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    Alendajao THC3 Task2

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    Ken Arnold Alendajao
    The document discusses three entrepreneurs' definitions of entrepreneurship. Entrepreneur 1 and 2 define it based on having the right mentality, while Entrepreneur 3 compares it to "jumping off a cliff and building a plane on the way down." To be a successful entrepreneur requires unique competencies like creativity, initiative, problem-solving and resourcefulness. These can be developed through training focusing on an entrepreneurial mindset. Entrepreneurship is important for local, state/provincial and national economies. It creates jobs, wealth and empowerment, reducing poverty. In the Philippines, entrepreneurs create not just their own jobs but employment for others, accounting for over 60% of jobs according

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    Alendajao THC3 Task2

    Uploaded by

    Ken Arnold Alendajao
    15 views2 pages
    The document discusses three entrepreneurs' definitions of entrepreneurship. Entrepreneur 1 and 2 define it based on having the right mentality, while Entrepreneur 3 compares it to "jumping off a cliff and building a plane on the way down." To be a successful entrepreneur requires unique competencies like creativity, initiative, problem-solving and resourcefulness. These can be developed through training focusing on an entrepreneurial mindset. Entrepreneurship is important for local, state/provincial and national economies. It creates jobs, wealth and empowerment, reducing poverty. In the Philippines, entrepreneurs create not just their own jobs but employment for others, accounting for over 60% of jobs according

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    THC TASK

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    Alendajao_THC3_Task2

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    The document discusses three entrepreneurs' definitions of entrepreneurship. Entrepreneur 1 and 2 define it based on having the right mentality, while Entrepreneur 3 compares it to "jumping off a cliff and building a plane on the way down." To be a successful entrepreneur requires unique competencies like creativity, initiative, problem-solving and resourcefulness. These can be developed through training focusing on an entrepreneurial mindset. Entrepreneurship is important for local, state/provincial and national economies. It creates jobs, wealth and empowerment, reducing poverty. In the Philippines, entrepreneurs create not just their own jobs but employment for others, accounting for over 60% of jobs according

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    15 views2 pages

    Alendajao THC3 Task2

    Uploaded by

    Ken Arnold Alendajao
    The document discusses three entrepreneurs' definitions of entrepreneurship. Entrepreneur 1 and 2 define it based on having the right mentality, while Entrepreneur 3 compares it to "jumping off a cliff and building a plane on the way down." To be a successful entrepreneur requires unique competencies like creativity, initiative, problem-solving and resourcefulness. These can be developed through training focusing on an entrepreneurial mindset. Entrepreneurship is important for local, state/provincial and national economies. It creates jobs, wealth and empowerment, reducing poverty. In the Philippines, entrepreneurs create not just their own jobs but employment for others, accounting for over 60% of jobs according

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Alendajao, Ken Arnold

    Ms. Janice Hansen Agbay

    SECOND TASK

    1. Ask three entrepreneurs what the term entrepreneurship means to them. Give/present the
    commonalities and differences in the definitions explained by the “type” of entrepreneur
    interviewed?
    Entrepreneur 1
    - Entrepreneurship is a complex term that’s often defined simply as running your own
    business. But there’s a difference between a “business owner” and an “entrepreneur,”
    and although one can be both, what distinguishes entrepreneurship is a person’s
    attitude.

    Entrepreneur 2

    - Entrepreneurship is not a profession. Entrepreneurship is a state of mind, it’s how you


    think and operate that makes you an entrepreneur or not.

    Entrepreneur 3

    - The journey of jumping off a cliff and building a plane on the way down is
    entrepreneurship

    What’s their commonalities and differences?

    - So first let’s talk about their commonalities, entrepreneur 1 and 2 are similar on each of
    their thoughts about entrepreneurship. They put up the term that if you want to be an
    entrepreneur, you should have a good mentality. Number 3 is far more deep on his
    thoughts, he emphasizes the true struggles of starting a journey of being an
    entrepreneur. So what’s their differences? I think entrepreneur 1 and 2 are the same
    thoughts because as you can see they emphasizes the use of brain. So it’s entrepreneur 3
    that differs on them because he’s more like a poetic person. But all in all, their
    explanation are all align in the field of entrepreneurship.
    2. Why are there competencies unique to entrepreneurs? How can become a successful
    entrepreneur?
    - Entrepreneurship competencies combine creativity, a sense of initiative, problem-
    solving, the ability to marshal resources, and financial and technological knowledge.
    These competencies enable entrepreneurs and entrepreneurial employees to provoke
    and adapt to change. They can be developed through entrepreneurship education and
    training that focus on promoting an entrepreneurial mindset and behaviors. To become
    a successful entrepreneur, you must be able to make wise decisions about how you will
    use your time, continually evaluating and prioritizing tasks according to relevance and
    importance.
    3. What impact does entrepreneurship have on your local, state, (or province) , and national
    economies?
    - Entrepreneurship can create jobs, wealth and social empowerment, all of which may
    contribute to a decrease in poverty. Most people in the Philippines are employed in the
    informal sector. Around 38% are self-employed, running small-scale businesses and
    barely making a living. By creating new products and services, they stimulate new
    employment, which ultimately results in the acceleration of economic development. So
    public policy that encourages and supports entrepreneurship should be considered
    important for economic growth. Filipino entrepreneurs create jobs not just for
    themselves but also for other Filipinos. In fact, according to DTI 2020 MSME Statistics,
    small and medium enterprises account for 62.66% of all jobs in the Philippines. This
    means that without entrepreneurs, many Filipinos would be unemployed.

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