Entrepreneurship and Leadership

  Activity. Design a flyer presenting your product in a drawing software of your choice. This flyer will be graded under Creativity, Design, Organization, and Independent Thinking parameters.  Description of the business idea or project:  (Describe clearly and concisely what the business idea or venture consists of, what it will do, what it brings to the market, to whom it will be offered).

https://www.youtube.com/watch?v=fCbCE1n4IFE&ab_channel=CorporateFinanceInstitute  Accounting process: double-entry The accounting of financial transactions of a business is a process that seeks, as a final product, to generate information for decision making and financial control that the entrepreneur requires to keep the business going.   Accounting process The accounting process of the financial transactions of a business are divided in the following stages: -         Compilation of written documents that support the financial transaction  -         Transaction log according to time -         Classification of the transaction according to the accounts involved  -         Reporting information in the form of statements Every financial transaction makes an impact in one or more accounts that make part of the financial stateme...

https://www.youtube.com/watch?v=ReM1uqmVfP0&t=98s&ab_channel=Strategyzer  Canvas Model • How to apply it to your Business When you have a business idea, before putting it into practice, the first thing we must do is b uild a model that is useful to analyze the company that we intend to make a reality, in order to know if it is viable and evaluate its profitability. Something that can also be of importance if you have a company already operating. Traditionally, this has been a complex task that demands a lot of time and effort. In 2008 the Swiss Alexander Osterwalder published the book Business Model Generation based on his Doctoral Thesis work on Business Model Canvas, or simply Canvas Model. The method created by Osterwalder allows build a business model quickly and easily. The intention is help speed up the development of business initiatives, something that is very useful to face the changing dynamics that we find today in the different scenarios of globalized markets...

  Requirements for an entrepreneurship   https://www.youtube.com/watch?v=Bo1CX4yuv88&ab_channel=SmallBusinessBuilding In the process of describing an entrepreneurship, its necessary to realize in which type of entrepreneurial activity the business is placed. For this, it should be taken as classifying reference to macro-economic activities that tend to be carried out in the country – agriculture, industry and services – each one has its characteristics that the entrepreneur must know about. Each economic activity has its own specifications, so the entrepreneur must be aware of the characteristics that tend to govern, like basic and strategic requirements.    Basic Requirements  -         Design of the productive process according to the economic activity (step by step process) -         Consideration of the resources that the entrepreneurship needs for its operation (list of resources...

  1. Using the accounting equation, what is the owners equity if assets are 40,000 and liabilities are 25,000? a. 25,000 b. 15,000 2. Using the accounting equation, what are the liabilities if assets are 40,000 and owners equity is 20,000? a. 20,000 b. -20,000   3. Using the accounting equation, what are the assets if liabilities are 5,000 and owners equity is 6,000? a. 11,000 b. 1,000 4. Using the accounting equation, what is the owners equity if assets are 41,000 and liabilities are 6,000? a. 47,000 b. 35,000 5. Using the accounting equation, what are the liabilities if assets are 12,000 and owners equity is 7,000? a. 4,000 b. 5,000 6. Using the accounting equation, what are the assets if owners equity is 14,000 and liabilities are 20,000? a. 34,000 b. -34,000

https://www.youtube.com/watch?v=t15N3kdB0lI&t=45s&ab_channel=Edumecate  Geographical Zone    The geographical delimitation of the entrepreneurship is important to know the economic, political, social and cultural characteristics of the territory where the new business will work. These characteristics will help the entrepreneur to define the general strategy and business marketing.   Geographical Delimitations To have knowledge about the geographical zone where the entrepreneur will establish the new business leads to understanding the characteristics of the business environment. These are external conditions of change, driven by technological, economic, social, natural, institutional and political forces. If these forces are studied well, they will provide key information at the moment of decision making.   Territorial Economic Variables:  Whether the market is in the national or international territory, the entrepreneur must be aware of what happen...

https://www.youtube.com/watch?v=Coe0N2xb8kk&ab_channel=VelactionVideos  Gathering of Research Data  Main role of an entrepreneur -         The entrepreneur must prepare a plan that will help to collect the data to prove that the objectives of the research were accomplished. -         The entrepreneur must have good team working skills for the gathering of research data because it is most likely that the entrepreneur must work in a team. -         For an entrepreneurship project, that usually has low budget, the best idea is to have friends or family be part of the research team. Information Gathering Priority should be given to capturing data related to qualitative and quantitative research. -         Qualitative research : To provide knowledge and understanding about the problem being the object of the research. The quality of the inf...

  Classwork Select the correct answer 1. A business pays a supplier 100 in cash, which account does it credit? Accounts payable Cash 2. A business buys new plant and machinery from a supplier who gives 30 days credit. Which account should the business debit? Fixed assets Cash 3. Goods are bought on credit for 300, is the entry to the purchases account a debit or a credit? Debit Credit 4. Cash is introduced to a business by the owner as equity. Which account does the credit entry go to? Loan account Capital account 5. A friend of the owner lends the business 1,000. Which account is credit entry made to? Cash Loans 6.A customer pays a sales invoice for 500 in cash, what entry is made to the sales ledger (accounts receivable) control? Credit Debit  7. A supplier returns goods to the business and a credit note is issued, what entry is made on the creditor (accounts payable) control. Credit Debit 8. Are fixtures and fittings assets or liabilities? Assets Liabilities 9. The business...

  https://www.youtube.com/watch?v=8--RT90QEc4&ab_channel=CharlesSturtUniversityLibrary Source of information -         Primary Resources: Gathering of information made by a researcher -         Secondary Resources: Information and data available to the entrepreneur Techniques to gather information -         Survey:  It is the most used, a series of questions given to a group of people to be filled out individually. It can be done in person, by email, by phone and over the internet. They are usually multiple-choice questions. -         Interview:  It implies having a dialogue with a person, making questions to discover the motivation, beliefs, attitudes and the feelings towards a product and a business. For this technique to work, you must establish a good relationship with the interviewee. -       ...

https://www.youtube.com/watch?v=2C-2v99paQM&ab_channel=InfoteamConsulting  Customers or Beneficiaries To have clients or beneficiaries identified and characterized according to the product. That’s why the entrepreneur must keep in mind the information collected from the consumer profile. From this point, there’s an obligation to make a consumer profile matrix that will show the entrepreneur’s strategy.   Consumer Profile Matrix The entrepreneur must be familiar with characteristics with the people that, when the business starts, will spend their income on the good or services offered by the entrepreneur. To help understand and systematize the relationship of the consumer profile, their unsatisfied needs and the product as the solution, it is recommended to elaborate a descriptive matrix. In the matrix there must be arguments that will support the strategy knowledge that must be present in all the decisions taken by the entrepreneur.   Descriptive Characteristics of th...

  Why is accounting important? o     It’s important that the entrepreneur knows about the financial aspect of the entrepreneurship. The accounting process starts with the documentary support that must be present at the moment of generating a determined financial transaction. This ends with the generation of periodic reports or summaries called balance sheets or financial statements. ·        Running an entrepreneurship o     There needs to be an owner or manager that in the process of decision making and business control, they use the capture, processing, reporting and analysis of data transformed into information. This will allow them to identify signs related to what is happening inside and out of the entrepreneurship. o     Accounting is an administrative tool oriented towards the generation of useful information to know about the evolution of the inner financial state of the business created. ·  ...