LEARNING COMPETENCY

• After going through this module, you are expected to:

• 1. Explain the process of recognizing opportunities.
• 2.Explain the important factors in opportunity recognition.
• 3.Discuss the different careers in entrepreneurship.
Activity 1
Direction: Please answer each of the following questions as honestly as possible. This is not a test. This
survey is for your personal information.
5- Strongly Agree 4- Moderate Agree 3- Somewhat Agree
2- Moderate Agree 1- Strongly Agree

____1. I am willing to work 50 hours or more per week regularly.

____2. My family will support my going into business.
____3. I am willing to accept both financial and career risks when necessary.
____4. I don’t need all the fringe benefits provided by conventional employment.
____5. I would like to take full responsibility for the successes and failures of my business.
____6. I would experience more financial success by operating my own business.
____7. I feel a great deal of pride when I complete a project successfully.
____8. I have a high energy level that can be maintained over a long time.
____9. I enjoy controlling my own work assignments & making all decisions affecting my work.
____10. I believe that I am primarily responsible for my own successes and failures.
____11. I have a strong desire to achieve positive results even when it requires a great deal
of additional effort.
____12. I have a good understanding of how to manage a business.
____13. I can function in ambiguous situations.
____14. One or both of my parents were entrepreneur.
____15. I believe that my abilities and skills are greater than those of most of my coworkers.
____16. People trust me and consider me honest and reliable.
____17. I always try to complete every project I start, regardless of obstacles and difficulties.
____18. I am willing to do something even when other people laugh or belittle me for doing
it.
____19. I can make decisions quickly.
____20. I have a good network of friends, professionals, and business acquantances.
• According to Cambridge Dictionary, an opportunity is “a situation or
occasion that makes it possible to do something that you want to do.”

• There are three elements in this example in this simple definition. First, you
want to do something, in this case you want to establish your own business
enterprise. Second, there are conditions for the realizations of the
objective. Third, you must make decisions or take action on these
conditions to realize your object.
• From a business perspective, an opportunity is ‘an exploitable set of circumstances with
uncertain outcome requiring a commitment of resources and involving exposure to risk’
(www.business dictionary .com). This definition

An OPPURTUNITY can only be considered as a possibility of realizing

your objective since they are elements of uncertainties in its realization. Thus,
the entrepreneur must take action to achieve his objectives. This decision will
require resources including time for the individual and his acceptance of the
risks because of uncertainties.
OPPURTUNITY RECOGNITION often entails phases that potential entrepreneurs take before
introducing a product or service to the market.

THE FIVE STAGES OF OPPURTUNITY RECOGNITION, ( according to Hills, Shrader, & Lumpkin)

1. Precondition= A preparatory stage, during which the individual assesses his knowledge to
the market.
2. Conception= This is the gestation phase, during which entrepreneurial intentions and ideas
are generated, using logic, creative thinking, or both.
3. Visioning= This third stage provides the individual a hunch that can serve as an opportunity
for business.
4. Assessment= This stage involves the evaluation on whether the idea can be realized or not.
Aside from the resources needed and the technology to be used, the paramount question to
the individual whether the idea can really be actualized.
5. Realization= The last phase suggests the production of a prototype. This is the stage when
the mental construct or idea is now felt in its tangible or physical form.
ACTIVITY 2.Identify Me?
Direction:

__________1. This is the gestation phase, during which entrepreneurial intentions and
ideas are generated, using logic, creative thinking, or both.
__________2. This stage involves the evaluation on whether the idea can be realized
or not. Aside from the resources needed and the technology to be used, the
paramount question to the individual is whether the idea can really be actualized.
__________3. A preparatory stage, during which the individual assesses his
knowledge to the market.
__________4. The last phase suggests the production of a prototype. This is the stage
when the mental construct or idea is now felt in its tangible or physical form.
__________5. This stage provides the individual a hunch that can serve as an
opportunity for business.
Factors in Opportunity Recognition
A framework on recognizing opportunities crafted by Hisrich, Peter, and Shepherd
(2010), prove some of the key factors in opportunity recognition. According to them, a
successful recognition of business opportunities is influenced by:
Three major factors:
• 1. Market Awareness (prior knowledge of the market) refers to personal exposure to
market and its components including customers and suppliers. Information on the
market, in turn can be acquired from formal training.
• 2. Enterpreneurial readiness (entrepreneurial alertness) refers to a variety of
features of an individual to start a business venture. It covers all types of resources
that the individual possesses including financial physical and human resources
• 3. Connections (networks) this is the last factor wherein the business opportunity
recognition is heightened when the individual has a diversity of networks.
WHAT KIND OF EDUCATION DO I KNOW
Several collages offer traditional on campus and online degrees in entrepreneurship
including Bachelor’s Master’s, and doctoral degrees. Student can specialize in an area such as
industrial management, establishing new ventures and arranging finance, international
business management, strategy development. Marketing venture capital, mergers and
acquisitions and technological innovation. The core curriculum includes subjects such as
microeconomics, entrepreneurship theory, economics of technological change and
organizational theory.

WHAT ARE THE DIFFERENT CAREERS IN ENTREPRENEURSHIP?

The field of entrepreneurship presents unique opportunities, each with its individual
challenges and benefits. A career entrepreneurship can be made in virtually any field,
depending on your interest. Entrepreneurship graduates can find a work as commercial
bankers, franchise operators, research and development executives and business
consultants. Most entrepreneurs, however, remain self-employed, preferring to be their
own bosses. Over the recent years, opportunities have also been growing in IT and
engineering, presenting a varied set of growing prospects to entrepreneurship majors.
HOW LONG DOES IT TAKE TO START A CAREER IN ENTREPRENEURSHIP
The amount of time it takes to make it as an entrepreneur depends on the field you choose to
venture into. Since entrepreneurs can exist in any sector of the economy, there is a vast and almost
never-ending list of paths to choose from. Therefore, you cannot define a single timeframe for
careers in entrepreneurship.

WHAT ARE THE REQUIREMENTS FOR A CAREER IN ENTREPRENEURSHIP?

The first thing you need to do is find the right business idea and get education according to it.
You will then need to make a business plan and define your target market. Once you have
established these, you should start networking and selling your idea into your targeted market.

HOW MUCH CAN I MAKE WITH A CAREER IN ENTREPRENEURSHIP?

The salary figures for entrepreneurs vary according to the field they venture into and how well
their idea sells in the market. If your idea is unique and useful, you might end up making a lot of
money.
PROPER CAREER TITLES 21st CENTURY ENTERPRISE

1. CHIEF EXECUTIVE OFFICER (CEO) - is the highest-ranking executive in a company,

whose primary responsibilities include making major corporate decisions, managing
the overall operations and resources of a company, acting as the main point of
communication between the board of directors (the board) and corporate operations
and being the public face of the company.

2. CHIEF OPERATING OFFICER (COO) - is a senior executive tasked with overseeing the day-to-
day administrative and operational functions of a business. The COO typically reports directly
to the chief executive officer (CEO) and is second in the chain of command. In some
corporations, the COO is known by other terms, such as "executive vice president of
operations," "chief operations officer," or "operations director."

3. ADVERTISING SALES AGENT - sells advertising space to businesses and individuals.

They will contact potential clients, make sales presentations, maintain client
accounts, and often work under pressure to meet sales quotas.
4. PROJECT MANAGER is the person responsible for leading a project from its inception
to execution. This includes planning, execution and managing the people, resources,
and scope of the project.

5. OPERATIONS MANAGER is key part of a management team and oversees high-level HR

duties, such as attracting talent and setting training standards and hiring procedures.
They also analyze and improve organizational processes, and work to improve quality,
productivity, and efficiency.

6. MARKETING STRATEGIST analyzes data to determine the best way to allocate resources

to grow revenue and profits; someone who is responsible for the implementation of
marketing strategies.
JOB OPPORTUNITIES FOR ENTREPRENUERS

A. Business Consultant, or Business Adviser

=provides expert advice, analysis, and solutions.
=they enable new and existing businesses to develop and expand
=their duties include developing business plans, advising on financial matters and
identifying areas for growth within a company.
=people who can go to a client site, identify the problems, and fix them.

B. Sales Manager
=someone who manage accounts and follow-up on lack of a company.
= the one leading the team.
=the person that conducts the company's revenue engine.
=hire and motivate high-performing sales teams, and lead them to generate leads, hit or
exceed revenue forecasts, and ultimately meet customer needs.

C. Research and Development Director

=someone who understands business concepts, systems, procedures, and practices.
= is responsible for directing and overseeing all discovery and development projects.
=S/he also plays a role in mentoring and developing R&D staff, in resource allocation and
R&D decision making.
D. Fundraiser
=someone who raises money for a specific purpose
=motivate and facilitate supporters to maximize the funds they raise.
=inspire new supporters to raise money, while maintaining and developing relationships with
existing supporters
=organize traditional activities, such as sponsored outdoor events and house-tohouse
collections of donated goods and money.

E. Teacher
= is a person who provides education for pupils and students. The role of teacher is often
formal and ongoing, carried out at a school or other place of formal education.
=Teachers may use a lesson plan to facilitate student learning, providing a course of study
which is called the curriculum.
= someone who inspire students how to increase their entrepreneurial intention.

F. Talent Recruiter
=someone whose job is on recruiting people to an organization.
= are one of the most important positions in every Talent Acquisition team.
= are responsible for finding, attracting, and hiring new employees to fill open positions and
meet company's workforce needs and goals.
= They are generally responsible for the full life cycle of the recruiting process.
=This entails sourcing and screening candidates, coordinating the interview process, and
facilitating offers and employment negotiations, all while ensuring candidates have a pleasant
experience.
 = They are generally responsible for the full life cycle of the recruiting process.
=This entails sourcing and screening candidates, coordinating the interview process, and
facilitating offers and employment negotiations, all while ensuring candidates have a
pleasant experience.

G. Business Reporter
=someone who can write articles about business matters.
= gather and analyze facts with regards to events that are newsworthy.
=They collect information through investigation, research, observation, or interview.
Generally, they write and report stories for news magazines, television, newspaper, or radio.

H. Business Creators
=are entrepreneurial people whose primary role is in creating new business via creating
new startups or scaling growing companies, having significant and direct stake in the actual
business success.
 ACTIVITY 3:Where do i belong?
Direction: Carefully read the following sentences and choose the letter of the correct answer. Write your answer in a separate sheet of
paper. LETTER ONLY!
A.Business Consultant, or Business Adviser E. Teacher

B.Sales Manager F.Talent Recruiter

C.Research and Development Director J.Business Reporter

D.Fundraiser H.Business Creators

___1.The one leading the team

___2. Responsible for directing and overseeing all discovery and development projects.
___3.Someone who raises money for a specific purpose.
___4.Provides expert advice, analysis, and solutions.
___5.Someone who inspire students how to increase their entrepreneurial intention.
them.
___6.Someone whose job is on recruiting people to an organization
___7.Gather and analyze facts with regards to events that are newsworthy.
entrepreneurial people whose primary role is in creating new business via
creating new startups or scaling growing companies, having significant and direct
stake in the actual business success.
___8.Someone who understands business concepts, systems, procedures, and practices
___9.Hire and motivate high-performing sales teams, and lead them to generate leads,
hit or exceed revenue forecasts, and ultimately meet customer needs.
___10.People who can go to a client site, identify the problems, and fix
someone who inspire students how to increase their entrepreneurial intention.
Quiz, Directions: Carefully read the following questions and choose the letter of the best answer.
Write your answer in a separate sheet of paper.

1. Which of the following is called a situation or occasion that makes it possible to do something that
you want to do?
A. Opportunist B. Opportunity C. Optimism D. Opportune
2. Which is called the gestation phase of the stages of opportunity recognition?
A. Conception B. Precondition C. Realization D. Assessment
3. What do you call the last phase of the stages of opportunity recognition that suggests the
production of a prototype?
A. Conception B. Precondition C. Realization D. Assessment
4. Given are the factors in opportunity recognition EXCEPT one.
A. Connections B. Market awareness C. Entrepreneurial Readiness D. Opportunity
5. Which of the following choices is the third stage of opportunity recognition provides the individual
a hunch that can serve as an opportunity for business?
A. Conception B. Visioning C. Realization D. Assessment
6. Which is called an exploitable set of circumstances with uncertain outcome requiring a
commitment of resources and involving exposure to risk?
A. Opportunity B. Precondition C. Realization D. Assessment
7. What do you call the highest-ranking executive in a company?
A. Advertising sales agent B. Sales Manger
C. Chief executive officer (CEO) D. Chief Operating officer
8.. What do you call a person that someone who manage accounts and follow-up on lack of a
company?
A. Sales Manager B. Business Consultant C. Advertising Sales Agent D. Project Manager
9. Who is called the person responsible for leading a project from its inception to execution?
A. Sales Manager B. Business Consultant C. Advertising Sales Agent D. Project Manager

10. What do you call someone whose job is on recruiting people to an organization?
A. Talent Recruiter B. Project Manager C. Business Reporte D. Sales Manager
11. What do you call a person that someone who inspire students how to increase their
entrepreneurial intention?
A. Talent Recruiter B. Teacher C. Business Reporter D. Sales Manager
12. What do you call a person who can write articles about business matters?
A. Business Consultant B. Project Manager C. Business Reporter D. Sales Manager
13. Which of the following choices refers to personal exposure to market and its
components including customers and suppliers?
A. Market Awareness B. Connections C. Entrepreneurial Readiness D. Opportunity
14. Who is responsible for directing and overseeing all discovery and development
projects.?
A. Project Manager B. Sales Manager
C. Business Reporter D. Research and Development Director
15. What do you call the one who gather and analyze facts with regards to events that
are newsworthy?
A. Project Manager B. Sales Manager
C. Business Reporter D. Research and Development Director