Environment and

Market (EM)
OBJECTIVES:
1. conduct SWOT analysis;
2. identify the different products/services available in the
market;
3. compare different products/services in Illustration
business;
4. determine the profile potential customers and
competitors;
5. generate potential business data based on SWOT
analysis.
LET’S RECALL:
__________1. An entrepreneur is looking forward to a long-
term goal of his/her business.
__________2. When misfortunes happen, consider these as
challenges, work them out and set good alternatives.
__________3. Look for income because you know that this
will be you and your bread and butter.
__________4. Good entrepreneurs assume full
responsibility over their business.
__________5. It means working diligently and consistently.
In setting up a business, consider the
needs and wants of people which
includes basic commodities for
consumption, clothing, shelter, and
education, to their wants and desires
that signifies wealth and an expensive
way of living.
HERE ARE SOME GENERATING
IDEAS FOR BUSINESS:
1. Examine the existing goods and services.
Business ideas may also be generated by
examining what goods and services are sold
outside the community. Very often, these
products are sold in a form that can still be
enhanced or improved.
2. Examine the present and future needs. Look
and listen to what the customers, institution,
and communities are missing in terms of goods
and services.

3. Examine how the needs are being

satisfied. Supply the products and services
that meet the demands of the market.
4. Examine the available resources around you.
Observe what materials or skills are available
abundantly in your area.
5. Read magazines, news articles, and other publications
on new products and techniques or advances in
technology. Pick up new business ideas from Newsweek,
Reader’s Digest, Business Magazines.The Internet serves as
a library where you may browse and surf on possible
businesses.
QUESTIONS THAT SHOULD BE CONSIDERED IN
SELECTING THE RIGHT IDEA:
1. How much capital is needed to put up the
business?
2. How big is the demand for the product? Do many
people need this product and
will continue to need it for a long time?
3. How is the demand met? Who is processing the
products to meet the needs?
How much of the need is now being met?
4. Do you have the background and
experience needed to run this particular
business?
5. Will the business be legal, not going against
any existing or foreseeable government
regulation?
6. Is the business in line with your interest and
expertise?
ENVIRONMENTAL SCANNING...
A process of gathering, analyzing, and
dispensing information for tactical or
strategic purposes. It entails obtaining both
factual and subjective information on the
business environment in which a company
is operating.
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THANKS!