URDANETA CITY UNIVERSITY

COLLEGE OF ARTS AND SCIENCES

NSTP DEPARTMENT

FIRST SEMESTER, S.Y. 2020-2021

NSTP 1
Learning Activity: Module 7

NAME: LAGUIT, ESTELA A. CODE:___N006__________

COURSE/YR:_BSN 2___________________________ DATE:__JANUARY 08, 2021

A. Concept Anchored

I. Identify what is being asked, defined, and/or explained.

1. The capacity for innovation, investment, and expansion in new markets, products, and
techniques as defined by Prof. Nathaniel Left.
 Entrepreneurship
2. One who brings resources, labor, materials, and other assets into combinations that make their
value more significant than before and introduces changes, innovations, and a new order.
 An entrepreneur
3. A priority program to promote entrepreneurship that creates jobs.
 The One Town One Product (OTOP)
4. The Philippines’ blueprint of growth envisions a nation where only a small proportion of the
population is considered low.
 The Medium-Term Philippine Development Plan (MTPDP)
5. The process of pursuing a new venture, whether it be new products into existing markets,
existing products into new markets, and/or creating a new organization.
 Entrepreneurial
6. It happens when someone develops a business model and sells the rights to operate it to another
entrepreneur.
 Franchising
7. In franchising, he is the company selling the right.
 Franchisor
8. In a franchise business, he usually gets the business model's rights for a specific period and a
specific geographic area.
 Franchisee
9. It combines the passion of a social mission with an image of business-like discipline, innovation,
and determination.
 Social Entrepreneurship
10. He is someone who aims for value in the form of large-scale, a transformational benefit that
accrues either to a significant segment of society or to society at large.
 Martin & Osberg
II. Answer the following questions clearly and briefly.
1. Enumerate five (5) qualities needed to succeed in an entrepreneurial environment and explain each.
1. Perseverance
 Whatever business you might be setting up, there are times where you will face
problems. It is moment like this that you will need to hold on and persevere. You will
have to believe in yourself and your products and services in order to succeed.
2. Interpersonal Skills
 Business is all about dealing with people and you will need to be good at communicating
if you want to succeed. Whether it is with your customers, suppliers or employees it is
important that you learn how to communicate in an effective way to make sure that your
business is run as smoothly as possible.
3. Willingness to take Calculated Risks
 A good entrepreneur should be ready to take calculated risk if he or she wants to
succeed. Sometimes in business you will need to trust your gut feelings and walk on
water. However, you will need to distinguish between foolishness and calculated risk.
Make sure that you do your homework and ensure that your business plan is feasible
before getting started.
4. Motivation
 It is important that an entrepreneur remain motivated at all time. This is indeed more
important when you are pioneering a business or activity as you will have no one else
with you. You should not let yourself down and make sure that you keep going forward.
5. Time Management
 This is another important quality that you will need to have as a good entrepreneur. Time
management will allow you to organize yourself and make sure that you get all your work
done effectively.

2. Cite and explain at least two (2) government undertakings and initiatives to promote economic
development.
1.) The National Youth Commission offers the Youth Entrepreneurship Financing Facility Program
(YEFFP) that aims to:
a. Enhance the entrepreneurial skills of the Filipino Youth;
b. Support the business ventures of young people with technical and entrepreneurial skills,
who otherwise are ineligible under regular credit facilities, by providing them more
accessible access to credit;
c. Encourage the self-employment of the Filipino youth; and
d. Establish a credit program for entrepreneurs.

2). The Medium-Term Philippine Development Plan or MTPDP

-is the Philippines’ blueprint of growth.
This program envisions a nation where only a small proportion of the population is considered poor. The
MTPDP calls for developing an entrepreneurial culture by improving access to information on business
opportunities, available raw materials, skills and entrepreneurship training, prospective fund sources,
and access to the latest technologies. It also envisions a school curriculum that incorporates
entrepreneurship education. Similarly, it stresses the need to enhance poor Filipinos' employment and
livelihood opportunities through entrepreneurship and microfinance.
B. Value Anchored
Interview with some entrepreneurs in your barangay, town, or city. Determine the
importance/advantages in establishing a small business to the:
a. Business owner- As said by the owner of a restaurant; in starting a business you must think of
all of these:
Nature of the business
The first you need to think about is what will you offer. What are you going to sell in your
business? In general, you can choose to provide the following: service, merchandising or
manufacturing.

Service – it can either be selling time and expertise, such as professionals, event organizers, IT,
marketing, etc.; or it can also be restaurants, food kiosks, transportation, salon, spa, etc.
Merchandising – also referred to as retail, wholesale, trading or distribution. Buy-and-sell of
goods. Examples are grocery and department stores, retail outlets, online resellers, etc.
Manufacturing – combining raw materials, labor and use of equipment, then turn it into a
saleable product. Example are manufacturers of cars, gadgets, clothing, bags, daily essentials,
etc.

Location
In many business events I’ve attended, I always hear this advice “location is everything”.
“Location, location, location”.
Make sure you identify or look for the best location for your business. Your business must be
seen by your target customer or at least near them.

Formation
Once you’ve identified what to sell, who to sell it to and where to sell it, now think about how
you’ll form the business. You can choose on sole proprietorship, partnership or corporation.

Single proprietorship – you’re the sole owner of the business.

Partnership – you can divide the business with another person(s) which you will call partners.
You need at least two people to form partnership.
Corporation – you can divide the business with another person(s) which you will call
stockholders. You need at least five people to form corporation.

Capital
Capital is the amount or value you need to put in the business to get it started and operating. It
can be cash or non-cash. To know how much capital you need, list down all the possible spending
you need to make to start and operate, such as assets to purchase, renovation, lease payments,
operating expenses etc.

Asset Requirements
When starting a business, plan the assets that you’ll need to operate. This may include the
following example: computers, equipment, furniture, vehicle, etc. List down not only the item
but also the quantity and price.

Lease, Renovation and Improvements

Next item to consider is if you will rent out a space. When renting, normally lessors require
advance rent and security deposits which is equal to three (3) to six (months) of monthly rent.
and improvements. Consider these costs in your business plan.

Suppliers
Identity potential suppliers needed to produce the service or goods you will sell. Consider their
price, location, reliability and operating hours.

Operating Expenses
Identify and list down all the expenses or spendings you need to operate the business such as
salary, rent, office supplies, utilities, etc. Consider the monthly costs in your business plan. This
step is also important in your capital requirement because normally you have to keep at least six
(6) months to one (1) year of monthly spendings as capital.

Hire People or Outsource

In my experience, people management is one of the toughest job of business owners. This may
be the reason why outsourcing is in demand. If you plan to start a business, include in your
consideration if you will hire people or just outsource it. If you decide to hire, consider the salary
and other government regulations you need to comply with such as DOLE, SSS, PHILHEALTH and
Pag-ibig. If you consider to outsource, consider the expertise and reliability of the company you
will outsource to.

Registration
After considering all the capital and expense requirement, before you start operating, make sure
you have the registrations needed to legalize your business. At a minimum, you must have DTI or
SEC, Barangay, Mayor and BIR. If you employees register to SSS, PHIC and HDMF.

Bank account for the business

Consider opening a bank account separate for your business. This is to simplify your record
keeping and avoid mixing your personal to your business especially if you are a single proprietor.
When choosing a bank, it must be accessible and available.

Marketing
Rarely a business sell without a good marketing plan. Marketing is one of the key factor why
businesses succeeds, and why it fails. Choose the right marketing platform for your business.

Government Compliance
Another important item to consider, but often neglected, is the government reporting you need
to comply with every month, quarterly and annually. I’ve seen many business succeeds but later
on faced with government penalties due to neglect on this important item. Government
Compliances include at minimum filing and payment of taxes, SSS/Philhealth/Pag-ibig
contributions. As well as yearly payment of Barangay and Mayor’s permit.

Accounting and Financial Analysis

Last but not the least, when you start a business, ensure you have a reliable accounting and
financial reporting process in place. Accounting is the language of business. To know what’s really
happening in your business, you must have a reliable accounting and financial reporting system.
b. Community- Target Customer
Having a service or product to sell is not gonna make you profitable if you do not have customers who
will buy it. If you plan to start a business and you know what to sell, before you begin, study if there is a
market for it. Identify who your customers are. Remember the saying, a product or service for everybody
is a product or service for nobody. Lease, Renovation and Improvements Next item to consider is if you
will rent out a space. When renting, normally lessors require advance rent and security deposits which is
equal to three (3) to six (months) of monthly rent. Also, rental space are usually bare and requires
renovation and improvements. Consider these costs in your business plan.

C. Psychomotor- Precision/ progress of your business

- how will your business accelerate and how will be the precision/progress of your business in your future
goal.

Conceptualize a plan to start a small business in your barangay and create a business plan for it.