Name: Dino A. Beringuel Course, year and section: BS in Crim.

2-A

The Entrepreneurial Mind

Module 4 Learning Task

1.) I have prepared the mission statements of the 2 companies, namely: Honda and Yamaha
motors. Their mission statements are as follows accordingly:

“Maintaining a global viewpoint, we are dedicated to supplying products of the highest quality, yet at
a reasonable price for worldwide customer satisfaction.” – Honda
“Yamaha Motor brings pleasure to millions of people by using ingenuity and enthusiasm to
constantly surpass customer expectations, thereby enriching their lives.” – Yamaha

These two companies both have mission statements that are brief and concise. The are put in a
very simple sentence structure that a person can read and immediately understand. It is direct to
the point with no segue, as mission statements should be. You may notice that their mission
statements are simplistic, but the measures they take to achieve this ‘mission’ is the complete
opposite of simple. Especially from these two prominent companies. Their goals are for the
betterment of their customers, and for me, that is a very admirable objective to have as a
company.

2.) To put it vaguely or in general, each form of ownership type has its advantages and
disadvantages. To add to that, the success of a business depends on the conditions of the
environment it is established in. So, when indecisiveness takes an entrepreneur off guard, his
business venture is destined for failure. To be specific, Let’s assume that an entrepreneur chose
to have a partnership with a fellow entrepreneur of the same market. All goes well in the
beginning until both of them arrive at a ‘cross-road’, and the conflict on which path to take their
business to. If they fail to settle their conflicting ideas, their business fails. If they take the wrong
step and the market condition shifts far from their projections, their business fails. Basically,
consequences are everywhere in entrepreneurship. Taking the wrong step may lead to one with
minor or major consequence.

3.) Based on my observation, sole proprietor businesses are most popular due to the subject of cost.
People can start doing business on their own with little capital, and roll with it until they go big.
They have all the control with matters concerning profit and where to invest them in. Basically,
solo proprietors can be whatever they want to be and do whatever they want to do with their
business. Having freedom is fun, and with freedom, there is less stress. Therefore, doing
business is satisfying.