Entrepreneurship in the Philippines
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Questions and Answers

What is a key characteristic of a successful 'Go Negosyo' community?

  • Access to international markets
  • Ability to attract foreign investors
  • Ability to produce a continuous stream of start-up ventures (correct)
  • Participation in government programs

    • What role do enterprise networks play in college education?

  • Offering exclusive internships
  • Providing scholarships to students
  • Enhancing the curriculum and training teachers (correct)
  • Sponsoring student competitions

    • How does entrepreneurship contribute to society according to the discussed paradigm?

  • By inspiring individuals to stay within their comfort zones
  • By promoting consumerism and materialism
  • By creating jobs and empowering people (correct)
  • By decreasing competition in the market

    • What challenge do countries like the Philippines face regarding entrepreneurship?

    <p>Accelerating political and economic leadership for social reforms (C)</p> Signup and view all the answers

    What aspect of curriculum development is essential for building an entrepreneurial mindset in students?

    <p>Involving real entrepreneurs in the teaching process (A)</p> Signup and view all the answers

    What is the role of entrepreneurship in the economy of the Philippines?

    <p>It helps empower the poor and enhance overall productivity. (C)</p> Signup and view all the answers

    What percentage of business enterprises in the Philippines are classified as micro, small, and medium-sized enterprises (MSMEs)?

    <p>99.6% (D)</p> Signup and view all the answers

    Which of the following is one of the challenges faced by enterprise development in the Philippines?

    <p>Access to financing and skill development. (D)</p> Signup and view all the answers

    According to the Philippine Development Plan, what is a goal associated with encouraging entrepreneurship?

    <p>Economic development and job creation. (C)</p> Signup and view all the answers

    What does enterprise development contribute to, aside from producing marketable products?

    <p>Innovation and market access. (D)</p> Signup and view all the answers

    What is highlighted in the 1987 Philippine Constitution regarding private enterprises?

    <p>They support equitable distribution of income and wealth. (A)</p> Signup and view all the answers

    Which of the following is NOT a measure pursued to strengthen the competitiveness of the Philippines?

    <p>Augmenting corruption. (A)</p> Signup and view all the answers

    Which pillar identified by the United Nations Development Programme is essential for entrepreneurship development?

    <p>Access to financing. (B)</p> Signup and view all the answers

    What is identified as a key driver of SME international competitiveness?

    <p>Institutionalization of networks/social ties (C)</p> Signup and view all the answers

    What type of communities does the Philippine Center for Entrepreneurship aim to create?

    <p>Go Negosyo communities (A)</p> Signup and view all the answers

    Which sectors are involved in the seamless collaboration within entrepreneur communities?

    <p>Academic, business, and government (B)</p> Signup and view all the answers

    What aspect of entrepreneurship is emphasized by enterprise networks according to the OECD study?

    <p>Networking and supply chain links (B)</p> Signup and view all the answers

    Which of the following is a primary role of chambers of commerce in the context of entrepreneurship?

    <p>To provide advocacy and support for entrepreneurs (C)</p> Signup and view all the answers

    What is one benefit of strong networks for small and medium enterprises (SMEs)?

    <p>Easier access to international markets (D)</p> Signup and view all the answers

    What is crucial for extending internationalization processes for SMEs?

    <p>Network/social ties and supply chain links (B)</p> Signup and view all the answers

    How do entrepreneur communities enhance the experience of new business owners?

    <p>Through constant mentoring and networking (A)</p> Signup and view all the answers

    Flashcards

    Go Negosyo Communities

    Communities that consistently produce new businesses.

    Enterprise Networks role

    Help improve business education, by providing resources and training to teachers and students.

    Entrepreneurship as a mindset

    Entrepreneurship is more than just business, it's a way of thinking.

    Entrepreneurship's economic impact

    Entrepreneurship creates jobs and opportunities for people.

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    Challenges for the Philippines

    Need to improve political and economic leadership to promote social reforms through entrepreneurship.

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    Entrepreneurship in the Philippines

    Entrepreneurship is a key focus in the Philippines, aimed at empowering the poor, boosting production, and driving innovation.

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    Philippine Constitution's Role

    The 1987 Philippine Constitution acknowledges entrepreneurship as a driving force for economic growth, supporting equitable income distribution, and improving the quality of life.

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    Philippine Development Plan (PDP)

    The PDP further emphasizes entrepreneurship through trade and investment to achieve economic development and job creation.

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    MSME's Role

    Micro, Small, and Medium-sized Enterprises (MSMEs) constitute 99.6% of the business enterprises in the Philippines, contributing significantly to job growth.

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    Enterprise Development and Competitiveness

    Enterprise development in the Philippines focuses not only on producing globally accepted products but also on empowering businesses through support for production, innovation, and market access.

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    Challenges to Enterprise Development

    Significant challenges exist within the Philippine entrepreneurial landscape, including areas such as the rule of law, infrastructure, access to financing, and skill development.

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    UN Development Programme's Pillars

    The United Nations Development Programme identifies key pillars for successful entrepreneurship, including the Rule of Law, Physical and Social Infrastructure, Domestic and Global Macro Environment, a Level Playing Field, Access to Financing, and Access to Skill Development and Knowledge.

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    Key Challenges (Rule of Law)

    The Philippines faces challenges in maintaining and enforcing the rule of law, which can hinder business confidence and investment.

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    Micro-entrepreneurs

    Small business owners who are focused on survival and not necessarily growth or innovation.

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    Opportunity-driven entrepreneurs

    Business owners who actively seek out and create new opportunities for growth and expansion.

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    Enterprise Networks

    Organizations like Chambers of Commerce and industry associations that support and connect entrepreneurs.

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    Role of Enterprise Networks

    Enterprise networks help micro-entrepreneurs transition into opportunity-driven businesses by providing resources and connections.

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    SME Internationalization

    The process of a small or medium-sized enterprise expanding its operations into foreign markets.

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    Triangular Collaboration

    A partnership between academia, business, and government to promote entrepreneurship.

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    Viable Policy Infrastructure

    Government policies and regulations that support and encourage entrepreneurship.

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    Study Notes

    Entrepreneurship in the Philippines

    • Entrepreneurship is seen as crucial for poverty reduction, improved production, and innovation in the Philippines.
    • The 1987 Philippine Constitution recognizes entrepreneurship as a key driver of economic growth.
    • Private enterprises are vital for equitable income distribution, sustaining goods & service production, and boosting productivity.

    Objectives

    • Identify various business models.
    • Understand the role of entrepreneurship in the Philippine economy.
    • Understand the rules governing businesses in the Philippines.

    Enterprise and Competitiveness

    • The Philippines Development Plan (PDP) emphasizes trade, investment, and job creation for economic prosperity.
    • Measures focusing on macro-economic stability, employment, agribusiness, power sector reform, infrastructure, competition, science and technology, and anti-corruption are pursued.
    • Competitiveness is a major focus to enhance the country's function globally.

    Rule of Law

    • The rule of law encompasses regulatory structures, policy environment, and enforcement of regulations—crucial for assessing Philippine competitiveness.
    • The 2013 World Bank Doing Business Survey ranked the Philippines 138th out of 185 economies regarding ease of doing business.
    • Procedures for business start-ups—incorporation, and registration—are lengthy and complex in the Philippines, compared to other Southeast Asian nations.

    Access to Credit

    • Access to finance is a significant challenge for entrepreneurs, especially MSMEs (micro, small, and medium-sized enterprises).
    • Obtaining funding frequently involves extensive documentation and collateral requirements—difficult for many MSMEs to meet.
    • An enterprise survey (U-ACT, 2008) revealed that access to capital/financing was a major problem, with nearly 72% of respondents experiencing difficulty obtaining capital/investment funds.

    Internationalization and Global Production Networks

    • Globalization and international market integration have transformed entrepreneurship, requiring adaptation.
    • Entrepreneurs need to be capable of seeing opportunities, capitalizing on ideas, organizing resources (capital, knowledge, partners, and management skills) to function and succeed internationally.
    • Key areas affecting global competitiveness (defined by WEF) include infrastructure development, labor market efficiency, innovation, readiness, intellectual property protection, and spending on research and development.

    Role of Enterprise Networks

    • Collaboration among academic, business, and government sectors is crucial in fostering entrepreneurship.
    • Enterprise networks (e.g., the Philippine Center for Entrepreneurship [PCE]) play a vital role in developing the entrepreneurial ecosystem.
    • These networks aim to create "Go Negosyo communities"—supporting businesses through mentorship, networking, and knowledge sharing.
    • PCE's concrete goal is to foster the formation of such communities to help entrepreneurs navigate globalization's challenges.

    Nurturing the Entrepreneurship Paradigm

    • Entrepreneurship encompasses more than simply economic activity.
    • It represents a way of thinking that can empower individuals, create jobs, and enhance quality of life.
    • This approach is important to drive economic and social progress.

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    Description

    This quiz explores the significance of entrepreneurship in the Philippines, focusing on its role in economic growth and poverty reduction. It covers various business models, the country's development plans, and the regulatory environment impacting enterprises. Test your knowledge on how entrepreneurship drives the economy and enhances competitiveness.

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