ACLC COLLEGE: TACLOBAN BRANCH

REAL ST. TACLOBAN CITY

BAHRM5120: ENTREPRENEURIAL MANAGEMENT

(QUIZ 2: Entrepreneurial Business Planning)

Instructions:
1. Read Chapter 2 of your reference (Uploaded in our Google classroom).
2. Answer directly to the point, brief and substantive answers matters most.
3. Font style: Times New Roman, Size: 12, short bond paper
4. Preferably in your own understanding guided by what you have learned from your readings.
5. Strictly Tagalog and English language only.
6. Submission date is on/before September 24, 2020 (Saturday) 12:00PM.

QUESTIONS: (20pts each)

Just imagine that you are planning to launch your product (anything you like) next year, 2021.
In order for you to become successful in launching, you need to do some preparations. One of it is
creating business plan.

1. What is your understanding about Entrepreneurial Management? (25pts)

-We define entrepreneurial management as the practice of taking

entrepreneurial knowledge and utilizing it for increasing the effectiveness of new
business venturing as well as small- and medium-sized businesses.

2. Define entrepreneur and entrepreneurship? (5pts)

-The difference between Entrepreneurship and Entrepreneur is their meanings, the

former is the process of establishing a venture, or an organization, while on the other
hand, an Entrepreneur is the person is working on the process of the establishing a
venture, or an organization.

It is rightly said that Entrepreneurship is the new engine of global collaboration. By

Entrepreneurship, we mean the process of starting or building an organization, or
company to earn profits, or to serve the needs of the society, the objective depends
upon the company. The emerging importance of entrepreneurship has proved to be
both a boon and a bane i.e. It has served many advantages, as well as disadvantages.
 On the other hand, Entrepreneur is the person who starts an organization, or a venture,
hires human resources, and needs physical resources to operationalize his or her
objective, or goals. Moreover, it is held responsible for the success or failure of the
organization.

3. Differentiate Public and Private Sector Entrepreneurship. (10pts)

-While the term “entrepreneurship” is not exclusively a private sector phenomenon, it is

usually associated with private sector business activity and more specifically with small
to medium enterprises. However, over the last two decades it has appeared in the
public administration literature with increasing frequency. The recent research in public
sector entrepreneurial activity makes an exploratory comparative analysis of the key
components that are applicable from private sector entrepreneurship timely as the
topic is emerging as an area of academic inquiry and research. The purpose of this paper
is to provide a comparative analysis of private and public sector entrepreneurship using
an analytical model from private and public sector entrepreneurship.

4. Differentiate ENTREPRENEUR versus MANAGER. (10pts)

-The main difference between Entrepreneur and Manager is their role in the organization.
An entrepreneur is the owner of the company whereas a Manager is the employee of the
company. Entrepreneur is a risk taker they take financial risk for their enterprise. The
entrepreneur has a vision and focuses on achievements and profit.
Very basically speaking, an entrepreneur is a one-man show that runs entrepreneurship.
However, such a person usually has some unique attributes that allow him to be successful
in his endeavors. He is essentially an initiator and a leader. He brings business ideas to
fruition thus starting off his venture.

A successful entrepreneur is usually a responsible person. He is accountable for the success

or the failure of his venture, and he takes this responsibility very seriously. And since he is
the only person in-charge he is automatically the leader. In fact, leadership qualities are one
of the main aspects of an entrepreneur.