Entrepreneurship 12 Midterm

Front

An act of creating a business or business while building and scaling it to generate a profit

Back

Entrepreneurship

Front

A person who sets up a business with the aim of making a profit

Back

Entrepreneur

Front

What is the 8 importance of entrepreneurship?

Back

1. 1. Generate wealth in the Economy

2. 2. Decreases poverty

3. 3. It creates oppurtunities, ensures social justice, instill confidence and stimulates the economy

4. 4. Improves productivity

5. 5. Create Jobs

6. 6. Entrepreneurs innovate

7. 7. Create innovation and social change

8. 8. Give to society

Front

Give the 8 relevance of entrepreneurship to SHS Students

Back

1. 1. To prepare students for livelihood even for college

2. 2. For them to think outside the box and nurture talents and skills

3. 3. Develops their initiative and for them to be more creative & self-confident

4. 4. Exposes students to numerous opportunities

5. 5. Being aware of all important factors

6. 6. They have to be exposed to real-world examples and learn from their own experiences

7. 7. Requires students to be innovative, creative and collaborative with others

8. 8. Develop their own ventures

Front

People who are not yet customers but may buy in the future, known as Total Addressable Market (TAM)

Back

Potential Market

Front

overall demand for a product

Back

Market Potential

Front

How to identify Potential Markets?

Back

1. 1. Their common traits

2. 2. overlaps and differences with current customers

Front

this encompasses all potential customers with the means and desire to purchase your product or service

Back

Available Market

Front

the specific group of potential customers your company aims to reach, often segmented by age, location, income and lifestyle

Back

Target Market

Front

consist of cutomers already using a company's product or service

Back

Penetrated Market