GUIDED REFLECTIVE JOURNAL NO.1 1. What is the best contribution of entrepreneurship in nursing? Why?

Entrepreneurship works to stir the minds of nurses looking for financial stability here in the Philippines. It stimulates creativity and innovation in giving services to the populace. 2. In discussing the different development and growth theories, what do you think is the best? Explain. Endogenous growth theory describes best how an economy can quickly progress in a country. It is important to invest in human capital. In the long run, what people learn in the process will determine what they will eventually earn. Things, ideas based on research and newly acquired knowledge serves as fuel for more innovations and it also serves to address pressing needs in the society nowadays since change is constant and there is a constant clamour for something new. 3. How can economic nationalism help our economy? Economic nationalism favors the local industry because of its diminished foreign competitors. The rise in the local industry means more employment for the countrys citizens, more money generated to meet the needs of the people living in the country, and more opportunities for growth within the society to fearlessly venture and engage in small and large scale business pursuits aimed at providing services in par with those given by foreign industries. The citizens of the country are empowered because of the guaranteed support they get from the government as well. 4. What is the role of government in economic development? The government plays a large role in regulating goods and services provided by local and foreign investors. It is largely dependent on the government whether they will embrace and ideology that would best support the economy of a particular country. It is critical whether they will embrace globalization or economic nationalism which either way can largely affect the economy of a country. From these will stem out the different policies that will be firmly imposed on the investors, foreign and local alike, largely affecting their business and trade in the country. It is up to the government whether they will implement policies that will make Philippines a fertile soil for more business and job opportunities. 5. Relate political stability to growth of entrepreneurship. Political stability creates a nurturing environment for businesses to thrive. Having a stable political environment ensures the proper implementation of policies and protection of consumers and employees. The government regulates its commerce effectively by having a

stable political environment. Therefore making certain amendments protects the rights of investors. For an instance, making financial information public also facilitates further venture. 6. Explain one program of the government for the development of micro or small business. DOLE launched the Entreprenurse program in collaboration with other government and non-government organizations which aimed to provide an alternative source of income for unemployed registered nurses. This government initiative aims to deploy nurses to different areas in need of public health services.

GUIDED REFLECTIVE JOURNAL NO.2 1. In your opinion, what is the difference between an entrepreneur and a leader? A leader is a person who effects positive change and influence on other people. An entrepreneur on the other hand, utilizes his or her leadership ability in working hand in hand with other people or entrepreneurs to provide quality services or products. 2. What are the determinants of successful entrepreneurship? Explain one. Alertness and foresight Bear risk Good fortune Leadership Good luck Leadership A successful business entails working in an organization led by experienced and skilled leaders. Leaders should be equipped in providing guidance and direction to their employees, inspiring, motivating, and coaching them in order to increase their dedication to the desired goals of the company. 3. How would you explain Gandhis statement: The progress of a country depends not on mass production, but on the production of masses? The advancement of the economic stability of a country depends on its peoples self-reliance and ability to maximize their resources and produce their own goods. When people strive to be independent of the external market, they begin to work hand in hand for the good of the economy, they are able to take care of themselves by making products that later on would be used by the people in a community. Gandhis statement emphasizes economic nationalism where people work together and consume the goods they produce

hereafter. Gandhi knew that globalization (which somehow opposes the idea of economic nationalism) will inflame the desire of countries to export more and import less causing a drastic imbalance in the economy leading to economic crisis and unbridled unemployment.