HANDOUT 1 • Value of achievement over money.

Triumph
seems to be entrepreneurs’ primary
THE CHALLENGE OF ENTREPRENEURSHIP
motivating force; money is simply a way of
Entrepreneur – undertakes new business in the face “keeping score” of accomplishments.
of risk and uncertainty to achieve profit and growth.
BENEFITS OF ENTREPRENEURSHIP:
Joseph Schumpeter wrote in his book The Theory of
• Create one’s destiny. Entrepreneurs want to
Economic Development, that entrepreneurs are more
“call the shots” in their lives, and they use their
than just business creators; they are change agents in
businesses to make that desire a reality.
society.
• Make a difference. Entrepreneurs are starting
CHARACTERISTICS OF AN ENTREPRENEUR: businesses because they can see an
opportunity to create change in an important
• Desire for responsibility. Entrepreneurs feel
cause.
a deep sense of accountability for the
• Reach one’s potential. Entrepreneurs’
outcome of their business ventures.
businesses become their instruments for self-
• Preference for moderate risk. Entrepreneurs
expression and self-actualization. Owning a
are not wild-risk takers but are instead
business gives them a sense of
calculated risk-takers.
empowerment.
• Self-reliance. Entrepreneurs often fill
• Reap impressive profits. Their businesses’
multiple roles to make their companies
profits are an essential motivating factor in
successful, especially in the early days of
their decisions to launch companies.
start-up.
• Contribute to society. Playing a vital role in
• Confidence in their ability to succeed.
their local business systems and knowing that
Entrepreneurs typically have an abundance of
their work significantly impacts the nation’s
confidence in their ability to succeed and are
economy is yet another reward for small
confident that they choose the correct career
business managers.
path.
• Pursue one’s passion. Most successful
• Determination. Entrepreneurs can focus
entrepreneurs choose to enter their particular
intently on achieving a singular, long-term
business fields because they are interested in
goal. Some people call this characteristic
them and enjoy those lines of work. They turn
“grit”.
their hobbies into work.
• Desire for immediate feedback.
Entrepreneurs enjoy the challenge of running POTENTIAL DRAWBACKS OF ENTREPRENEURSHIP:
a business, and they like how they are doing
• Uncertainty of income. Opening and running
and are constantly looking for advice. The
a business provides no guarantee that an
feedback they receive from their business
entrepreneur will earn enough money to
drives them to set higher standards of
survive.
performance for their companies and
• Risk of losing the entire investment.
themselves.
Business failure can lead to financial ruin.
• High level of energy. Entrepreneurs are more
• Long hours and hard work. Business start-
energetic than the average person.
ups usually demand long hours and work hard
• Future orientation. Entrepreneurs have a
from their owners. The owner works 51 hours
well-defined sense of searching for
a week, compared to the typical 40 hours per
opportunities. They look ahead and are less
week of a regular employee.
concerned with what they did yesterday than
• High level of stress. Failure means total ruin,
what they might do tomorrow.
and that creates intense levels of stress and
• Skill at organizing. Entrepreneurs know how
anxiety. Sometimes entrepreneurs
to put the right people together to accomplish
unnecessarily bear the burden of managing
a task.
 alone because they cannot delegate authority • International opportunities. No longer are
and responsibility to others in the company, small businesses limited to pursuing
even though their employees are capable. customers within their borders. The shift to a
• Discouragement. Along the way to build a global economy has opened the door to
successful business, entrepreneurs will run tremendous business opportunities for
headlong into many different obstacles, some entrepreneurs willing to reach across the
of which appear insurmountable. globe.

FORCES THAT DRIVE ENTREPRENEURSHIP IN THE THE DIVERSE MIX OF PEOPLE THAT MAKE UP
ECONOMY: ENTREPRENEURSHIP IN THE ECONOMY:

• Entrepreneurs as heroes. Business founders • Young entrepreneurs. Young people are

such as Bill Gates, Kevin Plank, Steve Jobs, embracing entrepreneurship enthusiastically
etc. are raised by society to hero statues. Their as a career choice.
accomplishments are published in books and • Women entrepreneurs. Despite years of
scholarly articles as models to follow. legislative effort, women still face
• Entrepreneurial education. Colleges and discrimination in the workforce. However,
universities have discovered that small businesses have been a leader in
entrepreneurship is an extremely popular offering women opportunities for economic
course of study. A rapidly growing number of expression through entrepreneurship. An
students see owning a business as their best increasing number of women are discovering
career option. that the best way to break the “glass ceiling”
• Demographic and economic factors. More that prevents them from rising to the top of
than 75 percent of entrepreneurs start their many organizations is to start their own
business between the ages of 20 and 44. companies.
• Shift to a service economy. A relatively large • Minority enterprises. Another rapidly growing
services sector characterizes the Philippines segment of the small business population is
economy’s output structure. Because of their minority-owned businesses. Hispanics,
relatively low start-up costs, service African Americans, and Asians are the
businesses have become very popular among minority groups that are most likely to be
entrepreneurs. The booming service sectors entrepreneurs.
provide many business opportunities, from • Part-time entrepreneurs. Starting a part-time
educational services and computer business is a popular gateway to
maintenance to pet waste removal and iPod entrepreneurship. Part-time entrepreneurs
repair. can ease into business for themselves without
• Technology advancement. With the help of sacrificing the security of a steady paycheck
modern business machines such as personal and benefits.
computers, laptop computers, smartphones, • Home-based business. An entrepreneur start
etc. even an individual working at home can a home-based business on average every 12
look like a big business. seconds. 52% of all small businesses are
• Independent lifestyle. Entrepreneurship fits home-based, and half of these have at least
the way most people want to live one employee. Many home-based
independently and self-sufficiently. entrepreneurs relish being part of the “open-
• Mobile marketing. The proliferation of the collar workforce”.
Internet, the vast network that links • Family businesses. These include 2 or more
computers around the globe and opens members of a family with financial control of
oceans of information to its users, had the company. Most of the corporations are
spawned thousands of entrepreneurial family-owned or family-controlled.
ventures since its beginning in 1993.
 • Copreneurs. These are entrepreneurial • Maintain a positive attitude. Achieving
couples who work together as co-owners of business success requires an entrepreneur to
their business. maintain a positive mental attitude toward
business and discipline to stick with it.
THE WAYS ENTREPRENEURS MAY ADOPT TO
Successful entrepreneurs recognize that their
PREVENT BUSINESS FAILURES:
most valuable resource is their time, and they
• Know the business in depth. It is important to learn to manage it effectively to make
note that aspiring entrepreneurs must have themselves and their companies more
the right type of experience in the business productive.
they plan to start.
HANDOUT 2 (DEFINE THE ROLE OF
• Build a viable business model. Before ENTREPRENEUR)
launching a business, an entrepreneur should
define the business model on which s/he AN ETHICAL PERSPECTIVE
plans to build a company and test it,
Business ethics consists of fundamental moral values
preferably with actual customers or potential
and behavioral standards that form the foundation for
customers, to verify that it can be successful.
people in an organization as they make decisions and
• Develop a solid business plan. If an
interact with stakeholders. Maintaining an ethical
entrepreneur’s business model passes the
perspective is essential to creating and protecting a
feasibility test, the next step is to prepare a
company’s reputation.
business plan.
• Understand financial statements. Every THREE LEVELS OF ETHICAL STANDARDS:
business owner must depend on records and
1. The Law. This defines the permissible actions
financial statements to know the condition of
for society and those that are not. The law is
their business.
the narrowest level of ethical standards. It
• Manage financial resources. The best
merely establishes the minimum standard of
revenge against financial problems is to
behavior.
develop a practical information system and
2. Organizational policies and procedures.
use this information to make business
These serve as specific guidelines for people
decisions. No entrepreneur can maintain
in making daily decisions. Policies and
control over a business unless s/he can judge
procedures include a broader definition of
its financial health. The first step in managing
ethical standards beyond what is defined by
financial resources effectively is to have
law.
adequate start-up capital.
3. The moral stance. Employees take this when
• Learn to manage people effectively. No they encounter a situation that is not governed
matter what kind of business you launch, you by levels 1 and 2. It is the broadest and most
must learn to manage people. Every business fundamental definition of ethical standards.
depends on a foundation of well-trained, Morality is what shapes a person's character.
motivated employees. No business owner can
do everything alone. MORAL MANAGEMENT
• Set the business apart from the
THREE MANAGEMENT STYLES:
competition. The formula for almost certain
business failure involves becoming a “me-too- 1. Immoral management. Motivated by selfish
business” merely copying whatever the reasons such as their gains or those of the
competition is doing. Most successful company. The driving force behind immoral
entrepreneurs find a way to convince their management is greed: achieving personal or
customers that their companies are superior organizational success at any cost.
to their competitors even if they sell similar 2. Amoral management. The principal goal of
products or services. amoral managers is to earn profit, but their
actions differ from those of immoral managers
 since they do not purposely violate laws or putting a business in the position of choosing
ethical standards. Instead, amoral managers which groups to satisfy and which to
neglect to consider the impact their decisions eliminate.
have on others. 4. Generate choices. Entrepreneurs must
3. Moral management. Moral managers also generate and evaluate alternative courses of
strive for success but only within the action based on principles and codes of
boundaries of legal and ethical standards, conduct, moral rights, justice, consequences
moral managers are not willing to sacrifice and outcomes, intuition, etc.
their values and violate ethical standards just 5. Choose the best ethical response. There
to make a profit. Managers who operate with likely will be several ethical choices from
this philosophy see the law as a minimum which managers can pick. Comparing these
standard for ethical behavior. choices to the ideal ethical outcome may help
managers make the final decision. The final
choice must be consistent with the
company’s goals, culture, and value system
and those of the individual decision-makers.

COMMON CAUSES OF ETHICAL LAPSES:

• An unethical employee. Ethical decisions are

individual decisions, and some people are
corrupt. Try as they might avoid them, small
businesses occasionally find that they have
hired a “bad apple”. Eliminating unethical
behavior requires eliminating these bad
apples.
• An unethical organizational culture. In some
cases, a company’s culture has been
poisoned with an unethical overtone; in other
5 STEPS PROCESS IN ESTABLISHING AN ETHICAL words, the problem is not the “bad apple” but
FRAMEWORK: a “bad barrel”.
• Moral blindness. Ethical people commit
1. Identify personal principles. Entrepreneurs
unethical mistakes because they are blind to
build the foundation for making ethical
the implications of their conduct. Moral
decisions by understanding how their values
blindness may be the result of failing to realize
come to life in business situations. It starts
that an ethical dilemma exists, or it may arise
with an inventory of the important principles
from a variety of mental defense mechanisms.
that define one’s values. The entrepreneur
• Competitive pressures. If competition is so
then determines how each of these principles
intense that a company’s survival is
affects each of the major stakeholders of the
threatened, managers may begin to view what
business.
was once unacceptable. Managers and
2. Recognize the ethical dimensions.
employees are under such pressure to
Entrepreneurs must recognize that an ethical
produce that they may sacrifice their ethical
situation exists before making informed
standards to reduce the fear of failure or losing
decisions. Only then is it possible to define the
their jobs.
specific ethical issues involved.
• Globalization of business. The globalization
3. Identify the key stakeholders involved. A
of business has intertwined what once were
multitude of stakeholders influences every
distinct cultures. This cultural cross-
business. Frequently, the demands of these
pollination has brought about many positive
stakeholders conflict with one another,
aspects, but it has created problems as well.
 Companies have discovered no single company’s ethical standards and increases
standard of ethical behavior applies to all the likelihood of employee compliance.
business decisions in the international arena. • Create a culture that emphasizes two-way
Practices illegal in 1 country may be perfectly communication. A thriving ethical
acceptable, even expected, in another. environment requires two-way
communication. Employees must have the
ETHICAL TESTS FOR JUDGING BEHAVIOR AND
opportunity to report any ethical violations
ESTABLISHING ETHICAL STANDARDS:
they observe.
• Utilitarian Principle. Choose the option taken • Developed a code of ethics. A code of ethics
under the greatest good for the greatest is a written statement of the standards of
number of people. behavior and ethical principles a company
• Kant’s categorial imperative. Act so that the expects from its employees. A code of ethics
action taken under the circumstances could spells out what kind of behavior is expected
be a universal law or rule of behavior. and what kind will not be tolerated.
• The professional ethics. Take only those • Enforce the code of ethics through policies.
actions that a disinterested panel of Set appropriate policies for your organization.
professional colleagues would view as proper. Communicate with them regularly and adhere
• The golden rule. Treat other people the way to them yourself so that others can see.
you would like them to treat you. • Recruit and promote ethical employees.
• The television test. Consider if an individual Ultimately, the decision in any ethical
would feel comfortable explaining his/her situation belongs to the individual. Hiring
actions to a national TV audience. people with strong moral principles and
• The family test. Consider of an individual values is the best assurance against ethical
would feel comfortable explaining his/her violations.
actions to his/her children, spouse, and To make ethical decisions, people must.
parent. 1. Ethical Commitment – the personal
resolve to act ethically and do the right
WAYS TO REMAIN ETHICAL STANDARDS: thing.
• Set the tone. If entrepreneurs and their 2. Ethical Consciousness – the ability to
managers talk about the importance of ethics perceive the ethical implications of a
and act in an unethical manner, they send situation.
mixed signals to employees. Workers believe 3. Ethical Competency – the ability to engage
the actions of those in charge more than their in sound moral reasoning and develop
words. practical problem-solving strategies.
• Create a company credo. A company credo • Conduct ethics training. Instilling ethics in an
(creed) defines the values underlying the organization’s culture requires more than
entire company and its ethical responsibilities creating a code of ethics and enforcing it.
to its stakeholders. It offers general guidance Managers must show employees that the
on ethical issues. The most effective credos organization truly is committed to practicing
capture the elusive essence of a company ethical behavior.
(what it stands for and why it’s important). • Reward ethical conduct. If you reward a
• Establish high standards of behavior. It is behavior, people tend to repeat the behavior.
essential to emphasize the importance of • Separate related job duties. Not allowing the
ethics. All employees must understand that employee who writes checks to reconcile the
ethics is not negotiable. company bank statement is one example.
• Involve employees in establishing ethical • Perform periodic ethical audits. One of the
standards. Encourage employees to offer best ways to evaluate the effectiveness of an
feedback on how to establish standards. ethics system is to perform periodic audits.
Involving employees improves the quality of a
 These reviews send a signal to employees that employee giving to the fund by committing to
ethics is not just a fad. company matching donations for their gifts.
• Support local causes. Work with the
SOCIAL ENTREPRENEURSHIP
employees to identify local causes that the
Social entrepreneurs are people who start businesses business can support by offering publicity for
to create innovative solutions to society’s most vexing that cause.
problems. They see themselves as change agents for • Partner with local schools. Partner with local
society. Social entrepreneurs find the resources to schools by providing supplies and
tackle challenging global economic issues, including encouraging employees to serve as
pollution, habitat destruction, human rights, AIDS, volunteers. Mentor young people through a job
hunger, poverty and others. shadowing program.

Social entrepreneurship can be characterized by the BUSINESS RESPONSIBILITY

following:
ENVIRONMENT
• SE seeks solutions for social problems that
Companies have discovered that sound
are met by neither the market nor the
environmental practices make for good business. In
government.
addition to lowering their operating cost,
• SE creates social benefits rather than
environmentally safe products attract
commercial success.
environmentally conscious customers and give a
• SE tackles social problems by taking full
company a competitive advantage edge.
advantage of natural market forces.
Socially responsible business owners focus on the
Social entrepreneurs use their creativity to develop
three (3) Rs.
solutions to social problems that range from cleaning
up the environment to improving working conditions • Reduce the amount of energy and, materials
for workers worldwide. Their goal is to use their used in the company, from the factory to the
business to make money and make the world a better copier room.
place to live. • Reuse whatever they can.
• Recycle the materials that they must dispose
SOCIAL RESPONSIBILITY
of.
SIMPLE WAYS FOR SMALL BUSINESS TO SOCIALLY
EMPLOYEES
RESPONSIBLE:
Few other stakeholders are as important to a business
• Encourage recycling. Place recycling bins
as its employees. It is common for managers to say
throughout the workplace. Use recycled
that their employees are their most valuable resource,
products if possible.
but the truly excellent ones treat them that way.
• Support local fundraisers. Provide local
Employees are at the heart of productivity increases,
fundraiser events with donated products or
and they add the personal touch that puts passion in
services.
customer service. In short, employees produce a
• Join in a community service. Allow
winning competitive advantage for an entrepreneur.
employees to participate in a community
volunteer projects on company time. ENTREPRENEURS WHO UNDERSTAND THE VALUE
• Reduce energy usage. Encourage employees OF THEIR EMPLOYEES FOLLOW A FEW SIMPLE
to help find ways to reduce energy PROCEDURES BY DOING THE FOLLOWING:
consumption in your business.
Listening to employees and respecting their opinions;
• Create a grant program. Set up a fund that
local nonprofits can apply to for small grants. • Asking for their input and involving them in the
Create a matching program to encourage decision-making process;
 • Providing regular feedback (positive and CUSTOMERS
negative) to employees;
Building and maintaining a base of loyal customers is
• Telling them the truth;
not easy because it requires more than just selling
• Letting them know exactly what’s expected of
products or services. The key is to build long-term
them;
relationships with customers.
• Rewarding employees for performing their
jobs well; and BASIC CONSUMER RIGHTS:
• Creating an environment of respect and
• Right to safety. Basic consumer rights.
teamwork.
Companies have the responsibility to provide
Managing a culturally diverse workforce presents a their customers with safe, quality products
real challenge for employers. Molding workers with and services.
highly varied beliefs, backgrounds, and biases into a • Right to know. Consumer have the right to
unified team takes time and commitment. honest communication about the products
Stereotypes, biases, and prejudices present barriers and services they buy and the companies that
workers and managers must constantly overcome. sell them.
The goal of diversity efforts is to create an environment • Right to be heard. Its suggests that the
in which all types of workers can flourish and give top channels of communication between
performances to their companies. companies and their costumers run in both
directions. Socially responsible businesses
provide customers with a mechanism for
WAYS TO ACHIEVE DIVERSITY:
resolving complaints about products and
1. Study. Entrepreneurs must familiarize services.
themselves with issues related to diversity, • Right to education. Socially responsible
including relevant laws. companies give customers access to
2. Plan. Entrepreneurs must set targets for educational material about their products and
diversity hiring and developing a plan for services and how to use them properly. The
achieving them by recognizing the makeup of goal is to give customers enough information
the local population. to make informed purchase decisions.
3. Lead. Entrepreneurs must communicate their • Right to choose. Inherent in the free
vision and goals to everyone in the company. enterprise system is the consumer’s right to
4. Encourage. Entrepreneurs must encourage choose among competing products and
employees at all levels of the organization to services. Socially responsible companies do
embrace the diversity plan. not restrict competition, and they abide by
5. Notice. Entrepreneurs must monitor their basic laws that promote free trade and
companies’ progress toward achieving competition in the market.
diversity goals.
INVESTORS
6. Discussion. Entrepreneurs must keep
diversity on the company’s radar screen by Companies have the responsibility to provide
communicating the message that diversity is investors with an attractive return on their
vital to business success. investments. Although earning a profit may be a
7. Inclusion. Entrepreneurs must involve company’s first responsibility, it is not its only
employees in the push to achieve diversity to responsibility; meeting its ethical and social
break down barriers that arise. responsibility goals is also the key to success.
8. Dedication. Entrepreneurs must be Investors today want to know that entrepreneurs are
persistent in implementing their plans making ethical decisions and acting in a socially
because achieving diversity in a business does responsible manner. Those who invest in
not happen overnight. entrepreneurial ventures are a small community.
COMMUNITY ENTREPRENEURSHIP results from a disciplined,
systematic process of applying creativity and
As corporate citizens, businesses have a
innovation to needs and opportunities in the
responsibility to the communities in which they
marketplace. It involves applying focused strategies to
operate. In addition to providing jobs and creating
new ideas and new insights to create a product or a
wealth, companies contribute to the local community
service that satisfies customers’ needs or solves their
in many different ways. Socially responsible
problems.
businesses are aware of their duty to put back into the
community some of what they take out as they CREATIVE THINKING
generate profits; their goal is to become a neighbor of
The left brain is guided by linear, vertical thinking (from
choice. Experts estimate that 80 percent of
a logical conclusion to the next). In contrast, the right
companies worldwide engage in some type of socially
brain relies on kaleidoscopic, lateral thinking
responsible activity.
(considering a problem from all sides and jumping into
WAYS SMALL BUSINESSES HAVE FOUND TO GIVE it at different points). The left brain handles language,
BACK TO THEIR COMMUNITIES: logic, and symbols, while the right brain takes care of
the body’s emotional, intuitive, and spatial functions.
• Act as a volunteer for community groups such
The left-brain processes information in a step-by-step
as the Philippine Red Cross, literacy programs,
fashion, but the right brain processes it intuitively,
and community food banks.
relying heavily on images. Thus, it is this right-brain
• Participate in projects that aid the elderly or lateral thinking that lies at the heart of the creative
economically disadvantaged. process.
• Adopt a highway near the business to promote
a clean community. THOSE WHO HAVE LEARNED TO DEVELOP THEIR
• Volunteer in school programs RIGHT-BRAIN THINKING SKILLS TEND TO DO THE
FOLLOWING:
HANDOUT 3 (INSIDE THE ENTREPRENEURIAL MIND)
• Challenge custom, routine, and tradition.
CREATIVITY, INNOVATION, AND • Know that generating multiple ideas increases
ENTREPRENEURSHIP the likelihood of coming up with a few highly
CREATIVITY is the ability to develop new ideas and creative ideas.
discover new ways of looking at problems and • Play mental games, trying to see an issue from
opportunities. different perspectives.
• Realize that there may be more than one (1)
INNOVATION is the ability to apply creative solutions “right answer.”
to those problems and opportunities to enhance or
• See problems as springboards for new ideas.
enrich people’s lives.
• Understand that failure is a natural part of the
WAYS SMALL BUSINESS CREATE INNOVATIONS: creative process.
• Relate seemingly unrelated ideas to a problem
• Reactively. Response to customer feedback to generate innovative solutions.
or changing market conditions.
• Proactively. Spotting new market Successful entrepreneurship requires both left- and
opportunities. right-brain thinking. Right-brain thinking draws on the
• Revolutionary. Creating market-changing, power of divergent reasoning, which can create a
disruptive breakthroughs resulting from multitude of original, diverse ideas. Left-brain thinking
generating something from nothing. counts on convergent reasoning, the ability to
• Evolutionary. Developing market-sustaining evaluate multiple ideas and choose the best solution
ideas that elaborate on existing products, to a given problem. Entrepreneurs need to rely on
processes, and services. right-brain thinking to generate innovative products,
services, or business ideas. Then they must use left-
brain thinking to judge the market potential of the
ideas they generate. 1. Preparation. Getting the mind ready for
creative thinking. Preparation might include
formal education, on-the-job training, work
3 COMPONENTS OF CREATIVITY:
experience, and other learning opportunities.
1. Expertise. An individual must have technical, 2. Investigation. Requires individual to develop
procedural, and conceptual knowledge to a solid understanding of the problem,
generate potential solutions to a problem. situation, or decision at hand.
2. Thinking skills. A person must possess the 3. Transformation. This step involves viewing
willingness to take risks and to see problems the similarities and differences among the
or situations from different perspectives. collected information.
3. Motivation. An individual must have the Two types of thinking:
internal desire to develop creative solutions. Convergent – the ability to see similarities and
This motivation often comes from the connections among diverse data and events.
challenges that the work itself represents. Divergent – ability to see the differences.
4. Incubation. This steps involves reflecting on
10 KEYS TO BUSINESS INNOVATION the collected information.
1. Business model. Involves creating WAYS TO ENCHANCE THE INCUBATION
innovations in the value proposition of a PHASE OF THE CREATIVE PROCESS:
company. The value proposition is reflected in ➢ Walk away from the situation
how a firm delivers value to its customers. ➢ Take the time to daydream
2. Networks and alliances. These involve ➢ Relax and play regularly
forging a synergistic relationship with another 5. Illumination. This step occurs during the
organization in which each company’s incubation stage when a spontaneous
strengths complement the other. breakthrough results in new developments of
3. Organizational structure. This involves ideas.
establishing an appropriate culture to align 6. Verification. This step involves validating an
talents and spark innovation. idea as realistic and useful by conducting
4. Core process. This involves establishing experiments, running simulations, test-
superior business systems and work methods marketing a product service, establishing
that result in benefits for customers. small-scale pilot programs, building
5. Product or service performance. This prototypes, and many other activities
involves creating the functions and features of designed to verify that the new idea will work
a company’s commodities over those of and is practical to implement.
competitors. 7. Implementation. This step involves
6. Product system. This involves linking multiple transforming the idea into reality.
products into a platform.
7. Service. This involves providing the value-
added provision beyond the company’s
products for customers.
8. Channel. This involves making the firm’s
products or services available to customers
9. Brand. This involves establishing a company’s
identity in the market.
10. Customer experience. This involves engaging
customers and giving them reasons to come
back to make future purchases.

CREATIVE PROCESS INVOLVES 7 STEPS: