Pernia, Crissy M.

The Entrepreneurial Mind

BSCpE2.1A Mr. Lito Titular

01 Activity 02

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

 The modern definition of entrepreneurship later frank knight has combined the
concept that incorporates the word entrepreneur and there are many different
approaches and everyone has a sense of success through his or her
knowledge and past experience. For me, the modern definition of
entrepreneurship is the determination to seek opportunities, and having the
resilience to push the idea to the point of reality have been combined into a
special vision full of entrepreneurs.

2.) Give one (1) long-term effect of the entrepreneurs’ contributions to the economy.
 There are way too many long-term effect of what the entrepreneurs had
contributed in the economy and one of them is they create social change or
they initiate the idea of being a trendsetter. With their unique offering of fresh
goods and services, entrepreneurs are abandoning tradition and indirectly
supporting freedom by reducing dependence on systems and the
obsolescence of technology. This results in improved quality of life, improved
morals and greater economic freedom.

3.) Entrepreneurship spectrums have similarities with each other. In your opinion,
what are the major differences that made entrepreneurs choose their respective
spectrums?
 I believe that it is depend on entrepreneurs’ state of living that made them
choose their respective spectrums. For example, my family and I share the
same passion when it comes to cooking, from that we will think and
eventually create a business because we want maximize the well-being of
 current and future generations in a transgenerational perspective.
Entrepreneurs mostly get their ideas and inspirations based on where they
are or what kind of people they are surrounded with.

4.) Based on the outcomes of the Industrial Age, is it vital to implement sustainable
development? Why or why not?

 Yes, sustainability is important in every aspect of living because of this, we

grow and we improve, so, why not have it in sustainable. These days, when
the world needs sustainability the most, we must focus on it and put our
expertise, ideas into innovating new, better ways to make this planet a
healthy place.

5.) Would it make a difference in the environment if only small businesses were to
implement sustainable development? Why or why not?
 Perhaps, the economic growth will slow down and we will not have enough
resources for our needs and wants. Sustainable entrepreneurs have another
way of doing business that also helps them to make a profit. Generally, a
major business strategy is to do whatever it takes to make a profit.

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?

 To measure the financial, social, and environmental performance of the

corporation over a period of time we need to prepare profit refers to the real
economic value created by the business and enjoyed by the host society.
People refers to the impact that a business has on people within the business
(employees) and people outside of the business (community), and planet
refers to environmental stewardship.