TECHNOLOGY AND LIVELIHOOD EDUCATION - Basic Entreprenourship ‘Competencies: 4. Entrepreneurial Competencies 2. Parts of te Business Plan 3. Production and Marketing Processes ‘4. Basie pring)ples of offes end business management 5. Business Ethos -NTREPRENEURSHIP “Wane of taking risks to offer goods and services toa ‘pectic market forthe purpose of prof. Abily to create new things invest in an enterprise and ‘expand through addtional markets, products and toehniques. Simply about finding and creating new opportunites for {nese to provide opportunities fr others. ‘The capac of an individual to forecast new business: rospects in the form of goods and services needed by ‘thers and to deliver them atthe right price. ENTREPRENEUR - one who bears uncertainty, buys labor and ‘materials and sells products at uncertain prices. He/She one who takes tisk and makes innovation on the factors or production. CHARACTERISTICS OF AN ENTREPRENEUR “1. Passionate ~ they ike of are interested in ther business. 2. ‘Nilingniees to learn and experiment ask hep ror others Who ae experts on a carta el ‘3. lardworking ~ there's no substitute fr hard work and only you can give 100% tit 4. Pereetont and Patient ~ they learn from thor mistakes. They may adopt a new strategy and apply itn the same business, Alvays ties his best io see his plan through ithe thinks he is Fight 5, Has vision ~ have business plan atthe start. Set his clear ‘and realise goal that guides his action and thought. 6. Creative and innovative — learn to be exible and to adapt by watching the market closely. 7. Opportunity seeker ~ grab opportunities that comes 18, Persuasive and know the value of networking ~ I rofers to leadership, The entrepreneur has the power to influence pecple. 9, Trus to thelr words 40. Decision maker — isthe abiity that wil make a man of acton 14. Risklaker 12. Demand for qualty and oeteney 48, Systematle 14. Confident aaron bOt OF ENTREPRENEURSHIP 1. Generates employment 2. Helps in econarne aroun 2. Eradicates poverty and social unrest 4.__improves social and image abroad CONTRISUTIONS OF ENTREPRENEURS TO ECONOMIC. DEVELCPMENT “They develop new markets They dscover retinas 12 mobilize capital resources for produc They introduce new technologies, ce} They create employment They improve the quay of te They contrite fo mare equtabe income dtrbuton and eases social unrest. REQUIREMENTS OF ENTREPRENEURSHIP ‘Avalabilly of resources IMerket demands ‘The extent to which people may patronize the product Goed location “The sk od the business enterprise Capital or funds Sulciency or funds or capital Personel Enlvepreneurial Characteleios (PEC) —refers tothe desired ‘uals, which enable an entrepreneur to do what is expected of hier and succeed in business, “Three Clusters | "A. Achievement Custer 1. Opportunity-seeking | 2. Patssience | 3. Commitment to work contract 4. Rlsktaking 5, Demands for quay and effkiency lar 1 2 ‘Soaring frome seking 5 State sara sed montong Powe aust 1" “pertasion and newer 2 Setreonenes susness —ic monica efor of ndduleto produce and aad ses tote tone te nese afte soc Sr TURES OF SUSNESS ORGANZATIONS So ES moptrsins omed end eperaee by an indi ‘The omer cafled Proper 2, Paso’ the opal sangeet of th ormere Soncro wa cal meshes octal) 2, Soperaten “is composed od moe tan ave ovnere who Gamcmacheg sta 4. Seopette isthe cy seid asodatns of persone ‘stra cmon bond of terest who are vourtarly fined toptr to atve a mw commen reding eats contisuon te cap Seog fr sha of ets and Denes. NANAGERIAT CONCERNS I SUSNESS. | Boning = whe ata be done er hat Business io put up 3. Grong “wat taste fo peso and Mew aezamech oon 2 Sting ~ geting heat people or heft. 3 Brewtlg "gusing people nthe mpiematon of he plan Pasagr re sipervoln, eraton anf evelopment poens. 5. Erdsng~ sessing the fo ofthe bine to find out fever ls metng good eres FACTORS TOE EVALUATED IN OSCOVERNG BUSINESS SPPORTUNTES | Fr fae the ounblr of prospactive buys the presence of Compete andthe ces and quay fi nd eres hhave to be analyzed. 2. _Individte ntereat~ interest should match business opportunites. t 3. Capital = the availabilty of funds should ft the business to be organized. 4. ‘Sills = the entrepreneur should have thp proper skill inthe business he = going to undertake ‘5, _ Suppliers of inputs ~ it isnot enough that there are sutfctent buyers of goods and serves. Its equally important that thee ae steady suppers fron mater ond terns ofthe business, 6, Manpower the eucosss of any business enterprise ‘marly depends on the efficiency of it employees. 7. Technology entrepreneur should be alvare ofthe presence of technology because this s an oppertinity for them to Improve ther products or riroduce new ones in the market BUSINESS PLAN- is a document that provides itvestore and partners with Fnandlal information and alo prevides the ertepreneura viable tnd reales roadmap for hiemhor Foam enterprise. BUSINESS PLANNING ~ process of seting up goals for a particular business endeavor and making ways to achiove these by deciding in advance what fo do, how to da t, and when fo dot PRINCIPLES OF BUSINESS PLANNING 1. Mustbe realistic, { 2. Must be based on fet needs | 3. Mustbe fexble 4. Must start with «simple project TIPS IN PREPARING A GOOD BUSINESS Pt Prepare objectively brief and concise plan. Prepare a clear, simple and honest pa ‘Aways aderes using a thé person pronoun, ‘Aways consider falures and challenges Concentrate on one business ony. Emphasize the target costumersimatk Make sure tha the plan is neat and wel-orgenized Copture the reader's interest. | BASIC STERSIN PREPARING A BUSINESS PLAN 1. Make an evaluation of your availabe rources and interests, | Study your market. | Select a location for your business Prepare a production plon | Prepare an organizational pian Prepare a financial plan Prepare a management plan | 8FEASIBILI'Y STUDY — a carefuly thought structures formal ommerciaieport that is well documented and cleaywelten fo safeguard any wastage of turther investment project SVIOT ANALYSIS ~ siands for Stengihe. Weeknesses, Opportunities an Threats. An analysis based on the gathered data fom the !nvmediotesovonment and morkt. This can be based fom suveys ‘and interviews. BUSINESS PLANESSENTIALS 1. "The Mission Statement ~ purpose, goals and business concept. 2 The Executive Summary concise rie of the plan's crucial content. 3. The Business and ts Management Team ~ clear and concise description ofthe business, plans to go about rationale, key people and sections eblectve 4. The Praduet and Marketing Pian ~ discussion of the product. 8. The Financial Satogy ~ summatizes the flow of money in and out, PARTS OF A BUSINESS PLAN 1. Cover ~imust be presentabie and enoes the reader to open {te document and tead on, 2. Executive Summary ~aside from summary of business plan, It shoutd contain contact information, 3. Table of Contents 4 Irformation ofthe company 5 8 1. lefermaton on the industry and business enviranment Information on the management team Marketing plan Pancial Statements ‘THE PRODUCTION PROCESS ‘is the process of crating or bringing into being the Droducts and setvices which the firm dellvers ad sels to Re market ‘Three (3) Main Parts of Production 4. Input tabor, land, machinery anc raw materials 2. Process 3. O.iput~ friched goods end services 60s of OPERATIONAL SYSTEM 4. Manpower —is the people who work n the business entity 2, Mterials ~ are the things which are consumed in the ‘ocess of producing goods or services Machinery ~ refers fo the equipment used in producing the products, ‘Money ~ refers tothe capital used in operating the business, ‘Management - refers io the entrepreneurs who avereee the ‘operation of the business. ‘Msthod = refers to the system used in production. ‘STAGES OF" PRODUCTION + _Aussembly~ is puting al pars together to form a inal product + Fhishing ~ may mean painting, vatnishing, polishing, Luring, cleaning, glazing, ett ‘+ Inspection ~ verifes tht an operation has been carted out cerretly es fo quality or quaniiy.- + Storage Stage reters to kesping oF storing raw materials or products temporarily or permanently and transporting of Imving fom ona place fo another: ‘+ Producti Planning —involves determining the needed fw ‘materials, numbers of working machine and te fran for Cempletion of each job opersior notes. + Ruling ~ determining the tobe followed by the ‘terial in process fom ofe machine, + Scheduling Fs the apptcation ofthe time allotment nthe production process, + Stpervision of Production — involves dispatch of work orders, outing papers and cupplementary ineruction FACTORS OF PRODUCTION + Land ~ inctude natural resources + Labor refers ta both physical and mental efforts involved in the production of goods and eorvices, + Cepital— pertains to equipment, machineries, building nd ter physical resources used in production of goods or seruces, ‘+ Entrepreneur Abity to coordinate he land, aber and ‘aha fects for prodution, PRODUCTION RESOURCES ~ © Material Resourees —iangible assole ~ © Fitancial Resources ~ monetary requirements © _ Human Resources — people MARKETING! ~ ts med at etemining and ening the demend ane ‘supply fort product or service nthe past and making projections of ‘dermand and supply in the fur. MARKET — vere and ta ito the product ie sold: MARKET RESEARCH ~ Is the process of systematically gathering, ‘recording ant evaluating data gathering a epedife marketing problem MARKETING PROCESS ~ consist of sang and promoting tne goods for services the organization 1. The Situation Analysis ~ vowed in terms af externat ‘ecuironment and internal analysis ofthe business ‘organization isl identication of opportiites to satisfy ‘nfutled needs: understanding own cashes end {environment vic itis operating, Framework: © Analysis (Company, Cusfomers, ‘Gompeitors, Colaborators, Cimate): PEST Analysis (Poitical, Economical, Social and Technologioa} and SWOT Analysis. i 2. Marketing Strategy ~ its pursuing forthe opportunity ofthe Unidentied unfutteg neade. i) ‘© Segmentation ~identioaion of partons ofthe ‘market that are efferent rom ope another. 2 Targeting © Value Propostion tothe target market 3. Marketing Mix Decisions ~ refers to tactic! decisions such 2s product development, priong decsions, disxtion ‘enteacte and promationa! eampaign develoorant 4. Implementation and Control 45 Safety of Good Housekoeping —Is the systematic practie of food housekeeping the worplace, (Sor ie Ping ngs oder ‘Grderiness or aroper | Standecize (Seiteiay i (Sista (Srnsune) | ules and standards Making 88 s habit Sets Ensire ate nave rat | Oveoked any potenti Wiese ecto eens MARKETING FUNCTIONS 1 Bechange Funetons = i cornonly known 2s marketing. These functions takes plage atthe market ‘such as buying, seling and peeing, 2, Physical Functions ~ enable the actu! flow of ‘commodities through space and time rom producer to consumer and ther transformation ta form desirable to the consumer ike assembling, anspor. and handling, grading and standardization, processing and Packaging, storage, { 3. Faciftaing Functions ~fancing and isk-bearing, market information, demand ana supply creation, ‘market research, MANAGEMENT ~fs the art and science of organizing, prepering and ecting human efforts applied to contra the forces and utlize the ‘materials of nature fr the bent of man, FUNCTIONS 4. Planning 2.crganizing 3. Staffing 4 Directing 5. Contrling, PRINCIPLES. 1. Tho Principle of Athorty 2 The Unty of Command Pincie 3. Span of Conve Prine 4. Prinaple of Delegation of Authority 5.__The Princo of Homogeneous Assignments SOIENTIFIC MANAGEMENT ~ study tho effects of Ue and energy in production (Frederick W. Taya) | FUMAN RELATION MOVEMENT ~ Production is dependent on the ‘morale and matation of werders PPanicipatve Management ~ combination of elentife and human "eladons movement | Select competent workers | Trenning and developing supervisory emplayees. Concern forthe welfare ofthe employees Promoting maximum [eb sastecton invang emplayees in decsons affecting jem, Promoung conatuctve goals. I Proving veac partixpaton LEADERSHIP —1s the art or process of iuencing peopte so that they wil sve wangly and enustasialy toward Psp achievement of sroup goes STYLE O- LEADERSHIP | 1. ‘uiocratic— gives commands and expect immediate and ful eomprence 2. Democrote = consuts wth the sorties on proposed actons and dedisions 3. Lnasez Faite~ allows subordinates tet fer own goals | and actiova them. ETHICAL PRINOIPLES 1 Honesty 2. Promis-keeping 3 Foimess 4 Respect (or others 5. Compassion 6. Integrity ‘Com fo the Lord whatever you do and your Fl i euoceed” + Proverbs 163. |