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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
Price is the value of money in exchange for a product or service
Price
26
The location where the buyer and seller exchange goods or services.
Place
27
The location refers to the complete set of activities, which communicate the product, brand or service to the user or customer.
Promotion
28
Excellent customer service not only converts to sales, but can increase your customer base by referrals.
People
29
Physical evidence incorporates aspects that proves your brand exists and that a purchase took place.
Packaging
30
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?
OPTIMISM
31
WHAT DO YOU CALL THE FRAMEWORK THAT MOST PROMISING ENTREPRENEURS USE TO FINALLY COME UP WITH THE ULTIMATE PRODUCT SUITED FOR SPECIFIC OPPORTUNITY?
3S
32
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?
REVENUES
33
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
REACH
34
COVID-19 VACCINES ARE PRODUCTS THAT HAS BORNE OUT OF BIOTECHNOLOGY FIELD DURING PANDEMIC. WHAT TYPE OF PRODUCT HAS BEEN INTRODUCED?
BREAKTHROUGH
35
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?
CRUELTY-FREE
36
SUPPLIERS ARE PARTICIPANTS IN THE INDUSTRY OF OPPORTUNITIES. WHICH OF THE FOLLOWING MEANS THAT THE ENTERPRISE HAS THE GOODS OR SERVICES ON HAND?
AVAILABILITY
37
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?
FOCUS GROUP DISCUSSION
38
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?
INCREASE THE VARIABLE COSTS
39
KNOWING THE TARGET MARKET IS ONE CHALLENGE OF STARTING A BUSINESS. WHAT ALTERNATIVE WOULD YOU SUGGEST FOR AN ENTREPRENEUR TO OBTAIN RELEVANT MARKET INFORMATION?
CONDUCTING A GOOD MARKET RESEARCH
40
THE CEO OF TIN.CO ENSURES THAT THEIR RELATIONSHIPS WITH CUSTOMERS, EMPLOYEES AND SUPPLIERS ARE NURTURED. WHAT DOES THIS EFFORT PORTRAY?
HEART FLAME
41
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?
REVOLUTIONARY IMPACT
42
PEOPLE SELL AND PUSH THE PRODUCT. PEOPLE SEARCH HARD TO FIND THE RIGHT MARKET. THEREFORE, (PROMOTION) IS THE ULTIMATE MARKETING STRATEGY T/F
PEOPLE
43
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
LONGITUDE
44
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
T
45
(POSITIONING) IS AN OFTEN-RECITED MANTRA OF A SALESPERSON WHO WANT TO HAVE THE BEST ACCESS TO THEIR CUSTOMERS. T/F
PLACE
46
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
DIFFERENTIATED PRODUCTS
47
(LONGITUDE) LAYS OUT WHAT IS IMPORTANT TO THE DIFFERENT CUSTOMER SEGMENTS FROM THEIR DIFFERENT POINTS OF VIEW. T/F
T
48
TO FIND ASSETS formula
ASSETS = LIABILITIES + EQUITY
49
TO FIND LIABILITIES formula
LIABILITIES = ASSETS -EQUITY
50
TO FIND EQUITY formula
EQUITY = ASSETS - LIABILITIES
51
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?
ASSET = LIABILITIES + EQUITY 1,200,000 + 600,000 =1,800,000
52
MR. MILLER INVESTED ASSETS WORTH P40,000. CAPITAL OF MR. ANDRES IS COMPUTED AS P15,000. WHAT IS THE COST OF LIABILITIES?
LIABILITIES = ASSET - EQUITY 9,500 - 1,500 = 25,000
53
THE ASSETS OF FRESH COMPANY AMOUNTED TO P950,000 AND ITS LIABILITIES ARE P95,250. FIND THE TOTAL EQUITY.
EQUITY = ASSET - LIABILITIES 950,000 - 50,000 =900,000
54
TO FIND ASSETS PROFIT OR LOSS
INCOME - EXPENSES = PROFIT IF RESULTS TO PROFIT IS NEGATIVE THAT MEANS ITS LOSS INCOME - EXPENSES = (LOSS) *PUT PARENTHESES ON THE NUMBER
55

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