A QUALITATIVE INQUIRY ON STUDENT ENTREPRENEURS AND THEIR

MANAGEMENT PRACTICES

A Qualitative Research

Presented to the Faculty of Ateneo de Davao University Senior High School

In partial fulfillment of the requirements in

PRACTICAL RESEARCH 1

Yumilcka Rafhaella M. Beluan

Kristine Alyssa B. Morales

Rebekah C. Sumampong

Katrina Jesrene C.Datoy

Giazaica M. Salvador

Vincent Roi A. Japay

Faisal L.Dampac

Grade 12- Anchieta

Frances Elaine Palou, LPT

Research Adviser

October 2018

i
 ATENEO de DAVAO UNIVERSITY
SENIOR HIGH SCHOOL
Jacinto St., Davao City, Philippines

APPROVAL SHEET

In Partial Fulfillment of the requirements for the course subject Practical Research 1
under Accountancy, Business and Management, this study is entitled:

A QUALITATIVE INQUIRY ON STUDENT ENTREPRENEURS

AND THEIR MANAGEMENT PRACTICES

Has been prepared and submitted by BELUAN, DAMPAC, DATOY, JAPAY,

MORALES, SALVADOR, and SUMAMPONG who are recommended for the
CULMINATING PERFORMANCE TASK.

Francesca Elaine Palou

Research Adviser

APPROVED in partial fulfillment of the requirements for the course subject Practical
Research 1, under Accountancy, Business and Management, by the Office of the Chair.

Aimee Bisnon
Chairperson – Accountancy, Business and Management

ACCEPTED in partial fulfillment of the requirements for the subject Practical Research
2 and Applied Inquiries and Investigations.

October 19, 2018 __________________________

Date Ms. Aujefel Amor Y. Lee
Assistant Director for Academics
Senior High School Unit

ii
 ATENEO de DAVAO UNIVERSITY
SENIOR HIGH SCHOOL UNIT
Jacinto St., Davao City, Philippines

Declaration of Originality

We, BELUAN, DAMPAC, DATOY, JAPAY, MORALES, SALVADOR,

SUMAMPONG declare that this research is original to the best of our knowledge. We
declare further that this activity was undertaken by us.

Beluan, Yumilcka Rafhaella M.

Dampac, Faisal L.

Datoy, Katrina Jesrene C.

Japay, Vincent Roi A.

Morales, Kristine Alyssa B.

Salvador, Giazaica M.

Sumampong, Rebekah C,

Researchers

October 10, 2018

Date Signed

iii
 ACKNOWLEDGEMENT

This research paper would have been utterly impossible if not for the help and

support of the people around us. With that, we would like to express our warmest

gratitude to the following:

To our Almighty Father, for giving us strength and good health while doing this

study.

To Ms. Francis Elaine Palou, our Practical Research teacher, who despite her

busy schedule, has imparted us with sufficient knowledge that aided us to complete this

study. Her feedback and advice for every chapter encouraged us to do and make our

tasks better. With that, we would like to express our sincerest gratitude, there is no

doubt that without her assistance, encouragement, and guidance, we would not have

fully understood and finished this study.

To our respective parents, for the unconditional support they have given us which

drove us to do the tasks with determination. They have been our constant source of

inspiration to complete this study with their unwavering understanding as we gave our

best efforts to complete this research.

To Grade 12 – Anchieta, our classmates, for the support and understanding that

they have given our group, by helping us gather all the data necessary for the

completion of this study.

To those who were not mentioned, but in some ways, provided us with the help

we needed, thank you so much.

The Researchers

iv
 DEDICATION

This study is dedicated to the following:

Our family,

Friends

Grade 12 – Anchieta S.Y. 2018-2019,

And
The Almighty Father

“What we work on today, others will first think of tomorrow.”

- Alan Perlis

v
 ABSTRACT

This study identified the different management practices and strategies of

student entrepreneurs on running their business as well as handling the varying factors

that they encounter from time to time. The challenges and coping practices of student

entrepreneurs were also highlighted in this study. This research was conducted to

identify and to analyze the different skill-related dimensions and practices of student

entrepreneurs among the SHS and college students of Ateneo de Davao University.

Through qualitative inquiry, this study followed the phenomenological design by

gathering information on the lived experiences of seven student entrepreneurs from the

senior high school and college unit of Ateneo de Davao University. Through this study,

we found out that student entrepreneurs manage their business by prioritizing it over

other activities in their lives, by proper allocation of income and through role models that

influence their management practices as they run their business. We also learned that

student entrepreneurs have different strategies on running their business such as

considering varying external factors, committing to actions to improve their business

rather than being passive, and having proper estimation of the necessary products that

will be sold for a specific period. However, student entrepreneurs are still being

challenged with proper balance between school and their business venture.

Nevertheless, student entrepreneurs cope up with these challenges by making it as

their motivation to further improve their products and by responding positively to the

criticisms that they receive.

vi
Keywords: Ateneo de Davao University, Senior High School students, College students,

student entrepreneurs, management practices, thematic analysis, qualitative research,

phenomenological study

vii
 TABLE OF CONTENTS

Page
Title Page ………………………………………………………………….......... i
Approval Sheet …………………………………………………………………. ii
Declaration of Originality ………….. iii

……………………………………………
Acknowledgement …………………………………………..………………… iv
Dedication ……………………………………………………………………… v
Abstract ………………………………………………………………................ vi
Table of Contents ………………………………………………………………. viii
CHAPTER
1 Introduction

Theoretical Lens ……………………………………………….................. 3

Research Questions ……………………………………………………... 4
Scope and Delimitation …………………….……………………………. 4
Significance of the Study ………………………………………………… 6
Definition of Terms …………………………………………………..... 6
2 Review of Related Literature 8
3 METHODS
Research Design ………………………………………................... 22
Research Participants ……………………………………………… 23
Role of the Researcher ……………………………………………… 24
Data Source …………………………………………………………. 24
Data Collection ……………………………………………………… 25
Data Analysis ………………………………………………………… 26
Trustworthiness of the Study ………………………………………. 27
Ethical Consideration ………………………………………………. 29

4 PRESENTATION OF RESULTS

viii
 The management practices of student entrepreneurs………….. 31

The strategies of student entrepreneurs…………………………. 38

The challenges faced by student entrepreneurs………………… 43

5 DISCUSSION AND IMPLICATIONS

The management practices of student entrepreneurs ………….. 49

The strategies of student entrepreneurs………………………….. 51

The challenges faced by student entrepreneurs …………………. 53

Concluding Remarks………………………………………………… 58

REFERENCES …………………………………………………………..……. 60

APPENDICES

A- Permission Letter to the Office of the Assistant Director for 67

Academics ……………………….

B- Informed Consent for the Participants ………………………. 68

C- Interview Guide ………………………………………………… 75

CURRICULUM VITAE …………………………………………………. 77

ix
 CHAPTER 1

INTRODUCTION

Through the years, the emergence of young student entrepreneurs all around the

world is not anymore surprising. Student entrepreneurs are students using “classrooms

and labs as platforms, resources, and subsidies to construct marketable products,

processes, or services” (Mars, Slaughter, & Rhoades, 2008 cited in Hermens &

Marchand, 2015). They are everywhere and can be found in any school under different

institutions, a fact supported by Santander University UK (n.d., cited in O'Neill, 2015),

which revealed that twenty-four percent of university students run a business venture of

some sort. In addition, these student entrepreneur’s propensity to start a business is

influenced by different contexts. One good example are student entrepreneurs whose

families have business backgrounds.

A survey conducted by Sieger, Fueglistaller, & Zellweger (2016) shows that 17.5%

among the students from different countries engaged in business activities have parents

who are self-employed or own a private business. Furthermore, Sieger et al. (2016) also

recognized the influences student entrepreneurs acquire in the university context. The

survey states that “the more intensive the students’ involvement in entrepreneurial

activities and offerings are, the stronger their entrepreneurial intentions are.” Therefore,

continuous interaction and involvement with related activities may also influence an

ordinary student’s entrepreneurial interest.

In the Philippines, around 45 percent of those engaged in early stage

entrepreneurship belong to the group of 18-34 years old, with high school graduates

dominating the start-up phase (Reyes, 2015). In addition, various well-known and

1
successful business establishments in the country are owned by individuals who started

their business when they were in their early 20’s, with some starting at the age of 17,

without necessarily having specific entrepreneurial backgrounds (Concepcion, 2011).

Correspondingly, Malolos (2017) states that not all successful entrepreneurs have

entrepreneurship or business degrees. Oftentimes, these individuals have inherent

entrepreneurial skills which they hone overtime to propel their business to success.

Factors such as leadership skills, creativity and problem-solving skills contribute

effectively to a students’ entrepreneurial capabilities (Ramos, 2014).

Ateneo de Davao University, a school known for producing excellent business-

inclined individuals, is not an exception to this trend. We, the researchers, transact with

these student entrepreneurs on a daily basis and as a result, they have become the

subject of interest for this particular study. As students ourselves, we know how

stressful it is to manage academics alone. Hence, this reality of student life has made

us question how these particular student entrepreneurs balance their business and

personal lives. Management is defined as the judicious use of means to accomplish an

end (Merriam-Webster.com, 2018). Thus, it is this study’s purpose to investigate the

practices that student entrepreneurs from Ateneo de Davao University do to control and

coordinate their resources productively.

In line with this, we would also like to investigate the various aspects that student

entrepreneurs consider to effectively manage their business and other activities.

Through qualitative inquiry, we will gather all the necessary information, particularly on

the student entrepreneurs’ time management, resource management, and customer

management, as well as the difficulties they face and how they overcome such

2
challenges. In addition, we also aim to inquire on the management skills and techniques

of student entrepreneurs who have no entrepreneurial backgrounds, such as students

belonging to other strands other than Accountancy, Business and Management. We,

the researchers, hope that the information gathered from this study will create an impact

on our lives not just in terms of business but also in other aspects.

Theoretical Lens

This study is anchored on the theory of entrepreneurial behavior. Entrepreneurial

resources are tangible and intangible assets directly used and mobilized by

entrepreneurs in the process of business. These resources are broad and are

comprised of significant and diverse amount of resources. It is stated that with efficient

resource management, decision makers should be able to recognize and address

important scarce resources as well as correct potential market failures (Business

Dictionary, n.d.; Hutterer, Pilz, Stark, and Steiner, 2000). In creating a sustainable

business venture, the successful acquisition and management of resources plays a very

essential role. Consequently, on entrepreneurial behavior, "the more time and efforts

one devotes toward accomplishing a task, the more likely it is that the achievement of

this task will occur" (Gatewood, et al., 1995, as cited in Morris, Shirokova, and

Tsukanova, 2017; Hulsink and Koek, 2014, as cited in Morris, Shirokova, and

Tsukanova, 2017). If one concentrates his efforts to a specific task, for example, in

effective management, there will be a high chance that effective management will

contribute positively to his planned goals and objectives.

3
 These theories and concepts are relevant to this study because we have chosen

to focus on management skills as they are an integral aspect to consider in running a

business as well as balancing their student and entrepreneurship lives. These theories

support the fact that resource mobilization has a significant effect to entrepreneurial

performance. Relating the theories to the context of student entrepreneurs, it can be

said that the students' management skills would directly affect their performance. Their

management skills with regards to time, money, as well as other resources should be

given utmost consideration to achieve their objectives successfully. Hence, these

theories lend credibility to the research questions because they establish the relevance

of the research questions to the aim of the study.

Research Questions

This study aimed to find answers to the following questions:

I. What are the management practices of student entrepreneurs?

II. What strategies do student entrepreneurs do to effectively manage their

business?

III. What are challenges faced by student entrepreneurs?

Significance of the Study

We aim to create the following impacts on the institutions stated below through

this study:

Students. This study aims to serve as a means to aid aspiring student

entrepreneurs in deepening their understanding of the processes and

4
considerations that take place in managing a business. In addition, this study can

become a source of additional information for already existing student

entrepreneurs regarding a more effective management for their time and

finances. This study can also make students aware of the existing struggles that

student entrepreneurs encounter day to day. Lastly, the content of this study is

not limited for student entrepreneurs alone; it is also intended for ordinary

students to use as a guide in developing their own patterns of managing other

aspects in life.

Teachers. This study seeks to serve as a concrete example that teachers of

business-related subjects can use for a more effective portrayal of lectures and

lessons within the course. This study can also be a bridge between student

entrepreneurs and their teachers which can result to a deeper understanding of

one another.

School. This research may encourage schools to be more aware of existing

student entrepreneurs, thus, they can choose to provide sufficient support like

creating a more student entrepreneur-friendly environment and holding different

events that can be used as a stepping stone for students to sell their products.

Furthermore, this study can also deepen the administration of a certain school to

broaden their knowledge on the demands of the business world to young

entrepreneurs. This can lead to the possibility of universities, colleges and even

high schools to offer more entrepreneur-related subjects to courses that do not

specialize on business.

5
 Future Researchers. This study can be an aid for future studies in terms of

providing existing themes and trends among student entrepreneurs. The

researchers are hoping that this study can provide enough information in such a

way that future researchers can gather the necessary contents, such as the

analysis and patterns, needed for their own studies. The researchers also hope

that the references used in this study can be a way for future researchers to

discover a wider scope of references for their own researches.

Scope and Delimitation

This study was conducted in Ateneo de Davao University, involving 7 participants

from the senior high school and college students. The type of sampling used was

purposive sampling. Furthermore, we utilized the outline of a semi-structured interview.

This allowed us to ask follow-up questions which were not part of the prepared outline

for a more effective data gathering. The questions were limited only to the student

entrepreneurs’ management practices as this study has no intention to delve deeper

into a student entrepreneur’s emotional conflicts. Furthermore, this study was done

under 4 months, given that the time was enough for us to gather information and

analyze the data collected.

Definition of Terms

This study utilized the following definitions for the succeeding words:

Student entrepreneurs. Students engaged in business related activities such as

selling products and providing services in exchange for money.

6
 Business. The activity of selling goods and services in exchange for money.

Organizing. To arrange things and events through a systematic planning to

make all of it work together.

Management. The act of controlling one’s resources to effectively serve one’s

own benefits.

Practices. An activity that a person does repeatedly which eventually becomes

their continued habit, aiding to become better at such activity.

Strategy. A method done carefully to attain a certain goal.

7
 REVIEW OF RELATED LITERATURE

The review of related literature for this study focused primarily on the essential

time and resource management abilities, strategies utilized, and challenges faced by

the student entrepreneurs in Ateneo de Davao University. Different factors were

considered with how the student entrepreneurs handle daily tasks in their

entrepreneurial, academic, and personal lives. Furthermore, this chapter will include

both international and national studies. We, the researchers, believe that the literature

presented in this chapter are directly related to the topics on time and resource

management, strategies and techniques as well as the challenges encountered by

student entrepreneurs. Thus, providing a more reliable and concrete data of how the

student entrepreneurs maintain a balance with the different factors at hand.

Student Entrepreneurship

Before, the term 'Student Entrepreneurship' has been used exclusively for

students who are enrolled in entrepreneurship courses. However, due to the gradual

emergence of students who engage in business activities throughout the years, the

word took on a multitude of new meanings (Marchand, Hermens, and Sood, 2016).

Entrepreneurship as a whole is defined as a skill to start new businesses and the ability

to see and utilize new opportunities (Cambridge Dictionary, n.d.). Relating this to

student entrepreneurs, student entrepreneurs are not just students who attend

entrepreneurial classes; they are also students who conduct "innovative and revenue-

generating entrepreneurial activities" on campus or near the school premises while at

the same time attending formal classes (Marchand, et al. (2016). Another meaning of

"student entrepreneur" as stated by Bailetti (2011) is the usage of university knowledge

8
to recognize different opportunities and develop, launch, and operate new ventures to

exploit them. To put it simply, student entrepreneurs take advantage of their school

environment to effectively position their business.

Management

Management is the organization and the coordination of the activities of business

for the achievement of the desired objectives. It is often included as a factor of

production along with machines, materials, and money (Management, n.d.). In the

context of student entrepreneurship in this study, the researchers will look into the

aspects of the students' experiences in resource management, financial management,

and time management.

According to the Association for Project Management (n.d.), resource

management is the acquisition and utilization of resources required to deliver work.

These resources include people, materials, technology, property and anything else

essential for work. On the other hand, financial management is managing the monetary

possessions of an enterprise. It is the proper planning, organizing, controlling, and

monitoring of financial resources for achieving goals and objectives. Examples of this

are the obtainment of funds, the utilization of funds, and other money-related activities

(What is financial management, n.d.). Lastly, time management is the ability to plan and

control how to use the hours of the day efficiently to accomplish one's tasks. This type

of management involves planning the things to be done, setting goals, prioritizing

duties, and taking into account where people spent their time on (Time management

skills, n.d.).

9
 These management skills are significant in the lives of student entrepreneurs as

these things help them run their businesses and manage their personal lives effectively.

Business skills and experiences influence entrepreneurship positively given the fact that

entrepreneurship requires exceptional management skills to flourish. In relation with

this, findings from a particular study established that entrepreneurs in the United

Kingdom suffer more from the lack of management skills than financial constraints

(Organisation for Economic Co-operation and Development [OCED], 2010, as cited in

World Bank & Organisation for Economic Co-operation and Development, n.d.). Even if

an entrepreneur gets access to resources, they would not be utilized effectively if the

person lacks the necessary management skills.

Management skills

In the modern times, entrepreneurship poses as a significant career option

because it allows an individual to enjoy independence, improve multiple skills, and

acquire income. For students, engaging in entrepreneurial activities while studying is a

means for them to develop various skills as they continuously involve themselves in the

events of their business. A study conducted by Ghorbani et al. (2012, as cited in

Anumnu, n.d.), confirms the existence of such. Therefore, an individual’s existing

knowledge can help them run their business and in return, allowing them to develop

their entrepreneurial skills. In the context of a student, the knowledge that they acquire

from school is often the foundation that they have in developing their own set of

entrepreneurial skills, which consists of management skills that are necessary for their

business.

10
 Student entrepreneurship in the Philippines is very common. In the context of

the Philippines, one can observe that Filipinos are highly engaged in entrepreneurial

activities. Skills that student entrepreneurs acquire while studying are more effective

because they can immediately put into action the things that they have learned in class.

A study conducted by Malolos (2017) states that important entrepreneurial skills can be

obtained while the students are still studying. This implies that the entrepreneurial skills

of a business-inclined individual can be acquired while they are attaining a degree in the

university.

Additionally, student entrepreneurs face the challenge of balancing school

activities and being an entrepreneur, which is difficult. That is why one must have

proficiency in management. In line with this, management skill or managerial skill is the

ability to make decisions, understand concepts, develop ideas, and implement

strategies (Managerial skill, n.d.). Agarwal (2016) lists the necessary set of managerial

skills an entrepreneur must possess. This skills include the ability to utilize limited

resources effectively, ensure effective leadership, secure a safe and healthy

environment to work in, ensure simultaneous operation of industries, create strategies

to achieve business goals, accept opportunities to boost one’s skills, use one’s

knowledge to maximize productivity and regulate competition in the market. The skills

mentioned are skills that are expected to be exemplified by any entrepreneur. Moreover,

Agarwal (2016) adds that to be able to carry out effective management, one must also

be passionate and have a vibrant-personality, ready-to-go attitude, be able to reflect

upon oneself, show flexibility, relies on one’s belief, can manage money properly and

has an extensive network of connections.

11
 Furthermore, according to Dinkel (2011), prioritizing helps a person identify the

most important task and guide to move closer towards their goals. Prioritizing is also

one effective way to make sure that deadlines are met without having to handle so

much stress. Entrepreneurs often fail at effective prioritizing because they do not see

the bigger picture, the end goal of their actions (Johnson, 2015). An entrepreneur’s

decisions must contribute to the achievement of his/her goals for his/her business.

Furthermore, a study conducted by McQueary (n.d.) states that being an

entrepreneur means you are your own manager and an entrepreneur should be able to

effectively manage people, budget, operations, and in some instances, investors. In line

with this, McQueerey (n.d) also stated that a successful entrepreneur must know how to

use his time efficiently and prioritize his tasks in order of relevance and importance. A

student entrepreneur must know what to prioritize and determine what is more important

in order not to overlook small problems.

In addition, according to Drennan, Kennedy, Renfrow, and Watson (2016),

students with role models found themselves thinking that creating a business is more

probable as opposed to students without role models. These role models may also refer

to the people who have influenced the management practices of student entrepreneurs

as well as the people who might have influenced them to start a business.

Strategies

In establishing one’s own business as a student entrepreneur, one will face many

obstacles. Being a student and an entrepreneur at the same time is challenging since

one must balance their studies, business, and their personal lives. Granted that, the

journey trekked by a student entrepreneur is one that is faced by challenges that

12
requires different strategies and techniques to overcome such difficulty.  Even though it

may be difficult and tough for student entrepreneurs to stay motivated and inspired, one

should always keep in mind that they should remember their vision and stay on course.

Hence, a student entrepreneur should develop a list of strategies to manage his/her

own business properly. A strategy is a method devised to achieve success (Strategy,

n.d.).

According to Zent (2013), there are five notable lessons that best served her

along her entrepreneurial journey. One must keep in mind that the lesson an individual

learns overtime are the foundation of the strategies that he/she eventually uses

throughout his/her life. The first lesson that served her as an entrepreneur, that can be

applied by any entrepreneur in his/her endeavor, is to stay focused. A student

entrepreneur is still a young, amateur and unseasoned businessman, which means that

they have high tendencies to be indecisive and can frequently change their mind in

planning and running their business. When starting a new venture, the most important

thing an entrepreneur must remember is to focus and be consistent in their end goal.

However, this does not mean that an entrepreneur will close his/her doors permanently

for the possibility of adapting to the various changes that his/her business will

encounter. An entrepreneur’s goal should not be compromised by the changes that

occur among the business’s internal and external environment. Adapting to one’s

surroundings should be acknowledged, but one must keep in mind that adaptation does

not mean total demolition of one’s original goal.

Furthermore, the second lesson that every entrepreneur must practice is the

ability and power to build the right team. Zent (2013) believes that the most important

13
experience she encountered was working with people she trusts. In like manner, the

third lesson is not to be afraid of change. "There are many roads that can lead to the

same destination,” Zent (2013) states. “So stay flexible." Flexibility is critical in handling

business for being flexible means having the ability to adapt with ease to different

scenarios. Such a concept may be connected to one’s ability to manage a business

properly. Being able to handle a business effectively does not only focus on the

entrepreneur’s activities as a businessman but also recognizing the reality that he is a

human and has personal matters to attend. Effective business management can be

achieved when an entrepreneur executes proper coordination of his business life and

personal life.

Moreover, the fourth lesson that is also helpful in establishing your own business

is to ensure the right funding. Correspondingly, proper funding and resources are crucial

in starting a business. Funding is necessary for the survival of developing a new

venture. It also a key strategy for an entrepreneur to know the precise amount he needs

to start his business. Whisenhunt (n.d., as cited in Concepcion, 2011) emphasizes that

young entrepreneurs, like student entrepreneurs, should learn how to start small. She

states that a new entrepreneur must start from the bottom to the top and not the other

way around. Such a technique mentioned by Whisenhunt involves doing activities for

your business step by step so as not to put everything you have at hand on high risk.

This technique is very much applicable to student entrepreneurs who often have very

idealistic concepts. They must understand the importance of knowing what to do and

what not to do.

14
 Finally, the fifth and last lesson is for an entrepreneur to believe in their

capabilities. Zent (2013) asserts that an entrepreneur should stay positive even though

they face tough situations. There are ups and downs in owning a business, and it is

inevitable. Entrepreneurs should believe in their vision. One should not be afraid of

failure for it is only one of many obstacles an entrepreneur will face on their way to

success.

On the other hand, an entrepreneur must have a set of goals with specific

objectives. Objectives additionally give you a system inside on which to work. This

tends to center your endeavors by helping you decide out activities that won't add to

accomplishing the objectives you've set. The factors to consider in defining your

objectives is income, lifestyle, sort of work, and inner self-gratification (Goal Setting

Definition - Entrepreneur Small Business Encyclopedia, 2018).

Just like any entrepreneur, student entrepreneurs also gather their business

ideas from external factors. The most common idea source for business originates from

customers - listening to customers. That is something we should do ceaselessly, with a

specific end goal to comprehend what customers need, where they need it, how they

need it, when they need it, and at what cost (How Entrepreneurs Identify New Business

Opportunities, 2018).

Proper time management is also an important feat for any student entrepreneur.

Learning to take good control of your time can improve your ability to focus on things,

and with increased focus comes enhanced efficiency to do the tasks needed to be

done, because you don’t lose momentum. It also stated that good time management

skills can help you accumulate extra time (Appointment Plus, 2018). Having extra time

15
leads to be engaged in proactive behavior, opportunities and originating action that can

be a great way to solve problems and initiate actions to lessen the burden and

workloads of the student entrepreneur. It helps to produce imaginative or unique

response to a problem. (University of Nottingham, 2016) The student entrepreneur can

find accurate and corrective actions that befits the situation instead of rushing the

process and not do anything about it.

People often preconceive that an individual can start a business when he or she

graduates, but the students of this generation prove this stigma wrong (Ji, 2017). Lots of

student nowadays start up either manage small or large businesses and doing this while

also accomplishing tasks as a student is really challenging on their part. Selecting the

right manufacturer/ maker is saving a student entrepreneur from a tremendous amount

of headache (Christopher Hann, 2012).

Challenges

Entrepreneurs are expected to face a lot of challenges in the corporate world;

this implies a tough challenge if the entrepreneur is a student, who is getting a degree in

the university while managing his own business with no entrepreneurial experiences.

According to Venturewell (2016), there are five challenges faced by student

entrepreneurs based on the students they’ve interviewed during their Venture

Development Training in Cambridge, Massachusetts. One of these challenges includes

balancing school with a venture. Owning and managing a business is already a time-

intensive job, so trying to balance the three aspects of one’s life, his/her business,

school, and personal activities, is a major challenge for a student entrepreneur.

Students find themselves trying to please their customers while trying to get good marks

16
at school but according to a dissertation written by Blajin (n.d), this is the cost that

student entrepreneurs take upon themselves to convert an opportunity or idea into a

profitable business. Furthermore, Venturewell (2016) also establishes that getting funds

or capital is also one of the challenges faced by student entrepreneurs since they are

still finding their way to make and earn money from their hard work.

Yates (n.d, as cited in George, 2011), stated in an interview that students

venturing into the entrepreneurial world battle with fear: fear of failing, fear of losing

money invested, and fear of being embarrassed. Also, Blajin (n.d) points out that people

tend to care about what other people think about them which also applies to student

entrepreneurs as they are humans too. He stresses that entrepreneurs fear to give it a

shot because of the feedback they might get and to some extent, failing at something

may affect the student psychologically as he/she could think that they do not possess

the skills required to be successful. Yates (n.d, as cited in George, 2011) also

mentioned that even if students can battle this initial fear and decide to push through

with their ideas, certain businesses require financial assistance to get started. With no

financial aid, many students tend to quit their business plans even before they take the

first step. To make matters more complicated, student entrepreneurs often have

conflicted decisions between their business plans and their student life. This because

trying to run a small business while completing assignments and studying for exams

entails real perseverance and determination (Yates, n.d. as cited by George, 2011).

Being a student entrepreneur is not easy, thus it is important for any

entrepreneur to stay motivated. Every person will have to face struggles and challenges

and they may use these as a motivation to improve. According to Kirkwood (2009) and

17
Charles and Gherman (2013), as cited in Fatoki (2014), motivations can be classified

under push and pull factors. Pull factors are those that influence that pull people

towards entrepreneurship and push factors are those that characterized by personal or

external factors. Pull factors are those motivators related to opportunity and superior

needs. These include independence, personal growth, self-fulfillment, and social status.

According to Sugiarto, Samtani, Amaris, Kumar (2014) there are five problems

that student encounter during their entrepreneurship projects. These five problems that

students face in their business are financial problems, management problems,

marketing problems, production problems, and technology problems.

In addition, a student entrepreneur may encounter various criticisms throughout

the course of his/her venture. According to Eric Gordon (2017), as an entrepreneur

builds his/her brand, he/she should ensure that to put the customers first, offering them

with them quality products and ventures that make them unique compared to their

competitors. An entrepreneur should welcome all complaints and comments and do all

the necessary actions to response to them. However, an entrepreneur should see

criticism as an opportunity to improve. It will give the entrepreneur a chance to evaluate

their ways and be creative in creating new approaches to respond to the criticisms. An

entrepreneur should be able to use the feedback to adjust and develop their business

(Goodman, 2012).

Synthesis

The related studies presented in this chapter consisted mainly of time and

resource management abilities, strategies and techniques used, the challenges faced

by student entrepreneurs. This chapter started by giving definitions of the two significant

18
key terms of this study. Student entrepreneurship is defined based on the basic

definition of entrepreneurship provided by Cambridge dictionary stating that it is a skill to

start a business and the ability to utilize and recognize new opportunities. Additionally,

student entrepreneurship is also described by Bailetti (2011) as the usage of university

knowledge to identify different opportunities and develop and operate new ventures to

exploit them. To put it directly, student entrepreneurs take advantage of their school

environment to position their business effectively.

On the other hand, management is the organization and the coordination of the

activities of business for the achievement of the desired objectives (Management, n.d.).

In this chapter, we, the researchers, recognized three types of management that are

within the scope of the study namely; resource management, financial management and

time management. First, resource management is the acquisition and utilization of

resources required to deliver the work to be done (Association for Project Management,

n.d.). Second, financial management is managing the monetary possessions of an

enterprise. It is the proper planning, organizing, controlling, and monitoring of financial

resources for achieving goals and objectives (What is financial management, n.d.).

Finally, time management is the ability to plan and control how to use the hours of the

day to accomplish one's tasks efficiently (Time management skills, n.d.).

The related studies of this chapter are focused on presenting studies that can

provide answers and findings that are close to the possible solutions to the research

questions of this study.

First, we looked into the management practices of the student entrepreneurs. A

study conducted by Anumnu (n.d.) states that an individual’s existing knowledge can

19
help them develop entrepreneurial skills which consist of management skills. For

students, engaging in entrepreneurial activities while studying is a means for them to

develop various skills as they continuously involve themselves in the events of their

business. Additionally, a study conducted by Malolos (2017) states that the importance

for entrepreneurs to have the needed skills must be done while the students are still

studying. It implies that the entrepreneurial skills of a business-inclined individual can be

acquired while they are attaining a degree in the university. Moreover, Agarwal (2016)

asserts that to be able to manage one’s business effectively, entrepreneurs must not

only possess the necessary management skills but also should embody characteristics

to express passion for one’s business endeavors. McQueary (n.d) also stated that a

successful entrepreneur must be able to make wise decisions about how he uses his

time, continually evaluating and prioritizing tasks according to relevance and

importance.

Second, we also looked into the strategies that student entrepreneurs utilize to

run their business. According to Zent (2013), there are five lessons that best served her

along her entrepreneurial journey which can simply become a pattern for student

entrepreneurs to create their strategies and techniques. These lessons are namely;

staying focused, building the right team, embracing change, ensuring proper funding

and believing in one’s self.

Third, we looked into the challenges that student entrepreneurs face. According

to Venturewell (2016), there are five important challenges faced by student

entrepreneurs based on the students they’ve interviewed during their Venture

Development Training in Cambridge, Massachusetts. One of these challenges includes

20
balancing school with a venture. Owning and managing a business is already a time-

intensive job, so stabilizing the three aspects of one’s life, his/her business, school, and

personal activities, is a big challenge for a student entrepreneur. Also, Venturewell

(2016) also establishes that getting funds or capital is also one of the challenges faced

by student entrepreneurs since they are still finding their way to make and earn money

from their hard work. Moreover, Yates (n.d, as cited in George, 2011), stated in an

interview that students venturing into the entrepreneurial world battle with fear: fear of

failing, fear of losing money invested, and fear of being embarrassed. Also, Blazin (n.d)

points out that people tend to care about what other people think about them which also

applies to student entrepreneurs as they are humans too. Finally, Sugiarto, Samtani,

Amaris, Kumar (2014) presents five problems that student encounter during their

entrepreneurship projects. These five problems that students face in their business are

financial problems, management problems, marketing problems, production problems,

and technology problems.

In conclusion, the researchers, have noticed that the studies conducted

regarding the management skills of student entrepreneurs chose to delve deeper into

the sources of the student entrepreneurs’ management skills as well as how they were

able to develop such skills. What our study aims to gather, however, is the precise

actions of student entrepreneurs’ management practices. In line with this, we also

recognize the fact that there is a limited amount of studies conducted on the strategies

on how student entrepreneurs deal with external factors that they encounter during their

business. Granted that, it is this study’s purpose is to gather the necessary data to give

additional information to such gaps in the related studies presented in this chapter.

21
22
 CHAPTER 3

METHODOLOGY

Research Design

This study employed the phenomenological design under qualitative approach in

which we utilized the participants’ lived experiences to collect as well as analyze the

necessary information for the accomplishment of the goals of this study.

Qualitative research refers to a variety of approaches that aim to generate a

comprehensive understanding of the social world by seeking to learn about people's

lived experiences (Kemparaj, Chavan, & Sangeeta, 2013). Furthermore, according to

Creswell (2011), in gathering data for this kind of research, the researchers collect data,

which may be in words or images, for learning about the participants. In qualitative

research, researchers ask general questions that focus on a single idea so that the

participants can provide answers to the questions and freely shape their responses.

From this, the researchers will describe the data using different themes and text

analysis and interpret what the descriptions mean. Reporting this kind of research can

be done using a wide range of formats.

The phenomenological research design refers to the study of personal

experience which requires a description or interpretation of the meanings of a certain

phenomenon the participants have experienced (Padilla-Díaz, 2015). In this study, we,

the researchers, described the experiences of the selected participants by conducting

profound interviews and follow-up questions to acquire an in-depth understanding of

their experiences as student entrepreneurs.

23
 This study made use of the phenomenological research design as it explored the

experiences of different student entrepreneurs regarding the management of their

businesses and the different challenges they face in their lives as both students and

entrepreneurs. The phenomenological design was applicable in this study because it

focused on the lived experiences of a particular group and it sought to describe a

particular phenomenon, the group being the student entrepreneurs (Creswell, 2011).

Research Participants

According to Sargeant (2012), the subjects involved in a qualitative research’s

sample must have the ability to impart important aspects, outlook, and information that

are interconnected to the phenomenon being studied. In this study, the participants

were Ateneo de Davao University’s senior high school and college students.

Furthermore, the participants were chosen through purposive sampling to guarantee

that the fundamental data that the researchers will need will be given as needs be.

According to Crossman (2018), a purposive example is a non-likelihood test that is

chosen in view of attributes of a populace and the target of the investigation. Purposive

inspecting is otherwise called judgmental, particular, or abstract examining. Sargeant

(2012) states that the sample size depends on how many can fully inform the

researchers about all the relevant factors in the phenomenon being studied. However,

according to Creswell (2007, as cited in Hadzilias 2011), there should be 5-25

participants in an interview and that these individuals should have experienced the

phenomenon being studied. With all these criteria given, we, the researchers selected

seven student entrepreneurs from Ateneo de Davao University. This sample size was

determined with regards to the availability of the participants. The student entrepreneurs

24
chosen knew the basics of entrepreneurship and had sufficient expertise and

experience in entrepreneurship. All these qualifications were used in selecting the

participants to make this study reliable and accurate.

Role of the Researcher

The role that, we, as researchers played in qualitative research was attempting to

access the thoughts, feelings, and experiences of the study participants (Sutton, &

Austin, 2015). Therefore, in this phenomenological study, we deliberated the rationale of

our research by interviewing student entrepreneurs in order to know and identify their

skills and strategies and to be able to understand the different challenges they faced

and how they overcame it. We also obtained more information through interviewing

different student entrepreneurs to disseminate their different skills on handling their own

businesses. Correspondingly, we guaranteed the consent and privacy of the

participants and adequately informed them of their participation and role in the study.

Additionally, relevant journals, articles, documents and books were used as supporting

literature of this study. In this manner, the data gathered was the foundation to answer

the research questions. Finally, we reviewed and interpreted the data gathered from the

interview to accomplish the study. Data transcription was done by converting the data

gathered into textual form through the proper utilization of available software to help the

researchers maintain order and organization through the data analysis process.

Data Source

There are various ways of data collecting method that are utilized in qualitative

research. However, the most commonly used methods are interviews, observations,

and document review (Creswell, n.d. as cited in Dave, 2013; Data Collection Methods,

25
n.d.). Interviews are a qualitative research technique which involves performing

intensive individual discussions with a small number of participants to delve into their

perspectives and ideas about a particular subject (Boyce & Neale, 2006 as cited in

Interviews, n.d.). Moreover, there are three different formats of interviews namely:

structured, unstructured, and semi-structured. On the other hand, observations are a

systematic data collection approach where the researchers employ the use of their

senses to study people in their natural environments (Cohen & Crabtree, 2006). The

types of observation methods are participant and non-participant. Finally, document

review is a data collection method that involves going-over existing documents,

literature and studies in relation to the subject at hand (Document review definition,

n.d.).

In this study, we, the researchers, used a semi-structured interview as the

method for collecting data from the senior high school and college students of Ateneo

de Davao University. A semi-structured interview follows a prepared outline of questions

to be asked to the interviewee but allows, us, the interviewer to present follow-up

questions. Using this method, we gathered the live experiences of student

entrepreneurs and their management skills. Furthermore, an intensive document review

was done to provide relevant support and literature to the findings of the study.

Therefore, this study utilized both primary and secondary sources.

Data Collection

In the beginning of this research, we gathered articles, journals, and books that

are related to the management skills of student entrepreneurs. The documents gathered

were from different credible and reliable websites. These documents provided initial

26
information about student entrepreneurs that can be used for this study. An interview is

the recording and analyzing of the opinions, experiences, beliefs, and ideas of a person

on a relevant topic which gives a profound insight into the social phenomena (Gill,

Stewart, Treasure, & Chadwick, 2008 as cited in Parveen & Showkat, 2017). In line with

this, we used in-depth semi-structured interviews with the college and senior high

students of Ateneo de Davao University that have experiences in running a business.

According to Ben McCamon (n.d. as cited in Keene n.d.), semi-structured interviews

are used to collect focused, qualitative data which gives flexibility of an open-ended

interview while still focusing on the topic. The interview was semi-structured and aimed

to identify the participant’s experiences and skills regarding the said study. We, the

researchers, made a set of questions prior to interview. However, we were not restricted

to ask follow-up questions for the interview to appear conversational while making sure

to collect reliable and comparable qualitative data. During the interview, one of us which

served as the interviewer asked the questions and recorded the answers using a phone

recorder to acquire an accurate record of the interview. Thereafter, the data collected

was saved for review and further analysis.

Data Analysis

The data extracted from the respective respondents was scrupulously analyzed

and subjected to thorough comprehension by us. This was essential in order to find a

pattern or a scheme in the responses of the student entrepreneurs on their time

management skills that might prove useful for the overall conclusion and context of the

research. It was also important to keep track of this pattern to spot a deviation or an

atypical response that might arouse new ideas and concepts and how it will broaden the

27
vision for the study. The data was based on the respondents' experience, perspective,

and statement of opinions and was not changed or manipulated in its context. We used

a deductive approach which involves using the research questions of this study to

analyze the data more effectively (How to effectively carry out a qualitative data

analysis, n.d.). Moreover, the data collected was analyzed through thematic analysis

where we identified major themes based on the repeating patterns observed from the

data gathered.

Trustworthiness of the study

Trustworthiness is referred as something deserving of one’s trust and

confidence, it is the ability to be reliable (Trustworthiness, n.d.). However, in a

qualitative study, trustworthiness is an umbrella term for four specific components

namely: credibility, which refers to the researcher’s confidence on the reliability of

his/her study; transferability, which refers to the applicability of the study in other

contexts; confirmability, which is the degree of objectivity in the research and

dependability, which is the consistency of the findings if it were to be conducted by other

researchers (Olivia, 2018).

Credibility. Credibility is often referred to as the parallel criteria of internal validity

of Lincoln and Guba (1985). Cook and Campbell (1979, as cited in Lincoln & Guba,

1985) refers to internal validity as “the approximate legitimacy with which we infer that a

relationship between two variables is causal or that the absence of a relationship

implies the absence of a cause.” Granted that, findings are held credible if the research

is done right and if the data collection and analysis method ultimately avoid the

confoundment of the findings. Therefore, we ensured that the references used in this

28
study were validated by those of authority. The researchers also made sure that the

data collection done will accomplish what it was intended to. Furthermore, we ensured

that the data presented in the study was the exact replica of the raw data gathered.

Additionally, analysis of such followed a set of criteria that led to the addition of valuable

information relevant to the study.

Transferability. Transferability is the described as the parallel criteria of external

validity. According to Cook and Campbell (1979, as cited in Lincoln and Guba, 1985),

external validity is "the approximate validity with which we infer that the presumed

causal relationship can be generalized to and across alternate measures of the cause

and effect and across different types of persons, settings, and times.” With that said,

external validity refers to the applicability of the study to other setting, people, and

times. Moreover, transferability is established by presenting evidence that the study’s

findings could be applicable to other contexts (Olivia, 2018). Therefore, in line with the

objectives of this study, we are hoping that the data extracted from this research will

provide a pattern for the study’s future readers to use as a guide in terms of generating

more useful management practices, strategies, and ways to cope up with challenges.

We also hope that such information will not only be applicable to one’s business

ventures but also in the other aspects of his/her life. In this way, the results and findings

of this study are relevant enough to be able to apply in other contexts.

Confirmability. Confirmability refers to the degree of neutrality of the researcher

in his/her study. In other words, confirmability also refers to objectivity. According to

Lincoln and Guba (1985), objectivity is observed in the study when the right and

accurate methodologies are used to analyze the data. When imperfect methodologies

29
are not utilized, this can threaten the objectivity of the study. Hence, we assured that no

data manipulation was done in order to make the information favor a positive result for

the analysis of data.

Dependability. Dependability is defined as “the stability of data over time, and

over conditions” (Dependability in Qualitative Research, n.d.). Furthermore,

dependability is also deemed as synonymous to reliability. Reliability is threatened by

any careless act in collection and assessment of data (Lincoln & Guba, 1985). Given

that no such manipulation will be done to make the results favor to one side, it is

assured that nearly similar results will be extracted should the study be conducted

again.

Ethical Consideration

In conducting research, the following ethical considerations must be accounted

for, namely: voluntary participation, informed consent, avoidance of risk of harm, and

confidentiality (Trochim, 2006). In this study, we did not force the people to participate in

the research. If they did not wish to participate, they had the right to decline and we did

not use this against them. Second, we considered the principle of informed consent in

which the participants were informed beforehand of all the risks and processes involved

in the research. A formal letter was presented to them, containing all the details relevant

to interview to be conducted. In addition, the we dutifully observed objectivity when

gathering the responses of the participants. We respected any statement given by the

participants and no form of influence was done to manipulate any of the participants’

responses. Third, the participants were not put in situations that can put them at risk of

harm to ensure their safety. We, the researchers, and the participants practiced

30
formality and respect and effectively avoided any potential physical and psychological

risks. Confidentiality was also practiced by assuring the participants that personal

information about them will not be revealed to the public for the protection of their

privacy. Granted that, we did not record information that were directly related to the

participants, which might result to their unintended identification (Understanding

anonymity and confidentiality, n.d.). Rest assured that this study only recorded pure

findings and did not give out any unnecessary personal information of the people

involved.

31
 CHAPTER 4

Presentation of results

In this chapter, the lived experiences of student entrepreneurs will be presented

per research question. From the results, several themes and ideas will be interpreted

and discussed. In addition, related literature and the responses gathered from the

participants will be used to back up the drawn themes.

The management practices of student entrepreneurs.

The first research question of this study is regarding the management practices

of student entrepreneurs. The following tables show the major themes and core ideas

drawn from the lived experiences of student entrepreneurs’ time management practices,

financial management practices, the balance done by student entrepreneurs between

their business and personal lives, and the influences on student entrepreneurs’

management techniques respectively. These tables are then followed by the verbal

presentation of the major themes of the first research question.

Table 1. The management practices of student entrepreneurs

Major themes Core ideas/Responses

Prioritizing the business activities over ● Prioritizing the business because

other activities the weight of the business is

heavier

● Putting the business over

academics

● Separating business from personal

life
Proper allocation of the income ● Dividing the income to savings,

32
 bills and expenses

● Dividing income into specific

percentages

● Separating the profit from the

capital
Being influenced by role models ● Mother has office, business and

other sidelines and has an

experience in management

● Mother managed the store when

the student was younger and

manages family budget

● Mother started the business and

encouraged the student to be like

her

Prioritizing business activities over other activities. The first major theme

implies that there are student entrepreneurs who prioritize their business-related

activities over their non-business and academic related activities by doing the things

necessary for their business first before doing anything else. This is manifested in the

following statements of our participant which states are:

“I manage... Gina-manage ko ang time ko like parang... mag ano ako na

priority ko ang business. At the same time, parang like, multitasking gud

siya. At the same time I'm doing my business, at the same time I'm doing

33
 my stuffs in academics. Parang ganun talaga parang like, important sila

both, pero like parang gawin mo pa rin both, pero mas important lang ang

business, ganyan ang time.” (Participant 1)

(“I manage my time in a way that I prioritize my business. I do multi-

tasking. I am doing my business and at the same time, I am doing my

academic stuff. It’s really like that; they are both important and you need to

consider both of them, but the weight of the business is heavier.”)

In addition, this can also be observed in the statement of Participant 3:

“I put my business over academics… I make sure that the orders get

delivered and I prepare the right orders and even if that means

compromising my first subject which… usually isn’t a subject I’m

interested in... I go for my money… my business.”

(“I put my business over my academics. I make sure that the orders get

delivered and I prepare the right orders even if it means compromising my

academics.”)

Furthermore, this is also evident in the response of Participant 5:

“Well since I am a student entrepreneur, I make sure that I balance my

time well. So in the morning I do acads and in the afternoon when I get

home I tend...ay since I am a student entrepreneur I tend to check my

facebook account since I used Facebook as a tool in my business. So if I

go home I check it. I post. I post the products that I sell and then.. yun

34
 gina manage ko talaga ang time well ko para hindi gud mag conflict ang

aking acads and yung business ko.”

(“Well since I am a student entrepreneur, I make sure that I balance my

time well. So, in the morning I do acads and in the afternoon when I get

home I tend to check my facebook account since I used facebook as a

tool in my business. I really manage my time well so that there will be no

conflict between my acads and business.”)

Proper allocation of the income. The major theme on the student

entrepreneur’s financial management is the proper allocation of the income to savings,

revolving fund, and expenses incurred through the course of the business. This is

evident in the following statements:

“Uhm, gina manage ko finances bale 50-50. Yung 50% is dun lang sa

business tapos yung isang 50 is gina hati ko pa sa 20-30. Yung 20% is

yun na ang pambaon ko, yun na ang pamasahe ko, tapos ang 30 kay

ibigay ko sa mama ko.” (Participant 2)

(“The way i manage my finances is by dividing my income by two equally.

The first 50% of my income, i allot it solely to enhance my business. The

other 50%, i divide it further into 20% and 30%. In this way, i can have the

20% for my personal expenses and give the 30% to my mother.”)

Participant 1 also mentions:

“Sa finances ko, ehh, finance ko... Gina ano ko siya, gina... gina... allot...

May budget ako each ano ko, like, for example, sa finance, sa earnings

ng business ko, ginadivide ko yan siya sa cap, sa capital para makabili ulit

35
 ng product, ay ng mga kailangan for the business. Saving. Mag save ako

tsaka... sa mga kailangan ko ba-bayaran na bills kasi ako nagabayad man

ako ng bills ko, tapos.. tsaka ano ko, allowance ko like parang panggastos

ko, yang apat na yan, sa capital sa business, sa... tawag nyan, sa

pagsave ko, magsave ako, tapos sa bills, atsaka sa mga allowance ko na

paggastos ko.”

(What I need for the business. Second, I allot money for my savings.

Third, I use part of my earnings to pay the bills because I have bills to pay.

Last is my allowance for my expenses. I divide my earnings by those four:

the capital for my business, my savings, my payment for my bills, and my

allowance for spending.”)

Participant 5 also stated that:

“Well I manage my finances well kasi when I have my profit I divide it by..

divided by two so yung bigger na amount na ma use ko kunwari paano ko

siya ma explain..so kunwari.. ok lang?.. So diba ano… I sell ano.. kasi I

don’t sell food, I sell products na useful gud like much useful like shoes,

bags, etc.. to students. So ang finances ko is the profit or the ano ba.. the

capital, the profit that I earned. I-separate ko siya sa aking allowance. So

separate ang aking allowance sa aking capital so that the capital or profit

na ma-use na..na..na earn ko sa product, I will use it to buy products na

gibenta ko na gibili ng customers ko.”

(“Well I mange my finances because when I have my profit I divided it by

two. The bigger amount that I used...wait how to explain this. because I

36
 don’t sell food, I sell products that are useful…much useful like shoes,

bags, etc. to students. So my finances are the profit or the capital and the

profit that I earned. I separate it from my allowance. So my allowance and

capital are separated from each other so that the capital or the profit that I

will earn I will use it to buy the products that I sell that my customers buy.”)

Role models. Lastly, the third major theme for the first research question is

regarding the influences on the student entrepreneur’s management techniques. Most

student entrepreneurs are influenced by their parents’ management techniques,

especially if they are also entrepreneurs themselves. This can be observed in the

following statements:

“Well I got it from my mom kasi my mom started this business. She told

me na “nak why not use..why not be like me, why not sell to your

classmates?”. So, this management technique is…I got it from my mom.”

(Participant 5)

(“Well I got it from my mom because my mom started this business. She

told that why not to be like her and why not sell to my classmates. So I got

this management technique from my mom.”)

In addition, Participant 1 also mentioned:

“Ano lang sya mag yang parang experience like parang trial and error

lang talaga sya kasi at first kay ano lang man yan parang ma ano mo lang

gud yan malabas mo lang yan ba na, ah kailangan ganito. Kasi

nakaexperience ako ng ganito hindi ko siya na manage ng ganyan, so

magcome up ako ng other strategies. Ang maka-influence din sakin kay

37
 mom ko, kay si mama din kasi kay, may office tas naga business and may

sidelines so parang ano siya management siya.”

(“I honed my management technique with experience. It’s just trial and

error because at first, you will be the one to figure things out, like, for

example, “Oh, it needs to be done like this”. When I did something and it

did not work out, I come up with other strategies. My mom also influenced

me a lot because she has an office, has a business, and has her own

sidelines so she has an experience with management.”)

This can also be observed in the response of Participant 2:

“Yung nag influence sakin is yung mama ko kasi yun nga naga bantay

siya samin nung bata pa kami tapos yang may tindahan tapos may ano

pa, siya ang naga manage ng pera sa bahay. Nung nakita ko yung pano

niya ibalance ang pera para sa pamilya at yung pera para lang sa

business.”

(“My mother influenced me the most. When we were younger, she was the

one who managed our store and even today, she manages the money for

our family. From her, I learned how to divide the money for personal use

and for the improvement of the business.”)

The strategies of student entrepreneurs.

The second research question of this study pertains to the strategies done by

student entrepreneurs in running their business, the considerations they take in relation

to their business, how they handle the external factors that they encounter during the

course of their venture, and whether they pattern their strategies from other

38
entrepreneurs. The following tables present the major themes of the subtopics

respectively.

Table 2. The strategies of student entrepreneurs.

Major themes Core ideas/Response

External Considerations ● Target goals by doing things that

are needed to do in order to reach

it

● Consider the preferences of

customers about the quality and

price of the product

● Consider the right timing to sell the

products to your target market

Activity rather than passivity ● Improvisation and uniqueness of

the product from others

● Focus on current problems and

responsibilities

● Look for solutions

Estimating the quantity of production ● Avoid overproduction of products

to avoid loss

● Hire people who can make your

products for you

● Buy ready-made products and sell

it

39
 External considerations. The first major theme for the second research

question indicates that student entrepreneurs take various considerations in their

personal life as well as other aspects of their lives before they venture fully into their

business. Moreover, student entrepreneurs also consider the demands that the product

has, as well as the demands of the customer. This is evident in the following

statements:

“Well since yun nga student-friendly, dapat yung price ko…so I consider

my customers. So if yung students ang customers ko I consider the price

na dapat like ma afford lang nila and yun nga yung products na gina-sell

ko is useful gud sakanila and need nila para they will find time or will have

parang…they will be encourage to buy the product.”

(“Well, it should be student-friendly. It should be affordable and the

products that I sell are useful to them, to the point that they need it so that

they will be encouraged to buy the product.”)

This can also be observed in the response of Participant 3:

“I consider targeting my goals for the month and making sure I hit them by

doing the things I need to do.”

(“I also consider targeting my goals for the month and making sure I reach

them by doing the things I need to do.”)

Additionally, Participant 7 also mentioned:

40
 “Kuan.. since I sell chocolates to stressed students.. usually during class

hours talaga siya.. during class hours or lunch break.. kung nasestress na

yung mga students.. yung mga customers ko ganun..”

(“I usually sell chocolates during class hours and lunch break only.”)

Activity rather than passivity. This major theme refers to the strategies that

student entrepreneurs do in order to overcome the external factors that they face

throughout the course of their business. Such external factors often refer to the things

that they encounter in their external environment, like the demands of their customers

as well as the demand of their business in their personal lives. Student entrepreneurs

often choose to take actions to respond to these external factors rather than simply

ignoring them. This evident in the following responses:

“Ah ganyan… same ng ginabenta… like ano… you improve more on your

business, find… find ways to.. to make your business unique, make..

make your product more unique to the other.. other competitors like

maggawa ka ng pakulo, like ano, tatlo.. tatlo ten, mga ganyan tapos ano

din.. pasarap- mas pasarapin mo tsaka… and your ano.. convincing skills..

sales per- tawag niyan? Parang… Sales talk, ganyan.” (Participant 1)

(“Improve more on your business, Find ways to make your business

unique. Make your product more unique than other competitors. For

example, make gimmicks, like “buy three for ten pesos”. Make it more

delicious and practice your convincing skills, your “sales talk”.”)

41
Participant 4 also stated that:

“Syempre dapat naa man jud kay own strategy jud pero naa man jud nay

kuan kanang sa imong competitor naa man jud moy magcommon na

strategy kay di man jud na siya maiwasan nya ikaw mangita lang jud kag

strategy na kuan lahi sa imong competitor.”

(“There are times that we really can’t avoid having the same strategy with

our competitors. You just really have to find ways to make your strategy

different and effective from the others.”)

This can also be observed in the response of Participant 3:

“I make sure to pay attention in class so I don’t have to study so much

when there are academic activities that need to be done. In my business, I

just try to be a firefighter and look for solutions when there are problems

instead of just dwelling on them.”

(“In my business, I just try to be a firefighter and look for solutions when

there are problems instead of just dwelling on them.”)

Estimating the quantity of production. This theme refers to the strategies of

student entrepreneurs on effectively running their business, especially with the

considerations that they take in their day-to-day lives for their businesses. Student

entrepreneurs who make their products out of raw materials often estimate the number

of products they will produce for that specific period of their business. However, student

entrepreneurs who do buy and sell still need to estimate the number of products they

will buy for reselling. One of the participants stated:

42
 “Kuan lang.. tama tama lang gyud.. munchkin tapos chichacorn. Oh ako

nagagawa, ako nagagawa tas kanang chichacorn ginakuan lang nako buy

and sell.. yung ganun ba.. repack, repack.” (Participant 4)

(“I sell munchkins and chichacorn. I make the munchkins and then sell it. I

buy the chichacorn, repack it, and then it’s ready to be sold.”)

This is also evident Participant 3:

“I have people who make my munchkins for me but I’m the one who

delivers the deliveries… also for my make-up I plan my absences so if

there’s a client on that day and I don’t have any quiz or an exam that day

then I would make sure that I attend to the client even if I miss a class.”

(“I have people who make my munchkins for me but I’m the one who

delivers the orders. Also for my make-up business, I plan my absences so

if there’s client, I can plan properly how I’m going to attend to that client.”)

Additionally, Participant 4 mentioned:

“Kanang chichacorn ginakuan lang nako buy and sell.. yung ganun ba..

repack repack.”

(“I buy the chichacorn, repack it, and then it’s ready to be sold.”)

The challenges faced by student entrepreneurs.

Finally, the third research question of this study is concerned with the challenges

faced by student entrepreneurs. The tables below will present the major themes and

core ideas gathered regarding the types of challenges faced by student entrepreneurs,

how they cope with these challenges, what motivates them to get through these

43
challenges, the criticisms they face during the course of their business and how they

overcome these criticisms accordingly.

Table 3. The challenges that student entrepreneurs face.

Major themes Core ideas

Balancing school with venture ● Difficulty in proper time

management

● Figuring out priorities

Motivation to improve ● Challenges as a means to improve

● An opportunity to think of

alternatives to improve your

business

● Challenges are a part of the

journey to success
Responding positively to constructive ● Brings you to consider the physical

criticism looks of your product

● Giving value to quality of the

product over the number of

products being produced

● Makes you more open to

suggestions and opinions

Balancing school with venture. Student entrepreneurs are still students; hence

they also have their academics to focus on aside from their business. Because of the

44
demands of these two different aspects in their lives, they often find it a challenge to

balance school with their business venture. This can be observed in the following

statements:

“Challenges kay ano… yung minsan ano.. yun nga hindi mo mauna ang

academics mo.. so at risk talaga ang academics mo pag nasa student..

pag student entrepreneur ka.. so dapat, pag student entrepreneur ka like

parang ano ka din gud.. like academically.. parang bright ka din ba kay

para ma ano mo.. kahit.. kahit.. kahit konti na lang ang time mo, mabilis ka

makagawa so yun, challenge yan siya.. tsaka.. ano pa ba ang challenge..

challenge mo na.. tsk.. yang customers mo.. paano mo sila ma ano..

paano mo sila mapabili mo ang product sa kanila tsaka challenge din

yang.. parang sa.. yung parang ginasnob ka lang gud nila ganyan.. tas

challenge din ang competitors mo.. tsaka challenge din ang.. ang sa self

mo.. kung paano ka magplan, paano ka ma ano.. sa costing and all that.”

(Participant 1)

(“Being a student entrepreneur means your academic performance is also

highly at risk. You must be really good in balancing… Your customers and

competitors are also challenges.”)

This can also be observed in the statement of Participant 2:

“Uhm, yung ginabawal na ng AdDU ang student entrepreneurs. Like, okay

ano siya, totoo siya, matakot ka na makita ka ng teacher na nagabenta

ka, matakot ka na nagabenta ka, madaming factors dun. So yun yung

mga first challenge na na-face ko. Second is yung oras ko habang

45
 nagabenta and yung time ko na magstudy and yang naga review-review

lang ng ano. Sige, sabay-sabay na!”

(“AdDU’s latest rule regarding the prohibition of student entrepreneurs

within the campus. A lot of factors go into consideration because of that

rule, like being scared a teacher will see you selling and that might get you

reported to the admin. Another challenge is the proper management of my

time between studying and reviewing for the day and actually selling my

product.”)

Motivation to improve. Student entrepreneurs face a lot of different challenges

throughout their business and they often choose to use these challenges as their

motivation not only to improve their business but also a way to improve themselves.

This can be observed in the succeeding responses:

“Well, being a student entrepreneur is hard but fun job so it motivates me

to face these challenges because it will make me to become better gud.

Better individual, a better student entrepreneur so that in the…in…in time

parang masabi ko sa sarili ko na mas magaling na gud ako ngayon, mas

confident na ako.” (Participant 5)

(“Well, being a student entrepreneur is hard but fun job. It motivates me to

face challenges because it will make me to become better. A better

individual, a better student entrepreneur so I’m looking forward for that

time when I will be more equipped and that I am more confident.”)

This is also evident in the statement of Participant 2:

46
 “Kuan lang by uhm.. innovating gihapon.. oh innovation and kuan

magchange na pud kag kanang mas prefer sa uban tao.”

(“Through innovation and you must think of other ways that are preferred

by many.”)

Participant 5 also mentions:

“Well being a student entrepreneur is hard but fun job so it motivates me

to face these challenges because it will make me to become better gud.

Better individual, a better student entrepreneur so that in the…in…in time

parang masabi ko sa sarili ko na mas magaling na gud ako ngayon, mas

confident na ako.”

(“Being a student entrepreneur is hard but fun job. It motivates me to face

challenges because it will make me become better. A better individual, a

better student entrepreneur so I’m looking forward for that time when I will

be more equipped and that I am more confident.”)

Responding positively to constructive criticism. This last major theme

indicates that student entrepreneurs face criticisms throughout the course of their

business. However, student entrepreneurs often take responsive actions that are

positive to these criticisms which is another way to improve their business. This is

evident in the following statements:

“Oo, mu-ingon sila na “hala gamaya ana uy”, “cute lagi kaayo”, like, “hala,

piso lagi na”. Uhm somehow okay lang man na i-critic nila. Pagmaka,

yang makarinig kasi ako ng mga violent reaction, yun yung lakas mo para

mas-iimprove mo pa gud yung product mo, para, oo, bahalag, dati, first

47
 yung munchkin ko is gi improve ko siya into cubes. Mura siyag vita cubes.

Wala, ana lang. Improve-improve lang.” (Participant 2)

(“Yes, I do. Criticisms regarding the size, appearance, and price of my

product. But I find these criticisms useful because it is my drive to improve

my product. Example, I changed the shape of my munchkins int cubes

instead of circles.”)

This can also be observed in the response of Participant 4:

“Oh syempre naa man jud nay ing ana jud. Nay uban na muingon na ay

“te gamay lagi ni siya te” ana, naay uban na “te lahi na lagi ang kuan te

lasa ani” ana or naa man guy uban na kuan kanang.. mutan-aw sa.. how

looks.. uhh.. looks sa product tapos dili pud na siya maiwasan kay ang

importante na siya samot na sa feedback sa customer para ang imong

product na mas maquality.. maka.. maquality pa ninyo siya and mas ma..

unsa ni.. mas mainnovate nimo siya ba ug maayo kung naay feedback sa

customer..”

(“We really can’t avoid criticisms in this type of field. Some students

question as to why my munchkins are small, why it tastes weird and all.

There are people who tend to look at the appearance of the product and

that can’t really be avoided. The feedbacks of my customers are important

because it’s a way to improve the quality of my product.”)

48
In addition, Participant 5 also mentions:

“Well ano…just be positive sa lahat ng negative responses na gina sabi

nila and just look for another alternative way to face or to meet their needs

gud yun lang.”

(“Just be positive from all the negative responses that they said and just

look for another alternative way to face or meet their needs. That’s it.”)

49
 CHAPTER 5

DISCUSSION AND IMPLICATIONS

This chapter will discuss the major themes and core ideas extracted from the

responses of the student entrepreneurs throughout the course of the interview. The

themes and ideas are presented with the accurate related literature.

The management practices of student entrepreneurs

The first research question of this study aims to gather information regarding the

management practices of student entrepreneurs to make sure their business is not

compromised, the management practices they to manage their finances, how they

balance their business and personal lives, and what influences their management

techniques. The follow themes are presented with related literature that are relevant to

this study.

Prioritizing business activities over other activities. According to Dinkel

(2011), prioritizing helps the person identify the most important tasks and guide him or

her in moving closer towards his or her goals. Prioritizing is also one effective way to

make sure that deadlines are met without having to handle so much stress.

Entrepreneurs often fail at effective prioritizing because they do not see the bigger

picture, the end goal of their actions (Johnson, 2015). An entrepreneur’s decisions must

contribute to the achievement of his/her goals for his/her business.

During the interview with the participants, the researchers discovered that

student entrepreneurs dedicate most of their attention to their business, eventually

prioritizing business activities over other activities, such as academic activities, in their

lives.

50
 Proper Allocation of Income. Financial management is the management of the

financial possessions of a business. It involves the proper planning, organizing,

controlling, and monitoring of financial resources for the achievement of goals and

objectives. (What is financial management, n.d.) In the context of student

entrepreneurs, financial management is very essential since they mostly have limited

resources.

In the interview, most of the participants focused more on allocating the income

properly to ensure the continuance of their businesses. They break down their profit into

different categories such as savings and addition to the capital.

Agarwal (2016) states that two of the many skills that entrepreneurs should

possess are the ability to use limited resources and to manage money effectively.

These two go hand-in-hand since income can be the new source of capital for the

business, hence, the income must be allocated properly.

Role models. According to Drennan, Kennedy, Renfrow, and Watson (2016),

students with role models found themselves thinking that creating a business is more

probable as opposed to students without role models. Additionally, the students mostly

nominated their family members as their main role models, followed by the students’

teachers and peers.

In the course of the interview, the participants expressed that their management

techniques were mostly influenced by their parents, particularly their mothers. Their

mothers have an experience in managing businesses and budgets and actively

encouraged their children to be entrepreneurs.

51
 The occupations of the parents have a major and direct influence on the

students’ desire to become an entrepreneur. Parents who own business give their

children encouragement to start and manage their own business (Prabhu and Thomas,

2014). Thus, they are considered to be the main influencers and drivers of students’

management practices.

The strategies of student entrepreneurs.

The second research question of this study aims to gather information on the

strategies of student entrepreneurs in running their business, the different

considerations they take in relation to their business, how they handle the external

factors that they encounter during the course of their venture, and how other

entrepreneurs impact their strategies.

External considerations. One should always keep in mind that they should

remember their vision and mission and stay on course (Strategy, n.d.). Objectives

additionally give you a system inside on which to work. This tends to center your

endeavors by helping you decide out activities that won't add to accomplishing the

objectives you've set. The factors to consider in defining your objectives is income,

lifestyle, sort of work, and inner self-gratification (Goal Setting Definition - Entrepreneur

Small Business Encyclopedia, 2018).

In the interview, most of the participants said that they consider defining their

target goals in order for them to only perform efforts which are relevant. They consider

their lifestyle, money, time, preferences, and passion when it comes to reaching goals

for their business.

52
 The most encouraging idea source for business originates from customers and

listening to customers. That is something we should do ceaselessly, with a specific end

goal to comprehend what customers need, where they need it, how they need it, when

they need it, and at what cost (How Entrepreneurs Identify New Business Opportunities,

2018).

In the course of the interview, the participants expressed the importance of their

customers’ preferences when it comes to defining their product. They said that they

need to make sure that the kind of product they are selling and its price must fit the

customers’ preferences.

Activity rather than passivity. Learning to take good control of your time can

improve your ability to focus on things, and with increased focus comes enhanced

efficiency to do the tasks needed to be done, because you don’t lose momentum. It also

stated that good time management skills can help you accumulate extra time

(Appointment Plus, 2018).

During the interview, the participants said that they focus on things one at a time

in order to have extra time and spend it for business and other purposes.

Having extra time leads to be engaged in proactive behavior, opportunities and

originating action that can be a great way to solve problems and initiate actions to

lessen the burden and workloads of the student entrepreneur. It helps to produce

imaginative or unique response to a problem. (Problem solving and initiative, 2016) The

student entrepreneur can find accurate and corrective actions that befits the situation

instead of rushing the process and not do anything about it.

53
 Estimated quantity of production. People often preconceive that an individual

can start a business when he or she graduates, but the students of this generation

prove this stigma wrong (Ji, 2017). Lots of student entrepreneurs nowadays either

manage small or large businesses. Doing this while accomplishing tasks as a student is

really challenging on the part of the student entrepreneur. Selecting the right

manufacturer and maker will save a student entrepreneur from a tremendous amount of

headache (Hann, 2012).

During the interview, one of the participants stated that it is better to Iet other

people make or supply the products for you since it demands less amount of time and

effort.

A student can also have access to a vast network that can help in running and

maintaining the business. Students have the amenity downtime and they must take

advantage of this situation while they can. It can be a big help to the growth of the

business (Ji, 2017).

The challenges faced by student entrepreneurs.

The third research question of this study concerns the challenges faced by

student entrepreneurs. The major themes and core ideas discussed in the following

paragraphs are regarding the types of challenges faced by student entrepreneurs, how

they cope with these challenges, what motivates them to get through these challenges,

the criticisms they face during the course of their business and how they overcome

these criticisms accordingly.

54
 Balancing school with venture. According to Venturewell (2016), there are five

biggest challenges faced by student entrepreneurs based on the students they’ve

interviewed during their Venture Development Training in Cambridge, Massachusetts.

One of these challenges includes balancing school with venture. Owning and managing

a business is already a time-intensive job, so balancing the three aspects of one’s life,

his/her business, school, and personal activities, is a huge challenge for a student

entrepreneur. Students find themselves trying to please their customers while trying to

get good marks at school but according to a dissertation written by Blajin (n.d), this is

the cost that student entrepreneurs take upon themselves in order to convert an

opportunity or idea into a profitable business.

During the researchers’ interview with a student entrepreneur, the participant

stated that a student entrepreneur's academic performance is at risk since they need to

balance their school and venture. Being a student entrepreneur is not easy especially

when you need to focus on both your business and your studies. Student entrepreneurs

should figure out which is more important to focus on. Figuring out which one is more

important is hard because when one is a student entrepreneur, both academics and

business are a priority since they need to study and earn money at the same time.

Student entrepreneurs often have conflicted decisions between their business

plans and their student life. This because trying to run a small business while

completing assignments and studying for exams entails real perseverance and

determination (Yates, n.d. as cited by George, 2011).

55
 Motivation to improve. Being a student entrepreneur is not easy. You have to

face struggles and challenges and use this as a motivation to improve. According to

Kirkwood (2009) and Charles and Gherman (2013), as cited in Fatoki (2014),

motivations can be classified under push and pull factors. Pull factors are those that

influence that pull people towards entrepreneurship and push factors are those that

characterized by personal or external factors. Pull factors are those motivators related

to opportunity and superior needs. These include independence, personal growth, self-

fulfillment, and social status.

In the course of the interview, the participants stated that challenges as a way to

improve oneself and it gives you the opportunity to become a better student

entrepreneur. It helps you think of ways to solve problems differently and look for

alternatives.

Challenges as a part to reach your goal mainly earn profit which enables you to

achieve financial stability. According to Islam (2012) and Charles and Gherman (2013),

as cited in Fatoki (2014), push factors are also those motivators that are characterized

by personal or external factors which include the need to support the family with

additional income.

During the interview, the participants stated that challenges help you reach the

goal of financial stability. It helps lessen the burden of student entrepreneurs especially

their parents. It is one of the process of becoming a successful student entrepreneur

who wants to earn a profit.

Responding positively to construct criticism. According to Eric Gordon

(2017), as an entrepreneur builds his/her brand, he/she should ensure that to put the

56
customers first, offering them with them quality products and ventures that make them

unique compared to their competitors. An entrepreneur should welcome all complaints

and comments and do all the necessary actions to response to them.

During the course of the interview, a participant stated that he/she faced criticism

but took it in a positive manner because in order to be successful, an entrepreneur will

need to learn from experience. By doing this, it helped him/her to realize the necessary

actions to be done which helped him/her succeed.

Moreover, an entrepreneur should see criticism as an opportunity to improve. It

will give the entrepreneur a chance to evaluate their ways and be creative in creating

new approaches to respond to the criticisms. An entrepreneur should be able to use the

feedback to adjust and develop their business (Goodman, 2012).

Implications on research agenda

The purpose of this research was to gain a comprehensive understanding of the

management practices of student entrepreneurs with regards to running their

businesses and balancing their business with their personal lives. In line with this, the

major contribution of this study to our chosen research agenda is that it provides much

needed information about student entrepreneurs in the modern social and economic

world, making it timely and relevant in this time where student entrepreneurship is

regarded as a widely accepted and rapidly evolving phenomenon. Furthermore, since

this research offers new information, the content of this research can aid future

researchers with the same agenda and guide them in exploring more aspects of student

entrepreneurship.

57
Implications on ABM education

A second important implication of this study is its role in improving ABM-related

subjects by showing that student entrepreneurship is a concept that is worthy to be

introduced to students. ABM-related subjects focus more on preparing the students for

their future as business professionals, but they do not dwell much on what the students

can do at the present time. Accordingly, this research can help create a new topic within

the strand that focuses on student entrepreneurship and the management and

strategies it entails. This new topic can inspire students to start their own businesses

and help them in managing their resources and time, producing more business-inclined

individuals.

58
Concluding remarks

As ABM learners, this study has impacted us in an eye-opening way. This study

has become an instrument for us to see the other side of the coin and evaluate our own

management techniques in a broader context. Furthermore, this study has become way

for us to further understand the struggles being faced by student entrepreneurs

especially with major considerations for their personal and business lives. The interview

done to the participants made us realize that the business that student entrepreneurs

are committing to is not just a means of extra income for them but rather a bridge for

them to build a foundation for their future.

In this study, we, the researchers, have discovered that student entrepreneurs

from Ateneo de Davao University have common management practices, strategies and

ways to overcome challenges, regardless of the unit that they belong to. We also

discovered that student entrepreneurs often prioritize their business over other activities

in their lives. They are highly influenced by the people around them, especially those

who are also committed to business activities. Most of the student entrepreneurs have

role models in running their business, with majority of the study’s participants being

influenced by their parents.

Furthermore, student entrepreneurs apply different budgeting techniques to

effectively allocate their income. Student entrepreneurs also have common strategies in

running their business. Student entrepreneurs take different kinds of considerations but

commonly, they consider the alignment of the nature of the business with their lifestyle.

Moreover, they also consider the demands and needs of their customer and how they

59
can respond to these demands. Student entrepreneurs would also choose to maximize

their time properly and make use of it to produce productivity for their business. In

addition, student entrepreneurs also find challenges with the balancing their time

properly and facing criticisms throughout the course of their business. However, they

overcome these criticisms by using it as a motivation to further improve their business.

60
References
Internet Sources
Agarwal, V. (2016, September 15). Management Skills You Need To Be The Next Great
Entrepreneur. Retrieved from Entrepreneur network:
https://www.entrepreneur.com/article/283135

Appointment Plus, W. B. (2018, February 11). Why Time Management Is Important. Retrieved
from https://www.appointmentplus.com/blog/why-time-management-is-important/

Association for Project Management. (n.d.). Introduction to resource management. Retrieved

August 17, 2018, from Association for Project Management:
https://www.apm.org.uk/body-of-knowledge/delivery/resource-management/

Bailetti, T. (2011, October). Fostering Student Entrepreneurship and University Spinoff

Companies. Retrieved August 17, 2018, from Technology Innovation Management
Review: https://timreview.ca/article/485

Blajin, A. (2013, March 21). Scribd. Retrieved from Scribd Website:

https://www.scribd.com/document/172754730/Challenges-and-Opportunities-facing-
Young-Entrepreneurs

Cohen, D., & Crabtree, B. (2006, July). Qualitative Research Guidelines Project. Retrieved from
Robert Wood Johnson Foundation: http://www.qualres.org/HomeObse-3594.html

Crossman, A. (2018, April 1). Understanding Purposive Sampling. Retrieved from

https://www.thoughtco.com/purposive-sampling-3026727

Data collection method. (n.d.). Retrieved from University of Wisconsin Eau claire:
https://people.uwec.edu/piercech/researchmethods/data%20collection%20methods/data
%20collection%20methods.htm

Dave, P. (2013, June 10). Chapter 7: Data collection. Retrieved from Qualitative research in
corporate communication: https://blogs.baruch.cuny.edu/com9640epstein/?p=97

Dependability in Qualitative Research. (n.d.). Retrieved from Universal teacher:

http://universalteacher.com/1/dependability-in-qualitative-research/

61
Dinkel, A. M. (2011, April 29). Time management: Organization and Prioritizing. Retrieved from
Laboratory equipment: https://www.laboratoryequipment.com/article/2011/04/time-
management-organization-and-prioritizing

Document review definition. (n.d.). Retrieved from Ventureline:

https://www.ventureline.com/accounting-glossary/D/document-review-definition/

entrepreneurship. (n.d.). Retrieved from Cambridge Dictionary:

https://dictionary.cambridge.org/dictionary/english/entrepreneurship

George, H. (2011, August 31). Are you a Student Entrepreneur?…The Challenges We Face!
Retrieved from Views of a Budding Entrepreneur:
https://blogs.lt.vt.edu/hamiltongeorge/2011/08/31/student-entrepreneurs-challenges-we-
face/

Goal Setting Definition - Entrepreneur Small Business Encyclopedia. (2018). Retrieved from
https://www.entrepreneur.com/encyclopedia/goal-setting

Goodman, N. (2012, October 15). How to make criticism drive you. Retrieved from
https://www.entrepreneur.com/article/22465

Gordon, E. (2017, August 2). 5 Challenges Facing Young Entrepreneurs (and How to
Overcome Them). Retrieved from: https://www.goalcast.com/2017/08/02/5-challenges-
that-face-young-entrepreneurs-and-how-to-overcome-them/

Hadzilias, E. A. (2011, October). Qualitative and mixed research methods. Retrieved from
https://estudijas.rtu.lv/file.php/52172/2011.-2012._akademiska_gada_seminari/19.-
21.10.2011._Seminars_-Kvalitativas_petijumu_metodes-/Notes.PDF

Hann, C. (2012, July 31). How to Find a Manufacturer For Your Product. Retrieved from
https: //www.entrepreneur.com/article/223777

How Entrepreneurs Identify New Business Opportunities - Knowledge@Wharton.

(2018). Retrieved from http://knowledge.wharton.upenn.edu/article/how-entrepreneurs-
identify-new-business-opportunities/

How to effectively carry out a qualitative data analysis. (n.d.). Retrieved from Achievability :
https://www.achievability.co.uk/evasys/how-to-effectively-carry-out-a-qualitative-data-
analysis

62
Interviews. (n.d.). Retrieved from Research methodology: https://research-
methodology.net/research-methods/qualitative-research/interviews/

Ji, R. (2017, March 15). Student Entrepreneur: How to Succeed in School and Business.
Retrieved from https://medium.com/thrive-global/student-entrepreneur-how-to-succeed-
in-school-and-business-a4038e612552

Johnson, A. (2015, November 11). 5 Mistakes That Make Effective Prioritizing Impossible.
Retrieved from Entrepreneur: https://www.entrepreneur.com/article/251713

Keene, C. (Ed.). (n.d.). Semi-structured Interviews | Design Techniques. Retrieved from

http://designresearchtechniques.com/casestudies/semi-structured-interviews

Lincoln, & Guba. (1985). Establishing trustworthiness. Retrieved from

https://ethnographyworkshop.files.wordpress.com/2014/11/lincoln-guba-1985-
establishing-trustworthiness-naturalistic-inquiry.pdf

management. (n.d.). Retrieved August 17, 2018, from BusinessDictionary:

http://www.businessdictionary.com/definition/management.html

Manegerial Skill. (n.d.). Retrieved from Business Dictionary:

http://www.businessdictionary.com/definition/managerial-skill.html

Malolos, C. (2017, June). Level of perceived entrepreneurial skills of students at the western
Philippines university. Retrieved August 9, 2018 from
http://www.dlsu.edu.ph/conferences/dlsu-research-congress-
proceedings/2017/RVREBM/RVREBM-I-006.pdf

McQueary, L. (n.d.). What Management Skills Are Necessary to Become a Successful

Entrepreneur?. Retrieved from Chron: https://work.chron.com/management-skills-
necessary-become-successful-entrepreneur-9625.html

Management. (n.d.). Retrieved August 9, 2018 from Merrim-Webster: https://www.merriam-

webster.com/dictionary/management

O'Neill, O. (2015, November 27). How students can start their own business while at university.
Retrieved from https://www.independent.co.uk/student/young-entrepreneurs/how-
students-and-young-entrepreneurs-can-start-their-own-business-while-at-university-
a6752051.html?amp

63
Olivia. (2018). What is Trustworthiness in Qualitative Research? Retrieved from Complete
Dissertation: http://www.statisticssolutions.com/what-is-trustworthiness-in-qualitative-
research/

Parveene, H. &Showkat, N. (2017). Data Collection. Retrieved from

https://www.researchgate.net/publication/319128325_Data_Collection

Problem solving and initiative. (2016). Retrieved from

https://www.nottingham.ac.uk/hr/guidesandsupport/performanceatwork/pdpr/pdpr-
behavioural-competency-guide/personal-effectiveness/problem-solving-and-
initiative.aspx

Reyes, R. R. (2015, January 20). Filipinos view entrepreneurship positively. Retrieved August 9,
2018 from BusinessMirror: https://businessmirror.com.ph/filipinos-view-
entrepreneurship-positively/

Sargeant, J. (2012, March). Qualitative Research Part II: Participants, Analysis, and Quality
Assurance. Retrieved from
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3312514/#__ffn_sectitle

Strategy. (n.d.). Retrieved from Business dictionary:

http://www.businessdictionary.com/definition/strategy.html

Sutton, J., & Austin, Z. (2015). Qualitative Research: Data Collection, Analysis, and
Management. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4485510/

Time Management Skills. (n.d.). Retrieved August 2017, 2018, from Psychology Today:
https://www.psychologytoday.com/us/basics/time-management

Trochim, W. M. (2006, October 20). Ethics in research. Retrieved from Social research
methods: http://www.socialresearchmethods.net/kb/ethics.php

Venturewell. (2016, August 16). Retrieved from Venturewell Web site:

https://venturewell.org/five-biggest-challenges/

What is entrepreneurial resource? (n.d.). Retrieved 9 2018, August, from BusinessDictionary:

http://www.businessdictionary.com/definition/entrepreneurial-resource.html

64
What is Financial Management? (n.d.). Retrieved August 17, 2018, from fundsforNGOs:
https://www3.fundsforngos.org/financial-management/2-what-is-financial-management/

World Bank & Organisation for Economic Co-operation and Development. (n.d.). Business and
entrepreneurship skills and experience. Retrieved August 17, 2018, from The Innovation
Policy Platform : https://innovationpolicyplatform.org/content/business-and-
entrepreneurship-skills-and-experience

Zent, M. (2013, December 20). The Top 5 Essential Strategies for Entrepreneurs.
Retrieved from https://m.huffpost.com/us/entry/448013

E-journals

Anumnu, S. I. (n.d.). Knowledge Management and Development of Entrepreneurial

Skills Among Students in Lagos, Nigeria. The Electronic Journal of Knowledge
Management, 12(2), 144-154. Retrieved from
http://r.search.yahoo.com/_ylt=AwrS_AjxxclbHy0ARThXNyoA;_ylu=X3oDMTByb
2lvbXVuBGNvbG8DZ3ExBHBvcwMxBHZ0aWQDBHNlYwNzcg--/RV=2/RE=1539
978865/RO=10/RU=http%3a%2f%2fwww.ejkm.com%2fissue%2fdownload.html
%3fidArticle%3d569/RK=2/RS=g8jiSM920SvBdSDHoeaCvzyzxsw-

Chatterjee, N., & Das, N. (2016, February 14). A Study on the Impact of Key
Entrepreneurial Skills on Business Success of Indian Micro-entrepreneurs: A Case of
Jharkhand Region. SAGE Journals. 17(1), 226-237. Retrieved from
http://journals.sagepub.com/doi/full/10.1177/0972150915610729

Fatoki, O. (2014). Student Entrepreneurs on University Campus in South Africa:

Motivations, Challenges and Entrepreneurial Intention. Mediterranean Journal of Social
Sciences, 5(16), 100-107. Retrieved from
http://www.mcser.org/journal/index.php/mjss/article/download/3285/3239

Kennedy, J., Drennan, J., Renfrow, P., & Watson, B. (2016). The Influence of Role
Models on Students' Entrepreneurial Intentions. Queensland Review, 10(1), 37-
52. Retrieved from https://www.cambridge.org/core/journals/queensland-

65
 review/article/influence-of-role-models-on-students-entrepreneurial-
intentions/259D47BE9CC8173A00AE26DB0BCBA5A1

Kemparaj, U., & Chavan, Sangeeta. (2013, March). Qualitative research: A brief
description. Indian Journal of Medical Sciences, 67(3&4), 89-98. Retrieved from
https://www.researchgate.net/publication/258526802_Qualitative_research_A_bri
ef_description
Marchand, J., Sood, S., & Hermens, A. (2015, October). Student Entrepreneurship: A Research
Agenda. The International Journal of Organizational Innovation, 8(2), 266-281. Retrieved
from
https://www.researchgate.net/publication/282370614_Student_Entrepreneurship_a_Res
earch_Agenda
Padilla-Díaz, M. (2015, May 3). Phenomenology in Educational Qualitative Research:
Philosophy as Science or Philosophical Science?. International Journal of Educational
Excellence, 1(2), 101-110. Retrieved from
http://www.suagm.edu/umet/ijee/pdf/1_2/padilla_diaz_ijee_1_2_101-110.pdf
Prabhu V., A., & Thomas, A. (2014). Influence of Parental Factors on the
Entrepreneurial Attitude of B School Students. The Institute for Research and
Development India, 3(1), 35-38. Retrieved from
http://www.irdindia.in/journal_ijrdmr/pdf/vol3_iss1/6.pdf

Ramos, A. (2014). Entrepreneurial Intentions among Business Students in Batangas

State University. Asia Pacific Journal of Multidisciplinary Research, 2(4), 1-6.
Retrieved from http://www.apjmr.com/wp-content/uploads/2014/08/APJMR-2014-
2-095.pdf
Sugiarto, K., Samtani, H, N., Amaris, S, L., & Kumar, S. (2014, June). International Journal of
Trade, Economics and Finance, 5(3), 244-248. Retrieved from
http://www.ijtef.org/papers/378-CF10012.pdf

Books
Concepcion, J. (2011). 50 inspiring stories of young entrepreneurs. Mandaluyong: Philippine
Center for Entrepreneurship.
Creswell, J. W. (2011). Educational research: Planning, conducting and evaluating
quantitative and qualitative research. Boston: Pearson Education, Inc.

66
Sieger, P., Fueglistaller, U., & Zellweger, T. (2016). Student Entrepreneurship 2016:
Insights from 50 Countries. St. Gallen: IMU.

Theoretical Lens

Hutterer, H., Pilz, H., Stark, W., & Steiner, G. (2000, August). Analysis of the Fundamental
Concepts of Resource Management. Retrieved August 9, 2018, from
http://ec.europa.eu/environment/enveco/waste/pdf/guareport.pdf
Morris, M.H., Shirokova, G. & Tsukanova, T. (2017). Student entrepreneurship and the
university ecosystem: a multi-country empirical exploration. European J. International
Management, 11(1), 65–85. Retrieved from
http://www.guesssurvey.org/resources/academic_publications/EJIM11104_Morris-et-
al.pdf

67
5 September 2018

Aujefel Amor Y. lee

Assistant Director for Academics
Senior Highschool Department

Dear Ma'am Lee,

Good day!

We, the researchers from Grade 12-Anchieta of the ABM strand, are currently conducting a
study entitled, "A Qualitative Inquiry on the Management Skills of Student Entrepreneurs". The
purpose of this study is to know the different aspects that student entrepreneurs consider to
effectively manage their business, to know how they balance running their business with their
other activities, and to know the difficulties they face and how they overcome such challenges.
The participants of this study were selected through purposive sampling. Furthermore, the
participants can benefit from this study in such a way that they can incorporate the findings into
their own management practices.

In line with this, we would like to ask for permission to conduct an interview with Senior
Highschool and college students from Ateneo de Davao University to gather all the necessary
information. For your convenience, attached herewith are the interview guide and the informed
consent. Rest assured that this study will observe ethical consideration standards in
interviewing the participants. Also, we assure you that we will not force the participants to
participate in our study and instead, they will just be encouraged to voluntarily participate.
Should this study merit your approval, you may contact Yumilcka Rafhaella M. Beluan, Grade
12 ABM Learner and lead researcher, in Room F510 or through her phone number, 0948 854
9654.

Thank you.

Respectfully yours,

Beluan, Yumilcka Rafhaella M.

Lead Researcher

Noted by:

Ma. Francesca Elaine Palou

Practical Research Teacher

68
Greetings, Participant!

We, the researchers from the ABM strand, are currently conducting a study about the
Management Skills of Student Entrepreneurs. The study aims to investigate the different
aspects that student entrepreneurs consider to manage their businesses and other activities
efficiently. In addition, it is this study’s goal to produce relevant information in relation to
management skills of student entrepreneurs for students, teachers, the school, and future
researchers to use as a reference and guide for their future endeavors.

We would like to ask for your participation in the interview which will involve asking you about
your personal experiences on managing your business and balancing it with your other
activities. Your participation in this study is not obligatory but entirely voluntary, meaning, we will
respect your decision if you decline from participating. In the circumstance that you do not wish
to participate anymore in the said study, your data will immediately be excluded. Data may be
published in any form of published documents, rest assured that your identity will remain
anonymous.

If you have any queries concerning the research study, please contact 09488549657 or email at
yamsters.yb@gmail.com

The research has been verified and approved by the Ateneo de Davao University Senior High
School’s Assistant Director for Academics and research studies. Thank you for your kind
cooperation!

Note: Only former and current student entrepreneurs are allowed to participate in the interview.

I, _____________________________________, am willing to be part of this study.

(complete name)

____________________ ________________________

(Signature) (Date)

69
 INTERVIEW GUIDE

Date Interviewed:

Time Started: Time Finished:

I. Socio-Demographic Profile
Name (Optional):

Address:

Age:

Sex:

Date of Birth:

Civil Status:

II. The management practices of student entrepreneurs.

1. How do student entrepreneurs manage their time in terms of making sure

their business will not be compromised?

2. How do student entrepreneurs manage their finances?

3. How do student entrepreneurs balance their business and personal lives?

4. What influenced their management technique?

III. The strategies of student entrepreneurs.

1. How do student entrepreneurs run their business?

2. What considerations do they take in relation to their business?

3. What strategies do they to handle external factors that they encounter?

4. Do they pattern their strategies from other entrepreneurs?

IV. The challenges faced by student entrepreneurs.

1. What type of challenges do student entrepreneurs face?

2. How do they cope with these challenges?

70
3. What motivates student entrepreneurs to face these challenges?

4. Do they face criticism regarding their business?

5. How do they face these criticisms?

71
72