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ENTREPRENEURSHIP.ppt
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- 2. • Entrepreneur –gain profit and gives opportunities • CHARACTERISTICS OF AN ENTREPRENEUR: • Adaptive • Analytical • Committed • Creative • Innovative • Inquisitive • Leadership • Persistent • Self discipline
- 3. • Concepts ofFilipino Entrepreneur 1. Self-reliant 2. Risk-taker 3. Creative 4. Industrious 5. Humble 6. Helpful 7. Happy
- 4. • PRODUCTION –creation of goods and services RESOURCES IN PRODUCTION Financial Resources funds for various purposes that would benefit the business Human Resources The people who plan and implement business activities Informational Resources Reliable information is essential in making plans, decisions and implementation which are all contributory to the success of an enterprise Material Resources Tangible, physical resources which are used for production. FACTORS OF PRODUCTION Capital Physical resources such as machines and equipment which are used for starting a business Entrepreneurial Ability The ability to coordinate all the factors of production. Labor Physical and mental efforts exerted by workers. Land Refers to natural resources, such as forests, mountains, and bodies of water like rivers, lakes, and seas.
- 5. • Costs ofProduction – represents the payments for the factors of production FOUR PHASES OF PRODUCTION Operation Raw materials are turned into something useful Assembly Producers put all parts together to form the final product Finishing Producers do the final render to the product Inspection Producers make sure that the product is of high quality and correct quantity according to specified standards. PRODUCT LIFE CYCLE Introductory Stage A new product is released in the market Growth Stage The market has accepted the product and sales begin to increase Maturity Stage Sales will reach its peak Decline Stage Sales will begin to decline as the product reaches saturation point.
- 6. GLOBAL STANDARDS ISO The InternationalOrganization for Standardization is known to be the largest developer of standards in the world having a network of 155 countries which meet and establish world standard HACCP Hazard Analysis Critical Control Point is an internationally accepted technique for preventing microbiological, chemical, and physical contamination of food particular during the processing of food products. HALAL This refers to food that is permissible for consumption under the Islamic Law.
- 7. • Scheduling – processof ensuring the delivery of materials at the right place and at the right time • Quality Control – process of ensuring that goods and services are produced in accordance to the specifications and requirement • Productivity – efficient creation of goods and services
- 8. • MARKETING PROCESS –Asset of human activities directed at facilitating and consummating exchange – It is an integration of various functions – Selling is only a part of marketing Three Elements 1. Two or more persons who are potentially interested in exchange 2. Each person having things of value to offer to the others 3. Each of them is capable of communication and delivery
- 9. • Marketing Plan– an outline of actions designed to achieve a specific set of goals –The external environment consists of namely: • Political forces • Economic forces • Societal forces and • Technological forces
- 10. • Marketing Strategies– tools of achieving the goals of the enterprise 1. Product strategy starts from introduction to growth and maturity and finally to decline. 2. Promotion strategy consists of advertising and personal selling 3. Pricing strategy help in the conversion of product and services into money in business, the apparent objective of pricing is to maximize profit. (monopoly or oligopoly) • Penetration pricing strategy – very low price for a new product is offered 4. Place strategy is delivery of goods to the customers
- 11. • Marketing Functions– process of buying and selling 1. Exchange – buying, selling, pricing 2. Physical – assembling, handling, processing and packaging, storage 3. Facilitating – financing, market information, demand and supply, market research
- 12. • Forms ofSelling 1.Retailing is selling in small quantities. –Classification of Retailing a) General store, permanent institution in the economic life of the country. It carried a wide variety of items b) Single line store specialize in one single item. c) Convenient store includes coffee shop, bakery shops candy stores magazine and newspaper stands located in business districts d) Specialty shop specializes in certain items which the busy department store cannot offer e) Itinerant store or rolling store f) Large scale retailing like variety store, mail order house, supermarket department store
- 13. • Business plan– blueprint guide, detailed roadmap • Research study – an systematic assessment • Feasibility study – well documented
- 14. • Outline ofFeasibility Study 1. Evaluate your personal resources and interest, and the resources of the community 2. Analyze the market 3. Business location 4. Financial Plan 5. Production plan 6. Organizational Plan 7. Management plan
- 15. • CLASSIFICATION OFBUSINESS ORGANIZATION Sole Proprietorship Is owned and operated by one individual. The owner is called the proprietor. Partnership A legal arrangement of two or more owners who call themselves “partners” .They have shared responsibility when it comes to contributing funds, property for the enterprise. Likewise, they divide profit among themselves. Articles of Co-Partnership – a formal business agreement that partners create and sign. Corporation The corporation is bounded by the law as a single entity. It is an organization composed of more than five individuals who own shares. Share – A portion of money or property that signifies ownership of the company. Dividend – A portion of earning made the company given to its shareholder Cooperative An enterprise that is owned and operated by group of individuals for their own benefits.
- 16. • TWO TYPESOF MANAGING 1. Managing Business a. Keeping clear records b. Verifying profit and loss c. Managing cash flow 2. Managing Enterprise •Distribution channel a. Cooperatives b. Independent, locally based private enterprise c. Marketing boards and other state enterprises d. Transnational companies
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- 18. • first andforemost for entrepreneurs – Being a good follower first • base the type of business, Availability of resources and time for business • distributed among the stock holders, Dividend • step-by-step procedure – Project proposal • how the business will be managed – Market study
- 19. • key ingredientto entrepreneurship is placed on – Innovation • can identify a good business through, The availability of supply, interest, capacity and skills • Attracting buyers depends on, Consumers likes and dislikes • Risk taker – Acceptance of challenges and changes • working together – Coordinating • Entrepreneurship refers to any lawful activity
- 20. • first stepto put up her own business, Application of mayor’s permit to operate • records the financial operations – Bookkeeping • true about debit and credit, Debit increase asset and decrease liabilities • Entrepreneur, A person who is able to look at the environment and identify opportunities • Objective – aim of business organizations
- 21. • Magna Cartafor Small Enterprises – RA 6977 • agreement in a corporation – article of incorporation • agreement in a partnership – Articles of Co-Partnership • Machinery and/or equipment, Capital assets • buying and selling of goods and services through internet, Electronic commerce
- 22. • factor shouldbe considered a priority in finding a location, labor supply • Marketing – point of production to the point of consumption • Profit is an indicator – Business • ability to create new things, invest in new enterprises and expand business – Entrepreneurship • factors must he possess that will not rely on services of employees – Knowledge / Skills
- 23. • match theneeds of the society, must be based on felt needs • SWOT analyze business opportunities • Communicates with people through interviews, observations and advertisement – Marketing study • communicate the product to customers, Promotion • most important in choosing the best location, access to supplies and raw materials
- 24. • market refersto people, institutions or organizations for whom the business is designed • how to increase profits – not included in planning a business • benefit of business planning, eliminate business risk • planning – thinking ahead of objectives • environment includes technological, social and ethical/political factors – Macro environment
- 25. • purchased aright to operate an already established business – Franchise • Entrepreneur – principal actor of the production • tangible used in the production – Material resources • start-up – establishing a business from scratch • market describes the buyers and users of the product and the area of dispersion – market study
- 26. • superior delegatesauthority to a subordinate – line type • disadvantage of a functional type of organization, Morale is likely to be low when discipline is weak • Private label brand – type of product, as designed, produced and marketed by the seller • NOT needed by an entrepreneur – Working skills
- 27. • Entrepreneur, seeksto create value for local communities, people or customer by starting new ventures which exploit new products, processes or markets • INAPPROPRIATE in starting a business, Cope with failures of the business • NOT a source of fund, Seek assistance from Central Bank of the Philippines • INAPPROPRIATE – Relaxed
- 28. • UNDESIRABLE –Impassive • primary cause of failure in small business – Poor location • turning daydream into reality – Enthusiasm • Enthusiasm – gives the energy to pursue his endeavors • able to withstand the troubles – Perseverance • physical meeting point – Exchange functions
- 29. • actual flowof commodities through space and time – Physical functions • marketing objective is NOT true, Maintain instability of supply and demand for marketed goods • Place – vehicle for informing target market • price cutting or relaunching the product – Maturity • NOT appropriate in running a small-scale business – Distribution channel
- 30. • Shareholders, Independent,locally based private enterprise • defeat and exit the market – Decline • tangible and intangible aspects – Product • SWOT analysis – assess entrepreneurial projects • PEST analysis – opportunities and threats • SWOT, Strengths-Weaknesses- Opportunities-Threats
- 31. • final stagein the marketing planning – Control • target market, is attractive to the business and matches its supply capabilities • well documented – Feasibility study • Blueprint – Business plan • successful entrepreneurial activity – Careful planning
- 32. • Coffee andCake apply – Marketing concept • Assess entrepreneurial projects – Competitor analysis • Do things faster – efficiency • Blending of variables – Variable research • Help community and government – Salary and Taxes • Person who is enterprising, has high level of technical knowledge
- 33. • Monthly loadpayment – Principal + Interest • Where are we now? – first stage in the marketing planning • Irritated – NOT a characteristic of an entrepreneur