The Entrepreneurial Mind

Christine Bianca B. Chua

Name: _______________________________________ Oct 24, 2021
B Date: ______________________
BSA 1-___
Module 2 Session 3
The Entrepreneur and His Strategies
Let’s Try This!
It’s time for a mental exercise! Do the following using the template provided:
1. Develop a Vision for your Business.
• What is your aspiration and what do you want to achieve with your company?
• State the main advantages and the benefits of your product or service for the customer. Explain
in about 7 words what you want to achieve)
2. How do you want to achieve your Vision?
• Translate your Vision into actions what you are going to do in order make the Vision come true!
• List what you are going to do!

My Enterprise’s Vision and Mission Statements

You have the business idea for a product or service – so state explicitly who you are and what you want to
achieve. The following questions should help you to make your company explicit:
VISION
Develop a Vision for your business. Of course, I have a goal that I want to achieve in order to
What is your aspiration and what do you satisfy my ambitions. I've always wanted people to know
want to achieve with your company? about my company and for it to have a solid reputation in
(State the main advantages and the the industry. Supplium meets the demands of its consumers
benefits of your product or service for
in terms of education and employment.
the customer! Explain in 7 words or
fewer what you want to achieve!)
Remember the action principles when
you think about the vision for the Vision Statement:
business. “To be one of the town’s leading providers
• be brief and clear (about 7 words)!
• be challenging and future oriented!
for school and office supplies.”
• be imaginable!
• be desirable and have the ability to
inspire!
• stress values that are important for the
receiver!
• depict a positive and general / abstract
image of the projected product, service
and/or organization!
 can stress differences to your
competitors! make the eyes of your
receiver’s sparkle!
Mission Statement
How do you want to achieve your I can achieve my Vision in terms of providing good
Vision? services, quality and affordable products.
(Translate your Vision into actions what
you are going to do in order make the
Vision come true!) MISSION STATEMENT:
To provide quality and affordable products and to
serve our customers better in their everyday needs.

Let’s Try This!

My Enterprise’s SWOT Analysis

Review the Competitor Profile Matrix and list your strengths and weaknesses! On what attributes are
you scoring high (your strengths)? On what attributes are you scoring low (your weaknesses)? List
additional
strengths (e.g., particular resources such as skills, equipment, contacts, information, etc.) and
weaknesses
(e.g., lack of resources, bad economic situation, etc.)! Review the Trends and Future Developments
and list potential threats and opportunities that might arise from the trends and future developments!
List
additional threats and opportunities you can think of for your business! Threats are for example: Entry
of new competitors, weak economy, costly new regulatory requirements, change in buyer needs, trends,
fashions, or technology. Opportunities are for example: New trends or new technologies, new foreign
markets due to falling trade barriers, internet bandwidth, alliances. Derive goals and actions plans
from the SWOT-analysis! State what you have “to do” to prepare for the future! The SWOT-analysis
will help you to take actions to survive and grow in your industry.

Opportunities Threats
1. Opening of Classes 1. Covid-19
2. Government Projects 2. Weak economy
3. New Technologies 3. Inflation
4. Closing of other
merchandising business.
Strengths To Do To Do
1. Flexible inventories 1. Maintain positive interactions 1. Use the business inventories
2. Good relationships with with suppliers, consumers, and strategically since some
supplier government authorities. products became scarce due to
COVID-19.
3. Good Location 2. Increase the number of
4. Quality and Affordable possible customers and the
Products amount of information available
in the community.
3. Keep your loyal clients by
continuing to provide high-
quality, low-cost products.
Weaknesses To Do
1. Few customers 1. Boost the number of target
2. Lack of Space clients by utilizing social media
applications and websites.
3. Lack of Employees
2. Expand the establishment's
space so that additional supplies
can be shown.
3. To attract more customers, use
discounts and promotions.
2. Increase the price while
keeping your target clients'
ability to pay in mind.
3. Follow the new rules and
regulations of the government.
To Do
1. Encourage more members of
society to become employees by
utilizing social media platforms
such as Facebook, Messenger,
and others.
2. Raise the pay of all employees
in the company.
3. Assure and demonstrate to
clients that the products are of
higher quality and more
inexpensive than other
Merchandising Businesses, even
as prices rise due to inflation.

Your Competitive Advantage

What is your competitive advantage?
(Take a look at your Product or
Service Analysis, your Product
Attribute Map, and your SWOTAnalysis
and state explicitly your competitive
advantage! For example, do you offer at
a cheaper price, a better quality, or a
product / service no one else is
offering?)
Customers can get high-quality, low-cost products from the
company. It also ensures that clients are satisfied with what
the company has to offer. Despite the fact that I have a
competitor in the same position with the business, I will
strengthen my operations by identifying new things that
other Merchandising Businesses do not sell, such as
Hardware, Clothing, and many more.
Let’s Try This!
Take 2 attributes from the Competitor Profile Matrix that are most important for customers when
they make the purchase decision!
Use blue dots to illustrate where your competitors are positioned. Add more dots if you have more
competitors or remove dots if you have less competitors!
Use the red dot to position yourself. Is there an overlap with some competitors or do you have a
unique position? If there is a significant overlap – re-think your concept or think about other attributes
where you have a unique selling proposition. Emphasize those attributes for your product/service!

My Enterprise’s Business Strategy

Developing a strategy for your business is not a complicated matter. Try to answer the following
questions and the answers will be the basis for your business strategy! This section will help you to
identify a competitive advantage and suggest actions you have to take to survive and grow in your
market.

Product Attribute Map

Take two attributes from the Competitor Profile Matrix (see Action Working Sheet 05 – Competitor
Analysis) that are most important for customers when they make the purchase decision. Replace
“Attribute 1” and “Attribute 2” in the following figure with your personal most important attributes.
Then use the blue dots to illustrate where your competitors are positioned (C1 – C4). Add more dots if
you have more competitors or remove dots if you have less competitors. Use the red dot to position
yourself (Me). Is there an overlap with some competitors or do you have a unique position? If there is a
significant overlap – re-think your concept or think about other attributes where you have a unique
selling proposition and emphasize those attributes for your product / service! You will only have a
competitive advantage over your competitors when your position is unique and does not overlap with
any competitor.

The product attribute Map is depicted in the figure below. In the graphic, two criteria are depicted:
services and quality. Competitor 1 received 5 points for service and 3 points for quality. Competitor 2
received four points for service but only three for quality. Furthermore, Competitor 3 received a 3 in
service and a 4 in quality. Furthermore, Competitor 4 received 4 points for service and 5 points for quality.
Competitor 5 and Supplium both received a 5 for service and a 4 for quality. This could imply that the
company has minimal competitive advantages over its rivals. As you can see, there isn't much of a
distinction between all of the Merchandising Businesses in town. It is obvious that Competitor 6 and
Supplium have a large overlap. To summarize, Supplium is not distinctive and has limited advantage over
its competitors because its position overlaps with one of them.
 Attribute

5
S 1 5

E
4
R 2 4
V
3
I 3
C
2
E

1
1

1 2 3 4 5 Attribute

QUALITY

Let’s Try This

Formulate an Operations Plan by employing the template provided.

My Enterprise’s Operations Plan

You have a great idea for a product or service? This section should help you formulating how you are
going to produce the product or deliver the service. What materials and what steps are necessary to
make your product or service – or in short: how and where are your products produced?

Answer this question along the following points:

Input Factors
What materials and equipment do you Since Supplium The materials and equipment that the business
need for your business? needs in the business are the following:
(List and describe the following
points you need to produce your or • Calculator
product or service: • Electric Cashier
• Raw materials and the suppliers • CCTV
(names, credit policies) and back- • Laminator
up suppliers that deliver these • Ceiling Fan
materials
• Automatic Thermometer
• Equipment (e.g., tools, machines,
technology, computers) • Alcohol
• Face Masks
Premises (required space, facilities, • Computers
buildings!) • Scissors
• Paper bags
• LED Lights
• Stock Building
• Parking space
• Paper Cutter
• Tape Dispenser and Packing Tape
• Display Holder/ Organizer
• Restroom Facilities
• Foot Bath
• Plastic Cover (Thick)
• Pen and Paper
• Boxes and Newspapers
• Cleaning Materials
• Others
• Transportation Vehicle

Suppliers
Name: Advance Paper Corporation
Suppliers for: Papers
Payment Mode: Cash and Post-Dated Check
Credit Policies: 60 days terms

Name: 468 Trading

Suppliers for: Charts, Booklets ad Books
Payment Mode: Cash and Post-Dated Check
Credit Policies: 30 days terms

Name: Huasan Trading

Suppliers for: School and Office supplies
Payment Mode: Cash and Post-Dated Check
Credit Policies: 60 days terms

Name: HBW Corporation

Suppliers for: Ballpens and Pens
Payment Mode: Cash and Post-Date Check
Credit Policies: 60 days terms

Name: Gateway Trading

Suppliers for: China Products
Payment Mode: Cash and Post-Dated Check
Credit Policies: 30 days terms

Back-up Suppliers
Name: Pickypan Trading
Suppliers for: China Products
Payment Mode: Cash and Post-Dated Check
Credit Policies: 30-days terms

Name: Andrea Golden Enterprises

Suppliers for: School and Office Supplies
Payment Mode: Cash and Post-Dated Check
Credit Policies: 80 days terms

Name: Trio Marketing Corporation

Suppliers for: Hardware supplies
Payment Mode: Cash and Post-Dated Check
Credit Policies: 30 days terms

Name: SQI
Suppliers for: Pens
Payment Mode: Cash and Post-Dated Check
Credit Policies: 30 days terms

Name: Veco Paper Corporation

Suppliers for: Paper
Payment Mode: Cash and Post-Dated Check
Credit Policies: 60 days terms

If you have personnel, provide job
descriptions and the functions of your
personnel! List the staff working.
Describe their jobs: What are they
doing? What are they responsible for,
who is responsible for what?
How is your product or service
produced?
(Describe the process how all the
input factors come together to
transform the raw materials into your
final product! Make sure to mention
the following points:
Responsible Actors/ Staff
The company requires fresh employees in order to deliver
excellent customer service. The company seeks workers with
experience, who are risk takers, hard workers, approachable,
and accountable. Each employee has a specific job that
involves the following duties:
• Cashier- He/she computes the products purchased by
clients in such a way that she writes the amount paid
on paper and then reports to the manager. The cashier
is in charge of monetary transactions, thus if he or she
makes a mistake, such as losing money, he or she must
reimburse the amount.
• Sales Person- He/she sells items and services to
prospective customers by making persuasive
arguments, and he/she introduces the company's
products. He or she greets customers, answers their
queries, assists them in finding things, gives advice or
recommendations, and takes payment from them. If a
goods goes missing, he or she will pay the full value
of the product.
• Security Guard- He/she examines the bag or the
person entering and exiting the establishment. He or
she is in charge of ensuring that the firm runs
smoothly.
• Delivery Man- This position is in charge of delivering
products while maintaining their quality. It indicates
that there should be no damage or missing
merchandise, and he/she will pay for it.
• Secretary- This role is in charge of preparing, filing,
and verifying business-related information. He/she is
the management's right hand and must provide the
manager with company information. Monitor the
Performace of the Employees.
• Manager- Oversees the general running of the
company. He or she is in charge of changing prices,
establishing new policies, and developing plans.
Production Process
Because Supplium is a Merchandising Company, the products
it sells will be sourced from local suppliers. I'll look for
accurate information and contact them to arrange a
conversation that both of us can agree on. LED lights,
computers, CCTV cameras, and other items will be purchased
from various stores.
 • Do you transform the raw
materials into the final product
I can outsource if I understand and follow all of the legal
yourself? If yes, describe how you
will do it and how the necessary criteria for starting a firm. Also, choose your suppliers and
equipment comes in! If no, staff carefully by having a face-to-face talk with them so that
describe how you will outsource I can assess their attitude and principles.
it!
• Provide an operations flow chart
(use an extra sheet) that depicts The Supplium's services will be built through assisting and
what materials are processed supplying clients with what they require in their daily lives.
when and how. Supplium can also communicate with clients through social
• If you offer a service you can media and websites.
depict or describe how you are
going to interact with the
customer instead of describing
your production flow!

Some of these points might not apply

to your business. Choose the points
you need to describe how and where
you are going to produce your product
or service and add points that
specifically apply to your business, for
example special customer services you
offer on top of the product!)
Outputs and Performance Indicators
What is your final product / service? Supplium is a store that provides school and office supplies
Describe the final good and such as pens, pencils, paper, erasers, coupon bonds, furniture,
performance indicators you put in tables, ribbons, and a variety of other items. The product is
place! analyzed to see if it is of high quality and if it can meet the
needs of the consumers. Because customers' requirements and
What are your performance
desires change all the time, the service is constantly changing
standards regarding quality? What
are your performance standards and improving. Supplium has the ability to adapt to any
regarding time? How long does it situation in order to serve their clients with contentment. So,
take to produce your product and as long as there is no theft or interruption to the establishment's
how many units are you going to peace and quiet, I believe the service is satisfactory.
produce per day / month / year?

How are you going to store your I, as the owner, am responsible for ensuring the quality of the
products? products that I will offer. Each product has a unique indicator
that indicates whether or not the product is of high quality. As
long as the product is free of flaws and performs its intended
function for the customer, the product's quality is satisfactory.
The products should be delivered before or on schedule, as I
need to consider traffic and other factors that may slow down

How you are going to deliver your
product / service?
(Describe how you deal with
customers! Describe how your final
product or service reaches the
customer. Do you sell it yourself? By
what means? Do you use retailers or
wholesalers? What means of
transportation do you use to ship your
product? What are the details of
payment?)
How will you ensure quality control
in your operations / production
process?
What standards will you put in place?
How do make sure that your products
or services maintain a high level of
quality? Describe your performance
measures and your way of reporting
to monitor and control the quality of
your products or services!
the delivery process. Supplium, as previously stated, will
purchase products from its vendors.
The company will have a storage room or building where the
products will be kept because I will buy in bulk so that there
will be no shortage. The company will also create a Display
Holder or Organizer so that the buyer can view what the
company has to offer.
Interaction with Customers, Delivery & Payment
The company will provide a delivery van so that clients who
live in remote areas and are unable to physically visit the store
can have it delivered to them instead. The delivery person
should be courteous and helpful to consumers, and he or she
should provide information regarding the customers' orders.
Supplium is made up of employees and a manager; the
employees are responsible for assisting the company in
achieving its vision and mission statement. The management
will develop the ideas and concepts, but employees may also
contribute. The final choice should be made by the manager.
Supplium will post its items and prices on social media in
order for the products to reach buyers. Customers can also
purchase the items in Zone-4 Bulan, Sorsogon. To broaden the
spectrum of customers who can purchase the establishment's
products, the business can sell both retail and wholesale.
Furthermore, Supplium will use J and T Express, LBC, and
Ninjavan for orders that cannot be reached by vehicle. Name,
Address, Date, Amount, Contact Number, and Signature
should all be included in the payment information.
Quality Control
Every week or month, personnel should clean, rearrange, and
clean the company's items to guarantee that they are of high
quality and free of damage. If the products contain a flaw, I
will not allow them to be sold. The following standards are in
place to ensure the quality of the products: The items'
dependability and availability, as well as the business's
services, should be good and well-maintained in order for the
firm to attain client satisfaction. Supplium will hold a cleaning
day as well as a monthly meeting to ensure that the company's
services are up to par with other Merchandising Businesses. In
terms of dependability, the company must withstand industry
changes while remaining constant in the products and services
it provides. Product availability relates to the quantity of each

What problems may hinder the
production process? What are your
back-up plans to keep the production
process going?
(Describe potential problems and how
you are going to deal with problems!
Explain what you would do to counter
the problems and to keep the
production and delivery going!
Problems might be delay in supplies,
power cuts, or rushorders)
product sold by Supplium. Customer service standards include
building strong relationships with customers and
communicating with them in a pleasant and caring manner.
The secretary will monitor employee performance, and if any
employees fail to follow the company's vision and mission, I
will speak with them.
Potential Problems and Preventive Measures
Problems that may impede the business's production and
operation process include a worsening COVID-19 scenario,
product shortages, power outages, geological hazards, and
inflation. Covid-19's status is deteriorating, which may have
an impact on the company's face-to-face operations. The firm
will adapt by applying government norms and regulations such
as wearing face masks and face shields, taking clients'
temperatures before they come in, allowing customers to drink
alcohol, maintaining a 6-foot spacing, and encouraging my
workers to be vaccinated. Due to Covid 19, a lot of items have
low stocks since suppliers’ limit what they can deliver to the
business, thus the business will look for back-up suppliers who
can temporarily supply the business so that Supplium can still
serve the demands and wants of the consumers. Power outages
are common in our town; as a result, online transactions may
be delayed, and the business may suffer as a result. As a result,
the secretary has the authority to message the online
transactions, for which I will supply the funds to fill her phone.
Natural events happen all the time, and they have an impact on
the business both inside and internationally. The company will
be able to cope in terms of preparing before the storm occurs
so that the products are not destroyed. Finally, there is
inflation. Inflation is caused by a variety of circumstances, and
it has an impact on the company's vision and goal statement.
As a result, the company will raise the price of its items while
keeping its customers' ability to pay in mind.
 OPERATION FLOW CHART

Prepare all the materials and Give workers their

equipment needed for the daily/weekly/monthly pay to
operation. recognize their efforts. The
owner decides whether he/she
has something to change to
improve the operation of the
Clean the facilities and Place. business.

Conduct monthly meeting with

your employees to provide
Guide the employees about
solutions to problems and to
their responsibilities
create improvements.

Assist the customers efficiently Make monthly reports about the

and effectively. state of the business.