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    Entrep Mind Week 1 - 9

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    peter banjao
    The document discusses an entrepreneur named Rose who owns a successful restaurant but must now decide whether to close it to manage her late mother-in-law's palay trading business and properties which have been inherited by her husband. Rose is torn as her restaurant has seen increased profits but maintaining both businesses would be difficult due to their distance. She is weighing her options and seeking additional information to determine the best path forward.

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    Entrep Mind Week 1 - 9

    Uploaded by

    peter banjao
    19 views35 pages
    The document discusses an entrepreneur named Rose who owns a successful restaurant but must now decide whether to close it to manage her late mother-in-law's palay trading business and properties which have been inherited by her husband. Rose is torn as her restaurant has seen increased profits but maintaining both businesses would be difficult due to their distance. She is weighing her options and seeking additional information to determine the best path forward.

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    Entrep Mind Week 1--9

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    The document discusses an entrepreneur named Rose who owns a successful restaurant but must now decide whether to close it to manage her late mother-in-law's palay trading business and properties which have been inherited by her husband. Rose is torn as her restaurant has seen increased profits but maintaining both businesses would be difficult due to their distance. She is weighing her options and seeking additional information to determine the best path forward.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    19 views35 pages

    Entrep Mind Week 1 - 9

    Uploaded by

    peter banjao
    The document discusses an entrepreneur named Rose who owns a successful restaurant but must now decide whether to close it to manage her late mother-in-law's palay trading business and properties which have been inherited by her husband. Rose is torn as her restaurant has seen increased profits but maintaining both businesses would be difficult due to their distance. She is weighing her options and seeking additional information to determine the best path forward.

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    © All Rights Reserved
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    You are on page 1of 35

    Entrepreneurial Mind

    What is Entrepreneurship?
    Entrepreneurship
    Entrepreneurship refers to the economic activity
    of a person who starts, manages and assumes
    the risk of a business enterprise.
    The entrepreneur identifies…
    an economic need
    considers offering a business solution

    proceeds to assemble the resources


    required
    assumes the risk of either succeeding or
    failing.
    The Entrepreneur’s Task
    Land Labor Capital

    Entrepreneur

    Production
    Process

    Finished Goods
    & Services
    Entrepreneurship and Innovation
    Innovation could be…
    • a new product;
    • a new process of production;

    • substitution of a cheaper material in an


    unaltered product.
    New Ventures and Long-Term
    Enterprise
    The transition from a new venture to a successful long-
    term enterprise consists of at least four major stages.

    1. the prestart-up stage


    2. the start-up stage
    3. the early growth stage
    4. the late growth stage
    Questions
    1. Why is entrepreneurship an important
    component of economic development?
    2. What is entrepreneurship? Who is an
    entrepreneur?
    3. What role does the entrepreneur play?
    4. Why is innovation an important
    entrepreneurship activity?
    Take Home Activity
    1. Identify a business in your area which
    became successful due to innovation. Write
    about the role played by innovation in its
    success.
    2. Prepare a list of five innovative products or
    services currently introduced in the market.
    On any given day, Rose Restaurant is full of
    customers. It is not surprising because of two
    factors: first, its location in the center of the
    commercial district of Santiago City, the gymnasium
    of its owner and manager, Ms. Rosemarie Ginez. She
    is more than happy because she was able to realize
    her dream of becoming successful in the food
    business. She now owns the building and the lot she
    used to rent. Served in its large air-conditioned
    function hall are native and Chinese delicacies. The
    place has ample parking space for 20 cars.
    -----page 1
    It was in the restaurant where she first met her
    future husband. He is a government employee
    and is assigned to work in a nearby town. Rose’s
    husband is a native of San Jose City and his
    widowed mother is operating a big palay trading
    firm. Apart from owning 10 cargo trucks his
    mother also owns one and a half hectares of
    commercial land in the city’s business district.
    -----page 2
    Just as Rose was considering opening a branch
    of her restaurant in Cauayan City, her mother-in-
    law died. Two weeks later, her husband
    informed her that being the heir, he needs to
    move quickly to San Jose City and manage his
    mother’s business and other properties.
    -----page 3
    Even if her husband operates her mother’s
    business, Rose could still continue managing her
    restaurant. Both of them however, are aware of
    the difficulty of maintaining the two businesses
    which are four hours away by car from each
    other. They will miss each other for days every
    week if they decide to keep both businesses. Her
    husband is indifferent, however, on whatever
    Rose’s decision will be.
    -----page 4
    Rose is now mulling over her family’s chances in
    succeeding in business if she decides on
    maintaining only the palay trading firm. Her
    decision-making is made more complicated
    when her assistant reported a 49% increase in
    last year’s profits of her restaurant.
    -----page 5
    Questions
    1. Should Rose stop operating her restaurant?
    2. If you were Rose what additional information
    would you need before making a decision?
    3. What pricing method should Rose use in the
    event that she will re-open her restaurant?

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