ENTREP BULLSHIT

Apple

Microsoft

Facebook

3 digital technology product companies you and almost everybody patronize

Bill gates

is the world’s richest person

founder of microsoft

net worth of $77 billion

top on the entrepreneur list for 15 years

Fav subj: math, science, drama, & english

millionaire - 23

billionaire - 31

bill gates became a millionaire at age ___ and billionaire at age ____

millionaire - 23

billionaire - 31

bill gates became a millionaire at age ___ and billionaire at age ____

Steve jobs

co founder of apple inc and pixar

21 years old when they formed apple computer 1

in 1990s, iMac, MacBook, iPod, iPhones, iTunes

Mark Zuckerberg

youngest billionaire at age of 29

one of the top 5 social media entrep

next worth of $27 billion in 2013

fav subject: classics & science

Socorro C. Ramos

national bookstore

More than 200 NBS branch nationwide

Jose Ramos

nung kinasal si socorro ramos kay _____, binuo nila ang NBS

Tony tan caktiong

president and ceo of jollibee

formerly selling magnolia ice cream, naging famous dahil sa chicken and burger

John gokongwei Jr.

founder of a conglomerate

JG summit holdings

peanuts

soaps

candles

threads

ano binenta ni john gokongwei initially

Henry Sy Sr.

used to sell american shoes

after 3 yrs, Shoe Mart Store

SM group of companies

Mariano Que

Mercury drugstore

first worked in a drugstore

invested ₱100 in sulfathiazole shoes

Business ownership and organization

refer to the structure and legal framework through which a business is owned, manage and operated

Sole proprietorship

A form of business organization, initiated, or owned or capitalized and managed by a single person

Service business (electrician, hair salon, tutor)

Retail business (grocery, hardware, cafe)

examples of sole proprietorship

Partnership

is an association of two or more business partners who co-own a business for the purpose of making a profit

General partnet

One who shares ownership and management of the business, liable to the extent of his separate property after all the assets of the partnership are exhausted

partners with limited financial liability, and they do not take active role in the management of the firm

Limited partners

Silent partners

They refer to partners who do not take active participation in the operation of the business, but they are generally known to be partners of the business

Dominant partners

They are neither active in the partnership nor they are generally known to be associated with the business

Capitalist partner

The type of partner who contributes money or property to the common fund of the partnership

Managing partner

The partner who is designated to manage the operations of the business of the partnership

Industrial partner

the partner who contributes his knowledge or personal services to the partnership

Secret partner

a partner who takes active part in the business, but is not known to be a partner by outside parties

Corporation

This created by individuals, stockholders, or shareholders with the purpose of operating for profit

BDO Unibank,

San Miguel corporation

PLDT

globe telecom

Ayala corporation

Examples of corporation

Cooperative

Is defined by republic act 6938 otherwise known as cooperative code of the Philippines

defined a cooperative as a duly registered association of persons with a common interest

Local government code

Empowers the local government units to take full administrative control of their respective jurisdiction and make legislation and ordinances

Sole proprietorship

Partnership

Corporation

Three forms of business ownership and organization

Capital

Refers to the resources a company uses to generate profit and operate effectively

Fixed capital

refers to the money needed to purchase fixed assets or capital goods

Working capital

It needed to fund the day-to-day operations of the business

Growth capital

is not related to daily or seasonal requirements for funds of the business. It is needed when an existing business is set to expand diversity or change its directions.

Personal savings.

It’s the money left over after spending and paying expenses representing a surplus of funds.

Personal property

Encompasses all assets that are movable and not permanently attached to land.

It includes tangible items like furniture, vehicles, clothing, as well as intangible assets like bank accounts, intellectual property brand reputation

Family and friends.

Second source of funds for many new ventures.

Bank loans

Is a sum of money borrowed from a bank or financial institution.

Mortgage

An agreement between you and the lender that gives the lender the right to take your property if you don’t repeat the money you’ve borrowed plus interest.

Credit card

A type of loan where you access a portion of your credit card limit as loan and pay it in installments

Tangible assets

Physical items of value owned by a business physical form can be seen, touched, and felt.

Land and buildings

Property where a business operates or stores goods

Equipment and machinery

Tools and machinery used in production or other business processes

Inventory

Raw materials, finished goods and work in progress held by the business

Vehicles

Cars, trucks and other transportation used by the business

Cash

currency held by the business

Furniture and office supplies

Items needed for the business to operate its office

Intangible assets

Are non-physical resources that a business owns

Patent

Is a legal document, granting an inventor, exclusive rights to an invention for a specified period

Trademarks

A symbol, design, word, phrase or combination of these used to identify a product or service and distinguish it from those of others.

Copyright

is a legal right granted to the creator of original works of authorship giving them exclusive control over how those works are used and distributed.

Brand recognition

is the ability of consumers to identify a brand true, it’s distinctive elements like logos, colors, slogans, and jingles.

Customer loyalty

Refers to a customer’s commitment to a brand or business, leading them to repeatedly choose that company over competitors

Software

is basically a set of instructions or commands that tell a computer what to do

Ethics

Refers to set of moral principles that guide how individuals and should behave and interact with others

Business ethics

refers to the application of ethical principles and moral values in a business context

Fair pricing

This is the touchstone of entrepreneurship

Social responsibility

Gives back to the community by contributing to its welfare

Innovator

Introduces new product, services or processes

Risk take

Takes financial, emotional, and social risks to start and grow a business

Organizer

Brings together land, labor, capital and other resources

Decision maker

Makes strategic and operational decisions that shape the direction of the business

Leader and manager

Guides the vision and mission of the business

Allocator of resources

Decides how to best use limited resources to maximize efficiency and productivity

Job creator

provides employment opportunities, and contributes to lowering unemployment

Economic contributor

Contributes to GDP growth, tax revenue, and economic development

Social change agent

Promote sustainability, inclusivity, and community welfare

Responsibility

Refers to a duty or obligation that an entrepreneur has in managing and growin their business

Vision & strategy

Financial management

Leadership and team building

Product or service development

Responsibilities of entrepreneur