Activity: Word Hunt (2 mins)

Directions: Group the class into three (3). Each

group will be given a task. Every group task is
search and circle the word you see in the puzzle.
If you are done paste your answer on the board.
The fastest group with the correct answers will
earn the points.
O Q W E R S T Y U I O P K

P B U S I N E S S V B P E

M A B C D O Y Z X V R R N

A L L L V R Y Z X O Y O R

R A J D R E S S C N G B E

K D N N E E E E K K I L Y

E E E E N K S P A L E E E

T E X P I S A T I O N M S

O P P O R T U N I T Y S S
 ANSWER:
O Q W E R S T Y U I O P K
P B U S I N E S S V B P E
M A B C D O Y Z X V R R N
A L L L V R Y Z X O Y O R
R A J D R E S S C N G B E
K D N N E E E E K K I L Y
E E E E N K S P A L E E E
T E X P I S A T I O N M S
O P P O R T U N I T Y S S
at the end of the lesson, the students should be
able to:
Analyze the market need;
1. identify the process of creating new venture
2. create logo for business plan.
 UNLOCKING DIFFICULTIES
Business - is the practice of making one's living or
making money by producing or buying and selling
products (such as goods and services).
Entrepreneurial Process- can be defined as the
steps taken in order to begin a new
enterprise. It is a step-by-step method
one has to follow to set up a business.
Opportunity- Seeking- the process of
considering, evaluating, and pursuing market-
based activities that are accepted to be beneficial
for the business.
Business problems- are obstacles that a business
might encounter as they continue to conduct
operations.
Market- is a place where parties can
gather to facilitate the exchange of goods and
services.
DESCRIBE ME!
1 2
 Entrepreneurial Ideas
The Creation of an entrepreneurial idea
leads to the identification of entrepreneurial
opportunities, which in turn results in the
opening of an entrepreneurial venture.
The Entrepreneurial Process is the sequence of steps
and activities involved in starting and managing a new
venture. It encompasses the identification of
opportunities, gathering resources, creating a business
plan, launching the venture, and managing its growth
and development.
Figure 1. The Entrepreneurial Process of Creating New Venture

Presented by Nick L. Aduana, Entrepreneurship in Philippine Setting for Senior High School,2017, C&E
publishing page 46, Aduana, 2017.
 Steps in Generating to a Business Idea.
1. Ask family and friends
The first place any entrepreneur should look
when coming up with new business ideas is their
own network of family and friends. After all, these
are the people who know you best
and will be most likely to support your
new venture.
 By asking those closest to you for ideas, you'll
not only get some great suggestions, but you'll
also get an idea of what kind of business would be
a good fit for your skills. Your friends and family
will also have very different perspectives than
you. They have their situations they deal with
every day that you may not have thought of.
2. Consider problems in your everyday life - then solve
them!
The best business ideas come from solving problems that
you or others face every day. If there's something in your life
that frustrates you, chances are there are plenty of other people
who feel the same way. Come up with a list of different
problems you face going about your day. Once you have a list
of about 10 different problems, try to brainstorm 1 to 3 different
solutions that don't exist yet. By identifying these pain points
and coming up with a solution, you'll be well on your way to
starting a successful business.
3. Build on your hobbies
You're not going to get many business ideas for rocket
engineering if you've never even built a model rocket before.
This is why it's important to look at your hobbies and interests
when trying to come up with a business idea. It's much easier
(and more enjoyable) to build a business around something
you're passionate about.
If you love hiking, for example, you could start a hiking gear
rental company or a hiking tour company. If you're into cars,
you could start a car detailing business or a classic car
restoration business.
4. Consider if there are tasks you could make easier
The problem many entrepreneurs run into when thinking
of a new business idea is trying to create the next biggest
thing. But sometimes the best business ideas are those
that solve a more mundane problem A great way to come
up with new business ideas is to think about ways you
could make existing tasks easier or more efficient. For
example, let's say you're a real estate agent. You could
come up with a service that helps people find their dream
home by doing all the research for them.
5. Build on existing products or services
If you're struggling to come up with new ideas for a business, it
often helps to build on products or services that already exist.
You won't have the pressure of coming up with something
completely new, and you can focus on improving upon what's
already out there. Research similar businesses; what are they
doing well? What could you improve upon? A great way to do
this is by looking at the current services or products you're
already using and asking yourself the "What if?" questions.
What if this service was available in my city? What if this
product was cheaper/better quality/easier to use?
 Identification
of
Entrepreneurial
Opportunities
 Social changes are crucial for the inception of new
business opportunities. For instance, the merging perspective on
beauty and cosmetic industry has paved the way for clean and
guilt-free products. Many brands have taken advantage of this
and launched their niche products to compete with the ever-
dominant brands. You should keep a keen eye on the political
changes as well. Introducing new government policies can
impact market behavior and expand the scope of various sectors
as we know. For instance, the economic
policy introduced in 1992 liberalized the
Indian market to enhance free trade.
 Economic changes are highly relevant to business
opportunities identification. Many factors can contribute
to economic changes, social, and technological, policies,
and regulations. It's all interconnected and who knows, it
could lead to the identification of business opportunities
in entrepreneurship. Most technological changes pave
the way for entrepreneurial opportunities and new
business opportunities. Some of the world best business
opportunities have been a result of the technological
impact, like AI's penetration.
 Identify Unsatisfied Need
Often unsatisfied needs give birth to world best business
opportunity. Listen to your customers and identify
problems that need solving, and potentially identify
opportunities. Malls came into existence, replacing the
traditional marketplace and highlighting convenient
shopping under one roof. Now online business
opportunity like E-commerce is challenging the mall
culture.
 Understand Problems
Another way for identifying business opportunities is to
understand the problems faced by people. Understand
what they want and how they want their needs met. For
how people needed groceries delivered at home, and now
we do. Find Solution
Often finding a solution to the problems faced by people
presents innovative and new business opportunities. For
instance, instant grocery delivery services like Swiggy
Instamart or Blink are thriving.
 Stages of Entrepreneurial Venture
Stage 1: New-Venture Development:
This is the initial stage which is associated with the formation of
the new venture. It lays down the processes to develop an
entrepreneurial venture and therefore requires appropriate assessment
and innovation. It involves the assimilation and distribution of
resources. Beside this, it resource involves assessment, innovation,
and networking at the initial stages of entrepreneurial
venture development strategy. The various ingredients
of the strategy like vision, mission, goals and general
direction that the organization will take are decided at
this juncture.
Stage 2: Start-Up Activities:
The next stage is concerned with creating the foundation
of the business plan, search for sources of capital and finance,
performing marketing activities and developing an operative
entrepreneurial group.
Stage 3: Growth:
The growth stage requires major transformations in the
form of improvements in the strategy that has been adopted by
the entrepreneur for the business venture. The strategy has to
be redrafted keeping in mind the competition and other forces
the current business environment.
Stage 4: Business Stabilization:
As the name suggests, the stage of business stabilization
is referred to as the stage where the new venture that has been
initiated is now enjoying stability in its endeavors. This stage
is a combination of both the events that happen in the market
as well as the efforts made by the entrepreneur. This stage is
characterized by increased level of competition, gaining -
recognition in the market, customer indifference to
products/services of entrepreneur, etc.
Stage 5: Innovation or Decline:
Lastly, the stage associated with entrepreneurial
venture development is either innovation or decline
depending on the market positioning and image of the
products/services of the new venture. In this stage, the
choice before firms is very simple; they must innovate or
they will not survive.
 Business Logo
It is a company’s first introduction to
consumers. If designed well, it can pique the
interest of the public and invite them to
learn more about the company.
 Importance of Business Logo
 It Grabs Attention It Makes a Strong First
Impression
It's the Foundation of It's Memorable
Your Brand Identity
It Separates You from Competition It Fosters Brand Loyalty
 Your Audience Expects it
 Activity number 2: Short Quiz
Direction: Write the correct answer to ¼ sheet of paper.
QUIZ QUESTION:
1. It is the identification of entrepreneurial opportunities, which in
turn results in the opening of an entrepreneurial venture.
2. Who presented Entrepreneurial process of creating a new venture?
3. It refers to the company’s first introduction to consumers.
4. It refers to the sequence of steps and activities involved in starting
and managing a new venture.
5. Give 1 importance of logo in business.
Why entrepreneurial process​
is important in our life?
 Assessment: True or False
Direction: On the space provided before the number, write T if the statement is true and F if
the statement is false.
_____ 1. An entrepreneur enters a business because of its profitability.
_____ 2. New business ideas provide business opportunities.
_____ 3. The entrepreneurial process starts with identification of entrepreneurial opportunities.
_____ 4. Not all changes in the external environment provides business opportunities.
_____ 5. Discovery and advancement in the use of technology are additional good sources of
business opportunities.
_____ 6. Interest and hobbies of the people are possible good sources of entrepreneurial ideas.
_____ 7. The industry environment of the business is under technological discovery and
advancement sources of opportunities.
_____8. Entrepreneurs need not observe and evaluate the priorities of the government.
_____9. The business operates in the industry environment.
____ 10. Opening a Halo – halo business during summer season is ideal.
 HOMEWORK
1. Make research about Essential
in Entrepreneur’s Opportunity-
Seeking.
THANK YOU
FOR
LISTENING!