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Grade 12- Second Quarter > Nature And Type Of Entrepreneurial Venture > Flashcards

Nature And Type Of Entrepreneurial Venture Flashcards

1
Q

Forms of Entrepreneurial Venture

A

1) Sole proprietorship
2) Partnership
3) Corporation

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2
Q

Forms of entrepreneurial venture refers to the category of business according to?

A

Number of owners

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3
Q

A business venture owned by one person

A

Sole proprietorship

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4
Q

Advantages of Sole proprietorship

A

1) Easy to form and manage
2) Simple business operation

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5
Q

Disadvantage of Sole proprietorship

A

1) Growth is limited
2) The capital is shouldered only by the owner
3) The owner has unlimited liability

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6
Q

Business venture that is owned by two or more persons.

A

Partnership

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7
Q

Advantages of partnership

A

1) shared liabilty
2) shared capital
3) Fewer legal obligations

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8
Q

Disdvantages of partnership

A

1) Profit sharing
2) Disagreements
3) Personal insolvency of the partners

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9
Q

This is an entrepreneurial venture formed by atleast five but no more than fifteen persons.

A

Corporation

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10
Q

A corporation is considered ——— when it is authorized to issue shares to stockholders

A

Stock corporation

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11
Q

The owners of stocks are called

A

Stockholders

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12
Q

Type of corporation that does not issue stocks to members.

A

Non-stock corporation

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13
Q

Evidence of ownership of corporation

A

Certificate of stocks

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14
Q

A business organized under tha law of the Philippines

A

Domestic corporation

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15
Q

Nature of entrepreneurship
MSMAHS

A

Merchandising
Service
Manufacturing
Agriculture
Hybrid business
Special Corporation

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16
Q

Nature of business that is engaged in the buying and selling of products or goods

A

Merchandising

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17
Q

Examples of these are grocery stores, hardware stores and dry goods.

A

Merchandising

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18
Q

Type of business provides service to the customers

A

Service

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19
Q

Nature of business that is a producer of goods or products.

A

Manufacturing

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20
Q

Manufacturing requires?

A

Four Ms
Manpower
Method
Machine
Materials

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21
Q

Example of this nature of business are furniture shops, bakeshops, rattan factories, etc.

A

Manufacturing

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22
Q

This nature of entrepreneurship is the production of agricultural hoods and animals. Selling raw materials.

A

Agriculture

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23
Q

This nature of entrepreneurial venture
Possesses the characteristics and nature combined types of business entities

A

Hybrid business

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24
Q

May include cooperatives, joint ventures and non profit organizations

A

Special corporation

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25
Q

Production system

A

INPUT
PROCESS
OUTPUT

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26
Q

Input needs?
MMMDI

A

Manpower
Materials
Machine
Design
Instructions

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27
Q

Production process

A

1) Acquisition of raw materials/ Manufacturing supplies

2) Inspection of materials

3) Storing of acquired materials

4) Issuance of materials and supplies to the production line

5) Inspection of goods

6) rework or repair defective goods

7) transfer to storage room

28
Q

The process in which products are distributed

A

Output

29
Q

For materials FIFO

A

First in first out

30
Q

For employees LIFO

A

Last in first out

31
Q

Simply refers to the workforce involved in the manufacturing of products.

A

Manpower

32
Q

Educational attainment
Status of employment
Number of workers
Skill and expertise

A

Manpower

33
Q

Refers to the process or technique of converting raw materials to finished products

A

Method

34
Q

Product produce
Mode of production
Manufacturing equipment used

A

Method

35
Q

Manufacturing equipment used in the production

A

Machine

36
Q

Types of products to be produced
Production system to be adopted
Cost of equipment
Efficiency of equipment

A

Machine

37
Q

Refers to the raw materials needed in the production

A

Materials

38
Q

Entrepreneur may consider the following important factoes in the selection of raw materials

A

Cost
Quality
Availability
Credibility of suppliers

39
Q

You must design a particular markeing program or strategy that wll deliver the value of your product to the target consumers. this is called?

A

marketing mix

40
Q

marketing mix is also known as the 7ps

A
41
Q

7 Ps of marketing mix

A

Product
Price
Place
Promotion
People
Packaging
Positioning

42
Q

this is the tangible good or intangible service offered by the business to the target customers.

A

Product

43
Q

the entrepreneurs themselves have to create the need or want. what p of marketing mix?

A

Product

44
Q

the two basic entrepreneurial tenets relative to the product

A

the product is only produced once there is an existing need or want
the product must satisfy the need or want better than the competing product.

45
Q

variables that highly influence the setting of prices in marketing mix.
name three.
ACTPSD

A

Availability of the competing products
Cost of making the product
Type of product
Presence of substitute product
Stages of the product in the market
Demographic profile of the target consumers

46
Q

this marketing mix is the location of target consumers are.

A

Place

47
Q

what is a strategic place?

A

the site in which where the target market are most prominent.

48
Q

this refers to the mode of conveying the presence and attributes of the product to the target consumers. what marketing mix?

A

promotion

49
Q

this marketing mix share to the consumers the benefit, price and position of the product. It creates awareness that will elicit their desire to buy.

A

Promotion

50
Q

this refers to individual employees or workers who are directly involved in the production, marketing, and sale of the product or service?

A

People

51
Q

this term simply means tht the educational background and expertise of the person who occupy the position match the requirement.

A

right

52
Q

this refers to the process of putting the product in a container. it includes the kind of materil used for the wrapper or container and the label and product information printed in the container. what marketing mix iss mentioned?

A

packaging

53
Q

the packaging must be?

A
  • user friendly (easy. to open, attractive, readable and complete with necessary info)
54
Q

Major parts of a business plan
IEEBOPOMFA

A

INTRODUCTION
EXECUTIVE SUMMAR
ENVIRONMENT ANALYSIS
BUSINESS DESCRIPTION
ORGANIZATION PLAN
PRODUCTION PLAN
OPERATION PLAN
MARKETING. PLAN
FINANCIAL PLAN
APPENDIX

55
Q

THIS PRESENTS THE GENERAL PERSPECTIVE OF THE BUSINESS, IT MAY CONSIST TWO PAGES. WHAT PART OF BUSINESS PLAN?

A

INTRODUCTION

56
Q

THIS PRESENTS THE GENERAL PERSPECTIVE OF THE BUSINESS, IT MAY CONSIST TWO PAGES. WHAT PART OF BUSINESS PLAN?

A

INTRODUCTION

57
Q

I

A
58
Q

PARTS OF INTRODUCTION IN BUSINESS PLAN PANDLF

A

PROPOSED NAME OF BUSINESS
ADDRESS OF THE BUSINESS
NAME OF THE OWNER/S
DESCRIPTION OF THE BUSINESS
LOCATION
FUNDING REQUIREMENT

59
Q

THE PROPOSED BUSINESS NAME MUST HAVE?
RPPA

A

reflect the business identity and image
promote the philosophy values and culture that is valued the most
profess the brand identity
attract or influence the consumers

60
Q

its important that the address of the business is correctly written because al business correspondence are mailed o the business address.
true or false

A

trew

61
Q

in the name of the owner, for partnership, the names should be accompanied by what?

A

extent of liabilities

62
Q

these are the persons who originally formed the corporation

A

incorporators

63
Q

what is written in the description of business?

A

Brief summary of the service or product, values and mission and objectives

64
Q

the Location of the business should include?
PDPPT

A

Proximity to target customers
distance from the source of raw materials, labor and utilities
availability and cost of transportation
peace and order situation
presence of direct competitors
the geographical aanc climatic conditions

65
Q

FUNDING REQUIREMENT AND COST

A

allocation of total cost

Grade 12- Second Quarter (8 decks)

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