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EBE > Entrepreneurship > Flashcards

Entrepreneurship Flashcards

1
Q

a strategic document that outlines a company’s goals, strategies for achieving them, and the time frame for their achievement.

A

Business Plan

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2
Q

covers the key points about your business without delving into every single detail the way a lengthy, full-featured business plan does.

A

Dehydrated Plan

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3
Q

A full business plan that provides an in-depth analysis of the critical factors that will determine a firm’s success or failure, along with all the underlying assumptions.

A

comprehensive plan

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4
Q

a business owned and managed by a single individual

A

sole proprietorship

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5
Q

a business organization owned by two or more persons who agree on a specific division of responsibilities and profits

A

Partnership

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6
Q

Cash flow activities that include the cash effects of transactions that create revenues and expenses and thus enter into the determination of net income.

A

operating activities

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7
Q

is an artificial being created by operation of law, having the rights of succession and the powers, attributes and properties expressly authorized by law or incident to its existence

A

corporation

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8
Q

Includes cash transactions involving the purchase and sale of long-term assets and current investments

A

investing activities

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9
Q

Cash flow activities that include (a) obtaining cash from issuing debt and repaying the amounts borrowed and (b) obtaining cash from stockholders, repurchasing shares, and paying dividends.

A

financing activities

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10
Q

Evaluating an organization’s financial statements to determine the profitability of the organization, a division within the organization or a specific event or project.

A

Financial Analysis

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11
Q

Company’s ability to generate an adequate return on invested capital.

A

profitability

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12
Q

An approach where planning and baselines are established early in the life cycle of the initiative in order to maximize control and minimize risk.

A

predictive approach

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12
Q

This start-up entrepreneur starts a business knowing that their vision can change the world. They attract investors who think and encourage people who think out of the box.

A

scalable startup entrepreneurship

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12
Q

A new venture that is trying to discover a profitable business model for future success.

A

startup

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12
Q

is when a company has a finite amount of life cycles. This type of entrepreneurship is for an advanced professional who knows how to sustain innovation.

A

large company entrepreneurship

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12
Q

Small businesses, often family owned, that intend to serve the local community, make a living, and focus less on growth than scalable start-ups.

A

small business entrepreneurship

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12
Q

sees entrepreneurship as a mindset and a method that needs practice and used only when the future is unpredictable and not certain

A

creation approach

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13
Q

the process of sourcing innovative solutions to social and environmental problems

A

social entrepreneurship

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14
Q

This type of entrepreneur focuses on new ideas and innovation, trying to change the way people go about their lives, and to change society.

A

innovative entrepreneurship

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15
Q

This type of entrepreneur uses hard work and bootstrapping to start build a business.

A

hustler entrepreneurship

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16
Q

This type of entrepreneur spends more time researching an idea before pursuing the venture, focusing more on data and facts, versus intuition.

A

researcher entrepreneurship

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17
Q

This type of entrepreneur buys existing businesses and tries to grow them further.

A

buyer entrepreneurship

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18
Q

process of promoting innovation within the structure of an existing organization

A

intrapreneurship

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19
Q

Four Pathways to opportunity identification

A

find, search, effectuate, design

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20
Q

A pathway that assumes that opportunities exist independent of entrepreneurs and are waiting to be found.

A

find pathway

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21
Q

A pathway used when entrepreneurs are not quite sure what type of venture they want to start, so they engage in an active search to discover new opportunities.

A

search pathway

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22
Q

A pathway that involves using what you have (skills, knowledge, abilities) to uncover an opportunity that uniquely fits you.

A

effectuate pathway

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23
Q

A pathway that can uncover high-value opportunities because the entrepreneur is focusing on unmet needs of customers, specifically latent needs.

A

design pathway

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24
Q

A special set of observational and thinking skills that help entrepreneurs identify good opportunities; the ability to notice things that have been overlooked, without actually launching a formal search for opportunities, and the motivation to look for opportunities.

A

entrepreneurial alertness

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25
Q

design thinking process

A

empathize, define, ideate, prototype, test

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26
Q

This is a cross between and innovator and a hustler, trying to improve on existing products in the marketplace.

A

Imitator Entrepreneurship

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27
Q

outlines the need the firm will fill, the operations of the business, its components and functions, as well as the expected revenues and expenses

A

business model

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28
Q

A type of producer that changes the shapes or forms of materials so that they will be useful to consumers

A

manufacturer

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29
Q

a person or organization that helps another organization sell its goods and services to customers

A

distributor

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30
Q

a channel intermediary that sells mainly to consumers

A

retailer

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31
Q

A business established or operated under an authorization to sell or distribute a company’s goods or services in a particular area

A

franchise

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32
Q

Traditional businesses with actual stores in which trade or retail occurs, it does not exist solely on the internet.

A

Brick-and-mortar

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33
Q

model by which a company integrates both offline (bricks) and online (clicks) presences

EX: Apple, Barnes & Noble

A

Bricks-and-clicks business model

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34
Q

selling to customers directly, at home or at work, rather than through a retail establishment or other intermediary

A

direct sales

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35
Q

jobs dealing with people rather than computer screens or voice-response systems

A

high touch

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36
Q

2 or more family members with financial control on the company

A

family owned

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37
Q

based on nine building blocks, the business model canvas is an entrepreneurial tool that enables entrepreneurs to test hypotheses as they design, develop, articulate, challenge, invent, and pivot their strategic business model. The building blocks referenced above include customer segments, value proposition, channels, customer relations, revenue streams, key resources, key activities, key partnerships, and cost structure.

A

business model canvas

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38
Q

driving the cost of a product down to its lowest point while still making a profit.

A

nickel-and-dime

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39
Q

revenue model offers users a basic service for free and then charges a premium for upgrades or advanced features

A

freemium

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40
Q

electronic business or exchange conducted over the internet

A

e-commerce

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41
Q

In this business model, a customer pays a recurring monthly payment in exchange for a product or service.

A

subscription

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42
Q

business model will collect information and then sell that under a brand name.

A

Aggregator

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43
Q

an e-commerce site where many different retailers sell goods

A

online marketplace

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44
Q

Online content may be “free” but generate revenue through ads

A

hidden revenue

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45
Q

companies sell or license the data they collect as a form of revenue.

A

data licensing/data selling

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46
Q
  • partner company that has specialization in doing non-core business activities such as advertising, digital marketing, PR, even janitorial and security.
A

agency-based

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47
Q

an internet-based marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer the affiliate sends to its website

A

affiliate marketing

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48
Q

a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product.

A

dropshipping

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49
Q

A method of direct distribution in which individuals act as independent distributors for a manufacturer or private-label marketer.

A

network marketing

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50
Q

inviting broad communities of people - customers, employees, independent scientists and researchers, and even the public at large - into the new product innovation process

A

crowdsourcing

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51
Q

A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly

A

blockchain

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52
Q

fully-automated, low-cost digital workflows using web interfaces

A

low touch

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53
Q

the strategy of subsidizing an offering in order to make money on a complement of that offering

A

razor blade model

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54
Q

A business with mainly social objectives that reinvests most of its profits into benefiting society rather than maximising returns to owners

A

social enterprise

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55
Q

a statement of how the sales offering will add value to the prospect’s business by meeting a need or providing an opportunity

A

customer value proposition

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56
Q

the network of suppliers and partners that make the business model work

A

key partners

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57
Q

A long-term partnership between two or more companies established to help each company build competitive market advantages.

A

strategic alliance

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58
Q

cooperation by competitors to achieve a strategic objective

A

co-opetition

59
Q

when two or more companies join forces - sharing resources, risks, and profits, but not actually merging companies - to pursue specific opportunities

A

joint ventures

60
Q

A smaller part of a larger market in which customers have more specific needs and wants

A

niche

61
Q

focuses on a large group of customers without really distinguishing between different types of customers, and aims to satisfy a set of broadly similar needs and problems.

A

mass market

62
Q

A market divided into groups according to customers’ different needs and problems.

A

segmented

63
Q

defines the groups of people or organizations you aim to reach or serve.

A

customer segments

64
Q

similar to a segmented except that it utilizes entirely different sets of value propositions to cater to unrelated customer segments rather than just slightly altering the product.

A

diversified market

65
Q

serve interdependent customer segments. For example, a credit card company interacts with both the card holder, and the merchants who accept those cards.

A

multi-sided market

66
Q

This type of customer relationship is characterized by the human touch. Customers have the opportunity to interact with a sales representative while they are making their purchase decision or with a customer services representative for after sales services.

A

personal assistance

67
Q

dedicating a customer representative specifically to an individual client

A

dedicated personal assistance

68
Q

here you maintain no relationship with the customer, but provides what the customer needs to help themselves.

A

self-service

69
Q

This type of relationship mixes a more sophisticated form of customer self-service with automated processes.

A

automated services

70
Q

these include online communities where customers can help each other solve their own problems with regard to the product or service.

A

communities

71
Q

actively involving consumers in creating value through participation in new product development, among other marketing activities

A

co-creation

72
Q

made from ongoing payments for continuing services or post-sale services

A

recurring revenues

73
Q

made from customers who make a one-time payment

A

transaction based revenue

74
Q

designing, manufacturing and delivering a product in significant quantities and/ or of superior quality.

A

production

75
Q

revenue generated by acting as an intermediary between two or more parties

A

brokerage fee

76
Q

customer pays to get permission to use the company’s intellectual property

A

licensing

77
Q

Key Resources

A

Human, Financial, Intellectual, Physical

78
Q

Customers that make up a minority of the customer base but generate a large portion of sales.

A

loyal customers

79
Q

Customers that do not have a specific product in mind and purchase goods when it seems good at the time.

A

impulse customer

80
Q

Customers with the intention of buying a specific product.

A

need-based customer

81
Q

Customers that are not sure of what they want to buy.

A

wandering customer

82
Q

are short, intensive programs that provide education, resources, and mentorship if you’re an early- or mid-stage founder.

A

startup accelerators

83
Q

provide the environments and resources to help your ideas succeed, accelerators compress years’ worth of learning and growth into the span of a few months.

A

incubators

84
Q

the process of defining and promoting what you stand for as an individual.

A

personal brand

85
Q

are the various sources from which a business earns money from the sale of goods or the provision of services

A

revenue streams

86
Q

summing the total unit cost of providing a product or service and adding a specific amount to the cost to arrive at a price

A

cost-plus pricing

87
Q

occurs when producers sell products at lower prices to lure customers away from rival producers, while still making a profit

A

competitive pricing

88
Q

you match what your competitor is doing. A competitor’s one-dollar increase leads you to hike your price by a dollar.

A

co-operative pricing

89
Q

based on undercutting competitors prices rather than concentrating on the company’s strengths

A

aggressive pricing

90
Q

you price as you wish and do not react to what your competitors are doing.

A

dismissive pricing

91
Q

A pricing strategy that involves setting prices higher than those of the competition

A

price skimming

92
Q

setting a low initial price on a new product to appeal immediately to the mass market

A

penetration pricing

93
Q

setting price based on buyers’ perceptions of value rather than on the seller’s cost

A

value-based pricing

94
Q

a situation in which an entrepreneur starts a company with little capital, relying on money other than outside investments.

A

bootstrapping

95
Q

a way of raising money to finance projects and businesses. It enables fundraisers to collect money from a large number of people via online platforms.

A

crowdfunding

96
Q

is the process of raising capital through the sale of shares

A

equity financing

97
Q

individuals who invest in start-up companies with high growth potential in exchange for a share of ownership

A

angel investors

98
Q

Individuals or companies that invest in new businesses in exchange for partial ownership of those businesses.

A

venture capitalist

99
Q

A separate legal entity from those who own it, taxed at the corporate level, owned by shareholders.

A

C Corporation

100
Q

a form of corporation that avoids double taxation by having its income taxed as if it were a partnership

A

S Corporation

101
Q

newest form of business ownership recognized in the U.S.; combines features of both the corporation and partnership

A

limited liability corporation

102
Q

business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain

A

non-profits

103
Q

businesses that focus on social responsibility and corporate citizenship by blending their social and environmental objectives with financial goals to use the power of business to solve social and sustainability challenges

A

b corporations

104
Q

a corporation whose stock is owned by relatively few people and is not sold to the general public

A

closed corporation

105
Q

a corporation whose stock can be bought and sold by any individual

A

open corporation

106
Q

a farm, business, or other organization that is owned and run jointly by its members, who share the profits or benefits.

A

cooperatives

107
Q

A product of the intellect, such as an expressed idea or concept, that has commercial value.

A

intellectual property

108
Q

a process that systematically surveys and interprets relevant data to identify external opportunities and threats that could influence future decisions

A

environmental scanning

109
Q

the entire size of the market for a product at a specific time

A

market potential

110
Q

refers to all stages involved in bringing a product from concept or idea through market release and beyond. In other words, product development incorporates a product’s entire journey.

A

product development

111
Q

they are those skepcal. They don’t iniate but follow only aerthey are sased

A

fabian entrepreneurs

112
Q

they are those who lives on the labor of others. They are die-hardconservave even ready to suer the loss of business

A

drone entrepreneurs

113
Q

is the set of markeng tools that a company ulizes to achieve its markeng goalsin the target market environment

A

marketing mix

114
Q

4ps of marketing mix

A

product, place, promotion, price

115
Q

refers to a process used by marketers to create an image in the minds of atarget market

A

positioning

116
Q

is a long-term design for the development of a popular brand in order to achievethe goals and objectves

A

brand strategy

117
Q

is a powerful and sustainable high-level markeng strategy used to create or inuence abrand.

A

branding

118
Q

Magna Carta is a landmark legislation that mandates the government to support, strengthen and promote the development of SMEs

A

R.A. 6799

119
Q

An estimate of the worth of a business entity and its assets.

A

business valuation

120
Q

the attention reasonably expected from, and ordinarily exercised by, a person who seeks to satisfy a legal requirement or to discharge an obligation.

A

due diligence

121
Q

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

A

marketing

122
Q

Any business in which a person receives proceeds not only from their own sales, but from the sales made by people they have signed up, and potentially people those people have signed up, and so on.

A

Multi-level Marketing

123
Q

Developing business contacts to form business relationships, increase your knowledge, expand your business base, or serve the community. Also used to describe linking computers systems together.

A

networking

124
Q

a brief presentation, typically 30-60 seconds in duration, presenting the entrepreneur’s concept/solution, business model, “go to market” strategy and value proposition to potential angel or venture capital investors, in order to obtain the attention of the investors such that they are compelled to learn more about the opportunity

A

elevator pitch

125
Q

is a training camp for learning various type of skills and is designed to get you ahead in your start-up journey.

A

boot camp

126
Q

The amount of money that companies need to spend to win one new customer.

A

customer acquisition cost

127
Q

Things a business owns or controls for a long time, such as premises or equipment

A

fixed assets

128
Q

also known as ideation, is the process of generating, developing and communicating new business ideas.

A

idea generation

129
Q

is the development of new ideas or better solutions that meet new requirements

A

innovation

130
Q

The difference between the selling price of a product or service and its costs. The higher the margin, the more profit that is made.

A

margin

131
Q

How a business presents its products/services in relation to its competitors; higher quality, cheaper etc.

A

market positioning

132
Q

A sentence that describes what your business aims to achieve in the long term.

A

mission statement

133
Q

Capacity for learning; natural ability

A

aptitude

134
Q

a cost that rises or falls depending on how much is produced

A

variable cost

135
Q

Richest family in the Philippines

A

Sy Siblings

136
Q

Richest Man in the Philippines

A

Manuel Villar

137
Q

Richest Man in the World

A

Bernard Arnault

138
Q

Founder of Jollibee

A

Tony Tan Caktiong

139
Q

Founder of Chowking

A

Robert Kuan

140
Q

Founder of Greenwhich Pizza

A

Cresida Tueres

141
Q

is the entrepreneur behind Bench clothing line that expanded to cover the entire apparel

A

Ben Chan

142
Q

founder of National Bookstore

A

Soccoro Ramos

143
Q

founder of Mercury Drug

A

Mariano Que

144
Q

JG Holdings, Robina land corporation, cebu pacific

A

John Gokongwei Jr.

145
Q

Philippine Airlines (PAL)

A

Lucio Tan

146
Q

Ayala Corporation

A

Jaime Zobel de Ayala

147
Q

founder of Potato Corner

A

Joe Magsaysay

148
Q

DOF

A

Department of Finance

149
Q

DBM

A

Department of Budget and Management

150
Q
A

EBE (3 decks)

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