Chapter 2

Entrepreneurs Impact to Economy

Introduction

Every country tries to achieve maximum economic development. The economic

development of a country to a large extent depends on human resources. But human resources
alone will not produce economic development - there must be dynamic entrepreneurs. A country
may be rich in natural resources but if it lacks entrepreneurship, it may not be able to utilize the
resources and it may lag behind in economic development. This is true of many developing
countries have realized the importance of entrepreneurs and earnest attempts are now being made
to motivate industrial entrepreneurs.
Entrepreneurs are action-oriented, highly motivated individual who take risks to achieve
goals. An entrepreneur is one who looks for opportunities, identifies opportunities and seizes
opportunities mainly for economic gain (profit). Economic development of a country depends
primarily on its entrepreneurs. Entrepreneurs seizing opportunities set-up business undertakings
and industries, thereby bring economic transformation. They are therefore apply called agents of
change. By their actions, people have a better standard of living, get improved
products and comforts and the wide disparity in income levels is gradually reduced. Besides, an
economically advanced country will have more power and a confident self-image.

Specific Objectives

At the end of the lesson, the students should be able to:

1. Identify how entrepreneurs help the economy.
2. Determine on how to become an entrepreneur.
3. Identify the characteristics of successful entrepreneurs.
4. Evaluate the characteristics of successful entrepreneurs to determine which are the most
essential for success in business.

Duration
Chapter 2: Entrepreneurs Impact to Economy [6 Hours]

2.1 ENTREPRENEURS HELP ECONOMY

Nurturing entrepreneurship can have a

positive impact on an economy and a society in
several ways. For starters, entrepreneurs create
new business. They invent goods and services,
resulting in employment, and often create a ripple
effect, resulting in more and more development.
“Entrepreneurs add to the gross national income.”

Entrepreneurs create social change. They break https://dcid.sanford.duke.edu/importance-of-entrepreneurship/

traditions with unique inventions that reduce dependence
on existing methods and systems, sometimes rendering them obsolete. Smartphones and their
apps, for example, have revolutionized work and play across the globe.
Entrepreneurs invest in community projects and help charities and other non-profit
organizations, supporting causes beyond their own.

2.2 ENTREPRENEURIAL ECOSYSTEM

There is research that shows high levels of self-employment can stall economic
development. Entrepreneurship, if not properly regulated, can lead to unfair market practices and
corruption, and too many entrepreneurs can create income inequalities in society. Overall,
though, entrepreneurship is a critical driver of innovation and economic growth. Therefore,
fostering, entrepreneurship is an important part of economic growth strategies of many local and
national governments around the world.
To this end, governments commonly assist in the development of entrepreneurial
ecosystems, which may include entrepreneurs themselves, government-sponsored assistance
programs and venture capitalists. They may also include non-government organizations, such as
entrepreneurs’ associations, business incubators, and education programs.

2.3 BECOMING AN ENTREPRENEUR

There are five general steps that most, if not all, successful entrepreneurs have followed:
1. Ensure Financial Stability
This first step is not a strict requirement but its definitely recommended. While
entrepreneurs have built successful businesses while being less than financially flush
(think of Facebook founder Mark Zuckerberg as a college student), starting out with an
adequate cash supply and ensuring on going funding can only help an aspiring
entrepreneur, increasing his or her personal runway and give him more time to work or
building a successful business, rather than worrying about making quick money.

2. Build a Diverse Skill Set

Once a person has a strong finance, it is important to build a diverse set of skills and then
apply those skills in the real world. The beauty of step two is it can be done concurrently
with step one. Building a skill set can be achieved through learning and trying new tasks
in real world setting. For example, if an aspiring entrepreneur has a background in
finance, he can move into a sales role at his existing company to learn the soft skills
necessary to be successful.
 3. Consume Content Across Multiple Channels
As important as building a diverse skill set is, the need to consume a diverse array of
content is equally so. This content can be in the form of podcast, books, articles or
lectures. The important thing is that the content, no matter the channel, should be varied
in what it covers. An entrepreneurs should always familiarize himself with the world
around him so he can look at industries with a fresh perspective, giving him the ability to
build a business around a specific sector.

4. Identify a Problem to Solve

Through the consumption of content across the multiple channels, an aspiring
entrepreneur is able to identify various problems to solve. One business adage dictates
that a company’s product or service needs to solve a specific pain point either for another
business or for a consumer group. Through the identification of a problem, an aspiring
entrepreneur is able to build a business around solving that problem.

5. Solve that Problem

Successful startups solve a specific pain point for other companies or for the public. This
is known as “adding value within the problem.” Only through adding value to a specific
problem or pain point does an entrepreneur become successful.

2.4 THE INDIVIDUAL ENTREPRENEUR

Entrepreneurial Feelings
A. There is no “true entrepreneurial profile”. Entrepreneurs come from many educational
backgrounds, family situations and work experiences.
B. Locus of Control.
1. Entrepreneurs must be able to sustain the drive and energy required to form
something new and to manage the new enterprise.
2. While research results are inconsistent, internal control seems to be a characteristic of
entrepreneurs.
3. Internal beliefs appear to differentiate entrepreneurs from the general public, but not
from managers since both tend toward internality.
C. Feelings about Independence and need for Achievement.
1. The entrepreneur also has a need for independence, to do things in his or her own way
and time.
2. Another controversial characteristic of the entrepreneurs needs for achievement.
D. Risk Taking.
1. Risk taking seems a part of entrepreneurial process.
2. Although many studies have focus on risk taking in entrepreneurship, no conclusive
relationship has been established.

2.5 ENTREPRENEURIAL BACKGROUND AND CHARACTERISTICS

 Only a few background characteristics have differentiated the entrepreneur from
managers.

A. Childhood Family Environment.

1. The impact of birth order and social status has had conflicting research results.
2. Some studies have found that entrepreneurs tend to be firstborn; others find no
relationship.
3. There is strong evidence that entrepreneurs, both male and female, tend to have self-
employed or entrepreneurial parents.
A. Having a father or mother who is self-employed provide a strong inspiration in
the example of independence and flexibility of self-employment.
B. This feeling of independence is often further enforced by entrepreneurial mother.
4. The overall parental relationship may be the most important aspect of the childhood
environment in establishing the desirability of entrepreneurial activity.
5. Parents of entrepreneurs need to be supportive and encourage independence,
achievement and responsibility.
A. This supportive relationship appears to be most important for females.
B. Female entrepreneurs tend to grow up in middle to upper class environments,
where family are child centered, and are similar to their fathers in personality.

B. Education.
1. Education appears important in the upbringing of entrepreneur, in the level of
education obtained, and in playing a major role in coping with problems.
2. Although formal education is not necessary for starting a new business, it does
provide a good background.
3. The ability to communicate clearly in written and spoken work is also important.

C. Personal Values.
1. Studies have failed to indicate that entrepreneurs can be differentiated on personal
valued from managers, unsuccessful entrepreneurs, or the general public.
2. Studies have shown that the entrepreneur has a different set of attitudes about the
nature of management.
3. Five consensus characteristics have been found:
a. Superior product quality
b. Quality service to customers
c. Flexibility, or the ability to adapt to changes in the market
d. High caliber management
e. Honesty and ethics in business practices
4. Ethics and ethical behavior are also very important to entrepreneurs.

D. Age.
1. Entrepreneurial age, as contrasted to chronological age, is the age of the entrepreneur
reflected in the experience.
2. Entrepreneurial experience is one of the best predictors of success.
3. In chronological age, most entrepreneurs start their careers between ages 22 and 55.
4. There are milestones years every five years.
 5. Generally, male entrepreneurs start their first venture in their early 30s, while women
tend to do so in their middle 30s.

E. Work History.
1. Dissatisfaction with one’s job often motivates the launching of a new venture.
2. Previous technical and industry experience is also important once the decision to start
a business made.
3. Experience in the following areas is particularly important: financing, product or
service development, manufacturing, development of distribution channels, and
preparation of marketing plan.
4. As the venture become establish, managerial experience and skills become more
important.
5. Entrepreneurial experience is also important.

2.6 MOTIVATION

While motivations may vary, the

reason cited most often for becoming an
entrepreneur is independence not wanting to
work for anyone else.

A. Other motivating factors differ

between male and female
entrepreneurs.
1. Money is the second reason for
men’s starting a venture.
2. Job satisfaction, achievement,
opportunity, and money are the
rank order reasons for women.
https://www.invistaperforms.org/7-key-steps-to-motivate-and-inspire-your-team/

2.7 ROLE MODELS AND SUPPORT SYSTEMS

One of the most important factors influencing entrepreneurs in their career choice is the choice
of role models.
1. Role models can be parents, relatives or successful entrepreneurs in the community.
2. Role models can also serve in a supportive capacity as mentors during and after the new
venture is launched.
a. This support system is most crucial during the start-up phase.
b. It is important that entrepreneur establish connections and eventually networks
early in the venture formation process.

A. Moral Support Network.

 1. It is important for the entrepreneur to establish a moral support network of family
and friends.
2. Most entrepreneurs indicate that their spouses are their biggest supporters.
3. Friends can provide advice that is more honest than that received from others;
also, encouragement, understanding, and assistance.
4. Relatives can also be sources of moral support, particularly if they are also
entrepreneurs.

B. Professional Support Network.

1. The entrepreneurs also need advice and counsel which can be obtained from members
of a professional support network.
2. Most entrepreneurs indicate that they have mentors.
a. The mentor is coach, sounding board, and advocate.
b. The individual selected needs to be experts in the field.
c. An entrepreneur can initiate the “mentor finding process” by identifying and
contacting a number of experts.
3. Another source of advice is a network of business associates.
a. Self-employed individuals who have experience in starting a business are good
sources.
b. Clients and buyers are also important as they provide word-of-month advertising.
4. Suppliers are good components of the professional support network – they help
establish credibility with suppliers and provide good information on trends in the
industry.
5. Trade associations are good network additions, as they keep up with new
developments and can provide overall industry data.
6. Affiliations with individuals developed in hobbies, sporting events, civic
involvements, and school alumni groups are excellent sources of referrals, advice, and
information.
C. Each Entrepreneur needs to establish both a moral and professional support network to
share problems with and gain overall support.

2.8 MALE VERSUS FEMALE ENTREPRENEURS

A. Women are now starting new ventures at a higher rate than men.
1. Women are starting businesses in the U.S at twice the rate of all businesses.
2. Women now own about 6.2 million small businesses, employing 9.2 million people.
B. In some aspects female entrepreneurs possess very different motivations, business
skills, and occupational backgrounds.
1. Factors in the start-up process for male and female entrepreneurs are different
especially in such areas as support systems, sources of funds, and problems.
2. Men are motivated by the drive to control their own destinies.
3. Women tend to be more motivated by the need for achievement arising from job
frustration.
C. Departure points and reasons for starting the business are similar for both men and
women.
1. Both have generally had a strong interest and experience in the area of their venture.
 2. For men, the transition for a new venture is easier when the venture is an outgrowth
of a present job.
3. Women often leave a previous occupation with a high level of frustration and
enthusiasm for the new venture rather than experience.
D. Start-Up Financing.
1. Males often have investors, bank loans or personal loans in addition to personal funds
as sources of start-up capital.
2. Women usually rely solely on personal assets or savings.
3. Obtaining financing and lines of credit are major problems for women.
E. Occupations.
1. Both groups tend to have experience in the field of their ventures.
2. Men more often have experience in manufacturing, finance, or technical areas.
3. Most women usually have administrative experience, often in service-related fields.
F. Personality.
1. Both men and women tend to be energetic, goal oriented and independent.
2. Men are often more confident and less flexible and tolerant than women.
G. The background of male and female entrepreneurs tends to be similar.
1. Women are a little older when they embark on their careers.
2. Men often have studied in technical- or business-related areas, while women tend to
have liberal arts education.

H. Support Groups.
1. Men usually list outside advisors as most important supporters, with spouses being
second.
2. Women list their spouse’s first, close friends second, and business associates third.
3. Women usually rely more heavily on a variety of sources for support and information
than men.
I. Nature of Venture.
1. Women are more likely to start a business in a service-related area.
2. Men are more likely to enter manufacturing, construction, or high technology fields.

2.9 MINORITY ENTREPRENEURSHIP

A. The differences in behavior of various groups must be understood in the context of the
environment and economic opportunities available, making research difficult.
B. Most literature dealing with minority entrepreneurship has focused on the characteristics
of the group under study.
1. In terms of ownership, one study found:
a. The lowest participation rate is for African-Americans.
b. The second highest but fastest growing rate is for Hispanics.
c. The highest rate is for Asians.
2. Studies have also found differences in education, family background, and age when
starting the venture.
 C. Studies have found differences between ethnic groups in benefiting from community
resources.
D. Entrepreneurship has increase among Asians, African-Americans, Hispanics, and Native
Americans.
1. Hispanics owned businesses make up 5.8% of businesses.
2. Asian American owners make up 4.4%.
3. African American own 4.0% and American Indians 1%.
4. This 15% minority share is up from 6.8% in 1982.

2.10 ENTREPRENEURS VERSUS INVENTORS

A. An inventor, an individual who creates something for the first time, is a highly driven
individual motivated by his or her own work and personal ideas.
1. An Inventor:
a. Tends to be well educated.
b. Has family, educational, and occupational experiences that contribute to free
thinking.
c. Is a problem solver.
d. Has a high level of confidence.
e. Is willing to take risk
f. Has the ability to tolerate ambiguity and uncertainty.
2. A typical inventor places a high premium on being an achiever, and is not likely to
view monetary benefits as measure of success.
B. An inventor differs from entrepreneur.
1. An entrepreneur falls in love with a new venture, while the inventor falls in love with
the inventions.
2. The development of a new venture based on an inventors work often requires the
expertise of an entrepreneur to commercialize it.
 Activity Sheet
THE ENTREPRENEURIAL MIND
ACTIVITY #2
NAME: SCORE:
COURSE/YEAR/SECTION: DATE:

TEST 1| IDENTIFICATION: Supply what is being asked and write your answer on the space
provided.

____________________1. Successful startups solve specific pain point for other

companies or for the public. This is known as adding value within the problem.
____________________2. One business adage dictates that a company’s product or
service needs to solve a specific pain point either for another business or for a consumer
group.
____________________3. In what age the entrepreneurs start their career?
____________________4. The reason cited most often for becoming an entrepreneur is?
____________________5. Most entrepreneur indicate that their
are their biggest supporters.
____________________6. This first step to be a successful entrepreneur is not a strict
requirement but definitely recommended.
___________________ 7. An individual who creates something for the first time, a
highly driven individual motivated by his or her own work and personal ideas.
____________________8. A critical driver of innovation and economic growth.
____________________9. It appears to be important in the upbringing of the
entrepreneur.
___________________ 10. One of the most important factors influencing entrepreneurs
in their career choice is the choice of

TEST 2| ENUMERATION

1. Give ten (10) key factors how entrepreneurs help economies.

1._____________________________________________________________
2. _____________________________________________________________
3. _____________________________________________________________
4. _____________________________________________________________
5. _____________________________________________________________
6. _____________________________________________________________
7._____________________________________________________________
8. _____________________________________________________________
9. _____________________________________________________________
 10. ____________________________________________________________

TEST 3| QUESTION FOR DISCUSSION: Explain briefly your answer.

1. How can entrepreneur ensure financial stability?

____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
________________________________________________________________

2. Does background and characteristics important in becoming an entrepreneur?

_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
____________________________________

3. Does formal education is necessary to become a successful entrepreneur?

_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
____________________________________
Assessment
Each question will be graded based on these five (5) points rubrics.

LEVEL DESCRIPTION

Well written and very organized.

Excellent grammar mechanics.
5 - Outstanding Clear and concise statements.
Excellent effort and presentation with detail.
Demonstrates a thorough understanding of the topic.

Writes fairly clear.

Good grammar mechanics.
4 - Good
Good presentation and organization.
Sufficient effort and detail.

Minimal effort.
Minimal grammar mechanics.
3 - Fair
Fair presentation.
Few supporting details

Somewhat unclear.
Shows little effort.
2 - Poor Poor grammar mechanics.
Confusing and choppy, incomplete sentences.
No organization of thoughts.

Very poor grammar mechanics.

Very unclear.
1 - Very Poor
Does not address topic.
Limited attempt.
 The Entrepreneurial Mind
 
Chapter 3

The Student as Entrepreneur:

A Self-Evaluation
Chapter 3
The Student as Entrepreneur: A Self-Evaluation

Introduction

When you are trying to choose a career, there are two things you should do that will help you
make better, and well-informed, decision. First, you have to learn about yourself. Then, you have
to explore careers that might be a good fit based on what you have learned. If you go online, you
will be able to find a wealth of information about any career that comes to mind, but learning
about yourself will take a lot more effort. You will have to do what is known as a self-
assessment.

What is a self-assessment? Is it a test of some sort? A self-assessment is not a test. It does not
have the desired outcome, for example, right or wrong answers that would demonstrate the
mastery of a subject. It is a way to learn about yourself by gathering data that includes
information about your work-related values, interests, personality type, and aptitudes. Your goal
will be to find occupations that are suitable based on the results. Of course, there are other
factors that you will have to weigh when making a final decision, but that will happen during the
next step of the process career exploration.

Specific Objectives

At the end of the lesson, the students should be able to:

1. Use an evaluation tool to assess their own personalities in relationship to the
characteristics possessed by many entrepreneurs.
2. Determine whether they have the personal characteristics necessary for success as an
entrepreneur.
3. Draw conclusions as to what actions they will need to take in order to develop the
characteristics of a successful entrepreneur.

Duration
Chapter 3: The Student as Entrepreneur: A Self-Evaluation [5 Hours]

3.1 WHY YOU SHOULD DO A FORMAL SELF-ASSESSMENT?

How much do you know about

yourself? If you are like most people, you
probably have to give a lot of thought to this
question before you can answer it. You might
know what your hobbies are and that you are
(or aren’t) a people person. You probably
couldn’t explain, with ease, what work
related values are important to you and, while
you may know some things that you are good at, you may not have a complete list of all your
aptitudes.
http://tiwi.eun.org/self-assessment-tool/

Even if you could provide a rundown of every one of your characteristics, there’s a good
chance you don’t know how to use that information to help you find a career that is good fit.
Utilizing a variety of self-assessment tools will help you put together all the pieces of the puzzle.

3.2 ANATOMY OF SELF-ASSESSMENT

A self-assessment, to be effective, must take into account individuals work-related

values, interests, personality type, and aptitudes. All of these characteristics make up who you
are, so ignoring any of them won’t give you an accurate answer.

Let’s take a look at each one:

 Work Related Values: Your values

are the ideas and beliefs that are
important to you. Your work-related
values can include autonomy,
prestige, security, interpersonal
relationships, helping others, flexible
work schedule, outdoor work, leisure
time, and high salary. If you take
these things into account when
choosing a career, you have a better
chance of achieving job satisfaction.
https://thingscareerrelated.com/2018/06/04/values-
in-work-are-important-what-are-your-work-values/

 Interests: Your likes and dislikes regarding various activities make up your interests.
Strong and other psychologist discovered many years ago that people who share similar
interests also the same type of work. Based on this theory he developed what is now
called the Strong Interest Inventory, an assessment many career development experts use
to assist their clients with career planning. Examples of interests include reading,
running, golfing, and knitting.

 Personality Type: Your personality type

is made up of your social traits,
motivational drives, needs and attitudes.
Carl Jung, a Swiss psychiatrist, developed
a theory of personality that is widely used
in career planning and is the basis for the
Myers-Briggs Type Indicator (MBTI), a
highly popular personality inventory.
Knowing what your type is can help you
 choose an occupation because particular personality types are better suited to certain
careers, as well as work environments, than are others.
https://www.talentinsights.com/blog/16-practical-
descriptions-of-myers-briggs-personalities/

 Aptitude: Aptitude refers to an individual’s natural talent, learned the ability, or capacity
to acquire a skill. Examples include math, science, visual art, music verbal or written
communication, reading comprehension, logic and reasoning, manual dexterity,
mechanics, or spatial relations. You may have multiple aptitudes. It is important to keep
in mind that having an aptitude for something, doesn’t mean you will necessarily like
doing it. Or you may enjoy doing it, but not for work.

3.3 A FEW QUESTIONS TO ASK YOURSELF:

1. Do I have the personality,

temperament, and mindset of
taking on the world on my own
terms?
2. Do I have the required ambiance
and resources to devote all my
time to my venture?
3. Do I have an exit plan ready
with a clearly defined timeline
in case my venture does not
work?
4. Do I have concrete plan for next
“x” number of months or will I
face challenges midway due to
https://sellingenergy.com/faqs/ family, financial or other
commitments? Do I have a mitigation plan for those challenges?
5. Do I have the required network to seek help and advice as needed?
6. Have I identified and build bridges with experienced mentors to learn from their
expertise?
7. Have I prepared the rough draft of a complete risk assessment, including dependencies on
external factors?
8. Have I realistically assessed the potential of my offering and how it will figure in the
existing market?
9. If my offering is going to replace an existing product in the market, how will my
competitors react?
10. To keep my offering secure, will it make sense to get a patent? Do I have the capacity to
wait that long?
11. Have I identified my target customer base for the initial phase? Do I have scalability
plans ready for larger markets?
12. Have I identified sales and distribution channels?
3.4 QUESTONS THAT DELVE INTO EXTERNAL FACTORS:

1. Does my entrepreneurial venture meet local regulations and laws? If not feasible locally,
can I and should I relocate to another region?
2. How long does it take to get the necessary license or permissions from concerned
authorities? Can I survive that long?

https://www.roberthalf.com/blog/how-to-interview-candidates/job-interview-questions-4-types-to-consider

3. Do I have a plan about getting the necessary resources and skilled employees, and have I
made cost considerations for the same?
4. What are the tentative timelines for bringing the first prototype to market or for services
to be operational?
5. Who are my primary customers?
6. Who are the funding sources I may need to approach to make this big? Is my venture
good enough to convince potential stakeholders?
7. What technical infrastructure do I need?
8. Once the business is established, will I have sufficient funds to get resources and take it
to the next level? Will other big firms copy my model and kill my operation?
Activity Sheet
THE ENTREPRENEURIAL MIND
ACTIVITY #3
NAME: SCORE:
COURSE/YEAR/SECTION: DATE:

TEST 1| Directions: How Entrepreneurial are YOU? This entrepreneurial self-evaluation

activity will help you gain a greater self-understanding as you determine if you have the traits
found in successful entrepreneurs. Read each question and circle the letter of the sentence that
describes you the best.

1. Are you self-motivated?

a. If someone gets me started on something. I can keep going and get the job done.
b. I like to do things my own way and come up with my own ideas about how to
accomplish things.
c. I prefer not to overdo it. I really don’t like putting myself out unless it is
necessary.

2. Are you a leader?

a. I usually let people lead themselves.
b. I can get people to do things but it’s pretty difficult.
c. Most people go along with my ideas without too much difficulty.

3. How organized are you?

a. I like to make plans before I start something and I stick to my plan until its done.
b. I just take things as they come. I don’t like to stifle my possibilities with too
many plans.
c. If things don’t go according to my plan, I take this as a sign…. It wasn’t meant to
be.

4. How do you feel about people?

a. Most people drive me crazy.
 b. I have enough friends I make new ones only when necessary.
c. I really enjoy people and get along with them very well.

5. Are you a good worker?

a. I can work hard and push through until the goal is accomplish. I don’t mind
working hard.
b. I will work hard if I know it will pay off right away.
c. I prefer not to overdo it. I am very creative about coming up with ways to avoid
hard work.

6. Can you make decisions?

a. I want to make up my mind. I like to check things out with my friends first.
b. I like to make may own decisions good or bad. I am willing to put up with the
consequences.
c. I would rather have others make the decisions. What if I make a mistake?

7. Can people trust you?

a. I try to avoid hurting people’s feelings and say what I think they want to hear.
b. I tend to say things in a straightforward way, even if other people may not agree
with me.
c. I really don’t care if people trust me. I do and say what I want.

8. Can you “stick” with something?

a. I usually finish what I start.
b. If something goes wrong or I find it too difficult. I don’t fight it.
c. If I set a goal and make up my mind to do something, nothing stops me.

9. Do you take responsibility?

a. I like to take charge and see things through.
b. I’ll take over if I have to but I prefer to let someone else be responsible.
c. There’s always a bossy person around. Let them do it.
 10. Are records important to you?
a. I understand the importance of records but they stifle my creativity.
b. Records are critical to help me measure my success.
c. I keep records in my head and I can figure it out as I go.

TEST 2| ENUMERATION

4. Based on the quiz, list ten entrepreneurial traits on the chart below in which you are very
strong and ten traits where require some improvement.

Traits in which you are strong Traits in which you need improvement
1. 1.
2. 2.
3. 3.
4. 4.
5. 5.
6. 6.
7. 7.
8. 8.
9. 9.
10. 10.

TEST 3| QUESTION FOR DISCUSSION: Explain briefly your answer.

1. What is the most important attribute a person must have to be a successful entrepreneur?
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
________________________________________________________________

2. What is your best personality trait that will help you in becoming an entrepreneur?
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
____________________________________
Assessment
Each question will be graded based on these five (5) points rubrics.

LEVEL DESCRIPTION

Well written and very organized.

Excellent grammar mechanics.
5 - Outstanding Clear and concise statements.
Excellent effort and presentation with detail.
Demonstrates a thorough understanding of the topic.

Writes fairly clear.

Good grammar mechanics.
4 - Good
Good presentation and organization.
Sufficient effort and detail.

Minimal effort.
Minimal grammar mechanics.
3 - Fair
Fair presentation.
Few supporting details

Somewhat unclear.
Shows little effort.
2 - Poor Poor grammar mechanics.
Confusing and choppy, incomplete sentences.
No organization of thoughts.

Very poor grammar mechanics.

Very unclear.
1 - Very Poor
Does not address topic.
Limited attempt.