CONTRIBUTIONS

OF
ENTREPRENEURS
TO THE COUNTRY'S
ECONOMIC
GROWTH
1. THEY DEVELOP
NEW MARKETS.
ENTREPRENEU are naturally
RS
creative and resourceful. They
are capable of creating a
demand that opens the door for
new customer base or new
markets.
This makes the difference between
an ordinary businessperson who
caters to existing markets that shrink
over time, and who performs
traditional functions of management,
such as planning, organizing, and
coordinating.
2. THEY DISCOVER NEW
SOURCES OF MATERIALS.
Entrepreneurs are not satisfied with the
resources they find within traditional
sources. They do RESEARC , investigate,
and develop new H materials, either to
replace or improve existing materials for
many products, thus improving the
economic life of products and the quality
of life of people, in general.
3. THEY ESTABLISH NEW TECHNOLOGIES
AND NEW PRODUCTS.
Much of the modern INVENTION that
people are enjoying today
S are credited to
the entrepreneurs. Every year, they
introduce new technologies and new
products in order to satisfy human needs,
not only for life's convenience, but also
for the speed and ease of doing things.
4. THEY GENERATE JOBS
OR EMPLOYMENT FOR
PEOPLE.
Entrepreneurs are credited for
establishing NEW and for promoting
the economic BUSINESSES
growth of the country. With
new businesses, more and more people
get hired to fill up the labor and skills
requirement of these new and growing
businesses.
As an example, the flourishing
businesses in many shopping
malls, established all over the
country for the last 10 or 15 years,
have created employment for
thousands of people in this
industry alone
 ENTREPRENEUR
VERSUS
A TRADITIONAL
BUSINESSPERSON
WHO IS JOSH
MAHINAY?
 “ALL OF US HAVE SOMETHING TO
CONTRIBUTE IN NATION-BUILDING.
NOBODY IS TOO POOR TO GIVE,
NOBODY IS TOO YOUNG TO START
SOMETHING, NOBODY IS TOO BUSY
TO SERVE AND NOBODY IS TOO
ORDINARY TO DO GREAT THINGS.” –
JOSH MAHINAY
Josh Mahinay is a Filipino social
entrepreneur and community volunteer.
After returning from Los Angeles, in 2017,
he founded BEAGIVER VENTURES [

INC., a social entrepreneurship venture that

helps impoverished school children
through its “buy one, give one” business
model.
WHO IS HENRY
SY?
“IN LIFE AND IN BUSINESS, YOU NEED
TO BE GOOD-HEARTED AND
TRUSTWORTHY, AND TO HAVE
INTEGRITY. THIS IS THE WAY TO
BUILD LONG-TERM RELATIONSHIPS.
IT IS ALSO IMPORTANT TO BE
OPTIMISTIC AND TO LOOK AT
CHALLENGES AS OPPORTUNITIES.” -
HENRY SY
During the 1960s, he decided to open ShoeMart. It
was the first air-conditioned shoe store that
displayed shoes in a stylish manner that attracted
many customers. He went on to open more shoe
stores after the success of the first one, but he
couldn’t find enough suppliers because of the high
demand.
 Rather than limiting himself, he saw this as an
opportunity to expand his product line. Henry
expanded into selling other products, such as
childrenswear, after marrying Felicidad Tan, a lace
vendor. At around the same time, Shoemart was
renamed SM Department Store.
ASSIGNMENT:
Research another entrepreneur that is
recently discovered in the Philippines.

Get information about his/her business and

be ready to present it tomorrow in front of
the class. List down his or her achievements
in an A4 coupon bond together with his/her
photograph to show to the class.
Some of the fundamental differences
between an entrepreneur and a businessman
are in terms of the amount of wealth
generated, the speed at which the wealth is
generated, the risks associated with the
venture, and lastly, the kind of innovation
applied to the business venture.
In an entrepreneurial business,
the potential wealth generation
is enormous and may only take
a short period of time before
this is achieved.
In a small business, the income
generated is oftentimes limited
and may take a very long
period to generate a substantial
amount of wealth.
While the risk of doing a small-scale traditional business
is low,
an entrepreneurial business venture may be exposed to a
lot of risks,
mainly because the venture involves new products that
have yet to be tested in the market.
 An entrepreneurial business
The traditional business
involves innovation and change,
oftentimes deals with
either these are new products that
products and commodities
replaced the old ones or are
that have stayed in the market
technologically better than the old
for some time, where demand
products. It provides a
has been fairly constant and
competitive advantage over
does not exhibit any
traditional products, and that
substantial change.
often results in substantial wealth
creation.
CHARACTERISTICS AND
TRAITS OF A
SUCCESSFUL
ENTREPRENEUR
INTRODUCING ISABEL MERCADO
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