Mary Jomalene Acabado Sombrero

2100 Entrepreneurial Mindset

MODULE 2
ESTABLISHING THE FIRST KEY STEPS OF YOUR ENTREPRENEURIAL PROJECT

TOPIC 2.1 IDEATION PROCESS AND DESIGN THINKING METHODOLOGY

True or False.
TRUE 1. The starting point in any ideation process is problem identification.
TRUE 2. Design thinking is to think and act like a designer.
TRUE 3. Market research is the process of collecting, analyzing and interpreting data to come up with
recommendations about problems or opportunities involving your target market, competitors, and the
industry where your business operates.
TRUE 4. Strengths are attributes where one is good at.
TRUE 5. Market research should be conducted to identify the need of the target consumers.
FALSE 6. End zone is the gap from where you are now and where you will be headed.
TRUE 7. Valuing is an innovative process of generating new and viable ideas for the purpose of
developing a single best solution to a particular need.
TRUE 8. The end purpose of conducting research is to come up with recommendations to solve an
identified problem.
TRUE 9. One way to identify your competitors is to conduct marketing research.
TRUE 10. Design thinking is about understanding strategies to make the products profitable.

LEARNING ACTIVITY 2.1

1. Conceptualize a product or service idea, based on the following:
a. Idea that corresponds to your purpose in life
I think the nearest service idea that corresponds to my purpose in life is building
my own Pet Care and Hotel business. It would serve as a hotel for dogs whenever the
owner will be gone for a while. The reason behind this is that dogs gave happiness to
their owner and I think my purpose in life is to take care of those people or something
that makes me happy.

b. Idea that gives you enjoyment

Any small business would give me enjoyment. As long as I earn money in any
legal ways, I would be happy and thankful. I think I would be enjoying resin business. It
is so fun to do and it is super easy too. Also, small food business is an interesting idea to
do. It would only require cooking skills and some patience. This business recommendable
for students who wants to earn extra money.

c. Idea that corresponds to your strengths

The idea or business that I would go to that corresponds to my strength would be
an arcade or sport zone business and gym. I think I would love to have this business
because I love sports most especially basketball. Also, gym is a nice business idea
because people would love to have good physique and some needed gym for the gym
equipment. I think this would be an easy business because at first, a businessman will just
have to invest in materials and equipment needed but as time passed, you will only need
maintenance for those.

2. Answer the following questions;

a. Discuss the importance of knowing your purpose, enjoyment and strength in an
ideation process?
Knowing your purpose, enjoyment, and strength would be a huge advantage to
your competitors. As a human with human needs, you will of course know what your
Mary Jomalene Acabado Sombrero
2100 Entrepreneurial Mindset

purpose is so that you will know if you really are invested to your business. If you think
your purpose is not to have your own business but to work for the business of others, this
would make a lot of difference. You must first know how devoted you are in this kind of
industry. Then, here comes the enjoyment. Enjoyment is a very big factor that must be
evident in the ideation process. As the old saying says, “do what you love, and you will
love what you do”. Enjoying your business is another term of saying you love what you
are doing. Lastly is your strength. Your strength will guide your business to reach its
maximum potential. It is a biggest asset that you can flex unto other people. If you know
your strength is, you will also know where you lack at or what is your weaknesses. But in
this case, you will only just be focusing on your strengths and averting your attention on
what you can do more and what changes you can do to lessen your weaknesses.

b. Design thinking is “living like the customer” concept. Why is this so?
Design thinking is interconnected with “living like customer”. Design thinking
enable a person to think outside of the box. It is a way of understanding your strategies.
These strategies are your key to success. With this, you think what your customers would
think. People that are in the field of business must think of how customers will react to a
certain product. You will need to be in their shoes. You must feel like you are in them not
with them. Every perspective would be essential for the business’ success.

c. Applying your knowledge in the ideation process discusses the crucial influences to
Food panda’s success.
Foodpanda, according to the website, has become an instant success worldwide
because of their user-friendly, high quality, and effective interface. Over the years, they
have worked on improving many features to increase their online traffic. This is
important for those people living outside the central market. It would be less hassle and
budget-friendly for them. Also, foodpanda customers has two choices; they can either use
foodpanda website or its app to order their favorite cuisine. Both the website and app
function more or less the same. Another thing that influences the customer is how they
thought of putting the ordering process and step by step guide after the user make an
account. Foodpanda thought of the customer’s needs and wants. They learned about the
strategies on what people would be demanding. They made sure that what they offer
would reach almost everyone. Making the best they can make. Doing the best they can
do.