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    HELE 5 Identifying Opportunities For

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    n77t6tjytuj
    This document discusses identifying business opportunities in your home and community. It defines key terms like opportunity, business, needs, wants, demand, supply, product, service, and technology. It advises analyzing your skills and interests to match a business idea. Most businesses fulfill human needs and wants. The document recommends studying your local community to identify demand and supply gaps for certain products or services. Available resources and advances in technology can also suggest new business opportunities.

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    HELE 5 Identifying Opportunities For

    Uploaded by

    n77t6tjytuj
    32 views13 pages
    This document discusses identifying business opportunities in your home and community. It defines key terms like opportunity, business, needs, wants, demand, supply, product, service, and technology. It advises analyzing your skills and interests to match a business idea. Most businesses fulfill human needs and wants. The document recommends studying your local community to identify demand and supply gaps for certain products or services. Available resources and advances in technology can also suggest new business opportunities.

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    HELE 5 Identifying Opportunities for

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    This document discusses identifying business opportunities in your home and community. It defines key terms like opportunity, business, needs, wants, demand, supply, product, service, and technology. It advises analyzing your skills and interests to match a business idea. Most businesses fulfill human needs and wants. The document recommends studying your local community to identify demand and supply gaps for certain products or services. Available resources and advances in technology can also suggest new business opportunities.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    32 views13 pages

    HELE 5 Identifying Opportunities For

    Uploaded by

    n77t6tjytuj
    This document discusses identifying business opportunities in your home and community. It defines key terms like opportunity, business, needs, wants, demand, supply, product, service, and technology. It advises analyzing your skills and interests to match a business idea. Most businesses fulfill human needs and wants. The document recommends studying your local community to identify demand and supply gaps for certain products or services. Available resources and advances in technology can also suggest new business opportunities.

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    You are on page 1of 13

    Identifying

    Opportunities
    for
    Business at
    Home and
    Community
    Words for Study
    1. Opportunity - a convenient time or occasion. In this lesson
    it refers to an opportune time to open a business.
    2. Business - an employment, trade, or profession. In this
    lesson it refers to a trade or economic activity for the
    purpose of earning.
    3. Needs - something necessary or indispensable.
    4. Wants - what is desired but not necessary or
    indispensable.
    5. Demand - a much sought after or a state of what is
    needed.
    6. Supply- to provide what is needed.

    7. Product- something produced or manufactured. It also


    refers to goods or commodities.

    8. Service- refers to work or to the discharge of one’s


    occupation or
    profession in exchange for a monetary value.

    9. Technology- the science of developed technique or skill in


    industrial processes or in trade.
    6. Supply- to provide what is needed.

    7. Product- something produced or manufactured. It also


    refers to goods or commodities.

    8. Service- refers to work or to the discharge of one’s occupation or


    profession in exchange for a monetary value.

    9. Technology- the science of developed technique or skill in


    industrial processes or in trade.
    How to Effectively Identify Opportunities for
    Business

    By this time, you may have an idea about


    the type of business you maybe interested in
    whether this is a product or a service. Remember,
    good business does not depend purely on intuition
    or
    suggestion from others, but is a product of
    good business analysis. You should also
    remember that being in the business
    involves a lot a risks. That is why a
    successful entrepreneur is, above all other
    traits, a risk-taker.
    It is important to analyze
    carefully the skills you have and
    the nature of the business you
    want to have. Be sure that your
    skills match the type of business
    products or services you want.
    One of the first thing you should
    remember in identifying business
    opportunities is that most
    businesses have two things in
    common and that is the human
    needs and wants.
    How To Spot Opportunities for Business

    You can start by studying your own


    community, which includes the subdivisions,
    villages, and barangays around you. Study if your
    community is self-sufficient to the needs and wants
    of the people living in it, or if the people in your
    community still have to go out of their
    way to buy their needs and wants like
    eating outside and buying food, buying things
    or services they need for their work, schools,
    their own house, or when they want to get
    their cars washed, to go find someone to get
    something fixed etc.
    Study the demand and supply gaps. Find out if
    the demand for certain products or services in
    the community are being met. Find out if the
    demand for some products and services is being
    filled sufficiently by the local suppliers and
    producers. Find out whether or not local
    supplies can cope with the demand in the
    community.
    The availability of resources in a particular
    are can also suggest business opportunities . These
    resources may be in the form of skills or services. You
    should always grab the opportunity to develop these
    resources into highly marketable products.

    Technology also largely helps in the production


    of new products. It is an aid in the growing needs of
    the people in the community. Through research, it
    provides many business opportunities by providing
    ideas on how to develop a product in the fastest way.
    THANK YOU AND
    GOD BLESS YOU
    KIDS

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