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CHAPTER 10: ENTERPRISE ENTRY STRATEGIES

In opening a business, I’ve learned that there are lots of entry strategies to begin your
business. You can begin from scratch or buy existing business, owns a franchise or home
business and so much more. Every step you choose and make will affect your business. You
should have ample time to gather up yourself, input efforts to know what kind of business you
will open up, understand these different entry strategies and never ever forget that every
decision you made have consequences – good or bad. You must understand that every step
you take there is risk involve, you maybe win or lose and it’s a matter of good decisions and
research.

As we discussed in our online class about this chapter, I learned that not solely you just
open a new business but you could choose whether to start from scratch which is very
challenging because everything will depend on you; or if you have family business you can
continue it but there’s lots of “what ifs”; you can also buy existing business to continue it but
remember these “why’s”; buy franchise to this well-known companies but you have limited
decision making and access; or you can choose to work from home or the new trend today
which is the online selling. Whatever you choose, it will depend on how you handle your
business.

Every business has its own risk and opportunity, as an entrepreneur you must ready to
any possible outcome. Studying every detail can also help your business succeed. I also learn
some advantage and disadvantage of these enterprise entry strategies.

The first one is the starting business from scratch, which has its own advantage and
disadvantages. Your advantage is you can have all the decision, on what and how you start it.
The design, the management and overall – you have all the control. But, the disadvantage is
that the risk is higher because you are starting from nothing. You have a chance to succeed or
fail, it’s up to you on how you manage your business.

The next one is the family business; you can inherit or continue your business. It is less
risky than starting your business from scratch because all the resources are available, the
management and the business itself. But, the main disadvantage of it is, your passion – what if
this business is not my real passion?
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For the next, buying existing business which is much lesser risk than building a business
from scratch. Although, it has numerous advantages still we should be careful on buying any
business entity because in the first place why would they sell that business establishment if
there is no problems. We must consult first in professionals before deciding and gather
information and facts. We must also ensure that this is the suitable business for you.

You can also buy a franchise from these big and known businesses. These businesses
will support you from advertisement, supplies, management and all but the disadvantage of this
is you are not in full authority of your business. You are the owner but they have the authority.

But, the trend in today’s business world is the home or online businesses. This is one of
the trending ways of starting a business especially in this pandemic that the order of our
government is to stay home and practice social distancing. Most small business owner and
aspiring entrepreneurs are choosing this entry strategies because unlike to the other strategies
mentioned above, this required lesser capital and you can start anytime within you household
grounds. You can spend more time with your family while doing business. There are also lots of
ways to send and deliver you goods or products because of different courier available. Also,
most of the customers are into online app because it’s easy to access. I also one of big fan of
buying online because as a customer I will not go anywhere to travel and buy want I need or
want, I just simply download online shopping apps or find any shop in Facebook, Instagram or
Google then do some click then finish, that’s easy to order and buy via online. Most teenagers
also prefer to buy online. But, there still a risk especially to the seller online, because there are
bogus buyer or fake buyers out there. And, sadly there still no laws to punish these buyers.

As an entrepreneur, we must first think hundreds or thousand times what decision we

will make to our business because there are lots of risks that you will encounter – It’s inevitable!
We must be prepared for every plan we made, we must have not only plan A but also plan B, C,
D until the last of the alphabet. It is better to think ahead. We risk money so we must be open
for fortuitous events that may arise. Failures also are in the bumps of our paths but never ever
let that discourage and stop you for the opportunities and success that you are aiming for. Just
believe in you and the guidance of the Lord. Pray, study, aim, plan, and fight, do action and
never ever stop to attain every single details you planned for. This is like a game, there’s a
winner and loser, but never include in your vocabulary the word “loser” because whatever
obstacles, you must stand and learn from it but never ever stop and quit.
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CHAPTER 9: ENCOURAGING ENTREPRENEURSHIP IN THE

PHILIPPINES

In this chapter we understand the efforts and connection of our

government and private sector in the growing economy of the Philippines. As
what my professor in entrepreneurship in Senior High School at Arellano
University – Andres Bonifacio High School that the Entrepreneurship is the “Back
bone of the economy” which is very true.

The micro, small and medium enterprises (MSMEs) have very important
role in the development of our country. They help create jobs for the people and
create opportunities that will help reduce the poverty that our country’s major
problem. Also, through this enterprises other sector are also benefiting from
them. The government can collect taxes from this businesses or enterprises that
they will use for building projects and for the growth of the country.

We also understand some law that this MSME shall follow which for us as
future entrepreneur may be beneficial because we have our own ideas,
information and knowledge in business industry. Like, it is not legally mandatory
but registering MSME will be helpful for them to benefits from the government
like low interest rate or excise exemption (you can read the chapter 13 of this
book to better understand what excise tax is). They can also borrow money from
the government with low interest rate and seek help when a fortuitous event
happened like the pandemic we are facing as of today.

According to mybussinessacademy.ph, MSMEs contribute a third of the

Philippines’ total employment. These MSMEs helps thousands of families and
individuals to have regular-paying job, earning and spending and contributing
back to the economy – It’s like a cycle. But, even they contribute large
employment they still needs support and help than of the large enterprises
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because they have lower productivity that affects their access to skilled labor.
These MSMEs also labeled as ambassadors for the country because despite of
being a small business, they can serve clients and customers abroad –
represents hard work and talents of Filipinos.

We can see how these enterprises help us and our economy to grow but
the question is, what can be done to help this sector realize its full growth
potential? Currently, these enterprises face a devastating present and future
outcome due to the pandemic and fortuitous event – they need help. Hopefully,
the government still lends funds for some of them but we cannot bare the truth
that these MSMEs are one of the major affected by this unseen chaos and no
one knows when it will end. Some are closing their business because of financial
problems such as rents and some operating expenses and low income. The
growth of our economy are immobilize because of this great threat. But, we can
still support them by purchasing and prioritizing the local businesses than of the
imported goods.