Chapter 1 Flashcards
(20 cards)
a small portion of an industry
business
owned by a single individual who is singly responsible for running the business and is accountable for all debts and obligations related to the business.
sole proprietorship
an agreement in which two or more persons combines their resources in a business with a view to making profit.
partnership
two types of partnership
-general partnership
-limited partnership
All owners share the management of the business and each is personally responsible for and must assume the consequences of the actions of the other partners.
general partnership
partners have unlimited liability which means loan payments will extend to their personal property
general partnership
Some members are general partners who control and manage the business and may be entitled to a greater share of the profit while other partners are limited and contribute only capital
limited partnership
legal entury that is separate from its owners, the shareholders.
corporation
Directors and officers can bear liability for their involvement with the corporation.
corporation
below PHP 1,500,001
micro business
PHP1,500,001 to PHP15,000,000
small business
PHP15,000,001 to PHP60,000,000
medium business
PHP60,000,000
large business
key factors that must be considered in analyzing the industry are the following:
-the geographic area in which your business will cater to
-the size and outlook of the industry
-description of the product
-the buyers have to be indentified
-the regulatory environment
-the need to identify the leading business in the industry
-factors that will affect the growth of the business
was created in the 1960s by business gurus, Edmund P. Learned, C. Roland Christensen, Kenneth Andrews, and William D.
SWOT analysis
created in the 1960s by business gurus
-edmund p learned
-c. roland christensen
-kenneth andrews
-william d
SWOT
-strengths
-weaknesses
-opportunities
-threats
analytical framework that can help a company meet its challenges and identify new markets.
SWOT
swot internal factors
-financial resources
-physical resources
-human resources
-access to natural resources
-current processes
swot external factors
-economic trends
- market trends
-national and local laws and statutes as well as political, environmental and economic regulations
-demographic characteristics of the target market
-relationship with suppliers and co-owners
-competitive threats
