Mark Wilson H.

Alvarez
BSHM 3.1
The Entrepreneurial Mind
01 Activity 2

1. Based on the discussion, what is the modern definition of entrepreneurship?

 Entrepreneurship in the modern world is the characteristics of seeking

opportunities, taking risks beyond security, and having the tenacity to push an idea
through to reality combine into a special perspective that permeates entrepreneurs.

2. Give one (1) long-term effect of the entrepreneurs’ contributions to the economy.

 Entrepreneurs contribute greatly to national development. Entrepreneurs generate

income and wealth that contribute to the growth of a nation. Entrepreneurs also
contribute to increased employment and higher earnings contribute to better
national income in the form of higher tax revenue and higher government spending.
New and improved products from the entrepreneurs enable new markets to be
developed.

3. Entrepreneurship spectrums have similarities with each other. In your opinion, what are
the major differences that made entrepreneurs choose their respective spectrums?

 In my own opinion, entrepreneurs choose their line of entrepreneurship spectrum in

a way they think it is more profitable, easy to manage, in demand in the target
community, accessibility to the resources (capital, raw materials, etc.) and target
business stability and sustainability.

4. Based on the outcomes of the Industrial Age, is it vital to implement sustainable

development? Why or why not?
  Yes. To avoid overexploitation of natural resources. So future generations will also
have the resources that they need to improve the quality of life. Imagine that our
present generations use all-natural resources for the improvement of our lives, what
do you think will happen to future generations? What will be their options to
improve their quality of their daily living? By implementing sustainable
development, it can ensure that future generations will have the enough resources
for the development of products that can improve the quality of their lives.

5. Would it make a difference in the environment if only small businesses were to

implement sustainable development? Why or why not?

 I believe, yes it can make a difference.

 It is like as now balling effect or butterfly effect wherein small change can have a big
impact, and this big impact can even have a bigger impact. Or sometimes we can
view it as a grain of rice that when it grouped together it can be a meal for a family.

6. Companies are now urged to implement the triple bottom line into their culture. What
are other indicators that could be used to evaluate a company’s sustainability?

 Conformity. The first indicator for a company’s sustainability is about respecting the

rules and the national or international standards. For example, a measurable
indicator (KPI) can be the quantity of fines for infractions.
 Use of materials and Performance. The second KPI introduces by the Green
Tire measures the number of resources and raw materials that are used, the amount
of waste and the emissions that they generate. An indicator that evaluates both the
environmental and economic part of a company for defining it as “sustainable”.
 The supply Chain and the Product Life Cycle. This indicator underlines those aspects
that are about the company itself. For defining a company as “sustainable”, it is
important to consider the whole product life cycle, from the choice of raw materials
to the final disposal. For this reason, it is important to acknowledge if the suppliers
use renewable energy sources; the amount of carbon dioxide produced by moving
the products; if the product may be recycled or reused.