Name: Farrah Grace M. Caliwan
Subject: The Entrepreneurial Mind
Course &Section: BSED-Mathematics 2
Date: February 4, 2021
Exercise 3.2
Place your answers on a separate sheet of paper.
1. List down the entrepreneurial firms in your city/municipality. In what ways
do you think do these entrepreneurial firms in your community contribute to
the economy?
Answer: Some of the entrepreneurial firms in my city/municipality are the following:
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Machica Bakeshop
6809 Burger
Allyza’s Coffee Plus
La Tazza Café-Bar
Dandz Graphics
Active 4567 Graphics
Smileys
Guiuan Lending Corporation (GLC)
Naputo Pharmacy
Megan’s Marketing
Quali General Merchandising
Happy Ashter
Rochellyn Gift Center
Silogan sa Guiuan
I think these entrepreneurial firms in my community contribute to the economy in
ways like providing job opportunities for many people or employment, addresses vital
commodity constraints while also providing unique products, and it also promotes
innovation which is necessary for the industry’s competitiveness in the global market.
In addition, these entrepreneurial firms in my community also contribute to the
economic development since it aids my municipality in terms of a balance regional
development as well as local development. Because of the new business being
established, there is growth and productivity in my municipality.
2. Explain the importance of entrepreneurs in the economy by drawing any
picture (can be abstract) that shows how you view entrepreneurship in the
Philippines.
3. In what ways do you think has the pandemic affected our entrepreneurs?
List down problems met by our entrepreneurs that you have observed during
the pandemic and how they are coping right now.
Answer: I think the pandemic has affected our entrepreneurs in so many ways. I
observed that the problems met by our entrepreneurs that also affect the whole
industry include:
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More limited travel of goods, products, and salespeople
More remote working and remote meetings due to the impact of physical
distancing
More expenses in the procurement of body temperature scanners, personal
protective equipments or PPE, because of the need to follow safety protocols.
Reduction in the number of customers due to the crisis of the pandemic
Limited personal transactions
Entrepreneurs are fighting misinformation, mobilising community action to protect
the vulnerable, and developing new products and services. Despite of these
challenges and limitations in this present situation, entrepreneurs still develop ways
on how their business will survive amidst the pandemic. They are generating new
techniques and methods which are suited in order to continue their ventures. Some
are switching to online transactions when it comes to billing, procurement, and
communication with other business partners or consumers. The dining and food
services or businesses, for an instance, have provided delivery (via hired delivery
men) or take-out as options for the customers to choose from. The entrepreneurs are
coping by establishing new opportunities and products that they can venture which is
appropriate in this time of pandemic.