| © ENTREPRENEURSHIP | ENTREPRENEURSHIP [reed oops nncaecerés | LET Table of Specifications |PowerClster I 1 dently the characests of entrepreneurs andthe @ Persuasion and networking entrepreneurial competencies = srategzes tointuence oars, uses people 2. Analyze predction and marketing processes 2: agers fo accomplsh goals, develop nd 3. Develop a simple busness feast sty martars coiacs | . 10. Independence and sl-conkdence 4 | 1. Identify the characteristics of + mee mere entrepreneurs and their entrepreneurial ‘expresses confidence in own ably competencies Source UNCTAD EMPRETEC What san ENTREPRENEUR ? + “eneprende * an innovator of developer who recognizes and seizes Fitpie Exepeema ‘opportunities, converts those opportunites ino workableimarketeble ideas, adds value trough tine, efor, ‘money o skis, assumes the risks ofthe compeeiive + Henny 5y- SM Mal 1 Tan Tan Coking — soibee 2 [oan Getergwet = Cebu Petic and Robinsons Dept Te ae canta Ea nem . rn " tans sia + Hepa yt papi ei aati cae pom “Ede en oriented business Heserel . eat soneneg ton ce oerermpvarsoF ootlg os . SUCCESSFUL ENTREPRENEURSHIP: + Anenging of economic growth (increased incomes) and job creaton «Eris pat busines one 1 Malye TRUTHS or THs? + Ramona, Entepreneurs ae bom, not made Entrepreneurs are academic and social misfits Envepreneurs ft an idea profie Entepreneus are gamblers ‘Abit to adapt to change ‘The Entrepreneurial Process 11 Dacding to become an entrepreneur Entepreneus are motvated only by money ‘All youd is money fo be an enzepreneur 2 eae ances ae All youneed is lickto bean entrepreneur an entrepreneunal (CHARACTERISTICS OF ENTREPRENEURS 4, Managing and growing the entrepreneur fm. ‘ehiavement Custer vive nie . 1. Opportunity seeking and intaive : ee 1 seaesapprines dons agate + Ser epimes 2. Risk aking + calculateseduces risk, evaluates options HOW TO GET BUSINESS IDEAS 3. Demand ioreficiency and quality . + fds ways todo better, aster, cheaper eee cinco knee 4, Pesistence ‘+ takes action nthe face of an obstacle 5. Commitment to work conract “+ expends extraordinary efoto complete i ‘Thnk about possible solutions to a problem, Find gap inthe existing market place Discuss with trends and neighbors ‘Consult wth those who are curently inthe business crg/elspublcatonsicieneo Odconcepts pat Planning Cluster 6, Information seeking ‘+ seaks nfo from experts, cents, suppers, competitors 7. Goal settng ‘+ measurable short tem goals, meaningtul goals articulates longterm goals 8, Systematic planing and monitoring + _ breaks lage tasks, revises plans 35 va ooe wie nesses ini Si oar bea Le ma ae pasmtcornon va 852. Develop simple business feasibility study TYPES OF BUSINESS PLANS a a) sentenres be et Sees ELEMENTS OF A BUSINESS PLAN Executve Sunmary A Business Desorption Business Overview Products and Services Market Analysis Market Charactensties Target hark Profle Competitor Assessment Marketing Plan Product Price Place Promotion Operating Plan Management Operations oo Production Faciites Legal issues F Financal Pian Profi Potential TYPES OF BUSINESS ORGANIZATION Sole proprietorship ‘© One arner, if kite to comer’ if, no formal charter, few govtrules Partnership ‘¢ Twoormore partes, fe chosen by condions n agreement Corporation ‘+ Many shrebolders,urlimted if, nner not abe for comperate debs, many regulations, costly and time consuming o fom partners, TYPES of ENTREPRENEURIAL ACTIVITIES + Retailing - selon a per piece bass: cash fr goods bought for personal consumption, + Wholesaling ~ sll merchandise n bulk to customers whose purpose ireseling them Cred is usualy extended to estabish regular buyers + Manufacturing - cretion of goods rom raw mates, or the assembly of pats to produce a finshed produc. Generally. ‘marulacturers sel her goods to wholesalers, who in tun pass these on to retalers + Service - business thal equres work fo be done, wih or hou the use of fools or equpment, whether skied or unshilled. ‘om EXCL USE OF uNOOTU 01 TENE LET COACHING TRAMES ALL OTS RESERYED. UnaUTNORaRDCOPYvG REMROQUCTEN BNO DSRUTENS WTELLECRN THF NO PUNSHLE YM PAPE COPY LAN Irerf tromscronrnocess ENTREPRENEURSHIP 3 Analyze production and marketing process in an enterprise W's of Management Manvmanpower Money Maleais Machines Melhods/procedurftechnclogy Market Mrutostime Mowabonmorale Measurement Asr Prlilrcel bonny BASIC MANAGERIAL CONCERNS OF BUSI 6 ning — Whatis tobe done of what brSiness to pulp. 8) C/O fe . gancing- What procedures to implement or who wil 9 ¢ - fy /%p perform which asks 3. Stafing -Empoy experienced and responsible individuals | y + Diecing - Make workers funcion efflactvely nthe implementation of te plan provide supervisory series + Evaluating - Assess the flow of business operation 10 5, fad out whether ts dong wel or ‘pity Uncontalled, the situation can destroy the whole " enterprise, | “= + “Th slo-by sen companion of on ama ener TC + Stopproducngit TRROOUCTIN NO DSTRBUTON S TELECTUA THT AO UNSHAGLE BY ME PPE CCUM LAN ‘ ENTREPRENURESHIP DRILLS. Which of he ftioning encernpassen the spit ion, and tel enaderai oF ‘dog the nght Bg"? A decisionmaking 8 etivabon Clears optimization ‘ofthe folowing ar characteris shared by 90° cenreproneurs EXCEPT A Risk aversion B Passion © Productiestoma focus 1D Tenacty despite tale ‘Wich of he fatlowing quatis should one possess to close a sale? A iluence B. persuasion © iiognty encouragement Wich of he folowing best describes someane who m rsponsibiies, and is dken,rluble nd and proession commted in perfoang ones tasks? A honest B accountable © visonary respect ‘What sth dspositon fo pass up an immacate advantage oF raticaton and indicates te abit to avoxd explain a known opportunty for seltinterest? ‘A valuesaden 8 empathy Cmoalty © seltconte (Which characteristics ofan entepreneur refers to he inherent ‘exjoymentnentenng a partcula type of actvty? A tenacity 8 enthusiasm ingenuity D. stamina Wich refers othe ably to exhausts of energy and dive and work intensely? A goal onented 8 hardworking © seltconidence Dnsktaker ‘When management is considered successtul in running company? ‘A. management consstenty adopts new trends and practices the workers sis ave utized to the fullest © management 1D. the workers inthe rank and fh ‘Which of the following isthe biggest cause of small business failure? ‘A. wrong locaton B. lack of experience C.poor management skits 1D. poorly planned expansion 88OO a 18. How can entrepreneurs be evaluated? ‘A. lookin the educational attainment ofthe entrepreneur testng the entrepreneur on his abit fo conceptualize and pian the business Comparing his annual ross sales with other businessmen ‘eoping records on the diferent seminars and specialized ‘courses he attend ©. o. 20. Which ofthe folowing statements characterizes an iron fisted leader? ‘A. I donot ike others questoning what | do. B. tke to work where all my members meet minds C. | wish to get somebody s help n making my decison D__Lenjay selng probiems wit my team members Production and Marketing Process 1. Whatreters tothe function of deciding what to produce, how, where ‘and when to produce? A Leadership 8. Production ©. Management D. Marketing Allexcept one is within the scope of production management, Which one? A 8 ©. D Product pricing Product design ‘Materals management Quaity contol \Wihich is a management function of choosing or generating ‘organizational ctjectves and then detemining the curse of action ‘needed to acheve those objectives? ‘A Organizational function 8. Controing function ©. Dreeting function DL Planning function Which of the folowing refers to a set of actual and potential buyers of a product? A” Matketing management B. Glent C_Matketing concept Market \When does the need for sales promction become indispensable? A. When there isa gteal demand forthe product \Wen one takes into account he sales volume of the products \When the customer satisfaction sof prime impertance When the producer wants to make product popular inthe market 8 e 0 ‘Which marketing concept pertains primal to how a rim citerentitas ise from competitors? Establishing a unique postion ‘Segmenting the market Establishing a brand Selecting alaget market Soar FOR EXCLUSNEUBE OF MNOGYM OW MTENIVE LET COACHING TANEES AL OTS RELERVED. \NAUNCREED COPY REPCOUCTEN WO DSTREVTONS TELESTATS NO ROME BY TA oe CoP ne ENTREPRENURESHIP DRILLS At which stage of the product oe there a need for he entrepreneur target new customers and get a sie of hs ‘competitor's share Brough price cuts of product re-aunches? A Devine 8 Matunty C,. Grow 8 _foduction ‘When is authonty delegated? ‘A. Responsibaty assigned B. Duties are assigned to rank and ie level © Workis gven oa supena bya subordinate , Organization power senrustd oa subordinate by 2 superior ‘An effectve marketing strategy must incuude the 4's. aside from fwotucl pce and place Wha the 4 Pan efecve marketing stategy? A Palet 8 Panes G Proneten 1D Personnel 10, Whats a major advantage of seling rect? ‘A. Being able to contol he process of moving products from their place of ongn fo the end user instead of relying on tard parbes, B._Tensures fm that they have te services of high quality marketing intermediaries CA nm does not need to own as much ofthe dstnbuton channel D. Afi have les of ts capital ted up in fxed assets Feasibility Study 1. What serves as comprehensive blueprint for success of an exirepreneur? ‘A. Business plan Bite plan ©. Environment scan D. Personal porto 2 business plan is mportant forall ofthe folowing reasons EXCEPT, A ‘Abusiness pian is a seling document that enables @ company ‘opresent set to potential suppbers and business pariners. ‘Abusiness pian forces a firm's founders o systemalically thnk through each aspect of ther new venture. business plan provides lenders and investors assurance that they wil ear a decent retum ‘Abusiess plan prowdes an investor with something o react to. 8 c D ‘What kind of anaysis provides deta for opportunities and threats of ‘a business for more eflectve market planning deasions? A. SWOT analysis Enronment pan oS a NSIS tees read be ema he "provides m-depth dscussion Industy in which the frm tends 1 complete lesummarces te fim’ key executes "als wit the day-to-day operations the ccmpany ofthe major reds te 89Ne ne ENTREPRENURESHIP DRILLS ‘A Landiltoniy 5. Allofthefolowng are sutable questions o ascertain Bil ProducServce Desabilty EXCEPT: Cc tenly ‘A Does make sense? eta 8. the produc or sec francalyfeasbie? © stweapoot tne onotice Be ped ersevce nthe 13. Whcholtefloving is NOT he conc ng rg A? market? 'A_ Evaluating the resources, capacives and distincve Ae ther any fatal faws in the producto service's basic design competence ofthe organzaion oF concept? 8 Cnoling credit exesion and schedsng of prosucton C_Aalysing he opportunities and sks ofthe on 6. Which of the folowing conditions would make an industry more 1 Detng the priontes,commtments ard goal othe threaing tonew entanis? orgnzaton ‘A. High capt requements Less presence of eccnomies ol sale 114 Which ofthe fallonng iene ofthe weaknesses sa C._Buyers win low band yay enterpises? D._Lassseztare goverment pices in the market A Lessbueauracy &Financalltaon 7. Inwich secon of a busness plan should the resutofthe feasbity C.-—Lean staf analyss typcaty be preseried? 1D. Greater autonomy A Company descpion Operations pan 15. Which of the folowing is NOT a reason for an entrepreneur fo. open & © Financel plan store nthe communty? D._ Industy nays ‘A. He can adjust the quantity of merchandise and serces othe customer's demand 8 What is @ mayor advantage of a sole propnetorship? A propnetorship |B. He knows the ifestyle and income of the people bving nthe area Protect the onner shoud a dsgrurtied customer attempt to C_He can rely spend his bme outside the soe, dong whet he sue for damages wants oo 8 Canbe started formes entrepreneurs, na single day 1. Henas excess cash to use forinvertory and supplies C. _Requres approval em goverment agencies 10 cease operations 16. What do you cal peopl who take over a busines started by Is favoured by lencng insite Someone ese and se ta own ideas to make i mare successt? A Capitalists 9. How do youdetne a compton in business? Franchises ‘A Apersoral enemy can enceprenexr C._vertors| BAperson who leas and commands a business D Speculators CC Abusiness who is rnovatve Anal an entrepreneur to nsiner vente 17, Whats the process of uing treats io opportunities? A. Sratage management 410. What the purpose of conducting @feasity nals? B SWOT andyais ‘A. The feasbity analysis helps you to determine whether your Matis management idea a abl fourdaton fra sucess business D.Decsion ree 18 The feasblty analy helps you to discern whether you willbe able to gather enough capt o start the business. ©The feasbiey analysis wil alow you to quatly for goverrmental inputs Rare and unique 18. Which resources shouldbe prefered by an entrepreneur as business ? loan programs 1D The feasibley analysis alows you to know which frm wi be 8. Abundant and avaiable best io use for manufacturing your prcctype. Indigenous Local and imported 411 Which ofthe folowing refers tothe number of subordnals & supener can manage efecively given the typeof tak technlogy 19. Is an assessment ofthe overal appeal of he product or and envronment? ‘service being proposed, A Cenvaized organzaton A Concept sing 8 Deparimentaized aganzaton B. Test marketing © Spanol control © ProduclServcefeasibity analysis Cooperative group D.Usabiity testing 12. Which of te folowng business trends tends to encourage 20._ Which of the followings the final step ofa comprehensive feastily decentaszaton? analysis? "8 ib aaa | Product diversification A. Filing articles ofncorperaton i Telecommunicaton B_ Fnancial feasibly anaysss IL Geographical expansion C._Marketng research 1D. Industrymarket feasibility analysis rontacune to oor wTNE Ai ane AL CIT EE aL oes ern ELECT OTTO ODA VE MAINE CR 90HOW TO START YOUR OWN BUSINESS 1. Have an idea Come up wth an idea, Consider if tis possible Be surei's unique 2. Moke a business plan Determine your costo operation Determine your potential market Determine impediments 3. Make a marketing plan Wt op a bose Create ideas fing your budget Plan timing and locaton of marketing 4. Get fnancing Talk with your bank Getlocal investors ‘Seek venture capitalists or angel investors Approach friends and relatives Use crowd4unding Report 5. Build infrastructure Get an office Purchase equipment Create a records system 6 Build a customer base Make use of marketing and pubic relations Use a ite old fashioned networking Have great customer serie skis, Have a website 7. Getpaid GOVERNMENTAL REQUIREMENTS for DOING BUSINESS in the PHILIPPINES 1. Verify and reserve the company name with the ‘Secures and Exchange Commission (SEC) ‘Agency: Secures and Exchange Commission 2. Deposit the paid-in minimum capital atthe bank ‘Agency: Bank 3. Noarize ates of incorporation and treasure’ affidavit atthe rotary Agency: Notary 4. Register the company wit the SEC and receive pre-registered Taxpayer Identification Number ‘Agency. Secutties and Exchange Commission 5, Obtain barangay clearance 6. Pay the annual community tax and obain the community tx certificate (CTC) ftom the City Treesurer’s Ofice (CTO) ‘Agency. Ciy Treasure’ Office 7. Obtain the business permit to operat from BPLO ‘Agency. Business Permits and Licensing Office 10. " Te me NOTES ON ENTREPRENUERSHI ‘Buy special books of account at bookstore ‘Apply fr Certicate of Registration (COR) and TIN at he Bureau of Interal Revenue (BR) ‘Agency: Bureau of femal Revenue Pay the regstatonfee and doamentay stamp taxes (OST) tthe ae Agency: Bureau of intemal Revenue ‘Obtain the authonty to print receipts and invoices rom the BIR. ‘Agency. Bureau of Itemal Revenue Print cepts and invoices at pont shop ‘Agency: Bureau of intemal Revere Have books of accounts and Punters Cetficate of Delivery (PCD) ‘stamped by the BIR ‘Agency Bureau of intemal Revenue Register wth the Socal Secunty Syste (SSS) ‘Agency: Social Securty System Reger withthe Philippine Heath Insurance Company (PhiHealth) ‘Agency: Phitppne Health insurance Corporation| Register wih Home Development Mutual Fund (Pag-big) Agency: Home Development Mutual Fund hip: twa wikihow comStat-You-Own-Business i ww congbusmess orcas reecoromes pnsopres Sarin abuses ELEMENTS OF A BUSINESS PLAN Executive Summary Fon Exc. USE OF wGGT 26 MTENSWELET COACINGTRAREES AL RTS RESERVED. [Runonato copa RE-OOUCTION AND DSTREUTON'S MILECTUA HEFT ANO MSHA BY THE PRLPPNE Crm LA + Your mission and goals, +The produc, + The markt and is potential + The marketing pan, “The management team, + Key elements of your operations, + Funding requrements, and proft and cash forecasts, + Return fo the investor Business Description (why the business exists) ‘A Mission Statement Communicates the purpose and pancples of what youre dang ‘and wy youre doing it 1. What are the opportunites or needs that you ent to address? (the purpose ofthe venture) 2 What are you doing to address these needs? the busness of the venture) 3. What pancples or beliefs guide your work? he values ofthe venture) 8. Business Overview 1. Curent state fhe verte 2. Legal srucuze: sole proprietorship, Parership, ompaaton ‘3. Type: manufacturer, retailer, wholesaler, sernce 4. History new, expansion, acqustion| . Products and Services | aI. Market Analysis ‘A Market Characteristics 1. Industry prof and market pace: sie, locaton, history, competiveness, proftabilty ‘Supper power (suppers bargaining power and leverage), Sapte power supple began pow 298) + New competitors (Ihe treat of entry of new rvs), + Substitute products (ease wih which buyers can switch aitematve products andor attempts of outsiders to win buyers overt ther ateraive products) + Buyer power buyers’ bargaining power and leverage) + Industy ral intent of rvs jockeying fora beter matte positon and a compelive advaniage), and + Goverment regulations (goverment infivence trough regulators and pot) 2 3. B. Target Customer Profle 1. Consumers + Are your customers local, regional, national, and/or Intemational? + Are your customers young, od, male, female, high income, low income, ete? + Ae there behavioral characteristis that diferentate your customers? (for stance rice shoppers versus convenience shoppers) + Are there cultural considerations, social connections, or ther personal factors thal might shape your customers reeds, wants, and buying behaviors? 2 Businesses + Do business customers’ needs difer by industy? + Do business custome in diferent regions have diffrent needs? + Who in the business is involved in the purchasing decision? What is ther job function? Who influences their decisions? + Whats ther background and knowledge with respect your produciservice? + What are company buying potcies and procedures, financial constraints, and ting of purehases? Competitor Assessment + Market share, + Relationship wit customers, + Advertsing plan, + Price, + Distibuton + Productservce features, + Financial stength/cost poston, and + Length of time in business IV. Marketing Plan ‘A. Products and services: + Features, benefts + Needs and problems addressed + Size, shape, color, design, quali, materials Capabilities, technological ife-span, Patent protections Packaging, product support, warranties, retums, raining, and service ne NOTES ON ENTREPRENUERSHIP B, Pricing + Cost + Compettor pricing + Pre reat to market pnce ©. Distribution + Channels of delivery + Logistes management D. Promotion + Advertising + Public relations opersng Pan Promethp ndorapere. rn, suores and espsbies «See eon and gonatna at a Resouces aa Pocten oon Mabe es eb ¢ Fates anos 0 opis = jetsam proces E tegines es elec Popery Peten Ginn Financial Plan Profit potential A. Forecasted income BB Forecasted cash flow Forecasted balance sheet D. Breakeven and risk analysis Purdue University Elements of a Business Pian https ww extension pudue edulextmedialedec-735 pat ‘9M's of Management 1 2 3 4 5 6 7 8 8 on €xCLUSE USE OF hogy 2018 MTENSVE LET COACHING TRANEES. ALL RIOTS RESERVED. (TORE ae nconacocten in OSTREUTON'S NTELLECTUA. TEST AND PONSIAGLE BY THE PHLBPNE COPTAGAT AM, ‘Manimangower ~ most important (managers and employees ‘Money ~ diving force of business, capital, cash ow Materials inputs to production ‘Machines — ads to work sioliicaton, technology for automaton Methods Markets - goods and services exchanged for money, transaction in motion Minutes time management 'Motwationnorale ~ secret weapon of management to get the job done ‘Measurement ~ gauge of eftectveness. intemal contre of the company 92