Richard Sterwen L.

Lofranco BSECE-5

Engineering Management

Supposing you were given a capital to start a business in your community,

 What kind of business would you venture?

The business that I would venture in the community as a pioneer in technology

and as an Electronics Engineer is the Building Electronics on which it combines
technologies in developing solutions tailored to the building’s and users’
requirements.

Some of the services that this business provides are network design which
provides network design thru detailed planning, and physical security to protect
assets and facilities through physical security solutions such as IP surveillance,
access controls and burglar alarm systems.

 How will you start up your business?

In order to start my business I would need to identify if my business has the

potential to succeed.

Then I will make my business idea turns into reality by making a business plan,
this will guide me from the start up phase through establishment and eventually
business growth.

And of course, paperwork is a part of the process when starting your own
business. I would apply and get my licenses and permits in order for my business to
operate.

And once my business is up and running, I need to start attracting clients and
customers. This can be achieved by creating a marketing plan so that I can decide
how to promote my business effectively.
 Would you go to explore possible business services or products to sell around your
community? Discuss your answer.

Yes I would go and explore possible business services or products to sell around
my community because this will be a determinant if my business has its potential to
succeed or to fail miserably.

 Would you seek advice from those who have experience or just do things on your
own? Discuss your answer.

I would seek advice from those who have experienced and ahead of me in this
business because this business would require an extensive and technical knowledge
specifically in engineering designs.

This business would also require great marketing and management skills that’s
why asking for help and advices are the best way to fill in the gaps that I have when
starting this business.

 What are the things that you would consider in putting up your own business?

The first thing that I would consider in putting up my own business is to know
what are the things that the people in the community willing to pay for.

Then evaluate my expertise and knowledge if it matched the skills that the
business requires.

 Would you immediately start or equip yourself by attending seminars of training

related to the business that you will put up? Discuss.

I would rather equip myself by attending seminars and trainings related to the
business that I will put up because this will give me an advantages and skills to
manage my business properly and also to learn about the latest trend so that my
business will adapt accordingly with the passage of time.