Handout 3

Question 1

Entrepreneurs are pushing through this not because they are hard to work with or hate the idea of submitting themselves to authority but because of being tired of working for a traditional job or simply having the desire to have their firm.

Answer 1

Becoming boss

Question 2

some existing ventures or corporations are not open to any changes or ideas for development. Entrepreneurs are fond of seeing their ideas in front of them, and turning it into a business is the best way to do so.

Answer 2

Pursuing own idea

Question 3

Entrepreneurs find it fulfilling to do the things they love while at the same
time generating money from it.

Answer 3

Financial rewards

Question 4

Being resourceful and creative are natural to entrepreneurs. Entrepreneurs keep on finding ways to adapt to changes and the development of the world.

Answer 4

Develop new markets

Question 5

Entrepreneurs are naturally innovative. They keep developing ways to have sources of materials that make them ahead of others that never see the need to improve existing
materials.

Answer 5

Discover new sources of material

Question 6

In facilitating labor and capital, entrepreneurs take over a load of organizing and coordinating their production.

Answer 6

Mobilize capital resources

Question 7

Taking every opportunity to have a profitable result, entrepreneurs are pushing through every day to produce a new or unique product.

Answer 7

Introduce new technologies, new industries, and new products

Question 8

Businesses are the largest sector that employs people. It provides products or services to suffice the need of the consumers, but they also hire people who will work for production

Answer 8

Create employment

Question 9

relates to the ability of an industry to cope with the changes in the market.

Answer 9

Globalization

Question 10

the second force magnify the youth’s participation as they are the ones whose awareness is observable regarding the influences of these industries on nature, society, and the economy.

Answer 10

Contribution and effects

Question 11

in terms of sustainability and awareness of the environment is another force that exemplifies the importance of sustaining the core values of a destination over traditional development.

Answer 11

Balance

Question 12

industries must be able to immerse to the changes and transitions of the environment and the market itself

Answer 12

Adaptability

Question 13

the ability of these two (2) industries to cope up without compromising the market conditions

Answer 13

Self-control

Question 14

a disadvantage or the negative part of the situation

Answer 14

drawback

Question 15

a likely mistake or problem in the situation.

Answer 15

pitfall

Question 16

Success in business boosts one’s pride, but when it grows, an entrepreneur must be able to abandon his ego

Answer 16

Ego-tripping

Question 17

Sexier in business is not always what is around. Entrepreneurs tend to go big and far because they are fond of jumping from new ideas to another.

Answer 17

Chasing sexy

Question 18

Growing business means growing people, not only in skills but in numbers. It is important to trust people by giving them work and believe that they can and will do it.

Answer 18

Distrusting the trust

Question 19

Many starting or developing entrepreneurs can either be of good leadership or not.

Answer 19

Poor or non-existent management skills

Question 20

This factor occurs when an entrepreneur became too complacent or comfortable with his/her invention or produced a business that he/she stopped adapting to the changes of the market and the needs of the people.

Answer 20

Inability to manage adverse external impacts occurring in the business environment such as rising inflation and interest rates

Question 21

To put up an opportunity into business, entrepreneurs invest financially. Most aspiring businessmen or entrepreneurs underestimate the large amount of money they need to
start a business.

Answer 21

Insufficient capital

Question 22

Relating this to ego and distrusting others, no man is an island. For an entrepreneur to continue to grow and handle his venture successfully, he must be willing to accept advice, especially those coming from people who are doing the business for a long time

Answer 22

Resisting to accept others’ advice