ENTREPRENEURSHIP

Name of Learner: Grade Level:

Section: _ Score:

LEARNING ACTIVITY SHEET

OPPORTUNITY SEIZING

Background Information for Learners

Opportunity seizing is the last step in opportunity spotting and assessment. This is
the pushing through of entrepreneurs with their chosen opportunity. Entrepreneurs should
make the best out of this opportunity, and they should exert efforts and full dedication for the
success of the new venture. The entrepreneur’s idea can be any type of innovations listed
here:
Innovation is the process of positively improving an existing product or service
which can be a key driver for economic growth. It is constantly changing, therefore, products
and services must also adapt to these changes.

Types of Innovation
1. Breakthrough innovation includes inventions, occur infrequently as these
establish the platform on which future innovations in an area are developed. Examples
are the Internet, the computer, or the airplane.
2. Technological innovation includes technological advancement of an existing
product or service which occurs frequently. Examples are wireless fidelity or Wi-Fi,
the laptop, or the jet plane.
3. Ordinary innovation occurs ordinarily which are commonly originating from
market analysis and technology pull instead of a technology push. This means that the
market has a strong influence in the implementation of an innovation. Examples are
unlimited internet plans of telecommunications companies, a wireless mouse, and
airbus for economical travelers.

How to choose or come up with a competing product or service?

1. Identify the main customer segments.
2. Differentiate product attributes and features of each of the competitors.
3. Determine the existing marketing practices of the various competitors.
4. Categorize the market preferences of consumers when it comes to the products being
offered.

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Product Planning and Development Process
1. Idea Stage. This refers to the formation of the business ideas. It starts with an
entrepreneurial intent and proceeds with a development of a business idea using
logic and creativity.
2. Concept Stage. The refinement of ideas and visualization of an idea that can
serve as a business opportunity.
3. Product Development Stage. It is here where the business idea is concretized
with the production of a prototype.
4. Test Marketing Stage. At this phase, the product or service is introduced in the
market after a series of evaluation and feedback from potential customers.

Process of Opportunity Seizing

1. Crafting a positioning statement.
 The entrepreneur is advised to look at other competitors in the marketplace.
 Customer profiling will come into the picture.
2. Conceptualizing the product or service offering.
 It is an idealized abstraction of the product or service to be offered to the
preferred market of the entrepreneur.
3. Designing, prototyping, and testing the product
 The entrepreneur must render the concept and translate it into its very physical
and very real dimension.
 Be ready for the actual testing by the entrepreneur and then, later on, subject
to testing by potential customers through FGD, surveys, product demo
sessions, etc.
 Assess how much resources are available.
4. Implementing, Organizing and Financing
 Choose correct technology
 Choose the right people
 Design the operating work flow
 Specify the systems and procedures
 Design the organizational architecture

Learning Competency with code

Select the best product or service that will meet the market need.
(CS_EP11/12ENTREP-0d-6)

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Directions/Instructions:

Exercises 1. Supply the needed cell with the corresponding category of product or
service under each different types of innovation.

Ordinary
Product or service Technological Breakthrough
Innovation
Innovation Innovation

Example: Vehicle Jeepneys Driverless car Medical car

1. Food

2. Clothing

3. Cellphone

4. Cosmetics

5. Beauty Salon/
Spa

Exercise 2. Take a walk around your community and list down things that you
find missing, annoying, disappointing, or irritating. Are there any business
opportunities that you have spotted? Choose two items from your list, and
identify the best product or service ideas that you can provide to address
these.

Problems Encountered Product or Service to provide

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Exercise 3: Given that you have already chosen the best product or service that you will be
offering, answer the following questions:
1. What is your proposed product?

2. What are the main customer segments?

3. What are the different products or service attributes and features of each of the
competitors?

4. How will you determine the existing marketing practices of the various
competitors?

5. Why should consumers buy your product or avail your service?

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 Exercise 4. Analysis of Competitors’ Products or Services
1. Choose an industry with several strong competitors. An example would be food
industry, footwear industry, or apparel industry.
2. Try to come up with an analysis as to the prices and quality of the products or
services.
3. Share your analysis with your classmates and/or teacher for critiquing and
improvement purposes.
Questions for Competitor COMPETITORS’ PRODUCTS OR SERVICES
Analysis Competitor Competitor Competitor Competitor
1 2 3 4
A. Main customer segment
1. Profile
2. Traits and characteristics
3. Buying behavior
4. Usage pattern
5. Image of product
6. Major motivation
B. Product attributes and
features
1. Materials used
2. Sizes available `
3. Colors
4. Designs, models, and
variations
5. Packaging
6. Weight
7. Ease of operation
8. Durability
9. Frequency of upgrades
10. Functionality
11. Others
C. Marketing practices
1. Marketing channels
2. Advertising and promotions

3. Communication message
4. Prices and selling terms
5. Places and outlets
6. Market reach
D. Market performance
1. Sales volume
2. Sales trends
3. Best performing models,
variations
4. Worst performing
models, variations

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Note: Practice personal hygiene protocol at all times.

Note: Practice Personal Hygiene protocols at all times.

E. Strengths of competitors’
products or services
F. Weaknesses of competitors’
products or services
G. Main value proposition of the
competitors’ product or
service

Exercise 5. You have been tasked to be a part of the project marketing team of a certain
business. Create a role play depicting the process of selecting the best product or service
which the market needs.

Rubric for Scoring

Criteria Exceptional Admirable (7) Acceptable (5) Attempted (1)
(10)
Understanding o Information is o Information is o Information is o Information is
of the Topic factual and factual and factual but inaccurate
(40%) accurate mostly somewhat o Presentation is
o Indicates a accurate accurate off topic
clear o Good o Fair
understanding understanding understating of
of the topic of topic the topic
Cooperation o Accepts ideas o Accepts most o Unwilling to o Group does not
(30%) of others, able ideas without compromise work together
to compromise negative o Few members o One person does
o All members comments, contribute all the work
contribute able to
compromise
o Some
members
contribute
Presentatio o Shows o Shows some o Unsure of o Portrayal stalls
n (30%) confidence confidence responsibility o Lacks
o Informative o Presents some o Somewhat information
o Entertaining; information informative o Audience bored
engages o Engages o Engages o Mumbles
audiences audience\can audience o Body language is
o Speaks loudly be heard intermittently lacking,
and clearly o Some use of o Hard to hear inappropriate
o Appropriate body language o Some
use of body movement
language

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Note: Practice personal hygiene protocol at all times.

Reflection

1. I learned that _

2. I enjoyed most on _

3. I want to learn more _ _

References:

Batisa, R.S. (2016).Entrepreneurship, Makati City, DIWA Learning Systems, Inc.

Habaradas, R.B. & Tullao, T.S. (2017). Entrepreneurship, Quezon City, Phoenix

Publishing House, Inc.Morato, E.A. (2016). Entrepreneurship, Sampaloc, Manila, Rex

Printing Company, Inc.

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Note: Practice personal hygiene protocol at all times.

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Note: Practice personal hygiene protocol at all times.