ENTREPRENEUR

WEEKs 1- 2: 4Ms (Manpower, Method, Machine and Materials) and PRODUCTION PLAN AND MARKET PLAN

  1. Manpower is the human labor force involved in producing a product.

  2. The conversion of raw materials into finished goods is called merchandising.

  3. Manufacturing is the process or step by step produce in producing a product.

  4. Machine is used in the production of goods or delivery of products and services.

  5. Before purchasing equipment, you must consider your income.

  6. Raw materials are needed in the creation of a product and part of the final output.

  7. A Market plan is the administrative process that takes place within a manufacturing business and that involves making sure that sufficient raw materials, staff, and other necessary items are procured and ready to create finished products according to the schedule specified.

  8. Product & product’s unique features present the product description and specification.

  9. A marketing plan is a blueprint that outlines how a company will implement its marketing strategy.

  10. A Vision statement is a definition of the company’s business, who it serves, what it does, its objectives, and its approach in achieving them.

  11. Marketing objectives are qualitative measures of accomplishment by which the success of marketing strategies can be measured.

  12. A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user.

  13. The supply chain segment involved with getting the finished product from the manufacturer to the consumer is known as the physical store.

  14. SWOT is used as part of a strategic planning process.

  15. Threats are probable problems that a business or the entrepreneur faces

  16. Objectives and Sales Projection defines the business current competition, both bank and nonbank, it outlines who your competitors are.

  17. Sales Projections estimate future sales revenue by analyzing historical sales data and using it to predict future sales patterns.

  18. Action Plan is a description of the specific actions we plan to take during the coming year to assure reaching the objectives we have set.

  19. This aspect of strategic market planning involves determining the target market, specifying the market strategy, and developing the tactical plans for the four Ps, is called specifying market strategies.

  20. a one-page summary of the basic factors involving the marketing of the service next year along with the results expected from implementing the plan is called market plan.

Answer sheet

  1. true

  2. false - manufacturing

  3. false method

  4. true

  5. false - budget

  6. true

  7. false - production planning

  8. true

  9. true

  10. false - mission statement

  1. quantitative

  2. true

  3. supply channel

  4. true

  5. weaknesses

  6. competition analysis

  7. true

  8. true

  9. marketing strategy formulation

  10. executive summary

WEEK 3-4: FINANCIAL PLAN (START UP CAPITAL REQUIREMENT &COMPUTATION OF PRODUCT AND SERVICE COST)/ PREPARATION OF PROJECTED PROFIT AND LOSS STATEMENT

  1. The money needed to start a new business.

  2. What is the computation range on computing for the startup capital?

  3. The goods purchased at cost to be sold at a profit for merchandising.

  4. The indirect materials not directly identified with the finished product and cannot be easily quantified.

  5. The total cost incurred in the manufacture of goods.

  6. This includes direct factory-related costs that are incurred when producing a product.

  7. When renting a space what is the required deposit?

  8. What are those that are directly related to or seen in the product?

  9. It is a statement showing the performance of the business enterprise for a given period of time. Also called as income statement or statement of Comprehensive income.

  10. Income derived from buying and selling of goods.

  1. Startup capital

  2. 1 month to 3 months

  3. Inventories

  4. Supplies

  5. Product cost

  6. Manufacturing Overhead

  7. One month payment and one-month advance payment.

  8. Direct material

  9. Profit and loss statement

  10. Revenues or sales

Expenses – there are various classes of expenses but they are generally classified as cost of services rendered or goods sold, distribution or selling expenses, administrative expenses or other operating expenses. Here are some examples of expenses;

a) Cost of sales – the cost incurred to purchase or produce products sold to customers during the period; also called cost of goods sold.

b) Salaries or wages expense – all payments as a result of an employer-employee relationship such as salaries or wages, 13Th month pay, cost of living allowances and other related benefits.

WEEK 5: PRESENTATION OF THE BUSINESS PLAN

  1. Use the active voice rather than the passive voice for all verbs.

  2. An executive summary usually ranges from four to six pages of text in length, plus exhibits

  3. Target audience. Here, you'll discuss how you'll acquire new customers

  4. This is where you'll detail the funding that's required and discuss investment opportunities. Market opportunity.

  5. Storytelling is a brief discussion of a defined topic delivered to a public audience in order to impart knowledge or stimulate discussion.

  6. Oral presentations are usually graded on two parts: content and diction.

  7. It refers to the quality, quantity, correctness, and appropriateness of analyses presented, including such dimensions as logical flow through the presentation, coverage of major issues, use of specifics, avoidance of generalities, absence of mistakes, and feasibility of recommendations.

  8. What is the effective speaking rate per minute?

  9. When is it best to answer questions when presenting?

  10. How many minutes should you allocate for presenting the internal assessment and external assessment?

ANSWER SHEET

  1. T

  2. Three to five

  3. marketing strategy

  4. Financials

  5. Oral presentation

  6. delivery

  7. Content

  8. 100 - 125 wors per minute

  9. At the end of the presentation

  10. 5 minutes each