R epublic of the P hilippines

D epartment of E ducation
N a t i o n a l C a pi t a l Re g i o n
Sc h o o l s D i v i s i o n O f f i c e o f La s Pi ñ a s C i t y

NAME: ___________________________________________ Score: ___________________

GRADE & SECTION __________________________ Teacher: ___________________

MODULE IN ABM12
ENTREPRENEURSHIP
Third Quarter
Lesson 4 Opportunity Seizing

What I Need to Know

Week 4
At the end of the discussion, you will be able to:
 Identify the entrepreneurial process.
 Apply the qualities of an entrepreneur who seize
 opportunities in daily living. Recognize the importance of seizing the opportunity in
entrepreneurial process.

What I Know

Choose the letter of the correct answer.

1. Many successful entrepreneurs start life with very little money or
education.
A. True B. False
2. To imagine your business, set it up, and make it succeed will take a
tremendous amount of _______.
A. Love C. Energy
B. Knowledge D. Humor
3. __________ is the ability to cope with new situations and find
creative solutions.
A. Feasibility C. Responsibility
B. Credibility D. Adaptability
4. ___________ is a willingness to compete with and test yourself
against others.
A. Competitiveness C. Decisiveness
B. Protectiveness D. Resourcefulness
5. _________ is the belief that you can accomplish what you set out to
do.
A. Happiness C. Confidence
B. Playfulness D. Timeliness
6. ______ is the desire to work hard and achieve one's goals.
A. Serenity C. Curiosity
B. Drive D. Longevity
7. _________ is a commitment to refrain from lying; to be truthful and
sincere in dealing with others.
A. Honesty C. Resiliency
B. Efficiency D. Hospitality
8. __________ is the ability to structure your life and keep tasks and
information in order.
A. Organization C. Diligence
B. Determination D. Frugality
9. _____________ is the knack for convincing people to see your point of
view and to get them interested in your ideas.
A. Personality C. Punctuality
 B. Persuasiveness D. Popularity
10. ___________ is the ability to stay focused and adhere to a schedule
and deadlines.
A. Humility C. Determination
B. Honesty D. Discipline
What’s In
After Opportunity Seeking and Screening, the entrepreneur is ready for the final
stage. By now, the entrepreneur has an idea as to where he or she will locate the
business and how he or she will market the product or service. At this stage, the
entrepreneur must be able to determine the critical success factors that enable other
players in the same industry to succeed while, at the same, be vigilant about those factors
that cause other businesses to fail.
The question for the entrepreneur in this final stage called Opportunity Seizing is “Will
I be able to manage, to my advantage, the critical success factors and avoid the critical
failure factors?
What’s New
“A Filipino Tailor from Italy.”
This is about a successful story of a tailor entrepreneur who was able to take chance
of an opportunity, refined it, and later on made it big in the high-end fashion industry.
Read this article below and answer the following guide questions.
1. Identify the source (s) of opportunity in this article and what particular
product or service was derived out of that opportunity. How did the
business owner react to the opportunity?
2. Cite the many challenges that the tailor and his daughter experienced
before being successful in the high end fashion business. How did they
overcome the challenges?
When you see a businessman, politician,
Or entertainer in a custom-made suit in Manila,
chances are they are wearing Tino. The high-end
fashion company was started by Eilene Ramirez to
capitalize on the talents of her father.
Her dad was a master tailor who had trained in
Europe. Ramirez recalls watching him at his craft
when she was a young girl. “I would watch my
Dad lean down in front of his working table with his
spectacles at the tip of his nose. He would transfer the measurements of the pattern on
the fabric and etch markings on it with ease,” she said. “Then carefully, he would let his
scissors glide gracefully onto the fabric, while the excess materials would fall to the
floor.”
Ramirez concluded, “I know, this might sound a bit dramatic but this was
really how I saw my dad and his work – the attempt of recreating the
human body in fabric.”
During late 2011, Ramirez began to think of a brand that would allow her
father to share his talent and practice the techniques he learned related
to bespoke tailoring. Tino was thus born.
The first 6 months
Tino is truly high end. The price point of its suits is higher than you
would get off the rack at a store in the mall. They have a fixed fee for both
two-piece and 3-piece suits. “Prices may vary depending on the fabric,”
Ramirez said. “Our suits start at P28,000 and go up to P45,000 for a
100% English wool, and between P60,000 and P140,000 for an Italian
100% wool loro piana suit.”
In other words, the market that Ramirez serves is niche. This is both a gift – you have
don’t have to sell on volume like brick-and-mortar retailers – and a curse, at least
initially. For a brand-new Filipino brand, especially in a space like fashion, it was hard to
get the attention of Tino’s target demographic.
“On the marketing side, it was a challenge to differentiate Tino from the
existing tailoring industry in the Philippines,” Ramirez said. “Many
Filipinos were accustomed to a certain price range for tailored suits, so it
was crucial to slowly position and establish Tino’s unique bespoke
tailoring services.”
To do this, Ramirez always made it a point to tell Tino’s story and what it
set it apart from other tailoring shops. This is how she pitches Tino:
“Bespoke is a higher level of custom tailoring. A bespoke suit is hand-
crafted – in full floating canvas, basted fitting forms, and hand-stitched
finishing. Most essentially, the Master Tailor himself would be the one to
take the measurements, do the fittings, draft the pattern, and cut the
fabric.”
 She continued, “With these, the master tailor would be able to observe every detail of
the body and its peculiarity. Another important point in bespoke tailoring is the client’s
involvement in choosing the fabric, the materials, the suit’s feature and the fit. Generally,
it’s a high level of customization and participation of the client all throughout the
construction process.” Ramirez thus thinks that Tino is in more of a business than just suits.
“It’s the experience,” she said.
According to Ramirez, the first 6 to 8 months were the toughest, particularly in
terms of cash flow. “It was essential to choreograph cash-flow properly, because even if
sales were booming, inadequate cash-flow could bring the business down,” she said. “Our
initial capital was not enough to feed the growth of the business, so we had to come up with
strategies every now and then.”
Ramirez found ways to improve cash flow on several fronts. For one, they forecasted
the cash input and cash output they expected for the first 12 months, and then monitored
sales and reviewed them at the end of every month. The company also tried to strike better
deals with their suppliers, in addition to longer payment terms.
Ramirez also made it a point to make sure that clients paid on time. “We became very
conscious with our receivables,” she said. “We ensure prompt delivery of products and
watch on receivables every day to ensure customers were paying on time.”
Expanding into Southeast Asia
Given that Tino deals with a high-end client base, many of whom are celebrities and
would prefer their privacy, the company maintains a general policy of confidentiality over
who it makes suits for. Yet in a surprising turn, Tino doesn’t have to do much bragging –
some of their famous clients do it for them, evangelizing on the virtues of their bespoke
suits.
“A great proof of this support was with Tino’s grand launching last April wherein
some of our clients gave us the honor of having them as our models during the fashion
show. They walked at the runway wearing their Tino suits and called themselves Friends of
Tino,” Ramirez said, adding that many of their client-models also allowed Tino to feature
them in promotional video as testimonials.
Because Tino observes such a strict code of confidentiality and allows the celebrities
to speak on their behalf rather than the other way around, their clients tend to become
their biggest advocates. They discuss Tino to other people who might want their suits. “So
far most of Tino’s clients are very open with helping us promote our services, maybe
because they are happy with the result of our work,” Patti Veridiano, the PR consultant for
Tino, said. “Most of them spread news about Tino through word of mouth and which is the
most effective form of PR.”
Still, the Tino team does not discount the value of having a strong digital presence.
“Having a strong digital presence is a must in any kind of business,” Veridiano said. “As
business culture progresses, technology provides advantages to widen your reach and your
market, pushing brands to adapt to the latest trends in using media platforms to convey its
message to its public.”
Tino will need a strong message as it pushes to expand throughout the region.
“Tino’s vision is to be the top-of-mind bespoke tailoring in South-East Asia by 2017,”
Ramirez said. “Our short-term goal is to establish bases in several parts of the country,
starting in Cebu by early next year. Aiming on nearby countries would be next.”
Part of Ramirez’s goal in growing Tino is supporting more tailors. She also wants to pay
them above market rates, so that they are not able to just support themselves, but truly
improve their quality of life.
  What is It
One of the biggest reasons people “miss their shots” in life is simply because they
cannot clearly see the target.  A lack of vision can cripple your ability to capitalize on
opportunities that may be right in front of you.  Inexperience or a deficiency in knowledge
may be factors that lead to this lack of awareness.  
Fear is another huge obstacle that keeps people from seizing opportunities.  Fear
can come from many different sources:  past failures, lack of self-confidence, overestimation
of possible problems, uncertainty, or concern about taking a loss, etc.  However, sometimes
in life chances need to be taken if you are ever to progress, so fear must be overcome
regardless the source.  
Hesitation has cost countless individuals countless opportunities. Be the person
who makes things happen by turning situations and circumstances to your favor.  Don’t be
like the machine that seizes up and stops functioning under pressure.
Opportunity Seizing is defined as the act of taking advantage of an opportunity or chance
that is available in present time. It is the last step in opportunity spotting and assessment
which involves refining and developing of the opportunity. It is the “pushing through” with
the chosen opportunity.
Four (4) Stages in opportunity seizing:
1. Ideal Stage
  In this stage the entrepreneur determines what are the feasible products and
services that will perfectly suit the opportunity through:
A. Market evaluation
B. Assessment of the value of the new products/ services
C. Elimination of unappealing products/services
2. Concept Stage
 The developed idea will undergo a consumer acceptance test
 This includes getting the initial reactions of the primary target market and the
distribution channel.
3. Product Development Stage
 The entrepreneur leverages on the information generated from the prospective
customers via the concept stage.
A. Determine actual reactions from prospective customers
B. Conduct consumer panel
4. Test Marketing Stage
 This stage validates the work done from the first three stages to measure
success in the commercialization of the product or service.
Innovation on the other hand, is the process of positively improving an existing
product or service. It is a key for economic growth.
There are (3) types of Innovations according to the degree of distinctiveness:
1. Breakthrough innovation
 May also include inventions, occur infrequently as these establish the platform
on which future innovations in an area are developed
 Must be protected by a patent, a trade secret, or a copyright
 Examples: Internet, computer, or airplane
2. Technological Innovation
 Occur more frequently than breakthrough innovation
 Are technological advancements of an existing product or service. These
innovations need to be protected too.
 Examples: Wireless fidelity or Wi-fi, laptop and jet airplane
3. Ordinary Innovations
 Occur ordinarily as the name implies
 Are commonly originating from market analysis and technology pull instead of a
technology push
 This means that the market has a strong influence on the implementation of an
innovation.
 Examples: Unlimited Internet plans of telecommunication companies, a wireless
mouse, and airbus for economical travelers.
What I Have Learned
Opportunity Seizing is defined as the act of taking advantage of an
opportunity or chance that is available in present time.
It is the last step in opportunity spotting and assessment which involves
refining and developing of the opportunity.
There are four (4) stages in Opportunity Seizing:
Ideal Stage
Concept Stage
Product Development Stage
Test Marketing Stage
Innovation is the process of positively improving an existing
product or service.
The three (3) types of innovation according to the degree of distinctiveness
are:
Breakthrough Innovations
Technological Innovations
Ordinary Innovations
What I can Do
To further assess the discussion regarding Opportunity Seizing, learners would
need to perform the given activities below.
Activity 1. Word Search
There are certain qualities to be considered as a successful entrepreneur who seize
opportunities that you need to foster every single day. In order to complete this activity
successfully, you need to highlight at least 5 qualities and list them down on your paper.
X G P J S E R E V E S R E P

C B E K R S U O I R U C G Q

V N R N Q T W X Y B C F H P
 Y M A L E V A L U A T O R O

D Q W M C R E A T I V E I N

A W A N P C O N F I D E N T

E S I W O U V U Z A E D J M

R T O P T I M I S T I C K L

Activity 2. Own Business Company

Show off your entrepreneurialism by creating a scenario wherein you have applied in your
own business company the qualities that you found in the word search of Activity 1
RUBRIC

Criteria 10 Points 5 Points Score

The student showed all the The student showed few of the
1. Content qualities of an entrepreneur qualities of an entrepreneur
who seize opportunities. who seize opportunities.
The student perfectly The student barely described
described the scenario of an the scenario of an entrepreneur
entrepreneur who seize who seize opportunities.
2. Creativity
opportunities.
The student’s written output The student’s written output
3. Organization was clear and easy to was somehow clear and easy
understand. to understand.
Additional Activities

Time to reflect
Create a 5-sentence personal journal. The journal will explain freely about your experience
where you became an entrepreneur who seized opportunities.

Assessment 
Identification: Refer to the Word Bank for your answers.
________________ 1. It is the “pushing through” of the chosen opportunity.
________________ 2. The process of positively improving an existing product or service.
________________ 3. A stage in opportunity seizing wherein the developed idea will undergo a
consumer acceptance test
________________4. Wi-fi, laptop and jet airplanes are examples of this kind of innovation.
________________ 5. A type of innovation commonly originating from market analysis and
technology pull instead of a technology push.
________________ 6. In this stage the entrepreneur determines what are the feasible products
and services that will perfectly suit the opportunity
________________ 7. A type of innovation that must be protected by a patent, a trade secret,
or a copyright.
________________ 8. Market evaluation, Assessment of the value of the new
products/ services and Elimination of unappealing products/services belong to what stage
of opportunity seizing.
________________ 9. Examples of this kind of innovation are unlimited Internet plans of
telecommunication companies, a wireless mouse, and airbus for economical travelers.
________________10. This stage in opportunity seizing validates the work done from the first
three stages to measure success in the commercialization of the product or service.

WORD BANK

Ideal Stage Concept Stage Product Development Stage

Test Marketing Stage Breakthrough Innovation Technological Innovation

Ordinary Innovation Opportunity Seizing Innovation