Entrep
Karl Vesper
entrepreneurship is now a concern of various professions
objectives
these should be specific and realistics
small enterprise
a manufacturing or service enterprise wherein the owner-manager is not actively involved in production but performs the varied range of tasks involved in guidance and leadership without the help of specialized staff
trademarks
a word, name, symbol or device used by manufacturers to identify their goods
Sole Proprietorship
business owned by only one person
partnership
formed when two or more partners come together to be joint owners of a business
economic development
process
financial plan
translates into monetary terms the various plans you have for the business
Entrepreneur
an inventor and developer of ideas, change agent, creative, persistent, and a class of his own having his own value system
franchising
business format very similar to licensed business operations
individual interests
business interest of individuals should match business opportunities
manufacturing busines
can be done in your home; creating own product
innovativeness
characteristic of an individual, team or organization; capacity to create ideas and develop them to usable products or services
Harrod-Domar Theory
claims that more products can be produced through the use of machines
financial analysis
consists of computations of profitability, liquidity, and marketability of the enterprise based on the information from the profit and loss statement and the balance sheet
Shefsky
define entrepreneur as someone who enters a business in time to form or change substantially that business nerve center
Republic Act 6938
defined a cooperative as a duly registered association of persons, with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end
Robert Nelson
defines entrepreneur as a person who is able to look at the environment, identify opportunities to improve the environment, marshal resources, and implement action to maximize those opportunities
Jeffry Timmons
describe entrepreneurship as the ability to create and build under wider practically nothing
Joseph Schumpeter
described entrepreneurship as doing things that are not generally done in the ordinary course of business routine; essentially a phenomenon that comes under wider aspect of leadership
Climatic conditions
determine the energy levels of peoples and in turn its rate of development
Racial Heritage
determines the economic development of people
environmental analysis
determining the factors: opportunities and threats
value analysis
doing this requires the would-be entrepreneur to examine his aspirations or vision and mission about the business
innovation
doung something different; introducing either something new or different
Law of Nature
economic development proceeds according to a master plan
dynamic process
entrepreneurial event focuses on the process of entrepreneurial activity and include the initiative and organization as factors
Albert Shapero
entrepreneurship is the process of creating something different with value by devoting the necessary time and effort, assuming
creativity
essential part of innovativeness, the starting point of a process, which is skillfully managed
Kaldor Theory
explains that the application of modern technology in the production of goods and services has been responsible for the economic success of the highly developed countries
Laissez-Faire theory
explains that the government should not interfere in economic activities
Keynesia Theory
explains that the government should play the key role in economic development
cooperative
group enterprise that is made up of a number of producers, traders or consumers who want to produce or trade as a group so that they may avail themselves of economies of scale, which individually, that they will not be able to obtain
entrepreneurial process
involves all the functions, activities and actions associated with perceiving opportunities and creating organizations pursue them
rack jobber
involves an agent or buter entering an agreement with a parent company to market its goods to various stores by means of strategically located stores racks
corporation
involves five or more persons owning business
subcontracting
involves signing up an arrangement with a major producer to complete a set of product components on a pre-agreed price
total project cost
made up of total fixed assets, the working capital and the pre-operating expenses
planning
mental process that requires you to consider all the factors or elements that can affect what you are planning for
dominant partner
neither active in the partnership nor they are generally known to be associated with the business
Entrepreneurship
now prevalent in various professions from education, engineering, law and other areas of orientation
general partner
one who shares ownership and management of the business, and is liable to the extent of his separate property after all the assets of the partnership are exhausted
brainstorming
opening your mind to all opportunities that you see so that you will able to explore all the possibilities
Filipino entrepreneurial economic
our productive resources should be in the hands of Filipinos for their own benefits
nominal partner
partner who actually not a partner, but is held out or represented as a partner
industrial partner
partner who contributes his knowledge or personal services to the partnership
managing partner
partner who is designated to manage the operations of the business
liquidating partner
partner who is designated to wind up or settle the affairs of the partnership after discussion
secret partner
partner who takes active part in the business, but is not known to be a partner by outside
balance sheet
presents details of what the business owns (assets) and its value
profit and loss statement
presents details regarding sales and expenses incurred or will be incurred by the business as of given date
cash flow statement
presents in detail the projected cash expenses and disbursement for a given period
economic growth
product of economic development
copyrights
protects the creative work of authors, composers, and artists
silent partners
refer to partners who do not take active participation in the operation of the business
limited partners
refer to partners with limited financial liability and they do not take active role in the management of the film
Market
refers to the number of prospective buyers, competitors, the price, and the quality of goods and services that have to be analyzed
social-cost benefit analysis
requires you to look at the benefits and costs that will accrue to society in general if your prospective business is established
natural environment
responsible for the rise of civilization
trading (product-based business)
selling involves a lot of customer contact and requires a great deal of persistence on the entrepreneur's part
capital
serves as the fuel that keeps the business operating
ideation
should be the first investment of anyone who seeks to be an entrepreneur and to be called an entrepreneurial business opportunity
resource analysis
simply requires the would-be entrepreneur to evaluate what knowledge, skills, and material resources she has available to use in business
confidentiality agreements
specifically provides that a signer will not share the idea to anyone
Innovation Theory
stresses the role of innovators or entrepreneurs in economic development
market research
the action or activity of gathering information about consumers' needs and preferences
approach
the entrepreneur considers the business opportunity as a chance to solve the problem rather than solving the problem itself
vending machine routes
the entrepreneur needs to have substantial capital outlay as he had to pay for the vending machine
microbusiness
the owner is the principal worker and he employs one or more assistant
service-based business
there is no need to manufacture something
strategies
these are ways of accomplishing the objectives
patents
these gives the inventor exclusive legal rights to exclude anyone else from manufacturing, selling, importing, or using an invention during the life of the patent
wholesalers
these sell product of manufacturers to retailers and other distributors who have direct dealings with end users or customers
Ricardian Theory
this is the theory of David Ricardo focusing on agriculture playing the major role in economic development
entreprendre
to undertake
entrepreneurship
to undertaking a business endeavor though no specific reference as to whether it meant undertaking the business for himself or doing it for someone else
SWOT
tools for evaluating the strengths, weaknesses, opportunities, and threats associated with a particular product or service
capitalist partner
type or partner who contributes money or property to the common fund of the partnership
distributorship
where an independent entrepreneur, company, or individual enters into an agreement or contact to offer, sell, or distribute a particular product
business plan
written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture