ENTREPRENEURSHIP 4
BY LETTING THE CUSTOMERS ANSWER A CLIENT INFORMATION SHEET AND ANALYZE IT
How will an entrepreneur analyze the customer base of an established business business?
MARKETING
To what unit in the process of the enterprise delivery system does product advertisement through social media belong?
POLICYHOLDER FLOAT FINANCING
Under which type of debt capital does accident insurance of the employees of a business fall?
INTERNAL SOURCES OF OPPORTUNITIES PERTAIN TO THOSE FACTORS THAT CAN BE CONTROLLED BY THE MANAGEMENT
What can you infer from the statement below? "Microenvironmental sources include factors of resources available that directly affect individuals and businesses."?
BUSINESS NAME REGISTRATION CERTIFICATE
What certificate is needed to secure a business with a trading name and can protect the business from being used by others without the permission of the entrepreneur?
INCOME STATEMENT
What financial forecasting report lists projected revenues and expenses?
LIKES, TASTES, AND DEMANDS EXHIBITED BY A GROUP OF CONSUMERS
What is meant by "consumer preferences and interests"?
SETTING BUSINESS IMPERATIVES AND UTILIZING SOURCES OF BUSINESS OPPORTUNITIES
What is the main idea behind opportunity seeking in the entrepreneurial aspect?
TARGET CUSTOMERS
What refers to a selected and well-defined client segment among the business's serviceable markets?
VALUE PROPOSITION
What refers to the worth an organization guarantees to deliver to the customers should they prefer to purchase its product?
PRODUCT OR SERVICE OFFERING
What section of the business plan contains the description of the product or service that a business offers?
ENTERPRISE STRATEGY
What term refers to the set of choices and actions geared toward gaining a sustainable competitive advantage?
THE ENTREPRENEUR WOULD LIKELY EXPERIENCE LOSSES AT THE OUTSET OF HIS OR HER BUSINESS EXECUTION
What would be the result if an entrepreneur failed to seek opportunities before establishing his or her business?
ANALYZE THE OPPORTUNITIES AND THREATS RELATIVE TO PUTTING UP SUCH A BUSINESS ESTABLISHMENT
What would you suggest if an aspiring entrepreneur wants to put up a business that is already existing in the same area of his or her intended business location?
IT IS THE STAGE WHEREIN THE ENTREPRENEUR STARTS LOOKING FOR PROBLEMS OR CONFLICTS IN THE INDUSTRY WHICH REQUIRE EFFICIENT SOLUTIONS
Which best describes the "opportunity seeking" stage in entrepreneurship?
IT IS A STATEMENT OF THE ASSETS, LIABILITIES, AND CAPITAL OF A BUSINESS OR ORGANIZATION AT A PARTICULAR POINT IN TIME, DETAILING THE BALANCE OF INCOME AND EXPENDITURE OVER THE PRECEDING PERIOD
Which of the following best describes a balance sheet?
IDENTIFYING THE BEST PRODUCT BASED ON THE AGE BRACKET
Which of the following exhibits correct segmentation of the market?
PEOPLE BEHIND THE PRODUCTION OF THE PRODUCT
Which of the following is not part of the content of the products or services section of a business plan?
DEMOGRAPHIC
Which of the following is not part of the microenvironmental sources of opportunities?
INDUSTRY AND MARKET DISPARITIES
Which of the following sources of opportunity pertains to the fluctuation of laws and rules through regulations and deregulations?
SOLE PROPRIETOSHIP
Which of the following types of business does not need to secure a Security and Exchange Commission registration certificate?
BUSINESS OPPORTUNITY SPOTTING INVOLVES THE INCORPORATION OF A FRAMEWORK THAT WILL HELP THE ENTREPRENEUR DECIDE ON THE IDEAL PRODUCT OR SERVICE THAT WILL BE OFFERED TO THE MARKET
Which statement best supports the idea behind business opportunity spotting and assessment?
CONTRIBUTED CAPITAL
Which type of capital structure is being exemplified by an investor investing P100,000 in a business?
BECAUSE OF THE CONTINUOUS ADVANCEMENTS IN TECHNOLOGY
Why are technological discoveries considered as significant sources of business opportunities?
BECAUSE ALL OTHER SECTIONS OF THE BUSINESS PLAN ARE ANCHORED IN THE PRODUCT OFFERING
Why is the product and services section considered to be the heart of a business plan?
TO PLAN FOR BETTER AND RIGHT PRODUCTS OR SERVICES BASED ON THE PERCEPTION OF THE TARGET MARKET
Why is there a need to identify customer needs?
Target Customers
-refers to a selected and well-defined client segment among the businesses' serviceable market.
Debt equity
-refers to any borrowed money that is currently at work in the business.
Equity Capital
-refers to any money put up and owned by the shareholders.
Capital Structure
-refers to the combination of debt and equity to use as the company's fund and finance its operations.
Value Proposition
-refers to the worth an organization guarantees to deliver to customers should they prefer to obtain their product.
Balance Sheet
-shows the financial position of the enterprise as of the given period of time. It reflects the total assets, liabilities, shareholders, and earnings preserved to fund future operations or to serve as funding for expansion.
Income Statement
-shows the revenues, cost of goods sold, operating expenses, other income and expenses, financing costs, income taxes, and bottom-line figures.
INPUT
An entrepreneur buys machinery for her business. Under what process of the enterprise delivery system does this action fall?
RETAINED CAPITAL
An entrepreneur has savings from the previous year and wants to use it as a capital for the following year. What type of capital is being described in this situation?
External/Macroenvironmental Sources
Any enterprise, company, or organization is not alone in its business environment. It is always surrounded by an array of factors and forces that help in shaping opportunities but also pose present threats to the company.
Internal/Microenvironmental Sources
pertain to those factors that can be controlled by the management. It includes factors of resources available that affect individuals and businesses.
Enterprise Strategy
-is a set of choices and actions geared toward gaining a sustainable competitive advantage.
Policyholder float financing
- In the case of insurance firms, this often refers to cash that does not belong to the business; however, it earns an investment until an insurance claim has been made.
Vendor financing
- It happens once a company sells a product before having to pay their vendor. This could dramatically increase the company's return on equity while not costing the business any upfront.
Long-term bonds
- It is generally considered one of the safest types because the business will have several years to pay the principal while paying the interest only in a short period of time until the loan matures.
Contributed capital
- It is the money that was originally invested in the business for shares of stock or ownership in return.
Retained capital
- These are profits from previous years that have been secured by the business and used for fund growth, acquisitions, or expansion.
Entrepreneurial Opportunity Seeking
-Being coined as the "innovative opportunity seekers" in the business industry, entrepreneurs are equipped with a spirit of inquiry that will help them decide which products or services are most likely needed in the marketplace.
Cash Flow Statement
-It is a projection of money receipts and expense payments. It shows how and when money flows through the business. It provides verification of whether a company has enough liquidity or money to pay its expenses. -may be a valuable measure of strength, profit, and the long-run future outlook for a company.
Financial Forecast
-It refers to the capital investment and sources of funding in the operation of the business. This section will show the financial projections over a period of one year and five-year program and shall determine the rate of return of investment.
Product and/or Services Offering
-This section must showcase the standard, value, and advantages your business offers. -a short explanation of the products or services you are offering the proposed price of the products or services differentiation between your products or services to be offered and your competitors' offering -information about your marketing styles and strategies -the process on how your customers will process or fulfill their orders -any legal issues that you need to address like intellectual property and/or trademarks -any products or services you plan to offer in the future
Enterprise delivery system
-involves harnessing human, money, and physical resources from well-selected suppliers. These resources become the input that the operations unit within the enterprise delivery system will convert or transform into output.
