Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

E-Commerce > Chapter 2 > Flashcards

Chapter 2 Flashcards

1
Q

involves using digital tools, social media, and e-commerce platforms to launch and grow businesses.

A

ONLINE ENTREPRENEURSHIP

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

It is driven by a tech-savvy youth population, growing gig economy, and increasing mobile usage.

A

ONLINE ENTREPRENEURSHIP

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

A Filipino entrepreneur and social media personality, best known as the founder and CEO of Colourette Cosmetics, a local beauty brand that promotes inclusivity, affordability, and high-quality makeup products suited for Filipina skin tones.

A

Nina Ellaine Dizon (Colourette Cosmetics)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Created a sustainable fashion brand empowering local artisans.

A

Reese Fernandez-Ruiz (Rags2Riches)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Built a retail empire and adapted to e-commerce with ShopSM.

A

Henry Sy (SM Group)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

an Austrian economist, introduced the Innovation Theory of Entrepreneurship

A

Joseph Schumpeter

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

which states that entrepreneurs drive economic growth by introducing innovations that disrupt existing markets and create new opportunities.

A

SCHUMPETER’S INNOVATION THEORY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

explains how entrepreneurs identify and develop business opportunities

A

OPPORTUNITY RECOGNITION THEORY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

was a Filipino food scientist, chemist, and war hero who is best known for inventing banana ketchup and other food innovations that helped sustain Filipinos during wartime. During the American colonial period, tomatoes were scarce in the Philippines, but bananas were abundant.

A

Maria Orosa (1893–1945)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

It suggests that opportunities exist independently or are created by entrepreneurs who recognize and act on them.

A

OPPORTUNITY RECOGNITION THEORY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Saw the need for cashless transactions and created fintech solutions for Filipinos.

A

GCash & PayMaya

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

The Lean Startup Methodology, introduced by

A

Eric Ries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

is an approach to building businesses and products efficiently and effectively by minimizing risks and maximizing learning.

A

LEAN STARTUP METHODOLOGY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

It focuses on rapid experimentation, customer feedback, and iterative development rather than spending years perfecting a product before launch.

A

LEAN STARTUP METHODOLOGY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Food businesses testing products through social media before investing in mass production. Lazada & Shopee started with basic online marketplaces and continuously improved based on seller and buyer feedback.

A

LEAN STARTUP METHODOLOGY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

refers to any kind of business activity conducted over the internet.

A

ONLINE BUSINESS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

This can include e-commerce, digital marketing, online services, and other forms of internet - based commercial activities.

A

ONLINE BUSINESS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

TYPES OF ONLINE BUSINESS

A
  1. E-Commerce Store
  2. Dropshipping Business
  3. Online Marketplace
  4. Print-on-Demand Business
  5. Subscription-Based Business
  6. Affiliate Marketing
  7. Online Coaching & Consulting
  8. Digital Course & E-Learning Business
  9. Blogging & Content Creation
  10. YouTube Channel / Vlogging
  11. Social Media Influencing
  12. Freelancing & Remote Services
  13. Online Reselling / Buy-and-Sell
  14. Mobile App Development
  15. Software as a Service (SaaS)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

an online shop that sells physical or digital products directly to consumers.

A

E-Commerce Store

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

a retail model where sellers list products online but rely on third-party suppliers for inventory and shipping.

A

Dropshipping Business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

a platform where multiple sellers list their products for buyers to purchase. Lazada & Shopee – Popular marketplaces where businesses and individuals sell various products.

A

Online Marketplace

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

a business that customizes and prints products like T-shirts, mugs, phone cases only after receiving an order.

A

Print-on-Demand Business

23
Q

allowing artists to sell custom-designed merchandise.

A

Print-on-Demand Business

24
Q

a business model where customers pay a recurring fee to access products or services.

A

Subscription-Based Business

25
earning commissions by promoting other companies products through referral links or content.
Affiliate Marketing
26
professionals offer personalized advice, training, or coaching through virtual platforms.
Online Coaching & Consulting
27
A well-known Filipino coach providing online educational content and training.
Coach Lyqa Maravilla
28
selling educational materials, training, or courses online
Digital Course & E-Learning Business
29
An online learning platform where experts sell digital courses.
Nas Academy Philippines
30
writing blogs, creating videos, or producing digital content that earns through ads, sponsorships, or affiliate marketing.
Blogging & Content Creation
31
creating video content and monetizing through ads, sponsorships, and memberships
YouTube Channel / Vlogging
32
A famous Filipino YouTuber earning through brand deals and ads.
Cong TV
33
building an online following and earning through brand sponsorships, collaborations, and exclusive content.
Social Media Influencing
34
Partners with brands for sponsored posts.
Anne Curtis on Instagram
35
providing professional services like writing, graphic design, web development, and virtual assistance.
Freelancing & Remote Services
36
buying products at a lower price and reselling them online for profit.
Online Reselling / Buy-and-Sell
37
creating and selling mobile applications for various industries
Mobile App Development
38
A popular Filipino fintech app for digital payments.
GCash App
39
offering software solutions on a subscription basis.
Software as a Service (SaaS)
40
A Filipino startup providing online payment solutions for businesses.
PayMongo
41
CHALLENGES OF ONLINE BUSINESS
High Competition Building Customer Trust Logistics and Delivery Issues Digital Payment Challenges Changing Online Trends Cybersecurity and Data Privacy Risks Customer Service and Returns
42
OPPORTUNITIES OF ONLINE BUSINESS
Low Startup Costs Flexible Work Setup Data-Driven Decisions Diverse Revenue Streams Scalability Emerging Digital Solutions
43
Starting an online business in the Philippines requires compliance with government regulations, including
business registration, tax obligations, and data privacy laws.
44
For Sole Proprietors If you are running a small online business under your name, you need to register your Business Name with the ___
Department of Trade and Industry (DTI)
45
Registration is valid for 5 years and can be done online via Business Name Registration System.
Department of Trade and Industry (DTI)
46
If you want to register a partnership or corporation, you must register with the ____.
Securities and Exchange Commission (SEC)
47
is required for bigger businesses, such as those seeking investors or planning to scale.
Securities and Exchange Commission (SEC)
48
After DTI or SEC registration, you must secure Barangay Business Clearance, Mayor’s Business Permit, and Fire Safety Inspection Certificate.
Local Government Unit (LGU) – Mayor’s Permit & Barangay Clearance
49
All online businesses must register with the ___ and get a Certificate of Registration.
Bureau of Internal Revenue (BIR) – Tax Registration
50
Online sellers must issue Official Receipts and Sales Invoices to customers.
Bureau of Internal Revenue (BIR) – Tax Registration
51
DATA PRIVACY AND CONSUMER PROTECTION LAW
Data Privacy Act of 2012 (RA 10173) E-Commerce Protection Under the Consumer Act (RA 7394)
52
Online businesses that collect customer data (name, email, address) must: Secure customer information from leaks and hacking. Not sell or misuse personal data without consent. Follow NPC (National Privacy Commission) guidelines. If you run an online store and collect customer addresses for delivery, you must not share this information without consent.
Data Privacy Act of 2012 (RA 10173)
53
Online businesses must disclose: Business name and contact details Product details and prices Refund and return policies A Facebook live seller must show the actual product price and offer a fair return policy.
E-Commerce Protection Under the Consumer Act (RA 7394)
54

E-Commerce (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions