Key concept on environment and market

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1. Key concept on Environment and Market

2. What are the characteristics that a good entrepreneur should possess?

3. Venn Diagram NEEDS WANTS

4.   FOLLOW UP QUESTIONS. What are the examples of the needs of the society? What are the examples of wants of the society? Why is it important to determine the needs and wants the people in a specific environment when generating business ideas? Why do entrepreneurs have to assess the environment and market?

5. To be successful in any kind of business venture, potential entrepreneurs should always look closely at the environment and market. Identifying the needs of the community, its resources available raw materials, skills, and appropriate technology can help a new entrepreneur in seizing a business opportunity.

6. The teacher will give four statements, the students will identify whether it belong to strength, weakness, opportunities, or threat. Availability of skilled labor, educated and trainable work force and management production The arrival of new competition as well as competitors. Lack of marketing skills and strategies Clothes belong to necessity of the people. Based on the given examples, how did you identify that given statement belong to strength, weakness, opportunities or threat? How can we say that it is strength? Weakness? Opportunities? Threats? The teacher will discuss the SWOT analysis

7. ACT - Through a flow chart they will discuss their steps in putting up a nail salon. ANALYSIS- They will share ideas where is the right location for their nail salon. APPLY - Each group will demonstrate their work through a role playing

8. Generalization Mr. Luistro , a very welthy businessman put up an apartment business in Nasugbu , Batangas . He thinks that there may be many people who don’t want to stay their house anymore, so they will transfer to an apartment. He also thinks that to be independent, you should not always be in comfort zone. So, he is confident enough that his business will not be in vain. He believes that he will get the attention of the residents there, so he gave flyers and provided tarpaulin to promote his business. But after doing so many efforts for his business, unfortunately, no one approach him to rent his apartment. What do you think are the reasons why the business didn’t succeed?

9. WRITTEN EVALUATION Directions: Write S if the statement belongs to Strength, W if it belongs to Weakness, O if it belongs to Opportunities and T if it belongs to Threats. The entrepreneur has lots of capital and has access to bank loans. Lack of customer service. Decrease in consumer demands. Open for export and import. Unique products and cheaper prices.

10. Assignment Directions: Utilize the SWOT. Be guided by the strategies in analyzing and formulating realistic activities. Research a business situation and apply SWOT to find the possible reason why it is declining in sale.