Professional Documents
Culture Documents
Entrep Module 8 1
Entrep Module 8 1
Entrep Module 8 1
12
ENTREPRENEURSHIP
Quarter 2 – Module 8:
BUSINESS IMPLEMENTATION
ENTREPRENEURSHIP – Grade 12
Alternative Delivery Mode
Quarter 2 – Module 8: Business Implementation
First Edition, 2020
Republic Act 8293, section 176 states that: No copyright shall subsist in any
work of the Government of the Philippines. However, prior approval of the government
agency or office wherein the work is created shall be necessary for exploitation of such
work for profit. Such agency or office may, among other things, impose as a condition
the payment of royalties.
Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names,
trademarks, etc.) included in this module are owned by their respective copyright
holders. Every effort has been exerted to locate and seek permission to use these
materials from their respective copyright owners. The publisher and authors do not
represent nor claim ownership over them.
ENTRPRENEURSHIP
Quarter 2 – Module 8:
Business Implementation
Introductory Message
For the facilitator:
This learning resource hopes to engage the learners into guided and
independent learning activities at their own pace and time. Furthermore, this
also aims to help learners acquire the needed 21st century skills while taking
into consideration their needs and circumstances.
In addition to the material in the main text, you will also see this box in the
body of the module:
As a facilitator, you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing
them to manage their own learning. Furthermore, you are expected to
encourage and assist the learners as they do the tasks included in the module.
ii
For the learner:
This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own pace and time.
You will be enabled to process the contents of the learning resource while
being an active learner.
iii
This is a task which aims to evaluate your
Assessment level of mastery in achieving the learning
competency.
In this portion, another activity will be given
Additional Activities to you to enrich your knowledge or skill of the
lesson learned.
1. Use the module with care. Do not put unnecessary mark/s on any part
of the module. Use a separate sheet of paper in answering the exercises.
2. Don’t forget to answer What I Know before moving on to the other
activities included in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your
answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through
with it.
If you encounter any difficulty in answering the tasks in this module, do
not hesitate to consult your teacher or facilitator. Always bear in mind that
you are not alone.
iv
What I Need to Know
In this module, you will be able to practically implement your newly developed
Business Plan. And this will help your target business most likely to succeed.
Because this is where you will actually operate the business. Thus, selling
your product/service to the potential customers. You are expected to operate
your own business and keep your business records to monitor the progress
of your business operation.
Learning Competencies:
• Implementing the business plan
CODE: CS_EP11/12ENTREP-0a-i-18
1
What I Know
Before starting with this module, let us see what you already know about
implementing a business plan. Answer the questions below in your answer
sheet.
2
Lesson
8 Business Implementation
What’s In
Instoredoes.com
Recalling our previous lesson. What can u say about the picture? How
is this related from our previous lesson?
3
Notes to the Teacher
The ability to listen is as important as the ability to speak.” -
Sheryl Sandberg
What’s New
Direction: What are the services offered from the following offices below?
Write your answer in your answer sheet.
1. Department of Trade and Industry (DTI)_____________________
2. Securities and Exchange Commission (SEC)_________________
3. Bureau of Internal Revenue (BIR)____________________________
4. Mayor’s Office_______________________________________________
5. Social Security System (SSS)________________________________
6. Philhealth__________________________________________________
7. Pag-ibig Fund_______________________________________________
Source: smallbusiness.chron.com
What is It
4
The concept of having a solid business that simply makes money and is
sustainable seems to be lost. However, even the most realistic well-thought-
out business plan is just a stack of paper if it isn’t implemented. So how do
you implement a business plan? www.arabianbusiness.com
Your business plan has to be realistic
First and foremost you have to go back to the beginning. Is your business
plan realistic and does it have clear goals, objectives and aims that suit your
aspirations? Do not get sucked into following the mass opinion of what your
plan should be like. Although the list below is not exhaustive, your business
plan should contain a clear outline of the following:
• Finances – More information about your profit and loss forecasts, cash flow,
finance needed, and investment opportunities.
Source: www.arabianbusiness.com
5
completing the tasks. Avoid micromanaging people with detailed explanations
of how to complete each task.
Time allocation
Each task should be paired with an appropriate time frame for
completion. You should be aggressive, but reasonable with your time
allocation in order to ensure, not just completion but competent work as well.
For assistance in framing this timescale, create your own Gantt chart – a
helpful tool that shows how long it will take to complete different tasks and in
what order the tasks should be finished.
While the above steps may seem like overkill, the early days of a start-
up are critically important – it’s a time when good management patterns are
set and also probably a lean era when revenue has yet to start rolling in.
The more efficiently you start implementing your business plan, the more
likely it is that you will survive this early period.
6
Liam Mooney, Founder of Blue Pencil and Club Fit For Business.
https://www.arabianbusiness.com/how-implement-business-plan 625819.html
7
3. Secure insurance for the business. Liability insurance protects the
business in the event of litigation. Consider life and disability insurance,
health insurance and fire insurance when you are leasing an office or
storefront.
Keeping Business Records
Good record keeping can help protect the business, measure the performance
and maximize profit.
Records are the source documents, both physical and electronic, that specify
transaction dates and amounts, legal agreements and private customer and
business details.
Developing system to log, store and dispose of records can benefit the
business. A systematic recording allows you to;
8
Source: https://www.foxfinancegroup.com.au/articles/importance-of-
business-record-keeping.html
What’s More
Directions: Do the activity below. Write your answer on your answer sheet.
Look for the nearest store in your place or a neighbor that is engage in
business that is operating for more than a year now. Ask how they started
their business and how it is being managed.
9
What I Can Do
MY BUSINESS PLAN
Business proposition
Management team
Marketing
Staff
Operations
Infrastructure
Finances
Assessment
Directions: Now that you are finished accomplishing the module, let us check
what you have learned. Choose the letter of the correct answer and write in in
your answer sheet.
1. Which office will you go to register your single owned business?
A. SEC C. BIR
B. DTI D. Mayor’s Office
3. To secure Tax Identification Number (TIN), which office will you go?
A. SEC C. BIR
10
B. DTI D. Mayor’s Office
11
C. Before starting a business, the entrepreneur must start selling
when there are available buyers.
D. None of the choices
12. To register your Business Trade name is done in the office of?
A. SEC C. Mayor’s Office
B. DTI D. Philhealth Office
12
Additional Activities
“Proper business record keeping provides the business a real advantage over
the competition in different ways.”
13
Answer Key
References
ELECTRONIC RESOURCES
Liam Mooney, Founder of Blue Pencil and Club Fit For Business.
https://www.arabianbusiness.com/how-implement-business-plan-
625819.html
https://smallbusiness.chron.com/importance-business-implementation-
34571.html
Entrepreneurship by Feliciano Fajardo
Source: https://www.foxfinancegroup.com.au/articles/importance-of-
business-record-keeping.html
Instoredoes.com
https://www.sec.gov.ph/
Department of Trade and Industry Philippineswww1.dti.gov.ph
Bureau of Internal Revenue | Official Gazette www.officialgazette.gov.ph
Assessment-Items 1-5, 11;13 and fifteen .quizes adopted from quipper.com
14
For inquiries or feedback, please write or call:
15