Applied_Economics_Industry_Analysis_Designed.pptx

Applied economics grade 12 quarter 2 chapter 3: Industry and environmental analysis: business opportunities identification. here is the topic 3.1 principles, tools, and techniques. a. competition b. supplier c. customers d. competitors e. substitute. this is the learning competencies that must achieve, identify and explain different principles, tools, and techniques in creating a business

1. Applied Economics - Grade 12 Quarter 2, Chapter 3 Industry & Environmental Analysis Business Opportunities Identification Topic 3.1: Principles, Tools, and Techniques

2. Introduction Industry and environmental analysis helps entrepreneurs identify business opportunities by studying competition, suppliers, customers, competitors, and substitutes. This process is crucial for business planning and long-term success.

3. Learning Competencies After this lesson, you should be able to: ✔ Identify and explain principles in creating a business ✔ Use tools and techniques for business analysis ✔ Evaluate external factors that affect opportunities

4. Principles, Tools, and Techniques

5. Competition Competition is the rivalry among businesses offering similar products or services. 📊 It encourages innovation, better pricing, and improved quality.

6. Suppliers Suppliers provide the materials and resources a business needs. 🤝 Strong supplier relationships = stability, cost efficiency, and reliability.

7. Customers Customers are the lifeblood of business. 🎯 Understanding customer needs ensures satisfaction, loyalty, and sales growth.

8. Competitors Competitors are businesses offering similar products to the same market. 📌 Analyzing competitors helps identify strengths, weaknesses, and opportunities.

9. Substitutes Substitute products/services replace what your business offers. 🔄 Example: Coke vs. juice. Substitutes affect demand and pricing strategies.

10. Summary ✔ Industry & environmental analysis guides entrepreneurs ✔ Key factors: competition, suppliers, customers, competitors, substitutes ✔ Using principles, tools, and techniques helps in making better business decisions

11. Reflection / Activity Think of a business idea 💡 1. Who are your customers? 2. Who are your competitors? 3. What substitutes exist? 4. How would you work with suppliers? Discuss with your group.

12. Thank You! Applied Economics - Grade 12 Industry & Environmental Analysis Business Opportunities Identification