CENTRO ESCOLAR UNIVERSITY

Legaspi, Makati City Entrepreneurship Prelim Exam Prepared by Mr. Jeoffrey Tuano-Solas

Name: LLORCA, Donabelle S. Course / Year & Section BSHRM4A

I.

Answer the following questions within 100 WORDS only and with reference to facts. Some questions would require you to provide links or references the clue is SUPPORT your answer, limit them to three (3) only.

1. What are the challenges why entrepreneurship is less likely to be

considered by fresh graduates as a career option? SUPPORT YOUR ANSWER. Fresh graduates opt to disregard entrepreneurship maybe for the reasons that they are afraid of risks because theyre still lacking in experience, or even worse, they dont have the capital to start with. Starting up your own business will absolutely be full of risks and challenges. There is no assurance that your choice of business will make its way to profitability and make all your efforts worth. The amount of work put out is the amount of return obtained, hence, implying an irregular salary depending on the business success. Though others may think that it is advantageous to have your own business because you have a flexible schedule, it is also disadvantageous because you have to make sure that all is doing well all the time, regardless if regular working hours are already over. SUPPORT LINKS:
entrepreneur.html http://ezinearticles.com/?Entrepreneur-Advantages-andDisadvantages&id=618160 http://library.thinkquest.org/C008486F/iva.htm http://www.ehow.com/info_8206561_disadvantages-being-

Why is there a need to professionalize entrepreneurship considering that some of them are not college graduates? Can you provide me a name who is both an entrepreneur and with college or post graduate degrees? SUPPORT YOUR ANSWER.
2.

Entrepreneurship is a difficult undertaking. It requires critical thinking and ample knowledge because it involves a lot of risks. An entrepreneur is engaged in planning and starting the business, taking advantage of a business opportunity, assuming the risks of a business venture, and providing some kind of innovation thus creating the need of professionalization to transform entrepreneurship into a true profession of the highest integrity and competence and to have the capacity to lead the business to victory. A young entrepreneur with a college degree that I know of is the famous Chris Tiu. He is a graduate of BS Management Engineering and BS Applied Math
and Finance from Ateneo de Manila University, owner of the food stall in Ateneo called Chinky Chickens and also the one who brought Happy Lemon to the Philippines.

SUPPORT LINKS:

http://www.referenceforbusiness.com/encyclopedia/Enthttp://english.turkcebilgi.com/Entrepreneurship+education http://www.theguidon.com/1112/main/2011/12/chris-tiu-

Fac/Entrepreneurship.html#b

conversations-and-confessions/

3. Justify that entrepreneurship is non sexist (for men only or women only) and for old people only. Attach below a picture of him/her with their profile, and the business profile. Entrepreneurship represents ideas, innovation, talent, organizational skills and risk. We are probably familiar with some of the internationally famous entrepreneurs like Bill Gates and Oprah Winfrey and Filipino entrepreneurs like Ben Chan and Henry Sy but entrepreneurs come in all ages, genders, shapes and sizes. The old man selling fish balls is an entrepreneur. The young boy selling newspapers is one, too. The old lady who sells dried fish on our palengke is an entrepreneur, as is the manong collecting old newspapers and bottles to sell for recycling. In spite of their variety, entrepreneurs have some things in common: They often take risks, and they are self-starters who think creatively. Ben Chan & Bench Ben Chan is a prominent Chinese-Filipino entrepreneur who is the founder of the Philippines largest clothing chain, Bench, under the trademark Suyen Corporation. With his world class fashion style and hardworking ethic, he has expanded the Philippine clothing chain into international markets including China, the land of his forefathers. He is dubbed as one of the most prominent people in the country as mentioned in the Philippine Tatlers list of Whos Who of the Philippines.

Jolina Magdangal: A Starpreneur Jolina experimented with beads, nylon and wires which was bought from Divisoriaand Quiapo. Then she wore her creations on all her shows. Soon many of her acquaintances, friends and fans in showbiz began ordering and buying her accessories. She use her spare

time making jewelries and fashion accessories and usually over ten pieces a week. Because of her love and talent for making those jewelry, she taught of making it into a business. Then she started her family business named Jolinas Fashion Gallery on November 1998. She and her sister were assigned to the design and her parents in finance. And obviously, since she was in showbiz, advertising was part of her job too. Her store doesnt only sell fashion accessories, also t-shirts, dolls, bags and other fashion items. Using TV shows and bazaars as means of promotion in just two years she got her investment back. Truly shes one of a kind entrepreneur and despite of being a celebrity and young age she has this entrepreneur spirit. She also host the Masigasig TV show that features entrepreneurs tips and success stories.

Chris Tiu and Happy Lemon Happy Lemon is an international brand that opened five years ago in Hong Kong, and now spans over 100 branches in the world. The trendy brand has set up shops in countries like China, Singapore, Australia, and now the Philippines. For those who are unaware, it was brought to Manila by a group of tea-loving friends, comprised of Smart Gilas basketball player and TV host Chris Tiu, siblings Kelvin and Kristine Gaisano, and their associates Andres See, Charles Chua, Wesley Pardilla, and Edward Go. It is under the company Happy Lemon Group Philippines, Inc.

SONA is one of the important social events where the President of our country is addressing relevant issues. As entrepreneur, what are the information you are most likely be interested of discovering? Expound on its relevance to your chosen project. SUPPORT YOUR ANSWER.
4.

As an entrepreneur, I was suddenly interested on the SONA when he mentioned about the GDP growth of the Philippines. I was really questioning the validity of those statements that the Philippines is already next to China in Asia with regards to it. I was also engrossed when he brought up an issue about the investors. Also, when he said about the unemployment, I am very sure that he is aware that entrepreneurship is one of the foundations of immense revenues for the Philippines. With our chosen project, the cake pops, we will be establishing a cake shop opening its doors to the unemployed. We will be a giving them a source of income for them to be able to support their need, hence, the number of unemployed Filipinos will be lessened. SUPPORT LINKS:
address-2012.html http://www.mibiz.com/news/small-biz/19759-ferris-seeksstronger-ties-to-business-with-new-entrepreneurship-institute.html http://ideas.repec.org/p/dgr/uvatin/20010074.html http://ph.news.yahoo.com/aquino-s-state-of-the-nation-

5. In the article of 7 Tips to Successful Fundraising for Young Entrepreneurs what are the suggestion you could come up and make it happen within the semester? State your requirements, the challenges, and how innovative your project could be? As a performer, I easily thought of putting up a show as a fundraising activity. I would present known dancers, singers and bands that would be the highlight of the event. On the event venue, goers can roam around as there will be booths of different kinds like food and drinks stall, souvenir shops, fashion items, and a lot more which also be the reason on why people would come to the event. I would also include a raffle on the program and the prize would be different items from the booths, thus, it will also be a way to promote and encourage them to buy from the booths.

6. With the article Young Entrepreneur carves a Creative Niche with USC Drives formulate your SWOT analysis. Present this in a matrix.

Strengths -Product is very creative and is sure to catch attention -Can easily be produced with just a few pieces of the items needed -Does not need a big capital -Does not require skills to produce the item Opportunities -Product is very innovative -Less competition -Can merge with others (can supply products to computer gadget stores, souvenir shops, etc.)

Weaknesses -May be poor product quality because he just used glue to attach the animal to the USB

Threats -Price wars : because there are a lot of more cheaper USB drives with designs

7. What is your group projects SWOT analysis? State three recommendations based on the Weaknesses and Threats.

Strengths -Product is addicting and delectable -Can be consumed anytime -Creative and artistic -Catchy -Requires minimal skills to produce Opportunities -Product is very innovative -Product can be used simply as something to eat, or a gift, etc. -Can open up shops in different locations

Weaknesses -Small market because of the products we will be using for the cake pops like the liquor, etc.

Threats -Price wars : because there are a lot of other cake pops sellers which sell lower than our price

8. What is/are the social relevance of your group project that would assure your inclusion in the national business plan competition? Support your answer with a video (Youtube or vimeo) As said before, our group project would be definitely helping out especially to the unemployed. As entrepreneurship is one of the foundations of immense revenues for the Philippines, with our chosen project, the cake pops, the established cake shop will also help out to the locals because we will be using local products and the Filipino talent. We will be a giving the unemployed Filipinos a source of income for the future employees to be able to support their need, and so, the number of unemployed Filipinos will be lessened.

Give me at least three (3) businesses that is competing in your business concept. State their operations and the concept that you deem that they are your competitors. SUPPORT YOUR ANSWER.
9.

Most of our competitors are online sellers. We are selling the same product which is the cake pops. They make the cake pops, sell them online and ship them to the customers. Our only advantage is we would establish a location where our customers can purchase our cake pops. We will be using different local products such as our local fruits, liquors, etc.

SUPPORT LINKS:
http://www.sulit.com.ph/index.php/view+classifieds/id/5297023/Customize+Cake+Po ps?referralKeywords=cake+pops&event=Search+Ranking,Position,1-3,3 http://www.sulit.com.ph/index.php/view+classifieds/id/4536449/Cake+Pops? referralKeywords=cake+pops&event=Search+Ranking,Position,1-4,4 http://www.sulit.com.ph/index.php/view+classifieds/id/5203470/Cake+Pops+for+any +Occasions...+Christening%2C+Birthday%2C+Giveaways? referralKeywords=cake+pops&event=Search+Ranking,Position,1-5,5