Mariel C.

Bombita BACOMM – 2 Entrepreneurial Mind

1. What holds true about the definition of entrepreneurship that was manifested by the person
being interviewed in the video? (25 points)
Entrepreneurship is commonly defined as the concept of creating and managing a
business venture in order to gain profit by taking several risks which is exemplified by the
person being interviewed in the video. Leo Casaclang decides to become a young farmer
because he sees an opportunity in the land that he inherited from his grandparents. That
opportunity is to convert their underutilized land into profitable agricultural. They have a variety
of vegetables and fruits that might be sold in the market, as well as trees that could be used to
make furniture and livestock like cows and pigs. In entrepreneurship, it's not only about selling
your products to consumers and generating income right away. There is a process that you
need to fulfill in order for your business to succeed. One must have a technical knowledge on
how to manage a business so that the outcome of your hard work wouldn't be wasted and will
prosper instead because you know what to do. You must be able to examine your customers'
wants and determine who your target market for your products is. As he stated in the video, his
advantage as a millennial farmer is that he understands how to research and collect various
types of information about everything inside and outside of his business, which I believe is a
critical move because it will greatly assist him in his next action steps and decision-making
process. Internal business procedures, market competitors, products, and customers could all
be the subject of the study. Mr. Casaclang is not only in the farming industry to make a profit for
himself, but also to employ people that can help him make his business successful. But
providing employment for him entails not just assigning duties to them and allowing them to
complete them on their own, but also teaching them how to do their jobs properly by allowing
them to see and study what specialists do and apply it to their activities as farmers.
2. Is he an entrepreneur? Yes or No, justify your position. (25 points)
Yes, he is an entrepreneur since he organizes his farm's means of production in order to
engage in entrepreneurship. He is an entrepreneur because he realized the potential of
agriculture as a lucrative business. He also exhibits a number of characteristics that define an
entrepreneur. He's a young man with a lot of passion. Entrepreneurs are motivated by their
passion. As he stated in his interview, he studied BS Entrepreneurship at the University of
Santo Tomas, one of the Philippines' most prestigious universities, and his decision to work in
an agricultural setting rather than in the corporate world speaks volumes about how determined
he is and how much he enjoys what he is doing now. He enjoys what he does, which motivates
him to devote time to his business, from planning to distribution, market analysis, and
understanding what his customers want. He is also a driven individual. He stated that the most
satisfying feeling he gets as a farmer is when his customers like his products and buy more from
him. He also knows what he's doing, which indicates he's knowledgeable about the products
he's producing. He is well-versed in what they have to offer and who they can market it to. He is
constantly learning about his market, he understands what people want, and he knows how to
strategize or know the features that set him apart from others in the agricultural industry. For
example, instead of doing the traditional way of selling, where middlemen buy products at a low
price and then sell it in the market for a higher price, he will do direct selling, where the
distribution will only be between himself and his customers. In this way, his customers will have
faith in him, and he will be able to interact with them because he will be aware of their product
feedback. To be a successful entrepreneur, you must be able to connect with others. Meeting
new individuals could help you gain access to resources or knowledge that your business
needs. It enables you to learn from other people's successes, promote your services or
products, and meet new people. An entrepreneur's capacity to network is another key trait, and
he possesses it as well. In his interview, he stated that if his customers appreciate his products,
they will be the ones to promote them to others, which would be helpful to him because it would
be like hitting two birds with one stone. He is also focused on achieving his objectives. He
knows what he wants to do, has established a goal, and is working toward it. Determination is
necessary for overcoming obstacles, and it also inspires trust in those who work with you. He
informs his workers and lets them know about what experts do so that they can do their jobs
efficiently and effectively to produce better results. When questioned if it is possible to succeed
in farming, he replied that it is conceivable if you know your market, are informed about what
you do, are strategically creative, and can direct your products to your customers.
3. Make a 500-word convincing essay, as reflection to the video that you've watched. (50 points)
Farming is such an undervalued profession, and seeing a millennial, passionate young
man like him in this field gives me hope that, in the future, farming - the world's most important
career - will be recognized and appreciated more. It is disheartening that many people continue
to undermine farming. Most people underestimate the importance of farmers in the world.
People are overly invested in the image of farmers that they have imprinted on their minds.
Many people look down on them because they believe that people who work in agriculture are
the poorest of all. Farmers, on the other hand, are the backbone of our economy and society.
They are the ones who provide us with all of our food. Farmers support the entire country's
population. Whether it is the smallest or largest country. Only because of them are we able to
live on the planet. Farmers are in charge of all crops and livestock that are needed for us to
survive. Without food, the world would die slowly, and farmers work hard every day to keep
plenty of crops and animal products in the market to prevent this from happening. However,
they are the ones who do not have a proper living, which is a sad reality. If people would just
love and value farming, every nation in the world would be able to break free from the nightmare
of poverty.
Seeing Mr. Casaclang share his passion and love for agriculture, for me, is an array of
hope that maybe if more youths would show interest in farming, indeed millennials would be the
farmers of tomorrow. While respecting family traditions, millennials will be motivated to find
ways to make farming more efficient and profitable through the use of technology and
entrepreneurship. Farming will be made easier by automated equipment, tractors, drones, and
robotics. Millennials are more likely to collaborate with friends and neighbors to share work,
equipment, and storage. As being healthy is becoming more 'hip,' many millennials are
becoming more conscious of what they eat. Several of them have decided to cultivate the land
and open their own 'all-organic' stores. This has contributed to the current rise of millennial
farmers. Farming is considered an old-fashioned profession, but millennials are now pursuing it
as a college major, majoring in agriculture and animal sciences. Their interest in quality food
and business is what motivates them to revolutionize farming. This generation is known for their
technological mastery, which aids in the modernization of farming. Farming has seen a number
of technological advancements. Because of the invention of agricultural robots, as well as
automated tractors and drones that make planting, irrigation, and other tasks easier, working in
agriculture now appears to be like living in a science fiction universe. For whatever reason,
whether it is wanting farming to be their choice of livelihood, helping to achieve a more
sustainable environment, or simply having their own source of food, millennials are the
unprecedented protagonists in the quest to help preserve the farming way of life.