Entrep (Exam) Flashcards
provide a summary of assets the business will own, it’s projected liabilities.
Financial plan
This section describe the target market for the new product or service
marketing plan
in the section it is not enough for this section to provide a documentation of the venture’s form of ownership
organizational plan
must be included whether the business is concerned with manufacturing or service.
operations plan
this describes the complete manufacturing process.
production plan
this must take into account in existing laws and regulations, as well as future legislation that could directly affected the business.
Politico-legal conditions
it is a reference to individuals who have initiated the establishment of a business enterprise.
entrepreneurs
is the process of carrying out the business plan.
implementation
refers to the recognition of a business idea or the detection of opportunities that could make money for the entrepreneur.
discovery
describe the process of identifying, sourcing, and financing human, nonhuman and other resources needed for the conduct of business.
organizing resources
individuals who become entrepreneurs in develop countries are usually former employees of companies in the formal sector.
employment status
are associated with uncertainties in business operation.
risk
Refers to the systematic and rational way of providing an answer to question.
critical thinking
Refers to thought processes that bring about discovery of new ideas.
creative thinking
Involves thought processes that assess current situation that can be in the formulation of plans for the future.
strategic thinking
Are threats coming from various environment outside the business firms.
external risks
The process of identifying, assessing, and responding to these risks is called?
risk management
Suggests the production of a prototype.
realization
A preparatory stage, during which individuals assess his knowledge of the market.
precondition
Involves the evaluation on whether the idea can be realized or not.
assessment
Which entrepreneurial intentions and ideas are generated, using logic, creative thinking or both.
conception
Provides the individual a hunch that can serve as an opportunity for business.
visioning
A critical piece of information for any aspiring entrepreneur is the potential market for his product or service.
market information
section of the business plan will require the entrepreneur to Include a list of all sources of revenue and a list plan will require the expenditures for the first year of operations,
financial section
Refers to the systematic and rational way of providing an answer to question.
logical thinking
Is the systematic way of generating ideas from a select group of Individuals using various rounds of consultations or sessions.
Delphi technique
Refers to a systematic analysis of data generated from a survey of individuals.
statistical analysis
Refers to an unstructured discussion of a group to elicit ideas.
brainstorming
Is another technique used is discovering business ideas.
free association method
It uses the group discussion method to elicit ideas from participants.
problem inventory analysis
is a procedure of answering a problem with mechanism and technique incorporating creativity
Creative Problem Solving (CPS)
Is usually applicable for business ideas that require substantial initial investments or those that are undertaken.
traditional approach
It starts with the recognition of an opportunity and proceeds directly to the grabbing of the opportunity after sensing that it can be done.
intuitive approach
This refers to the formation of business ideas.
idea stage
Provides information about collateral or tangible assets that can be secured for the loan.
lender
4 C’s of credit
character
cash flow
collateral
equity contribution
key factors affecting creativity which are group in 4 categories
Problem Solving factors
Motivational Factors
Situational Factors
Organizational Factors
six steps are followed in Osborne-Parnes model
- setting the objective
- Revisiting the objective
- Identifying the problem
- Looking for solution
- Selecting solution
- Accepting the solution.
full name ni miss
Madel P. Erandio
