chapter 3 and 4 Flashcards
Allows the entreprenueur to see things in a postive and optimistic light in the midts of crisis of difficult situation
Entrepreneurial mind frame
eq, which is oftern manifest in the entrepreneur’s efforts to nurture relationships with customers, employees, suppliers etc
entrepreneurial heart flame
the great desire to attain vision or fulfill a missiion
passion
entrepreneur looks after the interest of his/her people by motivating and encouraging them to the best they can become
entrepreneurial heart flame
the ability of the entp to sense without using five senses
entrepreneurial gut game
also known as intuition
entrepreneurial gut game
lakas ng loob
entrepreneurial gut game
includes the demographics and cultural dimensions that govern the relevant entrepreneurial endeavor
socio-cultural environment
defines the governance system of the country or the local area of the business
political environment
supply and demand forces the macro economic environment
economic environment
. It includes all the laws, rules and regulations that governs business practices as well as permits, approval and licenses necessary to operate the business
political environment
the interest and foreign exhcange rates that fluctuate with the movement of the martket
economic environment
includes all natural resources and habitat f men, animals plants and minerals
ecological environment
new scientific and technological discoveries which often lead to launch and commercialization of new products
technological environment
technology does not only comes in the form of advanced machinery or equipment but it can also be in the form pf
new systems, new processes, or new products
industry sources of opportunities:
participants in an industry include
- ) 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
way to define an industry1
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
product or
value added chain
market source of opportuninties
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
conducted to determine the critical variables which would affect directions of the industry
martket trend analyis
refers to the specific target market segment of a particular enterprise
micromarket
refer to the tatste of particular groups of people
consumer preferences
macro environmental sources of opportunities
political environment
economic environment
ecological environment
technological environment
5 - POINT TEST FOR OPPORTUNITY SCREENING
Customer
- Timing
- Finance
- Product
- Competitiveness
