DAILY LESSON PLAN

Date: November 26, 2018

Subject: ENTRPRENEURSHIP Subject Teacher: Misan E. Valdeviezo

CS_EP11/12ENTREP-0a- Remarks
1
SUBJECT MATTER Topic: THREE PROCESSES IN BUSINESS
(Opportunity Seeking, Screening & Seizing)

References: A Trilogy on Entrepreneurship

Materials: Laptop, Video Presentation
Value Focus: Live out the core value of “Makatao &
Makabansa”

A. Content Standards The Learner demonstrate understanding of concepts , underlying

principles, and processes in developing a business plan
B. Performance The learner independently or with his/her classmates presents an
Standard acceptable detailed business plan

C. Learning Identify the market problem to be solved or the market need to

Competency be met
D. Specific Learning  Discuss the 3S of opportunity spotting:
Objective a. Seeking
b. Screening
c. Seizing
TIME ALLOTMENT 1 hour
LESSON OUTLINE
1. Introduction  Prayer
 Checking of attendance
 Review the previous lesson
 Discuss the lesson objectives
2. Motivation 1. Why is it important to know and understand your target
market?

3. Activity Video Presentation:

https://www.youtube.com/watch?v=OWr4Ch05D_Q&t=168s

1. Group the learners into five.

2. Let the group identify the problems, needs and wants in
their locality.
3. Base on their list of problems, needs & wants each group
will list three opportunities in their locality and discuss the
method of generating ideas; why they come up with the
idea
4. Group presentation

2. Analysis 1. How do you come up with your business ideas?

2. Can you earn from this business idea?
 3. What are the many sources of opportunities which the
entrepreneur can tap?
4. If you were get into the business, what type of business would
be most attractive to you?
5. After determining the type of business most attractive to you,
how would you determine the micro market, the market
industry, and the macro environment of the business?

LESSON PROPER
3. Abstraction 1. How much do you know about the consumers in your
chosen business that would allow you find new
opportunities which others may not have seen yet?
2. What are the three essential features that an
entrepreneur must possess to discover and get into
business?
3. Discuss the 3S of opportunity spotting

Discussion:

OPPORTUNITY SEEKING

 Entrepreneurs are innovative opportunity seekers. They

have endless curiosity to discover new or different ideas
and see whether these ideas will work in the market place.
 Entrepreneurs create value by introducing new products or
services or finding better way of making them.
 These may include innovation in terms of product designs
or addition of new product features to existing ones.
 They may also tinker on improving their operational
capability by employing new technologies that will bring
them greater efficiency and better economies.

Essential to an entrepreneur’s opportunity seeking are the:

1. Entrepreneurial Mind Frame

2. Entrepreneurial Heart Flame, and
3. Entrepreneurial Gut Game

 Entrepreneurial Mind Frame allows the entrepreneur to see

things in a very positive and optimistic light in the midst of crisis
or difficult situations.
 Entrepreneurial Heart Flame is driven by passion, they are
drawn to find fulfillment in the act and the act of process
discovery.
 Entrepreneurial Gut Game is the final ingredient. This refers to
the ability of the entrepreneur to sense without using the five
senses. This is also known as intuition.

OPPORTUNITY SCREENING

Opportunity Screening is perhaps the most rigorous and yet, most

important part of an opportunity-driven entrepreneurship. It takes
a lot of time, effort and knowledge to discern which among the
potential opportunities uncovered would be the one worth
investing on or at least narrowing down the list to the few
promising ones.
The Personal Screen

It refers to the entrepreneur’s assessment of himself/herself in

terms of preferences and capabilities.

The entrepreneur could ask three basic questions:

1. Do I have the drive to pursue this business opportunity to

the end?
2. Will I spend all my time, effort and money to make the
business work?
3. Will I sacrifice my existing lifestyle, endure emotional
hardship and forego my usual comforts to succeed in this
business?

If you answered “NO” to any of the three questions, then maybe

the opportunity is not for you. You should move on to another
opportunity that better suits your interests.

But if you answered “YES” to all, then you could start to seriously
consider the opportunity. By considering the opportunity means
going through the more rigorous process of using the 12 R’s of
Opportunity Screening. Some of these screens would prove to be
more important than others.

The 12 Rs of Opportunity Screening

1. Relevance to Vision, Mission and Objectives of the

Entrepreneur: Will the opportunity bring the entrepreneur closer
to his or her long-term goal?

2. Resonance to Values: Does the opportunity ring true to the

value system of the entrepreneur?

3. Reinforcement of Entrepreneurial Interests: Does the

opportunity strengthen whatever enterprise strategies, products
and market the entrepreneur already has?

4. Revenues: What are the revenue or sales potential of the

opportunity? Are they large enough to make it worth the while of
the entrepreneur?

5. Responsiveness to Customer Needs and Wants: Does the

opportunity answer to actual or related need or want of the
envisioned customer?

6. Reach: Will the opportunity allow the enterprise to have a wide

market reach or expansive geographic coverage?

7. Range: Will the opportunity allow the entrepreneur to come up

with a wide range of products and services that would
exponentially expand the market?

8. Revolutionary Impact: For the entrepreneurial game changers,

will the opportunity create a revolutionary change in the industry,
thus making old products obsolete?
9. Returns: Does the opportunity promise to leave a substantial
profit or return on investment?

10. Relative Ease of Implementation: Is the opportunity relatively

easy for the entrepreneur to do but harder for others to engage
in?

11. Resources Required: Will the opportunity require massive

resources or can it be pursued with very little investment? Many
start-up entrepreneurs do not have huge resources to invest and
this may pose an obstacle.

12. Risks: What are the risks involved in the opportunity? What
are the market, technological, financial and legal risks?

OPPORTUNITY SEIZING

After Opportunity Seeking and Screening, the entrepreneur is

ready for Opportunity Seizing, the final stage. By now, the
entrepreneur has an idea as to where he or she will locate the
business and how he or she will market the product or service. At
this stage, the entrepreneur must be able to determine the critical
success factors that enable other players in the same industry to
succeed while, at the same time, be vigilant about those factors
that cause these businesses to fail.

Will I be able to manage to my advantage, the critical success

factors and avoid critical failure factors?

If YES, then seize the opportunity.

Process of opportunity seizing

1. Crafting a positioning statement.
 The entrepreneur is advised to look at other
competitors in the marketplace.
 Customer profiling will come into picture.
2. Conceptualizing the product or service offering.
 It is an idealized abstraction of the product or
service to be offered to the preferred market of
the entrepreneur.
3. Designing, prototyping, and testing the product
 The entrepreneur must render the concept and
translate it into its very physical and very real
dimensions.
 Be ready for the actual testing by the entrepreneur
and then, later on, subject to testing by potential
customers through FGD, surveys, product demo
sessions, etc.
 Assess how much resources are available.
4. Implementing, Organizing and Financing
 Choose correct technology
 Choose the right people
 Design the operating work flow
 Specify the systems and procedures
  Design the organizational architecture

4. Application Do an opportunity spotting in your own locality or barangay,

identify the potential opportunities from the macro environmental
and micro environmental sources.

5. Assessment Discuss briefly the following: (5pts. Each)

1. Opportunity Seeking
2. Opportunity Screening
3. Opportunity Seizing

6. Assignment Research on the following:

1. Opportunity Screening Matrix
2. Competitor Analysis

REMARKS: PROCEED TO THE NEXT LESSON CONTINUE THE

ACTIVITY/LESSON
REFLECTION: