How do you turn a business idea into a profitable biz?
Human Nature’s International Business team set out to help School of Experiential and Entrepreneurial Development (SEED) students turn their social enterprise idea into a profitable business with a heart. SEED is a Technical Education and Skills Development Authority (TESDA) accredited program that aims to equip young people to become agricultural entrepreneurs.
The International Business team tackled competitive industry analysis which helped the students delve deeper into the business industry that they’d like to pursue. Competitive Industry Analysis focuses on understanding market data to be able to develop a competitive business strategy.
Most social enterprise models from SEED are based on agriculture, food, and beverage. Many of which are dominated by big multinational companies like Nestle and Unilever —so knowing how market distribution works and keeping an eye on market trends are important.
“This lesson is relevant since their ideas are still in formative stages. This can help them better position their social enterprise against competitors and plan where they want to take their business in the long run. Learning how to do industry analysis would equip them to create a brand that can compete not just in the local market but hopefully in the international stage as well,” Jam Caccam of International Business said.
The International Business Team: Dia Lacaba, Moise Santos, Jam Caccam, and Bea Jocom capped off the day with a photo with SEED students after a fruitful activity