Gelacio, Jan Urial A.

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End of Chapter Activity

1. List down the entrepreneurs that you know.

Elon Musk who owns SpaceX, Tesla and other businesses.

Bill Gates who owns Microsoft.

Henry Sy who owns SM.

Tony Tan Caktiong who owns Jollibee.

Socorro C. Ramos who owns National Bookstore.

2. Who among them has impressed you the most and why?

For me, the person who I am most impressed is Elon Musk. We all know that he
invented cars for the future which do not consumes non-renewable resources but uses
electricity for cars to start. His platforms are the future. Why? Because he promotes the idea of
innovating and thinking ahead for the state of our earth in the next century. The SpaceX which
envisions to make a transportation to build outside the earth and travel through mars in the
future is a great concept. Our technology today is so advance that we can consider it convenient
to live even it will not be step up to greater heights. Maybe it is time for us to think outside the
box and work about the things outside the earth.

3. Would you like to have more self-fulfillment autonomy and control over your life?

Yes, well it is more fun to consider your path that to be chained upon works. Following
your dreams and passion is much better than fulfilling your work you do not enjoy it. Even we
say that we need to work from 8 hours a day is not convincing that we will secure our lives for
the time that we retire. We should invest in business so that the money will work for us instead
of we work for money.

4. Have you ever bought something and then sold it for a higher price? Describe the process.

Most of the time, the things that I buy are product that depreciates at a certain time. In
short, I bought it in a high price but as time passes, the price depreciates. In some cases, I have
encountered such things that are bought at righteous price and was sold for a higher price. This
are the things that has market value that as time passes, the value increases. One examples are
paintings and woodcrafts.

5. Do you think that you have the need for achievement, risk-taking personality, internal locus of
control, tolerance for ambiguity and Type A behavior? Explain each.

I do think that I need each of these as a person. These aspects are the one that will lift
you up in the world. Not just an Entrepreneur but also a person in a community. If I have these
Gelacio, Jan Urial A.
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traits, I consider myself independent, innovative, optimistic, determined and action oriented
person.

6. Is your goal to build a large, enduring company, carve out a niche, or merely turn a quick profit?

Yes, who does not want to build a business that you earn more than enough profit? As a
person we all want to travel and experience the joy of life but some of us does not have the
capability of it due to 8 hours of work a day. As I said before, I want money to work for me not
working for money.

7. What do you think are the success characteristics of entrepreneurs?

I think its their optimism on a certain goal. Entrepreneurs have vision and plans on their
product. They are versatile and they are used in rejection given that they are risk takers. And
lastly, they are flexible. They can adapt on the changes in the world. They go through the waves
of development and change and adapt from it.