Podcast
Questions and Answers
What is the principle of enterprise development?
What is the principle of enterprise development?
Investing knowledge, time, attracting investment, and building business linkages.
Which of the following are considered Micro, Small, and Medium Enterprises (MSMEs) based on asset size? (Select all that apply)
Which of the following are considered Micro, Small, and Medium Enterprises (MSMEs) based on asset size? (Select all that apply)
An entrepreneur is someone who takes initiative and bears risks in order to manage resources innovatively.
An entrepreneur is someone who takes initiative and bears risks in order to manage resources innovatively.
True
Entrepreneurial action is a behavior in response to a judgmental decision under uncertainty about a possible opportunity for ______.
Entrepreneurial action is a behavior in response to a judgmental decision under uncertainty about a possible opportunity for ______.
Signup and view all the answers
What is involved in the entrepreneurial process?
What is involved in the entrepreneurial process?
Signup and view all the answers
What can influence opportunity assessment in entrepreneurship?
What can influence opportunity assessment in entrepreneurship?
Signup and view all the answers
Which of the following factors are part of opportunity assessment? (Select all that apply)
Which of the following factors are part of opportunity assessment? (Select all that apply)
Signup and view all the answers
Study Notes
Enterprise Development
- Involves investing knowledge and time to enhance business competitiveness in the global market.
- Aims to improve company image and increase capital by adding value for customers.
- Designed to stimulate economic activity and promote positive societal change.
MSMEs in the Philippines
- Definitions based on asset size under the Magna Carta for Small Medium Enterprises:
- Micro: Up to Php 3,000,000
- Small: Php 3,000,001 to Php 15,000,000
- Medium: Php 15,000,001 to Php 100,000,000
Entrepreneurship and Entrepreneurial Mindset
- An entrepreneur bundles resources innovatively, assumes risks, and seeks profit opportunities.
- Requires commitment of time and effort, along with a willingness to accept uncertainty.
- Key traits include creativity, initiative, and the ability to assess market risks.
Aspects of the Entrepreneurial Process
- Begin with identifying and evaluating business opportunities through:
- Opportunity assessment considering real and perceived value.
- Analyzing personal skills against potential risks and returns.
- Understanding competitive environments.
Opportunity Assessment Factors
- Changes in the external environment including:
- Physical (climate, resources), societal (political, economic), and industry (competitors, suppliers).
- Technological discoveries that enhance quality of life and create new business prospects.
- Government initiatives and policies acting as opportunities or challenges for entrepreneurs.
- Evolving societal interests and preferences influencing market trends.
- Leveraging past experiences and skills as a foundation for new business ventures.
Developing a Business Plan
- Requires clear identification of business opportunities and strategic evaluation.
- Incorporates assessments from market analysis, risk evaluation, and financial planning.
- Focus on sustainability and long-term growth within the enterprise development framework.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz explores the concepts of enterprise development, focusing on the various definitions and classifications of MSMEs in the Philippines. It covers the entrepreneurial mindset, the traits of successful entrepreneurs, and the crucial aspects of the entrepreneurial process. Test your knowledge on how these elements contribute to business competitiveness and economic growth.
