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Entrep 110 > chapter 3 and 4 > Flashcards

chapter 3 and 4 Flashcards

1
Q

Allows the entreprenueur to see things in a postive and optimistic light in the midts of crisis of difficult situation

A

Entrepreneurial mind frame

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2
Q

eq, which is oftern manifest in the entrepreneur’s efforts to nurture relationships with customers, employees, suppliers etc

A

entrepreneurial heart flame

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3
Q

the great desire to attain vision or fulfill a missiion

A

passion

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4
Q

entrepreneur looks after the interest of his/her people by motivating and encouraging them to the best they can become

A

entrepreneurial heart flame

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5
Q

the ability of the entp to sense without using five senses

A

entrepreneurial gut game

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6
Q

also known as intuition

A

entrepreneurial gut game

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7
Q

lakas ng loob

A

entrepreneurial gut game

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8
Q

includes the demographics and cultural dimensions that govern the relevant entrepreneurial endeavor

A

socio-cultural environment

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9
Q

defines the governance system of the country or the local area of the business

A

political environment

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10
Q

supply and demand forces the macro economic environment

A

economic environment

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11
Q

. It includes all the laws, rules and regulations that governs business practices as well as permits, approval and licenses necessary to operate the business

A

political environment

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12
Q

the interest and foreign exhcange rates that fluctuate with the movement of the martket

A

economic environment

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13
Q

includes all natural resources and habitat f men, animals plants and minerals

A

ecological environment

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14
Q

new scientific and technological discoveries which often lead to launch and commercialization of new products

A

technological environment

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15
Q

technology does not only comes in the form of advanced machinery or equipment but it can also be in the form pf

A

new systems, new processes, or new products

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16
Q

industry sources of opportunities:

participants in an industry include

A
  1. ) rivals or competitors in a particular type of business
    2) suppliers of input as well as suppliers of machinery and equipment, suppliers of manpower and expertise, and supplies of merchandise
    3) consumer market segments being served by rivals or competitors
    4) substitute products or services which customers shit or turn to
    5) all other support and enabling industries
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17
Q

way to define an industry1

A

1) according to product type or function of the product

2) by tracing the industry from its most basic raw material down to its various consumer applications called product

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18
Q

product or

A

value added chain

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19
Q

market source of opportuninties

A

1) measure the actual demand and supply as well as the potential demand and supply of the industry that the enterprise belongs to.
2. ) Monitor the prevalence of product substitutes and their market impact on the existing platyers in the industry

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20
Q

conducted to determine the critical variables which would affect directions of the industry

A

martket trend analyis

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21
Q

refers to the specific target market segment of a particular enterprise

A

micromarket

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22
Q

refer to the tatste of particular groups of people

A

consumer preferences

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23
Q

macro environmental sources of opportunities

A

political environment
economic environment
ecological environment
technological environment

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24
Q

5 - POINT TEST FOR OPPORTUNITY SCREENING

A

Customer

  1. Timing
  2. Finance
  3. Product
  4. Competitiveness
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25
Q

is the market real

A

Customer

26
Q

is it big enough

A
  1. Timing
27
Q

can it be profitable

A
  1. Finance
28
Q

can we differentiate

A

product

29
Q

Can we win

A
  1. Competitiveness
30
Q

KEY FACTORS FOR SUCCESS

A

. Large and Motivated Sales Force

Availability

Payment Plans

Reward and recognition programs

31
Q

product range, recruiting, training, retention, sales, leadership

A

. Large and Motivated Sales Force

32
Q

branches, delivery system

A

availability

33
Q

photo walls of top sales performers ; regular awards ceremony
international trips
car plans
housing plans

A

Reward and recognition programs

34
Q

collection management

A

payment plans

35
Q

in screening the entrepreneur first has to consider his or her preferences and capabilities by asking three basic questions

A

the personal screen

36
Q

12 R’s OF OPPORTUNITY SCREENING

A

RELEVANCE

RESONANCE

REINFORCEMENT

REVENUES

RESPONSIVENESS

REACH

RANGE

REVOLUTIONARY

IMPACT

RETURNS
RELATIVE EASE OF
IMPLEMENTATION

RESOURCES REQUIRED

RISKS

37
Q

Vision, mission, and

objectives

A

relevance

38
Q

Opportunity must match the

values

A

resonance

39
Q

Opportunity resonating to

interests, talents, and skills

A

reinforcement

40
Q

Sales potential

A

REVENUES

41
Q

Addresses the unfulfilled or

undeserved needs

A

responsiveness

42
Q

Expanding through branches

for rapid growth

A

reach

43
Q

Tapping many market

segments of the industry

A

range

44
Q

“next big thing”

A

revolutionary impact

45
Q

Highest returns on
investment, high profile
recognition

A

returns

46
Q

Easy implementation

Requiring fewer resources

A

relative ease of implementation

47
Q

easy implementation

A

relative ease of implementation

48
Q

requiring fewer resources

A

resources required

49
Q

entrepreneurial endeavor requires ricks

A

risks

50
Q

FACTORS ARE CONTAINED IN A

PRE -FEASIBILITY STUDY

A

Market potential and prospects
• Availability and appropriateness of technology
• Project investment and detailed cost estimate
• Financial forecast and termination of financial feasibility

51
Q

the basic approach in determining the target segment is

A

demographic

52
Q

• Focus on actual research like surveys, focus group

discussion, in-depth interviews

A

segmenting the market

53
Q

costs related to preparation for the

launch of the business

A

Pre-Operating Costs

54
Q

— long term

investment for the actual business establishments

A

Production/Service Facilities Investment

55
Q

— investment needed to

operationalize the business

A

• Working Capital Investment

56
Q

refers to the monetary transactions that business is

expected to engage in

A

financial forecast

57
Q

measures an enterprise’s performance in terms of revenue

and expense

A

income statement

58
Q

pertains to asset, liabilities, and equities

A

balance sheet

59
Q

asset =

A

liabilities + equity

60
Q

THINGS TO CONSIDER IN WRITING A

FEASIBILITY STUDY

A

In-depth study of market potential

Proof that the product or service offered right designs and
preferred features

Entrepreneur has the necessary experience

Legal visibility

Detailed costing on the different assets & justified
operating expenses

Through analysis of the technology and sustainability.

Entrep 110 (4 decks)

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