Chapter 2: DEVELOPMENT OF ENTREPRENEURSHIP

I. THE MAKING OF FILIPINO ENTREPRENEUR

1. The Making of Jollibee Foods Corporation
 The founder is not a true Filipino in strict sense of his origin. He has the Chinese blood which he inherited
his business acumen from his parents who knew how business should grow and prosper.
 He started with an ice cream stand and later made it into an outlet for chicken joy and other food items
that answer the Filipino taste buds especially for children.
 His success was based on his talent for innovation and finding a business that make him a multi-
millionaire.
2. The Foundation of National Bookstore
 The founder, Socorro Ramos, came from a poor family that sustained a living from selling various items to
support their basic needs. She was a working student while in high school and graduated with honors
because of her persistence and perseverance.
 After high school, she worked as clerk in Goodwill Bookstore owned by her brother where she learned the
rudiments of book business.
 Learning the hard way is not an easy task and starting a business empire of national magnitude with more
than 30 branches all throughout the country was a product of entrepreneurial acumen coupled with
determination and hard work.
 The Ramos couple expanded their business from their savings and other sources and bought the present
office of the store at Rizal Avenue in Sta. Cruz, Manila.
 They built a building complex
3. Leonardo Sarao, The Jeepney King
 Leonardo Sarao, the jeepney king, started the business by being a helper mechanic until he established his
repair shop from a meagre capital.
 He then started buying second hand parts and engines from Japan and built jeepneys.
 He established the jeepney factory with meagre capital and made savings to expand his operations.
 He ventured into other business activities and success was not based on his education but hard work and
determination.
II. CHALLENGES IN ENTREPRENEURSHIP
 The values and character of Juan Tamad has no place in the world of entrepreneurial vocabulary.
1. The new entrepreneur must be a doer and willing to work hard and long until he achieved the task, he wanted
for himself.
2. Personal attention and comprehensive awareness for the progress of the business is not trusted on other
people.
3. The new entrepreneur must have high sense of integrity that he stands firm on his principles and ideals.
4. Emotional stability is important factor in the making of an entrepreneur.
5. The built-in self – starting mechanism that drive entrepreneur to success is his executive ability to manage
people and resources.
III. THE STARTING POINT TO ENTREPRENEURIAL SUCCESS
1. Start to be on your own
2. Explore the business environment
3. Be in control
4. Have a good Accountant or a Trusted Financial Adviser
5. Seek the Advice of Professionals
IV. ENTREPRENEURIAL MANAGEMENT DEMAND
 Many successful entrepreneurs in the Philippines and those in the foreign countries are not the making of
known schools of management.
 Most entrepreneurs came from scratch and have acquired managerial expertise in making business empires
through shared hard work and dedication.

1. The entrepreneur is Alert to opportunities and Perceptive to make things happen.

2. The Entrepreneur has the Health and Endurance to Work Long Hours.
3. The Entrepreneur of Flexible and Adapts to Change.
4. The Entrepreneur is Self-Assured.
5. The Entrepreneur Seeks Other’s Opinion or Make Researches.

V. PROFILE OF SUCCESS ENTREPRENEUR

Most successful entrepreneurs are described to possess the following profile:
1. Has strong desire for independence
2. Develops strong drive to succeed
3. Has strong determination in decision making
4. Develops feedback mechanism for results
5. Result-driven individual
VI. MANAGERIAL SKILLS THAT MAKES SUCCESSFUL ENTREPRENEUR
The Entrepreneur has the following managerial skills:
1. The ability to plan and conceptualize.
2. The ability to organize the resources of the Enterprise.
3. The ability to direct and motivate people in his organization.
4. The ability to control.
5. The ability to manage time.
6. The ability to adapt to the changing environment of business.
Chapter 2 Quiz:
Test 1 – Write TRUE if the statement is correct and FALSE if the statement is wrong.
_______1. The entrepreneur must stay at the back seat of the enterprise and see things happened.
_______2. The entrepreneur is firm and should not be saddled with problems and uncertainties.
_______3. The values of our people are strong contributory factor in the attainment of economic prosperity.
_______4. All legal and financial matters must be handled singly and personally by the entrepreneur as he knows
best what to do.
_______5. Entrepreneurs are creator of things with difference as they are widely open to opportunities.

Test II – Identify the following.

a. High sense of integrity
b. Feedback and mechanism
c. Adaptability to change
d. Strong drive for independence
e. Emotional stability
f. Flexibility and adaptability
g. Be in control
h. Alert to opportunities
i. Time management
j. Ability to direct and motivate

_____1. The entrepreneur is in the driver’s seat of the business organization.

_____2. The entrepreneurs are impatient for results but remain to control his temper and feeling in times of
problem.
_____3. His word of wisdom is a contract to depend on and approaches alternative to various situation.
_____4. The entrepreneurs look at things kilometric ahead of other people and see things at different perspective.
_____5. The entrepreneur would not like to attach himself to employment as he assumes business responsibility
with pride and determination.
_____6. The entrepreneur is not a one-track mind as he crafts new alternative solutions.
_____7. He gets data and figures before making concrete and viable decisions.
_____8. People are like machines that needed oil or motivation to operate properly and effectively in the
performance of either assigned task.
_____9. The entrepreneurs are busy people and they have to attend to various activities.
_____10. Business is fast changing with the advent of computer and other electronic application.

Test III
1. Give at least three (3) Managerial skills that make successful entrepreneurs and explain in your own words.
(3 pts. Each)

a.
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b.
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c.
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