SHEPHERDVILLE COLLEGE

Talojongon, Tigaon, Camarines Sur

College of Education Department
Second Semester
AY 2022 – 2023
______________________________________________________________________________________

THE ENTREPRENEURAL MIND

PRELIM

Module 4 SAQ
Managerial Skills of Successful Entrepreneurs and
Emerging Issues in Entrepreneurship

Name: JEHOSHAPHAT P. SABA Course/Year: BPE 2O Date: 02-16-2023

STUDENT ASSESSMENT QUESTIONS (15 pts.)

1. Identify the qualities of successful entrepreneurs.

 Resolute motivation and passion - Passion is the most important characteristic of a successful
business. No one can achieve anything if they do not have a strong desire to succeed. As a
result of this overwhelming desire, motivation begins to develop in the head of an entrepreneur
as he takes on new responsibilities and learns new things to achieve that objective.
Motivation keeps the blood flowing, allowing an entrepreneur to maintain optimism and
overcome hurdles as he or she moves closer to the objective. As a result, a successful
entrepreneur is enthusiastic and motivated in a completely different way.
 Self-discipline is one of the most important characteristics of a successful entrepreneur. If an
entrepreneur can complete critical duties, he will be able to attain more success. Self-discipline
is defined as managing one's inner self and emotions in order to establish a sense of
responsibility for getting the work done, which promotes self-direction.
 Risk-taking ability - Entrepreneurship is all on taking risks. Entrepreneurs can take larger
risks in order to achieve greater success, but not all risk-takers become successful
entrepreneurs. A good entrepreneur understands when and how to take risks that may benefit
or hurt the firm or himself.
 Creative Thinking - A successful entrepreneur is a creative thinker who has a lot of ideas
running through her head all the time. This remarkable capacity to generate a wide range of
fresh ideas enables an entrepreneur to launch various sorts of businesses in a unique,
innovative manner.
 Persistence because even competent entrepreneurs face setbacks and obstacles,
persistence is the most basic and necessary trait of a successful entrepreneur. But with
perseverance, you can get back up and start progressing toward your goals.
 Adaptability - The ability to adjust is essential. The only thing that will remain consistent as an
entrepreneur is change. You must adapt or risk having your business swept away by a growing
wave of change.
 Decision making ability- When operating a business, the entrepreneur must make various
decisions. As a result, he must be capable of making appropriate and timely judgments. He
must make the correct decision at the appropriate moment. Things move very quickly in
today's environment. If an entrepreneur is unable to make timely decisions, he may miss out
on opportunities and incur losses.
2. Enumerate the managerial skills that an entrepreneur must possess in order to succeed in their
business.
 Optimizing the use of scarce resources
 Ensuring effective leadership
 Motivating employees by creating a safe and secure environment
 Promoting synchronization amongst industries and their relations
 Strategizing towards the achievement of primary goals of an organization
 Facilitating developmental opportunities that boost morale and help upgrade skills
 Knowledge and expertise to expand productivity
 Regulating competition in the market

3. Give the principles and dimensions of entrepreneurship

Principles of entrepreneurship
 Have a Vision
 Choose the Right Team
 Viable Product and Service
 Capital
 Accountability
 Growth and Marketing
 Know Your Customer
 Priorities
 Never Give Up

Dimensions of entrepreneurship
 Identification of Opportunities
 Vision and Influence
 Comfort with Uncertainty
 Assembling and Motivating a Business Team
 Efficient Decision Making
 Building Networks
 Collaboration and Team Orientation
 Management of Operations
 Finance and Financial Management
 Sales
 Preference for Established Structure
 SHEPHERDVILLE COLLEGE
Talojongon, Tigaon, Camarines Sur
College of Education Department
Second Semester
AY 2022 – 2023
______________________________________________________________________________________

THE ENTREPRENEURAL MIND

PRELIM

Module 4 SAQ
Managerial Skills of Successful Entrepreneurs and
Emerging Issues in Entrepreneurship

Name: JEHOSHAPHAT P. SABA Course/Year: BPE 2O Date: 02-16-2023

EVALUATION (10 pts.)

1. Explain the emerging issues in entrepreneurship.

Lack of Financial Support; Acquiring financial aid or obtaining a loan from banks appears tough for
start-up entrepreneurs who are not yet making operating income. You must have collateral or prove
some years of running revenue to qualify for a loan. Get financial assistance from relatives or close
friends who can offer you money at no or little interest. Start a professional service firm in which you
solely offer your abilities and skills and do not require large sums of money to run.

Lack of marketing skills; Entrepreneurs must sell, develop solid customer connections, make long-
term profits, and constantly grow their businesses. However, many potential entrepreneurs in the
Philippines underinvest in marketing activities. They focus too much emphasis on their product while
overlooking other aspects of marketing such as location, pricing, people, and promotion.

Ineffective Management; Many entrepreneurs are passionate about company but not about
management and leadership. Managing and arranging items within a firm is a difficult task. Leading
people is a much more difficult task. Entrepreneurs cannot thrive or develop their firms unless they
can encourage their employees and establish better teams.

Inability to innovate; new business procedures and marketing strategies appear. Online platforms
such as search engines and social media, for example, are now critical for business marketing.
Entrepreneurs cannot compete unless they adapt to these new methods and adjustments.

Lack of Customer Care; Businesses must continually please and delight their consumers. A firm
cannot exist in the long term unless its clients are satisfied. Many entrepreneurs are more concerned
with making money than with gaining loyal consumers. As a result, their profit is short-lived.