10 - LAS - WEEk3-Generating Ideas For Business

Republic of the Philippines
Department of Education
Region IX, Zamboanga Peninsula
SCHOOLS DIVISION OF ZAMBOANGA DEL NORTE
Sirawai I District
______________________________________________________________
SIRAWAI I DISTRICT UNIFIED LEARNER’S ACTIVITY SHEET

ENVIRONMENT AND MARKET (EM)(Week 2)
ENVIRONMENT AND MARKET (EM)
Generating Ideas for Business
ICT-10 Quarter 2
Name of Learner: _____________________________ Grade Level& Section: _____________________
Learning Competency with Code

Do not drop tools to avoid damage; carry out routine maintenance of tools according to standard operational
procedures, principles, and techniques
TLE_IACSS9- 12UHT-IIId-20
Background Information for Learners
The process of developing and generating a business idea is not a simple process. Some people come up with
a bunch of business ideas that are not really feasible. There are two problems that arise; first is the
excessive generation of ideas that can forever remain as a dreaming stage and the second is when they don’t
have ideas and don’t want to become entrepreneurs.
The most optimal way is to have a systematic approach in generating and selecting a business idea
that can be transformed into a real business. Here are some basic yet very important considerations that can
be used to generate possible ideas for business:
1. Examine existing goods and services.
Are you satisfied with the product? What do other people who use the product say about it? How can it
be improved? There are many ways of improving a product from the way it is made to the way it is packed and
sold. You can also improve the materials used in crafting the product. In addition, you can introduce new ways
of using the product, making it more useful and adaptable to the customers’ many needs. When you are
improving the product or enhancing it, you are doing an innovation. You can also do an invention by
introducing an entirely new product to replace the old one.
Business ideas may also be generated by examining what goods and services are sold outside the
community. Very often, these products are sold in a form that can still be enhanced or improved.
2. Examine the present and future needs.
Look and listen to what the customers, institutions, and communities are missing in terms of goods and
services. Sometimes, these needs are already obvious and identified
right away. Other needs are not that obvious because they can only be identified later on, in the event of
certain development in the community. For example, a province will have its electrification facility in the next
six months. Only by that time will the entrepreneur could think of electrically-powered or generated business
such as photo copying, computer service, digital printing, etc.
3. Examine how the needs are being satisfied.
Needs for the products and services are referred to as market demand. To satisfy these needs is to
supply the products and services that meet the demands of the market. The term market refers to whoever will
use or buy the products or services, and these may be people or institutions such as other businesses,
establishments, organizations, or government agencies.
There is a very good business opportunity when there is absolutely no supply to a pressing market
demand.
Businesses or industries in the locality also have needs for goods and services. Their needs for raw
materials, maintenance, and other services such as selling and distribution are good sources of ideas for
business.
4. Examine the available resources.
Observe what materials or skills are available in abundance in your area. A business can be started out
of available raw materials by selling them in raw form and by processing and manufacturing them into finished
products. For example, in a copraproducing town, there will be many coconut husks and shells available as
“waste” products. These can be collected and made into coco rags or doormats and charcoal bricks and sold
profitably outside the community.
A group of people in your neighborhood may have some special skills that can be harnessed for
business. For example, women in the Mountain Province possess loom weaving skills that have been passed
on from one generation to another. Some communities set up weaving businesses to produce blankets,
decorative, and various souvenir items for sale to tourists and lowlanders.
Business ideas can come from your own skills. The work and experience you may have in agricultural
arts, industrial arts, home economics, or ICT classes will provide you with business opportunities to acquire the
needed skills which will earn you extra income should you decide to engage in income-generating activities.
With your skills, you may also tinker around with various things in your spare time. Many products are invented
this way.
5. Read magazines, news articles, and other publications on new products and techniques or advances in
technology. You can pick up new business ideas from magazines such as Newsweek, Reader’s Digest,
Business Magazines, “Go Negosyo”, Know About Business (KAB) materials, and Small-Industry Journal. The
Internet also serves as a library where you may browse and surf on possible businesses. It will also guide you
on how to put the right product in the right place, at the right price, and at the right time.
Key Concepts of Selecting a Business Idea

Once you have identified business opportunities, you will eventually see that there are many
possibilities available for you. It is very unlikely that you will have enough resources to pursue all of them at
once.
You have to select the most promising one among hundreds of ideas. It will be good to do this in
stages. In the first stage, you screen your ideas to narrow them down to about few choices. In the next stage,
trim down the choices to two options. In the final stage, choose between the two and decide which business
idea is worth pursuing. In screening your ideas, examine each one in terms of the following guide questions:
1. How much capital is needed to put up the business?
2. Where should the business be located?
3. How big is the demand for the product? Do many people need this product and will continue to need it for a
long time?
4. How is the demand met? Who are processing the products to meet the needs (competition or demand)?
How much of the need is now being met (supply)?
5. Do you have the background and experiences needed to run this particular business?
6. Will the business be legal and not against any existing or foreseeable government regulation?
7. Is the business in line with your interest and expertise?
Your answers to these questions will be helpful in screening which ones among your many ideas are
worth examining further and worth pursuing.
Branding
Branding is a marketing practice of creating a name, a symbol or design that identifies and
differentiates product or services from the rest. It is also a promise to your customers. It tells them what they
can expect from your product or service and it differentiates your offerings from other competitors. Your brand
is derived from who you are, who you want to be and what people perceive you to be. Branding is one of the
most important aspects in any business. An effective brand strategy gives you a major edge in increasingly
competitive markets.
A good product can:
- deliver message clearly,
- confirm credibility,
- connect to target prospect,
- motivate buyers, and
- concretize user loyalty.
Here are simple tips to publicize your brand:
 Develop a tagline. Write a statement that is meaningful, impressive, and easy to remember to capture
the essence of your brand.
 Design a logo. Create a logo symbolic of your business and consistent with your tagline and displace
it strategically.
 Write a brand message. Select a key message to communicate about your brand.
 Sustain a brand quality. Deliver a promise of quality through your brand.
 Practice consistency. Be reliable and consistent to what your brand means in your business
Activity 1. Enumeration
Directions: Answer the given question below. Write the word on the blank provided.
1. What are the simple steps to publicize your brand/product?

1.
2.
3.
4.
5.
2. what are the characteristics of a good product?
1.
2.
3.
4.
5.
Prepared by
JENELYN C. RUSIANA
Teacher
`
Note: Practice Personal Hygiene Protocols at all times.

10 - LAS - WEEk3-Generating Ideas For Business

Uploaded by

Copyright:

Available Formats

10 - LAS - WEEk3-Generating Ideas For Business

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

10 - LAS - WEEk3-Generating Ideas For Business

Uploaded by

Copyright:

Available Formats

Republic of the Philippines

SIRAWAI I DISTRICT UNIFIED LEARNER’S ACTIVITY SHEET

Name of Learner: _________ Grade Level& Section: _

Learning Competency with Code

Background Information for Learners

Key Concepts of Selecting a Business Idea

1. What are the simple steps to publicize your brand/product?

You might also like