Benefits Of Entrepreneurship In The Philippines

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Body In the Philippines, Entrepreneurship has been growing immensely over the past few years since the government is actually and continually allowing it because its impact on the economy ranges from inviting more competition in the market which then introduces more as well as better innovative technologies, products, and services while also providing new job opportunities for the upcoming workforce. The purpose of this research is to study how entrepreneurship works in relation to the entrepreneur. By understanding their correlation, the study can be then used as a tool in order to raise entrepreneurship awareness. The researchers conducted an online survey with 36 respondents hailing from the (15) Ateneo De Manila Business School as well…show more content…
As shown, that the Philippines do benefit from entrepreneurship since 57% of the respondents reported that it affects certain aspects of our economy in terms of the following: it allows international trade due to buyers and sellers in the market, invites positive competition because there is a diversity on products and services, it increases our Gross national product (GNP) and Gross domestic product (GDP) by creating new businesses and job opportunities, while lastly, it generally increases human productivity therefore creating a higher standard of living for all. Overall, the data indicates that some Filipinos can recognize the potential of entrepreneurship because in line with the respondent’s answers, they were able to identify certain aspects in it that helps in the economic development of the Philippines. Furthermore, the data gathered also implies that since Filipino are aware of the benefits of entrepreneurship, they are also aware the impact to bears. This could have been the result of the rise of successful entrepreneurial businesses in the Philippines in the past decade, such as Jollibee, Philippine long distance telephone company (PLDT), shoe-mart (SM) and Ayala Corporations because through the accomplishments of these mega corporations, more Filipinos are now encouraged that our country will be more progressive in the future since there is now an alternative for economic…show more content…
It has become a prominent strategy that is useful to global economy for a large number of companies (Luo, 1999). Worthington (2003) agreed that ―In this highly competitive market the companies are considering to enter new countries to gain advantages from their rivals either to reduce cost or as a strategy for boosting demand. Therefore, in order to ensure their survival, firms are urged to get into the international new markets. In the (“Education, Employment & Entrepreneurship”, 2013), every country most especially well developed ones must always be concerned about providing jobs because population growth inevitable in developed countries. If we continue to dismiss this problem, when the youth mature and become the new incoming workforce then there will be intense competition in the market therefore job opportunities is lost. Another effect of a growing population and unemployment the It also cited is poor educational services. When population and unemployment rises, the quality of education is severed. There is no real progress to better the system thus leaving the workforce ill-equipped on skills and knowledge on how to handle today’s high demanding jobs. A possible solution posited by them, is that a country should invest a new teaching techniques in order to allow their students to capitalize on critical thinking, leadership and decision making, some skills employers value in their

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