CAPSU HEADER Reading Analysis

BACHELOR OF SCIENCE IN HOSPITALITY MANAGEMENT
THC 329 ENTREPRENEURSHIP IN TOURISM AND HOSPITALITY INDUSTRY
ENTREPRENEURIAL TRAITS
UNIT 1:
Submitted by:
GROUP 4
BS HM Year and Section Student
Submitted to:
Romel V. Abaldonado MBA, HM
Instructor I
Accredited: Accrediting Agency of Chartered Colleges and Universities of the Philippines (AACCUP)
Member: Philippine Association of State Universities and Colleges (PASUC)
Agricultural Colleges Association of the Philippines (ACAP)
Unit 1:
Title: "The Prosperity of Our Future is in Our Hands"

Source:
1. https://www.investopedia.com/articles/personal-finance/080615/5-skills-every-
entrepreneur-needs.asp#:~:text=A%20great%20entrepreneur%20must
%20be,inherent%20business%20sense%20and%20skills.
2. https://medium.com/thrive-global/hard-work-is-the-only-shortcut-to-success-words-
of-wisdom-with-paul-koger-ae052598eb53
3.https://www.investopedia.com/articles/investing/092514/entrepreneur-vs-small-
business-owner-defined.asp
4.https://www.nibusinessinfo.co.uk/content/what-knowledge-
business#:~:text=Business%20knowledge%20is%20an%20important,in%20and
%20around%20your%20business.
Introduction:
Being an entrepreneur, what are the skills that entrepreneur should possessed
and practice.? Is there a shortcut to become a successful? Why knowledge is a key
to success.?
A great entrepreneur must be able to effectively communicate, sell, focus,
learn, and strategize. An ability to continuously learn is not just a key entrepreneurial
skill, but also a very valuable life skill. Growing a business requires a sound strategy
based on inherent business sense and skills. Such entrepreneurs tend to be
extremely passionate and obsessive, deriving their motivation from the unique nature
of their business idea. Innovative entrepreneurs also find new ways to market their
products by choosing product differentiation strategies that make their company
stand out from the crowd. There is no shortcuts in success, it is a step by step
process and according to Paul Koger "Hard Work Is The Only Shortcut To Success”.
Business knowledge is an important strategic asset. It is a sum of skills, experiences,
capabilities and insight which you collectively create and rely on in your business. It
affects all the activities in and around your business. Knowledge is power to
manipulate something,it cannot be taken from you and it can help you to develop
much better thing.
Content Summary:
An entrepreneur is an individual who starts and runs a business with limited

resources and planning, and is responsible for all the risks and rewards of their
business venture. The business idea usually encompasses a new product or service
rather than an existing business model.Such entrepreneurial ventures target high
returns with an equally high level of uncertainty. The entrepreneur is willing to risk
their financial security and career, spending time as well as capital on an uncertain
venture, arranging for the necessary capital, raw materials, manufacturing locations,
and skilled employees. Marketing, sales, and distribution are other important aspects
that are controlled by the entrepreneur.Even if some of these functions are
outsourced, the risk is still carried by the entrepreneur. This makes entrepreneurship
different from inheriting and/or running an existing business, working for a startup or
entrepreneur for a salary, being a commissioned agent, or selling already available
goods or services as a franchisee or dealership.
Learning Insight:
In my conclusion the only way to become a successful entrepreneur is
you need to be hardworking and be passionate of what you are doing,
be open minded, don't limit yourself in what is there instead be creative,
innovative and don't be afraid of what will be the outcome. Hardwork
plus knowledge is equals to success.
Characteristics of Innovation
Innovation is a way of creating something new that can improve our way of living and
make our life easy.
Implications of Innovation in the Academe, Business and Public

Academe:
Innovation in academics involves exploring in innovations in teaching, learning and
assessment, tools and resources for faculty and students, professional and
development through creative and innovative learning experiences.
Business:
Organizations worldwide are embracing the knowledge, skills and tools associated in
order to ensure that the above types of projects are completed on time, on budget
and to requirements. Project management is often viewed as a rigorous, paperwork
laden effort that is only applicable to large projects, but the reality is that it is a
process that can easily be scalable to any size project. Learning some basic project
management skills and tools will help everyone working in an organization create
momentum and support for projects, and enhance the chance of project success.
Community:
Community projects around the world play an important role in the development of
society, ranging from social enterprises in some of the poorest rural areas of the
globe, to projects designed to enhance quality of life for the more vulnerable
members of society in any country or region. ensures that the needs of all
stakeholders are considered and met to the best of the project manager’s ability,
creating outcomes that are advantageous to larger sectors of society
Recommendations:
The importance of project management in organizations can’t be overstated.That is

why it is recommended to study and implement good project management
When it’s done right, it helps every part of the business run more smoothly. It allows
your team to focus on the work that matters, free from the distractions caused by
tasks going off track or budgets spinning out of control. It empowers them to deliver
results that actually impact the business’s bottom line. And it enables your
employees to see how their work contributes to the organizations

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BACHELOR OF SCIENCE IN HOSPITALITY MANAGEMENT

THC 329 ENTREPRENEURSHIP IN TOURISM AND HOSPITALITY INDUSTRY

Title: "The Prosperity of Our Future is in Our Hands"

An entrepreneur is an individual who starts and runs a business with limited

Implications of Innovation in the Academe, Business and Public

The importance of project management in organizations can’t be overstated.That is

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