Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how


Chapter 2- Opportunity seeking, screening, and seizing

see things in a very positive and optimistic light Entrepreneurial mind frame
the entrepreneur is not easily disheartened, but is rather driven to persevere even more Entrepreneurial heart flame
this refers to the ability of the entrepreneur to sense without using the five senses Entrepreneurial gut game
• Socio-Cultural Environment • Political Environment • Economic Environment • Ecological Environment • Technological Environment Macro Environmental Sources (SPEET)
• Rivals or competitors • Suppliers of input • Consumer market segments • Substitute products or services • All other support and enabling industries Industry Sources
• Increased or decreased demand • Higher or lower Supply • Threat of Price War Market Sources
• Specific target market segment of a particular enterprise micromarket
• Preferences refer to the tastes of particular groups of people • Consumer perceive the product • Arousing the customers’ interest to buy Consumer Preferences, Piques, and Perceptions
• The Personal Screening (Three Questions) • The Pre-Feasibility Study • The Feasibility Study Opportunity Screening
based on the estimated number of possible customers who might avail the product or service Market Potential and Prospects
Using a set of demographics (e.g., gender, age, place of residence, income class, etc.) will be the most basic approach in determining the target segment. Segmenting the Market
This process would determine how saturated the market is in the given area of coverage. Assessing Competition
Entrepreneur should assess the potential market share he or she can attract Estimating Market Share and Sales
• Quantities Demanded • Quality Specifications Demanded • Delivery Expectations • Price Expectations Technology Assessment and Operations Viability
This would determine the needed capacity of operations. Quantities demanded
Dictates the quality of input, quality assurance of the process transforming input to output Quality specifications demanded
Knowing how much, how frequent, and when to deliver to costumers. Delivery expectations
The selling price would be evaluated by the costumer. Price expectations
• Pre-operating Costs • Production/Service Facilities Investment • Working Capital Investment Investment Requirements and Production/Servicing Costs
These are the costs related to the preparation for the launch of the business. Pre-Operating Costs
Long term investments for the actual business establishments Production/Service Facilitate Investments
includes the investment needed to operationalize the business, composed of cash, accounts receivable, and inventories Working Capital Investments
• Income Statement • Balance Sheet • Financial Ratios and Measurements Financial Forecasts and Determination of Financial Feasibility
Measures an enterprise performance in terms of revenue and expenses over a certain period Income Statement
Assets= Liabilities + Equity Balance Sheet
Revenues - Expenses = Income or Profit (loss) Income Statement
all the investments in the enterprise including the initial investments Assets
represents the enterprise debts to suppliers, to banks, to government, to employees, and other financiers Liabilities
investors' investments in the stock (or shares) on the business Stockholders' equity
• Choose the correct technology • Choose the right people • Design the best possible operating workflow • Specify the systems and procedures that would govern the business enterprise • Design the organizational structure Five Important Planning Choices
Created by: yuniskie
Popular Standardized Tests sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards