Entrepreneurship and business planning
500 ss opportunities iption on the next to articles to add them to your introduction to business is a business plan so vital to the health of your business? Read the first section of our tutorial on how to build a business plan to find 't stick with a failing project or person just because you've already invested time and teegardin | flickr. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a ss plans can help perform a number of tasks for those who write and read them. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies what's included in a business plan, and how do you put one together? Simply stated, a business plan conveys your business goals, the strategies you'll use to meet them, potential problems that may confront your business and ways to solve them, the organizational structure of your business (including titles and responsibilities), and finally, the amount of capital required to finance your venture and keep it going until it breaks impressive? There are three primary parts to a business plan:the first is the business concept, where you discuss the industry, your business structure, your particular product or service, and how you plan to make your business a second is the marketplace section, in which you describe and analyze potential customers: who and where they are, what makes them buy and so on. This part may require help from your accountant and a good spreadsheet software ng these three major sections down even further, a business plan consists of seven key components:executive summarybusiness descriptionmarket strategiescompetitive analysisdesign and development planoperations and management planfinancial factorsin addition to these sections, a business plan should also have a cover, title page and table of long should your business plan be? On what you're using it for, a useful business plan can be any length, from a scrawl on the back of an envelope to, in the case of an especially detailed plan describing a complex enterprise, more than 100 pages. A typical business plan runs 15 to 20 pages, but there's room for wide variation from that will depend on the nature of your business. On the other hand, if you're proposing a new kind of business or even a new industry, it may require quite a bit of explanation to get the message purpose of your plan also determines its length. If you're just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version should be needs a business plan? The only person who doesn't need a business plan is one who's not going into business. The classic business plan writer is an entrepreneur seeking funds to help start a new venture. Many, many great companies had their starts on paper, in the form of a plan that was used to convince investors to put up the capital necessary to get them under books on business planning seem to be aimed at these startup business owners. Business owners find plans useful at all stages of their companies' existence, whether they're seeking financing or trying to figure out how to invest a ished firms seeking help. Before beginning the arduous and costly task of trademarking it worldwide, walker used a business plan complete with sales forecasts to convince big retailers it would be a good idea to promise to carry the 01-01-00 goods. They may feel the need for a written plan to help manage an already rapidly growing business. Or a plan may be seen as a valuable tool to be used to convey the mission and prospects of the business to customers, suppliers or an updating checklisthere are seven reasons to think about updating your business plan. If your business has changed a lot since you wrote your plan the first time around, it's time for an have had a change in management. New managers should get fresh information about your business and your company has crossed a threshold, such as moving out of your home office, crossing the $1 million sales mark or employing your 100th old plan doesn't seem to reflect reality any more. But business plans are not all the same any more than all businesses ing on your business and what you intend to use your plan for, you may need a very different type of business plan from another entrepreneur. You want your plan to present you and your business in the best, most accurate light. You want to reveal any positives that your business may have and make sure they receive due of plansbusiness plans can be divided roughly into four separate types.
A miniplan may consist of one to 10 pages and should include at least cursory attention to such key matters as business concept, financing needs, marketing plan and financial statements, especially cash flow, income projection and balance sheet. It's a great way to quickly test a business concept or measure the interest of a potential partner or minor investor. You don't have to be as careful, however, about such things as typos in the text, perfectly conforming to business style, being consistent with date formats and so on. For instance, you should use standard business vocabulary, omitting the informal jargon, slang and shorthand that's so useful in the workplace and is appropriate in a working plan. The majority of business plans are composed on a computer of some kind, then printed out and presented in hard copy. But more and more business information that once was transferred between parties only on paper is now sent electronically. An electronic plan can be handy for presentations to a group using a computer-driven overhead projector, for example, or for satisfying the demands of a discriminating investor who wants to be able to delve deeply into the underpinnings of complex : the small business encyclopedia, business plans made easy, start your own business and entrepreneur ue on to the next section of our business plan how-to >> plan your ad will close in 15 seconds... Login clicking "create account" i agree to the entrepreneur privacy policy and terms of ise 500 ss opportunities iption on the next to articles to add them to your introduction to business is a business plan so vital to the health of your business? See our privacy policy and user agreement for reneurship and business planning lecture this document? Related slideshares at reneurship and business planning lecture malicse-somoray, drewy's falafel and chicken hed on nov 13, you sure you want message goes the first to t at polytechnic university of the philippines. Jonkoping reneurship and business planning lecture reneurship and b usiness p lanninglecture compilationana marie m. Before searching the business idea - assessing the educational background - financial strength - commitment - expertise & interest - personal qualities - prior experiences - external contacts and resources b. Assessing business ideas - discuss products/services with prospective customers - assess the market using desk & field research - analyze your competition - consider possible start-up strategies - set ball-park targets and prepare first-cut financial projections - prepare a simple action plan - critically examine ideas from all angles d. From business idea to business plan chapter 4: entrepreneurial option: start up, buy out or franchising a. Buying an existing business - advantages and disadvantages - how to value a business - step by step on how to buy a business. In addition, self-employment or business start-up is a response by significantnumbers of people to job losses in the current global economic crisis. Motivated people need theright skills to identify entrepreneurial opportunities and to turn their entrepreneurial projectsinto successful r 1 a perspective of entreprenuershipentrepreneurship and introduction entrepreneurship has become increasingly crucial as the philippines struggles with economic challenge. Encouraging entrepreneurship to flourish in the philippines will certainly increase this dwindling capital of hope for most filipinos, and may prevent some from leaving the country to seek employment abroad. Technology (science, engineering, management, entrepreneurship) the effective and efficient utilization of the various resource elements contribution growth. Of the registered businesses in the country by which 63% of the labor force earn a living. Is an owner or manager of a business enterprise who makes money through risk and initiative. Serial entrepreneura serial entrepreneur is one who continuously comes up with new ideas and starts new businesses. Serial entrepreneurs are more likely to experience repeated entrepreneurial are more likely to take risks and recover from business yle entrepreneura lifestyle entrepreneur places passion before profit when launching a business in order to combinepersonal interests and talent with the ability to earn a living.
Many entrepreneurs may be primarilymotivated by the intention to make their business profitable in order to sell to shareholdersin contrast, a lifestyle entrepreneur intentionally chooses a business model intended to develop andgrow their business in order to make a long-term, sustainable and viable living working in a field wherethey have a particular interest, passion, talent, knowledge or high degree of expertise. A lifestyleentrepreneur may decide to become self-employed in order to achieve greater personal freedom, morefamily time and more time working on projects or business goals that inspire them. A lifestyle entrepreneur may combine a hobby with a profession or they may specifically decide not toexpand their business in order to remain in control of their venture. Common goals held by the lifestyleentrepreneur include earning a living doing something that they love, earning a living in a way thatfacilitates self-employment, achieving a good work/life balance and owning a business withoutshareholders many lifestyle entrepreneurs are very dedicated to their business and may work within thecreative industries or tourism industry where a passion before profit approach to entrepreneurshipoften prevails. Entrepreneurship defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". Hands- for shifting gears when necessary • backbone- for the confidence to believe in ones self and to move ahead • mouth- for effective communication and being able to sell an idea • nose- for smelling signs of trouble and forseeing possible problems • good ear- for keeping to the ground and sensing change and opportunitycharacteristicsentrepreneurs are those individuals who are willing to take initiative and to pursue innovative most successful entrepreneurs are those who possess enthusiasm and optimism for life, who makea zestful confident attack on his or her daily problems, who show courage and imagination, who pindown their buoyant spirit with careful planning and hard work and says "this may be tough, but it canbe licked". Positive attitude • takes initiativerolesthe essence of entrepreneurship is the creation and building of business to exploit a marketopportunity. To carry out their directive successfully, the entrepreneur has to take on the followingroles: the inventor, who comes up with new products or processes, often combining previouslyunrelated elements or ideas; the innovator, who implements a new way of doing something, or comesup with an innovative, practical use for a new product or process; the manager, who sets goals andidentifies ways to reach them; and the administrator, who executes managerial strategies and sees thatthe organization achieves its ensure their success, all businesses, big or small, perform numerous tasks. Because of limitedfinancial and human resources, sometimes very limited, it is often the owner of a small business or self-employed worker who is in charge of both managing and carrying out all business activities. These skills must be developed and usedoptimally in order to ensure the sound management and success of a business. However, no twoentrepreneurs have the same abilities, but in order to start and grow their ventures, research has shownthat successful entrepreneurs must acquire the following skills: • opportunity identification • creative thinking • researching • networking • evaluation and assessment • goal setting • communication • innovation • planning • organization • decision making • team building • problem solving • leadership. When you own a business, you also own the means of production, which can develop into substantial value. It is not just the ability to say what hours you will work but it also involves every step in the operation of a business. Membership in chambers of commerce, business awards, community boards, and other corporate boards of directors serve the personal esteem and satisfaction motivations of some entrepreneurs. Many entrepreneurs have started businesses amidst troubling financial circumstances and only prospered monetarily once their companies took off. As entrepreneur is a gambler of distorted impressions, because business ventures are more likely to succeed if the factors are carefully studied. Somewhere along the line, “entrepreneurship” became synonymous in the public mind with “new-age” or “unconventional the owner of a restaurant, laundromat, or carpentry business is no less an entrepreneur than the founders of the next youtube nestled in an expensive city loft. Yet luck is not the essential ingredient to business success that we often believe it to be. You need a business plan countless would-be entrepreneurs have delayed starting businesses because they did not have a lengthy, formal business plan. It has long been insinuated that “real” businesspeople do not take any kind of action without massive planning in advance. What needs to be firmly understood before committing to a venture is the basic, underlying business model: who are the customers, what do they want, and can you profitably supply it. You need perfect timing some entrepreneurs can honestly say that the timing was right for them to go into business. This is especially true as you age, when deciding to open a business usually entails a radical shift in career paths.
Even younger businesspeople often find themselves juggling college in tandem with their start ups – far from an easy task, and hardly “perfect timing. Michael jordan, eddie van halen, and (in business) google are cultural icons largely because of how quickly they established themselves as big-time stars. Fortunately, there is room in the business world for people who make mistakes en route to succeeding. Msmes defined micro, small, and medium enterprises (msmes) are defined as any business activity/enterprise engaged in industry, agri-business/services, whether single proprietorship, cooperative, partnership, or corporation whose total assets, inclusive of those arising from loans but exclusive of the land on which the particular business entitys office, plant and equipment are situated, must have value falling under the following categories: b. Types of micro, small and medium enterprisemicrobusiness - is a type of small business, often unregistered, having five or fewer employees andrequiring seed capital of not more than 3 sal services duplicating standautomotive trouble shooting lugawanbalut/penoy pedling newspaper standbanana, camote and turon stand notarial servicesbarbeque stand pizza standbuco salad stand plumbing serviceburger stand tinapa, tuyo, daing standbutong pakwan, mani stand rags productionbrokerage re packing (paminta, vetsin)carwash scrap buy and sellcellphone accessories shoe shine and repairscellphone repair siomai in cartfishball cart sorbetes vendorfruits and veg. Electric fan repair upholsteryvulcanizing shop watch repairsari sari storebusiness plan and feasibility study preparation servicessmall and medium business enterprise - - is a type of business having an employees of 10-199 andrequiring seed capital of not more than 100 of smbe 1. Service business – providing various types of labor services in a wide variety of business sectors. Ality – hotels, motels, event planning, catering, travel and tour ion services – pre school, grade school, high school, colleges 3. Agri and aqua business - various businesses involved in food production, including farming and contract farming, seed supply, agrichemicals, farm machinery, wholesale and distribution, processing, marketing, and retail sales. Broiler production, cattle fattening, dog breeding, poultry raising, hog raising, honey bee production, quail raising, tilapia raising, raising live stock, growing of agricultural plants and crops, agriculture and aqua culture chapter 3: the search for a sound business ideasthis chapter will teach you the ways to discover a winning business idea by indentifying which one canand will work for you, and how to narrow down your options and evaluate the feasibility of your g a good idea is easy, what’s difficult is having determination to start and see the venture throughthe end. Most aspiring entrepreneurs spend too much time worrying despite of having unique and goodconcept for their business. Before searching for business ideathe starting point for developing new business ideas lies inside the prospective entrepreneur ratherthan in the marketplace, laboratory, business plan etc. You are the critical component - it is yourstrengths and weaknesses which should dictate the areas in which to seek ideas and the likely scale &scope of your business. At the end of the day, support for your business by financiers, suppliers,customers etc. Especially aware that inventors and innovators does not necessarily make good business ional background any (special) business or technical qualifications? Do you have a hobby/interest/talent which could become the basis of a business? Finding the business ideawhen looking around for business ideas, bear in mind that these could be based on any of the followingapproaches: • a manufactured product where you buy materials or parts and make up the product(s) yourself. Assessing business ideasonce your short-list has been developed, you will need to start devoting substantial time to assessment,research, development and planning. Prepare a simple action plan cover the first year of operations to highlight the critical tasks and likely funding needed before the business starts generating a positive cashflow. From business idea to business plan having firmed up on a specific idea and conducted preliminary research, you have several optionsincluding the following: • undertake more detailed/specific market research. Other issueswhich you may need to start thinking about include the following: • select a company or business name, logo etc. Consider likely telephone/communications in mind that, to develop a successful business, you must: • define precisely the nature of the business • offer clearly identifiable products or services • tap a real need or generate a demand for your product/service • operate within your expertise and resources • have realistic targets and have reasonable expectations. Chapter 4: entreprenueral options : start-up, buyout orfranchising for a new entrepreneur, the decision to own and operate a business is the result of his seriousexploration of ideas and sensible evaluation of opportunities.
Very often, the decision to engage is a particularbusiness would minimize the possible waste of time, energy and resources if it is made after carefullyaddressing these issues. They find it exciting and satisfying to be able to put to use the latest ideas, process and facilities in running a business. Also, some entrepreneurs get a feeling of fulfilment in their autonomy and freedom to run a business. Lower start-up costs - depending on the type of business you start, costs may be lower than a franchise where there is no up-front purchasing fee or supply costs 2. Site selection - you choose where to locate your business and what marketing procedures to follow 4. You also avoid “goodwill” expense of buying an existing business along the possibility of unknown or contingent liabilities. High commitment - starting your own business requires a higher commitment of time and energy 6. You will need to look in to every small detail that goes into running your business and that may mean long working hours and fewer chances of vacation. Thus you may need to learn a lot of new subjects like administration, planning, promotion, human resource development, research and development etc. Owning a business means exposure to direct legal problems, which you would not face as an employee in a company. If somehow you are not able to run your business yourself and your spouse or children take over, then there is a huge risk that the customers may leave you owing to different methods of business employed them. Buying an existing some entrepreneurs, buying an existing business represents less of a gamble than starting a newbusiness from scratch. While the opportunity may be less risky in some aspects, you must perform duediligence to ensure that you’re fully aware of the terms of the ng on the right type of business to buyideally any business you buy needs to fit your own skills, lifestyle and aspirations. Before you start looking,think about what you can bring to a business and what youd like to get what is important to you. Your commitment - are you prepared for all the hard work and money that you will need to put into the business to get it to succeed? Your strengths - what kind of business opportunity will give you the chance to put your skills and experience to good use? The business sector youre interested in - learn as much as you can about your chosen industry so you can compare different businesses. Find out how to comply with all the regulations and licences that apply to your business sector. Some businesses can be easily ages to choosing an existing businessthere are many favorable aspects to buying an existing business: • drastic reduction in startup costs • facilties, technology already available • cash flow may be immediate because of existing inventory and receivables • existing goodwill and easier financing opportunities, assuming the business has a good reputation • they already have available personnel with know how. It may be easier to obtain finance as the business will have a proven track record. Many of the problems will have been discovered and solved antages to choosing an existing businessthe following are some downsides to buying an existing small business: • purchasing cost may be much higher than the cost of starting a new business because the initial business concept, customer base, brand and other fundamental work has already been done • hidden problems associated with the business and receivables that are valued at the time of purchase, but later turn out to be non-collectible • some of the groundwork to get the business up and running will have been done. Many of the problems will have been discovered and solved to value a business valuing a business can be one of the most worrying parts of buying an existing are several valuation methods you can use. For specific advice on valuation methods see ourguide on how to value and market your business.
Your accountant may be able to help you value thebusiness, but a business transfer agent, business broker or corporate financier will be best qualified toprovide valuation advice. Healthy businessto get a general idea of how healthy the business is, look at:• the history of the business• its current performance - sales, turnover, profit• future projections or a business plan• its financial situation – cash flow, debts, expenses, assets• why the business is being sold• any outstanding or major litigation the business is involved in• any regulatory changes which might have an impact on the part of your investigations, talk to the vendor and, if possible, the business existing customers andsuppliers. Customer and suppliers may be able to give you information that affects your valuation, as wellas information about market conditions affecting the business. These are usually difficult to measure and couldinclude:• the companys reputation• the relationship with suppliers• the value of goodwill• the value of licenses• patents or intellectual propertyyou should consider how the value of these assets could be affected if you decide to buy the list below details other factors that will affect the value:• stock• location• assets• products• debtors• creditors• suppliers• employees• premises• competition• benchmarking - what other businesses in the sector have sold for• who else in the sector is for sale or on the market• the economic climate - will any new government legislation have an impact on the businessonce you have considered all these factors you can then decide how much you want to offer, orwhether you want to buy it at you do decide to make an offer, and agree a price with the seller, a period of time is allowed for you toverify that all of the information you have been told is accurate. See thepage in this guide on how to make sure a business is worth buying: due -by-step: how to buy a business1 get professional adviceprofessional help is invaluable as you go through the negotiation, valuation and purchase process. Researchresearch the sector youre interested in, including the best time to buy, and shortlist two or threebusinesses. Arrange financelenders generally require:• details of the business/sales particulars• accounts for the last three years• financial projections - if no accounts are available• details of your personal assets and liabilitiesthere are several possible sources of finance you could consider. For specific advice, see our guides onbank finance, financing from friends and family and equity our interactive tool to identify the right finance for your business. Completing the sale, it may be worth trying to negotiate an overlap period so you have time to become familiar with the business before taking over. Franchising concepts of franchising franchise – an agreement whereby an independent person is given exclusive rights to sell a specified good or ising – a marketing system based on a legal agreement wherein one party (franchisee orfranchiser) is given the right to handle a business as an independent owner but is required to abide bythe terms and conditions specified by the other party (franchisor). The franchisor owns the overall rights and trademarks of the company and allows itsfranchisees to use these rights and trademarks to do business. The franchisor usually charges thefranchisee an upfront franchise fee for the rights to do business under the franchise name. In addition,the franchisor usually collects an ongoing franchise royalty fee from the isee - a franchisee is an individual who purchases the rights to use a company’s trademarkedname and business model to do business. A business format franchise this opportunity is very popular, and involves providing the franchisee a proven business modelusing a recognized product and brand. Most well known fast food franchises are of this type, and also many jewelers andother ubiquitous high street does franchise providelike other businesses, franchising also requires commitment , time, effort and the money that wouldspend on franchising. The franchisor not only looks at the business location of the outlet but also thefinancial and management capability. Business name– the franchisee may have a different company name but it’s the product should have the names that are patented by the franchisor. Research and development – the franchisee must see to it that the business does not remain stagnant. R&d is necessary to beat the ages of franchising:1) the business you are franchising is already successful and is a proven idea. Usually, beforeoffering the business for franchising, the original owners have already build it up and havealready made it successful. Franchising, for them, is a way to expand the business; it is not a wayto build the business from a small one to a big one. From getting the supplies to cooking the food (if you’refranchising a fast food or a food cart business) to selling the products or services to summarizingyour numbers and producing your financial reports, the systems are already there for you. Statistics show that franchisees stand a much better chance of success than people who start independent businesses; independent businesses stand a 70 to 80 percent chance of not surviving the first few critical years while franchisees have an 80 percent chance of surviving8) buying power - your franchise will benefit from the collective buying power of the parentcompany as the franchisor can afford to buy in bulk and pass the savings along to ory and supplies will cost less than if you were running an independent company.
2) ongoing costs – besides the original franchise fee, royalties, a percentage of your franchise’s business revenue, will need to be paid to the franchisor each month. Not all franchisors offer the same degree of assistance in starting a business and operating it successfully. Just because a business is offering franchises is no guarantee that the franchise you buy will be successful. In some cases, franchising is the business; all the franchisor is interested in is selling more franchises. Decide on the best entry strategy for your business • find a means to differentiate your product or service for what is existing • see if you have enough resources in the playing field • check if you have a fighting chance against competition • find out if there is any possible hindrances to starting your businessa. Information about the markets can be obtained from differentsources, varieties and formats, as well as the sources and varieties that have to be obtained to make thebusiness to get information? Internet – offers information on the business trends, practices and market sizes syndicate reports – provide an overview of how certain industries are performing industry reports – an insider information developments and current practices of big players in certain industries such as (banking, real estate, tourism) through regular updates and reports released by various industry associations. Academic papers – feasibility studies and business plans conducted by undergraduates and graduate students of the universities and colleges publications – books, newspapers, magazines normally articles on how the industries and businesses are segmentationmarket segmentation is the division of the market or population into subgroups with similarmotivations. Profitability while different organizations in a market will have different levels of profitability, they are allsimilar to different market r 6: business plancreating a blue print for your business planning may be viewed as a systematic approach to achieve certain objectives. Having a business plan is also an ideal to starta business, for that means you’re not leaving anything by chance. The business plan is a document that helps the small business owner determine what resourcesare needed to achieve the objectives of the firm, and provides against to evaluate the results. Thebusiness plan is a sort of a blue print and it keeps the entrepreneur on the right track. Before you write down your business plan, you have to choose a suitable name for the companyyou’re going to put up. This is the name you’ll be constantly referring to when you begin piercing yourbusiness plan together. Title page and contents -name of the business -the name or the names of the proponents - address - the telephone number - email and website address - date and name of the person who prepared business plan. Executive summary - is a portion of the business plan that summarizes the plan and states of the objectives of the business. Production planning has been defined as the technique of forecasting or picturing ahead every step in a long series of separate operations, each step to be taken in the right place, of the right degree, and at the right time, and each operation to be done at maximum efficiency. In other words, production planning involves looking ahead, anticipating bottlenecks and identifying the steps necessary to ensure smooth and uninterrupted flow of production. 10 is the project r 7: forms of small business ownership, registering and organizing when starting your small business you will find that there are 5 main forms of business ownership tochoose from, which are listed below. The form of business ownershipyou choose will directly affect how much taxes you have to pay and what business licenses and documents you willneed. Many small businesses start as one form of ownership and changes to another as it grows. You can decide to hire a lawyer or an attorney who specializesin small businesses to help you choose a form of business ownership and ensure you have all the required permitsand licenses. A sole proprietorship is the mostsimple form of business and the easiest to register in the philippines, through the bureau of trade regulation andconsumer protection (btrcp) of the department of trade and industry (dti).
Depending on the type of business, you also may enjoy theflexibility in cityanother advantage of a sole proprietorship is its simplicity. The business can be started almost immediately andwith a minimum of red start-up costsstart-up costs also may be minimal for a sole proprietor. With the abundance of available online businesses, sole proprietors can start with just acomputer and internet antages: personal liability a disadvantage of sole proprietorship is that there is no legal separation between business and personal liability. Difficulty raising money sole proprietors can face hurdles in raising money if it’s needed to start or sustain a business, according to all business. Banks often are fearful of lending money to sole proprietors because repayment becomes questionable if the business fails or the owner dies. What you should get, as a minimum:• certificate of business name registration – dti• certificate of registration – your bir revenue district office (rdo)• mayor’s permit – at your city hall• barangay clearance – your barangay hall• ss number (as an employer; or for yourself as self-employed) – sss branch covering your area• philhealth – philhealth in quezon city what you need• name of your business to be registered through dti business name registration system (bnrs)• original & photocopy of proof of citizenship (e. The franchisor or franchisee• for franchise holder: photocopy of business name certificate of franchisor steps• visit dti business name registration system (bnrs). Make at least 10 copies of your dti business name certificate, which you’ll need for other registrations and to open your business bank account. A business partnership featuring two or more partners in which each partner is liable for any debts taken on by the business. Each partner should be involved in day-to-day operations of the business, and should make management decisions. Any partner may represent the business without the knowledge of the other partners— the actions of one partner can bind the entire partnership. Limited partnership- a limited partnership consists of at least one general partner (controls the business) and at least one limited partner(investor). One of the co-owners of a business organized as limited partnership who (unlike a general partner) does not participate in the management of the firm and has limited personal liability for the firms debts. Prospective employees may be attracted to the business if given the incentive to become a partner. Business partnership disadvantages• business partners are jointly and individually liable for the actions of the other partners. For example, if you own only 1 percent ofthe partnership and the business fails, you will be called upon to pay 1 percent of the bills and the otherpartners will be assessed their 99 percent. Business permit and mayors license for city of ure• secure reserved name from dti• present accomplished forms/docs for processing and evaluation to sec. Present verification from local bank of minimum paid up capital in trust account• present requirements if one of the partners is a foreigner or corporation• pay filing fees to cashier• claim registration from records division from records division• complete with all applicable government rship in the philippines: • business registration • government licensing • office set-up • tax incentive programs • business developmenttotal registration process is 1-2 weeks3. Now customize the name of a clipboard to store your can see my reneurship & business article looks at the multifaceted relationships between entrepreneurship and business planning, and it considers the causes and effects of entrepreneurship in new and preexisting businesses. As a strategic management tool, business planning is seen as one of the activities undertaken in the entrepreneurial process. Types of plans and aspects of business planning are also discussed, along with several contradictory schools of thought on the factors that determine entrepreneurship, the outcomes of planning, and information ds business planning; control systems; corporate venturing; entrepreneurial behavior; entrepreneurship; environmental scanning; locus of planning; planning flexibility; planning reneurship: ss ventures fuel the economic growth and prosperity of nations and regions (yusuf, 2002), and entrepreneurship has long been considered significant in encouraging such socioeconomic growth and development. Entrepreneurial ventures provide job opportunities, offer consumer goods and services, and increase general prosperity and is no universally accepted definition of the term "entrepreneurship. Entrepreneurship is a derivative of the term "entrepreneur," which historically referred to a businessperson, business owner, or owner-manager.
In a narrow sense, entrepreneurship can be referred to as the creation of new enterprises, but over the years, the scope of this concept has expanded beyond basic new-venture creation (also known as corporate venturing or the setting-up of intra-firm 'venture capital' processes). Expanded scope of entrepreneurship is two-pronged: on the one hand, it refers to the growth-oriented and employment-generating creation of new ventures; on the other hand, it includes small businesses and micro-enterprises that provide self-employment, even if they do not foster employment growth. Naturally, entrepreneurship is fostered by entrepreneurial behavior, or behavior that fosters growth through innovative ideas, products, services, markets, and technologies (stevenson & jarillo, 1990). In macro terms, the word "entrepreneurship" is synonymous with the advancement of an economy (schumpeter, 1934) and the disruption of market equilibrium. It is not surprising, therefore, that entrepreneurship has rapidly become a dynamic field of study and reneurs are creative, innovative, and opportunistic. At the individual level, entrepreneurship has been attributed to individuals with certain internal psychological traits, sociological background characteristics, and behaviors. Some writers, on the other hand, prefer to define entrepreneurship by what an entrepreneur does, not by who he or she is. Is widely recognized as a process which involves businesses of all sizes, be they new or preexisting, owner-managed, family-run, or corporations. The success of a firm in its entrepreneurial ventures depends on the commitment of top management in taking the firm through the entrepreneurial process, which consists of opportunity identification, definition of business concept, assessment of resources requirements, acquisition of resources, and management and harvesting of the venture. Entrepreneurship is motivated by the need to transform, create or grow a business, create wealth, or change the status quo in response to factors such as intensified competition, corporate downsizing, corporate delayering, and technological progress. Through its two sub-processes, discovery and exploitation, corporate entrepreneurship refers to the process by which an organization pioneers, innovates, and takes risks for growth and development. Corporate entrepreneurship is made manifest in the form of corporate venturing, strategic renewal, and spin-offs for ideas generated within organizations (hayton, george & zahra, 2002). The first is the creation of new businesses within a preexisting organization, also known as 'corporate venturing' or 'intrapreneurship,' and the second is the activity associated with the transformation or renewal of preexisting organizations, which involves the creation of new wealth through a combination of resources. Successful entrepreneurship will lead to the creation of value, through several means, including:The renewal of the organization renewal of s in the pattern of resource creation of new capabilities to add new possibilities for positioning in breaking of new remixing of old ideas to make seemingly new reneurship levels differ from one geographic location to another due to variations in environmental conditions and, in particular, economic, political/legal, and social conditions. The main factors affecting entrepreneurship in a particular locality are:Entrepreneurship systems and rial cultural reneurial research has discovered, for instance, that countries whose populations are excessively skewed toward old or young individuals are likely to experience low levels of entrepreneurial activity. Furthermore, a culture's entrepreneurial orientation — the way that culture is inclined toward entrepreneurship in the areas of autonomy, innovativeness, risk taking, proactiveness, and competitive aggressiveness — combined with key economic, political/legal, and social forces, will impact the degree of entrepreneurship experienced, and ultimately will impact the global competitiveness of a nation or nations (lee & peterson, 2000). Nations also, institutional patterns such as access to research and educational institutions, access to sources of financing, and the availability of educated labor, help to determine the manner in which an innovation — and hence entrepreneurship — emerges within a country. Log in could be a description of this proposed business and what could be the reason someone could... Your main issue in trying to write a business description is working out a solid business plan that would convincingly show a prospective... Ive dissonance se formal breath becomes ational summer school for advanced reneurship and business cooperation with i̇zmir kâtip çelebi university / ive course: 60 hours / one excursion language: of participants: circa 20. It is recommended to verify with your home university/institution that the grades you earn in bremen can be applied to your curriculum or course of reneurship and business es, excursion and work, individual preparation and purpose of this course is to provide students with concepts and tools to successfully develop and manage all components of a strategic business plan generally, and to design a framework for understanding the processes involved in developing plans for new venture start-ups or for new projects being launched by existing businesses course gives case studies of real applications from turkey and europe in addition to hypothetical examples developed for each task. Entrepreneurial competences will be structured into comprehensive business 1 entrepreneurship and business 2 cross-cultural management and communicationgerman language – a short introduction module 3plant tour mercedes benz es, workshops, project uous assessment and final us update/ber 2017 / pdf sor dr. Saban celik assistant professor department of business i̇zmir kâtip çelebi university / turkey lecturers for cross-cultural management and german language /hochschule icate / transcript of the end of the course a certificate of attendance and transcript of records will be issued to each participant.
