Our lady of the Pillar College-Cauayan

Cauayan City, Isabela

FINAL EXAM IN ENTREPRENEURSHIP

Name: Hanwell Keith Santos

Year & Section: BSN 2-A

Note: Answer should be encoded… and submit it in the office not later than May
31, Tuesday from 9:00 AM to 3:00 PM.. bring your exam with your permit
personally in my office.

Case Study Analysis

Mini Case 1: Awang’s Dilemma

Awang was a real craftsman when it came to being a machinist. Awang had
learned almost all that he knew from Daud, his first and only employer. Awang
was married and had three youngchildren. He was 33 years old and had worked
for Daud ever since he finished his tour in the Army. In 12 years, Awang had
polished his skills under the watchful and critical eye of Daud.

Daud was quick to recognize Awang's talent for the trade. Awang had a positive
attitude about learning and displayed a drive for perfection that Daud admired.
Daud's Machine Shop was a successful small business. Its success was based
mostly on the reputation for quality that had been established over its 42 years in
operation. Daud had come to this country with his new wife, Salmah, when he
was in his late twenties. Now the business was a success, but Daud remembered
the early years when he and Salmah had to struggle. Daud wanted the business to
continue to produce the highest quality craftsman products possible. On a Friday
evening, he called Awang into his office at closing time, poured him a cup of half-
day-old coffee, and began to talk with him about the future.
"Awang, Salmah and I are getting old and I want to retire. It has been 42 years of
fun but these old hands need a rest. In short, Salmah and I would like you to buy
the business. We both feel that your heart is in this craft and that you would
always retain the quality that we have stood for." Awang was taken back by the
offer. He, of course, knew Daud was getting older, but had no idea Daud would
retire. Awang and his wife, Timah, had only P 100,000 in the bank. Most of
Awang's salary went for the normal costs of rearing three children. Daud knew
Awang did not have the money to buy the business in cash, but he was willing to
take a portion of the profits for the next 15 years and a modest initial investment
from Awang.
Awang had, for the past four years, made most of the technical decisions in the
shop. Awang knew the customers and was well respected by the employees. He
had never been involved in the business side of the operation. He was a high
school graduate but had never taken business courses. Awang was told by Daud
that even after deducting the percentage of the profits he would owe under the
sales agreement; he would be able to almost double his annual earnings.
Awang would have to take on all the business functions himself because Timah
had no business training either.

Guide questions

1. Which entrepreneurial characteristics does Awang have that may be

important to his success?
Answer : Awang's entrepreneurial qualities of passion, attention,
inventiveness, and quick learning could be crucial to his success. His passion
and focus are two important elements that determine his entrepreneurial
success. His strive for perfection demonstrates his dedication to success.

2. Which characteristics could lead to Awang’s failure?

Answer : Awang's failure could be due to his lack of confidence and fear of
taking risks. Awang is apprehensive of taking risks despite possessing great
attributes like as enthusiasm and focus, creativity and innovation, and
leadership. The business will not grow properly, and it may even decline.

3. What steps should Bill take to avoid the pitfalls common to a small
business?
Answer :
-Manage the stress factor
-Lock in your revenue streams
-Do your market research
 -Target your market
-Marketing choices
-Retain your customers
-Make your website work for you
-Build a successful culture

Mini-Case 2: Doing "good" but not doing the "right" thing

Ali and Nor are spouses and partners in a business called "Segalanya Bendera."
They made and sold a variety of national flags in various shapes. About 40 percent
of their total revenues came from a single wholesale retailer, GM Kuala Lumpur,
the largest wholesale plaza in Malaysia.When Ali and Nor started their company,
their son's classmate's father was a senior buyer at GM. The buyer, Yusuf,
encouraged Ali and Nor to submit a bid to GM and he helped the couple
establish the relationship that led to subsequent recurring sales at the retailer.
Yusuf's wife, Sarah was the head of the school's PIBG and in charge for fund
raising. Without Yusuf's asking, Ali and Nor started contributing significant sums
of money to the PIBG. Yusuf never discouraged them from contributing. In a cost
cutting move, Yusuf was laid off from GM and in his place, Bakar became the
buyer who interacted with Ali and Nor. Bakar hinted to them that there were
other vendors willing to supply flags at a lower price but that if they would
contribute to the rebuilding of his (Bakar) community's softball park, they would
continue to sell their product at GM.
Guide questions:

1. Did Ali and Nor act ethically in contributing to the school's PIBG?
If they agree to pay for the community park in exchange for business from
Bakar, would Ali and Nor have acted ethically?
Answer : Their action is ethically good, but not ethically right in my opinion,
because they must also notify all senior buyers before taking action.

2. Contributing to a PIBG and donating to build a community park are civic

actions. Could Ali and Nor NOT be considered good actions because they
indicate social responsibility?
Answer : It is still considered a good activity because it demonstrates social
responsibility, but they needed to speak with the first senior buyer about the
matter as well to avoid any misunderstandings.
Mini Case 3: Protecting Your Intellectual Property

Ahmad, Hassan, and Rahmat were childhood friends who had always talked about
starting a business together after college graduation. Ahmad had the financial
background and startup capital to contribute and Hassan and Rahmat had the
technical knowledge they believed would give them the competitive advantage
needed to become an industry leader. During their early college years, Hassan
and Rahmat developed a new and innovative way to manufacture computer
components. When they shared their idea with Ahmad, he was able to draw up a
detailed business plan to present to potential investors when the three were
ready to launch their venture. They had been very careful not to disclose anything
about their innovative idea to other colleagues or any of their friends and were
anxious to get started. After selecting the company name "Millennium
Computers" the three friends come to you for advice on intellectual property
rights.

Guide questions:

1. To protect their innovative process for manufacturing computer

components from unauthorized use, which type of intellectual property
should the threesome apply for?
-They should apply for a patent through the Patents and Trademark Office
(PTO). To receive a patent, the inventor must follow these steps:
Answer :
1. Establish the invention’s novelty.
2. Document the device or process.
3. Search existing patents.
4. Study search results.
5. Submit the patent application.
6. Prosecute the patent application.

2. Identify the office to which they should apply and outline the steps
involved in the Process? Research
 -The PTO or the Patents and Trademark Office

2. Should they consider protecting or registering their company name, which

intellectual property would cover this concern?
Answer : Yes, to protect intellectual property rights such as trademarks,
copyrights, patents, and others. According to the World Intellectual Property
Organization, intellectual property refers to works of the mind such as artistic or
literary works, names, images, symbols, patterns, and innovations used for
commercial purposes.

3. Could they use the name without registering it? , Why?

Answer : No, because you can't legally use your company name unless you first
register it as one of the several business entities recognized by your state

4. Since the primary weapon to protect intellectual property is the legal

system, what would you advise the friends if they have to protect
intellectual property sometime in the future by threatening a lawsuit?
Answer : For many businesses, intellectual property shields more than just an
idea or a concept; it also defends actual business assets that are essential to the
company's core services and long-term survival. IP protection is necessary not
only to prevent your innovations from being copied or stolen, but also to protect
your brand. It provides an incentive for whatever you produce to spread and
benefit more people while remaining legal. Intellectual property protection is
critical for promoting innovation. If ideas are not protected, businesses and
people will not reap the full advantages of their discoveries and will spend less
time on research and development.