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Entrepreneurship Q2 M2

Bachelor of Secondary Education (Nueva Ecija University of Science and Technology)

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SHS

Entrepreneurship
Quarter 2: Module 2

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Entrepreneurship
Grade 11/12 Quarter 2: Module 2
Edition, 2020

Copyright © 2020
La Union Schools Division
Region I

All rights reserved. No part of this module may be reproduced in any form without
written permission from the copyright owners.

Development Team of the Module

Author: Janice D. Florendo, T-I

Editor: SDO La Union, Learning Resource Quality Assurance Team

Illustrator: Ernesto F. Ramos Jr., P II

Management Team:

Atty. Donato D. Balderas, Jr.

Schools Division Superintendent

Vivian Luz S. Pagatpatan, Ph.D

Assistant Schools Division Superintendent

German E. Flora, Ph.D, CID Chief

Virgilio C. Boado, Ph.D, EPS in Charge of LRMS

Lorna O. Gaspar, EPS in Charge of ABM

Michael Jason D. Morales, PDO II

Claire P. Toluyen, Librarian I

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Target

There are questions that the proprietor/owner of the business asks himself
enormously. What products or services should he/she offer? Should he/she offer
new a product or a new service, or just a newly improved one? What would be the
factors to take into considerations to come up with a right product for the right
market? Questions that lingered into the mind of a businessman whether a new or
a well-acclaimed business tycoon.
A successful new product (or a new service) coils from the merging of the
creative mind, the technical mind, and the business mind. All the three come
together in the entrepreneurial mind.
In your previous lesson, you learned about the four M’s of operation in
relation to business opportunities. Now, let us start making the right
product/service that will suit the potential market by making its description,
prototype, and testing the prototype if it is acceptable in the marketplace.
This learning material will focus on developing a product description,
creating a prototype and the testing the prototype if it is suitable in the market.
After going through this module, you are expected to:

1. Develop a product description.

2. Create a prototype; and

3. Test the prototype. (CS_EP11/12ENTREP-oh-j-12)

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Jumpstart

Activity 1
Directions: Read the concepts about entrepreneurial mind and understand it in
relation to product development.

A successful new product comes from the convergence of the three minds
namely, the creative mind, the technical mind, and the business mind. All
three minds together comprise the entrepreneurial mind.

The creative mind conceptualizes and designs a product that consumers

find some use for. It also produces products that are pleasing to see, touch, hear,
and taste. This product also creates emotional attachment to the consumers and
sometimes becomes an important personal expression.

The technical mind is the technology originator. Although it comprises the

entrepreneurial mind, it is not necessarily be possessed by an entrepreneur, but
this drives him /her to convert new learning to become highly serviceable and
operational. The technical mind is also a technology adapter. He uses an old
learning merging it with a new one to come up with a successful human endeavor.
The technical mind is also referred to as a technology renderer. He/she resolves to
make a new product for the product creator by shaping or reshaping the technical
designs of the new product. With this, the values of being creative, resourceful,
and innovative are manifested by an entrepreneur.

The business mind connects the potential of the new product by creating a
market for them. It also manages the internal and external environment of the
product. The business mind turns the purpose and passion into profit. It also
creates customers and exchange of values.

Direction: Choose your answer from the given options. Write your answers on a
separate sheet of paper. Write the letter only.

1. Which of the following essential characteristics of entrepreneurial mind see

things differently?
A. Creativity B. Innovative
C. Passion D. Resourceful

2. It brings the products (products or services) from the prototype stage to

production and eventually to the potential market.
A. Business mind B. Creative mind
C. Technical mind D. Product mind

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3. Which entrepreneurial mind conceptualizes and design products to capture

the sensory system of human being?
A. Business mind B. Creative mind
C. Product mind D. Technical mind

4. Which of the following best describes a creative mind?

A. Creates costumers.
B. Employs of technology to arrive at a reconfigure design.
C. Sees and uses products aside from its basic function.
D. Converts prototype into production stage for final distribution to its
market.

5. A common eyeglass is used as a reading glass only. However, due to

consumer demands, the product description and design is being
reconfigured through a technology to come up with a progressive eyeglass
not just for reading but for three capable uses. What entrepreneurial mind
is being manifested in the situation?
A. Product mind B. Creative mind
C. Technical mind D. Business mind

Discover

What would be the right product for the right market? A question that
should be addressed by an entrepreneur to attain the business mission, vision,
goals, and objectives. After assessing competing products, the entrepreneur then
conceptualizes his/her own product. A concept is an idealized perception of the
product or service to be offered to the potential market.

Product development is a taxing task for an entrepreneur. Knowledge about

product development should be learned and done to come up with a perfect
product suitable for a marketplace.

DEVELOPING A PRODUCT DESCRIPTION

A Product Descriptions is a marketing strategy that explains what a product
is and why consumers should buy it. The very purpose and objective of developing
a product description is to provide information such as features and benefits to a
wide range of consumers to attract them and compel them to buy. Product
Descriptions should be created as part of the planning stage and before plan is
completed. A common mistake of an entrepreneur is that product description is not
done during the planning stage. It may not always be possible that Product

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Descriptions can be done at the conception stage for each product but, it can be
created or updated within the boundary stage processes.

A Product Descriptions is used to:

1. Understand the purpose of the product, its function, and benefits.

2. State who will use the product and how will be used.
3. Identify level of the Quality required of the product so the product will be
usable. (Should be fitted to the purpose)
4. Express the skills required to produce the product, to review and to
approve the same.

Writing an Effective Product Descriptions

A Product Description is basically written in each product to facilitate easy

recognition and identification of usefulness of a product. Here are some things to
consider in making Product Descriptions. Remember that a quality information
form part of an effective description.

1. Know your target market. This is the first step to consider in writing your
descriptions, know your market. From here you would be able to reach
which features would be enticing to your potential buyers. The personality of
your buyers plays a huge role in making this description. Thus, helping you
understand which the appropriate description is to be valuable to your
buyers.

2. Focus on the Product Benefits. Business owners are really excited to share
the features of their products. But buyers are determined to know the
benefits that the product offers not just the ordinary or the extravagant
features of it. Buyers focus on product benefits which talks about how the
products will improve their life rather than the product’s features which
talks about technical information of the product only.

3. Tell the Full Story. A good product description is a tell all story. The details
should be fully disclosed, convince the buyers of its benefits, and make an
emotional impact. Emotions affect the behavior of the buyers; therefore,
product descriptions should be the best opportunity to get closer with the
buyers. How will you do it? By filling any gaps between the product and the
buyer perception about the product.

4. Use Natural Language and Tone. Make a description as if you’re talking

with your friends. Build a connection between buyer and your brand by
using a description which is natural and convincing.

5. Use Power Words that Sell. There are words or phrases that entice human
emotions to buy a certain product. By being wary of these words, you can
easily convince your buyer to take the spring and make the purchase.

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6. Make it easy to Scan. If you are offering your product in social platform,
see to it that your description is scannable. Make your product descriptions
easy to scan by providing bullet points, short sentences, and by using
different fonts.

CREATING A PRODUCT PROTOTYPE

To transform the product concept into a viable product, the technical mind
must intercede to provide the quality and performance specifications through
technology.
One of the necessary early steps in the inventing process is the creation of
the prototype. It is the conversion of concepts into a viable product. Creating a
prototype is also considered as fun and rewarding step to take. This stage brings
out the creativity, resourcefulness, and passion of an entrepreneur. It is where the
concepts turn into something real and tangible whether it is made through hands
or machines.

So, what exactly a prototype should look like? First, it depends on your idea.
Second, it depends upon your goal or budget. If possible, it is best to start with
homemade prototype. A homemade prototype can give you a good running start.

A prototype provides other advantages, as well:

1. It enables you to test and refine the functionality of your designs.

The reason for making a prototype is to test the functionality of your idea.
Theory works well if validated by a prototype. You will not know the flaws of
your concepts unless it is transformed into reality. Thus, through
prototyping we can see the issues and challenges and eventually adjust if
necessary to come up with a viable one.
2. It makes it possible to test the performance of various materials.
Prototyping aid the use of suitable materials needed to produce a viable
product. For example, the concept material is metal and after testing, the
results show that it is more convenient to use plastic as component.
Prototyping aid us to come up with the best materials.
3. It will help you describe your product more effectively with your staff,
including your packaging or marketing specialist, and potential investors.

Why Prototype?

Prototyping is the Design Verification phase of Product and Development

because it attests and validates the designs in theory. Think of a prototype in
virtual or in an imaginary and just convert it as if you are holding it. It makes a
difference if a prototype can be touched, seen, tried, and felt.

Reason of prototyping

1. Display or show the new product (for show or for potential investors)

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2. Test an idea if it works.

3. Test the design and concepts if it passes certain requirements.
4. Use to gauge where improvements are necessary.
5. Acquire customer response.

Prototyping Methods

Traditional and conventional prototyping methods include mock-ups (clay,

woods, or other) and the infamous bailing wire and duct tape. Mock-ups is a highly
reliable static design diagram, should show information frames and statically
present content and functions. Unlike the infamous bailing wire and duct tape, a
mockup looks more like a finished product, but it is not interactive and not
clickable. It is rather a graphical illustration. Wireframes is perfect to be used at
the brainstorming and collaborating or very early design stage.

When to Prototype

Depending on a product, a prototype may or may not be required or may

only be a part of the design of a product need prototyping. However, this not to
conclude that prototyping is not important. It is to emphasize that prototyping is a
taxing task and at the same time costly, so the need is worth evaluating.

In many industries the product complexity and need several iterations of

designs required prototyping and testing. Just like in auto-industry, they use
different variations of prototype to test and evaluate their design and to find areas
of further improvements.

Constructing your Product’s First Prototype

One way to improve your product viability is to create a prototype. Here are
following step taking into consideration in constructing your product’s first
prototype.

1. Create a Concept Sketch. Ideas in mind should be written in papers to

arrive at a first step in making your idea into reality. Illustrating your idea
aids you in visualizing the bigger picture of your detailed prototype.
At the early stage of conceptualization there are so many ideas competing.
So, the best way to do it is to put in paper rather to invest time perfecting a
digital drawing.

2. Develop a Virtual Prototype. After putting up your concepts in paper and

selection of suitable sketch prototype, the help of a standard digital design
tools will transform your 3-D drawing into a photorealistic prototype. This
will help you see the virtual physical version of how your design look like.

3. Build a Physical Prototype. Once you have already your virtual prototype,
you are ready to construct its physical version. If you are skilled to do it, you
can make it yourself. However, if not you can ask the help of an expert to do
it. Basically, the first prototype is made in a less expensive material to

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correct flaws and improvement. As you improve your design, you can surely
make a replica of your prototype as it will be offered to your consumers.

4. Locate a Manufacturer. If the feedback of the consumer is positive and

your idea is going to be profitable you need to search for a company that can
manufacture your product. Locate a company that can make or produce
your product cost-efficiently and will not compromise your target revenue.
Go to different suppliers and manufacturers to get an estimate to determine
the most cost–efficient materials in putting your designs into production.

TESTING THE PRODUCT PROTOTYPE

The very important part of the design and manufacturing process is the
testing of the developed product/prototype. The need of testing of the prototype is
to evaluate whether the specification is functioning well or there is a need of
adjustment or improvement. In general, testing is done to allow the designer and
client to gauge the viability of the design. There are many reasons why testing and
evaluation takes place. Some reasons are listed below.

1. Testing and evaluation allow the client to view the prototype and to give
her/his feedback.
2. A group of people can try out the product and give their views and
opinion regarding the product. At this stage improvement and
adjustments are carried out.
3. Safety issues are being identified.
4. Allowing the product cost to be measured and concluded.
5. Component parts failures are identified at this point.
6. Can be carried out aligned to the similar design, thus, it leads to product
improvement.
7. Evaluating the manufacture of the product, allow the designer to plan
and decide the most cost- efficient and cost- effective manufacturing line.
8. Guarantee consumer satisfaction.
9. Allow concepts designed to be fully evaluated.
10. Testing against the specifications of the products helps to ensure a full
and relevant evaluation.
11. The testing and evaluation phase allow fellow specialist and expert to give
their opinions and views and suggest critical improvements for the flaws
seen during that stage.

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Explore

Directions: Think of a product you want to offer to the market. Using the template
below, write a detailed description of the product or services. Use a separate sheet
of paper for your answer.

PRODUCT DESCRIPTIONS
Name of the Product
Manufactured By
Use of the Product

Overview of the Product

Ingredients/Construction Components

Price

RUBRICS for Scoring:

Category 4 Points 3 Points 2 Points 1 Points

Content Extensive and Sufficiently Inadequate Apparent
precise content established content with and/or
demonstrating content with short insignificant
strong acceptable elaboration or content
development and elaboration or explanation
refined ideas. explanation.
Organization Advanced Well-organized Disorganized Insignificant
arrangement of arrangement of and varying control of
content with content that arrangement of content
evidence and /or sustains a content with or arrangement.
elusive logical order without
transitions with some attempts at
evidence of transition
transitions.
Sharp, different Apparent point No apparent Insignificant
controlling point made about a point but evidence of a
Focus and made about a single topic with evidence of a topic.
Creativity single topic with adequate specific topic.
evident awareness of
awareness of task task.

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Deepen

Directions: GatherEXPLORE
different indigenous materials in your locality to use in
prototyping. Create a product out of the materials you gathered. Afterwards take a
picture of your finished product and paste it on the space provided below.
Contained in the picture are the following:

Name of the Product:

Use of the Product:

Overview of the Product:

Component/Ingredients:
Price:

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RUBRICS for Scoring:

CATEGORY 4 pts. 3 pts. 2 pts 1pt
Content Express’ opinion Opinion s and Unclear Does not
& and ideas in a ideas are stated connection to express
Presentation clear and concise clearly with the topic. opinions or
manner with occasional lack Evidenced in ideas clearly,
obvious of connection to minimal no connection
connection with the topic. express of to the topic.
the topic. opinions or
ideas
Originality Ideas and Ideas and Uses ideas and Uses ideas
& illustrations show illustrations illustration of and
Uniqueness many original show original other people. illustration of
thoughts. Ideas is thoughts. There is a slight others and no
unique and Works shows evidence of evidence of
imaginative new idea and original original
perception. thinking. thinking.
Creativity Uses excellent Make good Make use of Make use of
& choice of colors, choice of colors, color, fonts, and color, fonts,
Craftsmanship fonts, and words fonts, and words that are and words
that are words that are not so that are not
appealing to the appealing to the appealing to the appealing to
market. market. market. the market.

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Gauge

I. Directions: Choose the correct answer. Write the letter of your answer in a
separate sheet of paper.

1. Which of the following should be taken into consideration in making an

effective product description?
A. Company’s objectives B. Potential Market
C. Investors point of views D. Product undesirable features.

2. Why does testing a prototype considered as a significant phase of product

development?
A. It allows to see the unviability of the products.
B. To know whether the product specification is functioning well.
C. To be able to evaluate if the products need adjustments or not.
D. B and C

3. What do you call a method of prototyping wherein the output is said to be

like the product itself, but it is not interactive and clickable?
A. Mock-ups B. Duct Tape
C. Wireframes D. Bailing Wire

4. What should be included in the product description of products and

services?
A. Features B. Price
C. Benefits D. All of the above

5. What do you call an early sample, model, or release of product to test a

process or concept?
A. Model B. Clone
C. Prototype D. Mock-ups

II. Direction: Read carefully and do what is being asked. Use a separate sheet
of paper to answer.

You are a budding businessman and is finally done with market research and
assessment. You came up with a “Milktea” Product to be marketed in your province
or locality. You are asked to do the following tasks:

1. Create its Product Descriptions.

2. Make or draw a prototype.
3. Explain how you will test the prototype to achieve your business goals.

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RUBRICS for Scoring:

CATEGORY 10 pts. 7 pts. 5 pts 3 pts or below
Content Express’ Opinion s and Unclear Does not
& opinion and ideas are connection to express
Presentation ideas in a clear stated clearly the topic. opinions or
and concise with Evidenced in ideas clearly,
manner with occasional minimal no connection
obvious lack of express of to the topic.
connection with connection to opinions or
the topic. the topic. ideas
Originality Ideas and Ideas and Uses ideas and Uses ideas and
& illustrations illustrations illustration of illustration of
Uniqueness show many show original other people. others and no
original thoughts. There is a evidence of
thoughts. Ideas Works shows slight evidence original
is unique and new idea and of original thinking.
imaginative perception. thinking.
Creativity Uses excellent Make good Make use of Make use of
& choice of colors, choice of color, fonts, color, fonts,
Craftsmanship fonts, and colors, fonts, and words that and words that
words that are and words are not so are not
appealing to the that are appealing to appealing to
market. appealing to the market. the market.
the market.

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References

Printed Materials:

Morato ,Eduardo A. Jr. (2016). Entrepreneurship (pp8-37 & 77-87). Manila, Philippines: Rex
Bookstore, Inc.
Curriculum Guide SHS Applied Track-Entrepreneurship
DepEd (2016). K to 12 Curriculum Guide. Entrepreneurship

Website:

8 Rules to Write Product Description- Retrieved October 22, 2020 from

[Link]

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Answer Key

Jumpstart
1. A
2. A
3. B
4. C
5. C
Explore

Answers may vary. Use rubrics for scoring.

Deepen

Answers may vary. Use rubrics for scoring.

Gauge

I. Multiple Choice
1. B
2. D
3. A
4. D
5. C
II. Use rubrics for scoring.

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