Topic 1 - Job Opportunities for Entrepreneurship as a Career

Question 1

Analyze organizational practices, identify weaknesses, and recommend solutions.

Answer 1

Business Consultants

Question 2

Types of Enterprises according to concept

Answer 2

a) NEW-NEW
b) OLD-NEW
c) OLD-OLD

Question 3

How to Create New Ventures

Answer 3

a) Boostrapping
b) Minipreneurship
c) Funding

Question 4

This usually means creating or stumbling on a new idea or concept, and creating or inventing something radically new. The inventor then builds a new business around this product.

Answer 4

New-New enterprise

Question 5

An enterprise that is built on an existing concept. This usually means creating a new business based on the existing concept.

Answer 5

Old-New enterprise

Question 6

An enterprise that involves an existing concept and an existing business

Answer 6

Old-Old enterprise

Question 7

Through highly creative acquisition and use of (sometimes other people’s) resources.

Founding or running a company using only personal finances (savings and credit) and or operating revenue.

Relies greatly on networks, trust, cooperation, and wise use of existing resources.

Answer 7

Bootstrapping

Question 8

Main objective of Bootstrapping

Answer 8

For the venture to stay alive

Question 9

Pros of Bootstrapping

Answer 9

The entrepreneur maintains control of the venture

Question 10

Cons of Bootstrapping

Answer 10

Increase financial strain

Question 11

consumers who create, produce and trade goods, services and experiences.

Answer 11

Minipreneurship

Question 12

a person whose business is based on the expert knowledge or experience that person has acquired and how they leverage the Internet.

Answer 12

Minipreneur

Question 13

Example of minipreneurship

Answer 13

ebay trading, blogging, vlogging, podcasting, online stores, online training, freelance research, copywriting and editing, consultancies, and transciption services, etc

Question 14

borrowing funds from another party - e.g.,
banks, credit cards, family or friends

Answer 14

debt

Question 15

provide financing in exchange for part ownership in the business

Answer 15

equity

Question 16

(1) financial gift given for a specific purpose by a government agency or a charitable organization

(2) assistance and shared services from a business incubator or an accelerator

Answer 16

Grant

Question 17

Types of Debt Financing Solution

Answer 17

Working Capital Loans
Invoice Factoring Loans
Business Overdraff Loans
Hire-Purchase Loans

Question 18

A funding option that offers immediate influx of cash to cover companies daily expenses

Recommended for short tem financial goal

Answer 18

Working Capital Loans

Question 19

A funding option that is granted to companies in exchange for their account receivables or outstanding invoices.

Suitable for SMEs due to its flexibility in funding approval.

Answer 19

Invoice Factoring Loans

Question 20

Types of Equity Financing

Answer 20

Angel Investors
Venture Capitalism
Crowdfunding
Initial Public offering

Question 21

A funding option that attaches the line of credit to the firm’s business bank account allowimg the firm to access capital beyond their credit limit.

Suitable for SMES for it’s flexibility in term limit

Answer 21

Business Overdraff Loans

Question 22

a funding option that allows a company to acquire control or manage the asset by making an initial down payment and paying the balances on instalment basis

enable SMEs with low cash flow to acquire expensive yet essential assets

Answer 22

Hire-Purchase loans