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entrepreneurship > lesson 3 > Flashcards

lesson 3 Flashcards

1
Q

this is a written document describing a companys core business activities, objectives and how it plans to achieve its goals

A

business plan

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2
Q

an outline structured to that each section answers a specific set of questions about your business

A

business plan outline

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3
Q

chapters outline

A
  1. executive summary
  2. company overview
  3. product overview
  4. market analysis
  5. strategies
  6. operations
  7. appendicies
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4
Q

most important section

A

executive summary

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5
Q

six things that you must cover

A
  1. who you are
  2. what you sell
  3. who sre your market
  4. how big is your market
  5. how big and profitable it can get
  6. how much you need
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6
Q

chapter 1 (executive summary)

outline:

A

business overview
- who you are (company name)
- what the business is all about/offers
- what you sell (brand name)
- goods (bearbrand)
- services

Market Overview
- who your market are (target customers)
- how big is your market
(population of the customers)

Financial Highlights
- profit
- capital (how much you need)

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7
Q

chapter 2: company overview

A

the objective of this section is to introduce the company and its management

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8
Q

forms of business organizations

A
  1. sole proprietorship- one owner (husband & wife)
  2. partnership- two or more owner (law firm professional service industries) as long as hindi na reregister as corporators walang hangganan ang 2 or more.
  3. Corporations-
    * incorporators - 5-15 original share holders
    *shareholders- lahat ng additional investors unlimited
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9
Q

company overview: chapter 2

outline:

A

*Form of business organizations
a. sole proprietorship
ex: Escalante Bulalohan
- one owner known as proprietor
- easy to organize
needs a minimal amount of capital

b. partnership
ex: Yanto law office
SGV & company
- two or more (unlimited) owners
- owners are called partners
- partners may contribute money, property or industry in a business venture
- easy to organize and dissolve

c. corporation
- 5-15 incorporators (original shareholders)
- unlimited shareholders (owners of shares and stocks)
- difficult to organize
- unlimited life (registered in 50 years renewable to another 50)

Structural and ownership
organizational structure- a system outlining the goals of the business in terms of activities etc.

types of structure
1. line type- a system where there is a direct line of communication from top to bottom of an organization

sa taas si manager
divided into 3
1. cashier
2. salesperson- gitna naka tapat kay manager
3. crew

  1. functional type- a structure where duties or tasks are divided into different departments based on their functions

sa taas si manager
divided into 3
1. finance- accountant- cashier (patayo tlga to)
2. marketing- salesperson (tapat ulit kay manager)
3. production- prod crew, janitor

so pano malalaman kung superior or subordinate
ex is that, si manager si superior
then production is subordinate

pwede rin nmn production si superior then under that we have prod crew which can be called as subordinate.

articles of corporations- SEC (Security and Exchange Commission)

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10
Q

Form of business organizations

ex: Escalante Bulalohan
- one owner known as proprietor
- easy to organize (kahit nasa bahay lang)
- needs a minimal amount of capital

A

a. sole proprietorship

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11
Q

ex: Yanto law office
SGV & company
- two or more (unlimited) owners -pwede sumobra (3 or hundreds)
- owners are called partners
- partners may contribute money, property or industry in a business venture
- easy to organize and dissolve

A

b. partnership

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12
Q
  • 5-15 incorporators (original shareholders)- original shareholders
    shareholders- hindi pa incorporators
  • unlimited shareholders (owners of shares and stocks)
  • difficult to organize (ksi need isubmit ang articles of corporations sa SEC or (Security and Exchange Commission)
  • unlimited life (registered in 50 years renewable to another 50)
A

corporation

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13
Q

Structural and ownership
organizational structure- a system outlining the goals of the business in terms of activities etc.

types of structure
1. line type- a system where there is a direct line of communication from top to bottom of an organization

A
  1. functional type- a structure where duties or tasks are divided into different departments based on their functions
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14
Q
  • one owner known as proprietor
A

sole proprietorship

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15
Q

easy to organize

A

sole proprietorship

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16
Q

needs a minimal amount of capital

A

sole proprietorship

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17
Q

sole proprietorship - family own businesses (married couple or husband and wife)
partnership- partners na may kinalaman sa professional services
corporations- focus on money such as stocks

A
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18
Q

two or more (unlimited) owners -pwede sumobra (3 or hundreds)

A

partnership

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19
Q

owners are called partners

A

partnership

20
Q

partners may contribute money, property or industry in a business venture

A

partnership

21
Q

easy to organize and dissolve

A

partnership

22
Q

5-15 incorporators (original shareholders)- _____ shareholders

A

corporators

original shareholders

23
Q

_____ - hindi pa incorporators

A

shareholders

24
Q

____________ (owners of shares and stocks)

A

unlimited shareholders

25
Q

difficult to organize (ksi need isubmit ang articles of corporations sa SEC or (Security and Exchange Commission)

A

corporations

26
Q

SEC is _______

A

Security and Exchange Commission

27
Q

unlimited life (registered in 50 years renewable to another 50)

A

corporations

28
Q

Structural and ownership

a system outlining the goals of the business in terms of activities etc.

A

organizational structure

29
Q

types of structure

1.________- a system where there is a direct line of communication from top to bottom of an organization

A

line type

30
Q

types of structure

sa taas si manager
divided into 3
1. cashier
2. salesperson- gitna naka tapat kay manager
3. crew

A

line type

31
Q

types of structure

  • a structure where
    duties or tasks are divided into different departments based on their functions
A

functional type

32
Q

types of structure

sa taas si manager
divided into 3
1. finance- accountant- cashier (patayo tlga to)
2. marketing- salesperson (tapat ulit kay manager)
3. production- prod crew, janitor

A

functional type

33
Q

so pano malalaman kung superior or subordinate
ex is that, si manager si superior
then production is subordinate

pwede rin nmn production si superior then under that we have prod crew which can be called as subordinate.

A
34
Q

articles of corporations- ___

A

SEC (Security and Exchange Commission)

35
Q

2 parts of this section
*structure and ownership
*location

A

chapter 2: company overview

36
Q

ano laman ng business overview

A
  • who you are (company name)
  • what the business is all about/offers
  • what you sell (brand name)
  • goods (bearbrand)
  • services
37
Q

ano laman ng market overview

A
  • who your market are (target customers)
  • how big is your market
    (population of the customers)
38
Q

ano laman ng financial highlights

A
  • profit
  • capital (how much you need)
39
Q

no. of shares
per value per share
amount of total corporations

A
40
Q

This section is a summary of the rest of the plan so this is the part you will write last.

A

EXECUTIVE SUMMARY

41
Q

This section is a summary of the rest of the plan so this is the part you will write last.

A

EXECUTIVE SUMMARY

42
Q

only if they find this section attractive enough that potential investors will dive into the other sections of your plan to get more details.

A

. EXECUTIVE SUMMARY

43
Q

Do not try to tell everything about your business. Keep it short and to the point.

A

EXECUTIVE SUMMARY

44
Q

Who are the owners (proponents):
As part of the anti-money laundering regulation, investors have the legal obligation to check the identity of the owners of any business they invest in or lend money to.

List down the proponents, their addresses and the percentage of ownership.

A

Structure and Ownership

45
Q

If you are writing a plan for a business for which location is important, provide a description of the business location, a location map (screenshot using google maps) and the advantage (or disadvantage) of the business location.

A

location

entrepreneurship (3 decks)

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