entrepreneurship

• ENTREPRENEUR- An individual who takes part in called business venture
• ENTREPRENEURSHIP - Is the concept of developing and managing and enterprise in the hope of gaining a profit accompanied by certain risk.
• BUSINESS PLAN - It is a written document describing in detail how a business defines its objectives and the courses it is willing to undertake to achieve its goals.
• Creative - Successful entrepreneurs have a sense of curiosity that allows them to continuously seek new ideas and opportunities that often become a feasible business venture.
• Willingness to undergo further market study - In every opportunity that arises, an entrepreneur must run tests to determine if the venture is worthwhile to pursue
• Adaptable - The nature of business is ever-changing. There for, entrepreneurs are expected to be responsive to change.
• Decisive - Entrepreneurs should be confident in making decisions and can take responsibility when outcomes turn out to be unfavorable
• Collaborative - A great entrepreneur does not let their shortcomings hold them.
• Risk-taker - Entrepreneurs already have an idea of the risks associated with entrepreneurship
• Persistent - Entrepreneurs look for motivation and tend to see failures as opportunities to learn and grow
• Innovative - Almost everything is already on the market. An entrepreneur can improve or develop existing products or services to meet the changing needs of the market
• Inbound logistics - Receiving, storing, and distributing input internally
• Operations - Transformation activities that change inputs into outputs that are sold to customers.
• Outbound logistics - Delivering your product or service to your customer.
• Marketing and sales - Processes used to persuade clients to purchase from you instead of your competitors.
• Service - Activities related to maintaining the value of your product or service
• Procurement (purchasing) -Getting resources it needs to operate.
• Human resource management - Recruitment, hiring, training, motivating, rewarding, and retaining workers.
• Technological development - Managing and processing information, as well as protecting a company's knowledge base.
• Infrastructure Company's support systems and the functions that allow it to maintain daily operations.
• Entrepreneur - A person who creates an enterprise and takes a financial risk to get a profit
• Manager - An individual who takes the responsibility of controlling and administering the organization
• Micro - Less than P50,000
• Cottage - P50,001 to P500,000
• Small - P500,001 to P5,000,000
• Medium - P5,000,001 to 20,000,000