CHUATIAMSING, Megan

DE GUZMAN, Carlos
GO, Shander
LABONITE, Stephanie

HOW TO SPOT FUTURE ENTREPRENEURS BY THEIR ECONOMIC INTUITIONS

SUMMARY PAPER 2

Is entrepreneurship a right course for me? This question seems to be frequently asked by students,
especially incoming senior high students and in this article, we will be talking about how we can spot
future entrepreneurs by their economic intuitions. There are three main points in other to detect
whether entrepreneur is the right course or not and that is Balance, Amplitude, Acceptance in different
perspective. Upon reading the article of Gerardo Larzoga, our group has come up some key concept of
the paper and have summarize the paper itself into three certain parts.

First, there is no shortage of motivation or self-belief for an entrepreneurial career among the youth.
This is the one of the points of Gerardo L. Larzoga that emphasizes on the availability of entrepreneurs
in our country. In our country, there are many people who wants to be a entrepreneur. However, only a
less of people succeeded in this field. Despite the availability of entrepreneurs, there are many people
that have failed and exited this field. Our group personally thinks that being a entrepreneur is difficult
because you must come up innovative ideas/products that will cater the market. Since, nowadays, many
innovative products have been discovered, it is hard to think of one already. Thus, this might be the
reasons why many people are quitting this industry. Moreover, the other point he have emphasized is
that being hopeful (Optimistic) is not merely enough to be an entrepreneur. One of the key points to
know if entrepreneur is the one is through balance. As an entrepreneur, they don’t just consider their
temporary wants, but they focus on the bigger picture. They weigh first on which will be in their long
run, which composes of the question, “If I chose entrepreneurship, will it make me satisfied?” As with
any undertaking requiring significant
sunk resources, it is worth separating the truly talented from the merely optimistic, and the apt from the
merely enthusiastic. (Largoza, 2016) With this said, one must be able to way out his plans in order to
attain the destination/vision he has for the business. This is the challenge of being an entrepreneur since
it will determine the capabilities of oneself. Hence, the key concept of this statement is that we must
work hard for the vision we have and merely hoping is not enough. Balance is the key.
 
One of his points in the paper states that the talent for being an entrepreneur can be developed during
the final years of high school. With this being said, aptitude should be the one to measure, not the
achievements. Lessons learned from Grade 10 entrepreneurship should not be the factor to be
measured. The thing that should be measured is the student’s talent, the talent that can improve or
develop over a period of time. In order to know if entrepreneur is a course for a person, amplitude skills
would play a vital role. Amplitude skill is a skill that can be used in situational problems which could be
enhance when young. Thus, this is
 
Another point he made is focused on the testing method. Majority of tests for entrepreneurship are
psychological. He says that it shouldn’t be like that since it also has to be analytical. Basically, it means
that these tests should include some sort of reasoning. Most questions on tests for entrepreneurial
aptitude is simply a response  on the question “what will I most likely do”. These type of questions is not
enough to determine a human’s entrepreneurial aptitude. What this point is basically about is that
psychological profiling is not enough for entrepreneurship since this is a course of study. Our group
agrees with his thoughts since being a entrepreneur is not measured by the knowledge rather through
the first hand skills of a person. Thus, the key concept of this statement is that being an entrepreneur is
not based purely on knowledge but in the capabilities of a person.
 
The author suggested that tests should have an economic background to it. He wanted to formulate
questions that would test the student’s intuition on how markets work and the importance of efficiency
for them which is somehow economic in nature. He stated that this test is a test of decisions. “It’s a test
of whether students would make economically sound decisions…” this is his idea on how to spot future
entrepreneurs through a simple test. For the two questions given by the author, our group have
answered them namely B for Q1 and A for Q2. This is because we think that being a talented
entrepreneur does not settle for less. He/she must not limit themselves and instead, they must find
other ways to allocate in order to attain the best results.

The last point is focused on theories. There are some people who think that theories are something that
can easily be solved or contrast to by the experiences alone. But according to Gerardo L. Largoza, the
wise learner consumes both theories and experience and the wise learners consume them properly. This
means that if you want to be a entrepreneur, you must look into more perspective such as the theories
and the experience. This test has taught the author and the readers that the best theories are also
eminently practical in our daily life.

In conclusion, Entrepreneur always come in hand with Economics. They are somehow interrelated.
Students always weigh which of the two would be practical and in economics, we don’t just look at one
perspective, instead we must look into more perspective in order to know which is must be properly
applied. Our group agrees that this article is economic-related since the traits of both entrepreneur and
economist are somehow alike. Moreover, these both acquire a trait of good allocation in attaining the
best results.
 
Furthermore, recommendation I can give for this paper is that he should’ve explored other occupations.
There are many jobs that can be measured by economic intuitions. Aside from entrepreneur. Although
the article is short but our group agrees that it is informative and ideas are portrayed well.