Podcast
Questions and Answers
What is the primary purpose of a project summary?
What is the primary purpose of a project summary?
- To list the team members involved in the project
- To provide detailed financial projections
- To outline the marketing strategy
- To present highlights, major assumptions, and conclusions (correct)
What is one key consideration when selecting a business name?
What is one key consideration when selecting a business name?
- It must have a historical reference.
- It should resonate with customer preferences. (correct)
- It should avoid any ties to the business's mission.
- It should be the longest name possible.
Which section is NOT included in a project summary?
Which section is NOT included in a project summary?
- Analysis of competitors (correct)
- Proposed name of the business
- Description of the industry
- Summary of findings and conclusion
Why is the selection of a business name critical?
Why is the selection of a business name critical?
What is NOT a factor to consider when selecting a location for a business?
What is NOT a factor to consider when selecting a location for a business?
Which government agency is primarily responsible for ensuring trade names are unique in the Philippines?
Which government agency is primarily responsible for ensuring trade names are unique in the Philippines?
What does a business name need to reflect?
What does a business name need to reflect?
What is the role of assumptions in a project summary?
What is the role of assumptions in a project summary?
Which entity must obtain approval from the Securities and Exchange Commission for trade names?
Which entity must obtain approval from the Securities and Exchange Commission for trade names?
What is one of the specific requirements for trade name approval in banking operations?
What is one of the specific requirements for trade name approval in banking operations?
In industry analysis, what should be clearly defined?
In industry analysis, what should be clearly defined?
Which of the following is a key area to consider in an industry analysis?
Which of the following is a key area to consider in an industry analysis?
What do customer needs and preferences inform according to market demand?
What do customer needs and preferences inform according to market demand?
What is included in the legal and regulatory framework of an industry analysis?
What is included in the legal and regulatory framework of an industry analysis?
Which step is often the final step in the trade name approval process for sole proprietorships and partnerships?
Which step is often the final step in the trade name approval process for sole proprietorships and partnerships?
What should entrepreneurs consider when choosing a business name?
What should entrepreneurs consider when choosing a business name?
What advantage does the stable climate provide for the proposed location?
What advantage does the stable climate provide for the proposed location?
What should the project feasibility study begin with?
What should the project feasibility study begin with?
Why are realistic and measurable assumptions important in feasibility studies?
Why are realistic and measurable assumptions important in feasibility studies?
Which of the following factors is NOT mentioned as a basis for assumptions in feasibility studies?
Which of the following factors is NOT mentioned as a basis for assumptions in feasibility studies?
Which element is essential in the project description?
Which element is essential in the project description?
What is a critical question for assessing market feasibility?
What is a critical question for assessing market feasibility?
What is one of the four critical questions related to project feasibility?
What is one of the four critical questions related to project feasibility?
Which pricing strategy involves starting with a low price to attract customers?
Which pricing strategy involves starting with a low price to attract customers?
What is a major component often provided in a project's summary?
What is a major component often provided in a project's summary?
What does a strategic location provide for a project?
What does a strategic location provide for a project?
Which aspect is highlighted as critical for a business venture's feasibility?
Which aspect is highlighted as critical for a business venture's feasibility?
What is the consequence of continuing a project without sufficient market demand?
What is the consequence of continuing a project without sufficient market demand?
What might cause doubt and loss of interest among investors?
What might cause doubt and loss of interest among investors?
What does a stable climate allow for in terms of project operations?
What does a stable climate allow for in terms of project operations?
What does competitive advantage enable a business to do?
What does competitive advantage enable a business to do?
What outcome should a project aim to produce for the company?
What outcome should a project aim to produce for the company?
What is the primary responsibility of the proponent in a feasibility study?
What is the primary responsibility of the proponent in a feasibility study?
What indicates a high probability of feasibility for a project?
What indicates a high probability of feasibility for a project?
What does the investor's binary decision making entail?
What does the investor's binary decision making entail?
What happens upon the investor's commitment of funds?
What happens upon the investor's commitment of funds?
Which of the following statements represents a negative feasibility indicator?
Which of the following statements represents a negative feasibility indicator?
What is the significance of the proponent's evaluation?
What is the significance of the proponent's evaluation?
Why might the investor's final decision differ from the proponent's recommendations?
Why might the investor's final decision differ from the proponent's recommendations?
What does the proponent evaluate to arrive at conclusions regarding organizational feasibility?
What does the proponent evaluate to arrive at conclusions regarding organizational feasibility?
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Study Notes
Project Summary
- A project summary is an overview of the study, summarizing major findings and conclusions.
Proposed Name of the Business
- Choosing a business name is essential for brand identity and customer perception.
- The name should reflect business identity, align with philosophical values and culture, be memorable, and appeal to the target audience.
Government Requirements for Trade Name Approval
- The Department of Trade and Industry (DTI) ensures trade names are unique and not registered.
- Sole proprietorships and partnerships only require DTI approval.
- Corporations need DTI and Securities and Exchange Commission (SEC) approval.
- Businesses involving banking operations need approval from the Bangko Sentral ng Pilipinas (BSP).
Description of the Industry
- Industry analysis examines productive enterprises that produce or supply goods, services, or income.
- Key areas of analysis include industry overview, competitive landscape, market demand, and industry regulations.
Description of the Project
- The project description details the project scope, tasks, timeline, and end result.
- Market feasibility assesses whether there is a need, want, and demand for the product or service.
Pricing Strategies
- Penetration Pricing: Initially low price for a high-quality product, later increasing the price.
- Price Skimming: Initially high price for a new, low-quality product, later reducing the price.
- Premium Pricing: High price for high-quality goods.
- Loss Leader: Low price used to attract customers, hoping they will purchase other products with higher profit margins.
Location of the Project
- Strategic location offers economic, political, or military advantages due to proximity to resources, transportation routes, etc.
- It should provide competitive advantage and ensure maximum efficiency.
- Climate, temperature, and weather conditions should be considered.
Highlights of Major Assumptions
- Assumptions are based on past experiences of similar businesses, current market trends, government programs, and regulations.
- Assumptions should be realistic and measurable to prevent doubt from investors.
- They help answer questions about project goals, scope, timeline, resources, and constraints.
Summary of Findings and Conclusions
- The summary of findings and conclusions encapsulates the study's results and recommendations.
- Key considerations include:
- Market feasibility
- Technical feasibility
- Organizational feasibility
- Financial feasibility
- The proponent provides conclusions and recommendations for each area.
- If all four feasibility questions are answered positively, the project is likely to be successful.
- A negative answer to any of the questions raises potential challenges for the project.
Proponent's Role
- The proponent is responsible for providing conclusions and recommendations for each area of the feasibility study.
- They do not guarantee the success of the project, but provide an evaluation based on the gathered evidence.
Investor's Decision
- The investor decides whether to implement the project (committing funds) or abandon it.
- If the investor decides to proceed, the proponent develops a detailed business plan.
Conclusion and Recommendations
- The proponent summarizes conclusions and recommendations, resulting in a general conclusion based on the study.
- The investor's final decision may differ from the proponent's recommendations.
- A clear and decisive conclusion is essential for the investor's decision-making process.
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