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Course Overview: Entrepreneurship Senior High School Applied - Academic Unit 3
Lesson Focus: Business Opportunity Seeking, Screening, and Seizing
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Key Question: Why are entrepreneurs seen as opportunity seekers?
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Learning Objective:
Propose products/services solutions that meet needs using opportunity seeking techniques.
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Activity:
List top 5 in-demand products/services.
Analyze reasons behind high demand for these offerings.
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Focus on Demand:
Identify underlying reasons contributing to high demand for selected products/services.
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Consumer Behavior Factors:
Discuss factors that significantly influence purchasing behavior towards selected products/services.
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Opportunity Identification Process:
Opportunity Spotting
Opportunity Screening
Opportunity Seizing
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Entrepreneurial Opportunity Seeking:
Entrepreneurs as "innovative opportunity seekers" possess a spirit of inquiry to identify market needs.
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External/Macroenvironmental Sources:
Businesses are influenced by surrounding factors that shape opportunities and threats.
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Six Macroenvironmental Sources:
Demographic
Economic
Socio-cultural
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Continued Macroenvironmental Sources:4. Technological5. Ecological6. Political and Legal
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Example Scenario:
Students planning to open a milk tea shop.
Analyze macroenvironmental factors impacting their business idea.
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Macroenvironmental Sources Analysis:
Demographic:
Residents aged 15-50, largely Filipino, employed in various sectors.
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Economic Factors:2. Economic:
Majority employed with average monthly income Php40,000-50,000.
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Socio-cultural Factors:3. Socio-cultural:
High percentage of teenage population favoring milk tea over coffee.
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Technological Factors:4. Technological:
Collaboration with online delivery services and online ordering platforms.
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Ecological Factors:5. Ecological:
City enforced regulations against plastic bag usage.
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Political and Legal Factors:6. Political and Legal:
Necessity of DTI registration and city business permit acquisition.
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Internal/Microenvironmental Sources:
Factors controlled by management impacting resources and operations.
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Five Microenvironmental Sources:
Customers
Suppliers
Resellers
Competitors
General Public
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Market Disparities:
Regulations, deregulations, and supply chain changes affecting opportunities.
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Consumer Preferences:
Changes in consumer interests can create or eliminate opportunities.
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Technological Advancements:
Continuous tech advancements contribute to innovative business opportunities.
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Entrepreneurial Tip:
Consider shopping behavior trends; adapt strategies to stay competitive in a digital age.
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Activity:
Identify a business idea and list five applicable sources of opportunities supporting establishment.
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Questions Part A:
Importance of opportunity seeking in entrepreneurship?
Consequences of not utilizing various business opportunity sources?
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Additional Questions:3. Differences between an entrepreneur and a businessman?4. First step in seeking business opportunities?5. Contrast macroenvironmental vs microenvironmental opportunities.
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Questions Part B:
Identify business outside school and assess five macroenvironmental sources for business viability.
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Wrap Up - 3S of Opportunity Spotting:
Opportunity Seeking
Opportunity Screening
Opportunity Seizing
Essential first step in startup ventures for identifying business opportunities.
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Sources of Opportunities Summary:
External/Macro Environmental
Technological Discoveries and Advancements
Internal/Micro Environmental
Consumer Preferences and Interests
Industry and Market Disparities