I.

Identification (2pts each)

Meeting like-minded people 1. A benefit of becoming an entrepreneur wherein you will

join a group of ambitious and helpful people who believe in bettering themselves and the
world.

Neglecting your customers 2. Common mistake of young Filipino entrepreneurs wherein

owners are more focused on operations and earning profit from their businesses thus not
focusing on giving value to their customers.

Choosing who to work with 3. A benefit of becoming an Entrepreneur wherein you have
control over the people whom to work with; you can hire the employees you like.

Lack of Financial Discipline 4. Common mistake of young Filipino entrepreneurs where in

the owners are overspending or living beyond their means.

Autonomy 5. A benefit of becoming of becoming an entrepreneur wherein people who

have more control over their work tend to be more engaged and less emotionally
exhausted.

II. Essay (Please answer in your own words and your own examples and as briefly as
possible)

1. What is Entrepreneurship? (10pts)

Entrepreneurship is the concept of starting and running a business in order to profit by

taking risks. Simply said, entrepreneurship is the drive to find a successful approach to
start a firm. It has also played an important part in the marketplace and in the
development of the economy. Entrepreneurship is the process of beginning and running
a new firm. It benefits a small group of clients who wish to get involved in a certain
business.

2. Give 2 successful Entrepreneurs (local or foreign) and explain their business. (30pts)

Henry Sy- The 94-year-old former Chinese immigrant had amassed a multibillion-dollar
business empire that included retail, real estate, and banking. The parent company for
SM Retail, the country's largest chain of department stores and supermarkets, SM
Prime, the country's largest shopping mall operator, and BDO Unibank is Sy's family-
owned SM Investments. In 1958, Sy opened his first business, ShoeMart, a footwear
store. ShoeMart developed and evolved throughout the next six decades, and the brand
name was altered to simply "SM." Sy is also credited with promoting the "malling
culture" in the Philippines, where the country's tropical temperature makes shopping
outside typically uncomfortable.

Bill Gates- he is the founder of Microsoft, has been referred to as the world's richest
man at times. After dropping out of Harvard University and building the world's largest
software corporation, he had a net worth of $129 billion at the time. He established the
Cascade Investment Company outside of Microsoft to fund his interests. It has
significant stakes in the hotel, rail transportation, beverage, and waste management
industries and employs over 100 people. In order to extend his philanthropic activity, he
established the Bill and Melinda Gates Foundation. The foundation, which has about
$47 billion in assets, works on global challenges including as poverty, health care, and
education. It also has various trust interests, including Berkshire Hathaway, Caterpillar,
FedEx, Walmart, and UPS.