Group Name – BILL GATES GROUP
Group Leader – ETHEL LEE CHENEY
Ass’t Leader – PIA LOVITOS
Present during meeting Dec 02, 2021
● Lovitos
● Guillen
● Cheney
● Catambacan
● Dirampatun
Absent Dec 2, 2021
● Imam
Present during presentation Dec 07, 2021
● Lovitos
● Guillen
● Cheney
● Catambacan
● Dirampatun
Absent
● Imam Reason: Slow (almost no) Internet Connection
No contribution at all – Asnia Imam
Chapter 1: Entrepreneurship A Global Social Movement
Checkpoints:
1. Describe different types of entrepreneurial businesses.
– Mainly there are four types of entrepreneurial businesses. Manufacturing,
Wholesaling, Retailing, and Service. Manufacturing includes acquiring
Industrial machinery and equipment, Chemicals, Printing and Publishing
etc. It is a process of transforming raw materials into salable products.
Wholesaling includes apparel, paper products, groceries and the like etc. It
is a process of buying large amounts of goods and selling them at your own
price. Retailing includes furniture, shoes, sporting goods, bicycle stores etc.
It is a process of selling merchandise or services to customers. Lastly,
Service. This includes babysitting, bookkeeping, consulting, lawn care,
travel agencies. This is the process of selling a service, instead of a product.
2. Describe how one of the entrepreneurs discussed above recognized an
opportunity to develop a successful business.
Group Name – BILL GATES GROUP
Group Leader – ETHEL LEE CHENEY
Ass’t Leader – PIA LOVITOS
– Starbucks Coffee, now largely known in many countries, saw opportunities
to sell their own brand of Espresso and other coffee products. They saw a
market where people would buy their goods and services and became one
of US successful companies.
–
3. What factors contribute in helping a business to succeed?
-A successful business requires a firm understanding on how to run a
business and perseverance to succeed.
4. Name three important characteristics of entrepreneurs
– Being a successful entrepreneur requires dedication, perseverance, and
adaptability.
5. Why is it important for entrepreneurs to be good team members
– Having good team members will make a strong foundation on business
itself. Teamwork plays a huge role in having a smooth system or ideas on
handling the services and the product.
