Course Code: ITE 351 - New Venture Creation

PHlNMA EDUCATION Module #5 STUDENT ACTIVITY SHEET

Name: ----------------------- Class nurr,b.,.�r- --

Section: -----Schedule: --------------- Date. -----

Lesson title: The Whole Entrepreneurial Process Materials: Student module

Learning Targets:
At the end of the module, students will be able to: References:
1. Briefly explain the overall entrepreneurial Barringer, Bruce R. and Ireland, R.
process Duane (2019) Entrepreneurship:
2. Make a small version of the entrepreneurial Successfully Launching New
process in their ventures (future) Ventures, 6th Edition (Global Edition).
Pearson. ISBN: 978-1-292-25533-0

A. LESSON PREVIEW/REVIEW
Introduction
Welcome back Future New Venture Capitalists!
Normally, we would be discussing the entrepreneurial process one by one. But this topic will
cost more than the whole semester, and it is supposedly covered in your other subjects such as BAM
124. Here we just have to recall for other who knows it already, and for others to simply have a
general idea of what we are doing in this course. So this mo�ule will explain briefly the many steps in
the Entrepreneurial P�ocess. In our case we will not be discussing the overall detailed of this process.
But we will discuss some of th� topics in depth in the future modules, and we even discussed some in
the previous modules.

8. MAIN LESSON
Content Notes
The Entrepreneurial Process
With all successful business, there undergoes a series of steps that they made to make sure by
the end they will be successful. This Entrepreneurial Process is the basic model of such steps. There
are 3 major parts, and each part has many steps within them.
1. Decision to Become an Entrepreneur
a) Introduction to Entrepreneurship

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 Course Code: ITE 351 - New Venture Creation
PHINMt\ EOUCATI 1N Module #5 STUDENT ACTIVITY SHEET

Name: ----------------------- Class nurnrJu __ _

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2. Developing Successful Business Ideas

a) Identifying Opportunities and Generating Ideas
b) Feasibility Analysis
c) Developing an Effective Business Model
d) Industry and Competitor Analysis
e) Writing a Business Plan
3. Moving an Idea to an Entrepreneurial Firm
a) Preparing the Proper Ethical and Legal Foundation
b) Assessing a New Venture's Financial Strength and Viability
c) Building a New-Venture Team
d) Getting Financing or Funding

There is actually 1 more major part having 5 more steps. But those are discussed in a different
course, and mostly are a bit �ut of our IT �spect.

In Depth
1.a. Introduction to Entrepreneurship
We already discussed this \n module 3. And we no longer need to discuss it further. It involves
definition of entrepreneurs and entrepreneurship. Why do people become entrepreneurs.
Characteristics of Entrepreneurship. Positive effect of entrepreneurship.

2.a. Identifying Opportunities and Generating Ideas

We also discussed this in the previous, module 4. Where the we have to generate ideas and also
Identify Opportunities.

2.b. Feasibility Analysis

Feasibility analysis is the process of determining if a business idea is viable, or will it provide income
in the future. And it will only result to either it will pass or faiL It involves a scientific/statistical study.
 Course Code: ITE 351 - New Venture Creation
PHINMA EOUCAl ION Module #5 STUDENT ACTIVITY SHEET

Name: ----------------------- Clase_; riurnhe'. --

Section: ----- Schedule: --------------- DatE-,:

Where the finance is measured, product/service is tested and sampled if it is good or bad, where
the target/industry is check if it will really provide an income, and finally the organization/firm is
checked if it can handle the business.

2.c. Developing an Effective Business Model

A business model is a firm/organization/venture's plan or recipe for how it creates, delivers and
captures value for its stakeholders. The goal here is that you make a model that can entice
people(investors/stakeholders) to invest their money to your idea/business. A good idea of this is like
from the online software named Dropbox, where it has a freemium business model. Where you can
use it freely, but if you .buy or subscribe,
'
you can use more of its features.

Business model also shows how your business will gain its income, or what technique you will use to
gain income.

Later in this course, in a future module, we will be giving you examples of business models that might
inspire you on starting your business.

2.d. Industry and Competitor Analysis

This is a very exciting topic, we will be discussing this in a future module. But this is a brief description,
an industry analysis is business research that focuses on the potential of an industry. An industry
is a group of companies/firms that focuses producing or offering the similar product/service. So in our
case it's the IT industry, we have game, app, or website development, etc. Competitor analysis is a
detailed evaluation of a firm/company/organization's competitors, whether or not they are considered
a threat or perhaps someone that can help them, we have to analyze it.

2.e. Writing a Business Plan

A business plan is a written narrative, typically 25 to 35 pages long, that describes what a new
business intends to accomplish and how it intends to accomplish It. More on this in later modules.
 Course Code: ITE 351 - New Venture Creation
PHlNMA EDUCATION Module #5 STUDENT ACTIVITY SHEET

Name: ----------------------- Class number: --

Section: -----Schedule: --------------- Date: ----

3.a. Preparing the Proper Ethical and Legal Foundation

One of the most important things the founders of an entrepreneurial venture can do is establish a
strong ethical culture for their firms. This is of course to set how your firm ethical acts and the legal
standards that it must follows. Aside from this here we look at the licenses (license to teach, license
to practice medicine doctor, etc.) and permits (mayor's permit, BIR permit, etc.). And many other
things. But overall it focuses on ethical and legal foundation of your firm.

3.b. Assessing a New Venture's Financial Strength and Viability

This is with your feasibility analysis, but here it focuses on the financial side. It answers the questions
how profitable is the organization (Profitability), how is it able to meet short-term goals and
obligations (Liquidity), how efficient it uses its assets and resources (Efficiency), and what is its
overall health of the financial structure (Stability), can the debts/loans be easily met?

3.c. Building a New-Venture Team

s. A new-venture team is the group of founders, key employees, and other professionals that move a
new venture from an idea to a fully functioning firm. So if you plan to make an IT company then make
sure you have the necessary employees or key members, such as developers, quality assurance
engineers,
- designers, project managers,
' etc. This also includes if you are a solo organization such as
Youtubers and Streamers or most start up organizations.

3.d. Getting Financing or Funding

The most important part in startin"g up the business after all planning, idea ge-neration, convincing, etc.
Is obviously getting the money/funding to jump start the business. Usually this comes from your own
investment, you can have your friends, family, etc. You have to check what part of the initial money
will be used for the assets, employees, maintenance, and other resources, an_d you also have to set a
backup if ever the business losses increase.

Tf-11.s dr>cumcnt is the prorcrt_ r of ri l\1fA EDUCATION

 Course Code: ITE 351 - New Venture Creation
Pl-llNMt\ EDUCt\TION Module #5 STUDENT ACTIVITY SHEET

Name: ----------------------- Class numbu: --

Section: ----- Schedule:--------------- Date: -----

Skill-building Activities
Enumeration
1. Enumerate in order the Entrepreneurial Process.

2. What are the 3 groups a new venture team should have?

Identification

______ 1. It is a group of companies or firms that focuses on producing or offering the

similar producUservice type.

______2. How many pages a typical business should have.

------3. It is a plan for how the firm creates, delivers, and captures value for its
stakeholders.

------: 4. It describes as the overall health of the financial structure.

------5. This study will help determine if the business will provide income or not.

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 Course Code: ITE 351 � New Venture Creation
PHINMr\ EDUC1\l ION Module #5 STUDENT ACTIVITY SHEET

Name: ---------
Section: Schedule: _______________
C1r,1r_, :., r,um' ,er
Da,�.

Check for Understanding

If you are to start a new venture, from whom would get your finance? Explain why.

C. LESSON WRAP-UP
FAQs
1. Do we really need to do this whole entrepreneurial process?
Actually no, the most important part in the entrepreneurial process is the business plan and the
feasibility analysis. Study shows that having these 2 greatly increases the chances of your
business to be successful.

Thinking about Learning

a) Mark your place in the work tracker which is simply a visual to help you track how much work you
have accomplished and how much work there is left to do.
Period 1 Period 2 Period 3
1 2 3 4 5 6 7 8 9 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2
0 1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6
. .
b) Think about your learning by fIllIng up "My Learning Tracker". Wnte the learning targets, scores,
learning experience for the session and deliberately plan for the next session.
Date Learning TargeUTopic Scores Action Plan
What's the What module# did you do? What were What contributed to the quality or
date What were the /earning targets? your scores your performance today? What will
today? What activities did you do? in the you do next session to maintain
activities? vour oerformance or imorove it?

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 Course Code: ITE 351 - New Venture Creation
PHINMA EDUCATION
M,\l;'NC,UVb Mnl'I. 'HkOlil.H lf1,l(Allo.>,"'i
Module #5 STUDENT ACTIVITY SHEET

Name:
Section-: --- _ _ - _ ______________
--s-=--c_h_ ed
Cla�::; number. --
----- ule : --------------- Date: -----

KEY TO CORRECTIONS
Skill Building Activities
Enumeration

1.
1. Decision to Become an Entrepreneur
a) Introduction to Entrepreneurship
2. Developing Successful Business Ideas
a) Identifying Opportunities and Generating Ideas
b) Feasibility Analysis
c) Developing an Effective Business Model
d) Industry and Competitor Analysis
e) Writing a Business Plan
3. Moving an Idea to an Entrepreneurial Firm
a) Preparing the Proper Ethical and Legal Foundation
b) Assessing a New Ventura's Financial Strength and Viability
c) Building a New-Venture Team
d) Getting Financing or Funding
2. Founder, Key Employees, Oth er Professionals.