Professional Documents
Culture Documents
2M - Entrepreneurship
2M - Entrepreneurship
Core Competencies
1. COMMUNICATORS
- a person who is able to convey or exchange
information, news, or ideas, especially one who is
skilled.
2. LEADERS
3. Functional Structure
- A leader is someone who inspires passion and
- This structure is based on the concept of
motivation in followers.
functional foremanship.
3. SPECIALIST
- In this structure, the line authority is
- a person who concentrates primarily on a particular
channelized through the staff specialist.
subject or activity: a person highly skilled in a
specific and restricted field.
4. PROBLEM SOLVER
- a thinker who focuses on the problem as stated and
tries to synthesize information and knowledge to
achieve a solution.
4. Committee Structure Forms of Operation:
- A form of staff organization formed for 1. SERVICE
giving specialized advice to line managers. - A type of business whose principal
- A committee is a group of two or more undertaking is the selling of one's services.
appointed, nominated or elected persons to 2. MERCHANDISING
consider, discuss, decide, recommend or - This business is involved in buying articles
report on some issue or matter assigned to or commodities and selling the same for a
them. profit.
3. MANUFACTURING
- This business concentrates on converting
raw materials into finished products.
4. INVESTMENT
- A business that invests or lends money and
collects the same with interest
FORECASTING REVENUES
Forecasting
Forms of Business Organization:
- is a tool used in planning that aims to support
1. Single Proprietorship
management or a business owner in its desire to
- A sole proprietorship also referred to as a
adjust and cope up with uncertainties of the future.
sole trader or a proprietorship, is an
REVENUE
unincorporated business that has one
- Is a result when sales exceed the cost to produce or
owner only.
render the services. Revenue is recognized when
- Sole proprietorships are easy to establish
earned, whether paid in cash or charged to the
and dismantle, due to lack of government
account of the customer.
involvement, making them popular with
Other terms related to revenue includes;
small business owners and contractors.
- Sales – used especially when the nature of the
2. Partnership
business is merchandising.
- By the contract of partnership two or more
- Service Income – used to record revenues earned
persons bind themselves to contribute
by rendering services.
money, property, or industry to a common
Mark-up
fund, with the intention of dividing the profits
- refers to the amount added to the cost to come up
among themselves.
with the selling price.
- Two or more persons may also form a
Formulas:
partnership for the exercise of a profession.
- Mark Up = COST x desired mark-up percentage
3. Corporation
- Selling Price = Cost + Markup
- Is an artificial being created by operation of
law, having the right of s ccession and the
powers, attributes, and properties expressly
authorized by law or incidental to its
existence.
4. Cooperative
- Cooperative is a legal business structure
that is owned and governed by, and
functions for, the benefit of those who use
its services. It is owned by those who work
for it, are served by it, or both.