Gabriel S.

Ubana, Brix Salvador ECE 191/181

Theo Obaob TECH 101 12/7/2020

1. Why do you think a businesses fail?

There are so many reasons why a business fails there are so many factors that a
business may fail. I think businesses fail because some owners ignore the needs
of the customers, the owner has a leadership failure, lack of planning, not being
able to recover from their past failures, their lack of capital, poor choice of
location and their lack of profit that may cause a major bankruptcy.

2. List down all aspects that you see why business fail and explain each.
Here are some reasons why businesses fail:
 Lack of planning – The plan should include where your business will be in
the next few days, months, and years. Failure to plan will damage the
business.
 Leadership Failure – Businesses fail because of poor leadership. The
most successful entrepreneurs learn, study, and reach out to mentors to
improve their leadership skills.
 No differentiation – It is not enough to have a great product. It is important
that you understand what your competitors do better than you. If fail to
differentiate, you will fail to build a brand.
 Ignoring customer needs – Every business will tell you that the customer
is #1, but only a small percentage acts that way. Businesses that fail lose
touch with their customers.
 Inability to learn from failure – Realistically, businesses that fail, fail for
multiple reasons. Often entrepreneurs are oblivious about their mistakes.
Learning from failures is difficult.
 Poor management – Inability to listen, Micro-managing- AKA lack of trust,
working without standard or systems, poor communication and lack of
feedback/
 Premature scaling - Scaling is a good thing if it is done at the right time.
To put it simply, if you scale your business prematurely, you will destroy it.
For example, you could be hiring too many people too quickly, or spend
too much on marketing. Don’t scale your business unless you are ready.
 Lack of capital - It can lead to the inability to attract investors. Lack of
capital is an alarming sign. It shows that a business might not be able to
pay its bills, loan, and other financial commitments. Lack of capital makes
it difficult to grow the business and it may jeopardize day-to-day
operations.
 Poor location - Poor location is a disadvantage that might be too much to
overcome. If your business relies on foot traffic, location is a strategic
necessity. A poor location might make your customer acquisition costs too
high.
Gabriel S. Ubana, Brix Salvador ECE 191/181
Theo Obaob TECH 101 12/7/2020

 Lack of profit - Revenue is not the same as profit. As an entrepreneur, you

must keep your eyes on profitability at all times. Profit allows for growth.
According to Small Business Trends, only 40% of small businesses are
profitable, 30% break even, and 30% are losing money.

3. Think of a business that is relevant to your BS Degree:

’’CCTV CAMERAS THAT HAVE SOUND ALARM/FACE DETECTION AND GIVES MOBILE
NOTIFICATION WHEN THERE IS A POSSIBLE THREAT NEAR THE AREA.”

Security will always be a global concern. By creating your own version of the
popular CCTV camera you can sell and install the device generate revenue.
However, you will need to come up with the hook that sets your products apart
from the others on the market, but this cctv camera is not your usual cctv camera, for
it can detect faces that is unusual/strange in the area and may sound an alarm
whenever there is a possible threat and after that you can receive a mobile notification
on your phone on what possible threat that you must expect.

Why CCTV Cameras?

 Crime deterrent - The sight of a CCTV camera infers an air of danger and
the presence of the law, deterring anyone planning to carry out a crime
from doing so.
 Monitors activities - CCTV systems are able to keep track of what is
happening at the premises where they are installed. By monitoring the
activity of workers and visitors at your business’ site, you and your
workforce can have total peace of mind about exactly what is going on
under your roof.
Gabriel S. Ubana, Brix Salvador ECE 191/181
Theo Obaob TECH 101 12/7/2020

 Collects evidence - In the unfortunate event of a crime occurring at your

premises, having a CCTV system really does pay dividends as it provides
a way of collecting evidence to help ‘suss out’ exactly what happened.
Crimes can be solved far more easily with additional evidence from a
CCTV camera, helping place times, locations and, most importantly,
suspects.
 Decision Making - When it comes to settling disputes, footage from
security cameras can be incredibly important. This applies to both
domestic and commercial scenarios. Whether it’s dealing with family
disagreements, employee feuds or altercations between staff and
customers, by referring to CCTV footage, you’ll know the truth.
 Keep records - It is always a good idea to keep records of when your staff
are coming into and checking out of your site, as well as when deliveries
are made or visitors enter the building, so you can ensure everything’s
running smoothly.

4. Identify and Evaluate the Opportunity

 Opportunity Assessment
CCTV business is good for public places, commercials, and residentials places as it
can help prevent crimes and minimize criminal cases.

 Creation and Length of Opportunity

A CCTV is an ideal for long term business. For example, if you get a client and you
were tasked to install the CCTV in their location, eventually, you will get hired as
expected because you already know how to maintain the CCTV cameras that you
installed.

 Real and Perceived Value of Opportunity

As long as customers needs to protect their valuables and properties. Restrict
threats from offenders.

 Risk and Returns of Opportunity

A single workplace accident can leave a big impact on a business. Worst accidents
are high chances to happen especially in our country knowing that some of the
workers here didn’t always follow safety protocols. With that, seminars and trainings
must be provided to educate workers about the importance of safety measures .
Gabriel S. Ubana, Brix Salvador ECE 191/181
Theo Obaob TECH 101 12/7/2020

 Opportunity Versus Personal Skills and Goals

Personal goals refers to a desire of installing CCTV cameras in all houses, as well
as establishments. Hence, the opportunity of it giving it in the affordable price is
quite challenging.

 Competitive Environment
CCTV is considered as a very competitive business in the industry since there are
so many cctv markets that are already exists. Moreover, there are some people who
can’t afford to pay professional installers which leads them to just search through
internet and do installed their CCTV cameras with their own.