1.
Do you think entrepreneurship is not for everyone? Why or why not?
In my opinion, as each and everyone of us are unique and creative individuals, with each of
our own interests, if they so choose, anyone can give something new to the market and they can
make a business out of it. But, being a business owner is lots of work and commitment that one can
imagine. It is very risky financially and could go downhill if one mismanages the outcome of their
business. These burdens can be hard to contain for a lot of people so many simply go for financially
stable jobs under companies and such. Basically , anyone can be an entrepreneur but not everyone
has the capacity to be one.
2.
Why is the environment considered a factor in the success or failure of entrepreneurship?
Environment factors the outcome of entrepreneurship as if one person is surrounded with a
stable capital, proper investors, accessible supplies, skilled employees, good government policies,
good amount of potential consumers, etc. then the business is most likely to succeed. When these
opportunities are not given to a business owner then they are most likely to fail and suffer lots of
losses. Those who have less chances to have their business go through are those in poorer areas as
usually, new businesses are almost non-existent there and financial support is deemed less in there.
That’s why it is noticed that many who do their start-up and want to have massive corporations, they
always set their business in the capital in their country. Like if it’s in the Philippines, places in Cebu
and Manila have business that flourish more as compared here in Region 8.
3.
What does “personality” mean? What does it include?
Personality means the characters and behaviors an individual has that distinct him/her
from the rest. It includes consistency where you see that certain behavior being acted upon from
time to time and in a particular way. It is both physiological and psychological where the
environment also affects one's personality. Also it is multiple expressions, we display not just one
behavior and it can vary from person to place.
4.
What personal traits are considered essential to the entrepreneur?
Personal traits essential for entrepreneurs:
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Self-disciplined
Hard-working
Dedicated
Creative
Decisive planner
Considerate
Integrity
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5.
Confident
Networking
Risk-taker
Describe “self-confidence” as a desirable trait of the entrepreneur.
Self-confidence is something that keeps a person moving forward to success as they
believe in themselves that they should be able to attain the best outcome that they could possibly
muster. It is a desirable trait as they think they are capable of asserting their skills and put it into the
most valuable use and in return give them positive gains. They are able to give their all to a work in
the fullest potential and everything always starts with one person. Having confidence in one's self is
crucial to keep a business going especially with the highs and lows one can face in their
entrepreneurial journey.
6.
When is a person considered a “reasonable risk-taker”?
A person is considered a reasonable risk-taker if they take risks but its results can
guarantee good returns. One cannot venture on a business that has shown to not work or thrive in
the market at all. It is better to take risk when it has shown that it has the chance to be a big hit in the
market and has consumers who are demanding a certain product for their usage and satiate their
wants. Also, the amount of capital you pour into a business also could factor if one is a reasonable
risk-taker. They shouldn't pour all their money into business, that is too irrational and puts their whole
life into jeopardy to do such a thing. It is reasonable at least that only a portion of one's money into
business and the other for their personal needs and insurances.