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Chapter 5 of the document discusses the essential steps for organizing a business enterprise in the Philippines, emphasizing the importance of personal values, vision, mission, and market research. It highlights the need for a unique business name that creates interest and competitive advantage, as well as the significance of understanding business structure and stability for profitability. The chapter also provides tips for choosing an effective business name and outlines the characteristics of different business ownership forms.

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Natcon Productions
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10 views

chapter-5-wea

Chapter 5 of the document discusses the essential steps for organizing a business enterprise in the Philippines, emphasizing the importance of personal values, vision, mission, and market research. It highlights the need for a unique business name that creates interest and competitive advantage, as well as the significance of understanding business structure and stability for profitability. The chapter also provides tips for choosing an effective business name and outlines the characteristics of different business ownership forms.

Uploaded by

Natcon Productions
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ENTREPRENEURIAL VENTURES IN

THE PHILIPPINES
CHAPTER 5
Organizing The Business
Enterprise
The prospective entrepreneurs before going
into the intricate field of the business world
should first go into deep analysis of their
personal and soacial attitudes. it is not only
material assets but personal values and
characteristics.
1. Vision & Mission Of The
Company
An entrepeneur must know where the business is
going after five to ten years from its existence. The
organization must have clear focus on goals and
objective. Mission are the ways to accomplish the
vision of the organization so as it mus have
agreement in setting.
2. Target Market
The product will be for the satisfaction of the group
of people. It must be specific, can be identified from
the others, and can be easily recognized. An
entrepreneur must conduct market research to
better determine the needs and wants of the target
market.
3. Benifits Of The Client
The name of the product must create
competitive advantage over the competitors. It
must produce curiosity to its clients so as the
arouse awareness. The entrepreneur must
provide positive impact in introducing the
product to market through its name.
4. Interest Of The Market
The business name must develop and
create interest to the market to sustain
salability and adaptability in the
community as whole.
5. Interest Of The Market
The entrepreneur cannot use the
competitor’s name. He must create a new
one. To create better awareness and
curiosity, the company must study,
analyze and evaluate how the rival in the
market creates their own business name.
6. Competitive Advantage
The company must know how its
product will be more salable from the
other rival company. One
entrepreneur can focus on the
uniqueness that can’t be seen nor be
observed from the existing
competitors.
THE EVENT FORMATION PROCESS
FOR ENTREPRENEURS
1. The Change In Life Path
The entrepreneur must conceive the idea that going
int business would mean a great change in his
lifestyle and working hours. He must be able to take
responsibility and lead others. He must be able to
take driver’s seat of the business in planning,
organizing, directing and controlling not only the
people but also the resource unnder his disposal.
2. The Desirability Of The
Business Concept
The desirability of the business concept is
usually born by the experience of the
entrepreneur form his previous employment or
exposure. the take-off the business comes from
the idea generated for the prospected income.
3. The Feasibility of
Implementation
The business project must be feasible whether it is an
entirely new venture or an expansion. it must be able
to produce or sell products or services for an attractive
rate of return of investments to the entrepreneur. it
requires intensive planning and analysis of the market
conditions prevailing in the community.
4. Forming The Business
Enterprise
The business form has to be studied according to
the availability of capital investment that will go
into the operation of the enterprise. The
enterpreneur should also look into his personal
capability of running the business either alone or
with a partner.
4. Forming The Business
Enterprise
The business form has to be studied according to
the availability of capital investment that will go
into the operation of the enterprise. The
enterpreneur should also look into his personal
capability of running the business either alone or
with a partner.
5. Stability of Business Income
& Profit
Profit and Business income are to important
factors that encourage an entrepreneur to
make the stability of the business become
possible. An aggressive entrepreneur would
like to expand his business operation to
generate more profit.
TIPS IN CHOOSING THE BUSINESS
NAME
EASY TO RECALL OR REMEMBER:
The business name must be understandable so it is
easily stored in the memory.

PLEASANT MEANING CREATES


PLEASANT FEELINGS:
It produces positive or favorable feeling upon
saying or mentioning to public.
EASY TO PRONOUNCE:
The business name must be cited as freely as it can
be.

EASY TO SPELL:

The business name must be simple words that are


used in everyday communication will be
advantage.
RELATED TO THE PRODUCT:

The business name must describe the product. It


represent the features of the product.
Business Government
Function
Organization Agency
Issuance of the certificate
Single Department of
of registration of business
Proprietorship trade & industry
name
Partnership or Securities & Issuance of the certificate
Corporation exchange commison of registration

Corporative corperative development Issuance of the certificate


authority of registration
Sole or Single
Proprietorship
It is a form of business organization that is owned and usually
management by one person. It is the oldest and the simpliest
form of business ownership. it is also easiest to start and
manage.

Advantage: Disadvantages:
Low Cost of Formation & Unlimited Liability
Dissolution Limited Financial Resources
Independence & flexibility Limited Business skill & knowledge
Tax Advantage & less Government
Regulation
Partnership
It is an association of two or more people who act as co-owner
of the business. Each partner contributes money, property or
service and profession to thier organization.

Advantage:
Easy to Organize
Availability
retention of profit each partner
Better business skills and
Knowledge
Thank
You

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