Entrepreneurship
Assignment of Group 4
Suggested Learning Activities
1. Ask two entrepreneurs about their business today. What were their reasons for setting up their
business? How would you classify these entrepreneurs based on that types of entrepreneurs as
identified by the GEM?
The female entrepreneur we had interviewed has a sari-sari store. She said that the reason why she
put up this kind of business is for extra income. She wants to help her husband to support their three
children and to use her extra time to help for their expenses.
The male entrepreneur we had interviewed has also a sari-sari store run by their family. They have
this kind of business because of his mother’s side also has this kind of business. They pursue this
because it’s the easiest way to have extra income plus the fact that he didn’t finish his studies, this
could help him save money to continue schooling.
We can say that they both entrepreneur with innovative characteristics.
2. Surf the internet and find examples of Filipino entrepreneurs whose lives have been featured in
a newspaper, a magazines, or a web blog. Based on published data, reconstruct the process by
which they set up their business. Use the entrepreneurial guides.
Tony Tan Coktiong, Jollibee.
His family was an immigrant from China. His father started a Chinese restaurant to support him for
college. In 1975, he bought a Magnolia ice cream parlor. But it’s not enough for the business so he
included French fries, sandwiches, and fried chickens on the menu then eventually, opened 6 more
stores, adapting the McDonald’s concept and name this after his work ethics of being as “busy as a bee.”
Alfredo M. Yao, Zest-O
Alfredo Yao lost his dad at the age of 12. His mother supported him and his siblings by being a street
vendor. But it’s not enough for him to complete his college so he took different jobs, included at the
printing press. His experience in this job made him started his own printing business. His business is
doing well, however he discovered Doy Packaging system. It’s the turning point of his career. He tried to
sell the system to juice manufacturers but no one was interested. Since then, he tried to venture the
juice business, tried different juice flavors in his kitchen. Thus, the birth of Zest-O!
3. Seek an appointment with a local bank manager in your community and ask him/her why he/she
pursued a career in banking instead of being an entrepreneur. Meanwhile, search the most
successful entrepreneur in your community and ask him/her why he/she opted to be an
entrepreneur instead of pursing a formal employment. From their answer list down the
advantages and disadvantages of being an entrepreneur.
The manager we had asked said that he didn’t want to pursue entrepreneurship because of the risks.
It will be a waste of time, effort, and of course money if the business he would set up don’t succeed.
That’s why he settle for the work he has now for it has sure income unlike in business.
The entrepreneur we had asked said that at first it was just because she’s enjoying baking and didn’t
thought that she would earn from doing the things she loves. And eventually she continue pursuing
this business because of her passion to create beautiful and delicious cakes.
Advantages of being an entrepreneur:
• You could have larger income than the employers.
• You own your time.
• Your business could be an outlet of your creativity.
• You can do the things you love while earning.
• You don’t need to exert a lot of strength.
Disadvantages of being an entrepreneur:
• If there’s no order, there’s no income.
• Can be a waste of time, effort, and money.
• Lots of risks.
• You need to exert a lot of effort to popularize your product.
4. Search for five successful Filipino entrepreneurs in the internet. Based on what has been written
about them, rank them in terms of their appetite for risk managing their enterprises. Explain the
ranking that you constructed.
Henry Sy,
Tony Tan Caktiong,
John Gokongwie,
Alfredo Yao, and
Diosdado Banatao
For us, Henry Sy has the highest appetite risk because even though he didn’t attain a college
diploma, he still pursue and take risk on his money even though he is not sure on the outcomes of
his business.
