Tle Reviewer 3RD Quarter

TLE 10
ESPIRITU, TRICIA
10-SMM
3RD QUARTER
Entrepreneurial Gut Game - This
refers to the ability of the
A business plan is an executive entrepreneur of being intuitive.
document that acts as a This is also known as intuition.
blueprint or roadmap for a The gut game also means
business. confidence in one’s self and
firm belief that everything you
Creating a business plan is an aspire can be reached.
indispensable part of any
business. The main purpose of Sources of Opportunities
creating such a document is to
attract prospective investors to 1.Changes in the environment
provide capital to the
enterprise. Entrepreneurial ideas arise when
changes happen in the external
Recognize a potential market environment. A person with an
entrepreneurial drive view these
changes positively.
Potential market is the part of
the total population that has External Environment
shown some level of interest in
buying a particular product or External environment refers to
service. This includes the physical environment, social
individuals, firms and environment, and industry
organizations. environment where the business
operates.
The numbers in each of these Physical Environment

segments of how many people are
interested is found out through Climate – the weather
a market forecast and all the conditions.
numbers are added up to get the Natural resources – such as
size of the potential market. mineral, forests, water, and
fertile land that occur in
Essentials in Entrepreneur’s nature and can be used for
Opportunity Seeking economic gain.
Wildlife – includes all mammals,

Entrepreneurial mind frame - birds, reptiles, fish, etc.,
this allows the entrepreneur to that live in the wild.
see things in a very positive
and optimistic way in the midst Societal Environment
of difficult situation. Being a
Political forces – include all
risk taker, an entrepreneur can
the laws, rules, and regulations
find solution when problem
that govern business practices
arise.
as well as the permits,
approvals, and licenses
Entrepreneurial Heart Flame -
necessary to operate the
Entrepreneurs are driven by
business.
passion; they are attracted to
discover satisfaction in the act Economic forces – such as income
and process of discovery. level and employment rate.
Passion is the great desire of
an entrepreneur to achieve Sociocultural forces – customs,
his/her goals. lifestyles and values that
characterize a society.
Technological environment – new 4. People’s interest
inventions and technology
The interest, hobbies, and
innovations.
preferences of people are rich
Industry Environment sources of entrepreneurial
ideas, like the increasing
● Customers number of internet café at
● Creditors present could lead to the strong
● Employees attachment of the young people
● Government to computers.
● Suppliers
5. Past experiences
Physical Environment The expertise and skills
For example, one factor in the developed by a person who has
physical environment that can worked in a particular field may
easily change is the climate. lead to the opening of a related
The temperature is very high business enterprise.
during summer but very low For example, a Jollibee part
during the rainy season. An timer who is an accountant
individual with entrepreneurial graduate have the potential in
drive can be extremely starting a fast food business.
imaginative and inventive in
identifying opportunities. He/
she can venture on a business
that responds to the needs of
the people during summer and
rainy season.
2. Technological discovery and

advancement
A person with entrepreneurial
interest sees possibility of
business opportunities in any
new discovery or because of the
use of latest technology.
For example, an individual with
knowledge in repair and
installation of a machine engine
discovers additional engine
parts that considerably reduce
fuel consumption.
3. Government’s thrust,
programs, and policies
The priorities, projects,
programs, and policies of the
government are also good sources
of ideas.
For example, the implementation
of No facemask, No entry policy.
People without entrepreneurial
interest will view the ordinance
as a plain restriction. However,
for an entrepreneur, it is a
business opportunity to mass
produce a facemask, which is in
demand, and sell it.

Tle Reviewer 3RD Quarter

Uploaded by

Copyright:

Available Formats

Tle Reviewer 3RD Quarter

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

Tle Reviewer 3RD Quarter

Uploaded by

Copyright:

Available Formats

TLE 10

The numbers in each of these Physical Environment

Wildlife – includes all mammals,

2. Technological discovery and

You might also like