Name: Rogelio O. Bernaldez Jr.

Course/ Year/ Section: BSOA – 4C

Date: October 10, 2021 Subject: Entrep. Behavior&Competencies

CHAPTER 1: CONCEPT OF ENTREPRENEURSHIP

Activity 1
Instruction: Answer the following question below.
1. What is entrepreneurship and who is an entrepreneur?
Answer: The word entrepreneurship originates from the French word entrependre which means “to
undertake”. Apparently, entrepreneurship can be defined as the capacity and willingness to develop,
organize, and manage business venture along with any of its risks in order to make a profit. It is also
refer to the process of recognizing an opportunity, testing it in the market and gathering the resources
necessary to go into business. However, it bringing together with creative and innovative ideas and
actions with the management to mobilize the appropriate people, money and operating sources to
create wealth in the process. Otherwise, it is the process of creating something new with value by
devoting the necessary time and effort, assuming the accompanying financial psychic, and socials
risks, and receiving the resulting rewards of monetary and personal satisfaction and independence. It
can help by saving money, for later use just for our needs and for the future year. Furthermore, it is
the act of starting and running your own business to be unique and wish to work yourself in your own
dare. Fortunately, it is an important aspect of social, economic and community life. It can be viewed
as a critical factor to economic growth as well as a way of addressing unemployment. Consequently,
it is the field involved the study of sources of opportunity, ability to improve standard of living, allows
people what they want to follow their passion, and key of productivity and effective competition.
On the other hand, an entrepreneur is an individual who undertakes the creation, organization,
and ownership of an innovative business with potential for growth. It is also a person who starts a
business and is willing to risk loss in order to make money. Nonetheless, it may be male or female,
young or old, professional, college graduate or school dropout, comes from A, B, C, D or E economic
group. He is an owner-manager, creative, innovative, begin something new, and operates a business.
Commonly, his kind of business is single proprietorship, because he does everything from production
to selling. Meanwhile he have a strong desire to succeed, take responsibility and a high level of
confidence. The entrepreneur is usually seen as innovator, a source of new ideas, goods, services,
and procedures to do. Great entrepreneur have the ability to change the way we live, and work on
local and national bases. More so, he is also responsible for research and development system in the
trade. Eventually, he look for new opportunities, and work hard just to get the goal. Thus,
entrepreneur is a person who provide solutions, never give up, adaptability, and strive harder for the
sake of success.
2. What is the contribution of small and medium scale industries to the economy of the
country?
Answer: Actually, small and medium scale industries are vital component of the economy and
important in the country as well. Technically, the contribution of small and medium scale industries to
the economy of the country is that it will maintain revenues, assets, help widespread equal
distribution of income and wealth. Nevertheless, it is the backbone of economy in terms of its
contribution towards GDP (Gross Domestic Product), employment generation and export
development. According to the OECD report, enhancing the contribution of small and medium scale
in a global and digitalised economy in the OECD area probably it has an account for approximately
99% of all firms. Anyway, small and medium scale industries contributes greatly to job creation,
creates a healthier economy, dearth alleviation, and have strengthen support with regards to
economy of the country. Additionally, they can help release scarce capital towards productive use,
and utilize resources more efficiently to the full capacity. Luckily, small and medium industries provide
the supply of the products to customers, provide personal service, serves as a means of earning to
an unemployed individual, provide employment to other people, and of course pay taxes to the
government which are significant to the economy. Lastly, they help reduce poverty by creating jobs
for the country’s growing labor force and stimulate economic development in rural and far-flung areas.
Thus, small and medium scale industries help economy increase, relevant contribution to economic
growth, and prosperity of the country as well as an opportunities to achieve financial success.
3. How do you define a small and medium scale industry?
Answer: Certainly, I will define small and medium scale industry which are plays an important role
in the economy of the country. They can also be defined as the industry which provide services,
perform manufacturing and production on a small nor medium scale. In other way, they are non-
subsidiary and independent firms which employ fewer than a given number of employees. They are
also widely dispersed across the country and produces diverse range of product and service. To
expound this, when you say small scale industry also called as “small business” means an
enterprise that employs a small number of workers and does not have a high volumes of sale. Such
enterprise is generally privately owned and operated sole proprietorship, corporations or partnerships.
It was taken to be legitimate instrument for generating employment opportunities and enabling big
dispersal of industrial production. But it improves the growth of the country by increasing urban and
rural growth. Truly, it refer to business whose operations involve less capital investment, lower labor
engagement and limited integration of technology. On the other part, medium scale industry is a
business that typically results from slow and steady growth that outcome from a successful business.
As a company earns more revenue, it sets aside the capital needed for buildings, equipment and
more employees. Literally, bridging a gap between small business and large corporations. It is also
the average of industries that have a higher production capacity than small scale industry. Knowingly,
it helps enlarge the volume of employment with only scarce capital. Generally, small business are
those with 100 employees or fewer and medium business are those between 100 and 999
employees. Eventually, these can be used by international organizations as well such as World Bank,
United Nations, and the World Trade. Thus, small and medium scale industry can help rise of the
country, way to have prosper business, and applicable in the business.
4. How does an entrepreneur influence the economic growth of the country?
Answer: Entrepreneurs are vital in the economic development of the country. For me, entrepreneur
influence the economic growth of the country by contribute new products, new services, and develop
new markets which can grow an economy. It also provide employment and income that moves the
economy forward. Besides, entrepreneur locate and exploit opportunities which can help the
economic rise. At the same time, investing in products and services people need, new technologies
promote efficiency, technological improvement, and have increase amount of physical capital goods.
It is essential that entrepreneur generate products or service valuable for the comfortable and
luxurious life of consumers where impact to the economic. More so, it may influence a country’s
economic growth by bringing new methods, production process to the market, amplifying productivity
and competition more broadly. Lastly, an entrepreneur invent a good product and services that are
demand and usable to the people so that it can produce cascading effect, and furthering economic
development. Hence, entrepreneur boost economic growth by establishing innovative products,
services and technologies, increased competition from entrepreneurs challenges existing firms to
become more competitive, and of course entrepreneurial activity raises the efficiency of firms and
economies. So, these are the ways that entrepreneur influence the economic growth of the country
which are relevant and keep on mind.

5. If a big mall will decide to close because of internal management problems, what do you
think will happen to the suppliers of products to the mall?
Answer: In fact, supplier is one who supplies or a providers of products to the mall. Mall closures
have terrifying implications to the suppliers. Unfortunately, if a big mall decide to close, eventually, the
suppliers of products to the mall will be sad, mad, devastating all of them and suffer the
consequences suchlike the profit will decrease, the products will be useless nor ruin, they can’t gain a
money that will down their income and loss their livelihood as well as they will think wisely about the
strategies they will do to save the wasted products and money. Otherwise, potentially affecting
thousands of jobs and earnings of the suppliers. They will also be disappointed and have faith that
the mall will be open again. In addition, it may hard to cope up again but I do believe in every
problems and challenges there is a way to solve it. From that, the best way to solve this situation is
that they will move hurriedly to find another trusted or loyal mall to be supplied in which no matter
what going through and occur a problem, still they will allow to supply. Hence, this situation shows
that we will never lose hope, accept the fact, it’s normal to flaunt your emotions, think properly to do
to overcome that certain circumstance, and everything happens for a reason.
Activity 2
Instruction: Indicate a check if the sentence is correct and an x-mark if the sentence is wrong.
 1. Entrepreneurs supply the market with goods and services.
 2. Purchasing power means the power to buy.
 3. The small scale entrepreneurship offers an opportunity for employment.
 4. The production of candies like pastillas de leche falls under entrepreneurship.
 5. The supply of halo-halo during summer is increased because of the entrepreneurial
traits of people in the community.

Activity 3
1. List down ten entrepreneurs in your community and present in class the kinds of
businesses they are engaged on. Find also their reasons for engaging in business.
Answer:

The 10 Entrepreneurs and Reasons For Engaging in Business

Kinds of Businesses
Claire Anne Deloso
Javy’s Home made Treats
(Cakes & Pastries)
Kim Lim Adams
Hardware Business
Sam Amper
Kakanin/ Fruits Corner
Perigrino Delig
Home-made Ice Cream
Business
At first, it is just my hobby and passion to do this. Then, I realized
and decided that I need to make it a business for the reason of extra
income of mine and I want to develop baking skills as well. Through
this business, I will be able to provide the needs of my family
especially to my one and only son right now. Most of all, I am glad to
serve others specifically able to cater and make my customers
happy with their orders. Their satisfaction made me inspire and
eager to learn more in making my products better. Lastly, I also
experience difficulties like baking the cake with a toddler on the side
with no helper and of course the time management as well.
I engaged this business because I want to serve other people with
regards to their materials needed in the house, and it inspire me to
do this business. I think it is applicable right now. I want also to
create a lasting legacy for my son and for the future endeavours.
Through this, I will help improve the lives of the surrounding
community by bringing services closer to them. I can gain also an
income that will help my family and especially to my son. I will
manage it well and set my own schedule. At last, I will provide jobs
for those who have families and loves ones.
We engage to this kind of business because we want to serve a
palatable dishes and freshly fruits picked from the farm to the
people, then we have also the spirit of providing food in a very
affordable size, most especially that we want to empower ourselves
to be a farmer as a supplier itself and as a passionate cook. This
business of ours have lot of opportunities particularly if you are
hardworking, and support our needs. But challenges is always there,
so, the challenge we face is that sometimes we experience lack of
budget, mismanagement and the presence of competitors.
The reason why I engage this business because my older brother is
a vendor of ice cream in Cagayan and he took a vacation here. We
talk about business and he say you should make an ice cream for a
business cause its trend, best for summer, and for sure it will sell
here. So, he teach me how to make and do it properly and until now
I’d still run it. Basically, it was my brother suggested and influenced
me to do this. Actually, this business for me gave an opportunity to
raise my family, help my daughter to continue her college, provide
what we need, and it can benefit other business as well. Unluckily,
the challenge we face is when season of rainy days.
 Honestly, I engage this business because it is not need a big profit,
what you need is focus and ways to sell this product. It can utilized
to the people with regards to their viand. Most of all, I can be able to
Liza Bernil manage it well. In this business, I can free for our viand, I mean I
Selling Frozen Foods and only sometimes use my money to buy, I can buy also the necessary
homemade chicharon things of mine, and I will not waste and chase my time. Of course, I
can meet and communicate other people that will create a
friendship. The problem of this is that the time especially if there are
lots of orders, and there is a time that you have no enough profit as
well.
I engage this business because my husband start at all, and I
continue his business and I love doing it. It can help me to sustain
Maria Luz Amplayo my needs, and it is for my living that I will survive. Through this
M & M Store store, I can have my own bank savings, and not hard to find for the
essential things. And now, I am comfortable with this business of
mine. Although, some people debt is not yet pay yet I will do my best
to solve this.
To have additional income except to salary and to maximize time
while at home. It gives earnings that we can spend for every needs
and helps me as individual to enhance my idea about business. It
Lheine Obusan also helps us to save money for future use. Further, it is a way to
Lheine’s Sari-Sari Store improve myself to do more and go out to my comfort zone. I met
people who can teach me and guide me on how to improve small
business. Precisely, it needs time, and pricing strategy.

We engage this business because it has been passed on by my

cousin’s mom. They started this business and we only continue it.
Fortunately, we love this business and still we’re doing it now.
Cheri Acero Having this, we are able to sustain our daily needs from the profit we
Venturing into Food business get since our main source of income is coming from selling
specifically Barbeque barbeques. Not only we get to fill in the food on our table but we also
(Kalenderya) get to have friends through our customers especially our frequent
buyers.
As an individual, I am very grateful for all things that I have achieved
in my life and will continue to achieve more if given more
Josephus Deloso opportunity. Personally, I engage this kind of business because I
JD EMPIRE want to showcase my skills in designing, I want to enhance more on
Event Designer this and I want also to see my future customer how I love doing this.
(Catering and Florists However, I am also capable to do this business and I want also to
Service) be happy of my customers in doing this. Most of all, I work hard on it
just to have this business of mine. Truly, it helps me to earn a profit
or income, to be self-reliant, and independent. By this, I receive
recognition for my efforts and contribution in a certain event. I also
experience problems because I am the only one to think what look
like. Just like I working with tight deadlines, struggle, and work under
pressure but I control and manage those.
I get into business for a variety of reasons, but the most compelling
motivation for many is to make a good living. I want to show people
Marian Tinio what I am capable of, even if the business is barely surviving
Small business specializes on because it is our passion and we thrive on it. I am grateful with this
beauty products such as business because I can earn money and help our family or my
soaps and skin care sets parents with their needs and wants, as well as buy what we want for
called Chloe ourselves. I am become independent and risk taker through this
business. I will continue it no matter how hard it is so as to challenge
myself and become a better business woman in the future. And most
of all, to build my own big business someday.
 2. A. Read R.A 9178 (done read)
B. What is the main objective of the law?
Answer: Republic Act 9178 is also known as the “Barangay Micro Business Enterprises (BMBE’s)
Act of 2002”. It includes a directory of the key people who may be contacted for further information
about this Act and its implementation. BMBE’s are essential to the country’s economic development
since they effectively serve as seedbed of Filipino entrepreneurial talent. Clearly, the main objective
of this law is that it aims to integrate micro enterprises in the informal sector into the mainstream of
the economy, promote the establishment of barangay micro business enterprises, providing
incentives and benefits. Concurrently, generate much-needed employment, alleviate poverty, and
hasten economic development by encouraging growth of BMBE’s. At last, strengthening BMBE’s
would mean more jobs, livelihood and a better quality of life for Filipinos.
C. Mention three major incentives from the law. Explain the advantages of these
incentives to a small business enterprise.
Answer: Registered BMBE’s or the law can avail the following three major incentives with the
advantages below:
 Exemption from Taxes and Fees – All BMBE’s shall be exempt from income tax for income
arising from the operations of the enterprise. The LGUs are encouraged either to reduce the
amount of local, taxes, fees and charges. Thus, it may provide complete relief taxes, reduced
rates and have a good taxes and fees as well in a business.
 Exemption from the Coverage of the Minimum Wage Law – The BMBEs shall be exempt
from the coverage of the Minimum Wage Law: Provided, that all employees covered under this
Act shall be entitled to the same benefits given to any regular employee such as social security
and healthcare benefits. Thus, great equality will be achieved, poverty maybe reduced, higher
motivation workers and have better quality of working in a business.
 Credit Delivery – Upon the approval of this Act, the Land Bank of the Philippines (LBP), the
Development Bank of the Philippines (DBP), the Small Business Guarantee and Finance
Corporation (SBGFC), and the People’s Credit and Finance Corporation (PCFC) shall set up a
special credit window that will service the financing needs of BMBEs registered under this Act
consistent with the Bangko Sentral ng Pilipinas (BSP) policies, rules and regulations. The
Government Service Insurance System (GSIS) and Social Security System (SSS) shall
likewise set up a special credit window that will serve the financing needs of their respective
members who wish to establish a BMBE. The concerned financial institutions (FIs) are
encouraged to wholesale the funds to accredited private financial institutions including
community-based organizations such as credit, cooperatives, non-government organizations
(NGOs) and people’s organization, which will in turn, directly provide credit support to BMBEs.
All loans from whatever sources granted to BMBEs under this Act shall be considered as part
of alternative compliance to Presidential Decree No. 717, otherwise known as the Agri-Agra
Law. To minimize the risks in lending to the BBEs, the SBGFC and the Quedan and Rural
Credit Guarantee Corrporation (QUEDANCOR) under the Department of Agriculture, in case of
agribusiness activities, shall set up a special guarantee window to provide the necessary credit
guarantee to BMBEs under their respective guarantee programs. Lastly, the BSP shall
formulate rules for the implementation of this provision and shall likewise establish incentive
programs to encourage and improve credit delivery to the BMBEs. Thus, this will facilitate
growth of a business, increased revenue, mitigates risks from suppliers and reduced
bankruptcy risk.