having ideas, turning them into a business to earn money.
Entrepreneurship
coming up with ideas.
Ideation
thinking outside the box.
Crativity
improving or creating something new.
o Innovation
- Types of entrepreneurs: (3)
o Acquirers –
o Inventors –
o Buy and Sell Artists –
buy businesses
Acquirers
make new products
Inventors
sell what others make
Buy and Sell Artists
Protects consumers during calamities (automatic price control).
Price Act (RA 7581)
Allows foreign business if they meet requirements
Retail Trade Liberalization Act
Makes sure food and medicine are safe.
BFAD
support and guide small businesses.
DTI, DOH, DA
train and help small business owners.
DOH, DSWD, TESDA
mapa ng negosyo mo.
bUSINESS pLAN
business plan contains (5)
- Cover page
- Executive Summary
- Market Analysis
- Management Plan
- Financial Plan
how you promote and sell your product.
Marketing
- 4 P’s of marketing
- Product
- Price
- Place
- Promotion
turning raw materials into products
Production
5 stages of production
- Operation
- Assembly
- Finishing
- Inspection
- Storage
how you manage business money
Finance
ability to buy now, pay later.
Credit
- 5 C’s of Credit (for getting approved):
- Character
- Capacity
- Capital
- Collateral
- Conditions
