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Forest Enterprise Development > Chapter 3-4 > Flashcards

Chapter 3-4 Flashcards

1
Q

This is said to be the beginning of
business endeavor

A

Ideation

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2
Q

What should be the first investment of
anyone who seeks to be an entrepreneur

A

Ideation

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3
Q

If you have an idea you should

A

write it

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4
Q

To be a entrepreneurial business opportunity the ______

A

idea should b new or innovative

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5
Q

What are the sources of idea?

A

Consumers/ market in general
Trade Journals
Exhibits
Trade shows

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6
Q

Why is the consumers the best source of idea?

A

Because the are the one who is in need for a certain product

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7
Q

Ideas that are worth a business should be

A

the one that has a market now and in the future

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8
Q

Ideas can be driven by

A

Need/want
Time saving
Money savings
Passion, Talent or ability

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9
Q

Most common ways in developing an idea

A

a. Recognize the need
b. Improving an existing product
c. Recognize trends
d. Be aware of everything
e. Name it first, then develop it

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10
Q

How to protect your ideas?

A

a. Confidentiality agreements
b. Patent
c. Trademark
d. Copyright

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11
Q

A form of contract that specifically provides that a signer (i.e. investor, manufacturer etc.) will not share the idea to anyone.

A

Confidentiality agreement

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12
Q

What should you do if you are preparing for an agreement?

A

Ask advise to those with experience or patent attorneys

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13
Q

What will happen if you violate a confidentiality agreement?

A

Potential fines or legal and reputational repercussions

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14
Q

This gives the inventor exclusive legal rights to exclude anyone else from manufacturing, selling, importing, or using an invention during the life of the patent.

A

Patent

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15
Q

What is a patent?

A

exclusive right to a product, method, design of a new product.

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16
Q

How many years id the protection of patent?

A

20 years

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17
Q

Thomas Edison (1878)

A

Light bulb

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18
Q
  • Steve Jobs and his colleagues at Apple
A

Apple

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19
Q

Alexander Fleming

A

Penicilin

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20
Q

Alexander Fleming

A

Airplane

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21
Q

University of Toronto (Frederick Banting, Charles Best, JJR Macleod) (1923)

A

Insulin

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22
Q

Types of patents

A

Design
Utility
Plant

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23
Q

It means any visible sign capable of distinguishing the goods (________) or services (_______ ___) of an enterprise and shall include a stamped or marked container of goods.

A

trademark, service mark

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24
Q

can be one word, a group of words, sign, symbol, logo, or a combination of any of these to identify their goods and distinguish them from others sold in the market.

A

Trademark

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25
Q

How long is the registration of trademark?

A

10 years renewable to another 10 years as long as it is still used

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26
Q
  • It protects the creative work of composers, authors/writers, artist, and other artist.
A

Copyright

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27
Q

This is the easiest form of protection for Intellectual Property Rights. It is applied to books, pamphlets, articles and other writings, works of drawing, painting, architecture, sculpture, engraving, musical
compositions, with or without words, etc.

A

Copyright

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28
Q

The term of protection of copyright is

A

the life of the author and 50 years after his death

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29
Q

What are the steps in enterprise planning?

A
  1. Idea generation and opportunity identification
  2. Informal Screening
  3. Analysis of the situation
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30
Q

What method is used in idea generation?

A

Brainstorming

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31
Q

This is the process of selecting from the list of ideas and possible opportunities to be pursued.

A

Informal Screening

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32
Q

In informal screening you should select ideas that _______

A

Interest you most and the one with potential to earn profit

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33
Q

The criteria in informal screening:

A

A. Marketability of the product/Availability of demand for the product.
B. Availability of skills
C. Availability of qualified personnel
D. Availability of technology/equipment
E. Availability of raw material
F. Availability of supplier
G. Ease of implementation
H. Perceived profitability
I. Investment requirement
J. Environmental considerations
K. Government support
I. Competitors

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34
Q

This means analyzing the resources which
include the 7 M’s

A

Resource analysis

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35
Q

Tangible resources

A

money, materials, and machines

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36
Q

Intangible resources

A

methods (processes) and moment (time)

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37
Q

Human resources

A

manpower (skills and knowledge) and management (reasoning and decision-making abilities)

38
Q

This includes factors or conditions in the
environment which can affect the business you are planning to set up.

A

Environmental Analysis

39
Q
  • include government regulations and legal issues
A

Political factors

40
Q

affects the purchasing ability of the consumer and the business’ cost of capital

A

Economic factors

41
Q

include the demographic and cultural aspects

A

Socio-cultural factors

42
Q

indicate technological advancement, research, and development

A

Technological factors -

43
Q

include changes in temperature which can affect many industries, including farming and tourism

A

Environmental factors

44
Q

This involves examining the vision and
mission of the business

A

Value analysis

45
Q

It indicates what a business can do

A

Resource analysis

46
Q

Indicates what the business may do

A

Environmental analysis

47
Q

Indicates what the business wants to do

A

Value analysis

48
Q

This is one tool in analyzing the environment to include both the internal and external.

A

SWOT analysis

49
Q

What does the SWOT Analysis studies?

A

Financial resources
Physical Facilities
Management Capabilities
Market
Production process
Information system
Sources of supply and social environment

50
Q

Refer to positive characteristics that the
organization can exploit to achieve its goals.

A

Strengths

51
Q

Refer to positive characteristics that the
organization can exploit to achieve its goals.

A

Weaknesses

52
Q

Refer to positive characteristics of the external environment that have the potential to help the organization achieve or exceed its goals.

A

Opportunity

53
Q

Refer to positive characteristics of the external environment that have the potential to help the organization achieve or exceed its goals.

A

Threats

54
Q

Refer to negative internal characteristics that might inhibit or restrict the organization’s performance.

A

Weaknesses

55
Q

Categories/sectors of business

A

Service-based business
product-based business/trading
manufacturing business
Licensed business opportunities
distributorship
Rack jobber
subcontracting
vending machines routes

56
Q

Examples include consultancy, barber shops, repair shops, beauty parlors, care giving, designing works, rendering professional services such as dentistry, engineers, medical doctor, etc.

A

Service-based business

57
Q

A buy-and-sell transaction that can happen in storehouse, showroom, etc. Examples are grocery stores, drugstores, general construction materials, etc.

A

Trading or product-based business.

58
Q

A ——– or production-based business by creating a product. Examples are creating hand painted T-shirts or ceramic vases, candle making, food processing such as tocino, longganisa, ube jam, strawberry wines etc.

A

Manufacturing business

59
Q

If you find some difficulties in launching a product or service, it is a good idea to look for licensed business opportunities. Franchising is a business format similar to _______ _______ operations.

A

licensed business opportunities.

60
Q

It is where an independent entrepreneur, company, or individual enters into an agreement or contract to offer, sell, or distribute a particular product, but is not entitled to use the manufacturer’s trade name.

A

Distributorship.

61
Q

Involves an agent or buyer entering an agreement with a parent company to market its goods to various stores by means of strategically located store racks.

A

Rack Jobber.

62
Q

A familiar form of business format in the garments sector, as well as the shoe industry. Involves signing up an arrangement with a major producer to complete a set of product components on a pre-agreed price.

A

Subcontracting

63
Q

Placed in various places or locations. Example includes coffee vending.

A

Vending machine routes

64
Q

Things to Consider in Selecting the Best Legal Form of Organization:

A

Ownership
Management
Financing
Liability
Incentives
Taxation
Retention Income
Protection

65
Q

FORMS OF BUSINESS ORGANIZATION

A

Sole proprietorship
Partnership
Corporation
Cooperation

66
Q

A form of business organization initiated, organized, owned or capitalized, and managed by a single person.

A

Sole proprietorship

67
Q

the entrepreneur is the capitalist, he manager, and administrator, and in the beginning of the business, he practically does everything for the business.

A

Sole proprietorship

68
Q

What is called to the owner of a business with one owner?

A

sole/single proprietor

69
Q

What are the advantages of Sole proprietorship?

A

It is easily created and terminated
The actions are direct and undiluted
All the rewards are to the owner
The flexibility
Minimum regulation and taxation

70
Q

What are the disadvantages of Sole proprietorship?

A

Unlimited liability of the owner
Limited capital that restrict growth and expansion
Perils of individual
Limited skills and capabilities of owner

71
Q

An association of two or more business partners who co-own for the purpose of making a profit.

A

Partnership

72
Q

a partnership is treated as _______ ______, having a separate legal personality from that of its members.

A

juridical person

73
Q

Type of partners

A

General partner
Limited partner

74
Q

Type of partner that is the one who shares ownership and management of the business, and is liable to the extent of his separate property after all the assets of the partnership are exhausted.

A

General partner

75
Q

Every partnership must have at least one ______ _______.

A

General partner

76
Q

Refers to partners with limited financial liability and do not take active role in the management of the firm. He is also liable only to the extent of his capital contribution.

A

Limited partner

77
Q
  • This is where you register if your enterprise is a single proprietorship. The agency will issue a certificate of registration of business name.
A

Department of Trade and Industry (DTI)

78
Q

If your enterprise is a partnership or a corporation, this is where you will register. It will issue a certificate of registration.

A

Securities and Exchange Commission (SEC)

79
Q

If your set-up is a cooperative, register with this body. The agency will issue the certificate of registration.

A

Cooperative Development Authority (CDA)

80
Q

You register your business with this office and apply for your business’s Tax Identification Number (TIN), registration of books of accounts, and authority to print.

A

Bureau of Internal Revenue (BIR)

81
Q
  • If you employ five workers or more, register your business with this agency. It is asked to promote gainful employment opportunities, protect workers and promote their welfare, develop human resources, and maintain industrial peace.
A

Department of Labor and Employment (DOLE)

82
Q

What are the advantages of partnership?

A

Pooling of resources (ideas, managerial talent, money)
Ability to obtain capital
Simplicity and incentive
Limited regulation and taxation

83
Q

What are the disadvantages of partnership?

A

Unlimited liability
Tenuous existence
Independence on management harmony and coordination
Problems in share liquidation

84
Q

It is an artificial being, invisible, intangible, and exists only in a contemplation of law. Its owners are the stockholders who can sell their interests in the corporation without affecting the continuity of its operation because the life of the corporation is dependent or distinct from that of the owners or stockholders.

A

Corporation

85
Q

The owners of corporation are called

A

stockholders/shareholders (at least five parties).

86
Q

What are the advantages of CORPORATION?

A

Limited Liability (LIMITED IN THE AMOUNT INVESTED IN THE STOCK)
Legal entity- may not be affected by the death of owners
Ready transferability of ownership
Obtaining capital
Employee benefits

87
Q

What are the disadvantages of corporation?

A

Legal formality and cost
Double taxation
Potential loss of control by founders of the corporation

88
Q

A duly registered association of persons, with common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end, making equitable contributions to the capital required, and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.

A

Cooperation

89
Q

RA 9520

A

Cooperative Code of the Philippines 2008

90
Q

Members of the coop must be at least___ _______ are the owners.

A

15 parties

91
Q

What are the advantages and disadvantages of cooperation?

A

Tax privileges’
Ability to provide direct benefits to its members
Inequality of profit distribution
Pro-poor

Forest Enterprise Development (4 decks)

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