The Utilization of Business Plans in Enhancing the Entrepreneurial Competencies of the Alangilan Senior High School

Abstract

Given the current economic challenges facing many countries across the globe, greater entrepreneurial activity has become a prominent goal. The standard of choosing an entrepreneur in today's generation has been tightened up wherein the skills of an individual are evaluated and measured. That is why educators recognize the importance of entrepreneurship as a promoter of economic development and hence, support instruments like entrepreneurial activities, business plan and livelihood programs. These allow them to maneuver through the rocky landscape of the business world, and onto the right path of success. This study made use of descriptive-quantitative research design to determine the utilization of business plan in enhancing the entrepreneurial competencies of Alangilan Senior High School. The use of researchers-constructed questionnaire was the main data-gathering instrument. The respondents were the 266 Accountancy, Business and Management students SY 2018-2019. Statistical tools used were frequency, weighted and ANOVA. After careful analysis and interpretation of data gathered, the researchers found out that majority of respondents had high weighted mean on marketing skills as one of the features of the business plan. This also further revealed that the effectiveness of utilizing business plan in enhancing the entrepreneurial competencies gave the respondents an idea for starting a business with a weighted mean of 3.70. In addition, financial management skills were developed through ABM Caravan. It was also revealed that marketing and financial obtained a significant difference in the effects of utilizing business plan in enhancing the entrepreneurial competencies when grouped according to the features of the business plan. This implies that marketing skills enable entrepreneurs to analyze the competition, the market place and industry trends. Meanwhile, financial skills help entrepreneurs run the business profitability, protect financial investment and effectively manage finances. Thus, the business plan was proposed to enhance the entrepreneurial competencies of Alangilan Senior High School. The result of this study served as baseline information in the provision of school programs and activities involving the utilization of business plans through ABM Caravan in developing the entrepreneurial competencies of the students of Alangilan Senior High School. Thus, future researchers may conduct a parallel study to test the validity and reliability of the study.