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Module 4 1st Quarter Entrepreneurship

This document discusses how entrepreneurs can identify business opportunities by analyzing market needs and determining suitable products or services. It defines urban and rural areas and their business resources. Entrepreneurs must evaluate factors like the market, suppliers, manpower, technology, and conduct SWOT analyses and marketing research. These tools can help entrepreneurs match their skills and interests to community needs and wants, ensuring they start businesses that are viable. The document provides instructions for an activity where readers identify their skills and potential products/services and how these could benefit their local area.

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123 views14 pages

Module 4 1st Quarter Entrepreneurship

This document discusses how entrepreneurs can identify business opportunities by analyzing market needs and determining suitable products or services. It defines urban and rural areas and their business resources. Entrepreneurs must evaluate factors like the market, suppliers, manpower, technology, and conduct SWOT analyses and marketing research. These tools can help entrepreneurs match their skills and interests to community needs and wants, ensuring they start businesses that are viable. The document provides instructions for an activity where readers identify their skills and potential products/services and how these could benefit their local area.

Uploaded by

nattoyko
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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ENTREPRENEURSHIP

Marie Antonette L. Lerum


Subject Teacher
LET’S RECALL

Directions: Identify the requirements for effective market


segmentation

Measurable Substantial
Actionable
TOPIC: THE BUSINESS SEARCH
MODULE: 4 WEEK: 4 QUARTER:
1 ST
LEARNING COMPETENCIES:
o Analyze the market need
o Determine the possible product/s or service/s
that will meet the need;
OBJECTIVE/S
o To identify the market needs and wants.
o To access the different factors or resources in
discovering product/s or service/s and business
opportunities.
o To appreciate the value of evaluating tools in
determining product/s or service/s and business
opportunities.
INTRODUCTION

Entrepreneur must know how to identify and access the


needs and wants of the people it can help entrepreneur
determine the right product/s or service/s and business
opportunities. It can also guide entrepreneur for business
innovation and expansions. Business opportunities are
everywhere as long as there are people with money and
willingness to fulfill their needs and wants many business
opportunities will be possible. For you to have a clear picture
of our discussion about analyzing the market let us compare
the business opportunities both in urban and rural areas.
URBAN AREAS VS RURAL AREAS

Urban Areas Rural Areas


• as defined by national geographic the • as defined by Wikipedia.com as areas which
region surrounding a city. Which inhabitants are not towns or cities. They are often
have non- agricultural jobs. farming or agricultural areas.
BUSINESS RESOURCES

Business can exists both in urban and rural areas. Now are you ready to
find your own product/s or service/s and business opportunities? Keep in
mind that business success lies greatly on his people. Entrepreneurs effort
will be useless if he doesn't have a loyal, supportive, cooperative and
efficient workers and others linked in the operation of business. Always
remember that business depends on its employees, customers,
suppliers and others contribute to its success. In short people is the most
important resources of business. Because it is the people who
manage and organize other productive resources of business,
such as money, materials, machine, management, and methods.
BUSINESS FACTORS NEED TO BE
EVALUATED

o Market – the number of prospective o Suppliers of Inputs – it is equally


buyers, the presence of competitors, important that there are steady suppliers
and the prices and quality of goods and of raw materials and other inputs of the
services have to be analyzed. business.
o Individual Interest - Business o Manpower – the success of any business
interests of individuals vary. enterprise primarily depends on the
o Capital – the availability of funds efficiency of its employees.
should fit the type of business to be
organized. o Technology – tastes and preferences of
o Skills - the entrepreneur should have consumers are not permanent. These are
the proper skills in the business he is heavily influenced by innovations. And
doing to undertake. innovations are the products of
technology.
SWOT ANALYSIS DEFINED

SWOT is the acronym of Strengths, Weakness, Opportunities and Threats. It


studies the financial resources, physical facilities, management capabilities, the market,
production process, information system , sources of supply and social environment. It
is a tool in evaluating the strength, weakness, opportunities and
threats associated with a particular product or service.
WHAT IS MARKETING RESEARCH?

Marketing Research as defined in Entrepreneurship book of Feliciano R. Fajardo


(1994). Is the process of systematically gathering, recording and evaluating data
regarding a specific marketing problem. The steps in market research are:
1. Define the problem
2. Making a preliminary investigation
3. Planning the research
4. Gathering the data
5. Analyzing the data
6. Reaching a conclusion/ decision
7. Implementing and evaluating decisions
REASONS WHY ENTREPRENEUR NEEDS
TO USE MARKET RESEARCH

oProfitable markets oTrends in consumer tastes and


preferences
oSaleable products /
services oBetter marketing strategies
oStrengths and Weakness of oProper Business Location
competitors oNew market opportunities
oAvailable resources oRealistic business objectives
oBusiness Risk
CONCLUSION

SWOT Analysis and Marketing Research will be a


helpful tool for you as Entrepreneur in seeking business opportunities and
determining the right product/s or service/s. Both tool can help you decide and
match your skills and interest to the needs and wants of the community. It is
highly suggested that before starting or putting up a business you do a simple
SWOT Analysis or Market Research of your prospect business or product/s and
service/s. To assure that you are hitting the right path in starting your own
business.
ACTIVITY TIME
MODULE: 4 WEEK: 4 QUARTER: 1 ST
Directions: Identify the skills that you have and your prospect business or product/s and service/s and determine how
it can contribute to your area, locality and community.

Skills Prospect Product/s or Contribution to your


Service/s and Business area, locality and
community
Thank you and
good luck on
your Business
Search.

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