Entrep Flashcards
1
Q
Bakit nag- aaral ang isang tsino at hapon?
A
para sa negosyo
2
Q
French word and meaning ng entrepreneurship
A
“entreprendre” meaning “to undertake
3
Q
D.E.E of opportunities?
A
Discovery of opportunities
Evaluation of opportunities
Exploitation of opportunities
4
Q
kung gusto mo yumaman ano kailangan mo?
A
Purpose
5
Q
Bakit nag aaral ang isang estudyante pilipino
A
Para sa trabaho
6
Q
Anong ang entrepreneur ship
A
Pagnenegosyo
7
Q
What do you call those people who identifies new opportunities and convert then into marketable products
A
negosyante
business man
entrepreneur
8
Q
tribes on structured, predictable opportunities and plays it safe within the existing market framework
A
Business man
9
Q
thrives on innovation, risk taking and creating opportunities where bone existed before
A
Entrepreneur
10
Q
Is often focused on routine, profitability, and operating within established markets.
A
Business
11
Q
Represent a broader, often innovative effort that can influence industries or societal systems
A
Enterprise
12
Q
Factors affecting entrepneurship
A
*Personality factory
* environmental factors
13
Q
°Focus on the traits and mindset of the entrepreneur
°it is used to navigate challenge seize opportunities, and build successful venture
A
Personality Factors
14
Q
The ability to take the first step in
starting or completing a task without waiting for
others.
A
Initiative
15
Q
Anticipating challenges or opportunities
and taking steps to address them in advance.
A
Proactive
16
Q
The ability to identify,
analyze, and resolve issues effectively.
A
Problem solver
17
Q
The ability to convince others
of your vision, product, or service.
A
Persuasion
18
Q
Organizing tasks, setting goals,
and creating strategies to achieve them.
A
Planner
19
Q
Willingness to take calculated
risks to achieve goals.
A
Risk taker
20
Q
● emphasize the external conditions that support
or hinder entrepreneurship.
● provide both opportunities and constraints for
entrepreneurship. Entrepreneurs must analyze
these factors to create strategies for success.
A
Environmental factors
21
Q
The influence of government
policies, stability, and actions on entrepreneurship.
A
Political Factors
22
Q
The geographical and natural conditions
that can impact entrepreneurial opportunities.
A
Climate
23
Q
The framework of laws and
regulations governing businesses.
A
Legal system
24
Q
The overall state of
the economy and its impact on business
opportunities.
A
Economic conditions
25
Cultural and societal
attitudes that shape entrepreneurship.
Social condition
26
The demand and
supply conditions, competition, and
customer behavior in the market.
Market situations
27
DOB: June 28, 1971
● University of Pennsylvania (BA, BS)
● business tycoon, successful
investor, industrial designer, and
engineer
♣Founder of SpaceX, Tesla
Inc., The boring Company,
OpenAI
● Co-founder of Neuralink
Corporation, X.com
Elon Reeve Musk
28
"Persistence is very
important. You should not
give up unless you are forced
to give up."
Elon Reeve Musk
29
DOB: January 12, 1964
● Princeton University (BSE)
● ecommerce tycoon
Founder of Cadabra- an
online bookstore later
called AMAZON (the
largest e-commerce
company)
Jeff bezos
30
“A brand for a company is
like a reputation for a
person. You earn reputation
by trying to do hard things
well.”
Jeff bezos
31
“A brand for a company is
like a reputation for a
person. You earn reputation
by trying to do hard things
well.”
jeff bezos
32
DOB: October 28, 1955
● Harvard University (dropped out)
● American business magnate,
investor, philanthropist, and
author
● Co-founded Microsoft
● holds the Guinness World
record for inventing
"World's First
Microcomputer" in 1980.
William Henry "bill" gates
33
“We have always focussed
on building long-term
businesses built on
excellence, sustainable
profit.”
Sanjiv bajaj
34
● DOB: 2 November 1969
● University of Pune, University of
Warwick, Harvard University
● most successful Indian
businessmen, investors, and
philanthropists
Sanjiv bajaj
35
an entrepreneur must be firm in making
decision
Decisive
36
an entrepreneur must have the charisma
to be obeyed by his employees.
Leader
37
an entrepreneur must have a
convincing power
Communicator
38
an entrepreneur must have the ability to be the
first to see business chances.
Opportunity seeker
39
an entrepreneur has the courage to pursue business
ideas.
Risk taker
40
an entrepreneur can control a situation by making things
happen or by preparing for possible future problems.
Proactive
41
the entrepreneur has big business ideas and he does not
stop improving and thinking of new worthwhile ideas for his business.
Innovative
42
Entrepreneurship is
an economic activity because it involves the creation and
operation of an enterprise with a view to creating value
or wealth by ensuring optimum utilization of limited
resources
Economic and Dynamic Activity
43
Types of Entrepreneurs
● Innovative Entrepreneurs
● Imitating Entrepreneurs
● Fabian Entrepreneurs
● Drone Entrepreneurs
● Social Entrepreneurs
44
● Advises businesses on strategy, operations, and problem-solving.
● Responsibilities:
○ Conducting market research.
○ Developing business strategies.
○ Helping businesses improve performance.
● Skills Needed: Analytical thinking, communication,
problem-solving.
● Example: Assisting a startup with developing a marketing plan.
Business consultant
45
● Educates aspiring entrepreneurs and business students.
● Responsibilities:
○ Teaching entrepreneurial concepts.
○ Mentoring students on business ideas.
○ Organizing workshops and seminars.
● Skills Needed: Public speaking, mentoring, curriculum
development.
● Example: Conducting a class on writing business plans.
Teacher
46
Studies trends, markets, and innovative practices in entrepreneurship.
● Responsibilities:
○ Publishing findings in academic journals.
○ Analyzing data on entrepreneurial success.
○ Identifying emerging market opportunities.
● Skills Needed: Critical thinking, data analysis, academic writing.
● Example: Researching the impact of social media marketing on small
businesses.
Researcher
47
● Sells products or services and builds customer relationships.
● Responsibilities:
○ Identifying customer needs.
○ Demonstrating product value.
○ Negotiating deals and closing sales.
● Skills Needed: Communication, persuasion, relationship-building.
● Example: Selling SaaS solutions to small businesses.
Sales professional
48
● Covers news and trends in the business world.
● Responsibilities:
○ Writing articles on entrepreneurship and markets.
○ Interviewing entrepreneurs and business leaders.
○ Reporting on economic trends.
● Skills Needed: Writing, investigative research, networking.
● Example: Reporting on the rise of eco-friendly startups.
Business reporter
49
● Starts and manages their own business.
● Responsibilities:
○ Developing business ideas.
○ Managing operations and finances.
○ Scaling the business for growth.
● Skills Needed: Leadership, financial management, innovation.
● Example: Owning a successful e-commerce store.
Business owner
50
● Entrepreneurship offers diverse career
opportunities.
● Each role requires specific skills but shares a
focus on innovation and growth.
● Explore your strengths to determine your
entrepreneurial path.
Key takeways
51
● a written document that explains and
analyzes an existing or proposed
business venture.
Business plan
52
● a document that gives the reader an
overview of what the intended project
will look like, how it will work and what
activities must take place in order to
reach the final goals.
Business plan
53
Central Components of Business Plan
● Operations
● Marketing
● Finance
54
explains how you will reach
your targeted customers
and how you will effectively
market your product or
service to those customers.
Marketing
55
The operations section of
your business plan is where
you explain – in detail – you
company's objectives, goals,
procedures, and timeline.
Operations
56
● the management of money
and includes activities such
as investing, borrowing,
lending, budgeting, saving,
and forecasting
Finance
57
Issues to
consider before
making a
Business Plan
Opportunity
Owner/entrepneur
Resources
58
● Refers to the business idea or market
gap the entrepreneur aims to address.
● Entrepreneurs need to evaluate the
viability and potential of the
opportunity.
Opportunity
59
● Represents the individual or team
creating the business plan.
● Their skills, experience, and vision play a
critical role in shaping the business plan
Owner/entrepreneur
60
● Includes financial, human, and material
resources necessary to execute the plan.
● Identifying available resources and
potential shortages is essential.
Resources
61
“set of institutions and processes for
creating, communicating, delivering, and
exchanging offerings that have value for
customers, clients, partners and society at
large.”
Marketing
62
4 Important Things in Marketing that an
Entrepreneur Must Remember
● Target Market
● Understand the Target Market
● Influence the Target Market to Buy
● Making the Target Market to Buy
63
Generally refers to the product or service
that the business will offer.
Marketing Plan
64
refers to the process
of dividing prospective buyers into groups
that have common needs and will respond
similarly to a marketing action.
Market Segmentation
65
(region of the world or
country, size of country,climate)
Geographic
66
(personality, lifestyle,
values, attitudes)
Psychographic
67
(population, age, gender,
sexualorientation, income, occupation, education,
etc.)
Demographic
68
(product, benefit sought, rate of
usage, brand loyalty, readiness-to-buy stage, etc.)
Behavioral
69
refers to the market's desire to
purchase the good or service.
Demand
70
refers to the market's ability to
produce a good or service,
Supply
71
The higher the price, the
lower the demand
Law of Demand
72
The higher the price, the
higher the quantity supplied.
Law of supply
73
○ Consumer Survey
○ Urban Barangay
○ Estimated 375 Respondents
○ Age
Demand
74
○ Retailer Survey
○ 30 Retailers
○ Grocery store, sari-sari store,
convenience store
Supply
75
This section presents in tabular form the gap
between future demand and supply. The analysis
should indicate whether there is an unsatisfied
demand (shortage) or excess supply (surplus).
Market gap
76
This section provides an analysis of the
expected market share of the product. The
production capacity of the proposed
business must be highly considered in the
analysis.
Market Share Analysis
77
Swot
Strength
Weakness
Opportunities
Threats
78
● an estimate of how much revenue a
company expects to earn by a set point in
the future.
● Number of Units Sold x Unit Selling Price
Projected sales
79
is a plan of action
required to realize the main objective of
marketing, which is to influence the target
market to buy the product or service being
offered by business.
Marketing Strategy
80
4 P’s of Marketing Mix
● Product
● Price
● Place
● Promotion
81
involve using the properties of the product
to influence the target market into buying a product or using a
service.
○ Brand
○ Packaging
○ Label
○ Attributes
Product strategies
82
An actual product has three attributes that
you can change or modify:
○ Quality
○ Features
○ Design.
Products attributes
83
● a name, term, sign, symbol or design, or a
combination of these, that aims to identify
the goods or services of one seller and to
differentiate them from the other sellers.
Branding
84
refers to the outside appearance
of a product, or the way it is presented.
Packaging
85
○ It refers to the product’s immediate container
Primary packaging
86
○ It refers to additional layer of protection that are kept till the product are
ready to use
Secondary packaging
87
It refers to the further packaging necessary for storage or transportation. It
may contains a number of products within a cardboard box for easy
transportation.
Transportation packaging
88
is used to identify, grade, describe, and promote a product.
Labelling
89
Value is a perception of worth
Pricing
90
The easiest and the
most commonly
used pricing
strategy is the
Cost plus
91
This strategy means that the main factor for determining the
price of your product or service is your competitor’s price.
● 3 Possible Choices
○ Higher
○ Same Level
○ Lower
Competition-based Pricing
92
This dynamic approach allows you to set a
high price when demand is strong and a
low price when the demand is weak.
Demand Oriented Pricing
93
the collective term for all the tools or media
that a business uses to communicate a
message to the target market.
Promotion
94
concerned with the ways of bringing one’s
product or service to the target market.
Place
95
A set of interdependent organizations
(intermediaries) involved in the process of
making a product or service available for use
or consumption by the consumer or business
user.
Channel of distribution
96
New Distribution Channels
● Television
● Telephone
● Internet
97
Chap 2
Research Design
● Respondents of the Study
● Research Instrument
● Statistical Tools
● Data Gathering Procedure
● Demand and Supply’
● Market Gap
● Market Share
● Target Market
● SWOT Analysis
ENTREP| MBO
● Projected Sales
● Marketing Program & Strategies
● Product
● Business Name
● Business Logo
● Packaging and Label Design
● Price
● Place
● Promotion
● Marketing and Selling Expenses
98
is the management of processes or systems that create goods and/or provide services.
Operations management
99
is a diagram that shows the sequential steps of a process and the decisions needed to make the process work
Process flowchart
99
is a general approach to evaluate locations that includes quantitative and qualitative inputs
Factor rating method
100
a manufacturing planning tool that aims to maximize the production capacity of a plant or maximize production efficiency by minimizing operation cost.
Production schedule
101
It is a manufacturing planning tool that aims to maximize the production capacity of a plant or maximize production efficiency by minimizing operation cost
Direct materials
102
are materials that are used in the production process but that are not directly traceable to the product.
Indirect materials
103
refers to the salaries and wages paid to workers that can be directly attributed to specific products or services
Direct labor
104
⚫ is the cost incurred by using utilities such as water, electricity, waste
Utilities Expense
105
* refer to the costs incurred from manufacturing a product or providing a service that generates revenue for that company.
Production cost
