Lesson 1 BASIS OF ENTREPRENEURSHIP

Assignment #1

1) Distinguish between an entrepreneur and entrepreneurship

Ans: With the above discussion, it might be clear that that entrepreneur is just a person
with a billion dollar idea, who has the ability and willingness to give shape to that idea,
by going through the entrepreneurship process. An entrepreneur is known for their
decisions, which decides the destiny of the enterprise.
2) State and briefly explain five characteristics of an entrepreneur
a. Passion- A startup founder is often driven by the quest for deeper purpose beyond the
sheer mechanics of operating a business. 
b. Perseverance.  Entrepreneurs need to be able to deal with obstacles. A business does not
get built overnight, and turning your idea into a reality will take time. 
c. Resourcefulness.  A vital ability for an entrepreneur is knowing how to make the most of
what you have. Your assets as an entrepreneur will be limited, so use them to the fullest.
Tapping into a network is key.
d. Open-Mindedness. As an entrepreneur, you may think you've zeroed in on a business
plan, but you'll need to learn to take in the opinions of others. Then if it appears that
your plan won’t work, then adjust. 
e. Spongelike nature.  Being an entrepreneur involves a learning process. If you’re not
willing to learn, think about leaving the startup world.

Lesson 2 UNDERSTANDING ENTREPRENEURSHIP

Assignment #2
1) List and explain the five common myths of entrepreneurship.

Ans:

a. You need to wait for the right time- A common misbelief is that you must wait for the
right time to launch a business. The truth is that there never really is a "right" time.
Usually, you never are going to feel fully ready. The secret is to prepare as best you can
and take small steps. 

b. You need to know everything- Real entrepreneurs thrive on being in a constant state of
learning. They enjoy creating, improvising and pushing boundaries. 

c. You need to be a risk-taker- In general, entrepreneurship is considered a risky

proposition. However, contrary to popular belief,

d. You need a business plan- Do you need a business plan before opening the doors of your
new venture? The answer is not necessarily.
 e. You need a huge budget- You don’t necessarily need millions of dollars or venture
capital money to start a business. Ryan Holmes, the cofounder of Hootsuite, says,”
When in doubt, bootstrap. Using your own personal resources is the easiest way to start
a business. You don’t have to convince investors about the merits of your idea.

2) What are the four distinct parts of the entrepreneurial process, and what is the relationship
among the parts?
Ans:
There are the four distinctive parts of theentrepreneurial process and &hat is the
relationshipamong the parts

The four distinct parts of the entrepreneurial process are asfollows

Decision to become an entrepreneur.

Developing successful business ideas.
Developining from an idea to an entrepreneurial
Mananaging  and growing an entrepreneurial

Each part is intimately interrelated and interdependent with one another

3) List and explain any five (5) similarities and differences between a startup and corporate
entrepreneurship

Ans: a startup, an entrepreneur is starting with a blank sheet of paper. They have only their
passion and their team to go with. There is no legacy business, no install base, no reputation
risk. They are free to test and iterate rapidly without a lot of resistance.

In an existing organization, there is already a successful legacy business that is repeatable and
predictable. There are processes, there is an ingrained culture, there are customers who need to
be catered to. A corporate entrepreneur looking to start a new venture has to take stock of all of
the above and figure out how to leverage the assets and circumvent obstacles.

Lesson 3 DETERMINING BUSINESS PROSPECTS

Assignment #3
1. Mention and explain the factors you would take into account in choosing a business
opportunity to invest in
Ans:
a. Market Size- One of the most important factors when evaluating a business opportunity
is market size. Do a little market research. Figure out if there is a market for the
opportunity — and how big that market is.
Before you move forward, you want to be sure the demand is there. You don’t need to
appeal to a massive market, but it does help if you understand the market. Additionally,
 knowing how engaged the market is and how likely they are to pay for what’s being sold
can help.
b. Relationships-Does the business opportunity come with some relationships? For
example, do you have an “in” that can help you leverage the opportunity? If you know
someone who is technically minded, that can help you with certain aspects of the
opportunity. What are your relationships with potential investors or customers? When
you have more relationships, the opportunity is likely to run smoother.
c. Ability to Manage Cash Flow- Next, you need to look at the ability to manage cash flow.
Is there start-up funding for the business? What about ways to keep funding the business
each month. Figure out how the cash flow will be managed, and take a look at the
business plan. You want to make sure that the business is likely to sustain itself after a
period of time.
d. Management Skillsets- What are the skillsets of those involved? If you are evaluating
your own business opportunity, you need to be honest about what you bring to the table,
and what you need to make up for. When looking for a business opportunity to invest in,
or expand into, look at the management. What skills do they have? Are they appropriate
and diversified? Do you trust the competence of the principals to make the opportunity a
success?
e. Passion and Persistence- Even if there is a bit of a talent deficit, it’s possible, in some
cases, to make up for that with passion and persistence. Are you working with people
who will get the job done?
Do you trust that they have the passion to make things happen? Will they approach
problems with a can-do attitude in order to solve them?
When dealing with your own startup, you need to make sure you have the passion and
persistence for the opportunity. Will you push through even though things get a little
dark? If you’ve done your research, and you are confident in your team and your plan,
then being able to push through is vital.

2. Write short notes on the following: (a) An opportunity (b) A window of opportunity (c) A
business idea

Ans:
a. An opportunity, only knocks once which mean you ned to grab and take risk
b. window of opportunity- it has variety of choices which one is applicable or best suits you
c. business idea- it’s a planning stage for you to create t develop a business

Lesson 4 FINANCING FOR A NEW ENTERPRISE

Assignment #4
Ans:
1) List and briefly explain any five (5) different sources from which the entrepreneur can raise
funds.
 a. Personal savings- a shell out from a developer
b. Bank loans- these are the common solution if you lack funds for your business.
c. Investors- these is a simple way to pitch your project is doing tie up with investments.
d. 5. Venture Capitalists VC funding is a suitable option for businesses that are beyond the
startup period, as well as those who need a larger amount of capital for expansion and
increasing market share. Venture capitalists are usually more involved with business
management, and they play a significant role in setting milestones, targets, and giving
advice on how to ensure greater success.

e. Friends & Family A big source of funding for entrepreneurs is friends and family.
Friends and family members can provide funding in the form of debt (you must pay it
back), equity (they get shares in your company), or even a hybrid (e.g., a royalty
whereby they get paid back via a percentage of your sales)

2) List and briefly explain any five (5) reasons why some financial institutions may not grant
loans to entrepreneurs.
Ans:

1. Lack of consistent cash flow

Banks tend to favor SMBs that have a steady revenue stream and consistent cash flow coming in
every month. SMBs that can't demonstrate this consistency are denied loans significantly more
often than not.

2. Insufficient collateral

For SMBs, lack of sufficient collateral excludes them from obtaining financing because loan
applications usually include a request for a viable piece of collateral in order to complete the
transaction and receive funding. That's not a problem for large businesses that own property or
other big ticket assets, but it can be an insurmountable hurdle for SMBs.

3. Debt-to-income ratio

Banks are wary of lending to businesses that have existing debt with other lenders. In many
cases, they won't even consider lending to a business that has already taken financing. Since
many SMB owners seek credit from multiple sources, especially during the start-up phase, this
can be a major strike against them when applying for a loan or cash advance from a traditional
bank.

4. Customer concentrations

Banks are often skeptical of businesses that report a significant bulk of their sales from only a
select number of customers. Lenders, in general, like to see diversity in a business's clientele as
opposed to the same customers. For example, a local pub or restaurant that relies mainly on its
"regulars" for steady income can present a perception problem with traditional banks.
5. Insufficient credit

In the wake of the recent recession, banks have increased their credit score standards, but many
small businesses have credit scores that are still suffering from the aftermath of the financial
crisis. In most cases, a business will need a credit score of at least 720 even to get a foot in the
door for a bank loan. That's too high for many SMBs

3) Explain any five (5) factors that financial institutions would want to consider in evaluating a
loan proposal
Ans:
1. Your credit
Nearly all lenders look at your credit score and report because it gives them insight into
how you manage borrowed money. A poor credit history indicates an increased risk of
default. This scares off many lenders because there's a chance they may not get back what
they lent you.
Scores range from 300 to 850 with the two most popular credit-scoring models:

2. Your income and employment history

Lenders want to know that you will be able to pay back what you borrow, and as such, they
need to see that you have sufficient and consistent income. The income requirements vary
based on the amount you borrow, but typically, if you're borrowing more money, lenders
will need to see a higher income to feel confident that you can keep up with the payments. 
You'll also need to be able to demonstrate steady employment. Those who only work part of
the year or self-employed individuals just getting their careers started may have a harder
time getting a loan than those who work year-round for an established company.
3. Your debt-to-income ratio Closely related to your income is your  debt-to-income ratio.
This looks at your monthly debt obligations as a percentage of your monthly income.
Lenders like to see a low debt-to-income ratio, and if your ratio is greater than 43% -- so
your debt payments take up no more than 43% of your income -- most mortgage lenders
won’t accept you. 
You may still be able to get a loan with a debt-to-income ratio that's more than this amount
if your income is reasonably high and your credit is good, but some lenders will turn you
down rather than take the risk. Work to pay down your existing debt, if you have any, and
get your debt-to-income ratio down to less than 43% before applying for a mortgage.

4. Value of your collateral

Collateral is something that you agree to give to the bank if you are not able to keep up with
your loan payments. Loans that involve collateral are called secured loans while those
without collateral are considered unsecured loans. Secured loans usually have lower
interest rates than unsecured loans because the bank has a way to recoup its money if you
do not pay.
The value of your collateral will also determine in part how much you can borrow. For
example, when you buy a home, you cannot borrow more than the current value of the
home. That's because the bank needs the assurance that it will be able to get back all of its
money if you aren't able to keep up with your payments.

5. Size of down payment

Some loans require a down payment and the size of your down payment determines how
much money you need to borrow. If, for example, you are buying a car, paying more up
front means you won't need to borrow as much from the bank. In some cases, you can get a
loan without a down payment or with a small down payment, but understand that you'll pay
more in interest over the life of the loan if you go this route.

Lesson 5 VISION, MISSION, AND OBJECTIVES TOWARDS ENTREPRENEURIAL

DEVELOPMENT
Assignment #5
1) How important is a vision in the entrepreneurial process?
Ans: A vision statement is important to a company because it serves as a strategic plan for
success. It can act as a guide when employees encounter challenges. Vision statements also
help motivate employees to work toward shared goals. Investors and others who show
interest in the business may also rely on the vision statement to better understand the
purpose of the organization.
2) List how you will ensure your vision is brought into reality
Ans:
a. See it clearly- It starts with two simple words: goal clarity. If the end result
appears fuzzy to you in any way, then you will struggle to accomplish it. Most
people simply do not spend enough time defining what "success" really looks like.
b. Believe it- You must also fervently believe in your endeavor. Passionate beliefs give
you a sense of purpose, dedication, direction and endurance.
c. Pursuit it-Vision paints the picture. Passion fuels the fire. But action alone gives life to
our goals.

3) Explain the importance of a mission statement in a business enterprise.

Ans: Companies have mission statements to unify the efforts of all employees toward a long-term
goal. Some departments or teams will develop a more specific mission statement that focuses on
their unique function, but company-wide mission statements must be broad enough that every
employee can relate to their main ideas. Mission statements communicate a company's values to
their community to generate interest in the solutions their company creates.

4) Why should an entrepreneurial organization have clearly stated objectives

Ans: Goals describe where the owner wants the company to go; objectives define how to get
there. Businesses that do not identify their long-term goals and do not create working
objectives, will grow and develop more slowly than other companies, if they grow at all.

Objectives are important to communicate and assign responsibilities of performance to

employees.
Lesson 6 DOING A FEASIBILITY ANALYSIS AND OUTLINING A BUSINESS PLAN
1. Prepare and defend a business plan or feasibility study

NAME OF THE PRODUCT: TOASTED POCKET SANDWICHES- Bready to Eat

EXECUTIVE SUMMARY

The proposed business enterprise adopts the name of Bready to Eat from a
common phrase ‘ready to eat’ which is commonly used in the context of fast food chains.
Similarly, the enterprise is engaged in the service of selling healthy and nutritious
sandwiches, with the purpose of providing services preferably to students and
professionals around the vicinity of Bataan National High School.

Numerous problems have been found by many studies regarding the effect of the
nutrition of students on their academic performance. A lot of factors contribute to the low
amount of nutrition that is present in the students’ bodies. One factor is their time
management. Since students are often staying up late in order to finish all of the tasks,
they tend to wake up late and skip breakfast. Another factor is eating the wrong kind of
food for breakfast. Students who are running late with no time to prepare their own
breakfast will straightly depend and go to fast food chains or convenience stores that have
a huge amount of preservatives and additives on their products with less nutritional
attributes. Bready to Eat offers a solution to that by vending fiber-rich and healthy
sandwiches while serving in a fast-paced manner.

This business is a sole proprietorship which means that the overall operation is
headed by a single owner who also manages approvals and purchases, and makes
important decisions. Alongside the owner is the cashier, head baker, and the crew who is
also I charge of the marketing. The owner will make use of the Affiliative Management
Style which is focused in establishing a good relationship between all of the workers
involved in the daily operation of the business. A set of policies are made to achieve the
goals of the enterprise which involve personnel policy, working hours, labor cost,
operation policies, food safety and quality, and a general policy for unwanted violations.

The establishment will be located in front of Bataan National High School along
the Roman Super Highway as this area is found to be strategic for the business operations
as well as having the accessibility to the supplies needed. The business aims to target
high school students and school personnel. Based from the result of the survey, an annual
demand for each grade level has been made. Since there is no business in Balanga that

solely sells sandwiches as their main product, there are indirect competitors only. The
major indirect competitors include 7/11 Convenience Store, Mini Stop, Vercon’s,
Robinson’s Supermarket, Elizabeth Supermarket, and Capitol Bakery. The marketing will
be executed through social media, radio, and distribution of stickers and posters that will
inform the public about the existence of the business.

The nutritional benefits from both the main product which is the sandwich and the
paired beverage with it are enough to add into the activeness and alertness of the students.
Nutrients will be coming from fresh vegetable ingredients and juices rich in vitamins. It
is manufactured freshly and hot to suit with the low temperature in the morning. The raw
materials and supplies guarantee a less amount of fat and ample amount of carbohydrates,
fiber, and protein.

Management Study

Management study shows that the company's goals and objectives can be attained.
The proponent especially took into consideration the capabilities and attributes of each
employee before accepting them and placed them in their appropriate position.
Market Study

The marketing study revealed to the proponent that there is a demand and supply
gap that the Bready to Eat is capable of filling it. This is shown through surveys provided
by the proponent and with the students within the school premises.

Technical Study

The Bready to Eat has all the equipment and furniture needed in the business
operation. There are lots of considerations and options taken before purchasing
machinery or equipment. Also through technical study, the proponent listed all the
needed raw materials and supplies with their corresponding description and nutritional
facts.

Financial Study
The financial study shows that the business is efficient and effective in its
operations based on the result of calculations of the projected five-year financial
statements.

Socio-Economic Study
With the help of socio-economic study, the business provides a positive effect on
the government, community, personnel, and environment. Proper disposal or following
waste disposal management will be properly mandated and planned to avoid pollution
and its harmful effects on the community. Also, the business must respond to their
economic responsibilities by paying taxes, licenses, and permits. Lastly, it will result in
the possibility of providing job opportunities to the people and will contribute to a
positive employment rate within the City of Balanga.
Conclusion

After taking into account all the previous analyses of different aspects and studies
conducted, the proponent has concluded that the proposed project is feasible and viable in
terms of financial, marketing, managerial, technical, social and economic aspects.

PROJECT BACKGROUND

A convenient and healthier variety of bread is what the commerce needs to attain
in the long run. For this concept of branding, analysts want to linger the interest of the
buyers with the version of ready to eat bread. Presenting such goods will be favorable for
those individuals who are having hectic schedules due to their never-ending paper works
and school exercises particularly for students. The business will also offer diverse sorts of
spreads such as chocolate spread, chunky spread, and panini spread that will all
incorporate diverse turn of flavors in your ordinary plain bread.

Many varieties of bread line fill the supermarket but some are healthier than
others. Certain types are high in vitamins, minerals and fiber are sure good for the health
of everyone while others are made from refined grains and offer only a little in terms of
nutrition. Bready to eat will be using only a white whole- wheat bread that is known for
its nutritional content. It is made from the whole grain which has bran, germ, and
endosperm that was similar to the normal whole-wheat bread. It has a mild and soft
texture that adds up to the taste of the sandwich. Promoting a healthy and convenient way
of eating the sandwiches offered by Bready to Eat makes the customer's cravings more
enjoyable and worry-free.
 COMPANY PROFILE

Mission

To satisfy our customer's needs and wants by creating a well-crafted food and beverages,
and by providing high-quality customer service in the process of taking orders,
redeeming of the product, and consumption of the product.

Vision

We envision a business with a wider range of consumers who are patronizing our
product as we contribute to the industry of food through the creation of new toasted bread
recipes.

PRICING

A good pricing strategy helps the company in determining the price point in
which it can maximize profits.

The pricing of any product or service is remarkably complex and intense as it is

the outcome of several calculations and understanding of the market and its consumers.
When setting prices, the company must consider a wide range of factors including the
ability of the customer to pay, the condition of the market, the demand for the service, the
target market and the competitor's offering.
 It is also one of the most sensitive issues in any kind of business. The customers
may not avail the products and services if it is priced too high while the company may
not succeed if it is priced too low. Along with the place and the other promotion, the
pricing can also have a profound effect on the success of the business.

PROMOTIONS AND ADVERTISEMENT

The project is contrived because the company aims to give the students and
professionals a place where to stay comfortably while finishing undone paper works at an
affordable price. Therefore, to be effective, ascertaining how to successfully attract and
recruit students and professionals has become an essential part of maintaining the
business.

Frequently, firms go out of business because most people don't know anything
about the business and the services that the firms offer. By simply having brochures and
advertisements on different social media platforms can create awareness to the people.
Personal selling or the face to face presentation of the flow of business, linking the
organizational goals with the public interest and the use of the company's website for
online reservations and other transactions may earn the understanding and acceptance of
the