Entrepreneurship Flashcards
Developing, conducting, managing, operating, directing, and evaluating a business venture
entrepreneurship
Act of discovering new ways of combining resources
entrepreneurship
Individual or a collective who develops a new company, carries most of the risks and enjoys most of the benefits of a joint effort through profit
entrepreneur
Innovator, source of new ideas, products, services, and business/procedures
entrepreneur
etymology of entrepreneur
“entre” to enter; “prendre” to take; “entreprendre” to undertake
Endless curiosity to discover new or different ideas
opportunity seeking
Quality that allows someone to continue doing/trying something even though it is difficult or opposed by other people
persistence
Keeping of an entrepreneur’s word or promise
Commitment work contract
Entrepreneurs try to do something better, faster, or cheaper
demand for quality and efficiency
Willingness and ability to make decisions and take actions that involve uncertainty, potential loss, and possibility of failure
risk taking
When business professionals create specific objectives for the future
goal setting
An entrepreneur undertakes personal research on how to satisfy customers and solve problems
information seeking
An entrepreneur plans for whatever he/she expects in the business; does not leave things on luck
systematic planning and monitoring
An entrepreneur acts to develop and maintain business contacts by establishing good working relationship
persuasion and networking
Entrepreneurs must believe in oneself if he/she wants others to believe in him/her
self-confidence
a. Began working as a saleswoman in Goodwill Bookstore in Escolta when she was 18 years old
b. Married to Jose Ramos when they put up the National Book Store
Socorro C. Ramos
a. Jollibee sold Magnolia Ice Cream instead and it was known as selling chicken and burgers.
Tony Tan Caktiong
a. Company was a mess until he worked in the tobacco industry
b. Ambition was to be a scientist but became a businessman
c. Owns Asia Brewery, Tanduay, Fortune Tobacco, Philippine Airlines, Allied Bank, and more
Lucio Tan
a. Born in Xiamen, China on December 25, 1923
b. Used to market American Shoes
Henry Sy
a. President and chaiman of Ayala Corporation
b. Won several awards (2012 Entrepreneur of the Year)
Jaime Augusto Zobel de Ayala
a. Came from a poor family and earned riches because of hard work and determination
b. Zest-O is liked by mothers because of its comfort of being put in a growing children’s lunch box
c. One of the country’s leading juice producers
Alfredo Yao
a. First worked at a drugstore
b. Invested his P100 in sulfathiazole tablets
c. Sold his goods by making use of a wooden pushcart
Mariano Que
a. Created the Lamoiyan Corp.; manufactures Hapee and Kutitap
b. Received the “Most Excellent Plan for Equal Employment Opportunities Award” as he gives priority to those who have trouble hearing
Cecilio K. Pedro
a. Founded CDO Foods
b. A dietician; knew what Filipinos’ tastes were
c. CDO Foodsphere, Inc has been listed as a leading meat topping supplier
Corazon D. Ong
A “blueprint”
business plan
written document describing in detail how a business — usually a new one — is going to achieve its objectives
business plan
sets out a written plan from a marketing, financial and operational point of view.
business plan
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
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 30 pages 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, two dimensional 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
