Entrepreneurial Skills of Sole Proprietorship in Solano,nueva Vizcaya

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The study focuses on the entrepreneurial skill of Sole Proprietorship Businesses in Solano, Nueva Vizcaya and this research aims to provide the information needed for starting businesses to give them ideas on how their business to become successful.

Statement of Problems

This study aim to determine the Entrepreneurial Skills of Sole Proprietorship Businesses in Solano, Nueva Vizcaya.

Specifically, it sought to answer the following questions:

- What is the Demographic Profile of the Respondents in terms of:

- Age

- Gender

- Ethnicity

- Civil Status

- Monthly Income

- Affiliation

- Educational Attainment

- What are the Entrepreneurial Skills possess by Sole Proprietorship Businesses?

- How did they develop their Entrepreneurial Skills?

Hypothesis

- There are no Entrepreneurial Skill possess by Sole Proprietorship Businesses.

Significance of Study

The result of the study is hoped to be beneficial to the following:

Sole Proprietorship Businesses:

- It will be provided information about the Sole Proprietorship Businesses.

- It will be provided criteria in assessing their entrepreneurial skills.

Whole Businesses:

- It will provide information and awareness towards entrepreneurial skills

- Researchers:

- The study will be serving as a reference for related studies.

Scope and Delimitation

This study is limited only to the determination of the Entrepreneurial Skills of Sole Proprietorship Businesses in Solano, Nueva Vizcaya. The questions that will be ask in this study include the profile of the respondents which includes their Age, Gender, Ethnicity, Civil Status, Monthly Income ,Affiliation and Educational Attainment.

This study will use descriptive survey research. It was only limited to the information gathered from the respondents. A questionnaire will utilize in data gathering.

Conceptual Framework

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Explanation of the Conceptual Framework

The left box presents the Input. These are the variables to be investigated and studied which includes the Entrepreneurial Skills and Profile of the respondents. The middle box presents the Process to be undertaken which includes the Determination of Relationship between the profile and Entrepreneurial Skills. The right box presents the Output or the end product of input and process after processing the input, respondents may have a well improved Entrepreneurial Skills.

Definition of Terms

Deal to Dealers – it includes highly knowledgeable businessmen engaged in various forms of trades frequently in directly or indirectly related lines of works.

Entrepreneur – one who organizes, manages, and assumes the risks of a business or enterprise.

Entrepreneurial Process – is the process of starting a new venture is embodied.

Entrepreneurship –involves the creation of the value, the process of starting or growing a new profit-making business, the process of providing a new product or service

Innovation – is one of the key distinguishing characteristics of an entrepreneurial activity. The link between entrepreneurship and economic growth.

Leadership – is an essential quality of an entrepreneur. Characteristics of a leader and on entrepreneur are almost the same.

Nascent Entrepreneur – an individual who is in the process of starting a new business.

Opportunities – these are good and favorable business prospect where there is a good chance or probability of future success.

Solo Self-employed Individual – it include such group as tradespeople, sales agents, repairmen and brokers as well as highly paid professionals, accountants, physicians who operate alone or with only a few employees and perform work personally.

Sole proprietorship - is the simplest business form under which one can operate a business

Chapter 2

Review of Related Literature and Studies

Review of Related Literature

In the late 19thand early 20thcenturies, entrepreneurs were frequently not distinguished from managers and were viewed mostly from an economic perspective.

Joseph Schumpeter’s vision on entrepreneurs is as follows:

The function of the entrepreneur is to reform or revolutionize the pattern of

production by exploiting an invention or, more generally, an untried technological method of producing a new commodity or producing an old one in new way, opening a new source of supply of materials or a new outlet for products, by organizing a new industry.

(Joseph Schumpeter1952, p 72)

The concept of innovation and newness is an integral part of entrepreneurship in this definition. Indeed, innovation the act of introducing something new is one of the most difficult tasks for the entrepreneur (Robert D. Hisrich and Michael P. Peters, 2002). This ability to innovate can be observed throughout history, from the Egyptians who designed and built great pyramids out of stone blocks weighing many tons each, or the Great Big Temple5 in Thanjavur, Tamil Nadu –India, that

was built with extraordinary design to Apollo Lunar module that was sent to Moon and laser beams. Although the tools have changed with advance in science and technology,