LESSON TITLE: PRINCIPLES AND STRATEGIES ON

INDENTIFYING BUSINESS OPPORTUNITIES

_______________________________________________________

Name of Teacher –Writer: GERALDINE M. SABUGO

School: SINAIT NATIONAL HIGH SCHOOL

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 This Self Learning Kit is an innovative tool produced by the Department of
Education Division of Ilocos Sur to meet the standards of the K-12 Curriculum in
providing our teachers and learners relevant and utilized localization content
especially for grade 7 and 8 students. The competencies are based on the
Department of Education’s K to 12 Curriculum.

This Self Learning Kit is designed for the convenient use of students and
teachers and serves as an arm for learners with updated knowledge, skills and
values needed to compete and survive in an increasingly entrepreneurial local-global
environment. In this module you’re going to learn the different Principles and
Strategies on Identifying Business Opportunities the helps you in putting up your new
business venture in the near future. In here you will also learn the (10) ten strategies
you can use in the market. The learning outcomes define what must be achieved at
the end of the lesson.

At the end of the lesson, you are expected to:

1. Identify the different Principles of entrepreneurship
2. Determine the different strategies in entrepreneurship
3. Appreciate the importance of entrepreneurship

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 Sit and relax. Close your eyes and visualize yourselves as a

grown person. Imagine your life as you would like it to be 10

years from now when you are grown up and out of school.
You parents/relatives will serve as their teacher for the
meantime, you as students will listen carefully to what your
DIRECTIONS: Identify the following pictures of successful entrepreneurs in the
country. You can also ask your parents/relatives to help you answering this activity.
You write your answer in a separate sheet of paper or in your notebook.

Activity Proper (Guess who?)

1. 2. 3.

4. 5.

After reading and understanding the lesson you will realize

the importance of entrepreneurship in your daily life that
will help you to become a local to globally-competitive
citizen in the market. You can also develop your
knowledge, skills and values needed to compete with
others and become one of the successful Filipino
entrepreneur like the given pictures of entrepreneur above.

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 Entrepreneurship can broadly be defined as the process of designing,
launching and running a new business. A person who sets up business on taking the
financial risks in the hope of profit is termed as Entrepreneur. Entrepreneur is a
loanword from French language firstly used in 1973. Entrepreneur is an innovative or
independent business minded person, creates products and services also.
The challenging field of entrepreneurship focuses on developing and
implementing modern techniques in a business environment, to efficiently run an
organization, manage employees, develop new products and improve the overall
delivery of goods and services to customers around the world. Most of the
businesses that exist today started out as entrepreneurial activities, with ambitious
individuals capitalizing on a novel business idea they had.
Before you can start anything you must understand the principles that guides an
entrepreneur to become successful. Here are the 10 Principles of Entrepreneurship
as well as the different Marketing strategies that will serve as your basis in putting up
or building new business venture.
1. Be a Solution Provider- if you are planning to start a business, there are
bound of issues ranging from sourcing, funding to getting good partners,
building a good team, location, marketing etc. Once you are involved with
inexperienced persons, you are bound to fail as fast as you had started.
For example, as a solution provider you need to study first the problem/s you
encounter then afterwards often built a solution and developed custom
applications for your business as well as to your customers. In short you Look
for a way to make life easy for others.
2. Have a Vision- according to Jonathan Swift he said that “Vision is the art of
seeing what is invisible to others”. Have a defined purpose and pursue it.
Successful entrepreneurs are those that were able to transform their vision
into reality
3. Choose the Right Team- if you’re planning to start a business venture you
need to choose the right person in your business that will help you make your
business progressive. Good team work builds speed.
4. Viable Product/Service- your product/service fulfill a need, be innovative and
the approach, a little different from other regular businesses. Technology is an
important tool in the hand of modern entrepreneurs.
5. Capital- is the foundation of all business because you cannot be able to put
up your own business without your own money/capital. So, see to it that if
you’re planning to start a business you have your own money.
6. Accountability- you as an entrepreneur, are accountable to the success or
failure of your business, not your employees, investors or advisors. The
success of any business is, in many ways, measured by the management of
its resources. apply its basic principles with the aim of operating a flourishing
business. Accountability breeds responsibility.
7. Growth and Marketing- every successful business grew over the years.
Most big companies started small. It was all a process. That way, your
business will keep on growing, your investors will be happy to remain and
inject more funds. Always remain focused and dedicated to your goal. Have a

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 clear goal and pursue it. Marketing helps in getting your product known and
good sales come from good marketing. Without continual growth and
progress, such words as improvement, achievement, and success have no
meaning.
8. Know Your Customer- before putting up a new business establishment see
to it that you know your customers, think of what they want and their needs or
what are their preference because your customer base determines the life of
your business. In business, the higher your customers, the higher the profit.
Always map out strategies that will allow for customer feedback even if it
means giving out discounts/vouchers in exchange. Always treat your
customers as special guests.
9. Priorities- if you want to achieve success in business, you must categorize
things in order of importance. You need to set your priorities based on your
goals. Your target should always be defined. Things which matters most must
never be at the mercy of things which matter least.
10. Never Give Up- this attitude is one quality an entrepreneur must possess.
Because successful entrepreneurs are goal-getters. They never give up on
turning their vision into reality, quitting too soon is the biggest reason why
many businesses failed. If you do not persevere, enquire, research, fail and
try again, you might not be successful in business. If you persist, you will have
no choice than to succeed. In entrepreneurship, persistence and
determination is supreme.

Marketing Strategies
Marketing strategy is a consistent, appropriate and feasible set of principles
through which a particular enterprise hopes to attain its long-run customer and
profit objectives in a particular competitive market. Furthermore, marketing
strategies are tools of achieving the goals of the enterprise. This is consisting
of: a) Product Strategy, b) Price Strategy, c) Promotion Strategy and d) Pricing
Strategy.
a) Product strategy- starts from introduction to growth and maturity and finally
decline.
b) Price strategy- help in the conversion of product and services into money. In
business the apparent objective of pricing is to maximize profit. This is possible in
monopoly and oligopoly.
There are also several pricing strategies, the first one is:
1. Prestige pricing strategy- A very high price is set to project an aura of quality
and status.
For example, if your product is branded or comes from other countries and the
stock is high cost then you need to sell your products in higher price.
2. Penetration pricing strategy- A very low price for a new product is offered. The
objective is to develop a large market for the new product as soon as
possible.
For example, if the customer knows that your product is cheaper than other
they will choose to buy your products. Simply they want to spend their money
wisely.

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c. Promotion strategy- consist of advertising and personal selling. If you want to
promote your product in the market you need to advertise. In advertising it utilizes
the media: newspaper, magazine, radio, television, billboard, mail, social media like
Facebook, Instagram, Tweeter, YouTube, Vlogs and many more while Personal
selling is done on person-to person basis with a customer.
d. Distribution Strategy- directs if producers deliver goods to the customers and
indirect if a middleman sells the goods to the final users. For example, it is cheaper
(low cost) for a producer (supplier) to deliver products directly to a large number of
buyers who are concentrated in a nearby area than in many scattered regions.

We are done discussing the principles of entrepreneurship and strategies in

entrepreneurship I hope you learned something about our lesson that will help you in
putting your business venture and become the boss of your own.

After discussing the principles of entrepreneurship and strategies

in entrepreneurship, I hope by this time your mind is already
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enlighten. Below are the different activities that you need to
answer. Accomplish your activity with honest, read and
understand them appropriately.
 I. Matching Type. Match Column A to its definition to Column B. Write the
letter of your answer in your notebook.
COLUMN A COLUMN B
1. Good products most times sell itself a. have a vision
2. Always treat your customers, special as a b. capital
special guests.
3. Never give up on turning their vision into reality. c. viable product/services
4. Capital isn’t scarce; vision is d. solution provider
5. Good team work builds speed. e. know your customer
f. choose the right team
II. Fill in the blanks.
1. ______________ is a consistent, appropriate and feasible set of principles
through which a particular enterprise hopes to attain its long-run customer
and profit objectives in a particular competitive market.
2. _____________ Uses direct messages on platforms like Instagram,
Twitter or Facebook to reach out to other successful businesses or even to
communicate with potential customers.
3. _______________ starts from introduction to growth and maturity and
finally decline.
4._______________ is done on person-to person basis with a customer.
5. ______________ help in the conversion of product and services into
money.

Difficult
DIRECTIONS: Listen carefully to your parents/relatives as your teacher. Answer the
questions without talking, just imagine.

Activity Proper (Visualize your future)

“Let us close our eyes and picture a relaxing scene and remain quiet for a few
moments.”
PAUSE
“Now you will imagine your life as you would like it to be 10 years from now when
you are grown up and out of school.”
PAUSE

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“Now it is morning and you have just awakened. What do you see?
PAUSE
“Now you go to your closet to get dressed. What do you see in your closet? What do
you choose to wear to work today.?
PAUSE
Now you are eating breakfast. What do you see?
PAUSE
You are now ready to leave for work. Where do you go? How do you get there?
PAUSE
You are now ready to leave for work. Where do you go? How do you get there?
PAUSE
Who do you see in your workplace? What are they doing?
PAUSE
What are your feelings about the work you are doing?
PAUSE
It is now lunchtime. What are you doing? How long do you take for lunch?
PAUSE
You are now at work and it is close to the end of the day? What are you doing? What
time is it?
PAUSE
Where are you going now that work is finished? How do you feel about the day?
PAUSE

1. What were my most important feelings about this day?

2. What type of work did I choose for myself? Why?
3. Did I work with people, ideas, or things?
4. Dis I use interests/hobbies/skills that I am developing now?
5. Did I work for someone else, or I was in charge of the business?

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In this lesson we define Entrepreneur as a person who sets up
business on taking the financial risks, we also discussed the
principles and strategies in entrepreneurship and they are the
following: 1) Be a Solution Provider meaning you look for a way to
make life easy for others, 2) Have a Vision means successful
entrepreneurs are those that were able to transform their vision into
reality, 3) Choose the Right Team means if you have a good team
work it builds speed, 4) Viable Product/Service means that if you
have a good products most times it sell itself because of the good
quality, 5) Capital is the foundation of all business, 6) Accountability
meaning you as the boss/ manager are the one who is accountable to
your staff, 7) Growth and Marketing means that continual growth and
progress for the improvement of the business, 8. Know Your
Customer meaning always treat your customers as special guests,
they are the life of your business, 9. Priorities things which matters
most and which matter least and 10. Never Give Up if you experience
to fail, just keep moving on remember that there is always a hope and
lastly we discussed the Marketing Strategy as a long-term, forward-
looking approach and an overall game plan of any organization or any
business. There are also four (4) strategies, first one is the product
strategy, second is the pricing, third is promotion and lastly the
distribution strategy.
After reading, understanding and analyzing the lesson, you are now
ready to become part of the successful Entrepreneur in the
Philippines and in the whole world. Life is simple, happy and easy to
handle as long as you know how to manage your daily needs.
Prioritize first your basic needs than your wants. Keep in mind that
money is the root of all evil, so be sure to spend your money wisely.

If you are given a chance to become a successful entrepreneur

in your community and put/start your own business, how are
you going to manage/handle it to grow your business? Write
also your insight about the importance of entrepreneurship in
our life.

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I. True or False: Read and analyze the following statement carefully, write
True if the statement is correct and write False if the statement is incorrect.

1. Look for a way to make life easy for others.

2. Unsuccessful entrepreneur is those that were
able to transform their vision into reality.
3. Accountability breeds responsibility.
4. Achievement and success have no meaning.
5. Things which matters most must never be at the mercy of things
II. Jumbled Letters. Arrange the following letters to form the word.
1. GNISITREVDA-___________________
2. NOITBIUTRISD-___________________
3. ENTRERPEUNER-_________________
4. LLGINES LANOSREP-______________
5. PILATCA-_________________

III. Word Search. Loop the following words inside the box, encircle your
answer using black/blue ink pen.
Entrepreneur Capital Promotion Strategy
Distribution Prestige Strategy

 Lebrudo, Ma. Luz R. Technology and Livelihood Education PNU Reviewer in

Entrepreneurship pp.125-127

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 https://thetotalentrepreneurs.com/10-principles-entrepreneurship/
 https://www.entrepreneur.com/article/299335

Review/Motivation
1. Henry Sy 11
2. Tony Tan Caktiong
3. Soccoro C. Ramos
4. Mariano Que
Word Search

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