“PAINT ME

A
PICTURE”
 SCENE 1:
Business Man
who just open a
business.
 SCENE 2:
Business partner
planning for their
business.
SCENE 3: Business
Man/Woman who
experience
bankruptcy
 UNDERSTANDING
BUSINESS CONCEPTS
AND INTERNAL
FOCUSED.
PRESENT A ROLE-PLAYING WHERE YOU
AND YOUR GROUPMATES IDENTIFY THE
POTENTIAL PRODUCT OPPORTUNITIES
WITHIN YOUR ENVIRONMENT.
CRITERIA:
CONTENT 15%
CREATIVITY 10%
RELEVANCE TO THE 5%
TOPIC
TOTAL 30%
1. Why do you think that the product
you choose has potential?

2. What strategies will you apply to

maintain the growth of your business?
Business concept is an idea for a
business that includes basic information
such as the service or product, the target
demographic, and a unique selling
proposition that gives a company an
advantage over competitors.
A business concept may involve a new
product or simply a novel approach to
marketing or delivering an existing
product. Once a concept is developed, it
is incorporated into a business plan.
To bring about the business concept,
the entrepreneur should be able to
recognize an opportunity in terms of
product or services.
Product Opportunity exist when there
is a gap between what is currently on
the market and the possibility for new
or significantly improved products
that result to emerging trends.
Opportunity recognition is relevant to an entrepreneur,
it is the active, cognitive process (or processes) through
which individuals conclude that they have identified
the potential to create something new that has the
potential to generate economic value and that is not
currently being exploited or developed, and is viewed
as desirable in the society.
People might be wondering how entrepreneurs come up with
potential products. Systematic innovation involves “monitoring
seven sources for innovative opportunity” (Drucker, 1985, p.
35). The first four are internally focused within the business or
industry, in that they may be visible to those involved in that
organization or sector. The last three involve changes outside
the business or industry.
Internally Focused - The unexpected
(unexpected success, failure, or outside
events). An entrepreneur may be able to
discover opportunity such as in failures like
overproduction of fresh tomatoes thus the
entrepreneur was able to preserve tomatoes
through drying or boiling.
- The incongruity between reality as it actually is
and reality as it is assumed to be or as it ought to
be. Children doesn’t choose vegetables over meat
but now in reality entrepreneurs are making ways
that children will love vegie foods like shawarma,
vegie dumplings and the like.
- Innovation based on process need. In the
pandemic times, medical face mask become
scarce to cope with the need, entrepreneurs
provided reusable facemask for nonmedical
practitioners.
- Changes in industry structure or
market structure that catch everyone
unawares. The market competition becomes
an opportunity like the popping up of
convenience stores which grew like
mushrooms around the city blocks.
 GROUP
YOURSELVES
INTO (5).
DO A RESEARCH AND IDENTIFY
PRODUCT OPPORTUNITIES ONLINE.
AFTER THAT, WRITE A SHORT
PARAGRAPH EXPLAINING
OPPORTUNITY AND WHY THEY
BELIEVE IT HAS THE POTENTIAL TO
BE SUCCESSFUL.
ASSIGNMENT!
study about
Externally Focused
and Entrepreneurs
discover/create.