prelim Flashcards
entrepreneurship started in
france
entrepreneurship started after
french revolution
the word entrepreneur was coined by _ a french economist
jean batiste say
promotes doing something different rather than making the existing better
entrepreneurship
he said that entrepreneurship provides a dynamic disequilibria brought about by the innovative entrepreneur that brings a healthy economy
joseph schumpeter
mark zuckerberg
apple
steve jobs
the house laurel in makati
rajo laurel
mcdonald’s philippines
george yang
bench
ben chan
national bookstore
socorro ramos
swift foods inc
jose concepcion jr
former secretary of trade and industry
jose concepcion jr
jollibee
tony tan caktiong
megaworld corporation
andrew tan
emperador distillers
andrew tan
3rd most richest in the philippines
andrew tan
308th most richest in the world
andrew tan
jg summit holdings
john gokongwei jr
universal robina corporation
john gokongwei jr
5th most richest in the philippines
john gokongwei jr
asia brewery
lucio tan
tanduay holdings
lucio tan
lucio tan bought the century park hotel in
1985
2nd most richest in the philippines
lucio tan
307th most richest in the world
lucio tan
sm malls
henry sy
philippines’ retail king
henry sy
most richest in the philippines
henry sy
94th richest in the world
henry sy
an act of building and creating a business enterprise
entrepreneurship
the process of doing something new and something different for the purpose of creating wealth for the individual and adding value to society
entrepreneurship
a french word means innovative
entrepreneur
meaning of entrepreneur in french
innovative
someone who creates a new opportunity in the world of business
entrepreneur
people who considering as inventor in the eearly days
entrepreneur
people who created new things or modified old things into new ones
entrepreneur
benefits of entrepreneurship
- creates employment
- improves quality of life
- contributes to more equitable distribution of income and therefore eases social unrest
an individual who takes risk
entrepreneur
resources necessary to successfully exploit opportunity
money
people
organization
risks of entrepreneurship
- risk of failure
- unpredictable business conditions
- long hours of work
- unwanted or unexpected responsibilities
rewards of entrepreneurship
- have unlimited opportunity to make money
- be your own boss
- tap your creativity
- overcome challenges and feel fulfilled
categories of enterprises
- micro enterprise
- small enterprise
- medium enterprise
- large enterprise
asset size less than 3 million
micro enterprise
asset size over 3 million to 15 million
small enterprise
asset size over 15 million to 100 million
medium enterprise
asset size over 100 million
large enterprise
operating boundaries can carry out their affairs while at the same time protecting the interest of cons
fair trade law
recognizes the special role of women in developmental and supports women entrepreneurship
R.A. 7882
an act providing assistance to women
R.A. 7882
business name registration
R.A. 3883
protects the use of its registered name, goodwill, and patronage that it represents
R.A. 3883
reserves the business of direct selling it the ultimate consumer to 100% filipino owners
reatil trade act of 1954
lowering the tariff structure to encourage technology innovations amonf SME’s by lowering the cost of imported equipment
E.O.’s 264 & 288
omnibus investment code
E.O. 266
welcomes private investments whether local or foreign
E.O. 266
incentives are given to economically desirable projects listed in the annual investment priorities plan
E.O. 266
decentralization of services to the regions and increasing participation of the local government
decentralization / localization
entrepreneurs often use their own savings to fund their ventures
personal savings
include money saved from previous jobs or investments
personal savings
raise funds from friends and family members
friends and family
cab be done through a loan or an entity investment in the business
friends and family
are wealthy individuals who invest in early-stage startups
angel investors
they provide capital in exchange for an equity stake in the company
angel investors
they invest in startups that have high growth potential
venture capital
provide larger amounts of capital than angel investors
venture capital
provide mentorship and guidance to the entrepreneurs
venture capital
forms of entrepreneurial capital
financial capital
human capital
social capital
intellectual capital
emotional capital
entrepreneurs can also loans from banks or other financial institutions
bank loans
entrepreneurs may be eligible from government agencies or non-profit organizations
grants
these do not need to be repaid, but they often come with specific requirements or restrictions
grants
these loans may be secured or unsecured
bank loans
they may require collateral or a personal guarantee from the entrepreneur
bank loans
most common sources of capital
personal savings
friends and family
angel investors
venture capital
bank loans
grants
can be developed through education and training, work experience, and networking
human capital
the money invested b an entrepreneur to start and grow a business
financial capital
the ideas, inventions, and intellectual property that an entrepreneur creates
intellectual capital
can come from personal savings, loans, or investments from friends, family, or investors
financial capital
the knowlegde, skills, and experience
human capital
the relationships and networks that an entrepreneur has built
social capital
can provide access to resources such as funding, customers, and suppliers
social capital
can be protected through patents, trademarks, and copyrights
intellectual capital
the passion, drive, and resilience
emotional capital
thus is essential for overcoming obstacles and persisting through the challenges of starting and growing business
emotional capital
