The Entrepreneurial

Mind (Module 3)
Part- 1

Prof. Romeo G. Pajigal, MBA, CMITAP

 History of Opportunity
• As discussed in the previous section, the term
entrepreneurship was invented last 17th century
(1601-1700).
• However, much archaeological evidence can
prove that business activity has existed since
prehistoric times and experiences continuous
evolution.
• As this happens, opportunities tend to evolve
The 17th century was a period of huge political
also depending on the changes in human activity and social upheaval (sudden violent/disruption).
From an age characterized by the Crown's tight
and behavior. control of the state, the century witnessed years of
war, terror and bloodshed that enveloped the
• Thus, it can be implied that entrepreneurship and kingdom.

opportunity have a positive

correlation/relationship in terms of evolution.
As shown in the figure above, opportunity exists since prehistoric times. People (the term entrepreneur is not yet
coined/invented) created value by exploiting every opportunity created by numerous changes occurred which was
influenced by sumptuous (expensive-looking) factors. Also, human survival played a crucial role in the evolution of
opportunity and the creation of value from it since it prompts them to believe that entrepreneurial activity enables them
to increase the chance of surviving the world that is full of uncertainties and risks.
 Creating Value from Different Periods

The Hunter’s Age:

• During this period, the ability of people to create value depends on the
nature’s ability to provide food and other natural resources.
• Also, during this time, people realized that it is easier to take other peoples’
crops and other essential resources for survival. With that, war becomes
popular and wealth bags a bad reputation.
 Creating Value from Different Periods
• The Warrior Age:
• Given the fact that stealing other peoples’
resources is common during this time, people seek
for refuge and created a stable form of society and
maintain a steady supply of warriors to maintain
safety way of living.
• People exploit this opportunity as Kings award
warriors who bring victory with land and slaves.
 Creating Value from Different Periods
• The Craftsman’s Age:
• As war become a common event in society, some
people (peasants who are too smart but not
aggressive to become warriors) realized that Kings
and warriors will not plunder or kill them.
• Thus, these people exploit this opportunity by
offering their ability to create decorative crafts and
make things beautiful and attractive.
 Creating Value from Different Periods
• Explorers’ Age:
• As cities continuously grows, resources become scarce
and people tend to seek new land for them to plant
crops and other resources for their survival.
• This scenario prompted them to construct ships for
exploring unknown lands.
• When they return, they bring valuable raw materials
such as silks and spices which brings wealth and
money.
 Creating Value from Different Periods

• Merchants’ Age:
• As far away lands are discovered, people did
not mind the risk of travelling and brings
back valuable spices and other materials
such as porcelain, gold and salt.
 Creating Value from Different Periods
• Mechanization Age:
• As craftsmen continue to seek new knowledge in
perfecting their skills, they created machinery.
• With machines, people tend to mass produce
things and materials thus creating value faster
than ever before.
• Thus, owning a machine became the next big
thing.
 Creating Value from Different Periods
• Industrialization Age:
• As machines become more and more
sophisticated, brought by electricity, production
reach fastest rate.
• Industrialist become big guys as they can
possibly predict what’s next.
 Creating Value from Different Periods
• Oil Age:
• Since mass production becomes visible, cheap
things such as cars provided new opportunity for
people to exploit and create value from it.
• The demand for oil becomes increase at
unprecedented rate and people realized that by
drilling oil you can be the new big guy of society
(Getty and Rockefeller Family).
https://youtu.be/ZGZdGmPDH1E
 Creating Value from Different Periods
• Corporate Age:
• During this time, people realized that they have the
ability to serve multiple target market by building
corporation that is capable to establish production
and distribution office from different regions.
• Consumers become more exposed to new and
sophisticated products.
 Creating Value from Different Periods
• Financial Age:
• As corporation aspire for growth and expansion,
capitalization is of another issue.
• Financial institutions such as banks provides the much-
needed capital for such activity.
• Also, corporations with less business activity and with
declining financial performance is another opportunity
for financial institutions to purchase, restructure and
revive its operations.
 Creating Value from Different Periods
• Information Age:
• As corporations grow and employ more and more
people, information becomes vital and significant.
• Holding essential information such as customer
information is another way of winning the game
and competition.
• This scenario leads to the development of
technology that can handle massive data and
information.
 Creating Value from
Different Periods

• Start-up Age:
• As some people realized that employment is not the key for their success, they tend to realize
that entrepreneurship is a key to fulfill their dreams.
• People decided to scan environment for any possible opportunities and created value and
made money from it and technology contributes to lowering the cost of starting a business.
• Becoming a successful start- up provides prestige and honor to them hence, encouraging
them to do so. Today, start-up is the most common way of creating value and making money.
The Entrepreneurial Mind
(Module 3)

PART -2

Prof. Romeo G. Pajigal, MBA, CMITAP

Documentary Video 1: For Survival: Scarcity or Ingenuity
https://youtu.be/x7G9v6JdYwc
Because more than half of Israel is desert,
the lack of clean water is a life-or-death
issue. Gordon Robertson examines several
of the ways that Israel conserves water,
including:
• Desalination- the process of removing
salt from seawater.

• Drip or trickle irrigation- a system of crop

irrigation involving the controlled delivery
of water directly to individual plants
through a network of tubes or pipes.
• recycling.
Agriculture in Israel
RED AND BLACK TOMATOES IN ISRAEL
FLOWERS IN ISRAEL
In 1957, Israel and
the Philippines
established full
diplomatic
relations, and
signed their 'Treaty
of Friendship' on
February 26th,
1958.
Top 10 World’s Billionnaires
-(Bloomberg Report)

https://www.bloomberg.com/billionaires/
 Documentary Video 2: Turning Wild Imagination into Reality
https://youtu.be/mh45igK4Esw

Elon Musk: How I

Became The Real 'Iron
Man'

"Bloomberg Risk Takers" profiles Elon Musk, the entrepreneur who helped create PayPal, built
America's first viable fully electric car company, started the nation's biggest solar energy supplier,
and may make commercial space travel a reality in our lifetime.
 SpaceX CEO Elon Musk gets internet access for Ukraine; Social media blocks Russian state media ads

Latest News: 28 February 2022

https://youtu.be/PNQHuFciLm8
Comments:
“Great humanitarian move-
communication now is not a problem.”

“A man of action. He donated his

internet, to access his satellite.
Ukrainian said, " Russia has knocked our
internet, Elon can you help us?" Elon
Musk looked at his buddy and said, "hold
my beer!”

“Elon is Iron Man, always trying to

improve mankind.”
There were plenty of new developments following Russia's invasion of Ukraine. SpaceX's Elon Musk responded
to a Twitter request for internet access. Tech giants, like Facebook, Twitter and YouTube, blocked Russian state
media ads, and Russian airlines were restricted on destinations.
 A Message from one of the richest billionaire in
the world.
https://youtu.be/a_63VIDJbWw

"Your choices construct your life" "you can

only be proud of what you earn, not what
you're given”

“Choose wisely what you do with your

time, every little choice we make today
defines the person we're choosing to be!
Find meaning and purpose in everything
you do, do things not just for the sake of it
but because you LOVE to do them.”

“In the end we are our choices.”

Documentary Video 3: From Failure to
Success: Learn and Grow
https://youtu.be/lYGGpc2mMno
 Five life lessons that we can learn from Ma’s talk:
Source: https://time.com/3423708/5-life-lessons-jack-ma-alibaba/

1. Think ahead.
“We got successful today not because we did a great job today—we had a dream 15
years ago,” said Ma, whose company, Alibaba had
the biggest IPO ever at nearly $25 billion.
2. Money isn’t happiness—it’s responsibility.
“When you have more than one billion dollars, or a hundred million dollars, that’s a
responsibility you have—it’s the trust of people on you, because people believe you can
spend money better than the others.”
3. Expect the unexpected.
“Life is like a box of chocolates,” Ma said, drawing from a line from
one of his favorite films, Forrest Gump. “You never know what you’re going to get.”
Five life lessons that we can learn from Ma’s talk:
Source: https://time.com/3423708/5-life-lessons-jack-ma-alibaba/

4. You don’t need connections to achieve success.

“We don’t have a rich father or a powerful uncle,” said Ma, who started Alibaba out
of his apartment in Hangzhou, China. “We only have the customers that support
us.”
5. To change the world, invest in youth.
“The secret here is helping those who want to be successful,” Ma said. “Help young
people. Help small guys. Because small guys will be big. Young people will have the
seeds you bury in their minds and when they grow up they will change the world.”
 What Happened to China's Superstar
Entrepreneur Jack
https://youtu.be/glDfJOmr4C4
Ma?
After Jack Ma
criticized Chinese
regulators, Beijing
scuttled the initial
public offering of his
fintech giant Ant and
he largely disappeared
from public view. Wall
Street Journal looks at
recent videos of the
billionaire to show
how he got himself
into trouble.
Documentary Video 4. Innovation for Competition

Frito King owner Fritz Capulong shares how he found success as an entrepreneur at the age of 40. He
shows how he prepares his products and differentiates it from those sold in other stores. Capulong also
gives his tips for those who want to start a food business.
 Documentary Video 5. From Rugs to Riches
https://youtu.be/ROfEORJ2XTk

MANILA, Philippines - A
grade school dropout turned
garbage collector is living
proof that one can make money
from trash.
 Video Documentary 6: Health to Wealth
https://youtu.be/sL85VvO4Jfk

"Rated K" features the story

of "KA REY HERRERA", a
cancer survivor who became
successful after putting up
herbal supplement business.
Video Documentary 7: The Mogul of Southeast Asia
https://youtu.be/D2WP9xFG0zc

“There is no such thing as

overnight success or easy
money. If you fail, do not be
discouraged; try again. When
you do well, do not change your
ways. Success is not just good
luck: it is a combination of hard
work, good credit standing,
opportunity, readiness, and
timing. Success will not last if
you do not take care of it.”
Video Documentary 8: The Man Behind the Famous
Bee (Jollibee)
https://youtu.be/F2B46bo_uXY

Jollibee founder Tony Tan

Caktiong succeeded in
creating a fast-food Giant
in the Philippines.
 Let’s Check and Analyze Activity

1. For EACH of the documentary videos you just have watch, provide your reflections
anchored on the theories of entrepreneurial mind you studied? What are the real-life
lessons can you learn from these documentary videos?
2. Do you think these videos can help improve yourself in your specific endeavors,
becoming an entrepreneur/intrapreneur in your respective fields (e.g. pharmacist, nurse,
criminologist, business, psychologist, engineering, HRM, social work, architecture,
educators and among others)?
3. What do you think why majority of the successful entrepreneurs in the Philippines are
Filipino-Chinese and not full blooded Filipinos? Please explain and justify your answer.
(10 points)
4. Five years from now, you will graduate from the University of Mindanao. You have two
options; one is to be employed or the other one is to become the employer? Which path
will you take? Explain!
End of Presentation