LLAGAS, Ariedna

ABAYON, Abegail
DELOS SANTOS, Christian
Mikaella
MONSALE, Ma. Beatrice
SOLARTE, Rollie
TRIANES, Angelique Vinn

I.

KEY COMPETENCIES

COMMUNICATION
-

It is a pivotal role to the development of the entrepreneurial society.

Entrepreneur must have the skills in communication to compete with
other entrepreneur like getting more investors.

Methods of Communication
1 Face-to-Face Communication a lot of your business communication
will take place in a face-to-face format, such as meetings and
conferences, so its important to refine your in person skills.
2 Email has transformed the way that people communicate in the
business world. Emailing enhances efficiency because it is quick to
send and quick to respond to, and you can even include attachments
that are essential to the subject being discussed in the email
conversation. Email conversations can be between two or more people,
and these types of discussions often replace the need for formal
meetings since decisions can be made in this forum.
3 Teleconferencing it is another method of business communication
that is commonly employed in the workplace. Communicating through
a telephone conferencing system is an effective way of conducting
business when people are not able to attend a meeting in person.
Attending a meeting via teleconference also saves people from
accumulating travel expenses since they can call into the
teleconference right from their office.
4 Video conferencing is similar to teleconferencing in that the
attendees do not have to travel anywhere to participate in the
meeting. But unlike teleconferencing, a video conference allows you to
see people through a TV screen or computer monitor. Furthermore, this
is a two-way process, so all participants can see each other. Video
conferencing requires the use of special video equipment, so you may

need to check with your technology department to determine if it is

something your company is capable of doing.
LEADERSHIP
-

It is the primary force behind a successful change.

Entrepreneurial leadership a leadership that is based on the attitude that

the leader is self-employed. Leaders of this type:
-

Takes initiative
Demonstrate
Take risk
Take responsibility

EXPERIENCE
-

As an entrepreneur, you must employ all present and previous

experience you have into the business you are building.

II.

PORTERS FIVE FORCES MODEL

1 Barriers to entry in the Business
- Power is also affected by the ability of people to enter your market. If it
costs little in time or money to enter your market and compete
effectively, if there are few economies of scale in place, or if you have
little protection for your key technologies, then new competitors can
quickly enter your market and weaken your position. If you have strong
and durable barriers to entry, then you can preserve a favorable
position and take fair advantage of it.
2 Threat from substitute products
- This is affected by the ability of your customers to find a different way
of doing what you do for example, if you supply a unique software
product that automates an important process, people may substitute
by doing the process manually or by outsourcing it. If substitution is
easy and substitution is viable, then this weakens your power.

3 Threat from buyers bargaining power

- Here you ask yourself how easy it is for buyers to drive prices down.
Again, this is driven by the number of buyers, the importance of each
individual buyer to your business, the cost to them of switching from
your products and services to those of someone else, and so on. If you
deal with few, powerful buyers, they are often able to dictate terms to
you.
4 Threat from suppliers bargaining power
- Here you assess how easy it is for suppliers to drive up prices. This is
driven by the number of suppliers of each key input, the uniqueness of
their product or service, their strength and control over you, the cost of
switching from one to another, and so on. The fewer the supplier
choices you have, and the more you need suppliers' help, the more
powerful your suppliers are.
5 Rivalry among existing industries
- What is important here is the number and capability of your
competitors if you have many competitors, and they offer equally
attractive products and services, then youll most likely have little
power in the situation. If suppliers and buyers dont get a good deal
from you, theyll go elsewhere. On the other hand, if no-one else can
do what you do, then you can often have tremendous strength.