WPS Presentation

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Entrepreneurship in the Philippines

* PHILIPPINES recently got 7.1% economic growth, its fastest quarter in three years and the strongest in Asia. *According to recent studies, It is true that this rising star of the Pacific has seen an uptick of entrepreneurialism, considerable challenges await Filipinos who try to launch their own enterprise. * In 2014, Global Entrepreneurship Monitor (GEM) delivered a report on the state of entrepreneurship in the Philippines 1) the country’s social values toward entrepreneurship; 2) individuals’ psychology, demographic characteristics and motivations. * ASEAN (Association of Southeast Asian Nations) countries, Filipinos reported the strongest entrepreneurial intentions and perceived capabilities and opportunities.

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* Ryan Evangelista of the Center for International Private Enterprise (CIPE) put some numbers to these hopeful signs: “In 2011, there were approximately 830,000 business enterprises in the Philippines. 99.6 percent are classified as micro, small, and medium sized enterprises (MSME) which are responsible for 38 percent of total job growth.” *The GEM report notes a main weakness of the entrepreneurial ecosystem : “Poor provision of training aimed at expanding and sustaining businesses.” * According to this, TRAINING IS LACKING. *Key facts support this claim. -The rate of the businesses that survive is atleast 3.5 yrs in the PH is low -PH has the highest discontinuance rate -Less than 1% of the PH entrepreneurs “Aspire to create 20 or more jobs within the next 5 years”

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*The 2016 Doing Business Report states that PH ranks as 165 out of 189 poor countries to start a business. *This report affects the Filipinos who wanted to start a small business but this is not only the challenge in the entrepreneurship in the PH. There are also laws, infrastructure, overall view of the business environment and global business environment. In which Ph also lacks a level of playing field, access to financing and skill development and skill.

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Entrepreneurial Education

*T he biggest challenge the country faces in promoting entrepreneurship is to develop the capability and skills of Filipinos in starting and growing businesses through formal and informal training. *Education develops entrepreneurs’ abilities to succeed in business. T he population as highly literate, and most entrepreneurs finished secondary or college education. *Education for the most part remains focused on training students to be employees. Young Filipinos may be enthused to give entrepreneurship a try, they may even have tertiary education. *Lacking practice at entrepreneurial know-how, problem-solving, or imagination, too many fledgling entrepreneurs watch their enterprises either fail or truncate.

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The Case Method

*According to Professor John Branch , one of the instructors who leads WDI workshops on case study pedagogy, “the case method is really the next best thing to learning on the job.” When skillfully taught, cases “place students in the driver’s seat . *Another report confirms Branch’s insight: effective entrepreneurship education will immerse youth in the character and demands of entrepreneurship. *O ne of the foremost goals of the USAID-funded Science, Technology, Research and Innovation for Development (STRIDE) project. * William Davidson Institute at the University of Michigan (WDI) has supported four Case Writing Workshops, with a fifth training to be held spring 2017. authors work with WDI Case Publishing to publish their cases as part of the Philippine Case Collection, *Case Publishing has published 64 Philippines-based cases This collection offers a repository of connections between academy and industry and is multidisciplinary, with entrepreneurship factoring into many of the cases.

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WDI’s Philippine Case Samples *To explore local cases’ potential for entrepreneurial education, let us spotlight four cases from the collection. These cases represent a cross-section of industries and scenarios a young entrepreneur might encounter in the Philippine ecosystem.

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1 ) ZipMatch.com . Philippines-grown ZipMatch.com is an “online real estate marketplace that connects buyers and sellers, offering trend information to buyers and generating leads for brokerage firms and property developers. It has done well, and has potential to grow – but where? *ZipMatch.com’s founder, John Dang This case sits at the intersection of two rising sectors in the Philippines: tech and real estate . *Zipmatch.com is the kind of enterprise in view of the Small Enterprise Technology Upgrading Program (SETUP) this case is one of the few focused on an established medium enterprise, rather than a new startup or micro or small enterprise .

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2 ) Green Fields Coco Products. *Ernesto Custodio began Green Fields Coco Products to create a new market for virgin coconut oil (VCO) products. Over the past two years, his sales have decreased rapidly. H e has relied on sales of his product line of starter packages that help clients to process their own VCO. *H e has been promoting his products through free online advertisements and e-mail. *Custodio can move his struggling company in the right direction. Compared to other cases, this one focuses on a niche market : only four percent (4%) of Philippines entrepreneurs operate within agriculture, forestry, and fishing.

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3.) LOMI KING I n this case, Fatima Lo runs Lomi King , a family- owned restaurant in Lipa City. * She is considering expanding within Metro Manila, but like many MSME owners, she wonders how to operate multiple locations without sacrificing the eatery’s high quality. It is already a daily challenge to manage her inventory of ingredients and her crew of ten – how could she possibly expand? *Still, Lo wonders if business as usual will mean lost opportunities. * In the Philippines, eighty-three (83%) of entrepreneurs fall within the retail trade, hotel, and restaurant industries. *Lomi King thus illustrates the kinds of skills many future entrepreneurs will need in this ecosystem.

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4.) Crossroads for a Young Entrepreneur *This case features a student, Jaap Bala, with a major life decision before him. *To make this decision, Bala needs to scrutinize Wings of Fame’s state using SWOT analysis and other tools in light of market conditions. *Small business and pushes them to understand the entrepreneurial ecosystem they themselves will soon enter – as if their futures depend on it.

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*Like Lomi King, this case focuses on the broader services industry, where most Philippine entrepreneurs work. Yet it also offers the rare chance for would-be entrepreneurs to conduct for themselves detached analysis on the risks and opportunities associated with running a venture versus working in more established sectors. *This is invaluable experience for students about to enter the Philippine job market

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SWOT Analy sis

You can use SWOT Analysis to make the most of what you've got, to your organization's best advantage. And you can reduce the chances of failure, by understanding what you're lacking, and eliminating hazards that would otherwise catch you unawares.

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Strengths are things that your organization does particularly well, or in a way that distinguishes you from your competitors. Think about the advantages your organization has over other organizations. These might be the motivation of your staff, access to certain materials, or a strong set of manufacturing processes.

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Weaknesses, like strengths, are inherent features of your organization, so focus on your people, resources, systems, and procedures. Think about what you could improve, and the sorts of practices you should avoid.

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Opportunities are openings or chances for something positive to happen, but you'll need to claim them for yourself! They usually arise from situations outside your organization, and require an eye to what might happen in the future. They might arise as developments in the market you serve, or in the technology you use. Being able to spot and exploit opportunities can make a huge difference to your organization's ability to compete and take the lead in your market.

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Threats include anything that can negatively affect your business from the outside, such as supply chain problems, shifts in market requirements, or a shortage of recruits. It's vital to anticipate threats and to take action against them before you become a victim of them and your growth stalls.

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* Wings of Fame use SWOT to increase the restaurant’s profit and make the business successful

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Conclusion These four diverse cases represent the case method at its most promising. When taught well, such cases harness the Philippines’ entrepreneurial spirit, and bolster it with the skills that serve young people in new ventures. The Philippine Case Collection is a needed resource in the Philippines’ upstart, high-growth economy. Admittedly, it is difficult to quantify the impact that local cases have on entrepreneurial activities and their successes. But clearly local cases fill a clear need for training young entrepreneurs within the Philippines’ entrepreneurial ecosystem. Home-grown cases, which feature MSMEs represented in the local market, are both practical and aspirational to young would-be entrepreneurs in a way that cases centered on multinationals are not. By demystifying what it takes to run a successful venture and giving clear-sighted perspective on the kinds of challenges they can expect, local cases develop in students an entrepreneurial mindset (or “attitude”). Mindset is increasingly recognized as critical to successful entry into entrepreneurship. In the Philippines, developing entrepreneurial mindset can minimize businesses’ discontinuation and truncation. Educators have an important role to play in instilling this kind of mindset. The case method provides one of the best ways to get there.

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