Lesson 1
Lesson 1
Lesson 1
Entrepreneurship
Entrepreneurship is the process
of designing, launching, and
running a new business which is
often initially a small business.
The people who create these
businesses are called
entrepreneurs.
Entrepreneurship
It is a firm that operates and
implements a combination of new
activities such as product
development, marketing, resources
for raw materials, manufacturing
approach, and new organizational
structures. (Schumpeter 1934 and
Dollinger (1995)
Employment
- It is an activity in
which one is engaged or
employed
- The extent or degree
to which a labor force is
employed
Let’s Compare!
Employee Entrepreneur
Marketing Director
• Responsible for the marketing and
communications strategy of the company
• Overall branding and image
• Creates the calendar of campaigns and events
• Creates the virtual store, print ads
Duties and Responsibilities of the Members
Production Director
• Ensures the productivity of the company is
optimized
• Overseeing the workforce in the production
department
Duties and Responsibilities of the Members
Production Director
• Purchase all the necessary supplies and raw
materials needed for the mass production
• Report on the quality of the product and status
on the number of productions
Duties and Responsibilities of the Members
Public Relations
• Source out quality suppliers, connections,
linkage, community partners (CSR)
• Collect customers’ feedback
• Ensure costumers satisfaction
Duties and Responsibilities of the Members
Public Relations
• Create media that will shape public opinions of
the company
• Increase awareness of the brand
Duties and Responsibilities of the Members
Finance Department
• Handle the money well including the incoming
and outgoing cash flow
• Report about the expenses growth
• Should prepare a financial report
Duties and Responsibilities of the Members
Business Plan
• Promoting a company’s products or
services is really important and must be
conceptualized properly.
• The elements of design must be
presented in a unique and special way.
• The business logo should create a
lasting positive impression on the
customers.
Types of Logo
Business Plan
TYPES OF LOGO
WORDMARKS
❑ - are free standing word or multi-
letter abbreviation groupings
comprising a logo also known as
logotypes
❑ - it is focused on the brand’s name
Wordmarks
TYPES OF LOGO
LETTERFORM
❑ - logos are comprised of a single
letter
Letterform
TYPES OF LOGO
PICTORIAL
❑ - logos are illustrated symbols of
recognizable things
Pictorial
REMEMBER!!!
● Your logo - from the color of the shape - should
provide an immediate sense of what your
company is all about.
● Color choice is incredibly important. Choose a
color that your biggest competitors do not use in
their logos.
Lesson 5: Market
Research
Identifying Logical and
Personal Needs
Consumer purchase products and
services motivated by both logical and
personal needs.
3. Observation Technique
4. Survey Research
Survey Research
Survey Research
You have to know the characteristics of the
person or company that is likely to purchase a
product or service through a Customer Profiling.
This helps you understand what you need to do to
meet customer’s demand.
10/3/2024 MARKET RESEARCH 8
Demographics
Personal information
• Age
• Gender
• Income
• Education
•
10/3/2024
Nationality MARKET RESEARCH 9
Demographics
1. Motivations
2. Behavior
3. Social Classes/Reference Groups
Offers completely
new performance
benefits
Types of Product
2. Differentiated
It tries to claim a new
space in the mind of the
costumer different from the
spaces occupied by the
existing products.
Types of Product
3. Copycat
It doesnt make much
impression on the
consumers’ mind
Types of Product
4. Niche
They are products with
lower reach, lower visibility,
lower prices and lower top of
mind
2. Price
Prices could be set at a
PREMIUM to project a quality
image and to distance the
product from its inferior
competitors. The idea is to
attract customers who are
willing to pay extra for the
quality service.
Quantity is used to illustrate the total
amount of goods or services that are
required at any given time and place.
c. To sustain an establised
business
Advertising The proper way of
creating an advertising
is to evaluate the
products, services,
competitors and
customers.
4. Packaging
Purpose of Packaging
- It identifies the product, describes its
features and benefits and complies with
government rules.
- It differentiates the product from its
competitors and even from its other brand
offering.
Purpose of Packaging
- It lengthens the lifespan, physically
protects and extends the usefulness of the
product.
- It has become an environmental issue by
itself.
The aforementioned purposes of packaging
have increased the cost of packaging.
VIII.
Financial Forecast
and Expected
Returns
❖Financial Forecasting :
-is rendering into numbers of the
assumptions that entrepreneurs make of
the following:
a. how their sales will move
b. how costs will behave
c. what kind of profit they will attain
d. what assets they will require, and
e. how they will finance those assets
Important!!
❖ To examine the critical variables
that affect the industry and business
that one is in.
❖ Assess how these variables will
behave
Important!!
❖ Critical variables that have affected
the business in the past and the
present will not change significantly
in the future.
Important!!
❖ Assume that the environment or market
we operate in will, more or less, move
along the trends, cycles, and patterns
we saw in the past and continue to see
at present, then we must input these
things into the forecast
Financial Statements
❖ It is a formal record of the financial
activities of an entity.
Year2: 2015
Compute for Sales: