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Resourcefulness in Filipino Entrepreneurship

The document discusses the traits of resourcefulness and strategic thinking that are important for entrepreneurs. It provides examples of entrepreneurs demonstrating resourcefulness by finding ways to pay back loans or earn money while in school. Strategic thinking requires creativity, innovation, vision, and foresight. Entrepreneurs with strategic thinking experiment with new strategies and solutions, focus on the future, and make careful decisions. While the document notes that Filipinos are thought to be resourceful, only about half of the participants interviewed attributed their success to resourcefulness.

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Leeanji Galamgam
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8 views2 pages

Resourcefulness in Filipino Entrepreneurship

The document discusses the traits of resourcefulness and strategic thinking that are important for entrepreneurs. It provides examples of entrepreneurs demonstrating resourcefulness by finding ways to pay back loans or earn money while in school. Strategic thinking requires creativity, innovation, vision, and foresight. Entrepreneurs with strategic thinking experiment with new strategies and solutions, focus on the future, and make careful decisions. While the document notes that Filipinos are thought to be resourceful, only about half of the participants interviewed attributed their success to resourcefulness.

Uploaded by

Leeanji Galamgam
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

This brings us to the first subtheme of ingenuity called resourcefulness.

Filipinos wasdasdaho possess grit

are found to possess a traita called resourcefulness. One participant exemplified asdsaaaasdadthis trait

through finding different ways he can pay for the money he borrowed when he was first starting his

busiwwness. Another participant demonstrated this by looking for ways he can earn money back when ashe

was still in school. Resourcefulness is found to be related to the theme resilience. Cassidy (2015) defined

resilience as the potenaatial to exhibit resourcefulness by using internal and external resources in

asdasfresponse to different contextual and developmental challenges. When faced with challenges,

asdasdgritty entrepreneurs. A similar concept related to resourcefulness is entrepreneurial alertness.

Karabulut (2016) developed the concept of "entrepreneurial alertness" which suggested that

entrepreneurship was discovering and exploiting opportunities and resources when the economy moved to

equilibrium. Despite the usual notion that Filipinos are known to be resourceful, only almost half of the

participants attributed resouracefulness in their success. Most of the participants attributed their experiences

to other factors. One participant mentioned being self-reliant in earning financially, rather than relying on

others. Instead of viewing this as an example of being resourceful, the participant thought of looking for

other means and resources to gain a profit as an example of determination.

Every business involves strategic thinking. Strategic thinking is defined as creativity, disruptive, future-

focused, and experimental in nature (Moon, 2012). Strategic thinking requires creativity (Zahra, &

Nambisan, 2012). Having creativity means having the ability to be imaginative and to think outside of the

box. Zampetakis (2008) defined creativity as the production of novel and useful ideas and products.

Furthermore, the term “disruptive” in this definition would mean being innovative. This innovativeness

would relate to the subthemes risk-taking and courage. An innovative entrepreneur is not scared in

experimenting on new business strategies or ventures and is not afraid of failures. Strategic thinking is

about ideas and the development of novel solutions to create a competitive advantage. Moreover, being

future-focused connotes having a vision. Moon (2012) added that entrepreneurs possess vision-driven

thinking. They have a strong sense of vision, and place great emphasis on building an organization with a
deep understanding of its reason for existence. Zahra, & Nambisan (2012) called this foresight, or

shadowing the future; that is foreseeing its shape before it materializes. All of these are similar to the

purposefulness subtheme of perseverance. An entrepreneur plans his or her business activities in line with

his or her goals. Another important aspect of any business is decision-making. Entrepreneurs are careful

and deliberate when it comes to decision-making. An example from one participant would be cautiously

weighing the risks and benefits of a business proposal before coming to a resolution.

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