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