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How to Apply the Principles and Practices of Entrepreneurship by Feliciano Fajardo in Your Own Context



Entrepreneurship by Feliciano Fajardo: A Book Review




Introduction




Entrepreneurship is the process of creating, launching, and managing a new business venture. It involves identifying a problem or a need, finding a solution or an opportunity, developing a product or a service, and delivering value to customers. Entrepreneurship is important because it drives innovation, economic growth, social change, and personal fulfillment.




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One of the books that aims to teach and inspire aspiring entrepreneurs is Entrepreneurship by Feliciano R. Fajardo. Fajardo is a Filipino author, educator, and consultant who has written several books on business, management, economics, and entrepreneurship. He has also taught at various universities and colleges in the Philippines and abroad.


The purpose of this book is to provide a comprehensive and practical guide to entrepreneurship for the Philippine setting. It covers the basic concepts, principles, processes, and practices of entrepreneurship, as well as the opportunities, challenges, and risks involved. It also features examples and case studies of successful Filipino entrepreneurs who have made their mark in different industries and sectors.


Summary of the book




The book is organized into nine chapters that cover different aspects of entrepreneurship. The chapters are as follows:



  • Chapter 1: Introduction to Entrepreneurship - This chapter defines entrepreneurship and its importance, explains its historical development and evolution, describes its types and characteristics, and identifies its benefits and drawbacks.



  • Chapter 2: The Entrepreneur - This chapter discusses who an entrepreneur is, what motivates him or her, what skills and qualities he or she needs, what roles and functions he or she performs, what challenges and problems he or she faces, and what rewards and satisfaction he or she derives.



  • Chapter 3: The Entrepreneurial Process - This chapter outlines the stages and steps involved in starting and running a new business venture. It covers opportunity identification, feasibility analysis, business planning, resource mobilization, business launch, business operation, business growth, business exit.



  • Chapter 4: Opportunity Identification - This chapter explains how to find and evaluate business ideas that have potential for success. It covers sources of ideas, methods of generating ideas, criteria for screening ideas, techniques for testing ideas.



  • Chapter 5: Feasibility Analysis - This chapter describes how to assess the viability and profitability of a business idea. It covers market analysis, technical analysis, financial analysis, organizational analysis.



  • Chapter 6: Business Planning - This chapter shows how to prepare a business plan that serves as a blueprint and a tool for managing a new business venture. It covers the purpose, contents, format, and presentation of a business plan.



  • Chapter 7: Resource Mobilization - This chapter discusses how to acquire and manage the resources needed to start and run a new business venture. It covers human resources, physical resources, financial resources, legal resources.



  • Chapter 8: Business Launch - This chapter explains how to implement the business plan and launch the new business venture. It covers pre-launch activities, launch activities, post-launch activities.



  • Chapter 9: Business Operation, Growth, and Exit - This chapter explores how to operate, grow, and exit a new business venture. It covers operational management, marketing management, financial management, human resource management, growth strategies, exit strategies.



The book also includes appendices that provide additional information and resources on entrepreneurship, such as sample business plans, forms and documents, laws and regulations, agencies and organizations, references and readings.


Main themes and concepts




The book covers several themes and concepts that are essential for understanding and practicing entrepreneurship. Some of the key themes and concepts are:



  • Entrepreneurship is both an art and a science. It requires creativity and innovation, as well as knowledge and skills. It is also influenced by personal, social, cultural, economic, and environmental factors.



  • Entrepreneurship is a dynamic and complex process. It involves multiple stages and steps, each with its own challenges and opportunities. It also requires constant learning and adaptation to changing conditions and customer needs.



  • Entrepreneurship is a risky but rewarding endeavor. It involves uncertainty and ambiguity, as well as competition and regulation. It also offers potential benefits such as income, independence, recognition, satisfaction, and contribution.



  • Entrepreneurship is a team effort. It requires collaboration and cooperation among various stakeholders, such as entrepreneurs, customers, suppliers, employees, investors, partners, mentors, advisors, regulators, supporters.



  • Entrepreneurship is a social responsibility. It has an impact on society and the environment, both positively and negatively. It also has ethical implications and obligations for entrepreneurs and their stakeholders.



Strengths and weaknesses




The book has several strengths that make it a valuable resource for aspiring entrepreneurs. Some of the strengths are:



  • It is comprehensive and practical. It covers all the essential topics and aspects of entrepreneurship in a clear and concise manner. It also provides useful tips, tools, examples, exercises, and case studies that illustrate the concepts and applications of entrepreneurship.



  • It is relevant and contextualized. It focuses on the Philippine setting and incorporates the local culture, values, practices, opportunities, challenges, and examples of entrepreneurship. It also reflects the current trends and issues in entrepreneurship in the global and local markets.



  • It is inspiring and motivating. It showcases the stories and achievements of successful Filipino entrepreneurs who have overcome various obstacles and challenges to create value for themselves and others. It also encourages readers to pursue their entrepreneurial dreams and aspirations.



The book also has some weaknesses or limitations that could be improved or addressed in future editions. Some of the weaknesses are:



  • It is outdated and incomplete. The book was published in 1994 and has not been updated since then. It does not include some of the recent developments and innovations in entrepreneurship such as digital technology, e-commerce, social media, social entrepreneurship, green entrepreneurship.



  • It is biased and prescriptive. The book reflects the author's personal views and opinions on entrepreneurship which may not be shared or agreed by other experts or practitioners. It also provides specific guidelines and recommendations on entrepreneurship which may not be applicable or suitable for every situation or context.



  • It is dense and dry. The book contains a lot of information and details on entrepreneurship which may be overwhelming or boring for some readers. It also lacks visual aids such as graphs, charts, diagrams, pictures that could enhance the presentation and comprehension of the material.



Conclusion




Entrepreneurship by Feliciano R. Fajardo is a book that aims to teach and inspire aspiring entrepreneurs in the Philippine setting. It provides a comprehensive and practical guide to entrepreneurship that covers the basic concepts, principles, processes, and practices of entrepreneurship, as well as the opportunities, challenges, and risks involved. It also features examples and case studies of successful Filipino entrepreneurs who have made their mark in different industries and sectors.


The book is intended for students, teachers, researchers, and practitioners of entrepreneurship who want to learn more about the subject and apply it in their own contexts. book is also suitable for anyone who is interested in learning more about entrepreneurship and its impact on society and the environment.


FAQs




Here are some frequently asked questions and answers about the book:



Q: Where can I get a copy of the book?


  • A: You can buy the book from National Book Store or other bookstores in the Philippines. You can also borrow it from libraries or download it online from various sources.



Q: How much does the book cost?


  • A: The book costs around 200 pesos for the paperback edition and around 300 pesos for the hardcover edition.



Q: How long does it take to read the book?


  • A: The book has 236 pages and can be read in a few hours or days depending on your reading speed and interest.



Q: Is the book suitable for beginners or advanced learners?


  • A: The book is suitable for both beginners and advanced learners of entrepreneurship. It covers the basic and essential topics as well as some advanced and specialized topics. It also provides different levels of difficulty and complexity for the exercises and case studies.



Q: Is the book relevant and updated?


  • A: The book is relevant and updated to some extent. It reflects the current trends and issues in entrepreneurship in the global and local markets. However, it does not include some of the recent developments and innovations in entrepreneurship such as digital technology, e-commerce, social media, social entrepreneurship, green entrepreneurship.



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