1. Entrepreneurship
Senior High School Applied - Academic
Unit 3: Business Opportunity Seeking, Screening, and Seizing
Lesson 4
Opportunity Seizing: Business
Position Statement
3. Learning
Objective
ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
At the end of the
lesson, you should
be able to do the
following:
Propose solutions in terms of
product/s and service/s that will
meet the need using techniques on
seizing opportunities.
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3
4. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
1. How does a feasibility study help in the
opportunity seizing phase of
entrepreneurship?
2. How will the opportunity seeking and
screening stages help the entrepreneur in
opportunity seizing?
3. What qualities must an entrepreneur have
when seizing opportunities?
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5. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Opportunity Seizing
The stage of determining
the critical success
factors of succeeding in
the industry, while also
being cautious about
other factors that cause
failure to some
businesses.
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6. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Objectives of Opportunity Seizing
Given that opportunity seizing is the final stage of
choosing the most feasibility opportunity, it’s relevance
in entrepreneurship dwells on two main objectives:
1. to enable the entrepreneur to transform his business
opportunity into a reality, and
2. to address the compelling needs or demands of the
market.
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7. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
What are the secrets to opportunity seizing?
1. Stepping out of the comfort zone
2. Make the small ones count
3. Network with creative and business-minded
people
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8. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Business Position Statement
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A business position statement refers to a brief
description of a product or service catered by
the business and specifically how such a
product or service answers the compelling
need of the target market.
9. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Business Position Statement
9
It’s main purpose is to introduce the product or
service to the customers and to align the
branding efforts with the brand and its value
proposition.
10. Remember
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A business position statement
refers to a brief description of a
product or service catered by the
business and specifically how such
product or service answers the
compelling need of the target
market
11. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Value Proposition vs. Business Position Statement
11
A value proposition is broader in nature and is
a direct output of a business strategy. It refers
to a bigger picture which includes all the core
benefits offered to various market segments
and the price that a customer pays to acquire
those benefits.
12. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Value Proposition vs. Business Position Statement
12
A business position statement is more
specific and technically deals with a subset of
the value proposition. It is oftentimes used in
marketing programs and activities of the
entrepreneur.
13. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Writing a Business Position Statement
1. Keep it short.
A business position statement is not about the
vision and mission of an enterprise. Therefore,
such statements should be concise and
straightforward.
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14. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Writing a Business Position Statement
2. Make it unique and remarkable.
If the entrepreneur wants to stand out in the
industry, the business position statement
should be crafted in a unique way.
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15. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Writing a Business Position Statement
3. Stick to the core values of the business.
A business position statement must reflect the
primordial values of the enterprise itself.
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16. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Writing a Business Position Statement
4. Show how the business is different from other
competitors.
The competition will always be present in any industry.
As such, an effective business position statement should
point out what separates the business from its main
competitors.
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17. Tip
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The following is a sample format in crafting a
business position statement:
“For [state the target market] who [the needs of
the target market], [business or brand name]
provides [what differentiates the business from
other competitors] because [why should the
target market believe in the business..]”
18. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Example: Crafting a Business Position Statement
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18
Situationer:
An entrepreneur is planning to put-up an
online marketplace (ABC) that caters to a wide
range of consumer products with delivery
services. Following the template, here is a
sample position statement for his business:
19. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Example: Crafting a Business Position Statement
19
19
“For consumers who want to purchase different
products online with competent delivery services,
ABC provides a fully-functional online shopping
site. ABC sets itself apart from other online
retailers with its basic mission: a commitment to
operational excellence to all its valued
consumers.”
20. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Activity
Give at least five means or approaches you can
suggest in seizing business opportunities.
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21. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Questions
Part A. Answer the following questions based on
your understanding of the lesson:
1. How would you define the concept of
opportunity seizing?
2. What is the relevance of opportunity seizing in
entrepreneurship?
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22. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Questions
3. What are the differences between
opportunity screening and opportunity
seizing?
4. How would you define a value proposition?
5. What is the relevance of having a business
position statement?
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23. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Questions
Part B. Answer the following questions based
on your understanding of the lesson:
1. How is opportunity seizing interrelated to
entrepreneurship?
2. Give at least three reasons why every
business should have a position statement.
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24. ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
ENGAGE EXPLORE EXPLAIN EXTEND
EVALUAT
Questions
3. What is your opinion towards “branding
through the creation of a position statement?”
4. What will you suggest in order to have an
impactful business position statement?
5. Summarize the differences between a value
proposition and a business position statement.
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25. Wrap Up
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Opportunity seizing pertains to the stage of
determining the critical success factors of
succeeding in the industry, while also being
cautious about other factors that cause failure to
some businesses.
26. Wrap Up
26
A business position statement refers to a brief
description of a product or service catered by the
business and specifically how such a product or
service answers the compelling need of the
target market.
28. Bibliography
Dollingner, Marc. Entrepreneurship: Strategies and Resources 3rd Edition. New Jersey: Prentice
Hall, 2003.
Janiszewska, Karolina, and Andrea Insch. “The Strategic Importance of Brand Positioning in the Place
Brand Concept .” Journal of International Studies, May 2012.
Kotler, Philip & Gordon McDougall. Marketing Essentials. Prentice-Hall Canada Inc., 1985.
Kuratko, Donald. Entrepreneurship: Theory, Process, and Practice. Taguig: Cengage, 2017.
Peters, Michael & Robert Hisrich. Entrepreneurship 4th Edition. McGraw-Hill Book Co.,
1999.
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Editor's Notes
GENERAL PARTS of this presentation:
Engage- this is meant to capture the students’ attention, link their prior knowledge to the new topic, and set their expectations about the lesson.
Explore- this is meant to elicit discussion, and encourage students to explore and derive ideas from questions, scenarios, activities, or discussion.
Explain- this is meant for the teacher to use to synthesize students’ ideas from EXPLORE, and to emphasize on the key understandings needed for this lesson.
Extend- this is an optional activity meant for guided practice.
Evaluate- this is a quick check of students’ understanding of the lesson.
Wrap Up- this is a reiteration of the key concepts of the lesson.
Note to teacher:
You may discuss this in class to check prior knowledge and ideas of students about opportunity seizing.
Note to teacher:
You may ask the class to do this activity, individually, by pair, or by group.
Afterwards, you may call some students to share to the class their answers.
You may process the answers given by each students so that the class can have a common understanding of the topic.
Model Answer:
Opportunity seizing pertains to the stage of determining the critical success factors of succeeding in the industry, while also being cautious about other factors that cause failure to some businesses.
It enables the entrepreneur to transform his business opportunity into a reality, and it addresses the compelling needs or demands of the market.
Model Answer:
Opportunity screening pertains to the phase where the entrepreneur selects the most viable opportunities available. On the other hand, opportunity seizing is the final stage where the entrepreneur has finally chosen the best opportunity available, which he would then transform into an actual business.
A value proposition is broader in nature and is a direct output of a business strategy. It refers to a bigger picture that includes all the core benefits offered to various market segments and the price that a customer pays to acquire those benefits.
Having a business position statement will enable the entrepreneur to market or advertise his business, specifically to its target market. Such a statement will help him in communicating with the consumers the benefits or advantages of its products and/or services.
Model Answer:
Opportunity seizing is interrelated to entrepreneurship in such a way that it enables the entrepreneur to take advantage of the most viable business opportunity. It is at this stage that the entrepreneur would already start executing his actual business.
First, a business position statement will help the entrepreneur in marketing its products and/or services. Second, this statement will increase the entrepreneur’s standing in the industry. Lastly, having a business position statement will draw the attention of the consumers most especially the target market.
Model Answer:
There are no right or wrong answers to this question. The answer would depend on the opinion and understanding of the student.
There are no right or wrong answers to this question. The answer would depend on the opinion and understanding of the student.
A value proposition is broader in nature and is a direct output of a business strategy. A positioning statement is more specific and technically deals with a subset of the value proposition.
