Entrepreneurship
What is the process of starting and running one's own business.
Entrepreneurship
The second stage/step in the entrepreneurship process.
What is Planning
Primary and secondary data
What are the sources of information when conducting research
Financial Independence, Self fulfillment, FulfillWhat passion, self actualization
What are reasons for starting a business?
What is the component of a business plan that has a brief one-to two-page description of the key points of each section of the business plan
What is an Executive Summary?
What is generating ideas, recognizing opportunity, and studying the market.
Conceptualizing
Total number of stages/steps in the entrepreneurship process (establishing a business)
What is six (6)
Providing goods and services, creation of jobs and nation building
What are entrepreneur's role in economic development?
The component of the business plan that includes financial statements that will help forecast the future financial health of the business?Financial Plan
What is Financial Plan
Entrepreneur
What is an individual who undertakes the risk associated with creating, organizing and owning a business.
When the entrepreneur recognizes an opportunity, and study the market to how possible or profitable the idea would be.
What is a Feasibility Study?
Planning
What is the stage when the entrepreneur decides on business' future growth, development or demise.
The fourth stage/step in the process of establishing a business.
What is a business plan.
Organizational Plan
What is component of the business plan that has the management philosophy, key management personnel and employment policy?
The component of a business plan that analyzes the customers, competition, industry and demographic data ?
What is the Industry/Market Analysis?
What is the stage when the entrepreneur develop the idea, identify strategies to create and produce.
Conceptualizing
What is the stage when the entrepreneur apply for loans, find ways to finance the business idea
Acquiring of funds
The entrepreneur has to identify his financial, human and material resources.
What is identification of resources?
Building partnerships with communities by contributing towards community projects, this will help members of the community to improve their well- being
What is collaborating?