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for final gr 12 > ENTREP > Flashcards

ENTREP Flashcards

1
Q

the 3s

A

seeking , screening , seizing

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2
Q

allows the entrepreneur to see thing in a very positive and optimistic light in the midst of crisis or difficult situations.

A

Mind Frame

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3
Q

is about emotional intelligence or EQ, which is often manifested in the entrepreneurs’ efforts to nurture relationship.

A

Heart Flame

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4
Q

refers to the ability of the entrepreneur to sense without using five senses. This is also known as intuition.

also connotes courage or “lakas ng loob” (strong intestinal fortitude)

A

Gut Game

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5
Q

It refers to the specific target market segment of a particular enterprise.

A

Micromarket

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6
Q

It refers to the tastes of particular groups of people.

A

Consumer preferences

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7
Q

12R’s of opportunity screening

A

RELEVANCE
RESONANCE
REINFORCEMENT OF ENTREPRENEURIAL ACTIVITY
REVENUES
RESPONSIVENESS
REACH
RANGE
REVOLUTIONARY IMPACT
RETURNS
RELATIVE EASE OF IMPLEMENTATION
RESOURCES REQUIRED
RISKS

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8
Q

The opportunity must be aligned to the vision, mission and goals of the entrepreneur.

A

RELEVANCE

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9
Q

Opportunity should match with VALUES that you wish to impart with the customers.

A

RESONANCE

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10
Q

> How does the opportunity resonate with the entrepreneur’s personal interest, talents and skills?

A

REINFORCEMENT OF ENTREPRENEURIAL ACTIVITY

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11
Q

It is important to determine the sales potential of the products and/or of the services that the
company wants to offer. Is there a big market out there to grab and nurture for growth?

A

REVENUES

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12
Q

Be responsive to the unfulfilled needs and wants of the customers.

A

RESPONSIVENESS

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13
Q

Opportunities have a good chance of expanding through branches, distributors, dealerships or
franchise outlets in order to attain rapid growth and opportunities

A

REACH

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14
Q

The opportunity can potentially lead to a wide range of possible product or service
offerings thus tapping many market segments in the industry.

A

RANGE

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15
Q

NEXT BIG THING or the game changer in the industry.

A

REVOLUTIONARY IMPACT

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16
Q

What you will get as an exchange of your action. To maximize returns, a company must strive
to minimize cost

A

RETURNS

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17
Q

Will the opportunity be relatively easy to implement for the enterprise? What are the possible
hurdles along the way?

A

RELATIVE EASE OF IMPLEMENTATION

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18
Q

Opportunities requiring less resources from the industry may be more favored than
those requiring more

A

RESOURCES REQUIRED

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19
Q

> Guided by the basic rule in finance that THE HIGHER THE RISK, THE GREATER THE RETURNS.

A

RISKS

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20
Q

7ps of marketing

A

Product
Price
place
promotion
people
packaging
process or positioning

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21
Q

These are innovative products that offer new benefits.

A

Breakthrough Products

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22
Q

These products offer similar benefits to existing products but have additional features.

A

Differentiated Products

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23
Q

These products are very similar to existing ones and rely on strategies like lower prices, better accessibility, or promotions to compete.

A

Copycat Products

24
Q

These products target specific, smaller market segments and don’t directly compete with popular products

A

Niche Products

25
Q

Price is the value of money in exchange for a product or service

A

Price

26
Q

The location where the buyer and seller exchange goods or services.

A

Place

27
Q

The location refers to the complete set of activities, which communicate the product, brand or service to the user or customer.

A

Promotion

28
Q

Excellent customer service not only converts to sales, but can increase your customer base by referrals.

A

People

29
Q

Physical evidence incorporates aspects that proves your brand exists and that a purchase took place.

A

Packaging

30
Q

IN CHINESE WRITING, THE WORD CRISIS IS COMPOSED OF TWO CHARACTERS. THE FIRST CHARACTER MEANS DANGER WHILE THE SECOND CHARACTER MEANS OPPORTUNITY. WHAT TRAIT OF ENTREPRENEURIAL MIND FRAME WAS MANIFESTED?

A

OPTIMISM

31
Q

WHAT DO YOU CALL THE FRAMEWORK THAT MOST PROMISING ENTREPRENEURS USE TO FINALLY COME UP WITH THE ULTIMATE PRODUCT SUITED FOR SPECIFIC OPPORTUNITY?

A

3S

32
Q

THE SOLE PURPOSE OF A BUSINESS IS TO EARN PROFIT. WHAT DETERMINES TO THE SALES POTENTIAL OF THE PRODUCT OR SERVICES THAT COMPANY WANTS TO OFFER?

A

REVENUES

33
Q

MS. SSIPPI SOUGHT A GOOD CHANCE OF EXPANDING HIS BUSINESS THROUGH BRANCHES AND DEALERSHIP TO ATTAIN RAPID GROWTH. WHICH ONE OF THE 12R’S CAN

A

REACH

34
Q

COVID-19 VACCINES ARE PRODUCTS THAT HAS BORNE OUT OF BIOTECHNOLOGY FIELD DURING PANDEMIC. WHAT TYPE OF PRODUCT HAS BEEN INTRODUCED?

A

BREAKTHROUGH

35
Q

ANIMAL TESTING CAN CONTRIBUTE TO ECOLOGICAL PROBLEMS, SUCH AS HABITAT DESTRUCTION AND POLLUTION FROM THE DISPOSAL OF ANIMAL CARCASSES AND LABORATORY WASTE. IN CHOOSING A PRODUCT, WHAT DO YOU NEED TO CHECK TO MAKE SURE THAT ANIMALS ARE GUARDED?

A

CRUELTY-FREE

36
Q

SUPPLIERS ARE PARTICIPANTS IN THE INDUSTRY OF OPPORTUNITIES. WHICH OF THE FOLLOWING MEANS THAT THE ENTERPRISE HAS THE GOODS OR SERVICES ON HAND?

A

AVAILABILITY

37
Q

THE FACILITATOR WANTS TO KNOW HOW MANY PEOPLE PURCHASE ON A CERTAIN BUSINESS INCLUDING THE GENDER, TIME AND AGE BRACKET. THIS PROCESS NORMALLY LASTS FOR AN HOUR AND A HALF UP TO THREE HOURS. WHAT INFORMATION WOULD YOU USE TO PRIORITIZE TO ANALYZE A SMALL GROUP OF PEOPLE?

A

FOCUS GROUP DISCUSSION

38
Q

CONSUMER’S PURCHASE DECISION-MAKING IS AFFECTED BY VARIOUS FACTORS INCLUDING THE QUANTITY AND QUALITY OF A PARTICULAR COMMODITIES. HOW WOULD YOU IMPROVE THE SELLING POWER TO CONVINCE CUSTOMERS IN AVAILING WHAT YOU OFFER?

A

INCREASE THE VARIABLE COSTS

39
Q

KNOWING THE TARGET MARKET IS ONE CHALLENGE OF STARTING A BUSINESS. WHAT ALTERNATIVE WOULD YOU SUGGEST FOR AN ENTREPRENEUR TO OBTAIN RELEVANT MARKET INFORMATION?

A

CONDUCTING A GOOD MARKET RESEARCH

40
Q

THE CEO OF TIN.CO ENSURES THAT THEIR RELATIONSHIPS WITH CUSTOMERS, EMPLOYEES AND SUPPLIERS ARE NURTURED. WHAT DOES THIS EFFORT PORTRAY?

A

HEART FLAME

41
Q

ENTREPRENEUR’S FAR-REACHING CHANGE THAT IS BROUGHT ABOUT BY AN EVENT IS THE NEXT BIG THING. WHAT DO YOU CALL THE GAME CHANGER IN THE INDUSTRY?

A

REVOLUTIONARY IMPACT

42
Q

PEOPLE SELL AND PUSH THE PRODUCT. PEOPLE SEARCH HARD TO FIND THE RIGHT MARKET. THEREFORE, (PROMOTION) IS THE ULTIMATE MARKETING STRATEGY

T/F

A

PEOPLE

43
Q

POWERFUL BRANDS HAVE BECOME THE GENERIC NAME FOR THEIR PRODUCT CATEGORIES LIKE KLEENEX, COLGATE, BAND-AID, XEROX AND SCOTCH TAPE. THIS IS AN INSTANCE OF (LATITUDE) POSITIONING.

T/F

A

LONGITUDE

44
Q

A CLASSIC EXAMPLE OF (COPYCAT) PRODUCT IS BEER NA BEER BRAND AGAINST THE SAN MIGUEL PALE PILSEN. BOTH HAVE AMBER-COLORED BOTTLES WITH SIMILARLY STYLED WHITE COLORED FONT PRINTED OUTSIDE THE BOTTLE.

T/F

A

T

45
Q

(POSITIONING) IS AN OFTEN-RECITED MANTRA OF A SALESPERSON WHO WANT TO HAVE THE BEST ACCESS TO THEIR CUSTOMERS.

T/F

A

PLACE

46
Q

WHEN A PRODUCT TRIES TO CLAIM A NEW SPACE IN THE MIND OF THE CUSTOMER DIFFERENT FROM THE SPACES OCCUPIED BY THE EXISTING PRODUCTS, IT IS RECOGNIZED AS A (BREAKTHROUGH).

T/F

A

DIFFERENTIATED PRODUCTS

47
Q

(LONGITUDE) LAYS OUT WHAT IS IMPORTANT TO THE DIFFERENT CUSTOMER SEGMENTS FROM THEIR DIFFERENT POINTS OF VIEW.

T/F

A

T

48
Q

TO FIND ASSETS formula

A

ASSETS = LIABILITIES + EQUITY

49
Q

TO FIND LIABILITIES formula

A

LIABILITIES = ASSETS -EQUITY

50
Q

TO FIND EQUITY formula

A

EQUITY = ASSETS - LIABILITIES

51
Q

XYZ COMPANY HAS A TOTAL EQUITY OF P1,200,000 AND ITS LIABILITIES AMOUNTING TO P600,000. WHAT IS THE TOTAL ASSETS OF THE ENTERPRISE?

A

ASSET = LIABILITIES + EQUITY
1,200,000 + 600,000
=1,800,000

52
Q

MR. MILLER INVESTED ASSETS WORTH P40,000. CAPITAL OF MR. ANDRES IS COMPUTED AS P15,000. WHAT IS THE COST OF LIABILITIES?

A

LIABILITIES = ASSET - EQUITY 9,500 - 1,500
= 25,000

53
Q

THE ASSETS OF FRESH COMPANY AMOUNTED TO P950,000 AND ITS LIABILITIES ARE P95,250.
FIND THE TOTAL EQUITY.

A

EQUITY = ASSET - LIABILITIES 950,000 - 50,000
=900,000

54
Q

TO FIND ASSETS
PROFIT OR LOSS

A

INCOME - EXPENSES = PROFIT

IF RESULTS TO PROFIT IS NEGATIVE THAT MEANS ITS LOSS
INCOME - EXPENSES = (LOSS)
*PUT PARENTHESES ON THE NUMBER

55
Q
A

for final gr 12 (7 decks)

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