NAME: ABESIA, DIANA MAE E.

EDP & Subject: 08342 HM 211 SECTIONS: BSHM 2A

TITLE: ASSIGNMENT NO. 1

ASSIGNMENT 1
Instructions: Answer the following questions. Use Calibri (Body), size 12).

1. What advantages will it provide to be a person who is interested in becoming a

successful entrepreneur?
According to my understand and information that I gained there’s a lot of advantages to a
person who is interested in becoming a successful entrepreneur such as, Entrepreneurship
allows you to fashion a life and career that directly align with your core values, like helping
others, saving the environment, or putting family first. Starting a company forces you to
constantly improve your skillset, from marketing to closing deals to creating Excel reports.
There is always more to learn and apply to your business, which can prevent complacency and
encourage constant professional growth. There’s no denying that one of the best parts of being
an entrepreneur is the complete freedom you have to do your own thing. No more bosses to
report to, or managers peering over your shoulder now you’ve gone from the bottom all the
way to the top. You are the boss.
Here are the following advantages to the person who is interested in becoming a successful
entrepreneur:

 Leadership experience  Unexpected and thrilling experiences

 Greater self-confidence  Meeting like-minded people
 Choosing who to work with  Constant growth and development
 Allowing yourself to take the challenges  A career that aligns with your values
 Take the risk and solves problems  A flexible schedule

I believe that, Entrepreneurs have been instrumental in spurring social change and improving the way people
live and work. They help raise the standard of living for everyone by creating jobs and making products safer,
less expensive, and more functional.
 2. Enumerate the reasons why there is no universally accepted definitions of the term
entrepreneurship.
What exactly does the term "entrepreneur" imply? There is no single, simple definition for the
word, but many have attempted to decipher it. In some ways, being an entrepreneur means
you own a business. Being an entrepreneur, on the other hand, is inextricably linked to your life
decisions and experiences. Continue reading to learn what it means to be an entrepreneur.
Based on the information I got there’s a lot of reasons why there is no universally accepted
definitions of the term entrepreneurship and here ae the following:

 There is no universal definition of entrepreneurship because it is unique from person to

person. There may be some overlapping features of entrepreneurship but could only
make a definition that is partially true. However, a person sees a business venture may
or may not be exactly the same as to how somebody else sees it.
 No one has an exact definition of the word “entrepreneur” because everyone has a
unique story. And it is through this story that we all develop the characteristics that
comprise our entrepreneurial spirit. Entrepreneurial leadership qualities include
innovation, grit, passion, strategy, flexibility, and curiosity.
 Everyone has it own idea about entrepreneurship is, what matter is what characteristic
you have in able to solve every challenges you can encounter when having a business.

3. Distinguish between an entrepreneur and an ordinary businessperson.

Prior to my understanding an ordinary businessperson walks on the defined path, but an
entrepreneur believes in making his own path, and by that simple phrase it really explains a lot
well, let me expand y answer. Most of the people have a misconception that the terms
businessman and entrepreneur, carry the same meaning, due to which they use them
interchangeably.
The primary distinction between an entrepreneur and a businessman is that a businessman is
someone who establishes his business as a new entrant to an existing market on commercial or
industrial grounds. An entrepreneur, on the other hand, comes up with a unique idea or
concept for starting a business and turns it into a reality. A businessman is someone who runs a
company and pursues an unoriginal business idea. An entrepreneur, on the other hand, is
someone who is the first to initiate a product or business idea and thus the market leader.
In the long run, an entrepreneur becomes a businessman, but there is a difference. Even
though the terms sound similar to a layperson, there is a distinction between the two in that an
entrepreneur is always a market leader, whereas a businessman is a market player.
According to PEDIAA here is the differences between an entrepreneur and ordinary
businessperson.