Vince Bryan R.

San Pablo
COURSE: BSBA-FM2
SUBJECT: ENTREPRENUERIAL MANAGEMENT (MWF 8:30-9:30)

1. There are 5 stages of entrepreneurial process. I will be able to define each stages based on what
I’ve learned. First is discovery, it is defined as an entrepreneurial process begins with the concept
generation, wherein the entrepreneur identifies and evaluates the business opportunities.
Second is developing a business plan, where the entrepreneur creates these major components, the
mission and vision statement, goals and objectives, capital requirement, an outline of products and
services.
The third step is resourcing wherein the entrepreneur identifies the sources of finance like
investors or applying for a loan. This is also where the entrepreneur find the human resource needed.
The fourth step is managing the company. This step is where an entrepreneur initiate the business
operations to achieve 0the set goals.
The last step is harvesting wherein, an entrepreneur decides on the long-term term possibilities of
the business, for instance its growth and development.
The entrepreneurial process is additionally a relentless series of events within which individuals
in interaction handle boundary situations; future and past, ‘we’ and ‘them’, ‘actual’ and ‘possible’, so
forth. Individuals and collectives define themselves - and are defined by others - in relevancy general
expectations on the means to behave and think. The entrepreneurial process is to be followed, again and
again, whenever any new venture is preoccupied by an entrepreneur, therefore, its an ever ending
process. Now I will explain this entrepreneurial process based on the evaluation and opportunity of my
possible business. 5 years from now I plan to build a café I know in this generation there is a lot of cafe
and people nowadays are fond of drinking coffee there are more that I want to build and make my cafe
different to every cafes and that is what discoveries meant by. I’ve discovered that I will make more
income if I come up with a different concept, I want to have barbershop in my coffee shop. I think this
idea will make my market a lot bigger. The next step is making a business plan where should I put the
mission and vision etc.. The third one is i will find an investor who can invest in my business not just by
means of cash but also help me make my business better. If I can’t find an investor, I will apply for a
loan in a bank. Fourth is I will manage my business and do my best for me to achieve those goals that
I’ve set. For the final step, if everything goes smoothly, I will set for an expansion not only here but all
over the world, like Starbucks. I know it’s a big dream. But I like to aim high.

2. Out of the nine tips for growing a successful business I picked the first one, get organized. When
I was growing up and learning, my mom always taught me how to be organized, not only in simple things
but in life. That’s what I’m going to do when I start my dream café, I should practice to balance my tasks
efficiently and effectively. When I’m organized, I will be able to go through the entrepreneurial process
easily. Because I know what I’m going to do step by step and I will keep my file arranged. But still, I want to
apply all of the 9 tips so that I won’t be able to make a lot of mistakes and to lessen the risk of failing.