CHAPTER 2 Flashcards
involves using digital tools, social media, and e-commerce platforms to launch and grow businesses.
Online entrepreneurship
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.
Nina Ellaine Dizon (Colourette Cosmetics)
Created a sustainable fashion brand empowering local artisans.
Reese Fernandez-Ruiz (Rags2Riches)
Built a retail empire and adapted to e-commerce with ShopSM.
Henry Sy (SM Group)
was a Filipino food scientist, chemist, and war hero who is best known for inventing banana ketchup
Maria Orosa (1893–1945)
explains how entrepreneurs identify and develop business opportunities
The Opportunity Recognition Theory
Saw the need for cashless transactions and created fintech solutions for Filipinos
GCash & PayMaya
is an approach to building businesses and products efficiently and effectively
The Lean Startup Methodology, introduced by Eric Ries
refers to any kind of business activity conducted over the internet.
Online business
15 TYPES OF ONLINE BUSINESS
- E-Commerce Store
- Dropshipping Business
- Online Marketplace
- Print-on-Demand Business
- Subscription-Based Business
- Affiliate Marketing
- Online Coaching & Consulting
- Digital Course & E-Learning Business
- Blogging & Content Creation
- YouTube Channel / Vlogging
- Social Media Influencing
- Freelancing & Remote Services
- Online Reselling / Buy-and-Sell
- Mobile App Development
- Software as a Service (SaaS)
an online shop that sells physical or digital products directly to consumers.
E-Commerce Store
a retail model where sellers list products online but rely on third-party suppliers for inventory and shipping.
Dropshipping Business
a platform where multiple sellers list their products for buyers to purchase.
Online Marketplace
a business that customizes and prints products like T-shirts, mugs, phone cases only after receiving an order.
Print-on-Demand Business
a business model where customers pay a recurring fee to access products or services.
Subscription-Based Business
earning commissions by promoting other companies products through referral links or content.
Affiliate Marketing
professionals offer personalized advice, training, or coaching through virtual platforms
Online Coaching & Consulting
selling educational materials, training, or courses online.
Digital Course & E-Learning Business
writing blogs, creating videos, or
producing digital content that earns through ads, sponsorships, or affiliate marketing.
Blogging & Content Creation
a creating video content and
monetizing through ads, sponsorships, and memberships. Cong TV – A famous Filipino YouTuber earning through brand deals and ads.
YouTube Channel / Vlogging
building an online following and earning through brand sponsorships, collaborations, and exclusive content.
Social Media Influencing
providing professional services like writing, graphic design, web development, and virtual assistance.
Freelancing & Remote Services
buying products at a lower price
and reselling them online for profit.
Online Reselling / Buy-and-Sell
creating and selling mobile applications for various industries. GCash App – A popular Filipino fintech app for digital payments.
Mobile App Development
offering software solutions on a
subscription basis. PayMongo – A Filipino startup providing online
payment solutions for businesses.
Software as a Service (SaaS)
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) – For Sole Proprietors
If you want to register a partnership or corporation, you must register with ___.
— registration is required for bigger businesses, such as those seeking investors or planning to scale.
Securities and Exchange Commission (SEC) For Corporations & Partnerships
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
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)
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)
an Austrian economist, introduced the Innovation Theory of Entrepreneurship, which states that “entrepreneurs drive economic growth by introducing innovations” that disrupt existing markets and create new opportunities.
Joseph Schumpeter
