Lesson 1: Q2_The existing problem needs

Lecture Q2-Week 1

1. 2 nd QUARTER LESSON 1- ANALYZES THE EXISTING PROBLEM AND NEEDS IN THE COMMUNITY WHERE THERE ARE BUSINESS OPPORTUNITIES

2. Problems are part of life - they go together with being alive. And every community has problems, too; they go together with being a community. That's just a fact of community life. Analyzing community problems is a way of thinking carefully about a problem or issue before acting on a solution. It first involves identifying reasons a problem exists, and then identifying possible solutions and a plan for improvement. Opportunities can exist on paper or in the form of ideas. Opportunities usually related to the entrepreneur’s work experience, hobbies, or social environment. Opportunities can be found in many ways and in many places. Many people see opportunities but only entrepreneur acts upon them.

3. The initial step in identifying the needs of the community is through environmental scanning. This can be done through interviews sharing ideas with others reading, observations advertisement.

4. An entrepreneur can enhance a product’s usefulness and quality by applying creativity and imagination. This approach allows them to innovate, improve product features, and meet customer needs effectively, which is crucial for staying competitive in the market. Identifying the demands of the people involves understanding the community need, as it reflects what people require or desire, which can guide the development of relevant products or services.

5. FACTORS THAT HELPS IDENTIFY THE NEEDS IN THE COMMUNITY Industrial Information The growth of industry always creates opportunities for establishing an enterprise. Industrial information are news papers, technical and business journals that provide techniques and information on business opportunities

6. FACTORS THAT HELPS IDENTIFY THE NEEDS IN THE COMMUNITY Local Specialized Skills Traditional skills of the people in the community Evaluation of developmental plans Developed plans which are still possible in the community

7. FACTORS THAT HELPS IDENTIFY THE NEEDS IN THE COMMUNITY Technology Are modern gadgets which can be utilized to identify business opportunities Review of old projects in the community Old projects may become attractive when market of related production factors have changed.

8. What is the difference between GOODS and SERVICES? GOODS are products that are bought and sold in the business, while SERVICES are work done for others as an occupation or business.

9. What are the examples of goods and services available in your community?

10. Here are some examples of goods that may be available in a community:

11. Here are some examples of services that may be available in a community: Healthcare services – Hospitals, clinics, dental care, pharmacies, and emergency services. Education services – Schools, tutoring, libraries, and learning centers. Public transportation – Buses, taxis, ride-sharing services, and tricycles (in some areas). Utility services – Water, electricity, internet, and garbage collection. Financial services – Banks, ATMs, money transfer services, and loan providers. Repair services – Car repair, appliance repair, and electronics repair. Food services – Restaurants, catering, food delivery, and bakeries. Personal care services – Barbershops, beauty salons, spas, and fitness centers. Legal and advisory services – Law offices, notaries, and consultancy services. Postal and delivery services – Post offices, courier services, and package delivery.