GE11 - EntrepreneurialMind - FINAL

College of Business Administration Education
2nd Floor, SS Building

Bolton Street, Davao City
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The University of Mindanao

Physically Distanced but Academically Engaged

Self-Instructional Module for Self-Directed Learning
MODULE FOR GENERAL EDUCATION (GE) 11:

ENTREPRENEURIAL MIND
Disclaimer: This self-instructional learning manual is a draft version only; not for quotation
and not for commercial reproduction. This module contains topics obtained from various
sources and is intended only for the use of enrolled students at the University of Mindanao.
Revisions of this manual is expected and is progressively done. Contents and expressions
herein are solely belonging to the course coordinators and do not necessarily reflect of the
university.
Module for GE 11: Entrepreneurial Mind Page | 1

FOR INSTRUCTIONAL USE ONLY. NOT for QUOTATION. NOT for REPRODUCTION
Prepared by: Reil S. Romero
Reviewed by: CBAE College Monitoring Committee
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Table of Contents
Page Number
Preliminaries Table of Contents 2
Course Policy 3
Chapter I
Unit Learning Outcome 7
For 1st Exam
Big Picture 7
Metalanguage 8
Essential Knowledge 9
Evolution of Entrepreneurship 9
Importance of Entrepreneurship 10
Common myths about Entrepreneurship 11
What/who is an entrepreneur? 14
How to become an entrepreneur? 16
Entrepreneurial Mind Process 17
Let’s Check 21
Let’s Analyze 22
Chapter II
Unit Learning Outcomes (ULOs) 24
For 2nd Exam
Entrepreneurial Ecosystem 24
Characteristics of Entrepreneurial Ecosystem 25
Entrepreneurs’ Personal Characteristics 30
Entrepreneurs’ Social Network 32
Tools Used by Entrepreneurs 37
Philosophies of Successful Entrepreneurs 38
Let’s Analyze 41
Self-Help 42
Chapter III
Unit Learning Outcomes 48
For 3rd Exam
History of Opportunity: How humans created value
49
and wealth
URL Links of Documentary Videos of Successful
51
Entrepreneur
Self-Help 55
Let’s Check 55
Let’s Analyze 56
Chapter IV
Unit Learning Outcomes 62
For FINALS
Product Ideation 62
Components of Product Ideation 63
Product Ideation Activity Sample Format 66
Let’s Analyze 73

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Course Outline: GE 11 – Entrepreneurial Mind
Course Coordinator REIL S. ROMERO

Electronic-Mail (email) Address: reil_romero@umindanao.edu.ph
College/Program:
Entrepreneurship & Business Economics Programs
Student Consultation: By email (weekdays/working hours only)
Contact Number: (082) 227-5456 local 131
Effectivity Date: June 2020
Mode of Delivery: Blended Learning (online)
Number of Hours Required: 54 Hours
Pre-requisite: None
Credit: 3.0 units
Welcome to this Entrepreneurial Mind Module!

For a background, this module is anchored on the University’s vision of becoming a world
class institution providing quality, affordable and open education for all. Likewise, this module
is an alternative learning modality as the foregoing world-wide spread of COVID19 is yet to be
solved. Hence, here we are – the new normal!
Our physical classes are constrained to be scheduled and/or thru via online as pursuant
to the policy guidelines as provided for by the World Health Organization, the state, the local
government unit, and of the University. Consequently, most of your time will be devoted to this
module for self-instruction and in the Blackboard Learning Management System.
The study of entrepreneurial mind is an offshoot or a derivative of social and economic
challenges facing the world and the Philippines in particular. For the past decades or so, these
challenges experienced have been immense and enormous which resulted to declining
standards of living, increasing external debt, high incidence of high poverty, health problems,
high crime rates, and high inequality in spite of government’s efforts and initiatives. Drawn from
these experiences, the need to shift of paradigm to improve lives and welfare becomes
imperative now more than ever. The events push entities/firms/decision makers to look for
alternative sources of income veering away from the old idea of employment sourced income
to multi-sources of income through the art of entrepreneurial mind. Thus, in this modular course,
you will personally deal with the basic principles and ideas of having an entrepreneurial mind
for your own benefit.
This module has specific topics/information as compiled by the coordinators of the
course. However, as a student, you are also encouraged to explore other textbooks, online
references or through multimedia (e.g. Youtube) and/or any other means to further augment
your learning and understanding. Limit NOT yourself in learning!
Spread your wings and find your niche. All the BEST and ENJOY!

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Course Outline Policy
Areas of Concern Details

Contact and Non-contact Hours This 3-unit course is a self-instructional manual
designed for blended learning mode of
instructional delivery with scheduled face to face
or virtual sessions. The expected number of
hours will be 54 of a face or virtual sessions.
Assessment Task Submission Submission of assessment tasks shall be on the
3rd, 5th, 7th, and 9th weeks of the term. The
assessment paper shall be attached with a cover
page indicating the title of the assessment task
(if the task is a performance), the name of the
professor, date of submission, and the name of
the student. The document should be emailed to
the professor. It is also expected that you already
paid your tuition and other fees before the
submission of the assessment task.
If the assessment task is done in real-time
through the features in the Blackboard Learning
Management System, the schedule shall be
arranged ahead of time by the professor.
Turnitin Submission To ensure honesty and authenticity, all

(if necessary) assessment tasks are required to be submitted
through Turnitin with a maximum similarity index
of 30% allowed. It means that if your paper goes
beyond 30%, the students will either opt to redo
her/his paper or explain in writing addressed to
the course coordinator the reasons for the
similarity. In addition, if the paper has reached a
more than 30% similarity index, the student may
be called for disciplinary action in accordance
with the University's OPM on Intellectual and
Academic Honesty.
Please note that academic dishonesty such as

cheating and commissioning other students or
people to complete the task for you have severe
punishments
(reprimand, warning, expulsion).

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Area of Concerns Details

Penalties for Late The score for an assessment item submitted after
Assignments/Assessments the designated time on the due date, without an
approved extension of time, will be decreased by
5% of the possible maximum score for that
assessment item for each day or part-day that the
assessment item is late.
However, if the late submission of the

assessment paper has a valid reason, a letter of
explanation should be submitted and approved
by the course coordinator. If necessary, you will
also be required to present/attach
evidence.
Return of Assessment tasks will be returned to you two (2)
Assignments/ weeks after the submission and returned by email
Assessments or via the Blackboard portal.
For group assessment tasks, the professor will

require some or few of the students for online or
virtual sessions to ask clarificatory questions to
validate the originality of the assessment task
submitted and to ensure that all the group members
are involved.
Assignment Resubmission You should request in writing addressed to the
professor his/her intention to resubmit an
assessment task. The resubmission is premised on
the student’s failure to comply with the similarity
index and other reasonable grounds such as
academic literacy standards or other reasonable
circumstances, e.g., illness, accident financial
constraints.
Re-marking of You should request in writing addressed to the
Assessment Papers and professor your intention to appeal or contest the
Appeal score given to an assessment task. The letter
should explicitly explain the reasons/points to
contest the grade. The program coordinator shall
communicate with the students on the approval and
disapproval of the request.
If disapproved by the professor, you can elevate

your case to the program head or the dean with the
original letter of request. The final decision will
come from the dean of the college.

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Grading System All culled from BlackBoard sessions and
traditional contact
Course exercise/discussion – 30%
Exams
1st formative assessment – 10%
2 formative assessment – 10%
nd
3rd formative assessment – 10%

Final exam – 40%
100%
Submission of the final grades shall follow the
usual University system and procedures.
Preferred Referencing Style HARVARD Format
Student Communication You are required to create a umindanao email

account, which is a requirement to access the
BlackBoard portal. Then, the professor shall enroll
the students to have access to the materials and
resources of the course. All communication
formats: chat, submission of assessment tasks,
requests, etc. shall be through the portal and other
university recognized platforms.
You can also meet the professor in person

through the scheduled face to face sessions to
raise your issues and concerns.
For students who have not created their student

email, please contact the professor or program
head.
Contact Details of the Dean Vicente Salvador E. Montaño, DBA
Email:vicente_montano@umindanao.edu.ph
Phone: 09094177626 (CALLS only)
Contact Details of the Program Reil S. Romero
Head Email: BSEntrep@umindanao.edu.ph
Phone: 09090618789 (CALLs only)
Students with Special Needs Students with special needs shall communicate with the
course coordinator about the nature of his or her special
needs. Depending on the nature of the need, the course
coordinator, with the approval of the program
coordinator, may provide alternative assessment tasks
or extension of the deadline for submission of
assessment tasks. However, the alternative assessment
tasks should still be in the service of achieving the
desired course learning outcomes.
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Help Desk Contact Reil S. Romero
Email: BSEntrep@umindanao.edu.ph
Phone: 09090618789 (Calls only)
Library Contact Ms. Christina Perocho
Phone Number: 0951-376-6681
Library@umindanao.edu.ph
Well-being Welfare Support Help Ms. Rhoda Lauyon
Desk Contact Details Phone: 09190011887
Course Information – see/download course syllabus in the BlackBoard LMS.
Unit Learning Outcomes (ULO): At the end of the unit you are expected to:
1. Discuss how the entrepreneurship evolve, including the myths, those who are
involved, and its importance to the society, economy and development.
2. Learn and know the qualities, characteristics and behaviors of successful
entrepreneurs and utilize it for the pursuit of higher learning and knowledge.
3. Comprehend the entrepreneurial process to participate in every available
opportunity in the market or in selected professions.
4. Adopt the characteristics, behavior, attitudes and mindset of an entrepreneur for
successful journey as a prospective entrepreneur.
Big Picture!
Hello future Entrepreneurs/Leaders! Welcome to this course GE 11: The

Entrepreneurial Mind. By possessing this kind of mindset, it will define your journey to success.
Additionally, this lesson will provide an opportunity for you to determine your strengths and
weaknesses and how to utilize them in developing yourself as a future leader that impart
change, innovation and creativity to the country.
It is not surprising that opportunities are everywhere; it only waits for somebody who has
the character, enough knowledge and skills to develop and harness it. Opportunities are
available in any corner of every profession.
The leaders in the 21st century are persons who are capable of doing something different.
A person who is willing to give the best out of him/her. A person who wants to lead his or her
profession in the pursuit of new knowledge, innovation, and new technology which will transform
the society to harness its fullest potentials.
Are you that leader? Will you take the challenge of becoming that leader?
If YES, let us begin!

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Metalanguage
In this section, the most essential terms relevant to the study of entrepreneurial mind and to
demonstrate ULOa are operationally defined to establish a common frame of refence as to how the texts
work in this career. You will encounter these terms as we go through the study of entrepreneurial mind.
Please refer to these definitions in case you will encounter difficulty in the in understanding
entrepreneurial concepts.
Entrepreneurship is a scholarly term which refers to any activity undertaking the risk of
utilizing the available opportunity and resources to start a new or revive an existing venture.
Hebert and Link (1988) define it as any activity which involved in the specialization of taking
responsibility for and making judgmental decisions that contribute change to a certain location,
the form and use of goods, resources or institution
Intrapreneurship is a product of modernization. As companies threatened with new
ideas and competition, they tend to look for a person who possess a skill of wielding this
challenge into something that can brought success. The activity of doing so is called
“intrapreneurship” and the person who can do that is called “intrapreneur” (Daykin, 2019).
Entrepreneur is a concept which refers to a person who “undertakes” (from French word
“entreprendre”) risk by utilizing every available opportunity and resources to start a new or
revive an existing venture. Entrepreneur also refers to a person who take responsibility in
creating a sound decision that would provide transformation in a certain kind such as profession,
ideas and opportunity (Hebert and Link, 1988).
Entrepreneurial Behavior refers to a set of behaviors “willingly” performed in seeking
new knowledge and innovative ideas that can change the status quo. This behavior is one of
the contributors to the principle of “only change is constant” (Kappel, 2016)
Entrepreneurial Process is a familiar concept for every aspiring entrepreneur. This
refers to a process or steps available for every entrepreneurs’ consumption in their search for
available opportunity that eventually led them in pursuit of new venture creation (University of
Pretoria, n.d.).
Social Entrepreneurship it is a growing field of entrepreneurship, thanks to the growing
study of impact evaluation of every new venture in the society, environment or economy. This
concept refers to the activity of undertaking the responsibility of creating societal driven ventures
or any business that provides inclusivity to a certain location or individuals (Martin and Osberg,
2007).
People are the individuals who will have an important impact on a venture, whether or
not, they are actual employees. The category includes founders and employees and as well as
mentors/advisors, investors, and suppliers. In some instances, even customers can be
considered as part of the team/organization.
Opportunity is an intended product or service for which customers will pay more than
cost the venture it provided. In economic terms, an opportunity is a positive net present value
project where the value of customer inflows exceeds the value of outflows to all resource
providers. To create and capture value, a company must have a differentiated product or service
and/or sustainable cost advantage. They must have benefits of scale including scale economies
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and/or network effects. Also, they must build mechanisms to which competition is managed.
Context refers to the factors that influence the possible outcome of the opportunity but
generally it is an exogeneous factors which means outside of management’s control. This
includes, interest rates, regulations, macroeconomic activity, technology, and some industry
variables like competition.
Deals are the direct and indirect contractual relationships between ventures and
resource providers. Deals allocate cash and risk and therefore affect the value of ventures.
Example of these deals range from contract of employment to investment contracts.
Are the people of capable, experienced, and trustworthy? Is the opportunity attractive? Is the
context favorable? Are the deals legal, comprehensive and coherent? These are the great
questions we must answer as we go through with this learning experience. The real insight is
to understand the relationships of people, opportunity, context and deals.
Essential Knowledge (For 1st Exam)

To perform the aforementioned ULO’s, you need to understand first the introduction and
basic concepts of Entrepreneurial Mind/Entrepreneurial Behavior. Please take note that you are
not limited to review this section only. You can utilize books (also available from Library and
Information Center), internet search engines, research articles and journals.
Overview of Entrepreneurship
Outline:
1. Evolution and definition of Entrepreneurship
2. Importance of Entrepreneurship
3. Common myths about entrepreneurship
4. What/who is an entrepreneur?
5. How do entrepreneurs think?
6. How to become an Entrepreneur?
7. Entrepreneurial Mind Process
8. Entrepreneurial Ecosystem
9. Characteristics of Entrepreneurial Ecosystem
10. Intrapreneurship
11. Intrapreneur
12. tools
1. Evolution of Entrepreneurship
In the beginning of the human history, entrepreneurship is not as complex as what it is
now. This type of concept is within the silhouette of economics since the character of the
concept and its contributions are also discuss within the scope of economics. It was believed
that Richard Cantillon, a French economist during the 17th century give this term.
Entrepreneurship basically refers to any activity of undertaking risk (from the French word
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entreprendre which means to undertake) in scanning every available opportunity and transform
it into a sustainable business venture (Pahuja & Sanjeev, 2015). As history progresses, the
term entrepreneurship becomes more and more complex and finally goes out into the silhouette
of economics and form its own profession. This scenario gives birth to numerous perspectives
of entrepreneurship and this concept becomes a single room for numerous perspectives. Other
experts formulated their own definition of entrepreneurship. Accordingly, entrepreneurship is
any ‘undertaking’ of adding value through time and effort. Also, entrepreneurship refers to any
‘undertaking’ of doing things that are not generally done. Finally, entrepreneurship refers to any
‘undertaking’ of a person with independent mind and thought that aims to create change and
innovation by taking every available risk and resources (Hayes, 2020).
From the definitions presented, it can be implied that there is no perfect definition for
entrepreneurship. Regardless of your profession, as long as you are willing to ‘undertake’ risk
to pursue an opportunity, it is not impossible for you to define your own definition of
entrepreneurship.
2. Importance of Entrepreneurship (Baijal, 2016; Seth, 2019; Awlaqi and Altheeb,

2019; Hayes, 2020)
The contribution of entrepreneurship in the economic and social development of any
country can never be underemphasized. In fact, entrepreneurship plays a pivotal role in the
economic development of the country by allowing new ideas and perspectives to flourish.
Entrepreneurship promotes competition bringing the best quality for the consumers and driving
the prices down. It also pushes the producers to be competitive and innovative to survive in an
everchanging climatology of markets. Entrepreneurs are the one who take every available
resource which is to be used and developed as an opportunity into money-making venture that
address the needs of the country. However, entrepreneurship is not that all about. Development
and evolution bestowed benefits to this profession. Modernization gives birth to
entrepreneurship in other profession or what they called intrapreneur, a person who utilize the
characteristics, attitudes and mindset of an entrepreneur to contribute a creative and innovative
ideas to further deepen the scope of every profession. As a person who desires to become an
intrapreneur, it is important for you to refer to this section to guide yourself for unfamiliar terms
and vocabularies you may encounter as you go further to this lesson.
Similar to other complex concepts, the importance of entrepreneurship cannot be

underemphasized because it contributes to the development of the economy, society, and
among others.
Entrepreneurship spurs economic growth. New products and services are
developed/innovated by entrepreneurs which create domino effect as it addresses the needs
and wants of the consumers which stimulate market operations which contribute to continuous
economic growth and development.
Entrepreneurship adds to the national income of the country. When new ventures
are explored by the entrepreneurs, it generates income both for the people and the government.

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It provides employment for the people which stimulate demand, thereby also addressing
poverty and food hunger. It also provides taxes to be used for the projects and programs
necessary for development of the country. The development of Micro Small Medium
Enterprises (MSMEs) also create opportunity to people and adds up to the national income of
the country.
Entrepreneurship creates social change. As new products and services come into
being, society tends to break away from traditions. New and sophisticated products and
services replace the obsolete ones. The curiosity of entrepreneurs created the principle of “only
the word change is constant”. For example, a community without a water supply tends to
experience minor development but due to curiosity of one entrepreneur, he or she undertakes
the task of taking risk and build a sophisticated water pump machine which enables the water
to reach far flung community and further increase the availability of water, lifting people out of
from scarce water scenario.
Entrepreneurship creates community development. Entrepreneurship does not refer
to money or profit alone, it also aims to contribute community development by supporting
charities and other non-government organization (NGO) in their quest of spurring further
development to a certain region.
Entrepreneurship gives rise to sound government policies. As new and more
sophisticated things rising in the horizon, policymakers tend to regulate this activity to avoid any
unwanted activities such as unfair market practices, pervasive corruption, financial crisis and
even criminal activity. This further enrich the ideas of creating proactive policies to prevent
anticipated irregularities.
As the relationship between entrepreneurship and economic development continues to
grow, it is believed that more and more importance will rise from the horizon. Thus, without
entrepreneurial activities, the growth of the economy is unstable and uncertain.
3. Common Myths About Entrepreneurship (Patel, 2014; Stibbe, 2019; Berry, n.d.)
Reality is hard to accept. As this happens, myths come into existence as people tend to
create their own belief of something. In the concept of entrepreneurship, the current situation
of majority of entrepreneurs (rich, with sports cars and the like) gives rise to some myths. People
are overshadowed by the success of entrepreneurs without knowing their struggles and
sacrifices. In order for you not to be fooled, here are some myths that me and you also believe.
Entrepreneurs do not quit!

People believe that quitting is a big mistake which tends to veer away of becoming
an entrepreneur. Instead, quitting from something can make a person to become an
entrepreneur. If they know that it is not going to be that way, they have already their exit strategy.
Before becoming a successful one, famous entrepreneurs also quit. They quit from their jobs
to start a business, they quit from their vices or even quit from their own comfort zones. They
even stop from the business they started because the environment is not favorable anymore.
Sometimes, the “never give up advice” is not best advice. Entrepreneurs stop operations of

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businesses when financial and economic indicators signal. However, entrepreneurs don’t quit
from their dreams or aspirations. These dreams and aspirations give fuel to their life.
Entrepreneurs know everything!
As majority says, nobody’s perfect. Entrepreneurship is all about trying, failing
then try again. No one is ahead, entrepreneurs believe that learning is a two-way process.
Entrepreneurs accept mistakes and solicit ideas for improvement. Entrepreneurs listen to
criticisms as these can lead into a more productive decision.
Entrepreneurs are the boss.
In this kind of activity, no one is a boss. Entrepreneurs need to make reports out
of the business transactions. Thinking this way will safeguard entrepreneurs from major
catastrophes. Yes, you are the in charge of your successful business, but you need to make
reports to establish historical transactions, decisions which lead to either success or flunk. In
this sense, you are not the boss, it’s the market transaction/opportunity that compels you.
Entrepreneurship is unstructured and chaotic
It is true that entrepreneurship is a complex activity, but it is not unstructured or
chaotic. Entrepreneurship is a system that needs coordination among the players in the markets
(consumers and producers). This myth basically makes potential entrepreneurs to be afraid of
entering into the activity. This is because they failed to understand the process, cannot handle
the pressure, the risks and challenges ahead. But once you think otherwise, becoming a
successful entrepreneur is not an impossible thing to you.
Entrepreneurship is all about money
In starting a business, money is one of the essential things to consider among
others, but to become an entrepreneur money is not everything. You can capitalize on your
skills (e.g. communication skills such writing and speaking), abilities (literary, dancing or
speaking) and technical knowledge. Without these essential skills and knowledge, money will
just come into your way and then disappear. If you cannot handle yourself and you believe into
this myth. Go away, entrepreneurship is not for you.
Entrepreneurship is fun!
Yes, it is fun, especially when you love what you are doing. It gives you opportunity
to achieve the dream and aspirations you set. It is also fun to bring new ideas for the
development of people. However, in some instance entrepreneurship is not that as easy. Other
entrepreneurs have experienced ups and downs and because of these challenges, sometimes
you can say that you do not belong in this profession. Entrepreneurship is just like a cycle, there
are good times and there are bad times. Bad times makes the entrepreneur stronger and bolder.
Finally, entrepreneurship is full of challenges that can make you think, is this the end? However,
if you believe that you can do it, then entrepreneurship is for you.
Entrepreneurship is all about risk taking and gambling
The future is uncertain; yes, that is true. Despite uncertainties, entrepreneurs tend
to calculate the risks before entering into a new venture or opportunity. Entrepreneurs will not
enter into a fight if they know that the odds are against them. Setting up calculated risk is an
essential skill for every entrepreneur as it guides them to come up with decisions that can lead

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them to success that they wanted from the start.

Entrepreneurship is all about inventing something new
Yes, discovering new things or innovating some things tend to help you become
a good entrepreneur. But that is not the way in entrepreneurship. It is not the primary
requirement that you need to invent something new or create a sophisticated thing to be
successful. For as long as you solve a certain problem or you address a certain need or you
make other people lives’ easier, then it’s entrepreneurship. Majority of entrepreneurs utilize
what is already available and then apply innovation to it.
From the above discussions, it is concluded that if you really aspire to become an
entrepreneur or want to experience the joys of entrepreneurship, you really need to stop
believing these myths. Remember, believing in yourself, in your capabilities, in your aspirations
will make you achieve your beckoning future. Similarly, with entrepreneurship, believing in what
you aspire, you calculate the risks involve and implement your plans, eventually you will achieve
the desired goals, maybe not at first.
4. Knowing yourself better: What/who is an entrepreneur? (De La Torre, 2015; Ward,

2019)
The complexity of entrepreneurship shared its benefits to the practitioners of it. A lot of
qualities can be used to define what is really an entrepreneur. Suffice to say that this is the
reality, entrepreneur possesses a lot of adjectives that you cannot find in an ordinary person.
From the previous part of this module, any person who ‘undertake’ opportunities (from
the French word ‘entreprendre’) is called an entrepreneur. But as the transformation continues
to kick in. More and more information created the difficulty of describing the real entrepreneur.
Ease yourself, it is not the end yet. Here are some figures of speech that describe an
entrepreneur.
An entrepreneur is a starter
An entrepreneur is always on the frontline, searching and pursuing every available
opportunity. They are always on the hunt for a possible business venture that can be created.
An entrepreneur initiates changes and innovations to replace the obsolete ones. They are
always on the top, transforming ‘flash of brilliance’ ideas in to a reality. An entrepreneur is the
beginning or even the end of a business venture. An entrepreneur considers himself or herself
the gasoline to run the very important entrepreneurial process.
An entrepreneur is a driver
An entrepreneur takes the lead. A person who believes that they need to take in
charge of something to make it into motion is an entrepreneur. Leadership is another primary
requirement to become an entrepreneur. Leadership skills that can inspire others to follow or
push others to do something innovative or different is another vocabulary that describes an
entrepreneur. Consider a car, an entrepreneur is the one who sits on the driver’s seat, therefore,
he or she must possess the ability of changing the direction, accelerating or slow down the car.
An entrepreneur is accountable responsible
Starting a business is a tedious task for everyone. Once you are there, it is your

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giant responsibility to make it in the right path. The future of the company (including your
employees and consumers who depend on your product offerings and salaries) lies within your
hands. Accountability is another challenging factor in entrepreneurship. An entrepreneur should
be always accountable for every action he or she made. Blame-game is not found in
entrepreneurship. An entrepreneur considers every possible outcome of his or her actions. If
something went wrong from that action, it is your accountability as well as responsibility to face
employees or consumers.
Becoming an entrepreneur does not happen overnight, it is a learning process which
performs numerous tasks that no one except yourself knows what the ending is. It is not a
simple thing that automatically comes out of the blue. By defining or knowing who you are, you
can already answer the question that bother everyone’s mind.
5. Think like them: How do entrepreneurs think?

There are a lot of things everyone can do to contribute economic value to society. Some
do it by simply becoming a tax-payer or by simply following the promulgated laws. However,
the way entrepreneurs doing it makes them unique to that called “others” (Quora, 2013).
Entrepreneurs think by actions
It is not surprising that entrepreneurship is an avenue where actions are colliding
with each other. With that, entrepreneurs, given their insatiable ability, always crave for actions
to innovate and look for opportunities. However, before entrepreneurs create an action, he or
she thinks of any available “smart guesses” or hypotheses. In this way, they can gather special
market intelligence which can be used for attaining they established objectives. Entrepreneurs
tend to create their own theories and make it into action once opportunity enters the field.
Entrepreneurs think in possibilities
Entrepreneurs does not ensure perfection before doing any action. To them,
perfection is an enemy of progress. A simple but calculated possibility can make them jump out
of their set and begin their move. As long as the much needed and important resources are
intact, with no hesitations, entrepreneurs will deploy himself or herself into a whirlwind drive to
success.
Entrepreneurs can think in ambiguity
For the vast majority, ambiguity and fear hinders their abled mind to perform
efficiently. This led to poor decisions that eventually lead to failure. For entrepreneurs, this is
an avenue where they can test themselves as ambiguous situation enable them to evaluate
more options to settle or solve the issue. The availability of limited information is not a barrier
to them, instead, it is an opportunity to create a strong and sustainable decisions that eventually
lead to what they desired from the start.
Entrepreneurial thinking embraces risks
People tend to avoid risks as they perceived it as negative thing for their survival.
It is not the same or totally applicable for entrepreneurs, risks can make entrepreneurs more
passionate and curious. Entrepreneurs perceive risk as an area of opportunity. They believe
that in this area they can find the once in a lifetime opportunity which can make them successful

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or more successful. Entrepreneurs already equip themselves of much needed armaments

before entering this kind of battle.
Entrepreneurs think in patterns
Ordinary people believe that everything happens for a reason. Entrepreneurs are
not like that; they tend to study previous patterns before they create actions. Graphs and other
available charts guide them in their future pursuit of opportunity. Entrepreneurs believe that
previous events influence the present and the present may influence the future. Entrepreneurs
also know how to utilize the available patterns to uncover the future opportunities that ordinary
people could not see. Entrepreneurs believe that there is something of a creative force that
influence the birth of opportunity.
Entrepreneurs think incessantly
Normal people tend to settle of what are available, their appetite of something is
far from entrepreneurs. Entrepreneur continuously think of something that gives value.
Continuous curiosity is their main characteristics as they unsatisfactorily scan the environment
for any available opportunities. Every person or resource they meet is a potential source for
new or innovative creation. Entrepreneurs trained their mind to be ready always for every
problem that needs solution.
Entrepreneurs think internally
Rather than letting the external environment controls them, entrepreneur utilizes
their maximum internal capability to direct their future actions, to work for their achievements
and even use it to plan with an eye for any available long-term opportunity. Entrepreneurs do
not let other people control their feelings or influence their decisions. They only utilize external
information to weigh in and calculate risks of their actions.
Entrepreneurs think of value-add
Singular thinking is a big no for entrepreneurs. Entrepreneur thinks for an action
that give plurality in terms of its benefits and advantages. Partnering with people and
organization who are committed in extracting every available market opportunity is an essential
tool for them. Entrepreneurship is a “no man is an island” concept.
Entrepreneurs think of giving meaning
Entrepreneurs always desire for giving the world a better place to live. By doing
so, entrepreneurs tend to create an action that can make difference. For them, this desire is
another opportunity for them to create wealth and make money. Entrepreneurs’ desire is to be
proud of what they have done in changing the world for the future.
Entrepreneurial thinking makes an ordinary person entrepreneur. The abovementioned
entrepreneurial thinking is not enough. As the reality speaks that there is no perfect definition
for entrepreneurship, entrepreneurial thinking is constantly evolving. With specification, DeMers
(2014) enumerated her beliefs on how the entrepreneurs think. For entrepreneurs:
- Challenges are opportunities
- Competitors are research subjects
- Everything requires effort
- Perfection is the enemy of progress

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- Big things are made from small components

- Mistakes are healthy
- There is no magic
- Outside perspective is invaluable
- Discipline is a pre-requisite
- Entrepreneurship is a lifestyle
Following most, if not all, thinking of entrepreneurs will eventually gives you an
opportunity to define yourself if you have at least a micro-possibility of becoming an
entrepreneur.
For you, how should be an entrepreneur think if he or she is in your profession?
6. A glaring question: How to become an entrepreneur?

There is no set of specific formula in becoming an entrepreneur. As previously defined,
for as long as you undertake risks, use opportunities to transform a status quo to address
specific condition or to improve something, then you can be an entrepreneur already. The field
of entrepreneurship is a highly attractive profession for so many reasons. However, it is not
easy as what you think. For some, entrepreneurship is a battle. A battle against your emotions,
against your comfort zones or even a battle between your close friends, girlfriend or boyfriend
and family members. This is not to discourage you from entering into entrepreneurship, this is
a teaser of a something big which can make you decide to know yourself better before entering
the world of entrepreneurship. McConnell and Cremades (2019) shared some of their views
about how to become an entrepreneur:
You value comfort over performance
In the context of entrepreneurship, many persons who entered this kind of game
aspire for comfort such as having a nice house or a car. Others also entered this game by
quitting work in exchange of undertaking risk because for them working gives pressure and
discomfort. In other ways, entrepreneurship is a comfortable way of attaining fullness, curiosity
and makes a person more conscious. However, this kind of mindset is not always in good
shape. Valuing comfort over performance or vice versa is a perception that can be inculcated
in the minds of entrepreneurs. With that perception, you can easily adjust to the changing
scenario of entrepreneurial ecosystem.
You established Goals and Objectives
It is often concluded that in entrepreneurship, you can do what and where you
want. Others said, entrepreneurship gives you freedom. That is not absolute. Entering into the
field of entrepreneurship without setting a concrete and sustainable goals lead you to
catastrophe. It is important for you to have a concrete, meaningful and empirically centered
vision in your mind always if you want to become an entrepreneur. Defining your goals and
objectives is a tedious task as it requires a lot of your time and other resources. But, if these
things are set, then you have the freedom to alter or revise it based on your own perceptions of
the current situation.
You skillfully handle stress well

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It is not surprising that entrepreneurship is a profession full of stress. Challenges

from all sides are knocking your emotions and mentality down. Entrepreneurs tend to stay away
from this. Entrepreneurs skillfully handle the stress by taking calculated risks and decisions. A
lot of people like Mr. Branson avoiding stress by taking calculated risk in order to prevent
unintended situations that can cause stressful thinking
7. THE ENTREPRENEURIAL MIND PROCESS
7. LEARNING
1. THE IDEA
AND
GROWING
2. THE
OPPORTUNITY
6. LAUNCH
3. CONDUCTING
MARKET
5. BUILDING
RESEARCH
COMPETENT
HUMAN 4. ANALYZE &
RESOURCE VERIFY
MARKET
RESEARCH
RESULTS
Figure 1. Entrepreneurial Mind Process
The start of every entrepreneurial venture is to have an “idea”. An idea meant to address
a lacuna or gap between products supplied and demanded by the players of market. The idea
may be a revolutionary or subtle one. When we say entrepreneurial idea, there is no perfect or
false idea. Every idea is acceptable provided that it addresses/helps a specific issue to resolve.
However, contextually, the idea being referred here is the set of specific activities that an
entrepreneur has in mind and that he would like to explore it to address particular transactions.
This idea may be new/novel or something that is existing already but adopted with a twist/
innovation. This idea will serve as a fuel to propel an entrepreneurial mind to critically think,
research and find ways on how to pursue it. Without an idea of specific activity to address
something, then there is nothing to pursue or start with. Ideas remain ideas if it were not to be
realistic. Ideas, if coupled with “opportunities” give entrepreneurs high probability of pursuing
it. In this context, opportunity refers to an intended product or service for which customers will
pay more than cost the venture it provided. In economic terms, an opportunity is a positive net

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present value project where the value of customer inflows exceeds the value of outflows to all
resource providers. Opportunity can also mean the circumstances or environmental factors
which allows the entrepreneurs to pursue start-ups or ideas they have in mind (e.g. support
system, capital, labor, land, technology). Corollary to this, if there is no opportunity or if the
environment is unfavorable then the idea in mind will not yet be pursued.
In the above framework, the third step is the conduct of market research. Conducting
market research is deemed important as it tests hypotheses and determines the possible size
of your target customers. It gives entrepreneur an empirical basis whether the idea is worth
pursuing. Also, through this market research, certain assumptions can be established to
approximately determine the financial soundness of your proposed idea/ entrepreneurial
venture. In less words, it measures the demand and prospective financial indicators of your
prospective product/service to be offered. Also, by conducting market research, it will allow
entrepreneurs to know the willingness to pay which will allow you to determine the price of
product/service. Presently, the conduct of market research is now done using multimedia
platforms such as google, facebook, and among others.
Once the conduct of market research is done, you as an entrepreneur need to carefully
analyze and verify the data collected and draw conclusion/ decision whether your idea is
worthy of pursuing. Is the data telling you to pursue your ideas given the opportunities you
have? If yes, then it is great! If not, then look for other opportunity or place where your venture
will flourish. Note, when looking at the data, as an entrepreneur you should be “objective”. Being
objective means you are guided by facts, reasons and viability of your ideas, not just purely by
emotions and impulsive behavior.
The fifth part of the process is to build or have competent human resource which will
help you in successfully running the business. Competent human resource means the
resources are fit, able to produce the expected outputs, knowledgeable and experienced in
terms of what they are doing. To ensure the success of your venture, entrepreneurs need to
position and collaborate with people with industry experience helping them in each step of the
business way. In an ever-changing environment, flexible and competent human resource will
help you improvise, strategize in your ventures and as well as advise in your decisions.
Ensuring these critical elements are in position, you as an entrepreneur can now proceed
with launching of your business and expecting your model to work. It must be remembered that
in a business or any entrepreneurial venture, there are always risks involve and that you cannot
expect a 100% correct or flawless operation. There will always be room for error or
improvement. From these faulty decisions and mismanagement committed, learning and
growing will take place. You as an entrepreneur must set corrective mechanisms to ensure
regressing previous errors. Through learning and growing, an entrepreneur will be able correct
and achieve the goals set for his/her venture.
.

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Let’s Check. Congratulations! You have just completed the first part of this module. By now
you realize the importance of becoming an entrepreneur especially during this pandemic crisis.
You will realize that the study and application of entrepreneurship no knows boundary but
transcends and cuts across areas of discipline! Let’s check what you have learned!
Task Number 1: Multiple Choice Activity (2 points each)

______1. “entreprendre” means ___________________
A. To undertake
B. To Make
C. To create
D. To understand
______2. Which of the following is the direct contribution of entrepreneurship to the
government?
A. Entrepreneurship provides employment which enables employees to pay
taxes
B. Entrepreneurship provides goods and services which encourages
consumers to purchase
C. Entrepreneurship adds more national income through business creation
D. Entrepreneurship address the needs and wants of the government
______3. Which of the following is the indirect effect entrepreneurship to the government?
A. Entrepreneurship provides employment which enables employees to pay
taxes
B. Entrepreneurship provides goods and services which encourages
consumers to purchase
C. Entrepreneurship adds more national income through business creation
D. Entrepreneurship address the needs and wants of the government
______4. The flexibility characteristics of entrepreneurs refers to ________________?
A. Responds to changes if deemed necessary
B. Always be prepared for the upcoming changes in the future
C. Adjust only when the changes occurred
D. All of the above
______5. This online social network allows you to brand yourself such as putting your
accomplishments and your other experiences.
A. LinkedIn
B. PartnerUp
C. The Funded
D. BIDA
______6. Famous for his Mercury Drug Story.
A. Henry Sy, Jr.
B. Socorro Ramos
C. Tony Tan Caktiong
D. Henry Sy, Sr.
______7. Which of the following is/are the roles of mentors/teachers in your pursuit of success?
A. Acts as your first customer
B. Acts as filter to your ideas and decisions
C. Acts as the motivator to do something good
D. All of the above

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______8. Richard Cantillon coined the word ______________

A. Entrepreneurship
B. “entreprendre”
C. Entrepreneur
D. All of the above
______9. Which of the following is the main philosophy of Amancio Ortega?
A. Agility is the key
B. Intelligence is the key
C. Attitude is the key
D. Speed is the key
______10. Famous for his Alibaba Group.
A. Jack Ma
B. Jackie Chan
C. Kim Jack
D. Jack Minh
______11. For entrepreneur, N.O. means _______________
A. Next Option
B. Next Order
C. Next Opportunity
D. Next Outcome
______12. Which of the following is the importance of self-profiling?
A. Allows you to gather information outside
B. Can help you in developing opportunity profile for available opportunity
C. Allows you to determine your Strength and Weaknesses
D. Allows you to determine whom should you trust.
______13. In entrepreneurship, resilience refers to_______________
A. Building tenacity in every situation
B. Committing mistakes is healthy
C. Learning from mistakes is an advantage
D. Nobody’s perfect
______14. It is a myth that refers to the principle that entrepreneurs are fighters and do not
believe to surrender
A. Entrepreneurship is all about Luck
B. Entrepreneurs are innovative
C. Entrepreneurs do not quit
D. No retreat no surrender
______15. Calculated risks mean ________________
A. Knowing what is the limit of every decision
B. Studying every angle of opportunity before hopping in
C. Development of opportunity profile for a certain opportunity
D. All of the above

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Let’s Analyze!
Task Number 1: Knowing yourself BETTER!

Study your current situation and finish this task:
1. What are your current Strengths and Weaknesses? (at least five (5) each
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
2. Which do you prefer? Money or Career? Why?

________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
3. State 10 of your attitudes that you think entrepreneurial
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
4. How do you define success?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

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Task Number 2: Measuring your Risk Tolerance

Finish this task:
Are you a risk averse or risk lover? State Points that will prove your claim.
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

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Task Number 3: Attitudes for your profession

Review all the entrepreneurial attitudes, personalities and work style. Which of the
following is/are applicable to your current course or profession?

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Alton, L., 2016. Entrepreneur Asia Pacific: 5 Things Every Entrepreneur Should Know About
Risk-Taking. [Online]
Available at: https://www.entrepreneur.com/article/270320
[Accessed 2020].
Awlaqi, M. & Altheeb, A., 2019. Research Gate Publications: Importance of Entrepreneurship
in Economic Development. [Online]
Available at:
https://www.researchgate.net/publication/332551159_Importance_of_Entrepreneurship_in_Ec
onomic_Development
[Accessed 2020].
Baijal, R., 2016. 4 reasons why entrepreneurship is important. Entrepreneur.
Berry, T., n.d. BPlans. [Online]
Available at: https://articles.bplans.com/top-ten-myths-of-entrepreneurship/
[Accessed 2020].
Cantoria, C., 2011. Bright Hub: 10 Successful Filipino Entrepreneurs: Biography & History of
Their Lives and Times. [Online]
Available at: https://www.brighthub.com/office/entrepreneurs/articles/120553.aspx
[Accessed 2020].
Chamorro-Premuzic, T., 2020. Harvard Business Review: Why You Should Become an
“Intrapreneur”. [Online]
Available at: https://hbr.org/2020/03/why-you-should-become-an-intrapreneur
[Accessed 2020].
Cremades, A., 2019. Forbes: How To Become An Entrepreneur. [Online]
Available at: https://www.forbes.com/sites/alejandrocremades/2019/05/25/how-to-become-an-
entrepreneur/#71ccd14a8a6c
[Accessed 2020].
Daykin, J., 2019. Intrapreneurship. Forbes.
De La Torre, J. J., 2015. Who Is An Entrepreneur?. Entrepreneur Middle East.
DeMers, J., 2014. Entrepreneur Asia Pacific. [Online]
[Accessed 2020].
Entrepreneur Handbook, 2019. Entrepreneur Handbook: Secrets to success from 10 of the
world’s richest entrepreneurs. [Online]
Available at: https://entrepreneurhandbook.co.uk/advice-from-10-of-the-worlds-richest-
entrepreneurs/
[Accessed 2020].

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Fallon, N., 2017. Business News Daily: Networking for Entrepreneurs: 7 Ways to Make a
Connection. [Online]
Available at: https://www.businessnewsdaily.com/6420-entrepreneur-networking-tips.html
[Accessed 2020].
Founder's Guide, 2018. Founder's Guide: Making Connections As An Entrepreneur. [Online]
Available at: http://foundersguide.com/making-connections-as-an-entrepreneur/
[Accessed 2020].
Hayes, A., 2020. Investopedia: Entrepreneur. [Online]
Available at: https://www.investopedia.com/terms/e/entrepreneur.asp
[Accessed 2020].
Hebert, R. & Link, A., 1989. Research Gate: In the search of meaning of Entrepreneurship.
[Online]
Available at:
https://www.researchgate.net/publication/226596509_In_Search_of_the_Meaning_of_Entrepr
eneurship
[Accessed 2020].
Isenberg, D., 2011. Forbes: Introducing the Entrepreneurship Ecosystem: Four Defining
Characteristics. [Online]
Available at: https://www.forbes.com/sites/danisenberg/2011/05/25/introducing-the-
entrepreneurship-ecosystem-four-defining-characteristics/#4b6e8ecb5fe8
[Accessed 2020].
Isenberg, D., 2014. Harvard Business Review: What an Entrepreneurship Ecosystem Actually
Is. [Online]
Available at: https://hbr.org/2014/05/what-an-entrepreneurial-ecosystem-actually-is
[Accessed 2020].
Johnson, J., 2018. Entrepreneur Asia Pacific: Find Out What Your Business Style Says About
How You Work -- And How to Get Out of Your Own Way. [Online]
[Accessed 2020].
Kappel, M., 2016. Exploring 9 Types Of Entrepreneurial Behavior. Forbes.
Martin, R. & Osberg, S., 2007. stanford Social Innovation: Social Entrepreneurship: The Case
for Definition. [Online]
Available at: https://ssir.org/articles/entry/social_entrepreneurship_the_case_for_definition
[Accessed 2020].
McConnell, S., 2019. The Foundr: Becoming an Entrepreneur – 3 Reasons Why Not (And How
To Do It Anyway). [Online]
Available at: https://foundr.com/becoming-an-entrepreneur
[Accessed 2020].

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Pahuja, A. & Sanjeev, R., 2015. Research Gate: Introduction to Entrepreneurship. [Online]
Available at:
https://www.researchgate.net/publication/301659818_Introduction_to_Entrepreneurship
[Accessed 2020].
Patel, N., 2014. Forbes: 8 Popular Entrepreneurial Myths Debunked. [Online]
Available at: https://www.forbes.com/sites/neilpatel/2014/10/17/popular-entrepreneurial-myths-
debunked/#40846cd72c11
[Accessed 2020].
Patel, S., 2017. Forbes: The 5 Personality Traits All Entrepreneurs Must Have. [Online]
[Accessed 2020].
Quora, 2013. Forbes: How Do Entrepreneurs Think?. [Online]
Available at: https://www.forbes.com/sites/quora/2013/11/05/how-do-entrepreneurs-
think/#7889ec413905
[Accessed 2020].
Rampton, J., 2014. Forbes: 5 Personality Traits of an Entrepreneur. [Online]
Available at: https://www.forbes.com/sites/johnrampton/2014/04/14/5-personality-traits-of-an-
entrepreneur/#2f116b0e3bf4
[Accessed 2020].
Reiss, B., 2010. Entrepreneur Asia Pacific: Success is All in the Attitude. [Online]
[Accessed 2020].
Seth, S., 2019. Investopedia: Why Entrepreneurship Is Important to the Economy. [Online]
Available at: https://www.investopedia.com/articles/personal-finance/101414/why-
entrepreneurs-are-important-economy.asp
[Accessed 2020].
Sisodia, A., 2017. Inc42: 4 Ways To Develop The Right Attitude For Entrepreneurship. [Online]
Available at: https://inc42.com/entrepreneurship/develop-right-attitude-entrepreneurship/
[Accessed 2020].
Stibbe, M., 2019. Turbine: 10 surprising entrepreneur myths. [Online]
Available at: https://www.turbinehq.com/blog/myths-about-entrepreneurs
[Accessed 2020].
University of Pretoria, n.d. University of Pretoria. [Online]
Available at:
https://repository.up.ac.za/bitstream/handle/2263/24173/03chapter3.pdf?sequence=4&isAllow
ed=y
[Accessed 2020].

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Ward, S., 2019. The Balance Small Business: What is an Entrepreneur?. [Online]
Available at: https://www.thebalancesmb.com/entrepreneur-2947268
[Accessed 2020].
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[Accessed 2020].


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College of Business Administration Education

2nd Floor, SS Building

The University of Mindanao

Physically Distanced but Academically Engaged

MODULE FOR GENERAL EDUCATION (GE) 11:

Module for GE 11: Entrepreneurial Mind Page | 1

Module for GE 11: Entrepreneurial Mind Page | 2

Course Outline: GE 11 – Entrepreneurial Mind

Course Coordinator REIL S. ROMERO

Welcome to this Entrepreneurial Mind Module!

Module for GE 11: Entrepreneurial Mind Page | 3

Course Outline Policy

Areas of Concern Details

Turnitin Submission To ensure honesty and authenticity, all

Please note that academic dishonesty such as

Module for GE 11: Entrepreneurial Mind Page | 4

Area of Concerns Details

However, if the late submission of the

For group assessment tasks, the professor will

If disapproved by the professor, you can elevate

Module for GE 11: Entrepreneurial Mind Page | 5

Area of Concerns Details

3rd formative assessment – 10%

Student Communication You are required to create a umindanao email

You can also meet the professor in person

For students who have not created their student

Area of Concerns Details

Course Information – see/download course syllabus in the BlackBoard LMS.

Hello future Entrepreneurs/Leaders! Welcome to this course GE 11: The

If YES, let us begin!

Module for GE 11: Entrepreneurial Mind Page | 7

Essential Knowledge (For 1st Exam)

2. Importance of Entrepreneurship (Baijal, 2016; Seth, 2019; Awlaqi and Altheeb,

Similar to other complex concepts, the importance of entrepreneurship cannot be

Module for GE 11: Entrepreneurial Mind Page | 10

Entrepreneurs do not quit!

Module for GE 11: Entrepreneurial Mind Page | 11

Module for GE 11: Entrepreneurial Mind Page | 12

them to success that they wanted from the start.

4. Knowing yourself better: What/who is an entrepreneur? (De La Torre, 2015; Ward,

Module for GE 11: Entrepreneurial Mind Page | 13

5. Think like them: How do entrepreneurs think?

Module for GE 11: Entrepreneurial Mind Page | 14

or more successful. Entrepreneurs already equip themselves of much needed armaments

Module for GE 11: Entrepreneurial Mind Page | 15

- Big things are made from small components

6. A glaring question: How to become an entrepreneur?

Module for GE 11: Entrepreneurial Mind Page | 16

It is not surprising that entrepreneurship is a profession full of stress. Challenges

7. THE ENTREPRENEURIAL MIND PROCESS

Figure 1. Entrepreneurial Mind Process

Module for GE 11: Entrepreneurial Mind Page | 17

Module for GE 11: Entrepreneurial Mind Page | 18

Task Number 1: Multiple Choice Activity (2 points each)

Module for GE 11: Entrepreneurial Mind Page | 19

______8. Richard Cantillon coined the word ______________

Module for GE 11: Entrepreneurial Mind Page | 20

Task Number 1: Knowing yourself BETTER!

2. Which do you prefer? Money or Career? Why?

3. State 10 of your attitudes that you think entrepreneurial

4. How do you define success?

Module for GE 11: Entrepreneurial Mind Page | 21

Task Number 2: Measuring your Risk Tolerance

8. Richard Cantillon coined the word ________