Entrepreneurship: It Is A Strategic Process of Innovation & New Venture Creation

ENTREPRENEURSHIP
It is a strategic process of innovation

& new venture creation.
ENTREPRENEUR
person who can innovate, identify, and
evaluate business opportunities
LESSON 1:
GENERATING
BUSINESS
IDEAS
ENVIRONMENT AND MARKET
CLASSIFICATION OF BUSINESS ENVIRONMENT
1.Tangible 2. Intangible
• Land area available • Sub-culture
• Physical layout
• Industry trends
• Building obstructions
• Transportation • Economic and
• Demography of clients and suppliers government activity
• Competitors • Political situations
• Available technology
ENVIRONMENT AND MARKET
1. Natural and Physical Environment
• Physical location of a business store
• Pertains to natural and man-made
structures
• Clustering
• Visibility of your intended store to
the potential clients
2. Demography
• Pertains to the number of people living in the
area, age, gender, socio-economic status, family
size, religion and even growth trends.
3. Economy
• Pertains to the management

of resources and study of the
system of production,
distribution and
consumption of goods and
services.
4. Government Regulations
• Pertains to the laws and policies of the national
and local government units.
Examples:
Taxes
Establishment of economic zones
5. Culture and sub-culture
• Being totality of the way of life,

ideas and customs of a set of
people or society, primarily
influence the types of products
that are acceptable to a
particular locality.
6. Technology
• The skills, methods and processes used to
achieve goals.
• People can use technology to:
– Produce goods or services
– Carry out goals such as scientific investigation or
sending a spaceship to the moon
– Solve problems, such as disease or famine
NEEDS VS WANTS
BASIC NEEDS are essential to every individual, so he/she may be
able to live with dignity and pride in the community of people.
These include:
• Basic commodities for consumption;
• Clothing and other personal belongings;
• Shelter, sanitation, and health; and
• Education and relaxation
Learning Task 1.3: Needs vs Wants
Identify whether the following is considered as Needs or Wants
• Clothing
• Jewelries/Accessories
• Education
• Travel
• Food
Generating Ideas for Business
1. Examine the existing goods and services.
2. Examine the present and future needs.
3. Examine how the needs are being satisfied.
4. Examine the available resources around you.
5. Read magazines, news articles, and other publications on new
products and techniques or advances in technology.
.
Learning Task 1.4: Which is suitable for you?
Read and identify the type of business suitable for each scenario.
1. Edna has grown up in a family of farmers. Her parents grow

seasonal vegetables to sell to the local retailers. She
graduated from an agricultural college. She knows various
planting techniques and is enthusiastic about promoting
planting, selling and consumption of organic foods in her
community. What type of business is suitable for her?
A. Computer Repair Shop

B. Retail Store of Fruits and Vegetables
C. Bakeshop
D. Electronic Repair Shop
2. Lily had been working in the assembly line of a garment

factory for more than five years. Her salary was low, and she
was often required to work overtime until she decided to quit
her job and have her own business. What type of business is
suitable for her?
A. Garment shop
C. Retail store of computer accessories
3. Eunice loves to draw. She eventually enrolled in a TESDA

accredited school and studied Visual Graphics and design. What
type of business is suitable for her?
A. Design and layout business

B. Computer Repair Shop
C. Retail store of computer accessories
4. Gio has the skill in repairing computers at home. His friends

and classmates always ask for his help whenever they
encounter technical problems with their computers. What type
of business is suitable for him?
A. Garment shop
C. Computer Repair Shop
5. Anton worked for a construction material company for

several years. He is very familiar with all the brands and the
quality of various construction materials. When repairing his
house last year, he realized that there was no shop in the area
selling the supplies he needed. What type of business is
suitable for him?
A. Design and layout of houses

B. Construction materials shop
C. Customized furniture shop
Learning Task 1.5: Identifying your Skills and Interest
ASSIGNMENT
Learning Task 1.6: Your Ideas
Answer the following questions in paragraph form. Write your answer in separate sheet of paper.
• What are your interests, hobbies or skills?

• What business do you have in mind which is related to your interests, hobbies or
skills?
• Where will you locate your business?
• What goods/service will you provide?
• Who is your target client/market?
• How will you sell your product?
THANK
YOU!

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ENTREPRENEURSHIP

It is a strategic process of innovation

• Pertains to the management

• Being totality of the way of life,

1. Edna has grown up in a family of farmers. Her parents grow

A. Computer Repair Shop

2. Lily had been working in the assembly line of a garment

3. Eunice loves to draw. She eventually enrolled in a TESDA

A. Design and layout business

4. Gio has the skill in repairing computers at home. His friends

5. Anton worked for a construction material company for

A. Design and layout of houses

• What are your interests, hobbies or skills?

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