PNTC COLLEGES

Zone III, Lt. Cantimbuhan St. Poblacion, Dasmariñas City

ACTIVITY SHEET
Name ESCOBEDO VERNIE D, Year and Section MT – NPBST – 32 – A1
Course Code SOC 319 Course Title Social Science and
Philosophy(Includes PADAMS,
Occupational Health & Safety)
Module Number 8 Content Topic MODULE 8 (WEEK 9)
Entrepreneurship: Meaning,
Elements of Entrepreneurship,
and Types of Entrepreneurship
Teacher Mr. De La Torre Date May 5, 2022

PART 1. EVALUATE
1. What is entrepreneurship?
Answer
Entrepreneurship refers to an individual that has an idea and intends to execute on that idea, usually to
disrupt the current market with a new product or service. Entrepreneurship is an act of being an
entrepreneur, or "the owner or manager of a business enterprise who, by risk and initiative, attempts to
make profits". Entrepreneurs act as managers and oversee the launch and growth of an enterprise.

2. What are the elements of entrepreneurship?

Answer
Elements of Entrepreneurship
Innovation.
Organization.
Decision Making.
Risk Bearer.
Vision.

3. What are the different types of entrepreneurship?

Answer
Types of Entrepreneurship
1. Ethnic - The term "ethnic entrepreneurship" refers to self-employed business owners who belong to
racial or ethnic minority groups in the United States and Europe.
2. Institutional - The American-born British economist Edith Penrose has highlighted the collective nature of
entrepreneurship. She mentions that in modern organizations, human resources need to be combined to
better capture and create business opportunities. The sociologist Paul DiMaggio (1988:14) has expanded
this view to say that new institutions arise when organized actors with sufficient resources see in them an
opportunity to realize interests that they value highly.

3. Cultural - According to Christopher Rea and Nicolai Volland, cultural entrepreneurship is "practices of
individual and collective agency characterized by mobility between cultural professions and modes of
cultural production", which refers to creative industry activities and sectors.
4. Feminist - A feminist entrepreneur is an individual who applies feminist values and approaches through

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Zone III, Lt. Cantimbuhan St. Poblacion, Dasmariñas City

entrepreneurship, with the goal of improving the quality of life and well-being of girls and women.
5. Social Social - entrepreneurship is the use of the by start-up companies and other entrepreneurs to
develop, fund and implement solutions to social, cultural, or environmental issues.
6. Nascent - A nascent entrepreneur is someone in the process of establishing a business venture. In this
observation, the nascent entrepreneur can be seen as pursuing an opportunity, i.e. a possibility to introduce
new services or products, serve new markets, or develop more efficient production methods in a profitable
manner.
7. Millennial - The term "millennial entrepreneur" refers to a business owner who is affiliated with the
generation that was brought up using digital technology and mass media—the products of Baby Boomers,
those people born during the 1980s and early 1990s.

4. Make a synopsis of how the elements of entrepreneurship exist.

Answer
The key elements of entrepreneurial success include recognizing change, identifying market opportunities
inherent in that change, and delivering value to customers by addressing customer needs or problems
associated with the change. These four key elements of entrepreneurship include innovation, organization,
risk and vision.

PART 2. EXTEND

1. What can you say about different people who had been successful entrepreneur?
Answer
Entrepreneurship is a way of thinking. The essential parts of the entrepreneurial mindset
are collaboration, risk-taking and activation. First, you must be able to productively collaborate
[tapping into the] strengths and weaknesses within a team. Entrepreneurs must be able to “think
outside of the box,” which sometimes involves risks. You must be tolerant of unorthodox ideas.
Lastly, there would be no such thing as entrepreneurship without activation, which is turning your
thoughts and ideas into reality.

2. As a team leader or entrepreneur. How do you plan on growing your business?

Business growth can take place in many stages. These stages are a cycle, repeating each time you
implement a change to your business. Which stage is your business in today?

Start-up - The business idea is created. Plans are put in place to start operating.

Commence - The business plan is complete and targets are established.

Operate - The business is operating and coping with any problems that arise. Systems are in place and,
ideally, profits are made.

Expand - The business matures and needs to expand. Management changes or expands to deal with the size
or complexity of the business.

Review - The business is very competitive. Activities are regularly reviewed and changed to achieve ongoing
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success.

Diversify - The business diversifies into new markets, products or alliances.

Whether your business has just started or is ready to diversify, it is important to plan growth so that it is
controlled and properly managed. The following can help you plan for growth:

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