Pre – Assessment

Etiquette

Customs Practice

RULES AND
REGULATIONS

System Order

Method

Practice

Building your own successful business is a significant accomplishment. It will always have
challenges, but when things go well, it is even more rewarding. You will be able to look back on your
accomplishments and know that they were the result of your own hard work. All businesses begin with
an idea, and those ideas can grow and develop into fully-fledged businesses that make a profit and have
a significant global impact. Developing new products and services generates new job opportunities and
boosts economic growth. The prospect of work should excite an entrepreneur. They should always be
driven to succeed and overcome challenges. They should not only set lofty goals for themselves, but also
demonstrate that they are committed to achieving them despite the numerous setbacks that may occur.
A successful entrepreneur always has a strong sense of self-confidence and a positive view of their
abilities and skills. Their character is assertive and powerful. They are always focused and do not linger
on the issues at hand. This is what distinguishes them from the competition.

Valuing Integration

Organizations with various structures and operating in various environments must be managed.
The management's primary activity is to make numerous decisions, which can be simple or complex in
nature, and can have a high or low impact. Every organization makes decisions of all shapes and sizes on
a daily basis, ranging in importance from minor to critical. It is critical that decisions be effective in order
for the organization to function efficiently. The organization thrives on the variety and quality of
decisions made over time. High-quality, timely decision-making improves an organization's performance.
A decision is defined as 'the act of reaching a conclusion or making up one's mind. As per another
definition the decision is 'a position or opinion or judgment reached after consideration. A tactical
decision or a strategic decision can be made. Strategic decisions are "chosen alternatives that affect key
factors that determine the success of the organizational strategy" as opposed to tactical decisions,
which affect the day-to-day implementation of steps needed to achieve the goals.
 Top management's role extends beyond making decisions that affect all employees. It is also to
set the standard for how managers treat their employees and interact with one another, which has an
impact on the company's success. Understanding the effects of their role enables the top management
team to make necessary changes to the way they make decisions, interact with other managers and
teams, and are perceived by employees. Employees are more likely to do their jobs enthusiastically and
contribute to the company's success when they believe their input is valued.

Application

A product development strategy is a plan for creating new products or improving the
performance, cost, or quality of existing ones. The strategy assists a company in achieving business
objectives such as expanding into new markets, selling more to existing customers, or gaining business
from competitors. A successful product development strategy can boost revenue and profitability, but
careful planning is required to avoid costly mistakes. Product development is a high-risk endeavor, with
many new product initiatives failing. Set measurable goals and review progress at each stage of
development, from idea generation to technical and commercial assessment to detailed development
and launch, to reduce risk and ensure the program delivers the expected benefits. Focusing on
developments that meet certain criteria is essential for success. A key to success is to focus on
developments that meet genuine customer needs, rather than developing exciting technical features
that customers do not need.

Post - Assessment

A business strategy is a documented plan that outlines how an organization intends to achieve
its objectives. A business strategy contains a number of key principles that outline how a company will
achieve these objectives. For example, it will explain how to deal with competitors, examine customer
needs and expectations, and examine the long-term growth and sustainability of their organization. A
strategy is important because it allows businesses to assess how they are performing, what their
capabilities are, and whether these capabilities can help them grow. Not every business gets it right the
first time. All organizations have natural weaknesses for a variety of reasons. A business strategy
attempts to address these flaws so that companies do not trip and suffer undue consequences.
Strategies consider these potential risks and assist in developing solutions to overcome them. A business
strategy establishes a vision and a course of action for the entire organization. It is critical that everyone
in a company has clear goals and follows the organization's direction or mission. A strategy can provide
this vision and keep individuals focused on the goals of their company.

Programs and Policies on Enterprise Development Lesson 2

Pre – Assessment

 A company's strategy development is its plan to achieve consistent growth. This technique
includes detailed data and objectives that describe how your team intends to achieve each goal.
In your strategy, you will also include the company's vision and mission to ensure that everyone
on the team is working toward the same goals. To generate new ideas, extensive research may
be required, and the entire process may take several months. Business policies are the
guidelines that an organization develops to govern its actions. They establish the parameters
within which decisions must be made. Business policy also addresses the acquisition of
resources necessary to achieve organizational goals.
 Technology has transformed business as we know it, and businesses in a variety of industries are
looking to use it to improve their workforce, build brand recognition, and boost their bottom
line. Accounting, data collection, sales, and digital promotion are just a few of the areas where
technology has transformed businesses. Businesses can now reach a wider audience thanks to
advances in information technology. It is now easier than ever for businesses to conduct
international trade. Emails, text messages, instant messaging, websites, and applications have
made global communication more efficient and effective than ever before.
 The strategic management process is a continuous culture of appraisal that a company uses to
outperform its competitors. As simple as it may appear, this is a complex process that also
includes developing the organization's overall vision for current and future goals. Different
organizations develop and implement their management strategies in different ways. As a
result, the organization can choose from a variety of SMP models. The best model is determined
by a number of factors, including: The organization's current culture, the organization's market
dominance, Leadership personality, Experience of the organization in developing and
implementing SMPs and Industry and rivalry.

Practice

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Valuing Integration

There are numerous advantages to effective strategic planning. It compels organizations to

anticipate future opportunities and challenges. It also forces them to anticipate risks and understand the
resources required to capitalize on opportunities and overcome strategic challenges. Strategic planning
also provides individuals with a sense of direction and unites them around a common goal. It establishes
standards and holds people accountable. Strategic planning has the potential to improve operational
plans and efficiency. It also assists organizations in limiting the amount of time spent on crisis
management, where they are reacting to unexpected changes that they did not anticipate or prepare
for.

Application

Small businesses are more agile than larger corporations and are better able to adapt to
changing market conditions. A small business is better positioned to hear feedback and observe
changing preferences because it is closer to its customers. A lean company can shift gears more easily
than a large one, especially if it hasn't spent a lot of money on obsolete infrastructure. Employees in a
small business are more likely to be cross-trained; small businesses often lack the resources or the need
to hire dedicated employees for every business function. This adaptability comes in handy when you
need to rethink your business model, and it allows you to retain quality employees and benefit from
their knowledge of your industry. Small businesses can take chances that would be more difficult for
large companies. They can test new products in smaller markets, with minimal investment, observing
variables and obstacles before deciding to try an idea on a larger scale.

Post - Assessment

Employees follow in the footsteps of ethical leadership when it is demonstrated by

management. When business ethics is a guiding principle, employees make better decisions in less time.
This boosts productivity and employee morale. When employees work with honesty and integrity, the
entire organization benefits. Employees who work for a company that requires a high level of business
ethics in all aspects of operations are more likely to perform at a higher level. They are also more likely
to remain loyal to that organization.

Environmental Scanning and Business Analysis Lesson 3

Pre – Assessment

1. 5 Careful study of trade journals - this is very appropriate, if not the best solution. This information is
available to the public, and anyone could view it. Trade journals, magazines, and newspapers are
excellent sources for the latest business news and trends, and can sometimes be the only source for
private company information. Trade journals in particular focus on one industry and provide in-
depth information on trends, new products and other topics of interest to people working in that
industry. The type of trade publication Trade publications have a specific focus and are intended for
a specific profession or trade. While the focus of many trade publications is obvious from their titles,
others are not so obvious.
2. 1 Wiretapping the telephones of competitors - this is probably even illegal. This is very
inappropriate, and if you are caught, you will probably be sued, and your credibility will be ruined.
Wiretapping, also known as lawful interception, is the illegal interception of telecommunications.
Wiretapping was traditionally used to monitor telephone conversations, but with the massive
increase in Internet usage, wiretapping has expanded to include internet telecommunications.
3. 3 Posing as a potential customer to competitors - this is a grey area. There is an industry called
corporate espionage, where there are actually employees that go gather info from other companies
by posing as potential clients. Lying to get what you want is rarely a good idea. People whose
creativity does not elevate them above lying should probably not be advising anyone. This is NOT
how you should conduct competitor research. Do not call them pretending to be a client or a
representative of a client in order to obtain pricing information or access materials that they would
not share with a competitor. It's dishonest, fraudulent, and, in many cases, illegal.
4. 3 Buying competitors' products and taking them apart.
5. 3 Taking public tours of competitors' facilities

Review

1. Looking ahead, economists see a range of factors affecting overall GDP growth, but remain
optimistic about the outlook for 2022 and beyond. ADB and the World Bank forecast strong GDP
growth due to rising vaccination rates, falling COVID-19 infections, and normalizing economic
activity (specifically in services) following the lifting of pandemic restrictions. The outlook is also
buoyed by strong fundamentals relative to many of its ASEAN neighbours. Unemployment now
sits at 6% (having reached 10% in 2020) and remittances from Filipinos working abroad, an
important stabilizer in the Philippines’ economy, are steadily growing as key markets rebound
from the pandemic (especially the US, China, UAE, and Japan. The return of international
investment is also expected to play a key role in the Philippines’ recovery, particularly in the
wake of legislative changes to the Public Service and Foreign Investment Acts in March 2022.
The amendments seek to strengthen foreign investment by allowing foreigners to build and fully
own domestic enterprises, while also lowering the minimum employment and paid-in capital
(for select technology) that is required, while also removing restrictions on foreign equity in
most public service companies, including key utilities and infrastructure holdings (e.g. ports,
expressways, railways). As is the case for most economies, the key downside risk remains the
prospect of further COVID-19 waves due to the emergence of new variants. President Ferdinand
 “BongBong” Marcos Jr. stated during his State of the Nation Address on 25 July 2022 that the
country cannot afford another lockdown and is looking to revise COVID-19 restrictions in the
country by mid-August. Inflation is likely to persist in the medium-term. While the Philippines
has little direct trade exposure to Russia and Ukraine, the invasion’s impact on global food and
energy prices has already been sorely felt, with prices up 6.4% in the year to July. The
Philippines has also been affected by the prospect of rising interest rates in the US and
elsewhere which have weakened the Peso exchange rate and further lifted the price of imports.
This will not only present economic headwinds but also a political challenge for President
Marcos Jr. Despite announcing a monthly cash payment (PHP 500/NZD 14.63) for Filipinos
earning below the median wage and a fuel subsidy for taxi and public transport drivers, there
are signs of growing frustration at the Government’s response (or perceived lack thereof).
Following speculation that the Bangko Sentral ng Pilipinas (BSP) would take a more dovish
approach to fighting inflation, noting concerns around an overcorrection, the bank unexpectedly
tightened their benchmark rate by 75 basis points on July 14, bringing it to 3.25%. Most
commentators now see the policy rate reaching 4.5% by the end of year (still below the 2019
highwater mark of 4.75%).

2. Siem Reap is a scenic spot that attracts the interest of travelers from around the globe. The
World Heritage Site Angkor Wat is located to the north of the city. Angkor Wat is the generalized
name for all of the ruins and archaeological sites related to the Angkor temple cluster.

Practice

External threats to your business are the most common. Threats are one of four components of
a SWOT analysis, along with strengths, weaknesses, and opportunities. What are your potential threats?
They could include the relative strength of your competitors, an industry-wide shortage of materials
needed to manufacture your products, or a slowing economy. Unlike identifying weaknesses, which can
be difficult to identify objectively, recognizing threats requires only a look around your environment and
communication with peers and customers. They may include the following: Weather. These have an
impact on seasonal businesses that rely on favorable weather. The financial situation. You will fare
better than others if you sell something that consumers require in any economy. There is a scarcity of
materials. Tensions in an oil-producing country cause significant price increases, increasing production
costs for plastics manufacturers, trucking companies, and others. Your computer system has been
compromised. This can cause your website to go down for days during a critical selling period. Your
industry has a high level of employment. This may make it difficult to find skilled workers. Market
demand has dwindled. Consider Blockbuster falling behind Netflix due to its late start with streaming
content. Your company should address threats in order to create opportunities, while other events
cannot be changed.

Valuing Integration

A substitute product fulfills the same function as another product on the market. When a
consumer has more of one commodity, he or she can demand less of the other. The demand for
substitute products is inversely related. Consumption of one product reduces or eliminates the need for
the other. Giving consumers more options increases market competition and, as a result, lowers prices.
While this may be beneficial to consumers, it may have the opposite effect on businesses' bottom lines.
Alternative products can reduce a company's profitability because consumers may prefer one over
another or see market share diluted. When you examine the relationship between the demand
schedules of substitute products, you will notice that if the price of a product rises, so will the demand
for a substitute. This is due to the fact that people will prefer the lower-cost substitute over the higher-
cost one. If the price of coffee rises, for example, demand for tea may rise as consumers switch from
coffee to tea to stay within their budgets.

Application

Economic factors typically influence household and corporate income and purchasing power.
Purchasing power is the amount of money that customers pay to purchase goods and services.
Economic factors also influence supply and demand, which has a significant impact on the free flow of
services and goods in the economy. Companies can benefit from technological breakthroughs or face
challenges competing with them as technology advances. For example, a company that manufactures
GPS devices for personal vehicles may see a decrease in business as a result of GPS integration on
mobile devices, but they can overcome these challenges by developing new products. Other businesses,
such as health care providers, can use modern methods to collect information from patients, maintain
patient records, and streamline patient care. As political officials leave office and new ones take their
place, the policies they enact frequently have an impact on businesses in relevant industries. Businesses
closely monitor legislative bills to prepare for potential changes due to the inconsistency of politics.
Taxation, tariffs, employment law, competition regulation, import restrictions, and intellectual property
law are all policies that can have a long-term impact on businesses. Companies impacted by political
decisions must modify their processes in order to comply with new legislation and regulations, but doing
so can help them stay in business. Companies with successful products and services assess the
demographics of their target market to ensure that their offerings meet the needs of those who benefit
from them. They also administer tests to determine how well they serve their customers. This assists
them in determining whether their target market has changed and how they can develop better ways to
serve their loyal customers while also gaining new ones. Demographic factors influencing business
decisions and processes include: Age, gender, race, nationality, belief system, marital status, occupation,
income, and level of education are all factors to consider. People's purchasing habits are influenced by
where they live, their personal values, and their socioeconomic status. When developing and marketing
products, businesses consider social factors, and many use current events, movements, and social issues
to appeal to their customers. A company that supports a women's organization, for example, may gain
the trust and loyalty of female customers. Catering to the specific preferences and expectations of
underrepresented groups, who now have more market influence than in previous years, can also
contribute to customer satisfaction and business growth.

Post Assessment

External factors influence business performance because external factors are rapidly changing the
business landscape, and companies that fail to keep up will be replaced by others. Businesses cannot
rely solely on external technology to gain a competitive advantage. They must invest in internal
databases, human resources, and intellectual property as well as in their own assets.
Lesson 4: Strategy Formulation

Pre – Assessment

Adaptive Method – is a strategy that emphasizes learning from previous outcomes and decisions in
order to improve future practices. It's a different approach to traditional project management, which
typically relies on rigid governance, waterfall outcome delivery, and annual planning and funding.

Growth Strategies – is an organization's strategy for overcoming current and future challenges in order
to achieve its expansion goals. Increasing market share and revenue, acquiring assets, and improving the
organization's products or services are all examples of growth strategy goals.

Essentials of Potential Strategies - It means the difference between a struggling nonprofit and a forward-
thinking, cause-driven organization that is changing the world. Creating a culture that values planning is
critical not only for surviving a project, but also for thriving long after the project is completed. Strategic
planning necessitates ideas, inspiration, and hands-on labor to effect change.

Practice

Jollibee is a fast-growing fast-food restaurant chain with over 1,300 locations worldwide,
including 1,150 in the Philippines and 234 in international markets. She now has 41 locations in North
America. In comparison, the Philippines has only 640 McDonald's locations. Jollibee has proven to be
much more than a Filipino McDonald's over the years, despite being commonly referred to as such. In
fact, it is regarded as a Philippine success story, and is frequently referred to as a source of national
pride in business school classrooms in the Philippines. The first thing that needed to be worked on was
the company's name and logo, which would be able to compete with its biggest competitors in the fast
food market. Jollibee's founding family decided to consider Filipino characteristics: these Asian people
have always been distinguished by hard work, perseverance, and, at the same time, kindness and
cheerful disposition. That is why the company's mascot is a cheerful bee - hardworking, jolly, and
enterprising, always looking for something to do. Since then, the red bee, who wears a tuxedo and
smiles broadly, has become the face of Jollybee's company. Yes, McDonald's had extensive experience
and a well-developed work plan. However, they lacked Jollibee's main competitive advantage: a distinct
local flavor that Filipinos valued. Tony was born in China, but he was raised in the Philippines. He knew
what the locals wanted — sweeter dishes that McDonald's didn't have. Today, the company's flagship
product is known as Chickenjoy. This food is popular far beyond the Philippines: it is growing in
popularity in Vietnam, where there are already more than 100 stores, and it is also popular in Singapore,
Hong Kong, and Brunei.

Valuing Integration

To be a successful business, you must find ways to stay ahead of your competitors. It's often easier said
than done, and there's no easy way to beat your competition. Every market has competition. Smarter
businesses mitigate the impact of competitors in order to increase market share.
One likely way to outperform your competitors is to address the needs of your shared target audience
better than they can. In order to determine exactly what your customers want while using your products
or services, ask open-ended questions. After you've identified a customer's pain points, you can try to
solve them by discussing their problems in the customer's language. Once you've determined who at
their company can solve those pain points and who is authorized to purchase your products and
services, you can move on to the next step. (This person is not always the same person who can solve
the problem.)

Specialization results in a scalable and profitable business. A niche market is trustworthy, and the
prospects are easier to reach. Furthermore, the customer retention rate is high. Begin by focusing on
locally relevant platforms where your target customers hang out, and develop a niche marketing
strategy for them. We've discussed how to create a marketing plan and provided examples for you to
use in your own business. Developing a niche through storytelling and specialization can be a long-term
effort, similar to identifying and resolving pain points. Take several weeks to develop your story, and
then turn it into content such as blog posts and email marketing campaigns on a regular basis.
Specialization can also be a long-term process in which products and services are gradually phased out.

One of the simplest ways to outperform your competitors is to offer lower prices. To determine the
ideal price point, you must first understand how much your competitors' goods or services cost.
Investigate which competitors provide the best value. Then you must decide whether what you are
offering adds more value to the table and, as a result, should be priced higher. If beating your
competition is your primary pricing concern, choose a pricing strategy based on competition. This
strategy disregards product costs and consumer demand. Instead, you concentrate on the current
market rate for your goods or services. You then set your price to be within the range of prices offered
by your competitors.

Application

The idea is that the bargaining power of buyers in an industry influences the seller's competitive
environment and ability to achieve profitability. Strong buyers can put sellers under pressure to reduce
prices, improve product quality, and provide more and better services. All of these expenses are borne
by the seller. A strong buyer can increase the competitiveness of an industry while decreasing the
seller's profit potential. A weak buyer, on the other hand, one who is at the mercy of the seller in terms
of quality and price, makes an industry less competitive and increases the seller's profit potential.

Post Assessment

An action plan is a document that outlines the steps that must be taken in order to achieve a specific
goal. It divides the goal into actionable steps that are simple to follow and track. An action plan's
purpose is to clarify what resources are needed to achieve the goal and to create a timeline for when
specific tasks must be completed. A well-developed action plan in project management can serve as a
blueprint for the project manager to break down a large project into smaller, more manageable ones.
Developing an action plan necessitates a thorough understanding of the goal and objectives, as well as
the strategies for achieving them. Before developing an action plan, it is critical to consult with all
stakeholders to ensure that it adequately addresses their needs. An action plan may include deadlines,
resources required to complete tasks, and key personnel in charge of implementation. The action plan
should also clearly define who is in charge of each task, when tasks must be completed, and how success
will be measured.