Entrepreneurship

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. Did you know that in the Philippines Based on 2014 figures provided by the Philippine Statistics Authority (PSA), there are 946,988 establishments in the Philippines. Of these, 99.6% (942,925) are micro, small, and medium enterprises (MSMEs) and the remaining 0.4% (4,063) are large enterprises. Of the total number of MSMEs, 90.3% (851,756) are micro enterprises, 9.3% (87,283) are small enterprises, and 0.4% (3,886) are medium enterprises.

11. Creative Industry and Cultural Industry Leading the World Economy in the 21stCentury

12. 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"

13. CCI Sector World Economic Contribution and Employment • 2,250 billion $US Global CCI Revenue • 3% of the world’s GDP • 29.5 million jobs Global CCI Employment • 1% of the world’s active population The top three employers are visual arts (6.73m), books (3.67m) and music (3.98m). • Exceed Telecom services revenues (US$1,570bn) • Surpass combined jobs of Automotive industry in Europe, Japan, and US (25 million) *figure and facts are taken from worldcreative.org

14. 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

15. A MULTIPOLAR CREATIVE WORLD * % of global CCI revenues ** % of total CCI jobs

16. Driving the Digital Economy 200 bn $US • Contribution to Global Digital Sales 530 bn $US • Total Sales of Digital Devices 66 bn $US • Digital Cultural Content B2C Sales 21.7 bn $US • Ad Revenues from Online Media and Free Streaming

17. CCI CONTRIBUTION BY SECTOR Sectors by revenues (US$ bn) Number of jobs (in ‘000)

18. 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.

19. 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

20. 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

21. 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.

22. 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.

23. Example of 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.

24. 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.

25. BUILDING A MORECREATIVE 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.

26. 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

28. “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

29. WHAT IS COMMON ABOUT THESE FILIPINO OWNED COMPANIES?

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

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

32. BY DEFINITION ENTREPRENEURSHIPIS THE CAPACITY AND WILLINGNESS TO DEVELOP, ORGANIZE AND MANAGEA BUSINESS VENTURE ALONG WITH ANY OF ITS RISKS IN ORDER TO MAKE A PROFIT. THE MOSTOBVIOUS 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 SPIRITIS 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.

33. 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

34. AN ENTREPRENEUR IS NOTANY 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 FINANCIEROR INVESTORAND 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 PROFESSIONALOR 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.

35. 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.

36. THE ENTREPRENEUR ACCORDING TO PAULWILKEN … ONE WHO COMBINES FACTORS OF PRODUCTION TO INITIATE CHANGE OF GOODS (AND SERVICES)

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

38. 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

39. 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 THEIRPRODUCT; 2) INFORMALLY BY SEEKING INFORMATION FROM FRIENDS OR ACQUAINTANCES; 3) DO TRIAL PRODUCTION RUNS, CONDUCT MARKET TESTS FOR THEIR PRODUCTS.

40. 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.

41. 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; THEYALWAYS HAVE CONTINGENCY PLANS FOR UNFORESEEN EVENTS.

42. 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 ISALSO 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

43. 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 THEMOST REWARDING, FULFILLING AND CHALLENGING CAREER. BUT IT CAN ALSO BE VERY RISKY AND FRUSTRATING AND DEMANDING.

44. 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

45. DO FILIPINOCULTURE 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 CULTUREIN 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.

46. PHILIPPINE CULTURAL VALUES AND ENTREPRENEURSHIP  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) 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: 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?

47. FILIPINO VALUES FAVORABLE TO ENTREPRENEUR • PAKIKIPAGKAPWA VALUES PROMOTE THE IDEALS OF ENTREPRENEURSHIP ITS ABOUT HOW WE TREAT AND RELATE TO OTHERS. THIS FILIPINOVALUE ENCOMPASSES OUR CONCERN FOR HIYA(LOSE OF FACE), PAKIKISAMA (TOGETHERNESS OR COMPANIONSHIP), PAKIKIBAGAY (ADJUSTING OR ADAPTING TO OTHER PEOPLE) PAGMAMALASAKIT (CONCERN), UTANGNALOOB (SENSE OF GRATITUDE), AMORPROPIO(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 WECULTIVATE 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.

48. FILIPINO VALUES FAVORABLE TO ENTREPRENEUR • MANY FILIPINOVALUES PROMOTE RISK TAKING OR LAKASNG LOOB THESE VALUES ARE: BAHALANA–REALLY IMPLIES STRONG-HEARTEDNESS BECAUSE WHEN A PERSON PERSONSAYS BAHALANAIT MEANS HE ALREADY DID HIS PART AND PUTTING IT TO GOD’S WILL (NASATAOANG GAWA, SADIYOSANG AWA) ; THIS BELIEF IS A UNIQUE FILIPINOABILITY 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, FILIPINOCREATIVITY 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 (LAKASNG LOOB ) THAT IT WILL SUCCEED.

49. FILIPINO VALUES FAVORABLE TO ENTREPRENEUR • MANY FILIPINOVALUES PROMOTE RISK TAKING OR LAKASNG LOOB THESE VALUES ARE: PAKIKIPAGSAPALARAN (SENSE OF ADVENTURE) CLOSE FAMILY TIES UTANGNALOOB, HIYA, AMORPROPIO, AWA, BAYANIHAN

50. FILIPINO VALUES FAVORABLE TO ENTREPRENEUR • KATAPATAN AS A VALUE PROMOTES ETHICAL BUSINESS PRACTICES FILIPINOSHAVE 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 MADALINGMAKAGAANNG 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 PAGPUNOSAKAKULANGAN(UNDERSTANDING OF ONE’S FAULT OR SHORT COMINGS AND SOLIDARITY)