FAR EASTERN UNIVERSITY

GENERAL EDUCATION

Formative Assessment 2 – Inquiring Mind (Idea Generation)

Surname, First Name Daquigan, Melnard Student Number 2020021361

Vincent, S.
Institute IABF Degree Program BSBA FIN MGT
Section 31 Mode of Learning MOL

Reference:

 Ash, D. (1999). The Process Skills of Inquiry by Doris Ash. Inquiry: Thoughts, Views, and
Strategies for the K-5 Classroom, 2, 51.

A. Doris Ash provided 7 processes of Inquiry. For this activity, please provide the following (4
out 7 only as these only refer to Inquiring Mind):

Task: Cite a specific topic/issue/inquiry –project you would like to discuss. Answer the following:
Better if your answers are related to the research paper you and your group are working on.

Topic: Threats to small businesses posed by the Pandemic.

1. Observing: (X2 or 14 points)

- As a result of the COVID-19 pandemic, major sectors have undergone substantial change,
with small enterprises bearing a disproportionately heavy burden. When a crisis occurs,
Micro, Small, and Medium Enterprises (MSMEs) are more vulnerable than huge
corporations. The COVID-19 pandemic is unlike anything else in recent memory since it is
both an economic shock and a public health problem. The widespread use of quarantine
measures to stop the virus's spread has resulted in disruptions to economic activity, supply
lines, and corporate operations (Francisco et al., 2020). A typical problem faced by MSMEs
operating at a reduced capacity or temporarily ceasing operations was the inability of their
staff to show up for work each day (24.39 percent). For MSMEs, following government
quarantine requirements was a major difficulty, as was being classified as "non-essential"
(19.82%) and having a high risk of contracting COVID-19 in the store or workplace
(19.47%).

2. Questioning (It’s like you are writing research questions. Please provide at least 3
questions): (X3 or 21 points)
 FAR EASTERN UNIVERSITY
GENERAL EDUCATION

- How will they be able to maximize their profits despite the decreasing number of
customers?
- What steps are they doing to rehabilitate and prevent further damage from the pandemic?
- How did they deal with the consequences of the Covid Pandemic?

3. Hypothesizing (7 points):
- To remain viable, businesses must improve their organizational, operational, and financial
resiliency at all levels of the company. Maintaining an open and constant flow of
communication throughout all levels of the company is critical to increasing organizational
resilience. Firms can integrate redundancy into important assets and processes, and create
supply chains and logistical operations that can be quickly updated when needed, to
preserve operational resilience. It is necessary to promptly recognize changes in income-
generating activities and business processes that drive costs to guide resource allocation
and reprioritization while developing financial resilience (Francisco et al., 2020). Due to the
pandemic's tectonic impact on the corporate landscape, I believe enterprises should digitize.
Companies that have quickly implemented digital solutions will be able to run more
efficiently as flexible work arrangements become more prevalent.

4. Predicting (7 points):
- To overcome and be robust in the face of the COVID-19 pandemic, they must have the
following characteristics: operational resilience, organizational resilience, leadership resilience,
revenue resilience, and financial resilience. According to Isenberg et al. (2020), relationships
with key stakeholders such as customers, lenders, employees, and suppliers are essential for a
company's success. MSMEs should cultivate these connections since a cooperative
environment can assist small enterprises in surviving crises. MSMEs will surely survive if they
have this trait. In addition, they can maximize their profit by not wasting their major assets and
only supplying the number of audiences they have.

Reference/s:
Road to recovery and resilience for Philippine MSMEs during the COVID-19 pandemic. (2021,
April 17). Search eLibrary :: SSRN. https://papers.ssrn.com/sol3/papers.cfm?
abstract_id=3821248
 FAR EASTERN UNIVERSITY
GENERAL EDUCATION

RUBRIC
Legend: (Based on FEU Assessment and Grading System)

Description and 7 6 5 4 3 2 1 0
Points A B+ B C+ C D+ D F
MASTERY: Complete and
Concepts and comprehensiv Full Considerate Intermediate Satisfactory Elementary Minimal No
principles e
PROFICIENCY:
Analytical, critical
and creative
Outstanding High Significant Adequate Satisfactory Certain Minimal No
thinking, and
problem-solving
skills
FLUENCY: Oral,
written and Very
Excellent Good Average Acceptable Some Basic No
symbolic Good
communication

MASTERY: Concepts and
principles
PROFICIENCY: Analytical,
critical and creative thinking, and
problem-solving skills
FLUENCY: Oral, written and
symbolic communication
X2 means 14 points, X3 means 21 points, X4 means 28 points, X5 means 35
points. Per item basis.
7: The question has been answered clearly; the argument was explained well,
supported by evidence and/or examples.
5-6: The question has been answered and explained well but with few ragged edges,
some pieces of evidence are not supported and persuasive.
3-4: The question has been answered but with few explanations and supporting
evidence.
1-2: Question not answered well, lacks good supporting evidence and explanation.
0: The question was not answered without any further explanation.

Total Points = 49