 1: ICT Horizons Unveiled Grade 7 I can identify potential challenges and rewards of ICT business. I can discover big companies and start-up businesses. I can generate a business idea. Reflection I find ______________________ the most interesting because ________________________________. I need to improve on ________________________ because ___________________________________. I need to practice _________________________ because ______________________________________. I plan to ___________________________________________________________________________________ Attributions Standard quality control concept by freepik is licensed under Freepik License via Freepik. New business startup graphics concept by rawpixel-com is licensed under Freepik License 1.2. Business Opportunities in ICT 22 General Unit 1: ICT Horizons Unveiled Grade 7 via Freepik. Tiny people measuring money and light bulbs by pch-vector is licensed under Freepik License via Freepik. Tiny businessman with spyglass standing on stack of coins by pch-vector is licensed under Freepik License via Freepik. Business goal investment plan diagram concept by rawpixel-com is licensed under Freepik License via Freepik. Colorful sucess background with people by pikisuperstarik is licensed under Freepik License via Freepik. References Wright, Jennifer A. 2014. Encyclopedia of Information Technology. 3rd ed. Western Kentucky University. Answer Key Gauging Your Skills I. Fill-in-the-blank. Write the correct answer on the space provided. 1. Zoom Video Communications, Inc. is a company known for video communications, with its software widely used during the pandemic. 2. When considering entrepreneurship in the ICT sector, potential challenges and rewards need to be considered. 3. Facebook Meta/Facebook, now known as Meta, is a company that introduced a widely used social media platform. 4. Amazon started as an online bookstore but is now most associated with online retailing/online shopping. 1.2. Business Opportunities in ICT 23 General Unit 1: ICT Horizons Unveiled Grade 7 5. Offering freelance services is an ICT entrepreneurial path where you monetize your skills by helping your clients with what they need. 6. The Microsoft Corporation is for its operating systems, while Google is an online search engine. 7. Filipinos are fond of online shopping through platforms like Lazada and Shopee. In China, the most used shopping platform is Alibaba Group. II. Enumeration. List down your answer. 8. List down three potential rewards when considering Entrepreneurship in the ICT sector. Answers may vary: financial gains, innovation and impact, global reach, flexibility, intellectual satisfaction, legacy creation, opportunity for continuous learning, investment opportunities, job creation, networking, personal growth, recognition, ownership and autonomy, and potential for acquisitions 9. List down three potential challenges when considering Entrepreneurship in the ICT sector. Answers may vary: rapid technological changes, high competition, access to capital, talent acquisition and retention, regulatory challenges, keeping up with customer expectations, intellectual property issues, adapting to market feedback, and balancing innovation with profitability 10. Mention the three entrepreneurial paths in the ICT sector. Answers may vary from these; starting a tech-related business, offering freelance services, or developing tech solutions 1.2. Business Opportunities in ICT 24 General Unit 1: ICT Horizons Unveiled Grade 7 Try It Yourself 1. Which term refers to a design or strategy that emphasizes the needs and experiences of the user? Answer: User-centric approach Explanation: The term is user-centric approach. This approach places the user's needs and experiences at the forefront of the design or strategy, ensuring that products or services are tailored to their preferences and requirements. 2. If you designed a new mobile application for learners to track their homework and assignments, which monetization strategy might you consider? Answer: One possible monetization strategy for such a mobile application would be the freemium model. Explanation: In this approach, the basic version of the app would be free, but users would have the option to upgrade to a premium version with additional features, such as integration with a calendar, reminders, or subject-specific tools. 3. Considering the rapid evolution of the ICT sector, why is it important for businesses to continuously conduct market research? Answer: Continuous market research in the ICT sector is vital because it allows businesses to stay updated with the latest technological trends and innovations. It also helps them understand the changing needs and preferences of their target audience. Explanation: With this information, businesses can adapt their products or services, ensuring they remain competitive and relevant in the ever-changing tech landscape. 1.2. Business Opportunities in ICT 25