GROUP 5 BSA - 1M

Erica Vitug
Janina Lingad
Mary Anne Meneses Intal
Ronalyn Armenta
Kervin Escoto

1. How do we examine economic globalization considering our colonial mentality? Give concrete example and
the current state or practice of your example.

- As we are colonized by other countries long ago, many aspects of our lives was affected, our beliefs, choices,
and even our lifestyle. It's seems even if we are already is so-called free country we still engage ourselves unto
our beliefs and choices. Our economic globalization became one of the most affected part of us being a
Filipino, we can see that in our everyday life situations and choices, we are so independent to other practices
of culture even with our choices of products food. It has a great impact to our economic growth that we are
focusing and always chooses to buy goods from other countries rather than our very own. Example: Instead of
buying our own made shoes or other products that are produced in our country, we still choose to buy the
product of other country thinking that these are high quality and besides we can able to gain more fame by
having an imported and branded materials from other country.

2. How does the low income become an investor? Cite 2(local) businesses or propietor on what methods they
used. Give evidence that this business truly exist.

- First, save something every week or month. Since the only way to get started with investing is to have some
savings, you will need to save a fraction of your paycheck weekly or monthly, depending on how you are paid.
Second, start small. If you wait for the time when you will have up to half a million dollars before getting
started with stock investing, you might never get to invest in stocks because that time might never come.
Rather than wait endlessly for that to happen, you can start small by finding low cost stocks to invest in. And
last, Be creative. There are times when breaking away from traditional rules and practices bring huge benefits.
It happens in stock investing, too. Always think outside the box, especially since you have very little money to
invest. Consider investment opportunities that you get explore with your low capital and still fetch huge
returns from in the long term.

National Book Store, Inc.

National Book Store (NBS) currently has 128 branches all over the Philippines. They are widely known
especially to students since most of the things that they provide are of their necessity.

What’s good in this company is the story before it came to riches. The person behind the success of NBS is
Socorro Cancio-Ramos, a woman who started as a saleslady in another bookstore. When she got married, her
family has put up the NBS in Manila. However, selling books is not very popular during World War II so she
decided to sell something other than books. Fortunately, all their stocks were sold during the American era
and they have continued to build a small tent to continue their business. Unfortunately, their small tent was
destroyed by a typhoon sooner. But with great perseverance and effort, NBS has reached its place today as
one of the greatest and successful companies here in the Philippines. (Roel Manarang, n.d)

The method she use is start small business.

SM

This company owned by Henry Sy is one of the biggest companies in our country. This is a retail center where
various brands of clothes, footwear, bags, accessories, toys, gadgets, and other types of products can be
found. Many entrepreneurs were inspired by this man and, until now, most entrepreneurs know him. His
family originally had a sari-sari store. Henry Sy stayed in the country to start a new business while his father
headed back to China. He didn’t lost hope despite the pain and hardship brought by the war. Today, SM is one
of the multibillion-dollar businesses and is very popular all around the world. This proves that perseverance,
efforts, and passion are few of the most important traits that you must have to be successful. (Roel
Manarang, n.d)

The method he use is start small business.

3. Explain: “A society that is more steeped in family system and traditions may be less willing to adopt new
technologies and the new social systems that often accompany them.” Give real facts, situations, country
could testify this thought.

- Roger said in his study, we see that not everyone will immediately adopt a disruptive idea despite obvious
benefits. Over years of research, Rogers identified some fascinating personality traits that help us organize
how people will accept a new innovation. It turns out we approach innovations in the following ways.
Innovators, this is the first individuals to adopt an innovation. Innovators are willing to take risks, youngest in
age, have the highest social class, have great financial lucidity, very social and have closest contact to scientific
sources and interaction with other innovators. Early Adopters, this is the second fastest category of
individuals who adopt an innovation. These individuals have the highest degree of opinion leadership among
the other adopter categories. Early adopters are typically younger in age, have a higher social status, have
more financial lucidity, advanced education, and are more socially forward than late adopters. Early Majority,
individuals in this category adopt an innovation after a varying degree of time. This time of adoption is
significantly longer than the innovators and early adopters. Early Majority tend to be slower in the adoption
process, have above average social status, contact with early adopters, and seldom hold positions of opinion
leadership in a system. Late Majority, individuals in this category will adopt an innovation after the average
member of the society. These individuals approach an innovation with a high degree of skepticism and after
the majority of society has adopted the innovation. Laggards, individuals in this category are the last to adopt
an innovation. Unlike some of the previous categories, individuals in this category show little to no opinion
leadership. These individuals typically have an aversion to change-agents and tend to be advanced in age. (as
cited in Anonymous, n.d)

References
Manarang, Roel, (n.d). 7 Successful Businesses in the Philippines.

Retrived from: https://tycoon.ph/successful-businesses-philippines/

Anonymous. (n.d). The 5 Stages of Technology Adoption.

Retrived from: https://ondigitalmarketing.com/learn/odm/foundations/5-customer-segments-technology-

adoption/