ENTREPRENEUR Flashcards
the process of developing, conducting, managing, operating,
directing and evaluating a business venture in order to gain
profit by taking several risks
Entrepreneurship
an individual or a collective who develops a new company, carries most of the risks and enjoys most of the benefits of a joint effort via profit.
Entrepreneur
Entrepreneur comes from the word?
Entreprendre
“Entre” means?
to enter
“Prendre” means?
to take
“Entreprendre” means?
to undertake
Relevance of entrepreneurship
Helps economic growth
create job opportunities
innovation
community development impact
business failures consequences
political and economic integration of outsiders
spawn entrepreneurship
enhances standard of living
provides research development
Relevance of entrepreneurship: Establishing a business contributes to the economy; small or big
Helps economic growth
Relevance of entrepreneurship: Provides entry-level jobs necessary to learn for unskilled employees
create job opportunities
Relevance of entrepreneurship: Promotes creativity and brings new ideas: product, technology, industry,
good quality
innovation
Relevance of entrepreneurship: promotes abundant retail facilities, a higher level of homeownership, fewer
slums, better, sanitation standards and higher expenditure on education,
recreation, and religious activities
community development impact
Relevance of entrepreneurship: Entrepreneurship is the most productive way to incorporate the excluded
and discarded in the economy
political and economic integration of outsiders
Relevance of entrepreneurship: Collapse of business will lead to job loss and/or financial institutions will be
at crisis
business failures consequences
Relevance of entrepreneurship: Entrepreneurship is a breeding ground for new inexperience people
spawn entrepreneurship
Relevance of entrepreneurship: Businesses provide various types of goods
enhances standard of living
Relevance of entrepreneurship: Entrepreneurship offers funding to institutions for research and
development
provides research development
Have endless curiosities in discovering new ideas
opportunity seeking
the quality that allows someone to continue doing something or trying to do something even though it is difficult
persistence
An entrepreneur keeping their promise or word
commitment work contract
Trying to do something better, faster and cheaper
demand for quality and efficient
refers to the willingness and ability to entrepreneur. Create a decision and take actions that involve uncertainty, potential loss and possibility of failure
risk taking
business professionals create specific objectives for the future. these can include both long term and short term goal
goal setting
undertakes personal research on how to satisfy customers and solve problems
information seeking
Acts to develop and maintain business contacts by having good relationships
persuasion and networking
Plans everything he/she expects in the business. he/she does not leave things to luck
systematic planning and monitoring
must believe in oneself if he or she wants others to believe in him or her.
self-confidence
-saleswoman in goodwill bookstore in escolta
-Owner of (70)national book store
Soccoro C. Ramos
Owner of SM Supermalls
Henry Sy
- Owner of Philippine Airlines
- Asia Brewery
- Tanduay
- Fortune Tobacco
- Allied Bank
Lucio Tan
Owner of jollibee
1994: Greenwich
2000: Chowking
2005: Red Ribbon
2010: 70% Mang Inasal
2011: Burger King
2016: 30% Mang Inasal
2019: Coffee Bean and Tea Leaf
2021: Yoshinoya
Tony Tan Caktiong
Owner of Ayala
Jaime Augusto zobel de ayala
Owner of Zesto
Alfredo Yao
Owner of Mercury Drugstore
- Invested 100 Php in sulfathiazole tablets
Mariano Que
owner of Lamoiyan Corporation
- Hapee Toothpaste and Kutitap
Cecilio K. Pedro
owner of CDO
Corazon D. Ong
- A blueprint
- a written document describing
in detail how a business —
usually a new one — is going to
achieve its objectives - sets out a written plan from a
marketing, financial and
operational point of view.
Business Plan
Purpose of business plan
- Describes the direction of the business/company
- Defines the business
- Sets the goals
- Shows investors the viability of the business
- Prepares business for uncertainty
- Use short sentences instead of
long complicated ones. - Use simple and straightforward
language. - Avoid using shortcuts, jargons,
and acronyms. - Use bullet points for lists
SIMPLE / SPECIFIC
Characteristics of Business plan
SIMPLE / SPECIFIC
MEASURABLE
ACHIEVABLE / ATTAINABLE
REALISTIC / RELEVANT
TIME-BOUND
- Describe the goal clearly.
- Contains concrete and
measurable objectives. - Include specific actions and
activities
MEASURABLE
- Should list out attainable goals
- Should specify the goals to
achieve - Suggested number of pages is
from 20 to 30pages of text and
another 10 pages of appendices
ACHIEVABLE / ATTAINABLE
- Summarize other data by using
simple business charts or
summary tables such as bar
charts, twodimensional bars, pie
charts and Gantt charts. - Contains the company’s vision
and mission
REALISTIC / RELEVANT
- Follow the time bound plan.
- Achieve goals within the time
frame
TIME-BOUND
- Recall the business idea that
you created from the previous
topic. - List down the steps that you
will do to start your business
Business Plan Outline
Essential Questions that have to be answered when making Business Plan
- What problem does the product or service
solve? What need does it fill? - What niche will it address?
- Who are the customers of the enterprise?
- How will the enterprise sell its product or
services to them? - What is the size of the market to be served?
- How will the business make money?
- What other products pose competition to
the business and how will the enterprise
maintain its competitive advantage? - How will the enterprise adjust its system of
management as the business grows? - Who will run the company and what are
their capabilities to manage the business? - What are the risks and threats confronting
the business and what are the resources
needed?
