𝑶𝒃𝒋𝒆𝒄𝒕𝒊𝒗𝒆𝒔:

𝑰𝒏𝒕𝒉𝒊𝒔 𝒍𝒆𝒔𝒔𝒐𝒏 , 𝒔𝒕𝒖𝒅𝒆𝒏𝒕 𝒘𝒊𝒍𝒍 𝒃𝒆 𝒂𝒃𝒍𝒆 𝒕𝒐:

 

𝟏 . 𝑨𝒏𝒂𝒍𝒚𝒛𝒆 𝒕𝒉𝒆 𝒎𝒂𝒓𝒌𝒆𝒕 𝒏𝒆𝒆𝒅 .

 

 
viability, profitability, and customer
requirements;
 
Will meet the market need; and

5.𝐹𝑖𝑛𝑎𝑙𝑖𝑧𝑒𝑑
  𝑎𝑛𝑎𝑐𝑐𝑒𝑝𝑡𝑎𝑏𝑙𝑒𝑑𝑒𝑡𝑎𝑖𝑙𝑒𝑑 𝑏𝑢𝑠𝑖𝑛𝑒𝑠𝑠 𝑝𝑙𝑎𝑛
 Entrepreneurial Process

Is a step-by-step procedure in
establishing any kind of business that an
entrepreneur has to undergo.
 Scanning the Marketing Environment

Is the starting point of any new venture that

involves understanding and knowing the
intricacies of the macroenvironment,
microenvironment, and internal
environment.
 3S of Opportunity Spotting and Assessment

Opportunity – is an entrepreneur’s business idea that can potentially

become a commercial product or service in the future.
 S1: Seeking the Opportunity

Is the first step and is the most difficult of all

due to the number of options that the
entrepreneur will have to choose from. It
involves the development of new ideas from
various sources.
 Methods of Generating Ideas

1. Focused Group Discussion (FGD)

In this method, a moderator handles a very

open, free-flowing, and in-depth discussion
with a group of people who can provide
insightful ideas about a new product or
service that will fill a market need.
 Methods of Generating Ideas

2. Brainstorming
Similar to an FGD, brainstorming is an activity that allows the
participants to share creative ideas using the following rules:
a) No destructive criticism or judgment is allowed.
b) Wilder ideas are accepted.
c) More ideas are preferred, and
d) Improvement of others’ ideas is allowed
 Methods of Generating Ideas

3. Brainwriting or Internet Brainstorming

This is exactly the same as brainstorming

except that the channel used is not face-to-
face, but in writing or online.
 Methods of Generating Ideas

4. Problem Inventory Analysis

This method is similar to the FGD except

that the participants are already given an
inventory of product or service problems.
 S2: Screening the Opportunity

Is the process of cautiously selecting the

best opportunity. The selection will depend
on the entrepreneur’s internal intent and
external intent.
 S3: Seizing the Opportunity

Is the last step in opportunity spotting and

assessment. This is the “pushing through”
with the chosen opportunity.