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Entrepreneurial Mind > Midterm > Flashcards

Midterm Flashcards

1
Q

Is an entrepreneurial tool in determining the profitability of the business operation.

A

SWOT analysis

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2
Q

Is the price determinants

A

Production cost

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3
Q

Is created when people at the top of the management fail to sustain a vigorous effort for expansion and growthwhen managementsets on his laurels and ventured on vices and other extra activities that will lose his total investment

A

Weak product management

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4
Q

Guiding tools for its plans and programs

A

Mission and Vision

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5
Q

Is the ability to plan, organize, direct, and control the organization towards the goals and objective of the organization

A

Managerial Leadership

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6
Q

Refer to the need in making the product or service

A

Production and Technology Studies

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7
Q

Refers to the capital investment and sources of funding the operation of the business

A

Financial Management

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8
Q

Contains therationale and the background of the study undertaken

A

Introduction

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9
Q

Refers to the originators of the project, its owners or equity holders in the business

A

Proponents

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10
Q

Refers to the hierarchy in organization ladder and their corresponding duties and responsibilities and their respective qualification for the position

A

Personnel Structure

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11
Q

This refers to the market segmentation for teh distribution of teh product or service

A

Market Profile

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12
Q

This refers to the selling price of the product

A

Selling price

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13
Q

It refers to the competing productin the market as to its quality and market acceptability

A

Competitions

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14
Q

Thie refers to the means of reaching the target market or it is the method or strategy to penetrate a particular market segments

A

Channel of product distribution

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15
Q

It is analysis of how competitors distribute the product to existing end users.

A

General Competitive Practice

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16
Q

Enjoys the challenges of putting his money and time into a test without the legs your various alternatives open to him and careful in the choice of actions

A

Positive risk

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17
Q

Deals with how the leader will relate himself With the people around him And those that he will Encounter in the course of his business

A

Human skills

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18
Q

Is an important requirement and making effective decisions

A

Entrepreneur’s natural intelligence

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19
Q

The risk involved in the management of business has to be identified and analyze before solutions could be made

A

Identifying the problem

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20
Q

Good and intelligent entrepreneur Must be able to get the data that brought about the problem

A

Gather the data that brought the problem

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21
Q

Not all information are relevant to the solution of the problem

A

Analyzing the data

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22
Q

The intrapreneur entrepreneur makes various alternative solutions to the problem at hand

A

Formulating alternative solutions

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23
Q

After all alternative course of action has been analyzed the entrepreneur makes the decision. the decision has to be implemented with the last possible risk in terms of money, time, and money

A

Selecting the best alternative course of action

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24
Q

Are best arrived at when people who will be implementing the decisions are properly consulted and their opinions and ideas are taken into account before the final decision is implemented

A

Problems and solutions

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25
Q

Is another vital component that must be addressed before making investments

A

Business firecasting and planning skills

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26
Q

Is usually born by the experience of the entrepreneur from his previous employment or exposure

A

The desirability of the business concept

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27
Q

Are two important factors that encourage the entrepreneur to make the stability of the business become possible

A

Profit and business income

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28
Q

It is designing the firm of ownership of the Business which at the outset is known to the investors

A

Management structure and component

29
Q

Show deal with product demand analysis

A

Marketing and distribution study

30
Q

Refer to the need in making the product or service

A

Production and technology studies

31
Q

Refers To the capital investment and sources of funding operation of the business

A

Financial management

32
Q

The persons in charge of activities in the pre-operation activities

A

Pre-operating component

33
Q

This refers to the personnel that will be assigned the task of handling the day-to-day operations of the business

A

operating period

34
Q

Standard operating procedure must be established to simplify decision making and to pinpoint accountability for operation

A

Development of policy manuals and procedures

35
Q

This refers to the means of reaching the target market or it is the method or strategy to penetrate particular market segments

A

Channel of product distribution

36
Q

It is analysis of how competitors distribute the product to exusting end users

A

General competitive practice

37
Q

This refers to the placeOf target market and approaches to penetrate the marketing niche

A

Geographic segmentation strategy

38
Q

This refers to educational background and the lifestyle of target market

A

Psychographic strategy

39
Q

this refers to the target market as sex, age, income and the other personal factors of the target market.

A

Demographic segmentation strategy

40
Q

this has something to do with the price index of any pricing strategy that will attract customers.

A

Pricing strategy

41
Q

the choices could be retailers, wholesalers, dealership, franchise, or direct marketing.

A

Channel of distribution

42
Q

media network, personal selling, billboard, or any media penetration strategy.

A

Promotion and advertising

43
Q

it tells about the product or service that the entrepreneur will offer to its target market. It is an elaborate presentation of the properties of the products and the benefits related therein. It is the service that will be offered to the target consumer.

A

Product specification

44
Q

it is the detailed layout of the production process as the products goes into the production line indicating the flow process, materials and equipment to be used and normal time table that the product will be finished.

A

Production process

45
Q

– this refers to the volume of production per shift per day or a monthly basis considering target market consumption. It must also make projections for five years forecast and the technical factors involved.

A

Plant related capacity

46
Q

it involves the kind of machine to be used, its sources spare parts, working guarantees, rated capacity per day, and the cost estimates involved in its purchase.
.

A

Machinery and equipment

47
Q

a drawing or plant location and the vicinity map as to its accessibility to supply a raw materials, and the transport of finished product to the market. It must show advatages and other plus factors for employees and other services.
.

A

Plant location

48
Q

– it must describe the type of building that will be constructed or sketch of the building plan, electrical plants, drainage, and other utilities. it must contain the cost estimates involved and the total floor plan.

A

Building and facilities

49
Q

it deals with the raw material requirements and its specification, its source, cost and terms of payment, availability and the possible long term supply. It must alo show alternative suppliers of other sources.

A

Raw Materials

50
Q

utilities refers to the supply of electricity, water, and its availability in the processing of the product. It also has to do with environment disposal of waste and compliance with government requirements. Drainage system has to comply with sanitary requirements imposed by municipal and national laws.

A

Power supplies and utilities

51
Q

this refers to the direct labor and administrative cost in the processing the producs. Unit cost must be computed as basis for pricing and marketing strategies.

A

Production cost

52
Q

this has to do with the entrepreneur fixed cost and the working capital in the operation of the business.

A

Total project cost

53
Q

The contour of the land, it’s size, and shape Must be suitable to the plant site

A

Land area

54
Q

The land area must have ample space for plant expansion and provisions for parking Facilities for customers and employees

A

Facilities for expansion

55
Q

Availability of power supply and the cost of electricity involved in the operation and great factors In the production of goods

A

Power and utilities

56
Q

The building must be within the restrictions codeof municipality or city.

A

Building and other utilities

57
Q

The plant site are must be accessible to public Or service transport for its employees and valued customers

A

Plant site acccessibility

58
Q

Product design Should appeal to customers demand

A

Product design and appeal

59
Q

Is the greatest opportunity of the entrapreneur

A

Product demand

60
Q

Must be maintained according to product standards that are acceptable to customers

A

Product specifications

61
Q

Must be make together with product specifications

A

Production schedule

62
Q

Needs demand analysis for the last five years as to the major users of the product

A

Marketing program

63
Q

Is determined the quality and price

A

Product competitiveness

64
Q

string determinants

A
  1. Leadership and Managerial Abilities
  2. Positive risk takers
  3. self-confidence and positive outlook
  4. Innovativeness and forward looking
  5. Natural intelligence and decision-makingg skills
65
Q

decision making process

A
  1. Identify the problem
  2. Gather the data that brought the problem
  3. Analyze the data
  4. Formulating alternatuve solutions
  5. Selecting the best alternative course of action
  6. Implementing the alternatives
66
Q

the analysis of the ff. steps will benefit the entrepreneur before going into the field of business

A
  1. The change in life path
  2. the desirability of the business concept
  3. the feasibility of the business concept
  4. forming the business enterprise
  5. stability of the business income and profit
67
Q

basic phases of entrepreneurial studies

A
  1. Management structure and component
  2. marketing and distribution system
  3. production and technology
  4. financial management
68
Q

the identification of business opportunity

A
  1. the starting point of conceiving the idea of the type of business
  2. the teachnical feasibility and time frame
69
Q

before venturing into the field of business

A
  1. know your product or service
  2. analyze the market potentials
  3. determine the marketing strategy
  4. know the competition
  5. do not set on your laurels

Entrepreneurial Mind (4 decks)

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