Assessment:

Guide Question: use a one-word hashtag to describe our cuisine and in no more
than four sentences. Explain why you did came up with this answer. Use this task sheet to
write your answer.

#ManYaman

‘Manyaman’ is a Kapampangan word which means delicious, tasty, or savoury; in Tagalog,

it translates as “masarap”. I associate this word with our cultural and traditional cuisine
because it not only represents that we have delicious food that we are and can be proud of,
but also because the word itself has ‘Yaman’ which symbolizes the richness that resides in
our country and its people. The long history that was engraved to our hearts became our
foundation to create foods that can tell the story of who we are in which it will be an
unforgettable memory to whoever that will consume all that we, Filipinos can offer.

Mary Shaina Iniego. September 6, 2023

BSTM 3-1 TOURM 3105

Assignment 2: Essay
 Write not more than 200 words per question to explain your answer.

1. What advantages and disadvantages would face the entrepreneur introducing a new
hospitality/tourism product/services and those who entrepreneur introducing an
imitation or copied hospitality/ tourism products/services?

An innovative entrepreneur has an advantage to the market as they are the producer of
the product that they sell. There is no competitor as the product is originally yours.
Investments, increase of profit and more customers will be the indicator that the product is a
success. On the other hand, being a risk-taker is a good attitude in terms of starting a
business, however, it can also be classified as a disadvantage to an innovative entrepreneur
because there are no definite results or assurance that can guarantee the success of the
business. In starting a business, an entrepreneur will have to sacrifice a lot.

The advantage of an entrepreneur introducing an imitation to the market is that they

are indirectly learning from other entrepreneurs in which they can see the flaw and flow of
the product/services that they were imitating. These entrepreneurs can make improvements
that they can see fit in for their business to thrive. However, its disadvantage would always be
a shadow to the original innovation. Imitation entrepreneurs will also gain a tight competition
on the market as they are not one copying the product.

2. Why feasibility analysis is important in establishing business and what are its elements?

Feasibility analysis is important because it helps us to determine the activities-related,

specially the costs that are required to set up to run a business. Feasibility analysis examines
the potential risk, as well as to make an informed decision if we can carry the business, if the
business that we are venturing is worth taking the risk and on how to start the whole process.

There are four (4) elements of feasibility analysis:

1. Technical Feasibility – technical feasibility reviews the technical resources available. By

this, we will learn if we have enough equipment, knowledge and other resources that will
be crucial for the business.

2. Financial Feasibility – it tackles the cost/benefit analysis of the project. This will
determine if our project is viable to the market, as well as it outlines any financial risk to
the organization. Its aim is to understand the economic benefits.

3. Market Feasibility – is an evaluation on how the organization will deliver the product to
the market and see the feedback of the customers. This part includes the market analysis,
market competition breakdown and sales projection.

4. Operational Feasibility – this aims to know if the organization/business can complete

the project. You will determine if you have enough resources, skills and competencies to
complete this work