ENTREP MIND- REVIEWER PDF

IDENTIFICATION 1. Emphatic listening is getting inside another person’s frame of reference. You look through it, see the world the way they see it, understand their paradigm, and understand how they feel. 2. Synergy means that the relationship of departments within an organization is catalytic,...

IDENTIFICATION 1. Emphatic listening is getting inside another person’s frame of reference. You look through it, see the world the way they see it, understand their paradigm, and understand how they feel. 2. Synergy means that the relationship of departments within an organization is catalytic, empowering, unifying, and exciting 3. Win-win is a frame of mind and heart that constantly seeks mutual benefit in all human interactions. 4. Indira Parikh, president of the Foundation for Liberal and Management Education (FLAME), argues that the ancient wisdom of Hindu scriptures can be appropriated to business practices. 5. Jeff Van Duzer, dean of the School of Business and Economics at Seattle Pacific University, shares some commonalities with Naert in his criticism of the shareholder model. 6. Philippe Naert, dean of the Antwerp Management School in Belgium, believes that value creation is the purpose of business. 7. Bhagavad Gita. It asserts that people should focus on their thoughts and actions rather than the outcomes of those actions. 8. Dharma. Dr. Athreya, a renowned management guru, has highlighted some of the core concepts of Dharma (natural law) as enshrined in the Indian Shastras (timeless principles). 9. Business model is embedded in a firm’s business plan, income statements, and cash flow projections. 10. Income statement summarizes the revenues earned and expenses incurred by a business over an accounting period. 11. What is the other term for income statement? Profit-and-loss (P&L) statement. 12. Cash flow statement focuses on liquidity (or balancing the cash inflows and outflows to enable firms to operate and pay their bills when they are due). 13. Return on investments (ROI) generally means the return on the owner's equity; hence, it is sometimes referred to as return on equity (ROE). 14. Return on Assets (ROA). This profitability measure shows how effectively the company has utilized its assets. 15. Current ratio relates current assets to current liabilities and shows a firm's immediate solvency and liquidity. 16. Solvency is the ability of a firm to meet long-term obligations. 17. Liquidity refers to an enterprise's ability to pay short-term bills and debts. 18. Quick ratio indicates a company's short-term liquidity and measures its ability to meet its short- term obligations with its most liquid assets. 19. Debt-equity ratio measures the percentage of the company's balance sheet financed by suppliers, lenders, creditors, and obligors versus what the shareholders have committed. 20. Interest coverage ratio indicates a company's ability to meet its interest payment obligations. It is computed by dividing the operating income by the interest expense. 21. Strategy canvas graphically depicts a company’s and its competitor’s value proposition, suggests opportunities to escape/eliminate competition, captures the current and future state of activity within a market space, and documents current and future competitive investments. 22. Eliminate-Reduce-Raise-Create (ERRC) Grid developed by W. Chan Kim and Renee Mauborgne is  a simple matrix-like tool that drives companies to focus simultaneously on eliminating, reducing, raising, and creating while unlocking a new Blue Ocean. 23. Blue Ocean strategy creates a new market space and stimulates new demand. 24. Red Ocean strategy is about competing in an existing market space to capture demand. 25. Balance sheet shows the financial position of a business on a certain date (usually the end of the month or year). 26. What is the other term for balance sheet? It is also called the statement of financial position (or SFP). 27. Business funds. The statement of financial position shows the capital contribution of owners and outside lenders. It also presents the acquired assets of the business. Identify what considerations has been defined: 28. A more collaborative ecosystem. Some innovations are successful because a new technology improves the relationship with supply chain partners and helps allocate business risks more appropriately, making cost reductions possible. For example, Proctor & Gamble uses the “connect and develop” model through external networks (suppliers, competitors, scientists, entrepreneurs, etc.) to crowdsource new ideas. 29. Usage-based pricing. Some models charge customers when they use the product or service rather than requiring them to buy something outright. The customers benefit because they incur costs only as offerings generate value; the company benefits because the number of customers is likely to grow. For instance, customers are billed for credit cards at the end of each month only if they use the service. 30. Asset sharing Some innovations succeed because they enable the sharing of costly assets. For example, Airbnb allows homeowners to share them with travelers, and Uber shares assets with car owners. Sometimes, assets may be shared across a supply chain. ENUMERATION: 31-34 Four (4) areas of life Physical Social/emotional, Mental Spiritual 35-38 The main principles of Dharma (4) with its English meaning. (2 points) Loka Sangraha (Public Good) Kausalam (Efficacy) Vividhta (Innovation) Jigyasa (Learning) 39-42 Give at least (4) financial ratios Return on Investments (ROI)  Profit Margin/Return on Sales (ROS) Return on Assets (ROA) Current Ratio Quick Ratio (Acid-Test Ratio) Debt Ratio Stockholder's Ratio Debt-Equity Ratio Interest Coverage Ratio 43-44 Give at least (2) primary functions of a balance sheet Business funds Business value Business assets and claims Business performance 45-47 Give (3) Entrepreneurial Habits Curious being Turn obstacles into assets Having a high tolerance for ambiguity Using fears and anxieties as fuel Focus on the causes, not effects, of confidence and success Be proactive Begin with the end in mind Put first things first Think win-win Seek first to understand, then to be understood Synergize Sharpen the saw 48-50 Give the (3) Purposes of Business (Developing Business Acumen) Naert’s Model Parikh’s Model Duzer’s Model