SEMI-FINAL MODULES:

Module 1: APPRECIATION OF TECHNICAL INNOVATION

Name of student: GERILLE EUNICE M. CRUZ
Course/Year/Section: BS PSYCHOLOGY 1A SY/Semester: 2021-2022

Instructor: Dorothy Paneda Date: April 24, 2022

Objective: At the end of the session, you will be able to discuss the significance of
technologies innovation in anticipating or thinking of project ideas.

Discuss the following:

a. Some products or services which were popular or very much in use
twenty or more years ago, but which are no longer now in existence, or
which have been modified or changed to suit present condition.
- When the technology advances, what was once innovative and
groundbreaking becomes "obsolete," or "obsolete." Of
progress. Before reading the printed newspaper exclusively, the
newspaper is online, so everything is accessible online. Also,
the digital cameras used in mobile phones 20 years ago were
already calendars, alarm clocks, calculators, and so on.

b. A products or services which you think will be needed by people twenty

or more years from now. Why will such products or services be needed
in the future?
- The products may need of the people for 20 and more years from
now is the new technologies and healthy foods. Our earth right
now is in a midst of changing because of our productions we
invent, and we always use. I think the products that will be needed
are eco friendly products that help the environment and that we
sustain healthy living in those product-like clothes made from
recycled fabric, sustainable shopping bags, tumblers, LED bulb
light, etc. that may help and not that harmful for us.
c. The reasons why products or services become obsolete.
- The out of date or obsolesce quality may be a handle, item, or
innovation utilized or produced by a company for profit will gotten
to be out of date, and in this way not competitive in the
marketplace. This would decrease the benefit of the company; it is
most significant for technology-based companies or companies
with products or services based on innovative points of interest.
As famous as over, the most reason why a product got to be out of
date is that they don’t encourage to “upgrade”. and “change” of
their product because it is famous.

Enumerate and discuss ways by which entrepreneurs

can accommodate inevitable obsolescence of products
and processes like:
 Improvements to their products, plants, processes and
working methods:
- Progressing item quality is one way to suit inescapable
out of date quality and basic for accomplishing long-term
productivity and deals development. Whereas expanding
item quality is no simple errand, the rewards for doing so
outperformed the challenges. It makes a difference
construct believe along with your client and fills
proposals and referrals. Great item quality moreover
implies less complaints and returns from your clients. All
of these, affect your bottom line and empower in your
business.

b.) Finding new expertise or new technologies that will be of help:

- Maintaining a strategic distance from out-of-date quality can be
fulfilled through activities in arranging and programming; plan;
development; operations, support, and reestablishment; and retro
terminating or reuse of an office or through advancement of
technological improvement and ability. In expansion to that, we ought
to dodge it by management's potential of arranging and victory to
expect the innovation required for advancing commerce requirements.

Using the technologies, they have found in order to find new products, new
markets, new resources, etc.:

- The assets are required to form esteem for your clients.

They are considered your resources and they are required
to maintain and back your business that’s why it is one
way to spare a commerce from out-of-date quality. As
famous as over, modern items, unused markets, unused
assets are all categorized as “innovation” and it makes a
difference you remain ahead of the competition. With
globalization and a quickly changing showcase, there are
more competing businesses than ever before.

Module 2: -BUSINESS OPPORTUNITIES

Objective: Able to enumerate and discuss a wide range of business opportunities on a
local, national and international level with guest/panel speakers.

In this session, one or two entrepreneurs who are in non-traditional business (those
who are innovative, or who have business that are not yet saturated) will have to be
interviewed on:
 1. What they think are the business opportunities which most people have not yet
ventured into.
- Venture ideas are not a venture opportunity. Ideas are rarely worthwhile,
but opportunities are based on more elaborate concepts of potential future
business. Therefore, be sure to test your ideas in the environment so that
you can fill in the gaps and feel that they are accepted in the market. Those
who haven't been adventurous yet are those who haven't realized their
ideas.
2. How they come to choose said particular business.
- In what I heard they chose to be a non-traditional business visionary.
Since it's the quickest developing category of trade proprietors nowadays.
Be that as it may, they are moreover a bunch of the slightest overhauled
commerce proprietors, most of them working without an official permit or
beneath radar, so government, state, and neighborhood businesses.
Frequently ignored by improvement initiatives.
3. Why they are still in their business, what other businesses they think could be
spawned from their business.
- As they mentioned in the interview that they were also motivated by the
idea of creating something from scratch. They are also the type of
entrepreneur who builds strong ties with the organizations they create.
This can lead to the belief that only they know what is best for the
company.

In connection with the above interview, seek from any government or private agencies
responsible for business promotion who can share with a business opportunity in any
locality and what they are doing to promote said businesses.

- Both argued that word-of-mouth could be one of the most powerful ways to
bring your business to the right people. The testimonials on their website
are great, but reviews on official platforms such as Google, Facebook, and
YouTube are even better because you can watch about their platforms. We
also discussed how some government programs support the start-up,
growth, and relocation of businesses to specific regions. In a sense, local
governments, county governments, and state governments compete for
work. They do this by providing incentives for startups and taking steps to
create a "business-friendly" environment. These steps include tax credits,
worker training, free land, zoning changes, low interest loans,
infrastructure improvements and help with fast tracking licensing and
permitting.

Module 3: -Where to Site a Business

Objective: Able to identify and select a suitable site for a business
Things to do:
A. Imagine you are going to choose a location for a small store.
Describe the place you think would be the best.

In business planning all the supplies, place, financial,

and all you can be an innovative thinker. When am I the
one who chooses a place that is suitable in my small
store I will choose a place wherein a place that there are
many people but not that crowded. Just like average
people that can go in my small store and relax. A place
like an aesthetic place, just like on a beach. A beautiful
and pleasing place that can be suitable for the theme of
my small store.

1. List all the factors you would consider, among

many choices
The factors that I would consider are in the following choices to build my café.
1. Staff
2. Security
3. Accessibility
4. Competition
5. Business Rate
6. Potential growth
7. Skill base in the area
8. Market or Demand
9. Start-up Cost
10. Capital and Finance.

B. Imagine you are going to choose a location for a factory. Describe the place you think
would be the best choice.
- Choosing your location for factory is that the ideal location is where the factory
is approximately equidistant from suppliers and customers to minimize shipping
and distribution times but assumes that lead times and delivery times are equally
important.

1.List all the factors you would consider.

- The factor that I should be consider when looking for a factory location is that all
major materials and products need to be suitable for indoor use. The site should
be in good condition and on good grounds. Important workers and people must
feel comfortable with it. Finally, all the steps and processes for making a product
need to be done in the factory, so it needs to be a big place as it must be clean,
comfortable, and convenient.

State your personal note:

- When you are aspiring entrepreneur, you need to know what is in your
environment and how your business plan may do in its own and in the plan you
planned. Coffee shop is the most thing I wanted to build as my business because
it helps other people to calm and to refresh their mind. I know that my business
will help other people in their mental health. Choosing a business is choosing
other people’s feelings and perspective in life.
My business may have an aesthetic vibe and a calm atmosphere so that my
costumers may feel the calmness of the place and they can relax themselves in
the place. It is not that big, but it can be accessible to the costumers. I want it to
place in not a bigger place because it feels like there is a uncalmly feeling if it is
surrounded by many people and buildings. The design of it may be in a calmly
and pleasing in the eyes. But everything that I will starting to endorse it with my
friends until it would be known as a good coffee shop. I always dream to have a
 coffeeshop someday and I hope I can build one in the future. When this shop
begins to boom, I can start franchising store in other places and to gain a lot of
motivations in experiencing a lot in building a business.

Module 4: SELECTING OR CHOOSING A PRODUCT OR IDEA Date: April 24, 2022

Objective:
1. Able to use various tools and techniques currently available for selecting or choosing a
product or project idea.
2. Practice product or project selection using the SWOT analysis (analysis of the strength,
weaknesses, opportunities and threats of the product or project being studied.)

Discussions:

1. Discuss a story or tell an anecdote in real life when you or someone else you know had
to make a choice.

- In choosing or decisioning by yourself is hard. There is one scenario that I

experienced when I needed to make a choice between living alone or living
with my sister in Isabela. It is hard to choose because I’m torn of wanting to be
an independent person but thinking that it is my first time, and I can see that it
is hard to live alone without that much experience in life. Living in my
grandmother’s house is good for me because I have guardian and there is
someone who can watch me. Just like using the SWOT analysis may help you
to know and think out of the box in decision making. Knowing your strengths,
weaknesses, opportunities may have and the threats. Thinking my capability or
my strengths in living alone may take a lot of risk and can be my weaknesses
be more triggered and I cannot do anything in life. Taking the opportunity to
learn in life but first you need to learn them in experience and having some
guide of people. And lastly, the threats may go, and experience may fear me in
living alone. This story of mine can help me to business because I think the
situations and using the SWOT analysis.
2. Highlight the factors that you and your friend considered when you made a selection or
choice.

- Choosing what is the best and what is great for yourself is a great decision.
Building yourself first is good for you, to become what you dream for.
Highlighting the factors that I considered is when I choose to think what the
best for me is and what is the best to build yourself up. The choice that I made
is good for me and everyone. When choosing a choice, you need to think too
the people around you and not for yourself.
3. Recall the talks of the entrepreneurs whom you interviewed during the previous session.
What were the factors that they considered when they choose the product or project that
they are now involved in?

- In the previous interview I heard that the two non-traditional entrepreneurs

consider current needs, anticipate future needs depending on their
understanding of the product they want to sell or invest in, and importantly. He
also states that he is focusing. Value proposition while building the reliability
of the selected product.