Teacher-made Learner’s Home Task

School: __SAMBOAN NATIONAL HIGH SCHOOL________ Date: JUNE 9, 2020

Grade/Section: 12- FORTITUDE_Subject Area/s: T.L.E FOOD AND BEVERAGE SERVICES

I. COMPETENCY LO3 Create new business ideas in food and Code: TLE_PECS7-12-00- 3
beverage services by using various techniques
3.1 Explore ways of generating business ideas from ones’ own characteristics/attributes
3.2 Generate business ideas using product innovation from irritants, trends, and emerging needs
3.3 Generate business ideas using Serendipity Walk

II. Objective/s: It is expected that at the end of the lesson:

Knowledge: The learner explores ways of generating business ideas related to FBS.
Skills: The learner generates ideas in doing business related to food and beverages
using serendipity walk.
Values/Attitude: The learner shows respect to entrepreneurs.

III.Subject Matter: Generating business ideas

IV. References:
The importance and role of an entrepreneur. Retrieved from
.https://www.economicshelp.org/blog/143207/economics/the-importance-and-role-of-an-
entrepreneur/. June 8, 2020
https://moneyexcel.com/18174/food-business-ideas-low-investment/. June 8, 2020
https://www.entrepreneur.com/article/74184
https://www.entrepreneur.com/article/331045
V. Procedure:
A. Readings
B. Exercises for skill subjects / Analysis questions using HOTS for content
Subjects
1.Are the entrepreneurs important to the community? Why and Why not?
2. What would happen to a community without entrepreneurs?
3. Do you think investing in food and beverage services is a good idea? Support your
answer.

Exercise 1
Directions:
Read the information sheet.

Assessment/Application
Directions:
1. Answer the questions found at the end of the information sheet.

Prepared by: LORNA L. NELLAS Verified by: BERNARDITA F. ARIAS

Teacher School Head

Address: IPHO Bldg., Sudlon, Lahug, Cebu City

Telephone Nos.: (032) 520-3216 – 520-3217; SDS Office: (032) 255-6405;
ASDS Apao: (032) 236-4628
INFO SHEET
FBS
Competency: TLE_PECS7-12-00- 3
LO3 Create new business ideas in food and beverage services by using various techniques
3.1 Explore ways of generating business ideas from ones’ own characteristics/attributes
3.2 Generate business ideas using product innovation from irritants, trends, and emerging needs
3.3 Generate business ideas using Serendipity Walk

Content : Generating business ideas

The importance and role of an entrepreneur

6 November 2019 by Tejvan Pettinger

An entrepreneur is an individual who sets up and grows a business. They combine different factors
of production (such as – land, labour and capital) to try and create a new profitable business venture.
Entrepreneurs are themselves an important ‘factor of production’ and an essential aspect of a
functioning free market economy.

Free market evolution. Entrepreneurs are important in a free market because they help the market
respond to changing prices and consumer preferences. For example, with the rise in the use of the
internet, an entrepreneur may see the potential to set up a new home delivery service which uses
an app for consumers to buy. Without entrepreneurs, product markets would become static and be
slow to changes in new technology and trends
Efficiency improvements. A successful entrepreneur may take revenue from an established
business. This can cause ‘creative destruction’ A phrase used to describe changes in the economy
– which in the short-term could lead to firms going out of business and/or job losses. However, this
potential for creative destruction also creates an incentive for an established business to adapt and
increase their own efficiency. For example, in response to Uber taxi services, it created an incentive
for established taxi-firms to develop their own apps.
Dynamic efficiency. Entrepreneurs can make radical changes and introduce new technologies
which significantly move on an industry. For example, Henry Ford’s novel use of assembly lines
enabled a drastic cut in the average cost of producing a motor car. His efficiency savings forced
other carmakers to follow suit.
New markets. Entrepreneurs can often ‘redefine the rules’ of an established industry. For example,
in the 1990s, if you wanted to rent a room, you would scour newspaper ads and have to make a
decision based on 40 words of text.

However, the new service “Spareroom.co.uk” means you can easily scan through different
possibilities and have an opportunity to get to know your potential flatmate before you move in. This
has created a new market and new service that increases the efficiency of finding a compatible
person to live with.
• A similar new product is ‘Room for help.’ Where people can rent a room in return for providing
a service such as cleaning/babysitting It was created by Ms Rolando after she came across
an advert whilst looking for a room to rent. It is an example of how entrepreneurs often set
up a business in response to their individual need.
New Gig economy. The new technological economy offers increased opportunities for
entrepreneurs. Low start-up costs give entrepreneurs the potential to find new niche markets to
develop. Many of the current large technological firms are relatively young and started as small start-
ups – often in someone’s room or garage.
New values. An entrepreneur is not just about price and profit. An entrepreneur may be motivated
to enter an industry to offer a more ethical product or provide a service to a community. For example,
Anita Roddick set up Body Shop at a time when many cosmetics were tested on animals. Her new
set up eschewed animal testing. It proved a successful business strategy and it soon became the
industry standard. In other situations, entrepreneurs may take a risk and provide a community
service such as a volunteer led railway – offering steam trains for tourists and locals.
The entrepreneur can sell his new business for more than the costs of inputs or continued to grow
and develop the business.

Functions of an Entrepreneur:

The important functions performed by an entrepreneur are listed below:

1. Innovation:
An entrepreneur is basically an innovator who tries to develop new technology, products, markets,

etc. Innovation may involve doing new things or doing existing things differently. An entrepreneur

uses his creative faculties to do new things and exploit opportunities in the market. He does not

believe in status quo and is always in search of change.

2. Assumption of Risk:

An entrepreneur, by definition, is risk taker and not risk shirker. He is always prepared for assuming

losses that may arise on account of new ideas and projects undertaken by him. This willingness to
take risks allows an entrepreneur to take initiatives in doing new things and marching ahead in his

efforts.

3. Research:

An entrepreneur is a practical dreamer and does a lot of ground-work before taking a leap in his

ventures. In other words, an entrepreneur finalizes an idea only after considering a variety of options,

analyzing their strengths and weaknesses by applying analytical techniques, testing their

applicability, supplementing them with empirical findings, and then choosing the best alternative. It

is then that he applies his ideas in practice. The selection of an idea, thus, involves the application of

research methodology by an entrepreneur.

4. Development of Management Skills:

The work of an entrepreneur involves the use of managerial skills which he develops while planning,

organizing, staffing, directing, controlling and coordinating the activities of business. His managerial

skills get further strengthened when he engages himself in establishing equilibrium between his

organization and its environment.

However, when the size of business grows considerably, an entrepreneur can employ professional

managers for the effective management of business operations.

5. Overcoming Resistance to Change:

New innovations are generally opposed by people because it makes them change their existing

behavior patterns. An entrepreneur always first tries new ideas at his level.

It is only after the successful implementation of these ideas that an entrepreneur makes these ideas

available to others for their benefit. In this manner, an entrepreneur paves the way for the acceptance

of his ideas by others. This is a reflection of his will power, enthusiasm and energy which helps him

in overcoming the society’s resistance to change.

6. Catalyst of Economic Development:

An entrepreneur plays an important role in accelerating the pace of economic development of a

country by discovering new uses of available resources and maximizing their utilization.

Motives of entrepreneurs

• Profit. Profit is the biggest incentive. If the business is successful, the entrepreneur can pay
themselves a large dividend or sell the product
• Income. Unemployed may feel self-employment is the best opportunity to gain an income.
• Overcome a particular need. Sometimes, entrepreneurs set up a business to deal with a
missing market. For example, Louis Braille was completely blind – this led him to invent the
braille system to communicate and read.
• Non-financial motives. Mixed up with profit motive may be other objectives
• Ethical stance. An entrepreneur may wish to do a different type of business, e.g. an
organic farm which doesn’t harm the environment.
• Independence. An entrepreneur may also be motivated by non-financial factors, such as
independence to work for themselves or to choose the hours and not have to listen to
another boss.
• Social entrepreneurship. Entrepreneurs don’t always act alone. They may form
partnerships with other entrepreneurs to create a stronger business or develop a social
enterprise which aims at serving the community.

Types of Entrepreneurs:

Depending upon the level of willingness to create innovative ideas, there can be the

following types of entrepreneurs:

1. Innovative entrepreneurs:

These entrepreneurs have the ability to think newer, better and more economical ideas of

business organisation and management. They are the business leaders and contributors to

the economic development of a country.

2. Imitating entrepreneurs:

These entrepreneurs are people who follow the path shown by innovative entrepreneurs. They

imitate innovative entrepreneurs because the environment in which they operate is such that

it does not permit them to have creative and innovative ideas on their own.

Such entrepreneurs are found in countries and situations marked with weak industrial and

institutional base which creates difficulties in initiating innovative ideas.

In our country also, a large number of such entrepreneurs are found in every field of business

activity and they fulfill their need for achievement by imitating the ideas introduced by

innovative entrepreneurs.

Development of small shopping complexes is the work of imitating entrepreneurs. All the

small car manufacturers now are the imitating entrepreneurs.

3. Fabian entrepreneurs:
The dictionary meaning of the term ‘fabian’ is ‘a person seeking victory by delay rather than by

a decisive battle’. Fabian entrepreneurs are those individuals who do not show initiative in

visualising and implementing new ideas and innovations wait for some development which

would motivate them to initiate unless there is an imminent threat to their very existence.

4. Drone entrepreneurs:

The dictionary meaning of the term ‘drone’ is ‘a person who lives on the labor of others’. Drone

entrepreneurs are those individuals who are satisfied with the existing mode and speed of

business activity and show no inclination in gaining market leadership. In other words, drone

entrepreneurs are die-hard conservatives and even ready to suffer the loss of business.

5. Social Entrepreneur:

Social entrepreneurs drive social innovation and transformation in various fields including

education, health, human rights, workers’ rights, environment and enterprise development.

Ponder these……

Do you have business ideas?

What business do you have in mind?

Let’s talk on how to generate ideas.

10 Great Ways to Generate Business Ideas

https://www.entrepreneur.com/article/74184

Great business ideas are all around you. Just open yourself to the possibilities,
and you're bound to find a winner. To start your search for that drop-dead idea
that's going to set the world on fire, start with the following sources.

Culled from marketing guru Al Ries, chairman of Roswell, Georgia-based

marketing strategy firm Ries & Ries and co-author with Laura Ries of 22
Immutable Laws of Branding, and business trendwatcher Perry Lowe,
professor of marketing at Bentley College in Waltham, Massachusetts, these
can be the first steps in your search for the business of your dreams.

1. Start with family.

Tapping family for great business ideas may not seem like an obvious first step. Sure, you'll hit them
up for cash once you've developed your idea, but what can your aging father or cousin Margaret
contribute this early in the process? Plenty. Donald Trump certainly wasn't bashful about learning the
real estate business from his dad, Fred, who ran a thriving real estate development company, says Ries.
Trump had the good sense to get some priceless training before going off to become one of the
country's foremost builders and real estate developers. "If his father hadn't provided the foundation
and training [he needed] to create a profitable business, Trump wouldn't be where he is today," Ries
explains. "Unfortunately, many people insist on [creating a business] themselves without any help
from their family. That's foolish."

2. Get a little help from your friends.

Ries says you are severely limiting yourself if you rely solely on your own
ideas -- especially when your creative juices run dry. "This is reason enough
to listen to ideas others may have," he says. "If you have 15 or 20 friends,
chances are a couple of them have some incredible business ideas."

3. Look at all the things that bug you.

It may not sound profound, but Ries says this is fertile ground for great
business ideas. He cites how upset Kemmons Wilson was in the 1950s when
a motel owner wanted to charge him an additional price for each of his five
children. He was so ticked off, he launched Memphis, Tennessee-based
Holiday Inn, today one of the world's largest hotel chains.

If King C. Gillette hadn't been fed up with the tedious process of sharpening
his straight-edge razor, he wouldn't have founded the massive disposable
razor industry. When he took his idea for a portable razor with a blade that
could be used several times to a research university for assistance, engineers
questioned his sanity. Gillette followed his instincts and the rest is history.

4. Tap your interests.

Thousands of clever people have taken up hobbies and turned them into a
successful business. Tim and Nina Zagat, who launched the Zagat Surveys, a
publishing empire that sells restaurant guides for many major U.S. and
European cities, are great examples. In the early 1970s, the Zagats were high-
priced corporate attorneys whose passion was dining out. For fun, they
created a newsletter in which they asked their friends to rank popular
restaurants in several categories. Each year, the newsletter encompassed more
restaurants. Eventually it became such an expensive and time-consuming
undertaking that the couple began charging money for it to allay their
expenses. That was the meager beginning of the famed Zagat Survey, which
is sold in bookstores worldwide. "When you're doing something you love, it's
never considered work," says Ries.

5. Travel.
Traveling opens your eyes to a plethora of potential business ideas. Ries
cites Leopoldo Fernandez Pujals' discovery of Domino's Pizza on a trip to
the United States from his native Spain. Pujals was so impressed with the
fast-food operation, he went back to Spain and launched his own version,
called TelePizza, in 1986. His company now registers $260 million in sales,
and employs 13,000 people in eight countries.

6. Keep your eyes open.

"When you see something that piques your interest, ask yourself, What is it
about this situation that's special?" says Ries. "Then narrow your focus so
you home in on the idea." The process of zeroing in on the idea often
spawns important niche markets. "Blockbuster Video's niche is renting
videos, and Bulbs Unlimited's niche is selling light bulbs," says Ries. Get it?

7. Examine old mousetraps -- then build a better one.

"If a product doesn't meet your own high standards, create a better one,"
advises business trendwatcher Perry Lowe. "That's what put Ben & Jerry's on
the map." Ice cream fanatics Ben Cohen and Jerry Greenfield felt popular ice
creams weren't rich and tasty enough for their cultivated palates, so they
created their own super-premium line of ice cream, which is a bestseller
nationwide. Just think: If these ice cream gurus weren't such picky eaters,
there would be no Cherry Garcia, Chubby Hubby or Phish Food to enjoy.

8. Take it to the streets.

There's no better place to lock into up-and-coming trends than city streets,
Lowe contends. Street culture spawned punk, hip-hop, grunge and a number
of other fads that rapidly evolved into multimillion-dollar businesses. "Great
ideas can often be found by just browsing happening inner-city
neighborhoods in virtually any big city in the United States," says Lowe.

9. Sleep on it.
Many people ignore their dreams, and some don't remember them at all. But
sometimes it pays to listen to those inner messages, no matter how strange or
unintelligible they are. "You never know, you might just find the germ of a
great idea," says Lowe. The tough part is crawling out of bed in the dead of
night to jot down those great ideas before they're forgotten.

10. Go online.
Finally, Lowe endorses web surfing as a fun way to log on to potential
business ideas. "Make it a point to check out various sites daily. It may
trigger an idea or concept you never thought of."
3 Ways to Discover a Business Idea That
Works
https://www.entrepreneur.com/article/331045

Rashan Dixon-Entrepreneur Leadership Network Writer

Co-founder of Techincon & Senior Business Consultant for Microsoft

There are plenty of good business ideas floating around, and not all of them
are unique. In fact, new companies successfully go to market in saturated
industries all the time, and most aren’t especially disruptive.

Some just take advantage of a humongous market. Entrepreneurs in the food

and beverage space, for instance, know that people will always be hungry
and thirsty. Most consumers have countless options to choose from when
they want to meet these basic needs, but if a new product stands out --
whether because of superior taste, branding or nutrition -- they’ll often reach
for it.

1. Listen in on social media chatter.

Social media is a great place to discover consumer pain points and needs. ou
may not be ready to pursue a business idea tomorrow, but you’d be wise to
insert yourself into social media communities related to areas you’re
passionate about today.

2. Dwell on your own problems.

Restaurants and grocery stores relieve hunger pangs, and entertainment
companies banish boredom. People’s lives are full of needs and problems, so
entrepreneurs looking for a business idea should spend some time
contemplating everything that’s wrong with their lives -- seriously.

3. Do future you a favor.

Elon Musk is probably the most recognizable entrepreneur on the planet. Love
him or hate him, no one can deny he’s prolific when it comes to starting
companies. You’re probably not the next Elon Musk, and you don’t have to
be. But you can learn something from the way he approaches business.
Musk thinks about the biggest challenges humanity will face in the future
and brainstorms solutions. This colossal-picture approach led to PayPal,
SpaceX, Tesla, and other mind-boggling ventures, and it has also made him
a pretty wealthy man. If trying to wrap your head around the fate of the
human race makes you feel a little dizzy, start by just thinking about your
own future. What problems is the world likely to throw at you down the
road? If these same problems seem to apply to more people than just you,
they might be the ones you need to begin solving.

Entrepreneurs should take comfort knowing that viable ideas can come from
anywhere. Most of these ideas won’t be earth-shattering, but some may be.
Follow the steps above, and you just might discover the one that could
launch your business.