Prelim

ENTREPRENEURIAL MANAGEMENT

LARRA MAE B. BIRON BSBA MM – III

CHAPTER #1: Entrepreneurship and the Entrepreneur
. Discussion Questions .

1. Do you agree that entrepreneurial success follows from personal knowledge and practice rather
than a preordained destiny? Discuss.
- I do agree that entrepreneurial success follows from personal knowledge and practice rather than
a preordained destiny because if an entrepreneur really want its business to succeed he would rather work
on it such as create new innovations or strategy for its business to succeed rather than letting it failed
because of believing in a preordained destiny.

2. “An entrepreneur is one who is driven by opportunity.” Do you agree?

- Yes, entrepreneurs are opportunity and risk takers. They much more take opportunities and risks
than a businessman who sometimes leads for many entrepreneurs to gain success and make their small
businesses be bigger than it is.

3. Is it difficult to make an exact definition of entrepreneurship? Why or why not?

- Yes, in fact, some people mistakenly define an entrepreneur as a businessman and vice versa. It
is difficult to make an exact definition of entrepreneurship because it can be sometimes mistaken or be
defined as “Business”. It also doesn’t have an exact definition for entrepreneurship because it is dynamic
and fluid in nature.

4. Are there common traits among entrepreneurs that can guarantee success?
- There are no traits among entrepreneurs that can guarantee success.

5. What distinguishes an entrepreneur from a manager?

- The key difference between an entrepreneur and a manager is their standing in the company. An
entrepreneur is a visionary that converts an idea into a business. He is the owner of the business, so he
bears all the financial and other risks. A manager, on the other hand, is an employee, he works for a
salary.

6. Can we consider an owner-entrepreneur who operates his business as a manager? Can he be

both?
- Yes, although both a manager and an entrepreneur are two different people with different skills.
An entrepreneur can or can't be necessarily become a ‘great’ manager and vice versa. Another thing is
that entrepreneurs are always managers but managers may not be entrepreneurs but they can learn from
each other by balancing and a change in mind-set.

7. What are some of the attributes of successful entrepreneurs?

- The characteristics needed to become a successful entrepreneur are:
 Entrepreneurs are in Good Physical health
 Entrepreneurs have superior conceptual abilities
 entrepreneurs have the broad thinking of the generation
 Entrepreneurs have high self-confidence
 Entrepreneurs have strong personal drive
 Entrepreneurs need to control and direct
 Entrepreneurs have moderate interpersonal skills
  Entrepreneurs are moderate risk takers
 Entrepreneurs have a realistic outlook
 Entrepreneurs have a high degree of emotional stability
 Entrepreneurs have low need for status

8. Give the reasons why some people prefer not to engage in entrepreneurship.
- The reasons why people prefer not to engage in entrepreneurship are:
 Self-doubt
 Lack of support
 Fear of failure
 Information overload
 Lack or have no idea about the role of a business owner
 Perception of running a business
 Fear of selling or low self-confidence
 No systems in place or has the lack of process or procedure to create or start a
business

9. Would you agree that a man is a better entrepreneur than a woman? Defend your answer.
- No, because in terms of entrepreneurship there is nothing that brings unwarranted advantages to
any gender. It is based on how an entrepreneur makes its business into success.

10. What are the benefits that one can get from being an entrepreneur?
- The benefits that one can get from being an entrepreneur are:
 Have the opportunity to create your own destiny
 Have the opportunity to be financially well-off
 Have the opportunity of knowing yourself better
 Have the opportunity to excel, be recognized and contribute to society

. .
CHAPTER #2: Entrepreneurship in the Philippine Setting
. Discussion Questions .

1. What are the economic and social conditions in the country that foster the need for
entrepreneurship?
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2. What are some of the Filipino values that can be considered useful for that can be considered
useful for the entrepreneur?
- Some of the Filipino values that can be considered useful for that can be considered useful for
the entrepreneur are:
 Filipinos have shown excellent human relation
 Filipinos uphold the value of self-esteem and good public image
 Filipinos are generally adventurous
 Filipinos by nature are courageous
 Filipinos are noted for their ability to withstand crisis

3. Do you agree to the so-called “damaged culture” of the Filipinos as advanced by Frank Lynch
and James Fallow? What, if any, is the effect of this culture to the state of entrepreneurship in the
country today?
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4. This often said that the Chinese are more entrepreneurial than the Filipinos. Do you agree?
What are the reasons for this?
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5. To what extent has colonization advanced or retarded the growth of entrepreneurship in the
country?
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6. Discuss some of the factors that favor doing business in the Philippines.
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7. As a Filipino entrepreneur, would you prefer to star with s small business than a medium-sized
or a big one? What are the reasons for your decision?
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8. What is the role of the Government in the promotion of entrepreneurship?

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9. Do you think that the support mechanisms and assistance programs of the Government are
efficient and effective in the promotion of entrepreneurship in the country today?
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10. How can entrepreneurship be a contributing factor to?

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. .
CHAPTER #3: The Entrepreneurial Mind-set
. Discussion Questions .

1. Why is vision important for an entrepreneur?

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2. Do ideas and opportunities spring forth from vision or it is the other way around? Justify your
answer.
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3. What are the dangers if an entrepreneur starts a business without a business plan?
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4. What important facts should an entrepreneur gather in preparing a business plan?

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5. Good planning forces entrepreneurs to anticipate several things for his business. What are they?
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6. In creating a business plan, which is more important – form or substance?

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7. Why should an entrepreneur answer the question: What need will my product or service fill?
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8. Is it important that an entrepreneur should answer the question: What is unique about my
product or service?
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9. Of what importance to the entrepreneur is the question: What does my product or service offer
customers which most competing products do not offer?
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10. What functions does a business plan perform?

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