Entrepreneurial Mind

Ma’am Merle Lascano

Concepcion, Stephanie Kyle S.

BM303

1. Based on the discussion, what is the modern definition of

entrepreneurship?
---- It is about transforming the world by solving big problems. Like bringing about social
change or creating an innovative product that challenges on how we live our lives on a
daily basis. A number of reasons, from promoting social change to driving
innovation.

2. Give one (1) long-term effect of the entrepreneurs’ contributions to the

economy.

---- One long-term effect of the Entrepreneur’s contribution to our economy is the
economic growth. For example, the water supply in a low valley they are having a
problem to their water supplies. This will impact their business, productivity, and
income. Imagine an innovative and automatic pump that can fill people's water
containers automatically. This type of innovation ensures people are able to
focus on their jobs without worrying about a basic necessity like water. More time
to devote to work equals to economic growth.

3. Entrepreneurship spectrums have similarities with each other. In your

opinion, what are the major differences that made entrepreneurs choose
their respective spectrums?
----In my own opinion, entrepreneurs choose their line of entrepreneurship spectrum in a
way they think it is more profitable, easy to manage, in demand in the target community,
accessibility to the resources (capital, raw materials, etc.) and target business stability
and sustainability.
 4. Based on the outcomes of the Industrial Age, is it vital to implement
sustainable development? Why or why not?

----Yes, to avoid overexploitation of natural resources. So future generations will also have
their sources that they need to improve the quality of life. Imagine that our present
generations use all natural resources for the improvement of our lives, what do you
think will happen to future generations? What will be their options to improve their
quality of their daily living? By implementing sustainable development, it can ensure that
future generations will have the enough resources for the development of products that
can improve the quality of their lives.

5. Would it make a difference in the environment if only small businesses

were to implement sustainable development? Why or why not?
----I believe, yes it can make a difference.

----It is like a snowballing effect wherein small change can have a big impact, and this
big impact can even have a bigger impact. Or sometimes we can view it as a grain of
rice that when it grouped together it can be a meal for a family.

----But on the other hand, if this small business can make a difference in our
environment, how much more change can it make if even bigger business are
implementing sustainable development.

6. Companies are now urged to implement the triple bottom line into their
culture. What are other indicators that could be used to evaluate a
company’s sustainability?
Below are other measurement we can be used to measure company’s sustainability:

 Sustainability reporting is not simply a report generation from collected data; it

is a tool for internalizing and strengthening the commitment of an entity to
 sustainable development in a way that can be communicated to internal and
external stakeholders
 The Environmental Performance Index (EPI) is a metric that quantifies and
numerically labels the environmental performance of policies of a state. The ESI
was developed for evaluating environmental sustainability relative to the path of
other countries.
7.
 8. generations will have the enough resources for the development of products that
canimprove the quality of their lives.
9.

boosting our Economic growth by introducing innovative technologies, products, and services.
Because of this competition, entrepreneurs challenges increased and it becomes more
competitive.

Their innovations have improve standards of living, they also create jobs and
contribute to a growing economy.