Name: Bautista, Dhoz Ahsram Balboa Date: June 21, 2021

Subject: Entrepreneurship

A. Directions: Take time to look and scan for the words in

the word cloud.

Exercise: The word cloud above shows different words

related to ENTREPRENEURSHIP. Choose 5 words and
give their definitions/concepts in relation to business.

Business: defined as an organization or

enterprising entity engaged in commercial,
industrial, or professional activities.

Investors: may provide loans, buy shares,

guarantee to pay creditors, or even contribute
with labor. An investor commits resources to a
project or business, expecting to gain a future
benefit.

Finace: the raising and managing of funds by

business organizations.
 Organization: are structures that promote the
emergence and development of ideas from all
members of the firm.

Competition: the contest or rivalry among the

companies selling similar products and/or
targeting the same target audience to get
more sales, increase revenue, and gain more
market share as compared to others.

B. WHO ARE ENTREPRENEURS ? Explain in your own words

the meaning of entrepreneur as you relate it to what you
usually see or experience. (minimum of 7 sentences)
An entrepreneur is a person who creates, organizes, and runs a firm
while assuming more than average financial, psychological, and
social risks. He is a person who develops or seeks out business
ideas, which are subsequently applied to form a company. To be an
entrepreneur or a businessman, one must be able to develop
something new that provides value to a target market in order to
receive something in return and transform the venture into a
lucrative venture. To be successful in business, an entrepreneur
must be willing to put in a lot of effort from the beginning to the
end of the product or service development process. One of the best
things about becoming an entrepreneur is that those who are
willing to take on the task will be rewarded handsomely. Though
there are many positive things that may happen in a business, it is
important to remember that businesses fail for a variety of reasons.
As a result, an entrepreneur must be willing to take a chance and
plan for the worst-case scenario.
C. Marketable Product and Services
Guide Questions:
If you are going to create a quality and marketable
products/services, what would it be? Assess your proposed
product or service using the guide questions below:
1. What will be the product that you want to offer? Describe it
briefly. Refurbished Cycling Visions will cater to a rising market of
motorcycle enthusiasts by providing high-quality secondhand
motorcycles and motorcycle parts. Used and damaged motorcycles, as
well as used motorcycle components, will be purchased by the business.

2. Are your products/services really need by the people? What are

your justifications? Vintage Motorbikes: These motorcycles have been
thoroughly examined and, in some cases, refurbished to provide the
greatest value to the buyer. Components that have been utilized:
Engine parts, bodywork, gas tanks, electrical parts, frame, and chassis
wheels and brakes are among the high-quality items available.
3. Who do you think will be your potential customers? Describe
them. Refurbished Cycling Visions will concentrate on two types of
customers: Male baby boomers, ages 40 – 65 & Young men, ages 18 –
25. According to the demographics, there is a sizable market for
secondhand bikes and motorcycle components, particularly among
experienced riders. This is especially essential since a seasoned client
will seek out a business whose owner has a solid reputation in the
motorcycling world for quality and service.
4. Is the number of people who will potentially buy your product
enough to cover your business expenses and for you to be able to
get a good profit from it? What are your justifications? Refurbished
Cycling Visions is built on excellent word of mouth among motorcycle
enthusiasts. Valenzuela's motorcycling community is well knit, and its
members use it to find resources and services. Refurbished Cycling
Visions will get additional business with each pleased consumer. A
Customization Show and Competition will kick off Refurbished Cycling
Visions. Refurbished Cycling Visions will provide a 15% discount on any
purchases over 2,435.55 PHP during the first month of operation.
Members of the city's seven motorcycle groups will receive a regular
10% discount from me.