How are you

TODAY!
1. Which of the following is the most
basic of all management functions?
a. controlling d. planning
b. directing
c. organizing
d. planning
2. What are considered as positive
factors of a business venture?
a. opportunities and weaknesses
b. strengths and opportunities
c. strengths and threats
d. strengths and weaknesses

b. Strengths and opportunities

3. A management function that clusters the
activities into departments or job positions,
and designating the personnel to head and
compose each department is called ______.
a. directing
b. organizing
c. planning
d. staffing

b. organizing
4. The term legal form refers to the type of
business ownership. Which type of business
ownership is the simplest and most common?
a. Corporation
b. Cooperative
c. Partnership
d. Sole proprietorship

d. Sole proprietorship
5. It is the ability to deal effectively
with people
a. Technical skills
b. Conceptual skills
c. Human relation skills
d. Technical skills

c. Human relation skills

 OBJECTIVE At the end of the
S
a.discuss the importance of
business planning;
lesson, the
students should
b. appreciate certain benefits be able to:
in business planning;

c. follow the basic principles of

business planning.

Entrepreneurship 9
“If you fail to
plan,
you plan to
fail”Benjamin Franklin
 PLANNING A
BUSINESS:
IT’S IMPORTANCE
& BENEFITS
 What to do

How to do it
PLANNING IS
When to do it
What to
expect in the
future

Entrepreneurship 9
Words to study

 micro means very small/limited in

quantity
endeavor means an effort to do a task
business planning is the process of
setting up goals for a particular business
business plan means any plan that works
for a business to look ahead.

Entrepreneurship 9
 WHAT ARE THE
POSSIBLE EFFECTS
IF THERE IS NO
BUSINESS
PLANNING?

Entrepreneurship 9
BENEFITS: A business plan
Making a can also identify
business a plan the defects of the
can minimize or business
eliminate risks operations.
A business plan
can also minimize
the cost of
production.

Entrepreneurship 9
PRINCIPLES:
Planning must be realistic

Planning must be based on

the needs of the community

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PRINCIPLES:
Planning must be flexible

Planning must start

with simple projects

Entrepreneurship 9
ROLE PLAY
Imagine that you’re meeting with a huge
potential customer next week, trying to close
a deal. But you know that they buy from a
competitor with lower prices. If you don’t
prepare in advance, the chances for making a
deal aren’t very good.

PTASk#4.2
PTASK#4.2
1. Planning should be adjusted to
changes to be effective and relevant
2. Planning should fit the needs of the
people in the community
3. Planning must be based on available
resources.
4. Planning should be responsive to the
trends in consumer tastes and
preferences
QUIZ #4.2
5. It needs simple and few resources
6. It requires very simple management and technology
7. Any planning which is not supported by adequate
resources is likely to fail
8. It provides a good training experience for operating
a business
9. it can make the difference between success and
failure for small businesses.
10. allows managers to plan the team's workload and
resources more accurately while running multiple
projects.

QUIZ #4.2
 1. Planning must be flexible
2. Planning must be based on the
needs of the community
3. Planning must be realistic
4. Planning must be flexible
ANS
5. Planning must start with simple
WER
projects
KEY
6. Planning must start with simple
projects
7. Planning must be realistic
8. Planning must start with simple
projects
Check your Understanding

Think of a business you would like

to pursue, and MAKE A SAMPLE
BUSINESS PLAN.

Entrepreneurship 9