Understanding business environment

1. UNDERSTANDING
BUSINESS
ENVIRONMENT
AND
MARKET
Generating Ideas for Business

2. NEEDS AND WANTS

3. NEEDS AND WANTS

4. NEEDS AND WANTS

5. NEEDS AND WANTS
NEED WANT

6. NEEDS AND WANTS
 EDUCATION
 EXERCISE
 LOVE
 RELIGION
 WORK
 FOOD
 HOUSE
 CELLPHONE
 SMARTPHONE
 IPHONE
 TABLET PC
 MOTORCYCLE
 WIFI
 INTERNET
 MOBILE DATA CONNECTION
 HEADPHONE
 FAMILY VACATION
 DOG
 CAR
 BICYCLE
 IMAC
 DESKTOP COMPUTER
 CAT

7. NEEDS AND WANTS

8. Maslow's Hierarchy of Needs

9. NEEDS AND WANTS
Needs and wants of people are the basic
indicators of the kind of business that you may
engage into because it can serve as the measure
of your success. Some other good points that
you might consider in business undertakings
are the kind of people, their needs, wants,
lifestyle, culture and tradition, and social
orientation that they belong.

10. NEEDS AND WANTS
 How do you integrate NEEDS and
WANTS into business?
 How do NEEDS and WANTS affects
business?

11. BUSINESS ENVIRONMENT AND MARKET
YOUR
BUSINESS
ECONOMY
GOVERNMENT
NATURAL & PHYSICAL
ENVIRONMENT
DEMOGRAPHY
CULTURE
TECHNOLOGY

12. Natural and Physical Environment
This concerns the
physical location of a
business’ store. The
natural environment
also pertains to the
natural and man-
made structures that
may enhance the
beauty of the location

13. Demography
This pertains to the
number of people
living in the area,
their age, gender,
socio-economic
status, family size,
religion and even
growth trends

14. Culture
the totality of the
way of life, ideas and
customs of a set of
people or society

15. Government Regulations
The laws and policies
of the national and
local government
units also influence
the business
operations

16. Economy
This pertains to the
management of
resources and study
of the system of
production,
distribution, and
consumption of
goods and services

17. Technology
Technological
changes are
inventions based on
the application of
science that create
new product or
process
improvements

18. SCREENING IDEAS FOR BUSINESS
1. How much capital is needed to put up the business?
2. How big is the demand for the product
3. How is the demand met?
4. Do you have the background and experience needed
to run this particular business?
5. Will the business be legal, not going against any
existing or foreseeable government regulation?
6. Is the business in line with your interest and expertise