Unit 3: Business Opportunity Seeking, Screening, and Seizing

Lesson 4
Opportunity Seizing: Business
Position Statement

Entrepreneurship
Senior High School Applied - Academic
How is opportunity
seizing done?

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Learning
Propose solutions in terms of
Objective
product/s and service/s that will
At the end of the meet the need using techniques
lesson, you should be on seizing opportunities.
able to do the
following:

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1. How does a feasibility study help in the
opportunity seizing phase of
entrepreneurship?
2. How will the opportunity seeking and
screening stages help the entrepreneur in
opportunity seizing?
3. What qualities must an entrepreneur have
when seizing opportunities?
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 Opportunity Seizing
The stage of determining
the critical success
factors of succeeding in
the industry, while also
being cautious about
other factors that cause
failure to some
businesses.
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 Objectives of Opportunity Seizing

Given that opportunity seizing is the final stage of

choosing the most feasibility opportunity, it’s relevance
in entrepreneurship dwells on two main objectives:

1. to enable the entrepreneur to transform his business

opportunity into a reality, and
2. to address the compelling needs or demands of the
market.
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 What are the secrets to opportunity seizing?

1. Stepping out of the comfort zone

2. Make the small ones count
3. Network with creative and business-minded
people

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 Business Position Statement

A business position statement refers to a brief

description of a product or service catered by
the business and specifically how such a
product or service answers the compelling
need of the target market.
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 Business Position Statement

It’s main purpose is to introduce the product or

service to the customers and to align the
branding efforts with the brand and its value
proposition.

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Remember

A business position statement

refers to a brief description of a
product or service catered by the
business and specifically how
such product or service answers
the compelling need of the target
market
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Value Proposition vs. Business Position Statement

A value proposition is broader in nature and is

a direct output of a business strategy. It refers
to a bigger picture which includes all the core
benefits offered to various market segments
and the price that a customer pays to acquire
those benefits.
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Value Proposition vs. Business Position Statement

A business position statement is more

specific and technically deals with a subset of
the value proposition. It is oftentimes used in
marketing programs and activities of the
entrepreneur.

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 Writing a Business Position Statement

1. Keep it short.
A business position statement is not about the
vision and mission of an enterprise. Therefore,
such statements should be concise and
straightforward.
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 Writing a Business Position Statement

2. Make it unique and remarkable.

If the entrepreneur wants to stand out in the
industry, the business position statement
should be crafted in a unique way.

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 Writing a Business Position Statement

3. Stick to the core values of the business.

A business position statement must reflect the
primordial values of the enterprise itself.

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 Writing a Business Position Statement

4. Show how the business is different from other

competitors.
The competition will always be present in any industry.
As such, an effective business position statement should
point out what separates the business from its main
competitors.

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Tip
The following is a sample format in crafting a
business position statement:

“For [state the target market] who [the needs

of the target market], [business or brand
name] provides [what differentiates the
business from other competitors] because
[why should the target market believe in the
business..]”
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Example: Crafting a Business Position Statement

Situationer:

An entrepreneur is planning to put-up an

online marketplace (ABC) that caters to a wide
range of consumer products with delivery
services. Following the template, here is a
sample position statement for his business:

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Example: Crafting a Business Position Statement

“For consumers who want to purchase different

products online with competent delivery services,
ABC provides a fully-functional online shopping
site. ABC sets itself apart from other online
retailers with its basic mission: a commitment to
operational excellence to all its valued
consumers.”

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 Activity

Give at least five means or approaches you can

suggest in seizing business opportunities.

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 Questions
Part A. Answer the following questions based on
your understanding of the lesson:

1. How would you define the concept of

opportunity seizing?
2. What is the relevance of opportunity seizing in
entrepreneurship?
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 Questions
3. What are the differences between
opportunity screening and opportunity
seizing?
4. How would you define a value proposition?
5. What is the relevance of having a business
position statement?
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 Questions
Part B. Answer the following questions based
on your understanding of the lesson:

1. How is opportunity seizing interrelated to

entrepreneurship?
2. Give at least three reasons why every
business should have a position statement.
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 Questions

3. What is your opinion towards “branding

through the creation of a position statement?”
4. What will you suggest in order to have an
impactful business position statement?
5. Summarize the differences between a value
proposition and a business position statement.
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 Wrap Up

Opportunity seizing pertains to the stage of

determining the critical success factors of
succeeding in the industry, while also being
cautious about other factors that cause failure to
some businesses.

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 Wrap Up

A business position statement refers to a brief

description of a product or service catered by the
business and specifically how such a product or
service answers the compelling need of the
target market.

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Wrap Up

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 Bibliography

Dollingner, Marc. Entrepreneurship: Strategies and Resources 3rd Edition. New Jersey: Prentice
Hall, 2003.

Janiszewska, Karolina, and Andrea Insch. “The Strategic Importance of Brand Positioning in the Place
Brand Concept .” Journal of International Studies, May 2012.

Kotler, Philip & Gordon McDougall. Marketing Essentials. Prentice-Hall Canada Inc., 1985.

Kuratko, Donald. Entrepreneurship: Theory, Process, and Practice. Taguig: Cengage, 2017.

Peters, Michael & Robert Hisrich. Entrepreneurship 4th Edition. McGraw-Hill Book Co.,
1999.

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