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Lesson Assessment 4

This document summarizes the key differences between entrepreneurs and owners of ordinary small businesses in three areas: 1) Motivation - entrepreneurs are passionate about their ideas while ordinary owners are profit-driven, 2) Risk perception - entrepreneurs see risk as necessary while ordinary owners try to avoid it, and 3) Growth vision - entrepreneurs plan long-term growth while ordinary owners focus on short-term profits. Students are then instructed to interview a local small business owner, discuss reactions to environmental changes, and share personal sales experiences.

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Carmel Angela Lavador
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277 views

Lesson Assessment 4

This document summarizes the key differences between entrepreneurs and owners of ordinary small businesses in three areas: 1) Motivation - entrepreneurs are passionate about their ideas while ordinary owners are profit-driven, 2) Risk perception - entrepreneurs see risk as necessary while ordinary owners try to avoid it, and 3) Growth vision - entrepreneurs plan long-term growth while ordinary owners focus on short-term profits. Students are then instructed to interview a local small business owner, discuss reactions to environmental changes, and share personal sales experiences.

Uploaded by

Carmel Angela Lavador
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Lesson Assessment 4

I. Write True if the statement is correct. Otherwise, write False and state your
reason briefly.
False 1. The owner of an ordinary small business anticipates possible
changes in the external environment.
It is the entrepreneurs that anticipates possible changes in the external
environment.

False 2. Competition increases the creativity and innovative characteristics of the


owner of an ordinary small business.
Ordinary small business owners find working in a competitive climate to
be highly uncomfortable, and they aggressively discourage competition in the
business world.
True 3. The perspective for development and growth is usually
manifested in the short-and-long term plans of entrepreneurs.

False 4. A person who is an entrepreneur is also a businessperson.


An entrepreneur brings out innovative and risk-taking ideas that
businesspersons do not have.
True 5. In most instances, owners of ordinary small businesses are
hesitant to look for external sources of funds.
True 6. An entrepreneur and an owner of an ordinary small business
are totally different from each other.
False_7. The primary motive of an owner of an ordinary small business
in opening the business is the business opportunity provided by the
environment.
The primary motive of an owner of an ordinary small business in opening
the business is profit.
True 8. An entrepreneur finds alternative ways to avoid business risks.
False 9. The owner of an ordinary small business considers business
risks inherent in the business venture.
The entrepreneur is a person that understands that business risks is
inevitable and is always there when starting a business.
True 10. Changes in the external environment present business
opportunities based on the perception of an entrepreneur.

II. Discussion

Differentiate an entrepreneur from an owner of an ordinary small business in the


following areas:
1. Motive in opening a business

Entrepreneurs are motivated by passion when starting a business. They understand


risks and is willing to take them. However, ordinary small business owners on the
other hand are more profit-driven and started business as livelihood.

2. Perception of risk in the business


An entrepreneur views risk as a necessary component of doing business. As a result,
he or she always anticipates it, deals with it, and looks for ways to reduce it. An
ordinary small business owner, on the other hand, views business risk negatively
and steers clear of it.

3. Vision for development and growth

The course of an entrepreneur's business is typically laid out in terms of short-,


medium-, and long-term plans of action. The owner of a typical small business is not
overly concerned with the expansion and growth of the company as long as he or
she is happy with the profits.

III. Class Entrepreneurial Activities

Form groups of six members each with members preferably coming from the same
community. Do the following tasks:
1. Choose one small business in your neighborhood. Conduct a guided interview of
its owner. Elicit the primary reason why he or she opened the business.
Determine if he or she manages the business as an entrepreneur or as an owner of
an ordinary small business.
2. Discuss among yourselves how you react to changes in the environment. For
example, there is a change in your class schedule or a change in the price of your
favorite food. Report on your common reaction to changes in the environment.
3. Share to the class any personal experiences in selling that you may have.

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