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Entrep Module 3

The document discusses potential business opportunities to address community needs in the areas of face masks and high electricity bills. For face masks, an opportunity exists to start a business making and selling washable, customized fabric face masks. The target market would be the entire local community. For high electricity bills, a solar power supply business could be started, offering solar energy equipment on an installment basis. This would allow people to invest in a more efficient long-term energy source instead of paying increasing utility bills. An action plan is provided outlining goals, tasks, timeline, resources needed and assessment.

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Mariam Gamos
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6K views

Entrep Module 3

The document discusses potential business opportunities to address community needs in the areas of face masks and high electricity bills. For face masks, an opportunity exists to start a business making and selling washable, customized fabric face masks. The target market would be the entire local community. For high electricity bills, a solar power supply business could be started, offering solar energy equipment on an installment basis. This would allow people to invest in a more efficient long-term energy source instead of paying increasing utility bills. An action plan is provided outlining goals, tasks, timeline, resources needed and assessment.

Uploaded by

Mariam Gamos
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Subject: Entrepreneurship

Quarter 3 – Module 3: The Possible Product/s or Service/s that will Meet the Need

Task 4
DIRECTIONS: Determine whether the statement is TRUE or FALSE. Write TRUE if the
statement is correct and write FALSE if otherwise. Write your answer on your notebook.
FALSE 1. Products do not carry an element of service.
TRUE 2. Service is the result of the application of skills and expertise towards an
identified need.
TRUE 3. A service isn't something you can try out before you pay for it.
FALSE 4. All products are countable, touchable, and visible, a consumer can assess its
durability by examining it.
TRUE 5. Products are tangible and discernible items that the organization produces.
TRUE 6. Products and services can both be perishable.
FALSE 7. Service is associated with physical items.
FALSE 8. A product is an offering that derives value from intangible elements.
TRUE 9. A product may be capable of being reused for a certain time.
FALSE 10. Service has no connection with the sale of products.

Task 6
DIRECTION: Do what are asked. Write your answer on your notebook.
1. In a particular locality, there is a shortage of face mask. The residents of the place
and the healthcare front liners continue to accommodate the unprecedented
challenge of the coronavirus outbreak. Many of the settlers do not have adequate
protection against the pandemic. As an entrepreneur, what do you think will be a
potential business that could address the need? Who will be your target market?

As an entrepreneur, I would start a business by creating a thick fabric


washable face mask with customized designs and sell it to the particular locality. If
the business will grow, I will hire more tailors and even artist to design in order to
cater the shortage of face masks. If the business won’t click, then I think it would be
better to create connections with face masks suppliers and begin to resell the said
masks. My target market is everyone.

2. People lament about the high rate of electric bill. You always hear them cry
regarding this problem because it does not give justice to the consummation. Being
an entrepreneur, what do you think will be the potential business that could
address the need? What plan of action will you make in order for you to realize
your business? Use the template below for your plan of action.
Business Action Plan
GOAL

(Write your goal statement here)

My goal is to start a solar power energy business, materials and equipment supplier. Since it
is expensive, I will offer an installment basis. With this, people will invest in a costly but long
lasting and efficient energy source instead of paying high rate electric bill which will only
increase/rise sooner or later.

Actions To Be Persons Involved Date To Date Due Resources Needed


Done Begin

 Must have a  The Target April 16, April 16,  Financial


huge capital Market 2021 2022 Resources (the
to buy  The Workers money to start the
necessary  The Engineers business)
materials  The  Human Resources
and Salespersons (the people that
equipment  The People in will make the
 Must have a the Company business work)
license to  Educational
operate Resources (the
 Hire knowledge to
workers and start the business
ensure their and make it grow)
safety  Physical
 Plan target Resources
market and (materials,
how to equipment,
advertise location,
 Create necessary things)
business  Emotional
partners Resources
 Business (support system)
location
ASSESSMENT
1. B 6. A 11. A
2. B 7. B 12. D
3. D 8. A 13. A
4. C 9. A 14. D
5. E 10. B 15. A

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