In developing a business plan we also have to consider the importance of the 4M’s of operations in all business opportunities the Manpower, Method, Machine, and Materials, because it helps you to identify the problems of the business in the future and in actual situations especially in the production process and marketing. In this module, you are guided with a set of learning parts that will help you understand the underlying principles of entrepreneurship. Substantial knowledge of entrepreneurial principles and processes is important as this increases the chances of making your business successful. It allows you to experience starting and operating your own business. It helps you understand the environment and market in your locality as a factor in developing a business concept.ģ. It outlines the concepts and basic principles, and processes of developing a business plan.Ģ.

So, what does this module provide you towards reaching your dreams?ġ. But what do these terms mean? You may refer to an entrepreneur as the person managing the business and entrepreneurship as the business venture. You may often hear the word entrepreneur and entrepreneurship. Starting your own business is a good beginning towards fulfilling your dreams. It is not chance that gives you millions, instead being a millionaire is a result of hard work and determination. Have you ever dreamed of becoming the next multi-millionaire? If you’re thinking that winning the lottery is the only way to become one, well, think again.

Manpower meaning in entrepreneurship