This pertains to strategies related to expansion of the business.

Is the process of identifying, sourcing financing human, non human and other resources needed for the conduct of business.

On this stage business idea is transformed into a business concept through crafting a business plan.

It is the carrying out of the business plan.

What are the 2 types of entrepreneur?

Driven by a mission to fill gaps left by the market (for profit companies) and public (government) sector

• - Prefer a more stable and less aggressive approach.

• - Would rather exploit existing opportunities.

• - Operate in existing markets to optimize supply-demand.

• Driven by a profit motive – constantly innovating for market share

• Competencies Affecting Entrepreneurial Journey, which of the following ay hindi na belong?!?

• Pertains to dangers coming from the management of resources of a business enterprise that may imperil its operations. Example is failure to hire the best talents, damage to reputation and failure to innovate.

• Are threats coming from various environments outside the business firm. Example is increased of competition, commodity price risks, business interruptions.

• - Environmental Support - a support coming from the government can highly incline interest to pursue entrepreneurship

• - Environmental Influence - refers to the protection of intellectual properties, protection of property rights

• Differentiating from those currently in the market (by changing its shape, size, color and contents)

• Business ideas can arise from the process of production and distribution

• - Sourced from the person

• - The individual examines his/her interest, hobbies, skills, dreams, and even their travels

• - Skills learned from prior employment can be source of business ideas

• Friends, families, and classmates can also be sources of business ideas and partners

Which of the following is not a tip for business pitching?

Which of the following does not belong to the 4P's of marketing/marketing mix?

Financial resources funding, sources of income and investment opportunities

Physical resources location, facilities and equipment

Human resources employees, volunteers and target

Access to natural resources, trademarks, patents and copyrights

Current processes employee programs, department hierarchies and software systems

Market trends new products, technology advancements and shifts in audience needs

Economic trends local, national and international financial trends

Funding donations, legislature and other sources

Demographics

Relationships with suppliers and partners

Political, environmental and economic regulations

• Description of the company’s operation (Input-Process-Output)

• Includes all machinery and equipment needed and suppliers of raw materials.

• Flow of orders for goods and services/ defines the procedures in completing a transaction shown in operations layout

• _________ Plan steps, comparisons of major competitors, _________ mix strategies (4Ps product, place, promotion, price)

• Form of ownership, Principal shareholders, or partners.

• Organizational chart/ lines of authority. Background of the management team, Roles and responsibilities of the team

• Assumptions, COGS, OPEX, markup and selling price, income statement, sources and uses of funds, Break-even Analysis

Major Sections of a Business Plan:

• Business name and logo,

• Names of business owners

Major Sections of a Business Plan:

• thoroughly summarizes the business

• short enough for the readers to understand and conceptualize the entire concept of the business

Major Sections of a Business Plan:

• Conditions of the general environment (socio-cultural, technological, economic, and politico-legal conditions, competition)

Major Sections of a Business Plan:

• Product and/ or services

• Mission, Vision statement, core values

• Location of the business

Conditions:

• Highlights the characteristics/ demographic information that will affect your business

Conditions:

• includes an assessment of the major developments in science and technology that might have beneficial or detrimental impact on the business

Conditions:

• includes description of the growth of national and local economies.

• Research on the country and the region’s Gross Domestic Product (GDP), price movements of your products key inputs (materials), inflation rate, employment rate

Conditions:

• includes existing laws and regulations, as well as future legislations that could directly affect your business.

Product Life Cycle:
• includes a substantial investment in advertising and a marketing campaign focused on making consumers aware of the product and its benefits

Product Life Cycle:
• characterized by growing demand, an increase in production, and expansion

Product Life Cycle:
• most profitable stage, while the costs of producing and marketing decline

Product Life Cycle:
• takes on increased competition as other companies emulate its success— enhancements or lower prices

• product may lose market share and begin its decline

Corporation terminologies:
share which entitles the holder to a fixed dividend, whose payment takes priority over that of common-stock dividends

Corporation terminologies:
holder of stock, which can be construed as inventory, rather than shares.

Corporation terminologies:
holder of a share, which can only mean an equity share in a business

Types Of Organizational Structures:
• most common type

• the chain of command from top down

Types Of Organizational Structures:
• starts with positions with the highest levels of responsibility at the top

• employees are organized according to their specific skills and their corresponding function

Types Of Organizational Structures:
• fits companies with few levels between upper management and staff-level employees

Types Of Organizational Structures:
• divisions have control over their own resources, essentially operating like their own company within the larger organization

Attracting and Retaining Talent/Nurturing and Engaging Talents:
refers to activities that influence individuals to apply for a job and accept jobs that are offered to them.

Attracting and Retaining Talent/Nurturing and Engaging Talents:
process by which an organization chooses from the pool of applicants the person that best fits the requirement of the job through job analysis known as competency profiling

Attracting and Retaining Talent/Nurturing and Engaging Talents:
helps employees do their current job better

Attracting and Retaining Talent/Nurturing and Engaging Talents:
prepares individuals for future positions or responsibilities within the business.

Kinds of Organizational Commitment:
• desire

• a person’s positive feelings toward the company and what its core values are

Kinds of Organizational Commitment:
• need

• primarily to the costs of leaving

Kinds of Organizational Commitment:
• obligation

• employees feeling of obligation to others who gave him his first job who might be negatively affected by his departure.

Symbols used in process chart:
Operation: Activity that modify, transform or give added value to the input

Symbols used in process chart:
Transportation: Movement of materials or goods from one place to another

Symbols used in process chart:
Inspection: Activity that measure the standard or quality

Symbols used in process chart:
Delay: Process is delayed because in process materials are waiting for next activity

Symbols used in process chart:
Storage: Finished products or goods are stored in the storage area or warehouse

Resource Inputs:
are semi processed goods that will be subjected to further transformation in the production process. They are also called raw _________. Ex. flour, sugar, butter, eggs, salt, and other ingredients.

Resource Inputs:
is the human resource input used in the production process. ________ does not only include labor or muscular power but also, intellectual, creative abilities and other qualities of individuals that can contribute to the production. Ex. baker and his assistants who will implement the recipe. The manager, sales clerk and janitors as ________ resources of the bakery.

Resource Inputs:
represents all man-made physical capital used in the production process. Aside from ________, the tools, durable equipment, and the physical plan are also included.

Resource Inputs:
denotes the process of combining raw materials and how these are going to be transformed using the other factor inputs of production. This resource in put is also called technology or techniques of production since is prescribes the intensity of the use of factor inputs.

Resource Inputs:
is a financial resource used to purchase all the resources needed by the business for its operations. Thus the owner(s) of the company contribute seed _____ for the initial operations of the business.

Process:
occurs when the processing of raw materials convert them into significantly new product.

Process:
arises when a product changes its location through various means of transportation and communication.

Process:
happens when knowledge and specialized skills of providers are transmitted to their customers.

Process:
takes place when a commodity is transmitted from the supplier to its buyer.

Process:
happens when a natural resource is taken out from its habitat.

Outputs:
clothes, canned food, bread, gasoline, electronic gadgets

Output:
air transport, sea transport, postal services, bus services, telecommunication services

Output:
tutorial services, auditing services, legal services

Output:
retail services of sari-sari stores, groceries, supermarkets, wholesale services

Output:
gold ores, copper ores, timber, logs, sand, seafood