Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

EXAMS (1st Quarter) > ENTREPRENEURSHIP > Flashcards

ENTREPRENEURSHIP Flashcards

1
Q

:“Think Different” is the slogan of
which brand?

A

Apple.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Process of creating or seizing an
opportunity, and pursuing it
regardless of resources controlled.
(Howard H. Stevenson)

A

ENTREPRENEURSHIP

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

BIG IDEA: “Entrepreneurs as ___________.”

A

INNOVATORS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Other Definition of Entrepreneurship:

A capacity for innovation
investment, and expansion
into new markets and
techniques.

According to???

A

Fajardo

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Other Definition of Entrepreneurship:

Science of converting processed
ideas into a remarkable business
venture.

According to???

A

(Marife Agustin Acierto)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Underlying Principles of Business (4)

A
  1. Having a vision - “provides a sense of purpose and direction
    for the business.”
  2. Providing innovative products or
    services. - “profits and help uplift the quality of life of the people.”
  3. Managing effectively. - “entrepreneurs achieve their goals and objectives with the help of their employees & resources”
  4. Making informed decisions. - “involves logic and information gathering.”
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

A _______________________ refers to an
entrepreneur’s traits or personal
attributes rather than physical
assets or financial resources

A

Core competency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Identified the 10 key areas of
competencies related to entrepreneurial
development

A

EMPRETEC Program of United Nations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

FILL IN THE BLANKS:

EMPRETEC - the Spanish acronym for
________________________ (________________) and ____________________________
(____________________); was first introduced in Argentina in 1988 and has been initiated in 36 countries.

A

empredendores (entrepreneurs), tecnologia (technology)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The 10 Personal Entrepreneurial Competencies (PECs)

A
  1. Opportunity seeking and initiative
  2. Persistence
  3. Fulfilling of commitments
  4. Demand for quality and efficiency
  5. Taking Calculated Risks
  6. Goal setting
  7. Information seeking
  8. Systematic planning and monitoring
  9. Persuasion and networking
  10. Independence and self
    confidence
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

3 Clusters of the 10 PECs (EMPRETEC
Programme)?

A

Achieving, Planning, Power Behaviors (A.P.P.) Clusters 1-3

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Contents of EMPRETEC Clusters?

A

Achieving (disregard mo na, anything that isn’t in 2nd and 3rd is this)

Planning (2nd cluster):
G.I.S. Acronym =
- Goal setting
- Information seeking
- Systematic Planning and monitoring

Power (3rd cluster):
P.I. Acronym
- Persuasion and
networking
- Independence and
self confidence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

ANATOMY OF AN ENTREPRENEUR

  1. __________ = A pool of ideas
  2. __________ = Looking for investors and opportunities
  3. __________ = Communicating the vision
  4. __________ = Listening to customers feedback
  5. __________ = Trust your gut
  6. __________ = Full of passion
  7. __________ = Dream high but stick to the ground
  8. __________ = Keeps them going in tough times
A
  1. brain
  2. eyes
  3. mouth
  4. ears
  5. stomach
  6. heart
  7. feet
  8. legs
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

BIG IDEA of the Entrepreneurial Mindset?

A

“YOU ARE THE BOSS!”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Entrepreneurial Skills

A
  1. Creative/Critical Thinking
  2. Organizing
  3. Planning
  4. Business Principles
  5. Computer Competency
  6. Workplace Competencies
  7. High Growth High Value Entrepreneurship
  8. Marketing
  9. Interpersonal Skills
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

There are 2 types of Entrepreneurs:

  1. _______________ = Individuals who
    have generated
    substantial value and
    profits from
    innovations in a very
    short period of time.
  • Willing to absorb huge
    risks using enormous
    amounts of capital in their
    business
  • Rapid Economic Progress
  • Huge amount of value added
  • Attracts number of
    competitors & Imitators
  • Crucial in rapid economic
    prosperity
  1. _________________ = Individuals who
    initiate business
    enterprise, but the
    value-added and
    profits they make are
    limited.
  • Value-added & Profits are limited
  • Contributions are minimal
  • Attracts few competitors and
    imitators
  • Short in fund and inadequate in
    skills
  • Cannot undertake huge capital,
    sophisticated technology and
    extensive risks
  • Engage in micro and small
    business as an alternative to formal
    employment
A

Mega, micro

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q
  • A system entrepreneurs follow to
    achieve their goals.
  • A strategic process that includes
    an articulation of a plan and how
    this is going to be implemented.
  • An entrepreneurial discipline
    which involves several stages.
A

ENTREPRENEURIAL PROCESS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the 5 steps of THE ENTREPRENEURIAL PROCESS?

A
  1. DISCOVERY
  2. DEVELOPMENT OF A BUSINESS CONCEPT
  3. ORGANIZING RESOURCES
  4. IMPLEMENTATION
  5. REAPING THE RETURNS
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

The recognition of a
business idea or the
detection of
opportunities that
could make money for
the entrepreneur.

(THE ENTREPRENEURIAL PROCESS)

A

DISCOVERY

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

*Gives more details on how the general
business idea can be realized.
*Suggest a business plan
Business Plan must also describe:
*How the enterprise is going to be
organized
*How it is going to be managed
*How the business is going to be
financed

(THE ENTREPRENEURIAL PROCESS)

A

DEVELOPMENT OF A BUSINESS CONCEPT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

The process of identifying, sourcing and financing human, non human and other resources needed for the conduction of business.

MEGA ENTREPS.:

  • Highly educated, technologically savvy, and
    creative employees.
    (Google, Apple)
  • They source their funds from the capital market
    or from venture capitalists .
    (Banks)

MICRO ENTREPS.:
* Draw their resources including labor from what
is available in their locality.
(Eatery)
* Funds sourced from informal lenders, and
remittances of relatives or family members
working abroad
(5,6)

(THE ENTREPRENEURIAL PROCESS)

A

ORGANIZING RESOURCES

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

The process of carrying out the business
plan.
* Management of human, physical,
technological, and financial resources.
* Confronting actual and potential rivals
* Responding to various opportunities,
challenges and developments
* Managing growth and threats for the
survival of the business

(THE ENTREPRENEURIAL PROCESS)

A

IMPLEMENTATION

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Pertains to
strategies related
to the expansion
of the business
firm

(THE ENTREPRENEURIAL PROCESS)

A

REAPING THE RETURNS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

(ENTREPRENEURIAL TRAITS AND CREATION OF VALUE-ADDED):

LEVEL OF EDUCATION:

  1. _____________ Entrepreneurs:
    * Need some formal education to
    be able to seize opportunities
    presented by inventions,
    innovations, and other
    technological developments.
    * Need some degree of
    technological know-how
  2. _______________ Entrepreneurs:
    * Limited educational
    qualifications.
    * Engaging in small enterprise
    does not require high level of
    schooling.
    * Small enterprise uses simple
    technology and do not require
    technical sophistication
A
  1. Mega entrepreneurs
  2. Micro entrepreneurs
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

(ENTREPRENEURIAL TRAITS AND CREATION OF VALUE-ADDED):

EMPLOYMENT STATUS:

  1. _____________ Entrepreneurs:
  • Drawn from the pool of
    unemployed or underemployed.
  • They see their small business
    ventures as an option for making
    a living
  1. _______________ Entrepreneurs:
  • Former Employees of companies
    from formal sector
  • Entrepreneurs professional
    development
  • Experience in business is
    important to the success of mega
    entrepreneurs.
A
  1. Micro entrepreneurs
  2. Mega entrepreneurs
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

(ENTREPRENEURIAL TRAITS AND CREATION OF VALUE-ADDED):

ENTREPRENEURS WEALTH:

  1. _____________ Entrepreneurs:
  • Source their funds from their
    own wealth and from their
    families.
  • Some generate capital from
    wealth accumulated from
    their past employment.
  1. _______________ Entrepreneurs:
  • Limited Funds
  • Limited human and
    nonhuman resources they
    cannot avail of credit from
    financial institutions.
A
  1. Mega
  2. Micro
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

(ENTREPRENEURIAL TRAITS AND CREATION OF VALUE-ADDED):

RISK APPETITE:

  1. _____________ Entrepreneurs:
  • Risk appetite is not much
  • Limited wealth and have
    difficulties in getting credit,
    weak defenses against the
    impact of uncertainties.
  1. _______________ Entrepreneurs:
  • More willing to take risks
  • Their wealth provides
    security to absorb losses that
    serves as potential shields
    for risks
A
  1. Micro
  2. Mega
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What are the ENTREPRENEURIAL TRAITS AND CREATION OF VALUE-ADDED? (4)

A
  1. Level of education
  2. Employment Status
  3. Entrepreneurs Wealth
  4. Risk Appetite
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

(Entrepreneurial Traits And Entrepreneurial Intentions - INTERNAL FACTORS) (5)

  1. Gender, age, marital status, and employment status
    of individual who are likely to form entrepreneurial intentions.
  2. Theoretical bases for the contributions of self confidence, determination, and enthusiasm and other positive human
    qualities.
  3. include a host of qualities including need for achievement, risk appetite, acceptance for vagueness, self-efficacy
    and goal setting.
  4. Vocational Know-how,
    supervisory and managerial skills acquired from work experience.
  5. important in building networks that can complement the
    productivity of human and nonhuman resources of business.
A
  1. Demographics
  2. Personal traits
  3. Psychological traits
  4. Individual Skills & Prior Knowledge
  5. Social Ties
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

(Entrepreneurial Traits And Entrepreneurial Intentions - EXTERNAL FACTORS)

  1. Environmental Support

FILL IN THE BLANKS:

1a. The ______________________ enacted the
____________________ into law in
_______. This important piece of
legislation mandates the government
to provide support to them and
promote their development by
providing a conducive business
environment for them.

1b. Positive effects of
_______________, _______________
institutions and _______________
institutions (TESDA, schools
and universities) in setting
up a business.

  1. Environmental Influence

Includes ______________, __________, protection of
property rights, and __________________________.

A

1a. Philippine Congress, Magna Carta for MSMEs, 1991

1b. government, financial, training

  1. regulatory structure, patents, competitive environment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

What are MSME’s?

A

Micro, Small and Medium Enterprises

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

(CHARACTERISTICS OF FILIPINO
ENTREPRENEURS)

  1. EARLY Stage of Entrepreneurial
    Activities = ________________________________
    1a. ADVANCED Stage of Entrepreneurial
    Activities = _______________________
  2. EARLY Stage = ____________________________________
    2a. MATURE Stage = ___________________________________________
A
  1. Female > Male, Younger > Older
    1a. Male > Female
  2. Secondary Schools
    Education > Higher Level Education

2a. Higher Level Education > Secondary Schools
Education

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

(ENTREPRENEURIAL DECISION MAKING)

  1. _______________
    - the systematic and rational way of providing an answer to a question.
    - Explains what is going on in a
    business and how a firm can survive and remain stable.
    - SWOT Analysis
  2. _______________
  • involves thought process that assess current situation that can be useful in
    formulation of plans for the future.
  • Porter’s Five Forces of competition
    • Trend Analysis
    • Scenario Building
A
  1. Critical Thinking
  2. Strategic Thinking
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

(Porter’s Five Forces of Competition)

FILL IN THE BLANKS:

  1. A tool was created by Harvard Business School professor ________________________, to analyze an industry’s attractiveness and likely profitability

2.
_______________ = This looks at the number and strength of your competitors. How many rivals do you have? Who are they?
_______________ = How Powerful are the companies that supply to me? Can they Easily Drive up prices?
_______________ = How powerful are my consumers? Can they easily choose other business and force me to change my price?
_______________ = Are there other similar products and services, which my customers might switch to?
_______________ = How easy is it for new businesses to enter my market and take my customers?

A
  1. Michael Porter

2.
- Competitive Rivalry
- Supplier Power
- Buyer Power
- Threat of Substitution
- Threat of New Entry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q
  1. are uncertain situations and developments that can
    increase the probability of
    loss or business failure
  2. pertains to danger coming from the management of resources of a
    business enterprise
  3. are threats coming from various
    environment outside the business firm.
A
  1. Risks
  2. Internal Risks
  3. External Risks
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

The process of
identifying,
assessing, and
responding to risks.

A

Risk Management

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q
  1. Refers to the ability of individuals to be
    involved in the process of producing several decision- making based on the identification and management of changes in their environment.
  2. Can shift from one thinking to another in making decisions, depending on the objective being pursued.
  3. Needed in the light of the variety of changes, situations, problems, and issues that he has to confront.
  4. The decisions of an entrepreneur should be formulated after careful analysis, deep reflection and in an undue haste manner.
A
  1. COGNITIVE ADAPTABILITY
  2. FLEXIBILITY
  3. DYNAMISM
  4. SELF-CONTROL
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

SOURCES OF IDEAS FOR
ENTREPRENEURIAL
VENTURES

From the… (4)

A
  • From the product
  • From the process of production and distribution
  • From the person
  • From relationships
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q
  • Differentiates them
    from those currently
    in the market
  • Differentiate a
    product by CHANGING ITS SIZE, SHAPE, COLOR, AND CONTENTS.
  • More than changing the product, successful entrepreneurs introduce new products because of their dissatisfaction with those available in the market.

WHAT SOURCE OF IDEA IS THIS…

A

FROM THE PRODUCT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

Examples:
Sachets of shampoo.
Pan De Sal available throughout the day.
Fried sipao over traditional steamed siopao.

WHAT SOURCE OF IDEA IS THIS…

A

From the process of production and distribution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q
  • Interests, hobbies, skills,
    dreams, and even ones
    travels.
  • Prior employment

WHAT SOURCE OF IDEA IS THIS…

A
  • From the person
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

From families
and relatives.

WHAT SOURCE OF IDEA IS THIS…

A
  • From relationships
43
Q

Systematic and rational way of providing an answer to a question

A

LOGICAL
THINKING

44
Q

Looks at things from
different perspectives

A

CREATIVE THINKING

45
Q
  • refers to a systematic analysis of data
    generated from survey of individuals.
  • Aside from giving basic information on the
    population being studied, it can also be used
    for hypothesis testing on the difference of
    the values of certain variables.
  • It can describe the trend in the demand for a particular product, as well as show which key socioeconomic variables can significantly
    influence the change in the demand for a
    product.
A

STATISTICAL ANALYSIS (LOGICAL THINKING)

46
Q
  • which is undertaken to know the various
    factors that affect the demand for a
    particular product or service.
  • It can also determine how certain
    socioeconomic and demographic groups
    will react to the introduction of a new
    commodity or a change in existing products or services. This can be done through surveys, interviews and focus group discussions.
A

MARKET ANALYSIS (LOGICAL THINKING)

47
Q
  • usually describe
    the state of competition
    within an industry.
A

SWOT ANALYSIS (LOGICAL THINKING)

48
Q
  • is the systematic way of generating
    ideas from a select group or
    individuals using various rounds of
    consultations or sessions. This
    process is mostly used in research
    and economics, that aims to collect
    opinions on a particular research
    question or specific topic, to gain
    consensus.
A

DELPHI TECHNIQUE (LOGICAL THINKING)

49
Q

refers to an unstructured discussion of a group to elicit ideas. Since the process is unstructured, the facilitator and participants should entertain all ideas coming from the participants, even
those that are illogical and “out of this world.” After a fixed period of discussion, the various ideas are processed and synthesized to come out with an answer to the question posed at the start of the brainstorming session.

A

BRAINSTORM (CREATIVE THINKING)

50
Q

is similar to brainstorming. It uses the group discussion method to elicit ideas from the usual brainstorming because it is directed to identifying all possible problems encountered with a specific product or service. After identifying all the possible problems and issues with the product or service, the participants are tasked to give alternative solutions to the
problems.

A

PROBLEM INVENTORY ANALYSIS (CREATIVE THINKING)

51
Q
  • is another technique used in discovering business ideas. It is a method that has been used in psychology to elicit the unconscious thoughts of individuals by
    expressing their thoughts associated with words and ideas given by the therapist;
  • has several applications in different fields, including business, since it can draw from participants ideas that are associated or linked with a given idea or
    word
  • from the process of association the group can come out with an idea or set of ideas that can be the basis for business ventures.
A

FREE ASSOCIATION METHOD (CREATIVE THINKING)

52
Q
  • is another creative way of obtaining business ideas from target participants by listing all possibilities that ideas can be connected to, reprocessed and associated with
  • participants in the discussion group can be asked to list down all possible changes that can be made with an existing product or service.
A

CHECKLIST METHOD (CREATIVE THINKING)

53
Q

Alex Osborn developed a method known as…

A

SCAMPER (Substitute, Combine, Adapt,
Magnify, Put to other use, Eliminate, and
Rearrange)

54
Q

These are Methodologies That Focused On The Business Environment (3)

A
  1. Porter’s Five Forces of Competition
  2. SWOT Analysis
  3. Environmental Scanning
55
Q

Classify!

  1. Lower the selling price
    1a. Product Differentiation
  2. Changes in the behavior,
    demographics and technological
    changes in the market has
    significant effect on creation of new
    products and services
A
  1. Bargaining powers of its competitors and
    suppliers
  2. Sociodemographic changes and technological developments
56
Q

Provide an answer to a
problem.

A

PROBLEM SOLVING FACTORS

57
Q

Internal and external factors that
stimulate desire and energy in people
to be continually interested and
committed to a job, role or subject, or
to make an effort to attain a goal.

A

MOTIVATIONAL FACTORS

58
Q

Creativity of an individual is manifested
when they are confronted with concrete
situations.

A

SITUATIONAL FACTORS

59
Q

A creative person thrives in an
environment that is nurturing and
not threatening

A

ORGANIZATIONAL FACTORS

60
Q

A procedure of answering a problem with mechanism and
technique incorporating creativity.

A

CREATIVE PROBLEM SOLVING

61
Q

This THINKER thinks of all possible ways to reach a solution.

A

Divergent Thinker

62
Q

This THINKER thinks for a final solution.

A

Convergent Thinker

63
Q

This model is named _________________________
By two people being: ________________________________
________________________________

  1. Setting the Objective
  2. Revisiting the Objective
  3. Identifying the problem
  4. Looking for a solution
  5. Selecting the solution
  6. Accepting the solution
A

OSBORN-PARNES MODEL

DR. SYDNEY PARNES, ALEX OSBORN

64
Q

> Describes the various external and internal elements involved in starting a business or in expanding an existing venture, amidst a
dynamic business environment

> Serves as a guide for short-term and
medium-term decision-making and
managerial action

A

BUSINESS PLAN

65
Q

WHY WRITE A BUSINESS PLAN? (3 Reasons)

A
  1. Determine whether a proposed or existing business venture is viable given its target market
  2. Guides the entrepreneur in mobilizing
    the resources needed by the business
  3. Serves as a tool in helping get financing
    for the business
66
Q

WHO READS THE BUSINESS PLAN? (3)

A
  1. Entrepreneurs
  2. Lenders
  3. Investors
67
Q

Assesses whether the entrepreneur will be able to meet debt using the four C’s of credit

Four Cs of Credit—character, cash flow, collateral, and equity contribution

A

LENDER

68
Q

Gauge whether
projected returns are
acceptable

A

INVESTORS

69
Q

Identifies the resources
needed to operate and
grow the business

A

ENTREPRENEUR

70
Q

Provides the information
about collateral or tangible
assets that can be secured
for the loan

A

LENDER

71
Q

Serves as a road map for managing the
business

A

ENTREPRENEUR

72
Q

Allows the entrepreneur to
anticipate potential
business risks

A

ENTREPRENEUR

73
Q

Provides information about the
character of the entrepreneur and
about the capability of the
venture’s management team

A

INVESTOR

74
Q

Determine the size of the
market however, the
entrepreneur must be clear
on who his primary and
secondary markets are.

A

MARKET
INFORMATION NEEDS

75
Q

Depends largely on the cost
of sourcing and
manufacturing the product
or of providing the service.

A

OPERATIONS
INFORMATION NEEDS

76
Q

Require the entrepreneur
to include a list of all
sources of revenue and a
list of all possible
expenditures

A

FINANCIAL
INFORMATION NEEDS

77
Q

MARKET, OPERATION, OR FINANCIAL INFORMATION NEEDS?

  • Location
  • Manufacturing or service
    operations
  • Equipment and/or furniture
    required
  • Space requirements
  • Labor requirements
  • Raw materials needed and
    potential suppliers
  • Utilities
A

OPERATION INFORMATION NEEDS

78
Q

MARKET, OPERATION, OR FINANCIAL INFORMATION NEEDS?

  • General information
    trends
  • Specific industry trends
  • Local market conditions
  • Market potential (e.g.
    Market size, untapped or
    underserved market)
  • Demographic and/or
    psychographic profile of
    target market
A

MARKET INFORMATION NEEDS

79
Q

MARKET, OPERATION, OR FINANCIAL INFORMATION NEEDS?

  • Rental rates
  • Cost of equipment
  • Cost of utilities
  • Personnel costs
  • Distribution costs
  • Cost of insurance
  • Registration and
    license fees
A

FINANCIAL INFORMATION NEEDS

80
Q

PARTS OF THE BUSINESS PLAN (IDENTIFICATION)

  1. _________________________
  2. _________________________
  3. __________________________
  4. _________________________
  5. _________________________
  6. __________________________
  7. __________________________
  8. __________________________
    9.___________________________
  9. _________________________
  10. _________________________
  11. _________________________
A
  1. INTRODUCTORY PAGE
  2. EXECUTIVE SUMMARY
  3. ENVIRONMENTAL AND INDUSTRY ANALYSIS
  4. DESCRIPTION OF THE BUSINESS
  5. PRODUCTION PLAN
  6. OPERATION PLAN
  7. MARKETING PLAN
  8. ORGANIZATIONAL PLAN
  9. FINANCIAL PLAN
  10. ASSESSMENT OF RISK
  11. TIMETABLE/MILESTONES
  12. APPENDICES
81
Q

Provides a brief summary of the business plan’s content.

a) The name of the business and address of the company
b) The name of the entrepreneur and his contact information (mobile no., email address and
personal website)
c) A brief description of the company and the nature of the business
a) The amount of financing needed

A

INTRODUCTORY PAGE

82
Q

> It is prepared after
the total BUSINESS plan has been written
It must stimulate the interest of its
reader, especially if he or she is a
potential investor.

A

EXECUTIVE SUMMARY

83
Q

This part of the business plan consists of:

  • SOCIOCULTURAL CONDITIONS
  • TECHNOLOGICAL CONDITIONS
  • ECONOMIC CONDITIONS
  • POLITICAL- LEGAL CONDITIONS
  • SUPPLY AND DEMAND
  • COMPETITION
A

ENVIRONMENTAL AND INDUSTRY
ANALYSIS

84
Q

This part of the business plan consists of:

o Products and/or services
o Size of the business
o Mission statement and core values
o Location of the business and its major
physical assets
o Background of the business
owners/entrepreneurs

A

DESCRIPTION OF THE BUSINESS

85
Q

This part of the business plan consists of:

o Manufacturing process
o Physical plant
o Machinery and equipment
o Suppliers of raw materials
o Future capital equipment
needs

A

PRODUCTION PLAN

86
Q

This part of the business plan consists of:

o Description of the company’s operations (manufacturing,
service, retail or online business)
o Flow of orders for goods and services : (Manufacturing )
o (Service business) must describe the procedures in completing a
business transaction
o (Retail business) must explain how it will purchase the various
products it will offer, how it will manage the inventory and how
it will keep track of sales
o (Online business) how will its website be designed, how will
customers choose from its product offerings, how will they pay
for their purchases, and how will the merchandise be delivered
to them?

A

OPERATIONS PLAN

87
Q

This part of the business plan consists of:

oPricing
oDistribution
oPromotion
oSales forecasts

A

MARKETING PLAN

88
Q

This part of the business plan consists of:

 Provides a documentation of
the venture’s form of ownership
 Organizational chart
 Skills and abilities
 Roles and responsibilities

A

ORGANIZATIONAL PLAN

89
Q

This part of the business plan consists of:

o Assumptions
o Pro forma balance sheet
o Pro forma income statement
o Cash flow projections
o Sources and uses of funds
o Breakeven analysis

A

FINANCIAL PLAN

90
Q

This part of the business plan consists of:

oPotential risks-internal or external
oStrategies for preventing or
minimizing risks
oResponse to risks should they occur

A

ASSESSMENT OF RISK

91
Q

This part of the business plan consists of:

 When are major activities
will happen and when
milestones will be reached
serves a useful purpose.

A

TIMETABLE/MILESTONES

92
Q

This part of the business plan consists of:

o Market research data
o Detailed financial projections
o Opportunity Assessment Plan
o Curriculum vitae of the
management team
o Price lists from suppliers
o Profile of competitors
o Sample Licenses (Mayor’s permit, BIR,
Health permit etc.)

A

APPENDICES

93
Q

WHY DO SOME BUSINESS PLAN FAIL?

A

 Document is sloppy and looks unprofessional.
 Executive summary is not coherent and is too
long.
 Unclear on why people would want to buy the
product can be readily produced
 Sales and financial projections are
unreasonably optimistic
 Inadequate description of the qualifications and
experience of the management team
 Inadequate assessment of the potential threats
to the business

94
Q

HOW TO PRESENT A BUSINESS PLAN?

A
  • Tell a compelling story
  • Exhibit confidence and professionalism
  • Cover the basics
  • Adopt a cooperative attitude when
    answering questions
95
Q

STAGES OF OPPORTUNITY RECOGNITION? (5)

  1. Preparatory stage
  2. Gestation phase
  3. Hunch; logic of connections
  4. Evaluation of ideas
  5. Production of prototype
A
  1. Precondition
  2. Conception
  3. Visioning
  4. Assessment
  5. Realization
96
Q

FACTORS IN OPPORTUNITY RECOGNITION (3)

A
  1. MARKET AWARENESS (prior knowledge
    of the market)
  2. ENTREPRENEURIAL READINESS
    (entrepreneurial alertness)
  3. CONNECTIONS (networks)
97
Q

(prior knowledge of
the market), refers to personal exposure to the market and its components including customers and suppliers. Tools used
are market analysis and environmental scanning.

A

Market Awareness

98
Q

(entrepreneurial
alertness), refers to a variety of features of an individual to start a business venture; types of resources, financial, physical and human resources; ability of the individual to take risks and manage uncertainties once the enterprise is operational.

A

Entrepreneurial
readiness

99
Q

(networks), families and friends as well as business associates can bring about opportunities that an individual can pursue.

A

Connections

100
Q
  • Also called the TRADITIONAL APPROACH
  • Uses systematic procedures or the Entrepreneurial Process in proceeding with the implementation of a business opportunity

(OPPORTUNITY PATHWAYS)

A

RATIONAL
APPROACH
(Mega
Entrepreneurs)

101
Q

Starts with the recognition of an opportunity and proceeds directly to the grabbing of the opportunity after sensing that it can be done.

(OPPORTUNITY PATHWAYS)

A

INTUITIVE APPROACH (Micro
Entrepreneurs)

102
Q

In PRODUCT PLANNING AND
DEVELOPMENT PROCESS,

There are 2 main phases,
_______________________________
________ and the
_________________________________
___________________.

A

Precommercialization phase, commercialization phase.

103
Q

This section summarizes
the development process of
a product from its inception,
introduction in the market,
and final decline, the
various stages that a
product or service
undergoes in its product life

A

PRODUCT PLANNING AND DEVELOPMENT PROCESS

EXAMS (1st Quarter) (10 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions