This document provides an overview of entrepreneurship and entrepreneurial skills. It defines entrepreneurship as developing, organizing and managing a business venture to make a profit, including taking on associated risks. Key characteristics of successful entrepreneurs are discussed, such as motivation, creativity, versatility, business skills, risk tolerance, drive, vision, flexibility and decisiveness. The importance of entrepreneurs in creating new businesses, adding to national income, and driving social change and community development is explained. Finally, the document discusses the creative and cultural industries and their importance as leading sectors of the world economy in the 21st century.

1. ENTREPRENEURSHIP
AN OVERVIEW OF THE COURSE

2. Guide Question:
• What is the story all about?
• How did the girl learned to do business?
• What important skills did she learn to understand and do her business better?
Video: Pineapple Ice Cream
Youtube: https://www.youtube.com/watch?v=ckAn1TfESbg

4. What is Entrepreneurship?
The capacity and willingness to develop, organize and manage a business venture
along with any of its risks in order to make a profit. The most obvious example of
entrepreneurship is the starting of new businesses.
Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential
part of a nation's ability to succeed in an ever changing and increasingly competitive
global marketplace.

5. Characteristics of the Entrepreneur
1. Motivation
Entrepreneurs are enthusiastic, optimistic and future-oriented. They believe they’ll be successful and
are willing to risk their resources in pursuit of profit. They have high energy levels and are sometimes
impatient. They are always thinking about their business and how to increase their market share. Are
you self-motivated enough to do this, and can you stay motivated for extended periods of time? Can
you bounce back in the face of challenges?
2. Creativity and Persuasiveness
Successful entrepreneurs have the creative capacity to recognize and pursue opportunities. They
possess strong selling skills and are both persuasive and persistent. Are you willing to promote your
business tirelessly and look for new ways to get the word out about your product or service?
3. Versatility
Company workers can usually rely on a staff or colleagues to provide service or support. As an
entrepreneur, you’ll typically start out as a “solopreneur,” meaning you will be on your own for a while.
You may not have the luxury of hiring a support staff initially. Therefore, you will end up wearing
several different hats, including secretary, bookkeeper and so on. You need to be mentally prepared to
take on all these tasks at the beginning. Can you do that?

6. Characteristics of the Entrepreneur
4. Superb Business Skills
Entrepreneurs are naturally capable of setting up the internal systems, procedures and processes
necessary to operate a business. They are focused on cash flow, sales and revenue at all times.
Successful entrepreneurs rely on their business skills, know-how and contacts. Evaluate your current
talents and professional network. Will your skills, contacts and experience readily transfer to the
business idea you want to pursue?
5. Risk Tolerance
Launching any entrepreneurial venture is risky. Are you willing to assume that risk? You can reduce
your risk by thoroughly researching your business concept, industry and market. You can also test
your concept on a small scale. Can you get a letter of intent from prospective customers to
purchase? If so, do you think customers would actually go through with their transaction?
6. Drive
As an entrepreneur, you are in the driver’s seat, so you must be proactive in your approaches to
everything. Are you a doer -- someone willing to take the reins -- or would you rather someone else
do things for you?

7. Characteristics of the Entrepreneur
7. Vision
One of your responsibilities as founder and head of your company is deciding where your business
should go. That requires vision. Without it, your boat will be lost at sea. Are you the type of person
who looks ahead and can see the big picture?
8. Flexibility and Open-Mindedness
While entrepreneurs need a steadfast vision and direction, they will face a lot of unknowns. You will
need to be ready to tweak any initial plans and strategies. New and better ways of doing things may
come along as well. Can you be open-minded and flexible in the face of change?
9. Decisiveness
As an entrepreneur, you won’t have room for procrastination or indecision. Not only will these traits
stall progress, but they can also cause you to miss crucial opportunities that could move you toward
success. Can you make decisions quickly and seize the moment?

8. Importance of Entrepreneurs
Entrepreneurs Create New Businesses
Path breaking offerings by entrepreneurs, in the form of new goods & services, result
in new employment, which can produce a cascading effect or virtuous circle in the
economy. The stimulation of related businesses or sectors that support the new
venture add to further economic development.
Entrepreneurs Add to National Income
Entrepreneurial ventures literally generate new wealth. Existing businesses may
remain confined to the scope of existing markets and may hit the glass ceiling in terms
of income. New and improved offerings, products or technologies from entrepreneurs
enable new markets to be developed and new wealth created.

9. Importance of Entrepreneur
Entrepreneurs Also Create Social Change
Through their unique offerings of new goods and services, entrepreneurs break away
from tradition and indirectly support freedom by reducing dependence on obsolete
systems and technologies. Overall, this results in an improved quality of life, greater
morale and economic freedom.
Community Development
Entrepreneurs regularly nurture entrepreneurial ventures by other like-minded
individuals. They also invest in community projects and provide financial support to
local charities. This enables further development beyond their own ventures.

10. Creative Industry and
Cultural Industry
Leading the World Economy in the 21st Century

11. Creative Industry
Refers to the socio-economic potential of activities that trade with creativity,
knowledge and information.
Creative economy comprises advertising, architecture, art, crafts, design, fashion, film,
music, performing arts, publishing, R&D, software, toys and games, TV and radio, and
video. Some scholars consider that education industry, including public and private
services, is forming a part of creative industry
The creative industries have been seen to become increasingly important to economic
well-being, proponents suggesting that "human creativity is the ultimate economic
resource," and that “the industries of the twenty-first century will depend increasingly
on the generation of knowledge through creativity and innovation"

12. 11 Sectors of the Creative and Cultural
Industry (CCI)
Advertising and Marketing
Advertising agencies
Architecture
Architectural firms
Performing Arts
Performing arts activities:
dance, theatre, live music,
opera, ballet, etc.
Books
Physical and digital books sales
(including scientific, technical
and medical books)
Music
Sound recording and music
publishing industry, live music
Movie
Motion picture production, post-
production and distribution
Newspapers & Magazines
Newspapers and magazine
publishing industry
Gaming
Video game publishers,
developers and retailers;
equipment sales
Radio
Radio broadcasting activities
TV
TV programming, production and
broadcasting including cable and
satellite
Visual Arts
Visual arts creation, museums,
photographic and design
activities
*Gastronomy
Local dishes, fusion and
innovative dishes in
restaurants
* The CCI Sector of a country may vary from other countries

13. By Definition of the Word
Cultural Industry
combine the creation, production, and distribution of goods
and services that are cultural in nature and usually protected by
intellectual property rights
sometimes called “creative industry”
The notion of cultural industries generally includes textual,
music, television, and film production and publishing, as well as crafts
and design. For some countries, architecture, the visual and performing
arts, sport, advertising, and cultural tourism may be included as adding
value to the content and generating values for individuals and
societies. They are knowledge-based and labour-intensive, creating
employment and wealth.

14. By Definition of the Word
Creative Industry
"those industries which have their origin in individual
creativity, skill and talent and which have a potential for wealth
and job creation through the generation and exploitation of
intellectual property" - UK Government Department for
Culture, Media and Sport (DCMS)
As of 2015 the DCMS definition recognizes 9 Creative
Sectors: Advertising and marketing; Architecture; Crafts;
Design: product, graphic and fashion design; Film, TV, video,
radio and photography; IT, software and computer services;
Publishing; Museums, galleries and libraries; Music, performing
and visual arts

15. Difference of Creative Industry and
Cultural Industry
• Cultural Industry is part of the bigger Creative Industry
• Cultural Industry gives an importance to an inherent identity to the product because
of the place of its origin and thus, the product has an added “value”
• Creative Industry is set on an individual talent or skill or process to create a product
and earn from it

16. Looking into Cultural Heritage
• The use of cultural heritage products, art, dance, literature among other art in its
natural form should be handled with proper sensitivity when contextualized, derived
or translated in a modern work.
• Proper appropriation, respect and recognition should be given to the source.

17. Artisanal Product
Produced by artisans, either completely by hand, or with the
help of hand tools or even mechanical means, as long as the
direct manual contribution of the artisan remains the most
substantial component of the finished product.
These are produced without restriction in terms of quantity
and using raw materials from sustainable resources.
The special nature of artisanal products derives from their
distinctive features, which can be utilitarian, aesthetic,
artistic, creative, culturally attached, decorative, functional,
traditional, religiously and socially symbolic and significant.

18. Exampleof Cultural
Industry
The Cultural Industry is not limited
to the heritage but can also be attributed to
“popular culture” as well as emerging culture
within the place.

19. Example of Creative Industry
• By definition, are
industries which have their
origin in
individual creativity, skill
and talent and which have
a potential for wealth and
job creation.

20. BUILDING A MORE CREATIVE WORLD
• Promote Authors’ Rights
Creative Industries need supportive legal frameworks that protect the rights of
creators and secure fair remuneration for them, to boost economic growth and job
creation worldwide.
• Nurture Talent
Creative talent is the lifeblood of cultural and creative industries and should be
protected and promoted. The creative community is an engine of innovation for more
sustainable development.
• Balancing monetization
CCI players face two difficulties: trying to persuade consumers to pay for
something they may have been accessing for free, and extracting a fair share of the
value generated by cultural content.

21. Building that Creative Culture
It’s cool now to be a designer from an emerging market
especially if you have worldly views and local sensibilities
We need to embrace our own identity and innovation as a
process…and that starts with taking pride and investing in
our own capacity
- Leonard Theosabrata
Indonesian Designer

23. “A POOR MAN IS NOT THE ONE
WITHOUT A CENT; A POOR MAN IS THE
ONE WITHOUT A DREAM.”
HENRY FORD
FOUNDER & OWNER OF FORD MOTORS

24. WHAT IS COMMON ABOUT THESE FILIPINO
OWNED COMPANIES?

25. THEY ARE ALL OWNED BY PEOPLE WHO
CAME FROM RAGS TO RICHES…
Tony Tan
Caktiong
of
Jollibee
Alfredo Yao
of Zest-O
Socorro Ramos
Of National
Bookstore
Henry Sy
Of SM
Julie Gandiongco
Of Julie’s Bakeshop
John Gokongwei
Of Universal
Robina
Corazon D. Ong
Of CDO
Foodsphere
Source: http://www.topten.ph/2014/08/30/top-10-best-rags-riches-pinoy-stories/

26. Title: From Cagayan Valley to Silicon Valley : ‘Filipino Bill Gates’ Dado Banatao
Youtube: https://www.youtube.com/watch?v=S4Ps7Nps5lg

27. BY DEFINITION
ENTREPRENEURSHIP IS THE CAPACITY AND WILLINGNESS TO DEVELOP, ORGANIZE AND MANAGE A BUSINESS VENTURE
ALONG WITH ANY OF ITS RISKS IN ORDER TO MAKE A PROFIT. THE MOST OBVIOUS EXAMPLE OF ENTREPRENEURSHIP IS THE
STARTING OF NEW BUSINESSES. THIS PERSON WHO VENTURED INTO AN ENTERPRISE IS CALLED AN ENTREPRENEUR.
THE RESOURCES THAT AN ENTREPRENEUR PUTS TOGETHER CONSIST OF HUMAN RESOURCES (WORKERS, MANAGERS,
CUSTOMERS AND SUPPLIERS) AND NON-HUMAN RESOURCES (LAND, BUILDING, MONEY, MACHINES, MATERIALS AND
METHODS)
ENTREPRENEURIAL SPIRIT IS CHARACTERIZED BY INNOVATION AND RISK-TAKING, AND IS AN ESSENTIAL PART OF A
NATION'S ABILITY TO SUCCEED IN AN EVER CHANGING AND INCREASINGLY COMPETITIVE GLOBAL MARKETPLACE.

28. AN ENTREPRENEUR IS ONE WHO:
• PERCEIVES BUSINESS OPPORTUNITIES IN THE ENVIRONMENT
• TAKES RISKS TO MAKE USE OF THESE BUSINESS OPPORTUNITIES
• INVESTS HIS OWN OR BORROWS MONEY TO USE IN BUSINESS
• INTRODUCES INNOVATIONS OR IMPROVEMENTS TO MAKE THE BUSINESS BETTER, MORE EFFICIENT AND
MORE PROFITABLE
• MAKES PLANS AND DECISIONS FOR THE BUSINESS
• GENERATES PROFIT FOR THE BUSINESS

29. AN ENTREPRENEUR IS NOT ANY OF THE
FOLLOWING
• HE IS NOT THE PERSON WHO GIVES OR LENDS MONEY TO ANOTHER (WHO USES IT TO SET-UP A BUSINESS) AND SITS
BACK AND RELAXES UNTIL HIS MONEY IS RETURNED WITH INTEREST EARNINGS. THIS PERSON IS A FINANCIER OR
INVESTOR AND NOT EXACTLY AN ENTREPRENEUR.
• HE IS NOT THE PERSON HIRED AND PAID BIG SALARIES TO MANAGE BUSINESS FULL TIME FOR ITS OWNERS. THIS PERSON
IS MORE OF A PROFESSIONAL OR SALARIED MANAGER.
• HE IS NOT AN INVENTOR OF A PRODUCT WHO STOPS WORKING AFTER INVENTING AND DEVELOPING A PRODUCT. TO BE
SURE, AN INVENTOR CAN BE AN ENTREPRENEUR, BUT IF ONLY HE GOES ON TO COMMERCIALIZE HIS PRODUCT, THAT IS, TO
MANUFACTURE IT ON A COMMERCIAL VOLUME AND THEN DISTRIBUTE IT IN THE MARKET.
• HE IS NOT THE PERSON WHO GUIDES OR GIVES ADVICE TO ENTREPRENEUR TO MAKE HIS BUSINESS MORE EFFICIENT AND
MORE PROFITABLE. THIS PERSON IS RATHER THE BUSINESS MANAGEMENT CONSULTANT OR COUNSELOR.

30. ENTREPRENEURSHIP
ACCORDING TO JOSEPH A. SCHUMPTER
THE CARRYING OUT OF NEWCOMBINATIONS OF MEANS OF PRODUCTION, RESULTING IN CREATIVE
DESTRUCTION AT THE INDIVIDUAL LEVEL AND DISEQUILIBRIUM IN THE
ECONOMIC PROCESS.

31. THE ENTREPRENEUR
ACCORDING TO PAUL WILKEN
… ONE WHO COMBINES FACTORS OF PRODUCTION TO INITIATE CHANGE OF GOODS (AND SERVICES)

32. WHY DOES THE GOVERNMENT
FOCUSING ON PROMOTING
ENTREPRENEURSHIP?
ENTREPRENEURS MAKE A COUNTRY RICH AND SELF-RELIENT

33. ENTREPRENEURS PURPOSE
THEY PROVIDE THE GOODS AND SERVICES WHICH MEMBERS IN THE COMMUNITY OR GROUP NEED BUT
CANNOT PROVIDE THEMSELVES
ENTREPRENEUR EARN PROFITS THAT HELP THE ECONOMY GROW
THE ENTREPRENEUR PROVIDE JOBS
ENTREPRENEURS WHO SUCCEED AND GROW HELP OTHER ENTREPRENEURS SUCCEED AND GROW ,TOO
(THIS IS THROUGH OUTSOURCING OR SUB-CONTRACTING WITH SIMILAR BUSINESSES)
ENTREPRENEURS HELP DEVELOP SMALL TOWNS AND CITIES AND THUS STEM THE MIGRATION OF RURAL
PEOPLE INTO THE BIG CITIES

34. WHAT AN ENTREPRENEUR DOES
• PERCEIVES OPPORTUNITIES IN THE ENVIRONMENT
AN ENTREPRENEUR SEES BUSINESS IDEAS AND OPPORTUNITIES IN EVERY HUMAN NEED (FOOD, CLOTHING,
SHELTER) WANT (FOR COMFORT, CONVENIENCE, SOCIAL APPROVAL) OR PROBLEM
• TAKE CALCULATED RISKS
AN ENTREPRENEUR MODERATE RISKS IN VARIOUS OF WAYS : 1) FORMALLY, BY PREPARING FEASIBILITY
STUDIES AND BUSINESS PLANS. THESE STUDIES GIVE THEM CLEAR INFORMATION ABOUT HOW MUCH THEY NEED
TO START AND RUN A BUSINESS, WHETHER THERE IS A DEMAND FOR THEIR PRODUCT; 2) INFORMALLY BY SEEKING
INFORMATION FROM FRIENDS OR ACQUAINTANCES; 3) DO TRIAL PRODUCTION RUNS, CONDUCT MARKET TESTS
FOR THEIR PRODUCTS.

35. WHAT AN ENTREPRENEUR DOES
• PRODUCE AND USE CAPITAL
CAPITAL IS THE MONEY USED TO START THE BUSINESS. IT CAN BE PERSONAL SAVINGS OR BARROWED FROM FAMILY, FRIENDS, OR
INSTITUTIONS LIKE BANKS OR COOPERATIVES. WHEN THE BUSINESS MAKES PROFITS, THE ENTREPRENEUR PLOW IT BACK TO THE BUSINESS, IN THIS
SITUATION, THE ENTREPRENEUR “PRODUCES” ADDITIONAL CAPITAL TO MAKE THE BUSINESS IMPROVE OR GROW OR BOTH.
• INTRODUCE INNOVATIONS
INNOVATION IMPLIES NEWNESS, ORIGINALITY OR CREATIVITY, VARIATION OR UNIQUENESS. THE INNOVATIVE PERSON IS OPEN TO
CHANGE AS WELL AS DOES SOMETHING IN A NEW WAY.
AN INNOVATIVE PERSON SEES A PRODUCT CAN BE PUT TO NEW USES, IMPROVED, SUBSTITUTED, COMBINED, DIVERSIFIED, MADE
BIGGER, MADE COMPACT, GIVEN A NEW COLOR OR A NEW SHAPE. THE ENTREPRENEUR LOOKS FOR NEW SOURCES OF MATERIALS AND NEW MARKETS.

36. WHAT THE ENTREPRENEUR DOES
• ORGANIZE THE BUSINESS
WHAT IS A BUSINESS ENTERPRISE MADE OF? MONEY (CAPITAL), MEN (WORKERS, MANAGERS,
SUPERVISORS), MACHINES (TOOLS AND EQUIPMENT), MATERIALS (RAW MATERIALS, SUPPLIES, PARTS, OR
INGREDIENTS), METHODS (WAYS OF DOING OR MANUFACTURING THE PRODUCT OR SERVICE), MARKETS
(CUSTOMERS AND DISTRIBUTORS) AND MOMENT (TIME) THAT THE ENTREPRENEUR NEEDS TO UTILIZE
EFFICIENTLY.
• MAKE PLANS AND DECISIONS
PLANNING INVOLVES FORECASTING OR TRYING TO PREDICT EVENTS; THEY ALWAYS HAVE
CONTINGENCY PLANS FOR UNFORESEEN EVENTS.

37. WHAT THE ENTREPRENEUR DOES
• MAKE PROFITS
ALL BUSINESSES ARE MADE TO MAKE PROFIT.
 PROFIT IS THE FINANCIAL REWARD A PERSON GETS FROM THE MONEY, TIME AND EFFORT HE PUTS INTO A BUSINESS
VENTURE.
 PROFIT IS IMPORTANT FOR THE BUSINESS TO SURVIVE OR GROW. IT IS ALSO A WAY FOR THE ENTREPRENEUR TO PROVIDE
FOR THEMSELVES AND THEIR FAMILIES.
PROFIT EQUALS SUCCESS
A LOW PROFIT IS A SIGNAL THAT PRODUCT BEING PRODUCED ARE NOT THE RIGHT PRODUCTS AT THE RIGHT PRICE FOR THE
RIGHT PEOPLE AT THE RIGHT TIME AND PLACE

38. THE REWARDS AND RISKS OF BEING AN
ENTREPRENEUR
IF YOU INTEND TO GO INTO BUSINESS , YOU SHOULD BE ABLE TO DO SO WITH YOUR EYES OPEN. NO
SURPRISES! THIS MEANS THAT YOU SHOULD BE AWARE OF WHAT IT TAKES TO START AND SUSTAIN A
VENTURE. YOU SHOULD UNDERSTAND THAT BEING IN BUSINESS CAN BE THE MOST REWARDING, FULFILLING
AND CHALLENGING CAREER. BUT IT CAN ALSO BE VERY RISKY AND FRUSTRATING AND DEMANDING.

39. THE ENTREPRENEUR’S
REWARDS
• MAKE MONEY
• BE YOUR OWN BOSS
• EXPRESS CREATIVITY
• GAIN SELF-SATISFACTION
RISKS
• THE RISK OF FAILURE
• LONG HOURS OF HARD WORK
• UNWANTED RESPONSIBILITIES

40. DO FILIPINO CULTURE HAVE AN EFFECT
ON BEING AN ENTREPRENEUR?
STUDIES SHOW THAT INTEREST AND LATER DECISION TO BE AN ENTREPRENEUR CAME ABOUT DUE
TO A COMBINATION OF SEVERAL FACTORS. THESE INCLUDES: THE CULTURE IN WHICH THE PERSON WAS
BORN AND RAISED; HIS SOCIAL FAMILY, EDUCATIONAL AND WORK BACKGROUND; HIS PSYCHOLOGICAL
TRAITS AND QUALITIES; AND SUPPORT GIVEN BY THE GOVERNMENT AND OTHER INSTITUTIONS.

41. PHILIPPINE CULTURAL VALUES AND ENTREPRENEURSHIP
SOMETHING TO THINK ABOUT….
OUR COUNTRY IS RICH NOT ONLY IN
RESOURCES BUT ALSO IN HUMAN
GENERAL, FILIPINO WORKING OVERSEAS
TO BE SUCCESSFUL, HARDWORKING
WITH THE ABILITY TO SPEAK ENGLISH AND
WELL WITH FELLOW WORKERS OF
NATIONALITIES AND CULTURES.
HOWEVER, DESPITE OF OUR POSITIVE
HAVE NOT DEVELOPED ENOUGH FAITH AND
OUR SELVES AS PEOPLE WHO CAN MAKE
HAPPEN AND WHO CAN CONTROL OUR
CONSEQUENTLY, OTHER NATIONALS HAVE
MISGUIDEDLY BRANDED FILIPINOS.
SOME FOREIGNERS FILIPINOS TEND TO:
 BE LAZY, INDULGENT AND PRONE TO
TAKE THINGS EASY (SHADES OF JUAN
IMAGE)
 AVOID TAKING RISKS (SEGURISTA,
LOOB)
 GO ALONG WITH WISHES OF THE GROUP
PERSONALLY, ONE WANTS TO DO
(SOBRANG MAKISAMA )
 BE OVER SENSITIVE TO CRITICISMS SO
STOPS WHAT HE IS DOING WHEN IT DOES
MEET THE APPROVAL OF OTHERS (BALAT-
)
 LACK PERSEVERANCE AND PERSISTENCE,
FILIPINOS TEND TO LOSE INTEREST AFTER
INITIAL BURST OF ENTHUSIASM (NINGAS-
 BE FATALISTIC OR TO LET FATE OR
THE OUTCOME OF WHAT ONE DOES
 PUT ONE OVER EACH OTHER (GUSTO
O BIDA) WHICH IN TURN LEADS ONE TO
FELLOW FILIPINOS WHO ARE MAKING IT
TOP (ALIMANGO OR CRABMENTALITY)
 LACK ORIGINALITY AND CREATIVITY, AND
TO IMITATE WHAT OTHERS ARE DOING
GAYA)
What do we do when we hear bad things being said about us? Do we keep quiet and shrug or shoulders? Do we
laugh in embarrassment but agree in silence? Or worse, do we heartily admit what others say?

42. FILIPINO VALUES FAVORABLE TO
ENTREPRENEUR
• PAKIKIPAGKAPWA VALUES PROMOTE THE IDEALS OF ENTREPRENEURSHIP
ITS ABOUT HOW WE TREAT AND RELATE TO OTHERS. THIS FILIPINO VALUE ENCOMPASSES OUR
CONCERN FOR HIYA (LOSE OF FACE), PAKIKISAMA (TOGETHERNESS OR COMPANIONSHIP), PAKIKIBAGAY
(ADJUSTING OR ADAPTING TO OTHER PEOPLE) PAGMAMALASAKIT (CONCERN), UTANG NA LOOB (SENSE OF
GRATITUDE), AMOR PROPIO (SELF-ESTEEM) AND BAYANIHAN (COOPERATIVE SPIRIT)
HOW IS THIS VALUE PROMOTE THE IDEALS OF ENTREPRENEURSHIP? THE ROLE OF THE ENTREPRENEUR
IS A PRACTICAL TRANSLATION OF ONE’S PAKIKIPAGKAPWA-TAO BECAUSE HIS MAIN CONCERN IS TO PROVIDE
THINGS AND SERVICES THAT ARE VALUABLE TO OTHERS. THIS MEAN IF WE CULTIVATE THIS VALUE WELL, WE WILL
RUN OUR BUSINESS PROPERLY BY NOT CHEATING OUR CUSTOMERS, MALTREATING OUR WORKERS, COMPETE
PROPERLY WITH HIS COMPETITORS AND PAYS HIS TAXES PROPERLY.

43. FILIPINO VALUES FAVORABLE TO
ENTREPRENEUR
• MANY FILIPINO VALUES PROMOTE RISK TAKING OR LAKAS NG LOOB
THESE VALUES ARE:
BAHALA NA – REALLY IMPLIES STRONG-HEARTEDNESS BECAUSE WHEN A PERSON PERSON SAYS BAHALA NA IT MEANS HE
ALREADY DID HIS PART AND PUTTING IT TO GOD’S WILL (NASA TAO ANG GAWA, SA DIYOS ANG AWA) ; THIS BELIEF IS A UNIQUE
FILIPINO ABILITY TO ACT AS NEEDED IMPARTS MORE OF OPTIMISM THAN FATALISM
GAYA-GAYA (COPY-CAT) – FILIPINOS ABILITY TO LEARN AND ADAPT NEWS WAYS OF DOING THINGS MAY ALSO BE SEEN IN OUR
TALENT OF IMITATION. THOUGH GAYA-GAYA CAN BE BAD FOR THE BUSINESS LONG TIME, FILIPINO CREATIVITY AND
INNOVATIVENESS WILL SOON OUTGROW THE INITIAL ENTRY POINT IN THE BUSINESS TO CREATE A COMPETITIVE ADVANTAGE.
THE SEGURISTAS IN US, MAKES US GAYA-GAYA A TRIED AND TESTED BUSINESS BECAUSE WE HAVE CONFIDENCE (LAKAS NG
LOOB ) THAT IT WILL SUCCEED.

44. FILIPINO VALUES FAVORABLE TO
ENTREPRENEUR
• MANY FILIPINO VALUES PROMOTE RISK TAKING OR LAKAS NG LOOB
THESE VALUES ARE:
PAKIKIPAGSAPALARAN (SENSE OF ADVENTURE)
CLOSE FAMILY TIES
UTANG NA LOOB, HIYA, AMOR PROPIO, AWA, BAYANIHAN

45. FILIPINO VALUES FAVORABLE TO
ENTREPRENEUR
• KATAPATAN AS A VALUE PROMOTES ETHICAL BUSINESS PRACTICES
FILIPINOS HAVE BEEN RAISED WITH STRONG SPIRITUAL VALUES AND MORAL VALUES
• OUR VALUES PROMOTE HARMONIOUS LABOR-MANAGEMENT RELATIONS.
AS A MANAGER HE TENDS TO SHOW MALASAKIT (CONCERN), DAMAYAN (MUTUAL HELP) AND SAMAHAN
(CAMARADERIE); HE TRIES HARD TO BE MADALING MAKAGAAN NG LOOB (EASY TO LIKE) AND TO BE MAAWAIN
(COMPASSIONATE) IN DEALING WITH OTHERS.
AS A WORKER HE TENDS TO BE MAGALANG (RESPECTFUL), MALASAKIT, PAGTULONG (HELPFULNESS), PAGDAMAY
(SYMPATHY) AND PAGPUNO SA KAKULANGAN (UNDERSTANDING OF ONE’S FAULT OR SHORT COMINGS AND
SOLIDARITY)

46. FILIPINO VALUES FAVORABLE TO
ENTREPRENEUR
• OUR VALUES PROMOTE SOCIAL MOBILITY
SOCIAL MOBILITY REFERS TO THE DEGREE OF DIFFICULTY OR EASINESS A SOCIETY OR GROUP OF
PEOPLE ALLOWS A MEMBER TO GO UP OR CLIMB ONE SOCIAL LEVEL TO ANOTHER
• THERE ARE TRADITIONAL FILIPINO TRAITS THAT DRIVE US TO SUCCEED IN ENTERPRISE: SIPAG
(DILIGENCE), KATIPIRAN(FRUGALITY), PAGKAMATIISIN (PATIENCE WITH ENDURANCE) AND PAGTITIMPI
(SELF-CONTROL)

47. CASELET: CONCEPCION’S STORY
FINDING THE FILIPINO VALUES MANIFESTED WITH A FILIPINA ENTREPRENEUR STORY

48. Concepcion was 12 years old when she left home to live with relatives in order to get a good education which her
own family could not afford. Living with relatives in Batangas, she has to work for her keep. A housemaid’s work was lighter
than her labors, she now remembers. Between her household tasks and her school work, there was little time to sleep.
When her grandparents in Manila took her in, her life stared to turn around for the better because they were kind to her.
She tried to be useful around the house whenever she could because she wanted to please them. So as a young
adolescent, she missed out on a lot of things young people usually enjoy – parties, movies and outings. The money from
her grandparents could let her buy new clothes, shoes, and other stuff, but she did not.
She was a high school senior, when World War II broke out. When schools reopened, she taught grade school
briefly and then found a job as a telephone operator in the United States Naval Force at Subic Bay. Around this time, too,
she married a man who turned out to be irresponsible and who let her take most of the responsibility of earning a living
while he took it easy. He also turned out to have contracted a previous marriage. In time, Concepcion succeeded in getting
out of marriage. This failed marriage produced a child.
Years later, Concepcion remarried, this time to an American, an enlisted man in the US Navy with whom she bore
four children. It was her new husband who helped her set up her first business – a jeepney and taxi concession around the
naval base area. When the venture succeeded, she put up a four-storey hotel that combined nightclub and restaurant
facilities.
Caselet 1: Concepcion’s Story
Base from a Case Study by Tiong-Aquino

49. Even when her businesses were starting to earn profit, Concepcion continued to live frugally. Instead of hiring yet
another worker, she found out first if she could do the job herself. When her husband wanted to buy a car going to work,
she bought him instead a bicycle and later a jeep.
Before her second marriage, Concepcion had to bear with disgrace of being a single parent. But this time, she
faced disapproval concerning her business involvement. People were saying: “ How can you succeed in business? You’re
only a girl… you don’t have a college degree!” and “It’s your fate to bear a cross … you can’t change your destiny!” But she
did not let any of these discourage her.
In between raising her children and running a business. Concepcion found time to pursue a college education in
Manila. Commuting daily, she followed a punishing schedule. It was back to fours of sleep a day for her. After finishing a
degree in commerce, she too a degree in law, a master’s degree in public administration and a doctorate degree in
commerce.
During the Vietnam War, the couple hit the jackpot. With shiploads of American servicemen coming to Olongapo
City for rest and recreation, their hotel and restaurant business boomed. They also added more units to their fleet of
taxicabs. In 1967, they organized APEX Motors with two business partners and soon became the exclusive distributor of
Mazda Cars.
Caselet 1: Concepcion’s Story
Base from a Case Study by Tiong-Aquino

50. ACTIVITY: CASELET
READ THE CASE STUDY OF A FILIPINA, WHO BECAME RICH, SUCCESSFUL, AND WELL RESPECTED IN THE WORLD OF BUSINESS. READ
HER STORY CAREFULLY AND PICK UP THE TRADITIONAL PHILIPPINE VALUES GIVEN BELOW THAT SHOWN TO BE A FAVORABLE TO
ENTREPRENEURIAL ACTIVITIES. CREATE A TABLE AND ANSWER FOLLOWING THE FORMAT GIVEN.
Cultural Value Manifestation
Frugality/Thrifty/Matipid As a child, she saved money rather than buy her new
things; as an adult, she didn’t immediately buy a car even
though she could already afford one
FILIPINO VALUES
KATAPATAN MALASAKIT CLOSE FAMILY TIES PAKIKIPAGSAPALARAN
PAKIKIPAGKAPWA TUMATANAW NG UTANG NA LOOB HIYA AWA
LAKAS NG LOOB AMOR PROPIO BAYANIHAN MAAWAIN
PAGKAMALASAKIT MAUNAWAIN MAGALANG PAGPUNO NG KAKULANGAN
PAGDAMAY SAMAHAN PAGDAMAY SIPAG
PAGTITIMPI PROMOTE SOCIAL MOBILITY PAKIKIBAGAY MADALING MAKAGAAN NG LOOB

51. By the 1990s, Concepcion became the president and chairman of Diamond Motor Corporation which at its peak,
ranked among the top ten car dealers in the Philippines, employing 320 people.
As an entrepreneur and manager, she was decisive in dealing with her people. But the tough lady had a soft spot.
She would not hesitate to help any of her staff, especially those who have proven loyalty and commitment. She was as easy
to fall for a sob story as to blower her top. She made it a point to compensate her people generously with profit sharing
schemes and other benefits.
She attributed her company’s success to credit-worthiness. She tried hard to maintain the trust of financing
companies from the time when she was operating taxicabs up to the time she managed Diamond Motors. In turn, the
banks trusted her and gave her almost unlimited credit. She never abused her creditors, she said.
Now retired, having passed on managerial responsibilities to her son. Concepcion Blaylock looks back to her past
struggles with some sadness. At the same time, she is grateful for these experiences for they challenged her and made her
strong.
Caselet 1: Concepcion’s Story
Base from a Case Study by Tiong-Aquino

52. FILIPINO VALUES THAT DETER
ENTREPRENEURSHIP
• TRADITIONAL CHILD REARING PRACTICES HINDER THE DEVELOPMENT OF AN INDEPENDENT ENTREPRENEURIAL SPIRIT
• BELIEF IN THE EXISTENCE OF ALL-POWERFUL FORCES THAT CONTROL A PERSON’S DESTINY MAY DESTROY
ENTREPRENEURIAL INITIATIVES
• AMOR PROPIO MAKES FILIPINO REFUSE TO TAKE FULL RESPONSIBILITY FOR HIS ACTION WHEN HE FAILS
• THE BAHALA NA ATTITUDE , IF NOT, TEMPERED BY INTELLIGENT JUDGEMENT AND PLANNING, MAY LEAD TO IMPRUDENT
DECISION MAKING
• OUR FAMILY AND RELATIVES MAY BE A VERY STRONG SUPPORTIVE GROUP, BUT THEY CAN ALSO DO HARM TO THE
BUSINESS ENTERPRISE
• COLONIAL MENTALITY IMPEDES THE DEVELOPMENT OF A SELF-RELIANT ENTREPRENEURSHIP.

53. PHILIPPINE BUSINESS ENVIRONMENT
AND MICRO, SMALL AND MEDIUM
ENTERPRISE

54. UNDERSTANDING THE BUSINESS
ENVIRONMENT
A BUSINESS ENTERPRISE DOES NOT OPERATE IN A VACUUM BUT IN A DYNAMIC ENVIRONMENT. IT IS
AFFECTED BY: POPULATION TREND, PEACE AND ORDER, POLITICAL, ECONOMIC, SOCIAL, TECHNICAL AND
TECHNOLOGICAL SITUATIONS, GOVERNMENT POLICIES, AND THE GLOBAL ENVIRONMENT.
AS AN ENTREPRENEUR ONE MUST BE ABLE TO NAVIGATE, ADJUST OR ADOPT TO CHANGES.

55. RATIONALE IN PROMOTING MICRO, SMALL AND MEDIUM ENTERPRISE
THE GOVERNMENT HAS LONG RECOGNIZED THE IMPORTANCE OF MSME IN THEIR IMPORTANT AND CRITICAL ROLE IN ECONOMIC AND SOCIAL
DEVELOPMENT OF A COUNTRY. MSMES HAVE THEIR UNIQUE SET OF STRENGTHS AND ADVANTAGES SUCH AS:
•RELATIVE EASE IN SETTING-UP.
•EMPLOYMENT GENERATION
•FLEXIBILITY AND LOWER CAPITAL COST
PER JOB CREATED
•PROVISION OF NICHE SERVICES THAT
MAY NOT BE PROFITABLE FOR LARGE
BUSINESSES
•DISTRIBUTION OF INCOME
•UTILIZATION OF LOCAL RESOURCES
•EXPORT EARNINGS
•“SEEDBED “ FOR ENTREPRENEURS
SOMETHING TO THINK ABOUT…
MSME MAKES UP 99.6% IN THE TOTAL
ESTABLISHMENT IN THE PHILIPPINES; 70% OF
EMPLOYMENT

56. DIFFERENTIATING THE MICRO, SMALL, AND MEDIUM ENTERPRISE IN THE PHILIPPINES
MSME’S ARE DEFINED ON BASIS OF THEIR TOTAL ASSETS AND NUMBER OF EMPLOYEES
CATERGORY TOTAL ASSETS No. of Employees
Micro Enterprise P 3,000,000 or less 1-9
Small Enterprise P 3,000,001 – 15,000,000 10 – 99
Medium Enterprise P 15,000,001 – 100,000,000 100 - 199
The definition does not include classification by each sector (e.g. manufacturing or commerce) or the type of
enterprise.

57. MAJOR CHALLENGES AND ISSUES FOR
PHILIPPINE MSMES
• COMPETITION IN EXPORT MARKETS AND INFLUX OF MASS PRODUCED PRODUCTS AT CHEAPER PRICES
• EXISTENCE OF SMALL DOMESTIC MARKETS AND LIMITED LOCAL MARKET
• NEED FOR IMPORTED PARTS AND MATERIALS AND LIMITED INDUSTRIAL LINKAGES
• LACK OF BASIC MANAGEMENT TECHNIQUES
• BARRIERS TO START-UP BUSINESS, LACK OF SUPPORT IN THE AREAS OF FUND RAISING, RESEARCH AND
DEVELOPMENT
• LIMITED ECONOMIC ACTIVITIES AT THE LOCAL LEVEL

58. LIMITATIONS AND WEAKNESSES OF MSMES
• OUTMODED, LESS PRODUCTIVE METHODS OF OPERATION
• INEFFICIENT USE OF APPROPRIATE TECHNOLOGY
• LIMITED ABILITY TO GAIN ECONOMIES OF SCALE
• INSUFFICIENT MANAGEMENT AND PROFESSIONAL KNOW-
HOW
• INSUFFICIENT AND INACCESSIBLE FINANCIAL SOURCES
• UNAPPRECIATED AND INADEQUATE PROFESSIONAL
SERVICES
• INSUFFICIENT INCENTIVES AND INABILITY TO MEET
REGULATORY PROCEDURES
• INSUFFICIENT ACCESS TO “RELEVANT AND SIGNIFCANT”
INFORMATION
• LOW ACCESS TO CAPITAL
• LOW FIXED ASSETS AND PROFITABILITY
• INADEQUATE KNOWLEDGE OF MARKETS AND NARROW
ACCESS TO MARKETS

59. MSME AND HUMAN DEVELOPMENT

60. ENTREPRENEURSHIP AND HUMAN
DEVELOPMENT
MICRO, SMALL AND MEDIUM ENTERPRISE (MSME) CAN ATTAIN HIGHER LEVEL OF HUMAN DEVELOPMENT
ESPECIALLY IN DEVELOPING COUNTRIES.
HUMAN DEVELOPMENT IS THE SUM OF ALL EFFORTS TO IMPROVE THE SITUATION OF PEOPLE . ITS END GOAL
IS TO EXPAND THE CHOICES OF PEOPLE . (THIS IS PROVIDE PEOPLE WITH AN ENABLING THE ENVIRONMENT
THAT FACILITATES FREEDOM FROM BASIC NEEDS AND WANTS.

61. 3 CORE VALUES OF HUMAN ECONOMIC
DEVELOPMENT
• LIFE SUSTENANCE
THE ABILITY OF THE ECONOMYTO PROVIDE THE BASIC NEEDS. THE ECONOMY MUST BE ABLE TO PROVIDE TO AS MANY PEOPLE
POSSIBLE THE MEANS OF OVERCOMING THE HELPLESSNESS AND MISERY ARISING FROM THE LACK OF FOOD, SHELTER, HEALTH
AND PROTECTION
• SELF-ESTEEM
THE EXTENT ONE CAN BECOME A PERSON. THIS IS THE SENSE OF ONE’S SELF-WORTH AND SELF RESPECT, OF NOT BEING USED AS
A TOOL BY OTHERS FOR THEIR OWN SELFISH ENDS. ALL PEOPLE AND SOCIETIES SEEK SOME BASIC FORM OF SELF-ESTEEM,
OFTEN TIMES CALLED BY OTHER NAMES LIKE AUTHENTICITY, IDENTITY, DIGNITY, RESPECT, HONOR OR RECOGNITION. THE
NATURE AND FORM OF SELF-ESTEEM VARIES FROM ONE SOCIETY TO ANOTHER AND FROM ONE CULTURE TO ANOTHER.

62. 3 CORE VALUES OF HUMAN ECONOMIC
DEVELOPMENT
• FREEDOM FROM SERVITUDE
THE EXTENT THAT A PERSON IS FREE IN MAKING CHOICES – IN LIBERATING ONESELF FROM ALIENATING
MATERIAL AND CONDITIONS OF LIFE AND FROM SOCIAL-SERVITUDE TO NATURE, IGNORANCE, DOGMATIC
BELIEFS, AND OTHER PEOPLE. FREEDOM INVOLVES THE EXPANDED RANGE OF CHOICES FOR SOCIETIES AND
THEIR MEMBERS TOGETHER WITH THE MINIMIZATION OF EXTERNAL CONSTRAINTS IN THE PURSUIT OF
SOCIAL GOALS THAT IS CALLED DEVELOPMENT
----- PROFESSOR DENNIS GOULET OF HARVARD UNIVERSITY

63. SOURCES
BOOK
• INTRODUCTIONTO ENTREPRENEURSHIP REV ED. 2007, SMALL ENTERPRISE RESEARCH AND DEVELOPMENT FOUNDATION AND
UP INSTITUTE FOR SMALL-SCALE INDUSTRIES, COPYRIGHT 1989
INTERNET
• HTTP://WWW.TOPTEN.PH/2014/08/30/TOP-10-BEST-RAGS-RICHES-PINOY-STORIES/
• WWW.BUSINESSDICTIONARY.COM/DEFINITION/ENTREPRENEURSHIP.HTML
WORKSHOP
• THE ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT, RESURRECION, ANGELITA A. , SERDEF TRAINING FOR
ENTREPRENEURSHIP EDUCATORS, UP DILIMAN, NOVEMBER 27, 2017

64. References
• Introduction to Entrepreneurship by SERDEF, revised edition 2007
• Entrepreneurship: Study and Practice by SERDEF
• Product Development for Small Enterprises by SERDEF
• Windows to Entrepreneurship by SERDEF
• Entrepreneurship by Dr. Eduardo A. Morato, Jr.
• Dr. Carl E. Balita’s Entrepreneur in 12 Days: Young People’s Guide to
Entrerpeneurship by Lyca Agnes M. Balita
• Entrepreneurship: Mastering the Four Gates to the House of Prosperity by Josiah Go
and Chiqui Escareal-Go

65. References
• https://www2.warwick.ac.uk/fac/soc/law/elj/lgd/2016-1/oconnor_finalfinal.pdf
• Essays, UK. (November 2013). The Difference Between Culture Industry And Creative Industry
Business Essay. Retrieved from https://www.ukessays.com/essays/business/the-difference-
between-culture-industry-and-creative-industry-business-essay.php?cref=1
• http://creativeconomy.britishcouncil.org/media/uploads/files/English_mapping_the_creativ
e_industries_a_toolkit_2-2.pdf
• http://www.worldcreative.org/
• http://www.worldcreative.org/wp-
content/uploads/2015/12/EYCulturalTimes2015_Download.pdfhttp://www.worldcreative.or
g/wp-content/uploads/2015/12/EYCulturalTimes2015_Download.pdf
• http://portal.unesco.org/culture/en/files/30297/11942616973cultural_stat_EN.pdf/cultural_
stat_EN.pdf
• http://www.creativitycultureeducation.org/wp-content/uploads/CCE-lit-review-creative-
cultural-industries-257.pdf
• https://www.slideshare.net/mysanslide/philippine-creative-industry-final-april29-
6736729?from_action=save