SUGGESTED ANSWERS

Entrepreneurial Exercise 1

1. Not always about starting a business venture

2. Taking risks
3. Selling goods or items
4. Gaining profit/advantage
5. Utilizing business resources
6. Formulation of strategies
7. Branding (being unique)
8. Competition or rivalry
9. Financial markets
10. Seeking new business opportunities

Entrepreneurship Defined

Entrepreneurship is a venture for new business opportunities with the goal of gaining profit or
advantage in the market through strategically utilizing available business resources whilst taking the
edge off the risks involved.

Entrepreneurial Exercise 2

“[Entrepreneurship] is that it is the process of pursuing opportunities without limitation by resources

currently in hand” (Brooks, 2009, p. 3)

Personally, I find that definition the most forthright yet substantial definition of the idea of what
entrepreneurship actually is. That word is nothing new to me given that I also have a passable experience
back in Senior High School what it feels like to be an entrepreneur. Yes, it is a process. It doesn’t just stop
with planning alone, there has to be execution overlapped with a strategic quality control. Moreover, it is
all about pursuing opportunities as the term is always linked with what is lacking in the marketplace or
what are the other particular needs that requires necessary attention. Nevertheless, the word itself
indicates utilizing the existing business resources advantageously in order to assume the goals of the
business— which is to gain profit.

Entrepreneurial Reflection 1

Does the idea of being an intrapreneur appeal to you? Why? Why not?

I don’t like the idea that you just want to comply with the requirements without even learning what
the lesson is all about so I’m not really in the mood to answer this. Having free tuition does not entitle
you to have such ego. STUDY!!!
Entrepreneurial Exercise 3

a. Trading Entrepreneurship – Chinabrands (Wholesaler)

b. Manufacturing Entrepreneurship – Volkswagen Group

c. Technical Entrepreneurship – Steve Jobs, the co-founder of Apple that gave is the iPod, iPad, iPhone

and iMac. He has since been called the greatest Tech Entrepreneur of our time.
d. Non-Technical Entrepreneurship - Amazon (Jeff Bezos)

e. State Entrepreneurship - Investpunjab in India

f. Joint Entrepreneurship - Smart Phone development by Nokia and Microsoft.

g. Innovating Entrepreneurship - Apple changed music and consumer electronics

h. Imitative Entrepreneurship - Walton BD. produced many products like refrigerators, motorbikes and

other electronic products without being the real creator of those products.
i. Fabian Entrepreneurship – Ask your classmates.

j. Drone Entrepreneurship – Ask your classmates.

Entrepreneurial Task 1

1. Do you think you have what it takes to become an entrepreneur? Why? Why not?

Personally, I believe I have what it takes to become an entrepreneur. I believe everyone can be an
entrepreneur if they wanted to. Yes, there maybe naturally born entrepreneur, however, I know it can also
be developed within a person.

2. What characteristics do you possess will help you become a successful entrepreneur? What
characteristics do you still need to acquire? – This is up to you.

3. What is the significance of the practice of entrepreneurship in your field?

The teaching of entrepreneurship in aviation information system allows the students to comprehend and
participate in the milieu of marketplace and business pressures. This education will aid them in becoming
accustomed effectively with the latest technology and market trends. Moreover, getting used with
entrepreneurship will gear and mold the students into valuable innovators in the industry as it teaches all
disciplines including the knowledge, tools, attitudes and professional ethics that are required to identify
opportunities and work on them.

Likewise, the practice of entrepreneurship impels manpower to have more rooms to exert creativity,
higher sense of worth, and an overall greater sense of control over their own existence. In other words,
this practice will maximize an individual’s potential and shared economic and social success locally,
nationally, and even internationally. Thus, it is crucial to prepare students in conquering the
entrepreneurial economy.