WHO WANTS TO LOOK SMART AND BEAUTIFUL? HOW DO YOU MAINTAIN BEAUTY? Objectives: - discuss how to generate a business idea that relates with a career choice in Beauty Care Services, specifically Nail Care; - discuss SWOT analysis - Generate a business idea based on the SWOT analysis SPOTTING AND IDENTIFYING BUSINESS OPPORTUNITIES IDEA GENERATION GOOD SOURCES OF BUSINESS IDEAS PERSONAL HOBBIES AND INTEREST SUGGESTIONS FROM FAMILY MEMBERS AND FRIENDS PROBLEMS THAT NEED SOLUTION & PROBLEMS WITH EXISTING PRODUCTS BOOKS, MAGAZINES AND NEWS OBSERVING SCREENING BUSINESS IDEAS SCREENING BUSINESS IDEAS 1. PERSONALITY AND PERSONAL PREFERENCE 2. CHARACTERISTICS OF A GOOD BUSINESS PERSONALITY AND PERSONAL PREFERENCE A. PERSONAL PREFERENCE B. EDUCATION, SKILLS, AND EXPERIENCE C. WORK EXPERIENCE D. SUPPORT FROM FAMILY AND FRIENDSPERSONALITY AND PERSONAL PREFERENCE CHARACTERISTICS OF A GOOD BUSINESS A. DEMAND FOR PRODUCT B. AVAILABILITY OF SKILLS, RAW MATERIALS, TECHNOLOGY, AND CAPITAL C. PROFITABILITY SWOT ANALYSIS Strengths - Positive factors that contribute to the favorability of a business opportunity Weaknesses - Set of problems, difficulties or shortcomings encountered by the business Opportunities - Positive factors that are not within the control of the business Threats - Negative factors that are beyond the control of the business Group work 1. 2. 3. The class will be grouped by pair. Each pair will generate a business idea that relates with a career choice in Nail Care Services and base it on SWOT analysis. Each pair will be given 15 mins to answer.