Nature And Type Of Entrepreneurial Venture

Question 1

Forms of Entrepreneurial Venture

Answer 1

1) Sole proprietorship
2) Partnership
3) Corporation

Question 2

Forms of entrepreneurial venture refers to the category of business according to?

Answer 2

Number of owners

Question 3

A business venture owned by one person

Answer 3

Sole proprietorship

Question 4

Advantages of Sole proprietorship

Answer 4

1) Easy to form and manage
2) Simple business operation

Question 5

Disadvantage of Sole proprietorship

Answer 5

1) Growth is limited
2) The capital is shouldered only by the owner
3) The owner has unlimited liability

Question 6

Business venture that is owned by two or more persons.

Answer 6

Partnership

Question 7

Advantages of partnership

Answer 7

1) shared liabilty
2) shared capital
3) Fewer legal obligations

Question 8

Disdvantages of partnership

Answer 8

1) Profit sharing
2) Disagreements
3) Personal insolvency of the partners

Question 9

This is an entrepreneurial venture formed by atleast five but no more than fifteen persons.

Answer 9

Corporation

Question 10

A corporation is considered ——— when it is authorized to issue shares to stockholders

Answer 10

Stock corporation

Question 11

The owners of stocks are called

Answer 11

Stockholders

Question 12

Type of corporation that does not issue stocks to members.

Answer 12

Non-stock corporation

Question 13

Evidence of ownership of corporation

Answer 13

Certificate of stocks

Question 14

A business organized under tha law of the Philippines

Answer 14

Domestic corporation

Question 15

Nature of entrepreneurship
MSMAHS

Answer 15

Merchandising
Service
Manufacturing
Agriculture
Hybrid business
Special Corporation

Question 16

Nature of business that is engaged in the buying and selling of products or goods

Answer 16

Merchandising

Question 17

Examples of these are grocery stores, hardware stores and dry goods.

Answer 17

Merchandising

Question 18

Type of business provides service to the customers

Answer 18

Service

Question 19

Nature of business that is a producer of goods or products.

Answer 19

Manufacturing

Question 20

Manufacturing requires?

Answer 20

Four Ms
Manpower
Method
Machine
Materials

Question 21

Example of this nature of business are furniture shops, bakeshops, rattan factories, etc.

Answer 21

Manufacturing

Question 22

This nature of entrepreneurship is the production of agricultural hoods and animals. Selling raw materials.

Answer 22

Agriculture

Question 23

This nature of entrepreneurial venture
Possesses the characteristics and nature combined types of business entities

Answer 23

Hybrid business

Question 24

May include cooperatives, joint ventures and non profit organizations

Answer 24

Special corporation

Question 25

Production system

Answer 25

INPUT PROCESS OUTPUT

Question 26

Input needs? MMMDI

Answer 26

Manpower Materials Machine Design Instructions

Question 27

Production process

Answer 27

1) Acquisition of raw materials/ Manufacturing supplies 2) Inspection of materials 3) Storing of acquired materials 4) Issuance of materials and supplies to the production line 5) Inspection of goods 6) rework or repair defective goods 7) transfer to storage room

Question 28

The process in which products are distributed

Answer 28

Output

Question 29

For materials FIFO

Answer 29

First in first out

Question 30

For employees LIFO

Answer 30

Last in first out

Question 31

Simply refers to the workforce involved in the manufacturing of products.

Answer 31

Manpower

Question 32

Educational attainment Status of employment Number of workers Skill and expertise

Answer 32

Manpower

Question 33

Refers to the process or technique of converting raw materials to finished products

Answer 33

Method

Question 34

Product produce Mode of production Manufacturing equipment used

Answer 34

Method

Question 35

Manufacturing equipment used in the production

Answer 35

Machine

Question 36

Types of products to be produced Production system to be adopted Cost of equipment Efficiency of equipment

Answer 36

Machine

Question 37

Refers to the raw materials needed in the production

Answer 37

Materials

Question 38

Entrepreneur may consider the following important factoes in the selection of raw materials

Answer 38

Cost Quality Availability Credibility of suppliers

Question 39

You must design a particular markeing program or strategy that wll deliver the value of your product to the target consumers. this is called?

Answer 39

marketing mix

Question 40

marketing mix is also known as the 7ps

Question 41

7 Ps of marketing mix

Answer 41

Product Price Place Promotion People Packaging Positioning

Question 42

this is the tangible good or intangible service offered by the business to the target customers.

Answer 42

Product

Question 43

the entrepreneurs themselves have to create the need or want. what p of marketing mix?

Answer 43

Product

Question 44

the two basic entrepreneurial tenets relative to the product

Answer 44

the product is only produced once there is an existing need or want the product must satisfy the need or want better than the competing product.

Question 45

variables that highly influence the setting of prices in marketing mix. name three. ACTPSD

Answer 45

Availability of the competing products Cost of making the product Type of product Presence of substitute product Stages of the product in the market Demographic profile of the target consumers

Question 46

this marketing mix is the location of target consumers are.

Answer 46

Place

Question 47

what is a strategic place?

Answer 47

the site in which where the target market are most prominent.

Question 48

this refers to the mode of conveying the presence and attributes of the product to the target consumers. what marketing mix?

Answer 48

promotion

Question 49

this marketing mix share to the consumers the benefit, price and position of the product. It creates awareness that will elicit their desire to buy.

Answer 49

Promotion

Question 50

this refers to individual employees or workers who are directly involved in the production, marketing, and sale of the product or service?

Answer 50

People

Question 51

this term simply means tht the educational background and expertise of the person who occupy the position match the requirement.

Answer 51

right

Question 52

this refers to the process of putting the product in a container. it includes the kind of materil used for the wrapper or container and the label and product information printed in the container. what marketing mix iss mentioned?

Answer 52

packaging

Question 53

the packaging must be?

Answer 53

- user friendly (easy. to open, attractive, readable and complete with necessary info)

Question 54

Major parts of a business plan IEEBOPOMFA

Answer 54

INTRODUCTION EXECUTIVE SUMMAR ENVIRONMENT ANALYSIS BUSINESS DESCRIPTION ORGANIZATION PLAN PRODUCTION PLAN OPERATION PLAN MARKETING. PLAN FINANCIAL PLAN APPENDIX

Question 55

THIS PRESENTS THE GENERAL PERSPECTIVE OF THE BUSINESS, IT MAY CONSIST TWO PAGES. WHAT PART OF BUSINESS PLAN?

Answer 55

INTRODUCTION

Question 56

THIS PRESENTS THE GENERAL PERSPECTIVE OF THE BUSINESS, IT MAY CONSIST TWO PAGES. WHAT PART OF BUSINESS PLAN?

Answer 56

INTRODUCTION

Question 57

I

Question 58

PARTS OF INTRODUCTION IN BUSINESS PLAN PANDLF

Answer 58

PROPOSED NAME OF BUSINESS ADDRESS OF THE BUSINESS NAME OF THE OWNER/S DESCRIPTION OF THE BUSINESS LOCATION FUNDING REQUIREMENT

Question 59

THE PROPOSED BUSINESS NAME MUST HAVE? RPPA

Answer 59

reflect the business identity and image promote the philosophy values and culture that is valued the most profess the brand identity attract or influence the consumers

Question 60

its important that the address of the business is correctly written because al business correspondence are mailed o the business address. true or false

Answer 60

trew

Question 61

in the name of the owner, for partnership, the names should be accompanied by what?

Answer 61

extent of liabilities

Question 62

these are the persons who originally formed the corporation

Answer 62

incorporators

Question 63

what is written in the description of business?

Answer 63

Brief summary of the service or product, values and mission and objectives

Question 64

the Location of the business should include? PDPPT

Answer 64

Proximity to target customers distance from the source of raw materials, labor and utilities availability and cost of transportation peace and order situation presence of direct competitors the geographical aanc climatic conditions

Question 65

FUNDING REQUIREMENT AND COST

Answer 65

allocation of total cost