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TEACHING COMPETENCIES
in HOME ECONOMICS
Course Number TLE 7
Descriptive Title Teaching Competencies
in Home Economics
Number of Units 3
Course Description This course provides prospective teachers a foundation in teaching
different competencies in Home Economics track, including concepts
that will help to develop knowledge, skills, and attitude to perform
different tasks on the track chosen. It covers common
competencies on personal entrepreneurial competencies, environment
and market, and occupational safety and health. It also includes
different exploratory courses of Home Economics to give prospective
teachers skills and knowledge on the track chosen..
SCHOOL VMGC Vision: A globally competitive and leading private institution that offers
affordable quality academic and technical in education.

Mission: MPCI commits to provide excellent and accessible education

through teacher training, acquisition of updated and state of art facilities,
putting in place operational systems, procedures and services towards
the formation of responsible and morally upright graduates.

Goals:
1. To promote transformative leadership that ensures efficient and
effective administration services to stakeholders.
2. Enhance the quality of academic and technical education thru
curriculum and instructional development.
3. Provide quality services that nurture students learning and
promote stakeholders by satisfaction.
4. Engage the entire community in the teaching-learning process.
5. Provide venue for developing faculty and staff to grow in the
profession.
6. Promote research as part of continuing professional
development.
Core Values:
1. Faith
2. Service Oriented
3. Competent
4. Commitment
5. Excellence
6. Self-Discipline

Course Objective At the end of this course, students should be able to:
1. Actively participate in small and whole group discussion forums by
analyzing,constructing/creating, and evaluating information presented within
the textbook, external readings/resources, student research, class activities, and
field-experience.
2. 2. Demonstrate understanding of the course materials through objective
examinations and preparing and peer-microteaching, and group interdisciplinary
lesson projects
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Course Learning Plan

Content / Time Specific Objectives Student Teaching and Evidence of

Allotment Learning Assessment Outcomes
Outcomes Strategies
1. Assessment of 1.Recognize Personal  identify areas for
Personal Competencies Entrepreneurial Competencies improvement,
and Skills(PECs) vis-à-vis and Skills (PECs) needed development, Discussion and Oral Instructor’s
PECs of a practicing and growth, Exam Activities Evaluation
entrepreneur/employee 1.1 Compare one’s PECs with  align your PECs (Grade)Result
1.1 Characteristics those of a practitioner according to of Activities
1.2 Attribute /entrepreneur your business or
1.3 Lifestyle 1.2 Align one’s PECs with those career choice,
1.4 Skills of a practitioner /entrepreneur and
1.5 Traits 1.3 Assess one’s PECs  create a plan of
1.4 Assess practitioner’s PECs action that
ensures success
2. Analysis of PECs in your business
compared to those of a or career choice.
practitioner
3. Align one’s PECs
based on the results of
the assessment

Strengthening and 2.Develop and strengthen  identify areas for Discussion and Oral Instructor’s
developing further one’s personal competencies and skills improvement, Exam Activities Evaluation
PECs (PECs) needed 2.1 Identify areas development, (Grade)Result
for improvement, development and growth, of Activities
and growth2.2 Align one’s PECs  align your PECs
according to his/her according to
business/career choice2.3 Create your business or
a plan of action that ensures career choice,
success of his/he and

2.1 Identify areas for

improvement, development and
growth2.2 Align one’s PECs
according to his/her
business/career choice2.3 Create
a plan of action that ensures
success of his/her
Market (customer) Recognize the potential  create a plan of Discussion and Oral Instructor’s
1. Key concepts in customer/ market action that Exam Activities Evaluation
identifying and 2.1 Profile potential customers ensures success (Grade)Result
understanding the 2.2 Identify the customer’s needs in your business of Activities
consumer and wants through consumer or career choice
2. Consumer analysis analysis
through: 2.3 Conduct consumer/market
2.1 Observation analysis
2.2 Interviews
2.3 Focus group
discussion(FGD)
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2.4 Survey

1. Generating business Create new business ideas3.1  identify what is Discussion and Oral Instructor’s
ideas1.1 Key concepts in Explore ways of generating of “value” to the Exam Activities Evaluation
generating business ideas from ones’ own customer, (Grade)Result
businessideas1.2 characteristics/attributes3.2  identify the of Activities
Knowledge, skills, Generate business ideas using customer to sell
passions, and interests1.3 product innovation from to,
New applications1.4 irritants, trends, and emerging  explain what
Irritants1.5 Striking ideas needs3.3 Generate business makes a product
(new concepts)1.6 ideas using Serendipity Walk unique and
Serendipity Walk competitive,

1. Product development Develop a product/service  apply creativity Discussion and Oral Instructor’s
2. Key concepts in 4.1 Identify what is of “value” to and innovative Exam Activities Evaluation
developing a product the customer techniques to (Grade)Result
3. Finding Value 4.2 Identify the customer develop of Activities
4. Innovation 4.3 Explain what makes a marketable
4.1 Unique Selling product unique and competitive products, and
Proposition (USP) 4.4 Apply creativity and  employ a unique
innovative techniques to develop selling
marketable product proposition
4.5 Employ a USP to the (USP) to a
product/service product and/or
service.
1. Selecting business Select a business idea based on The learners shall be Discussion and Oral Instructor’s
idea2. Key concepts in the criteria and techniques set able to create a Exam Activities Evaluation
selecting a business 5.1 Enumerate various criteria business vicinity map (Grade)Result
idea2.1 Criteria2.2 and steps in selecting a business reflective of the of Activities
Techniques idea potential market in
5.2 Apply the criteria/steps in the locality/town
selecting a viable business idea
5.3 Determine a business idea
based on the criteria/techniques
set
Branding Develop a brand for the product  Create own logo Discussion and Oral Instructor’s
6.1 Identify the benefits of for the desired Exam Activities Evaluation
having a good brand product (Grade)Result
6.2 Enumerate recognizable  The learners of Activities
brands in the town/province shall be able to
6.3 Enumerate criteria for create a business
developing a brand vicinity map
6.4 Generate a clear appeal reflective of the
potential market
in the
locality/town
Occupational health and Identify hazards and risks The learner Discussion and Oral Instructor’s
safety procedures 1.1 Observing safety work habits independently Exam Activities Evaluation
in the work place identifies hazards (Grade)Result
1.2 Preventing hazards in the correctly in of Activities
workplace Evaluate hazards and accordance with
risks occupational health
2.1 Identify work hazards in the and safety
workplace procedures.
2.2 Make a plan of action for the
identified hazards Control
hazards and risks
3.1 Demonstrate the use of
PPEs in the workplace3.2
Enumerate the benefits of
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observing safety procedure in the

workplace

Evaluate hazards and risk

2.1 Identify work hazards in the

workplace
2.2 Make a plan of action for the
identified hazards

Control hazards and risks

Exploratory Course for 1. Prepare and produce bakery The learners Discussion and Oral Instructor’s
Bread and Pastry NC II products. independently Exam Activities Evaluation
2. Prepare and produce pastry perform the tasked (Grade)Result
products prescribed to acquire of Activities
3. Prepare and present gateaux, national certificate
tortes and cakes
Exploratory Course for Planning and preparing food for The learners Discussion and Oral Instructor’s
Commercial Cooking ala carte and buffet2. Planning independently Exam Activities Evaluation
NC II and controlling menu-based perform the tasked (Grade)Result
catering3. Organizing bulk prescribed to acquire of Activities
cooking operations national certificate
Exploratory Course for 1.Use of kitchen tools and The learners Discussion and Oral Instructor’s
Cookery NC II equipment independently Exam Activities Evaluation
2. Maintenance of kitchen tools perform the tasked (Grade)Result
and equipment prescribed to acquire of Activities
3. Perform mensuration and national certificate
calculation
4. Interpret kitchen layout
5. Prepare appetizers
6. Prepare salads and dressing
Exploratory Course 1.Prepare dining The learners Discussion and Oral Instructor’s
forFood and Beverage room/restaurant area for service independently Exam Activities Evaluation
Services NC II 2. Welcome guest and take food perform the tasked (Grade)Result
and beverage orders prescribed to acquire of Activities
3. Promote food and beverage national certificate.
products
Exploratory Course for 1.Planning and developing event The learners Discussion and Oral Instructor’s
Events Management NC proposals and bids independently Exam Activities Evaluation
III 2. Developing an event concept perform the tasked (Grade)Result
prescribed to acquire of Activities
national certificate.
Exploratory Course for 1.Interpret design and layout The learners Discussion and Oral Instructor’s
Housekeeping NC II 2. Receive and process independently Exam Activities Evaluation
reservations perform the tasked (Grade)Result
3. Operate computerized prescribed to acquire of Activities
reservation system national certificate
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Assessment / Evaluation

1. Written works [quizzes and worksheets etc.] 30%

2. Performance [Recitations/ journal,

Reflection, reaction and analysis] 40%

3. Examinations (Prelim, Midterm,

Semi-Finals, Finals) 30%

Total 100%

EVALUATION

To pass the course, you must:

1. Read all the required reading materials like the supplementary readings and answer the self-
assessment activities, quizzes, journals, and reflection questions.

2. You answer the print-based discussion activities.

3. Follow the submission date (for prelim, midterm, semi-finals and finals) to send back
through correspondence the accomplished worksheets, quizzes, long test, activities, and
journal in a long brown envelop with your name.

4. Kindly submit the final project (portfolio)

5. Do the prelim, midterm, semi-final and final examinations

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Table of Contents
Personal Entrepreneurial Competencies (PECs) ............................................................................................. 9
Task 1: Matching Type .............................................................................................................................. 10
Task 2: Guide Questions ............................................................................................................................. 3
Learning Goals and Targets......................................................................................................................... 4
Reading Resources and Instructional Activities .......................................................................................... 4
Task 3: Group Activity ................................................................................................................................. 4
Assessment of Personal Entrepreneurial Competencies (PECs) andSkills vis-à-vis a Practicing
Entrepreneur in a Province ......................................................................................................................... 6
Task 4: PECs Checklist ................................................................................................................................. 8
Task 5: Interview......................................................................................................................................... 9
Sample Interview Guide ........................................................................................................................... 10
Task 6: Preparation of a Plan of Action .................................................................................................... 12
Task 7: Essential Questions ....................................................................................................................... 13
ENVIRONMENT AND MARKET (EM) .............................................................................................................. 14
Task 1: Multiple Choice............................................................................................................................. 15
Task 2: Guide Questions: .......................................................................................................................... 17
Learning Goals and Target ........................................................................................................................ 18
Product Development .............................................................................................................................. 19
Concepts of Developing a Product ............................................................................................................ 20
Finding Value ............................................................................................................................................ 22
Innovation ................................................................................................................................................ 23
Unique Selling Proposition (USP) .............................................................................................................. 23
Task 3: Interview ....................................................................................................................................... 24
Task 4: Browsing the Internet ................................................................................................................... 25
Task 5: Product Conceptualization ........................................................................................................... 26
Generating Ideas for Business .................................................................................................................. 27
Key Concepts of Selecting a Business Idea ................................................................................................ 29
Branding ................................................................................................................................................... 30
Task 6: SWOT Analysis .............................................................................................................................. 32
Task 7: Extra Reading and Video Viewing ................................................................................................. 33
Task 8: Designing a Logo ........................................................................................................................... 34
Task 9: Making My Own Vicinity Map ....................................................................................................... 35
References ……………………………………………………………………………………………………………………………………………….36
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Module 1

Personal Entrepreneurial Competencies (PECs)

Content Standards Performance Standards

The learner demonstrates The learner independently creates a

understanding of one’s PECs in plan of action that strengthens
Computer Hardware Servicing. and/or further develops his/her PECs
in Computer HardwareServicing.

In this module, you will learn more about entrepreneurship and the
entrepreneurial competencies related to Computer Hardware Servicing. You will have
a first-hand experience in educational activities leading toassessment of your personal
entrepreneurial competencies (PECs) and the entrepreneurial competencies of a
successful computer technician within your province. You will also have several
activities that will align your competencies with those of successful practitioners.
Moreover, this module will encourage you to think about entrepreneurship and its role
in the business community as well as in the economic and social development of an
individual.

To start with this module, let us first understand entrepreneurs and

entrepreneurship.

Entrepreneurs are those with the skills and capabilities to see and evaluate
business opportunities. They are individuals who can strategically identify products or
services needed by the community, and have the capacityto deliver them at the right
time and at the right place.
Entrepreneurs are agents of economic change; they organize, manage, and
assume risks of a business. Some of the good qualities of entrepreneurs are:
opportunity-seeker, risk-taker, goal-setter, excellent planner, confident problem-solver,
hardworking, persistent and committed.
Entrepreneurship, on the other hand, is not just a simple business activity but a
strategic process of innovation and new product creation. Basically, entrepreneurship
is both an art and science of converting business ideas into marketable products or
services to improve the quality of living.

Now that you have background knowledge about entrepreneurs and

entrepreneurship, you can now walk through in assessing your PECs. Alwaysremember
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that successful entrepreneurs continuously develop and improve their PECs.

To begin, let us find out the competencies you will have gained upon completion
of this module.

Assessment Objectives
At the end of this module, you are expected to:

 identify areas for improvement, development, and growth,

 align your PECs according to your business or career choice, and
 create a plan of action that ensures success in your business or careerchoice.

Pre-assessment

Now try to take the first challenge in

this module, the pre assessment.
As part of your initial activity, try to assess your prior knowledge and
experience related to personal entrepreneurial competencies. Answer Task 1.

Task 1: Matching Type

Directions: 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.

A B
1. Creative A. makes wise decisions towards the set
objectives
2. Profit-oriented B. strategic thinking and setting of goals

3. Disciplined C. trusting in one’s ability

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4. Sound decision maker D. adoptable to change

5. Possess people skills E. innovates to have an edge over other

competitors

6. Excellent Planner F. solid dedication

7. Confident G. skillful in record keeping

8. Hardworking H. always sticks to the plan

9. Ability to accept change I. work diligently

10. Committed J. effective and efficient communication

skills and relates well to people

K. always looking for an opportunity to

have/earn income.

Task 2: Guide Questions

Directions: The following are guide questions which covers the entire module. Write
your answers on your assignment notebook. Discuss / share these to the class.

A. Explain why entrepreneurial activities are important to social development and

economy progress.
B. What entrepreneurial activities related to Computer Hardware Servicing do
you know and are capable of doing?
C. If you were given the opportunity to own a business that relates to Computer
Hardware Servicing, do you think you will be confident to manage it? Explain
your answer.
D. What do you think are the most important competencies one must possess in
order to be successful in running a chosen business?
E. Name successful entrepreneurs from your province whose businesses are
related to Computer Hardware Servicing. Make sure you will be able to share
with the class the PECs that made them successful.
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After all the guide questions are answered, share these with your
classmates. You may also compare your insigths, personal knowledge, and
relevant experiences on the topic to make the sharing more exciting and engaging.

Learning Goals and Targets

After understanding the objectives of this module, having gone through pre-
assessment, and answering the guide questions, you will be asked to set your own
personal goals and targets. These goals and targets will urge you to further achieve the
ultimate objective of this module. In the end, theseultimate goals will motivate you to
learn more about PECs.

Goals and Learning

Ultimate Goal
Targets Activities

Figure 1: Strategic process to achieve the objectives of this module

Reading Resources and Instructional Activities

After setting your own personal goals and targets in achieving theobjectives of
this module, check your inherent knowledge of PECs. Answer the following guide
questions with the help of your classmates.

Task 3: Group Activity

Directions: Answer the following guide questions on a separate sheet ofpaper.

Share your answers with the class.

1. Explain the importance of assessing one’s PECs before engaging in a

particular entrepreneurial activity.

.
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2. Are there other strategies or approaches where you can assess yourPECs?
Explain how these strategies will become more useful in selecting a viable
business venture.

3. What are the desirable personal characteristics, attributes, lifestyles, skills, and
traits of a prospective entrepreneur? Why are these important?

4. Why is there a need to assess one’s PECs in terms of characteristics, attributes,

lifestyles, skills, and traits before starting a particular business?
_

5. What is the significance of evaluating PECs of a successful

entrepreneur? What helpful insights can you draw from this activity?

How was your experience in answering the guide questions with your
classmates? Were you able to benefit from them? What were the insights youhave
realized?

This time you’re going to study the different topics that will enrich your
knowledge of PECs. Read all the important details about the succeeding topic
carefully.
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Assessment of Personal Entrepreneurial Competencies (PECs) and

Skills vis-à-vis a Practicing Entrepreneur in a Province

Entrepreneurial competencies refer to the important characteristics that should

be possessed by an individual in order to perform entrepreneurial functions effectively.
In this module, you will learn some of the most important characteristics, attributes,
lifestyle, skills and traits of a successful entrepreneur or an employee to be successful
in a chosen career.

Below are few important characteristics / traits / attributes of a goodentrepreneur:

 Hardworking: One of the important characteristics of a goodentrepreneur

is hardworking. This means working diligently and being consistent about
it. Hardworking people keep improving theirperformance to produce good
products and/or provide good services.

 Confident: Entrepreneurs have self-reliance in one’s ability and

judgment. They exhibit self-confidence to cope with the risks of operating
their own business.

 Disciplined: Successful entrepreneurs always stick to the planand fight

the temptation to do what is unimportant.

 Committed: Good entrepreneurs assume full responsibility over their

business. They give full commitment and solid dedication to make the
business successful.

 Ability to accept change: Nothing is permanent but change. Change

occurs frequently. When you own a business, you should cope with and
thrive on changes. Capitalize on positive changes to make your business
grow.

 Creative: An entrepreneur should be creative and innovative to stay in the

business and in order to have an edge over the other competitors.
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 Has the initiative: An entrepreneur takes the initiative. You must put
yourself in a position where you are responsible for the failure or success
of your business.

 Profit-oriented: An entrepreneur enters the world of business to generate

profit or additional income. The business shall become your bread and
butter. Therefore, you must see to it that thebusiness can generate income.

Listed below are the important skills of a successful entrepreneur:

 Excellent planner: Planning involves strategic thinking and goal setting

to achieve objectives by carefully maximizing all the available resources.
A good entrepreneur develops and follows the steps in the plans diligently
to realize goals. A good entrepreneur knows that planning is an effective
skill only when combined with action.

 Possesses people skills: This is a very important skill needed to be

successful in any kind of business. People skills refer to effective and
efficient communication and establishing good relationship to the people
working in and out of your business. In day-to-day business transactions,
you need to deal with people. Awell-developed interpersonal skill can
make a huge difference between success and failure of the business.

 Sound decision maker: Successful entrepreneurs have the ability to

think quickly and to make wise decisions towards a pre-determined set of
objectives. No one can deny that the abilityto make wise decisions is an
important skill that an entrepreneur should possess. Sound decisions
should be based on given facts and information and lead towards the pre-
determined objectives.

To firm up what you have learned and have a better appreciation of thedifferent
entrepreneurial competencies, read the PECs checklist below, then answer the same.
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Task 4: PECs Checklist

Directions: Using the PECs checklist, assess yourself by putting a check( )

mark in either strengths or development areas column. Interpret the results by counting
the total number of check marks in each of the columns. After accomplishing the
checklist, form a group and share your insights on theresult of the personal assessment.

Table 1: PECs Checklist

Personal Assessment in terms

of:
Personal Entrepreneurial Competencies
(PECs) of an Entrepreneur Strengths Development
Areas

Hardworking
- Works diligently
Confident
- Self-reliance in one’s ability
Disciplined
- Always stick to the plan
Committed
- Solid dedication
Ability to accept changes
- Adaptable
Creative
- Innovative to have edge over other
competitors
Profit-oriented
- Always looking for an opportunity to
have/earn income

Excellent planner
- Strategic thinking and setting of
goals
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Possess people skill

- Effective and efficient communication
skills and relates well to people

Sound decision maker

- Makes wise decisions towards the
set objectives

TOTAL

Interpretation or Insight:

How was your experience in discovering the strengths and the areas you need
to develop? Did you gain a valuable experience in exchanging insights with your
classmates? To learn more and deepen your understandingof PECs, do task 5 below.

Task 5: Interview

Directions: In your province, interview a successful computer technician or

entrepreneur whose type of business is related with computer hardware servicing.
Focus your questions on PECs and other business-related attributes that helped them
become successful. Analyze the results of the interview and reflect on the similarities
and/or differences. Write your answer on a separate sheet of paper.
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Sample Interview Guide

Name of Proprietor/Practitioner:
Age: Number of Years in Business:
Business Name:
Business Address:

1. What preparations did you make before you engaged in this type of
business or job?

.
2. What special skills and characteristics do you have that are relatedwith
your business or job?

3. How did you solve business-related problems during the early years ofyour
business operation?

4. Did you follow the tips from a successful businessman or practitionerbefore

you engaged in your business?

5. What best business practices can you share with aspiring

entrepreneurs?

6. What do you think are the salient characteristics, attributes, lifestyle,skills

and traits that made you successful in your business or job?

.
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Directions: Copy the tables below in your notebook or in a separate sheet of paper.
Gather the needed information from the interview to supply answer/s to row 1 in the
table below, after which, fill out the second row with your PECs.

Personal
Entrepreneurial Characteristics Attributes Lifestyles Skills Traits
Competencies

Successful
Entrepreneur in
the province

My PECs

Using the information on the table above, analyze and reflect on the similarities and
differences in your answers. Put your reflection on the table you copied in your
notebook or in a separate sheet of paper. Write your conclusion on the space provided.

Personal
Entrepreneurial Similarities Differences
Competencies
Characteristics

Attributes

Lifestyles

Skills

Traits
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Conclusion:

After performing the activities on the importance of PECs, let’s determine how
much you have learned. Perform task 6 to determine how wellyou have understood the
lesson.

Task 6: Preparation of a Plan of Action

Directions: Use in a separate sheet of paper / in your notebook the information

generated from task 5 (Interview) and prepare an action plan that indicates alignment
of your PECs to the PECs of a successful entrepreneur incomputer hardware servicing
in your province.

Time Expected
Objective Area Activities Strategies
Frame Outcome

To align my Characteristics
PECs with
the PECs of

entrepreneur
in Computer Skills
Hardware

Attribute

Traits
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Task 7: Essential Questions

Directions: Read and study the following questions below. You may use aseparate
sheet of paper or your notebook to write your answers.

1. Why is there a need to compare and align one’s PECs with the PECsof a
successful entrepreneur?

2. How does your action plan help sustain your strong PECs and/oraddress
your development areas?

3. What plan of action will you utilize to address your development areas?

.
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Module 2

ENVIRONMENT AND MARKET (EM)

Content Standards Performance Standards

The learner demonstrates The learner independently creates a

understanding of environment and business vicinity map reflective of
market in Computer Hardware potential market in Computer
Servicing in one’s province. Hardware Servicing in a province.

Aspiring entrepreneur need to explore the economic, cultural, and social

conditions prevailing in an area. Needs and wants of the people in a certain area that
are not met may be considered business opportunities. Identifying the needs of the
community, its resources, available raw materials,skills, and appropriate technology
can help a new entrepreneur seize business opportunities.

To be successful in any kind of business venture, potential entrepreneurs should

look closely at the environment and market. They should always be watchful of
existing opportunities and constraints, and to take calculated risks. The opportunities
in the business environment are factors that provide possibilities for a business to
expand and make more profit. Constraints, on the other hand, are factors that limit
business growth, hence reduce the chance of generating profit. One of the best ways to
evaluate opportunities and constraints is to conduct a Strengths, Weaknesses,
Opportunities and Threats (SWOT) Analysis.

SWOT Analysis is a managerial tool used to assess the environment. It is used

to gather important information which is then used in strategic planning. Strengths and
weaknesses are internal in an organization. They relate to resources owned by an
organization that you have control over and also the extent of its marketing.
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Opportunities and threats exist in the external environment. Opportunities relate

to the market, new technologies, and the external factors such as government policies,
climate, and trends. Threats replace what the competitors are doing. It also includes
legal and other constraints.

Now that you have read some important considerations to explore to be

successful in any business, you are now ready to explore more about the environment
and market.

To begin with, let’s find out the competencies that you will master as you finish
this module.

Objectives

At the end of this module, you are expected to:

 identify what is of “value” to the customer,
 identify the customer to sell to,
 explain what makes a product unique and competitive,
 apply creativity and innovative techniques to develop marketable
products, and
 employ a unique selling proposition (USP) to a product and/or
service.

Now that you have an idea about the things you will learn, take the first
challenge in this module – the pre-assessment.

Pre-

Task 1: Multiple Choice

DIRECTIONS: Choose the letter of the best answer. Write your answer on aseparate
sheet of paper.

1. It is generated by examining the goods and services sold in thecommunity.

A. business creation C. business concept
B. business pricing D. business idea
2. It is a process of making new products which will be sold to thecustomers.
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A. product analysis C. product

development
B. product conceptualization D. product
implementation
3. These are luxuries, advantages and desires that every individualconsiders
beyond necessary.
A. wants C. requirements
B. desires D. needs
4. It is a factor or consideration presented by a seller as the reason that a product
or service is different from and better than that of the competition.
A. unique selling plan C. unique pricing
policy
B. unique selling proposition D. finding value-added
5. A stage in which the needs of the target market are identified,reviewed, and
evaluated.
A. concept development C. project development
B. economic analysis D. refine specification
6. It is the introduction of new ideas to make the product and servicesmore
attractive and saleable to the target customers.
A. new idea C. product development
B. creativity D. innovation
7. It is a managerial tool used to assess the environment and to gather
important information that can be used for strategic planning.
A. scanning C. WOTS Analysis
B. SWOT Analysis D. survey analysis

8. It is creating names, symbol, or designs that identifies and

differentiates a product from the other products.
A. product naming C. branding
B. unique selling proposition D. tagline
9. It is a meaningful and unforgettable statement that captures theessence of
the brand.
A. product naming C. branding
B. unique selling proposition D. tagline
10. These are things that people cannot live without.
A. wants C. requirements
B. desires D. needs
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Task 2: Guide Questions:

Directions: Read and study the guide questions below. Use a separate
sheet of paper to write your answer.

1. How does one determine the product or services to be producedand/or to be

provided to the target customers?

2. How does one select an entrepreneurial activity?

3. When can one say that a certain product has “value?”

4. Does applying creativity to your product or services important? Why?

5. How can one effectively respond to the needs of the target customer?

6. From the viewpoint of business owner, discuss the importance ofscanning the
environment and market in generating business ideas.
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7. Using self-assessment, explain the level of your confidence informulating

a business idea.

After all the guide questions are answered and skills have been mastered,
share insights/ideas with your classmates. Discuss your insights, personal knowledge,
and relevant experiences on the topic to make it more exciting and engaging.

Learning Goals and Target

After reading and understanding the objectives of this module and having gone
through the pre-assessment and guide questions, you will be asked to set your own
personal goals. These goals will urge you to further achieve the ultimate objective of
this module. In the end, these goals will motivate you to learn more about environment
and market.

Goals and Learning

Ultimate Goal
Targets Activities

Figure 2: Strategic process to reach the objectives of this module

 19

After setting your own personal goals and targets in achieving the objectives of
this module, you will have the opportunity to read and learn more about environment
and market. You will also be given a chance to do practical exercises and activities to
deepen your understanding of the topic.

Product Development

When we talk of product development, we are referring to a process of making

a new product to be sold by a business or enterprise to its customers. Product
development may involve modification of an existing product orits presentation,
or formulation of an entirely new product that satisfies a newly-defined customer’s
needs, wants and/or a market place.

The term development in this module refers collectively to the entire process of
identifying a market opportunity, creating a product to appeal to the identified market,
and testing, modifying, and refining the product until it becomes ready for production.

There are basic, yet vital questions that you can ask yourself about product
development. When you find acceptable answers to them, you may now say that you
are ready to develop a product and/or render services.
These questions include the following:
1. For whom are the product/services aimed at?
2. What benefit will the customers expect from product/service?
3. How will the product/service differ from the existing brand? Fromits
competitor?
In addition, needs and wants of the people within an area should also be taken
into big consideration. Everyone has his/her own needs and wants. However, each
person has different concepts of needs and wants. Needs in business are the important
things that an individual cannot live without in a society. These include:
1. basic commodities for consumption,
2. clothing and other personal belongings,
3. shelter, sanitation and health, and
4. education.
 20

Basic needs are essential to an individual to live with dignity and pride in a
community. These needs can obviously help you generate business ideas and
subsequently to product development.
Wants are desires, luxury and extravagance that signify wealth and expensive
way of living. Wants or desires are considered above all the basic necessities of life.
Some examples of wants or desires are: fashion accessories, expensive shoes and
clothes, travels, eating in an expensive restaurant, watching movies, concerts, having
luxurious cars, wearing expensive jewelry and perfume, living in impressive homes,
among others.
Needs and wants of people are the basic indicators of the kind of business that
you may engage in because it can serve as the measure of your success. Some other
points that might be considered in businessundertakings are the kind of people, their
needs, wants, lifestyle, culture and tradition, and their social orientation.
To summarize, product development entirely depends on the needs and wants
of the customers. Another important issue to deal with is the key concepts of developing
a product. The succeeding topic shall enlighten you about the procedure in coming up
with a product.
Concepts of Developing a Product
Concept development is a critical phase in the development of a product. In this
stage, the needs of the target market are identified, and competitive products are
reviewed before the product specifications are defined. The product concept is selected
along with an economic analysis to come up with an outline of how a product is being
developed. Figure 3 shows the stages of concept development of a product.
 21

Identify Establish Generate Select a

Refine
Customer Target Product Product
Specifications
Needs Specifications Concepts Concept

Plan
Remaining
Analyze Development
Perform
Competitive Project
Economic
Products
Analysis

Concept
Development

Figure 3: Stages of Concept Development The

process of product development follows the following stages:

1. Identify customer needs: Using survey forms, interviews, researches, focus

group discussions, and observations, an entrepreneur can easily identify
customers’ needs and wants. In this stage, the information that can be possibly
gathered are product specifications (performance, taste, size, color, shape, life
span of the product, etc.). This stage is very important because it would determine
the product to be produced or provided.
2. Establish target specifications: Based on customers' needs and reviews of
competitive products, you can now establish target specifications of the
prospective new product and/or services. A target specification is essentially a
wish-list.

3. Analyze competitive products: It is imperative to analyze existing

competitive products to provide important information in establishingproduct or
service specifications. Other products may exhibit successful design attributes
that should be emulated or improved upon in the new product or service.

4. Generate product concepts: After having gone through with the previous
processes, you may now develop a number of product
 22

concepts to illustrate the types of products or services that are technically feasible
and will best meet the requirements of the target specifications.

5. Select a product concept: Through the process of evaluation between

attributes, a final concept is selected. After the final selection, additional market
research can be applied to obtain feedback from certain key customers.

6. Refine product specifications: In this stage, product or services

specifications are refined on the basis of input from the foregoing activities. Final
specifications are the result of extensive study, expected service life, projected
selling price among others are being considered inthis stage.
7. Perform economic analysis: Throughout the process of product
development, it is very important to always review and estimate the economic
implications regarding development expenses, manufacturing costs, and selling
price of the product or services to be offered orprovided.

8. Plan the remaining development project: In this final stage of concept

development, you can prepare a detailed development plan which includes list of
activities, necessary resources and expenses, and development schedule with
milestones for tracking progress.

Finding Value

People buy for a reason. There should be something in your product or service
that would give consumers a good reason to go back and buy more. There must be
something that will make you the best option for target customers; otherwise, they have
no reason to buy what you are selling. This implies further, that you offer something
to your customers that will makethem value your product or service.

The value you incorporate in your product is called value proposition. Value
proposition is a believable collection of the most persuasive reasons why people should
notice you and take the action you’re asking for. It is what gets people moving, what
makes people spend for your product or service.
 23

Innovation
Innovation is the introduction of something new in your product or service. This
may be a new idea, a new method, or a new device. If you wantto increase your sales
and profit, you must innovate. Some of the possible innovations for your products are
change of packaging, improvement of taste,color, size, shape, and perhaps price. Some
of the possible innovations in providing services are application of new and improved
methods, additional featured services, and possibly freebies.

Unique Selling Proposition (USP)

Unique Selling Proposition is the factor or consideration presented by a seller as

the reason that one product or service is different from and better than that of the
competition. Before you can begin to sell your product or service to your target
customers, you have to sell yourself in it. This is especially important when your
product or service is similar to your competitors.
USP requires careful analysis of other businesses' ads and marketing messages.
If you analyze what they say or what they sell, not just their product or service
characteristics, you can learn a great deal about how companies distinguish themselves
from competitors.

Here's how to discover your USP and how to use it to increase your sales andprofit:

 Use empathy: Put yourself in the shoes of your customers. Always focus on
the needs of the target customers and forget falling in love with your own
product or service. Always remember, you are making/providing this product
not for yourself but for the target customers to eventually increase sales and
earn profit. Essential question such as what could make them come back and
ignore competition, should be asked to oneself. Most possible answers may be
focused on quality, availability, convenience, cleanliness, and reliability of the
product or service.
 Identify customer’s desires. It is very important for you to understandand
find out what drives and motivates your customers to buy your product or
service. Make some effort to find out, analyze and utilize the information that
motivates the customers in their decision to purchase the product or service.
 24

 Discover customer’s genuine reasons for buying the product.

Information is very important in decision making. A competitive entrepreneur
always improve their products or services to provide satisfaction and of course
retention of customers. As your business grows, you should always consider
the process of asking your customers important information and questions that
you can use to improve your product or service.

To enhance your understanding of the topic previously presented, you will be

tasked to form a group and arrange an interview with a successful entrepreneur or
practitioner. You have to document this interview and presentthis to the whole class for
reflection and appreciation.

Task 3: Interview
Directions: Select a successful entrepreneur or practitioner. Conduct an interview
using the set of questions below. Document the interview and present it to the class.
Use a separate sheet of paper.

1. How did you identify your customers?

2. What were your considerations in selecting your customers?

3. Explain how your product or service became unique to other products.

4. Did you consult somebody before you engaged in this business?Cite / give
sample insights that you gained from the consultation.
 25

5. What were your preparations before you started the actual business?

6. What creative and innovative techniques did you adapt in the development of
your product or service? What was the effect of the innovative techniques to the
sales and profits of your business?

7. What strategy did you consider to create a unique selling proposition to your
product or service?

Task 4: Browsing the Internet

Directions: To deepen your understanding of the lesson, perform thefollowing

tasks:

1. Browse the internet and view the topics related to:

a. customers’ needs and wants
b. techniques in identifying customers’ needs and wants
c. creativity or innovations in products and services
d. unique selling proposition
e. product development

2. Prepare a short narrative report about these topics and discuss it to theclass. You
can highlight the aspect that intensifies your knowledge of product
development.
 26

Task 5: Product Conceptualization

Directions: In a separate sheet of paper or in your notebook. Develop your own

concept of your product or service by using the figures on this page. Use bullets in
every stage of product conceptualization in listing important key ideas.

1. Identify
Customers Need
7. Prepare a 2. Target

Development Plan Specifications

-
- -

- -

3. Analyze a

6. Refine Product Competitive

-
-
-
-

5. Select A product 4. Generate Product

Concept Concept
- -

- -
 27

Generating Ideas for Business

The process of developing and generating a business idea is not a simple

process. Some people come up with a bunch of business ideas thatare not really
feasible. There are two problems that arise; first is the excessive generation of ideas
that can forever remain as a dreaming stage and the second is when they don’t have
ideas and don’t want to become entrepreneurs.

The most optimal way is to have a systematic approach in generating and

selecting a business idea that can be transformed into a real business. Here are some
basic yet very important considerations that can be used to generate possible ideas for
business:

1. Examine existing goods and services. Are you satisfied with the product?
What do other people who use the product say about it? How can it be improved?
There are many ways of improving a product from theway it is made to the way it
is packed and sold. You can also improve the materials used in crafting the product.
In addition, you can introduce new ways of using the product, making it more useful
and adaptable to the customers’ many needs. When you are improving the product
or enhancing it, you are doing an innovation. You can also do an invention by
introducing an entirely new product to replace the old one.

Business ideas may also be generated by examining what goods and services are
sold outside the community. Very often, these products are sold in a form that can
still be enhanced or improved.

2. Examine the present and future needs. Look and listen to what the
customers, institutions, and communities are missing in terms of goodsand
services. Sometimes, these needs are already obvious and identified right away.
Other needs are not that obvious because they can only be identified later on, in the
event of certain development in the community. For example, a province will have
its electrification facility in the next six months. Only by that time will the
entrepreneur could think of electrically-
 28

powered or generated business such as photo copying, computer service, digital

printing, etc.

3. Examine how the needs are being satisfied. Needs for the products and
services are referred to as market demand. To satisfy these needs is to supply the
products and services that meet the demands of the market. The term market refers
to whoever will use or buy the products or services, and these may be people or
institutions such as other businesses, establishments, organizations, or government
agencies.

There is a very good business opportunity when there is absolutely no supply to a

pressing market demand.

Businesses or industries in the locality also have needs for goods and services. Their
needs for raw materials, maintenance, and other services such as selling and
distribution are good sources of ideas for business.

4. Examine the available resources. Observe what materials or skills are

available in abundance in your area. A business can be started out of available raw
materials by selling them in raw form and by processing and manufacturing them
into finished products. For example, in a copra- producing town, there will be many
coconut husks and shells available as “waste” products. These can be collected and
made into coco rags or doormats and charcoal bricks and sold profitably outside the
community.

A group of people in your neighborhood may have some special skills that can be
harnessed for business. For example, women in the Mountain Province possess
loom weaving skills that have been passed on from one generation to another. Some
communities set up weaving businesses to produce blankets, decorative, and
various souvenir items for sale to tourists and lowlanders.

Business ideas can come from your own skills. The work and experience you may
have in agricultural arts, industrial arts, home economics, or ICT classes will
provide you with business opportunities to acquire the needed skills which will earn
you extra income should you decide to engage in income-generating activities.
With your skills, you may also tinker around with various things in your spare time.
Many products are invented this way.
 29

5. Read magazines, news articles, and other publications on new

products and techniques or advances in technology. You can pick up
new business ideas from magazines such as Newsweek, Reader’s Digest,Business
Magazines, “Go Negosyo”, Know About Business (KAB) materials, and Small-
Industry Journal. The Internet also serves as a library where you may browse and
surf on possible businesses. It will alsoguide you on how to put the right product in
the right place, at the right price, and at the right time.

Key Concepts of Selecting a Business Idea

Once you have identified business opportunities, you will eventuallysee that
there are many possibilities available for you. It is very unlikely that you will have
enough resources to pursue all of them at once.

You have to select the most promising one among hundreds of ideas.It will be
good to do this in stages. In the first stage, you screen your ideas to narrow them down
to about few choices. In the next stage, trim down the choices to two options. In the
final stage, choose between the two and decide which business idea is worth pursuing.

In screening your ideas, examine each one in terms of the following guide
questions:

1. How much capital is needed to put up the business?

2. Where should the business be located?
3. How big is the demand for the product? Do many people need this
product and will continue to need it for a long time?
4. How is the demand met? Who are processing the products to meet the
needs (competition or demand)? How much of the needis now being met
(supply)?
5. Do you have the background and experiences needed to run this particular
business?
6. Will the business be legal and not against any existing or foreseeable
government regulation?
7. Is the business in line with your interest and expertise?

Your answers to these questions will be helpful in screening whichones

among your many ideas are worth examining further and worth pursuing.
 30

Branding

Branding is a marketing practice of creating a name, a symbol or design that

identifies and differentiates product or services from the rest. It is also a promise to
your customers. It tells them what they can expect from your product or service and it
differentiates your offerings from other competitors. Your brand is derived from who
you are, who you want to be andwhat people perceive you to be.

Branding is one of the most important aspects in any business. An effective

brand strategy gives you a major edge in increasingly competitive markets.

A good product can:

- deliver message clearly,
- confirm credibility,
- connect to target prospect,
- motivate buyers, and
- Concretize user loyalty.

Here are simple tips to publicize your brand:

 Develop a tagline. Write a statement that is meaningful, impressive,

and easy to remember to capture the essence of yourbrand.

 Design a logo. Create a logo symbolic of your business and

consistent with your tagline and displace it strategically.

 Write a brand message. Select a key message to communicate about

your brand.

 Sustain a brand quality. Deliver a promise of quality through your

brand.

 Practice consistency. Be reliable and consistent to what your brand

means in your business.
 31

In generating a business idea, you should first identify the type of business
suited to your business idea. You should analyze and scan the potential environment,
study the marketing practices and strategies of your competitors, analyze strengths,
weaknesses, opportunities, and threats in your environment to ensure that the products
or services you are planning to offer will be patronized and within easy reach of target
consumers.

How to conduct SWOT Analysis:

 Be realistic about the strengths and weaknesses of your businesswhen

conducting SWOT Analysis.

 SWOT Analysis should distinguish between where your business istoday,

and where it can be in the future.
 SWOT Analysis should always be specific. Avoid any gray areas.
 Always apply SWOT Analysis in relation to your competition,
i.e. better than or worse than your competition.
 Keep your SWOT Analysis short and simple. Avoid complexity andover
analysis.
 SWOT Analysis is subjective.
 32

Task 6: SWOT Analysis

Directions: In a separate sheet of paper or in your notebook list down all your
observations for your business idea. Categorize your observations according to
strengths, weakness, opportunities and treats. After carefully listing them down, use the
stated strategies to come up with a sound analysis, activities and best business idea.

Strength (S) Weaknesses (W)

- -
- -
- -
- -
- -
- -
Opportunities (O) Threats (T)

- -
- -
- -
- -
- -
- -

Strategies:

 SW - Maximize on the Strengths to overcome the internal Weakness.

 OW - Capitalize on the Opportunities to eliminate the internal
Weakness.

 ST - Maximize on your Strengths to eliminate the external Threats.

 OT - Take advantage of the available Opportunities to eliminate the
external Threats.

Analysis:
 33

Activities:

My Best Business Idea:

To deepen your understanding of the topics previously discussed, you will be

asked to perform the following activities:

Task 7: Extra Reading and Video Viewing

Reading books and watching videos have been considered as some ofthe most
effective educational activities that can help learners broaden their understanding on a
certain topic. In this particular task, you will be asked to conduct extra reading and
video viewing on the Internet with the following topics:
A. Steps in selecting a business idea
B. Criteria of a viable business idea
C. Benefits of a good brand
D. Ways on developing a brand

After successfully performing the assigned task, make a narrativereport about

it and share it with the class.
 34

Task 8: Designing a Logo

Directions: In a separate sheet of paper or in your notebook draw a logo that you will
use in your business. Provide a simple statement to describe your logo.

Logo
 35

Task 9: Making My Own Vicinity Map

Directions: In a separate sheet of paper or in your notebook draw a vicinity map

reflective of potential market in Computer Hardware Servicing in your province.
Provide a simple statement to describe your map.

Vicinity Map
 36

REFERENCES:
1. https://curriculum.gov.mt/en/Curriculum/Year-9-to-
/Documents/curric_f3_f5/syllabus_home_econ_f4
2. https://www.slideshare.net/eivyportuguez/personal-entrepreneurial-competencies-pecs
3. https://www.slideshare.net/eivyportuguez/personal-entrepreneurial-competencies-pecs
4. TESDA module for extra National Certificate I -IV