Chapter 3 Flashcards
Working with or extraction of raw materials/natural resources
Primary
Making or converting raw materials into usable products through processing and manufacturing.
Secondary
Service industries or providing essential services and support to allow other levels of industry to function
Tertiary
Dramatic growth of this new sector. Working with creation and transfer of information (ICT, media sharing) including research and development. As well as knowledge based services like consultation.
Quaternary
control the industrial and government decision-making processes includes industry executives and management and bureaucrats and elected officials in government
Quinary
is a detailed classification of industries prevailing in the country according to the kind of productive activities undertaken by establishments.
Philippine Standard Industrial Classification (PSIC).
An agribusiness tends to be large scale operations and deals with farming, processing and manufacturing, packaging and distributing agricultural products.
Agribusiness
Swine raising is raising and breeding of domestic pigs as livestock.
Hog/pig raising
Raising of domesticated birds such as chickens, ducks, turkeys and geese to produce meat or eggs for food
Poultry farming
Raising of cattlefor milk, beef, and hides.
Cattle raising
Planting rice for rice production
Rice farming
Raising goats for milk and meat
Goat raising
Planting corn for consumption
Corn farming
Raising fish in a pen such as catfish, oyster, prawns, pangasius, bangus or tilapia is fun and exciting business, each species needs different environment to grow either fresh or salt water.
Fish pens
Planting veggies is an agribusiness specially learn how to plant off – season varieties.
Vegetable farming
The process of converting raw materials, components, or parts into finished goods that meet a customer’s expectations or specifications.
Manufacturing
bread making is easy and simple business that can be done at home
Commercial Bread Making
business that produce different soap products.
Soap Manufacturing business
Business that sell drinking water package in a plastic bottles or container.
Drinking Water Business
make or create furniture such as lockers, bookshelves, showcases, chairs, tables, etc
Furniture Making
Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit and usually it’s done directly to its final consumer
Retail and Services
The term “_______” is also applied where a service provider services the small orders of a large number of individuals
retailer
Contemporary art galleries, Bookstores, Handicrafts, Musical instruments, Gift shops, and supplies for them.
Arts
clothing, other fabrics, footwear, cosmetics, medicines and stationery. Goods that are consumed after one use or have limited period (typically under three years) in which you may use them.
Soft goods or consumables
these are automobiles, appliances, electronics, furniture, sporting goods, lumber, etc., and parts for them. Goods that do not quickly wear out and provide utility over time.
Hard goods or durable goods
typically require cold storage facilities.
Food product
A product that is sold to the global market is an __________
Export
a product that is bought from the global market is an ___________
Import
is the exchange of capital, goods, and services across international borders or territories, significant share of gross domestic product (GDP).
International Trade
enables small business owners to identify the threats and opportunities facing their businesses, and to focus their resources on developing unique capabilities that could lead to a competitive advantage.
Industry analysis
is a tool that facilitates a company’s understanding of its position relative to other companies that produce similar products or services.
Industry Analysis
According to Robert Grant, author of “________________” an environmental analysis surveys the business landscapes to determine how external variables will affect its decision making.
Contemporary Strategy Analysis
According to who and author of “Contemporary Strategy Analysis” that says an environmental analysis surveys the business landscapes to determine how external variables will affect its decision making?
Robert Grant
identify and evaluate as to how these environmental changes will affect our business so that appropriate counter strategies can be made well in time.
Evaluation and Assessment
an essential element in environment analysis. is concerned with estimation of direction and intensity of changes in environment factors.
Forecasting
needed to manage the timely availability of required information by _________ . Many organizations have management information system for systematic gathering, processing, storing and providing information.
Searching and Scanning
means to understand the various environment factors which affect the business and to identify published or unpublished sources of information which affect business. Eg. newspapers, magazines and journals
Monitoring-
most widely known industry analysis is
Porter’s 5 Forces or Competitive Forces Model
introduced by ___________ in his 1980 book “Competitive Strategy: Techniques for Analyzing Industries and Competitors.”
Michael Porter
4Ps full
rice, product, promotion and place
A business must be scalable for it to be successful.
Scalability
A business is no more effective than the idea upon which it is built. Business creates its own plan to expand its economic growth.
Big Ideas
A business is a system in which all parts contribute to the success or failure of the whole.
System
A business must be dynamic- able to thrive through all economic conditions, in all markets, providing meaningful highly differentiated results to all of its customers.
Sustainability
Without continued growth, operations will stagnate. This can result in lowered standards of quality for products or services, decreased customer service, and poor employee morale.
Growth
A business creates a standard against which all businesses are measured as either successful, or not.
Standards
A business is an economic entity, driving an economic reality, creating an economic certainty for the communities in which it thrives.
Profitability
A business is not part of the owner’s life, but is, in fact, its own entity.
Autonomy
A business must manifest the higher purpose upon which it was seeded, the vision it was meant to exemplify, the mission it was intended to fulfil.
Vision
A business is the fruit of a Higher Aim in the mind of the person who conceived it.
Purpose
