Name: JAY TERNURA

Section: III-D

Activity 2

Activating Prior Learning

1. What do you think are the common problems in business?

-Don’t know the purpose

-No strong brand identity
-Not providing value
-Not planned ahead of time
-No exit strategy
-You don’t ask for help
-Controlled by uncertainty and fear
-Not taking advantage the power of technology

2. What might be the reasons why these problems are encountered in business?

1.  Poor Training
2. Not following procedures.  
3. Poor employee placement 
4. Poor or outdated
5. Poor inspection 
6. Poor maintenance
7. Poor engineering or
8. Poor inputs or materials 
9. Poor rewards or incentives 

Application

Direction:Answer the following questions. Write your explanation in the box provided below.
1. What are the purposes of a business plan?
-is to identify, describe and analyze a business opportunity and/or a business already under way,
examining its technical, economic and financial feasibility.

2. What important facts should an entrepreneur gather in preparing a business plan?

 -Your basic business concept
-Your strategy and the specific actions you plan to take to implement it
-Your products and services and their competitive advantages
-The markets you'll pursue
-The background of your management team and key employees
-Your financing needs

Assessment
Direction:What are the dangers if an entrepreneur starts a business without a business plan?

Cause you to hire new employees

every time you see a need in a
department.

Entrepreneur may
suffer. This may affect
his/her income. Confusion of the
employees.

Confusion of the
Failure of the employees.
business.
This is an example of
weaknesses and
treats.

Reflection

What are your insights on this topic?

-I understand that if we want to build a business we must be prepared. Not because you want
income you immediately do business. You must always have a plan.

What do you want to learn more and why?

-I want to learn more about doing business because I know this can help me in the future.