A QUALITATIVE INQUIRY ON STUDENT ENTREPRENEURS AND THEIR

MANAGEMENT PRACTICES

A Qualitative Research

Presented to the Faculty of Ateneo de Davao University Senior High School Commented [JC1]: A Qualitative Research
1.15 spacing
In partial fulfillment of the requirements in

PRACTICAL RESEARCH 1

Yumilcka Rafhaella M. Beluan

Kristine Alyssa B. Morales

Rebekah C. Sumampong

Katrina Jesrene C.Datoy

Giazaica M. Salvador

Vincent Roi A. Japay

Faisal L.Dampac

Grade 12- Anchieta

Frances Elaine Palou, LPT

Research Adviser

October 2018

i
 ATENEO de DAVAO UNIVERSITY
SENIOR HIGH SCHOOL
Jacinto St., Davao City, Philippines

APPROVAL SHEET

In Partial Fulfillment of the requirements for the course subject Practical Research 1
under Accountancy, Business and Management, this study is entitled:

A QUALITATIVE INQUIRY ON STUDENT ENTREPRENEURS

AND THEIR MANAGEMENT PRACTICES

Has been prepared and submitted by BELUAN, DAMPAC, DATOY, JAPAY,

MORALES, SALVADOR, and SUMAMPONG who are recommended for the CULMINATING
PERFORMANCE TASK.

Francesca Elaine Palou

Research Adviser

APPROVED in partial fulfillment of the requirements for the course subject Practical
Research 1, under Accountancy, Business and Management, by the Office of the Chair.

Aimee Bisnon
Chairperson – Accountancy, Business and Management

ACCEPTED in partial fulfillment of the requirements for the subject Practical Research
2 and Applied Inquiries and Investigations.

October 19, 2018 __________________________

Date Ms. Aujefel Amor Y. Lee
Assistant Director for Academics
Senior High School Unit

ii
 ATENEO de DAVAO UNIVERSITY
SENIOR HIGH SCHOOL UNIT
Jacinto St., Davao City, Philippines

Declaration of Originality

We, BELUAN, DAMPAC, DATOY, JAPAY, MORALES, SALVADOR,

SUMAMPONG declare that this research is original to the best of our knowledge. We
declare further that this activity was undertaken by us.

Beluan, Yumilcka Rafhaella M.

Dampac, Faisal L.

Datoy, Katrina Jesrene C.

Japay, Vincent Roi A.

Morales, Kristine Alyssa B.

Salvador, Giazaica M.

Sumampong, Rebekah C,

Researchers

October 10, 2018

Date Signed Commented [TM2]: Date of your presentation/defense.

iii
 ACKNOWLEDGEMENT

This research paper would have been utterly impossible if not for the help and

support of the people around us. With that, we would like to express our warmest gratitude

to the following:

To our Almighty Father, for giving us strength and good health while doing this

study.

To Ms. Francis Elaine Palou, our Practical Research teacher, who despite her busy

schedule, has imparted us with sufficient knowledge that aided us to complete this study.

Her feedback and advice for every chapter encouraged us to do and make our tasks

better. With that, we would like to express our sincerest gratitude, there is no doubt that

without her assistance, encouragement, and guidance, we would not have fully

understood and finished this study.

To our respective parents, for the unconditional support they have given us which

drove us to do the tasks with determination. They have been our constant source of

inspiration to complete this study with their unwavering understanding as we gave our

best efforts to complete this research.

To Grade 12 – Anchieta, our classmates, for the support and understanding that

they have given our group, by helping us gather all the data necessary for the completion

of this study.

To those who were not mentioned, but in some ways, provided us with the help we

needed, thank you so much.

The Researchers

iv
 DEDICATION

This study is dedicated to the following:

Our family,

Friends

Grade 12 – Anchieta S.Y. 2018-2019,

And
The Almighty Father

“What we work on today, others will first think of tomorrow.”

- Alan Perlis

v
 ABSTRACT

This study identified the different management practices and strategies of student

entrepreneurs on running their business as well as handling the varying factors that they

encounter from time to time. The challenges and coping practices of student

entrepreneurs were also highlighted in this study. This research was conducted to identify

and to analyze the different skill-related dimensions and practices of student

entrepreneurs among the SHS and college students of Ateneo de Davao University.

Through qualitative inquiry, this study followed the phenomenological design by gathering

information on the lived experiences of seven student entrepreneurs from the senior high

school and college unit of Ateneo de Davao University. Through this study, we found out

that student entrepreneurs manage their business by prioritizing it over other activities in

their lives, by proper allocation of income and through role models that influence their

management practices as they run their business. We also learned that student

entrepreneurs have different strategies on running their business such as considering

varying external factors, committing to actions to improve their business rather than being

passive, and having proper estimation of the necessary products that will be sold for a

specific period. However, student entrepreneurs are still being challenged with proper

balance between school and their business venture. Nevertheless, student entrepreneurs

cope up with these challenges by making it as their motivation to further improve their

products and by responding positively to the criticisms that they receive.

vi
Keywords: Ateneo de Davao University, Senior High School students, College students,

student entrepreneurs, management practices, thematic analysis, qualitative research,

phenomenological study

vii
 TABLE OF CONTENTS Commented [EA3]: Of course, the page numbers vary
from one research to another.

Page

Title Page ………………………………………………………………….......... i

Approval Sheet …………………………………………………………………. ii

Declaration of Originality …………..…………………………………………… iii

Acknowledgement …………………………………………..………………… iv

Dedication ……………………………………………………………………… v

Abstract ………………………………………………………………................ vi

Table of Contents ………………………………………………………………. viii

CHAPTER

1 Introduction

Theoretical Lens ……………………………………………….................. 3

Research Questions ……………………………………………………... 4

Scope and Delimitation …………………….……………………………. 4

Significance of the Study ………………………………………………… 6

Definition of Terms …………………………………………………..... 6

viii
2 Review of Related Literature 8

3 METHODS

Research Design ………………………………………................... 22

Research Participants ……………………………………………… 23

Role of the Researcher ……………………………………………… 24

Data Source …………………………………………………………. 24

Data Collection ……………………………………………………… 25

Data Analysis ………………………………………………………… 26

Trustworthiness of the Study ………………………………………. 27

Ethical Consideration ………………………………………………. 29

4 PRESENTATION OF RESULTS

The management practices of student entrepreneurs………….. 31

The strategies of student entrepreneurs…………………………. 38

The challenges faced by student entrepreneurs………………… 43

5 DISCUSSION AND IMPLICATIONS Commented [EA4]: Add the Implications to Research

Agenda
Implications to (STRAND ) Education before concluding
remarks
The management practices of student entrepreneurs ………….. 49

ix
 The strategies of student entrepreneurs………………………….. 51

The challenges faced by student entrepreneurs …………………. 53

Concluding Remarks………………………………………………… 58

REFERENCES …………………………………………………………..……. 60

APPENDICES Commented [EA5]: Add letter D as the observation

sheets

A- Permission Letter to the Office of the Assistant Director for 67

Academics ……………………….

B- Informed Consent for the Participants ………………………. 68

C- Interview Guide ………………………………………………… 75

CURRICULUM VITAE …………………………………………………. 77

x
 CHAPTER 1

INTRODUCTION

Through the years, the emergence of young student entrepreneurs all around the

world is not anymore surprising. Student entrepreneurs are students using “classrooms

and labs as platforms, resources, and subsidies to construct marketable products,

processes, or services” (Mars, Slaughter, & Rhoades, 2008 cited in Hermens &

Marchand, 2015). They are everywhere and can be found in any school under different

institutions, a fact supported by Santander University UK (n.d., cited in O'Neill, 2015),

which revealed that twenty-four percent of university students run a business venture of

some sort. In addition, these student entrepreneur’s propensity to start a business is

influenced by different contexts. One good example are student entrepreneurs whose

families have business backgrounds.

A survey conducted by Sieger, Fueglistaller, & Zellweger (2016) shows that 17.5%

among the students from different countries engaged in business activities have parents

who are self-employed or own a private business. Furthermore, Sieger et al. (2016) also

recognized the influences student entrepreneurs acquire in the university context. The

survey states that “the more intensive the students’ involvement in entrepreneurial

activities and offerings are, the stronger their entrepreneurial intentions are.” Therefore,

continuous interaction and involvement with related activities may also influence an

ordinary student’s entrepreneurial interest.

In the Philippines, around 45 percent of those engaged in early stage

entrepreneurship belong to the group of 18-34 years old, with high school graduates

dominating the start-up phase (Reyes, 2015). In addition, various well-known and

1
successful business establishments in the country are owned by individuals who started

their business when they were in their early 20’s, with some starting at the age of 17,

without necessarily having specific entrepreneurial backgrounds (Concepcion, 2011).

Correspondingly, Malolos (2017) states that not all successful entrepreneurs have

entrepreneurship or business degrees. Oftentimes, these individuals have inherent

entrepreneurial skills which they hone overtime to propel their business to success.

Factors such as leadership skills, creativity and problem-solving skills contribute

effectively to a students’ entrepreneurial capabilities (Ramos, 2014).

Ateneo de Davao University, a school known for producing excellent business-

inclined individuals, is not an exception to this trend. We, the researchers, transact with

these student entrepreneurs on a daily basis and as a result, they have become the

subject of interest for this particular study. As students ourselves, we know how stressful

it is to manage academics alone. Hence, this reality of student life has made us question

how these particular student entrepreneurs balance their business and personal lives.

Management is defined as the judicious use of means to accomplish an end (Merriam-

Webster.com, 2018). Thus, it is this study’s purpose to investigate the practices that

student entrepreneurs from Ateneo de Davao University do to control and coordinate their

resources productively.

In line with this, we would also like to investigate the various aspects that student

entrepreneurs consider to effectively manage their business and other activities. Through

qualitative inquiry, we will gather all the necessary information, particularly on the student

entrepreneurs’ time management, resource management, and customer management,

as well as the difficulties they face and how they overcome such challenges. In addition,

2
we also aim to inquire on the management skills and techniques of student entrepreneurs

who have no entrepreneurial backgrounds, such as students belonging to other strands

other than Accountancy, Business and Management. We, the researchers, hope that the

information gathered from this study will create an impact on our lives not just in terms of

business but also in other aspects.

Theoretical Lens

This study is anchored on the theory of entrepreneurial behavior. Entrepreneurial

resources are tangible and intangible assets directly used and mobilized by entrepreneurs

in the process of business. These resources are broad and are comprised of significant

and diverse amount of resources. It is stated that with efficient resource management,

decision makers should be able to recognize and address important scarce resources as

well as correct potential market failures (Business Dictionary, n.d.; Hutterer, Pilz, Stark,

and Steiner, 2000). In creating a sustainable business venture, the successful acquisition

and management of resources plays a very essential role. Consequently, on

entrepreneurial behavior, "the more time and efforts one devotes toward accomplishing

a task, the more likely it is that the achievement of this task will occur" (Gatewood, et al.,

1995, as cited in Morris, Shirokova, and Tsukanova, 2017; Hulsink and Koek, 2014, as

cited in Morris, Shirokova, and Tsukanova, 2017). If one concentrates his efforts to a

specific task, for example, in effective management, there will be a high chance that

effective management will contribute positively to his planned goals and objectives.

3
 These theories and concepts are relevant to this study because we have chosen

to focus on management skills as they are an integral aspect to consider in running a

business as well as balancing their student and entrepreneurship lives. These theories

support the fact that resource mobilization has a significant effect to entrepreneurial

performance. Relating the theories to the context of student entrepreneurs, it can be said

that the students' management skills would directly affect their performance. Their

management skills with regards to time, money, as well as other resources should be

given utmost consideration to achieve their objectives successfully. Hence, these theories

lend credibility to the research questions because they establish the relevance of the

research questions to the aim of the study.

Research Questions

This study aimed to find answers to the following questions:

I. What are the management practices of student entrepreneurs?

II. What strategies do student entrepreneurs do to effectively manage their business?

III. What are challenges faced by student entrepreneurs?

Significance of the Study

We aim to create the following impacts on the institutions stated below through this

study:

Students. This study aims to serve as a means to aid aspiring student

entrepreneurs in deepening their understanding of the processes and

considerations that take place in managing a business. In addition, this study can

4
become a source of additional information for already existing student

entrepreneurs regarding a more effective management for their time and finances.

This study can also make students aware of the existing struggles that student

entrepreneurs encounter day to day. Lastly, the content of this study is not limited

for student entrepreneurs alone; it is also intended for ordinary students to use as

a guide in developing their own patterns of managing other aspects in life.

Teachers. This study seeks to serve as a concrete example that teachers of

business-related subjects can use for a more effective portrayal of lectures and

lessons within the course. This study can also be a bridge between student

entrepreneurs and their teachers which can result to a deeper understanding of

one another.

School. This research may encourage schools to be more aware of existing

student entrepreneurs, thus, they can choose to provide sufficient support like

creating a more student entrepreneur-friendly environment and holding different

events that can be used as a stepping stone for students to sell their products.

Furthermore, this study can also deepen the administration of a certain school to

broaden their knowledge on the demands of the business world to young

entrepreneurs. This can lead to the possibility of universities, colleges and even

high schools to offer more entrepreneur-related subjects to courses that do not

specialize on business.

Future Researchers. This study can be an aid for future studies in terms of

providing existing themes and trends among student entrepreneurs. The

5
 researchers are hoping that this study can provide enough information in such a

way that future researchers can gather the necessary contents, such as the

analysis and patterns, needed for their own studies. The researchers also hope

that the references used in this study can be a way for future researchers to

discover a wider scope of references for their own researches.

Scope and Delimitation

This study was conducted in Ateneo de Davao University, involving 7 participants

from the senior high school and college students. The type of sampling used was

purposive sampling. Furthermore, we utilized the outline of a semi-structured interview.

This allowed us to ask follow-up questions which were not part of the prepared outline for

a more effective data gathering. The questions were limited only to the student

entrepreneurs’ management practices as this study has no intention to delve deeper into

a student entrepreneur’s emotional conflicts. Furthermore, this study was done under 4

months, given that the time was enough for us to gather information and analyze the data

collected.

Definition of Terms

This study utilized the following definitions for the succeeding words:

Student entrepreneurs. Students engaged in business related activities such as

selling products and providing services in exchange for money.

Business. The activity of selling goods and services in exchange for money.

6
 Organizing. To arrange things and events through a systematic planning to make

all of it work together.

Management. The act of controlling one’s resources to effectively serve one’s own

benefits.

Practices. An activity that a person does repeatedly which eventually becomes

their continued habit, aiding to become better at such activity.

Strategy. A method done carefully to attain a certain goal.

7
 REVIEW OF RELATED LITERATURE

The review of related literature for this study focused primarily on the essential time

and resource management abilities, strategies utilized, and challenges faced by the

student entrepreneurs in Ateneo de Davao University. Different factors were considered

with how the student entrepreneurs handle daily tasks in their entrepreneurial, academic,

and personal lives. Furthermore, this chapter will include both international and national

studies. We, the researchers, believe that the literature presented in this chapter are

directly related to the topics on time and resource management, strategies and

techniques as well as the challenges encountered by student entrepreneurs. Thus,

providing a more reliable and concrete data of how the student entrepreneurs maintain a

balance with the different factors at hand.

Student Entrepreneurship

Before, the term 'Student Entrepreneurship' has been used exclusively for students

who are enrolled in entrepreneurship courses. However, due to the gradual emergence

of students who engage in business activities throughout the years, the word took on a

multitude of new meanings (Marchand, Hermens, and Sood, 2016). Entrepreneurship as

a whole is defined as a skill to start new businesses and the ability to see and utilize new

opportunities (Cambridge Dictionary, n.d.). Relating this to student entrepreneurs, student

entrepreneurs are not just students who attend entrepreneurial classes; they are also

students who conduct "innovative and revenue-generating entrepreneurial activities" on

campus or near the school premises while at the same time attending formal classes

(Marchand, et al. (2016). Another meaning of "student entrepreneur" as stated by Bailetti

(2011) is the usage of university knowledge to recognize different opportunities and

8
develop, launch, and operate new ventures to exploit them. To put it simply, student

entrepreneurs take advantage of their school environment to effectively position their

business.

Management

Management is the organization and the coordination of the activities of business

for the achievement of the desired objectives. It is often included as a factor of

production along with machines, materials, and money (Management, n.d.). In the

context of student entrepreneurship in this study, the researchers will look into the aspects

of the students' experiences in resource management, financial management, and time

management.

According to the Association for Project Management (n.d.), resource

management is the acquisition and utilization of resources required to deliver work. These

resources include people, materials, technology, property and anything else essential for

work. On the other hand, financial management is managing the monetary possessions

of an enterprise. It is the proper planning, organizing, controlling, and monitoring of

financial resources for achieving goals and objectives. Examples of this are the

obtainment of funds, the utilization of funds, and other money-related activities (What is

financial management, n.d.). Lastly, time management is the ability to plan and control

how to use the hours of the day efficiently to accomplish one's tasks. This type of

management involves planning the things to be done, setting goals, prioritizing duties,

and taking into account where people spent their time on (Time management skills, n.d.).

These management skills are significant in the lives of student entrepreneurs as

these things help them run their businesses and manage their personal lives effectively.

9
Business skills and experiences influence entrepreneurship positively given the fact that

entrepreneurship requires exceptional management skills to flourish. In relation with this,

findings from a particular study established that entrepreneurs in the United Kingdom

suffer more from the lack of management skills than financial constraints (Organisation

for Economic Co-operation and Development [OCED], 2010, as cited in World Bank &

Organisation for Economic Co-operation and Development, n.d.). Even if an entrepreneur

gets access to resources, they would not be utilized effectively if the person lacks the

necessary management skills.

Management skills

In the modern times, entrepreneurship poses as a significant career option

because it allows an individual to enjoy independence, improve multiple skills, and

acquire income. For students, engaging in entrepreneurial activities while studying is a

means for them to develop various skills as they continuously involve themselves in the

events of their business. A study conducted by Ghorbani et al. (2012, as cited in Anumnu,

n.d.), confirms the existence of such. Therefore, an individual’s existing knowledge can

help them run their business and in return, allowing them to develop their entrepreneurial

skills. In the context of a student, the knowledge that they acquire from school is often the

foundation that they have in developing their own set of entrepreneurial skills, which

consists of management skills that are necessary for their business.

Student entrepreneurship in the Philippines is very common. In the context of the

Philippines, one can observe that Filipinos are highly engaged in entrepreneurial

activities. Skills that student entrepreneurs acquire while studying are more effective

because they can immediately put into action the things that they have learned in class.

10
A study conducted by Malolos (2017) states that important entrepreneurial skills can be

obtained while the students are still studying. This implies that the entrepreneurial skills

of a business-inclined individual can be acquired while they are attaining a degree in the

university.

Additionally, student entrepreneurs face the challenge of balancing school

activities and being an entrepreneur, which is difficult. That is why one must have

proficiency in management. In line with this, management skill or managerial skill is the

ability to make decisions, understand concepts, develop ideas, and implement strategies

(Managerial skill, n.d.). Agarwal (2016) lists the necessary set of managerial skills an

entrepreneur must possess. This skills include the ability to utilize limited resources

effectively, ensure effective leadership, secure a safe and healthy environment to work

in, ensure simultaneous operation of industries, create strategies to achieve business

goals, accept opportunities to boost one’s skills, use one’s knowledge to maximize

productivity and regulate competition in the market. The skills mentioned are skills that

are expected to be exemplified by any entrepreneur. Moreover, Agarwal (2016) adds that

to be able to carry out effective management, one must also be passionate and have a

vibrant-personality, ready-to-go attitude, be able to reflect upon oneself, show flexibility,

relies on one’s belief, can manage money properly and has an extensive network of

connections.

Furthermore, according to Dinkel (2011), prioritizing helps a person identify the

most important task and guide to move closer towards their goals. Prioritizing is also one

effective way to make sure that deadlines are met without having to handle so much

stress. Entrepreneurs often fail at effective prioritizing because they do not see the bigger

11
picture, the end goal of their actions (Johnson, 2015). An entrepreneur’s decisions must

contribute to the achievement of his/her goals for his/her business.

Furthermore, a study conducted by McQueary (n.d.) states that being an

entrepreneur means you are your own manager and an entrepreneur should be able to

effectively manage people, budget, operations, and in some instances, investors. In line

with this, McQueerey (n.d) also stated that a successful entrepreneur must know how to

use his time efficiently and prioritize his tasks in order of relevance and importance. A

student entrepreneur must know what to prioritize and determine what is more important

in order not to overlook small problems.

In addition, according to Drennan, Kennedy, Renfrow, and Watson (2016),

students with role models found themselves thinking that creating a business is more

probable as opposed to students without role models. These role models may also refer

to the people who have influenced the management practices of student entrepreneurs

as well as the people who might have influenced them to start a business.

Strategies

In establishing one’s own business as a student entrepreneur, one will face many

obstacles. Being a student and an entrepreneur at the same time is challenging since one

must balance their studies, business, and their personal lives. Granted that, the journey

trekked by a student entrepreneur is one that is faced by challenges that requires different

strategies and techniques to overcome such difficulty. Even though it may be difficult and

tough for student entrepreneurs to stay motivated and inspired, one should always keep

in mind that they should remember their vision and stay on course. Hence, a student

12
entrepreneur should develop a list of strategies to manage his/her own business properly.

A strategy is a method devised to achieve success (Strategy, n.d.).

According to Zent (2013), there are five notable lessons that best served her along

her entrepreneurial journey. One must keep in mind that the lesson an individual learns

overtime are the foundation of the strategies that he/she eventually uses throughout

his/her life. The first lesson that served her as an entrepreneur, that can be applied by

any entrepreneur in his/her endeavor, is to stay focused. A student entrepreneur is still a

young, amateur and unseasoned businessman, which means that they have high

tendencies to be indecisive and can frequently change their mind in planning and running

their business. When starting a new venture, the most important thing an entrepreneur

must remember is to focus and be consistent in their end goal. However, this does not

mean that an entrepreneur will close his/her doors permanently for the possibility of

adapting to the various changes that his/her business will encounter. An entrepreneur’s

goal should not be compromised by the changes that occur among the business’s internal

and external environment. Adapting to one’s surroundings should be acknowledged, but

one must keep in mind that adaptation does not mean total demolition of one’s original

goal.

Furthermore, the second lesson that every entrepreneur must practice is the ability

and power to build the right team. Zent (2013) believes that the most important experience

she encountered was working with people she trusts. In like manner, the third lesson is

not to be afraid of change. "There are many roads that can lead to the same destination,”

Zent (2013) states. “So stay flexible." Flexibility is critical in handling business for being

flexible means having the ability to adapt with ease to different scenarios. Such a concept

13
may be connected to one’s ability to manage a business properly. Being able to handle a

business effectively does not only focus on the entrepreneur’s activities as a businessman

but also recognizing the reality that he is a human and has personal matters to attend.

Effective business management can be achieved when an entrepreneur executes proper

coordination of his business life and personal life.

Moreover, the fourth lesson that is also helpful in establishing your own business

is to ensure the right funding. Correspondingly, proper funding and resources are crucial

in starting a business. Funding is necessary for the survival of developing a new venture.

It also a key strategy for an entrepreneur to know the precise amount he needs to start

his business. Whisenhunt (n.d., as cited in Concepcion, 2011) emphasizes that young

entrepreneurs, like student entrepreneurs, should learn how to start small. She states that

a new entrepreneur must start from the bottom to the top and not the other way around.

Such a technique mentioned by Whisenhunt involves doing activities for your business

step by step so as not to put everything you have at hand on high risk. This technique is

very much applicable to student entrepreneurs who often have very idealistic concepts.

They must understand the importance of knowing what to do and what not to do.

Finally, the fifth and last lesson is for an entrepreneur to believe in their capabilities.

Zent (2013) asserts that an entrepreneur should stay positive even though they face

tough situations. There are ups and downs in owning a business, and it is inevitable.

Entrepreneurs should believe in their vision. One should not be afraid of failure for it is

only one of many obstacles an entrepreneur will face on their way to success.

On the other hand, an entrepreneur must have a set of goals with specific

objectives. Objectives additionally give you a system inside on which to work. This tends

14
to center your endeavors by helping you decide out activities that won't add to

accomplishing the objectives you've set. The factors to consider in defining your

objectives is income, lifestyle, sort of work, and inner self-gratification (Goal Setting

Definition - Entrepreneur Small Business Encyclopedia, 2018).

Just like any entrepreneur, student entrepreneurs also gather their business ideas

from external factors. The most common idea source for business originates from

customers - listening to customers. That is something we should do ceaselessly, with a

specific end goal to comprehend what customers need, where they need it, how they

need it, when they need it, and at what cost (How Entrepreneurs Identify New Business

Opportunities, 2018).

Proper time management is also an important feat for any student entrepreneur.

Learning to take good control of your time can improve your ability to focus on things, and

with increased focus comes enhanced efficiency to do the tasks needed to be done,

because you don’t lose momentum. It also stated that good time management skills can

help you accumulate extra time (Appointment Plus, 2018). Having extra time leads to be

engaged in proactive behavior, opportunities and originating action that can be a great

way to solve problems and initiate actions to lessen the burden and workloads of the

student entrepreneur. It helps to produce imaginative or unique response to a problem.

(University of Nottingham, 2016) The student entrepreneur can find accurate and

corrective actions that befits the situation instead of rushing the process and not do

anything about it.

People often preconceive that an individual can start a business when he or she

graduates, but the students of this generation prove this stigma wrong (Ji, 2017). Lots of

15
student nowadays start up either manage small or large businesses and doing this while

also accomplishing tasks as a student is really challenging on their part. Selecting the

right manufacturer/ maker is saving a student entrepreneur from a tremendous amount

of headache (Christopher Hann, 2012).

Challenges

Entrepreneurs are expected to face a lot of challenges in the corporate world; this

implies a tough challenge if the entrepreneur is a student, who is getting a degree in the

university while managing his own business with no entrepreneurial experiences.

According to Venturewell (2016), there are five challenges faced by student

entrepreneurs based on the students they’ve interviewed during their Venture

Development Training in Cambridge, Massachusetts. One of these challenges includes

balancing school with a venture. Owning and managing a business is already a time-

intensive job, so trying to balance the three aspects of one’s life, his/her business, school,

and personal activities, is a major challenge for a student entrepreneur. Students find

themselves trying to please their customers while trying to get good marks at school but

according to a dissertation written by Blajin (n.d), this is the cost that student

entrepreneurs take upon themselves to convert an opportunity or idea into a profitable

business. Furthermore, Venturewell (2016) also establishes that getting funds or capital

is also one of the challenges faced by student entrepreneurs since they are still finding

their way to make and earn money from their hard work.

Yates (n.d, as cited in George, 2011), stated in an interview that students venturing

into the entrepreneurial world battle with fear: fear of failing, fear of losing money invested,

and fear of being embarrassed. Also, Blajin (n.d) points out that people tend to care about

16
what other people think about them which also applies to student entrepreneurs as they

are humans too. He stresses that entrepreneurs fear to give it a shot because of the

feedback they might get and to some extent, failing at something may affect the student

psychologically as he/she could think that they do not possess the skills required to be

successful. Yates (n.d, as cited in George, 2011) also mentioned that even if students

can battle this initial fear and decide to push through with their ideas, certain businesses

require financial assistance to get started. With no financial aid, many students tend to

quit their business plans even before they take the first step. To make matters more

complicated, student entrepreneurs often have conflicted decisions between their

business plans and their student life. This because trying to run a small business while

completing assignments and studying for exams entails real perseverance and

determination (Yates, n.d. as cited by George, 2011).

Being a student entrepreneur is not easy, thus it is important for any entrepreneur

to stay motivated. Every person will have to face struggles and challenges and they may

use these as a motivation to improve. According to Kirkwood (2009) and Charles and

Gherman (2013), as cited in Fatoki (2014), motivations can be classified under push and

pull factors. Pull factors are those that influence that pull people towards entrepreneurship

and push factors are those that characterized by personal or external factors. Pull factors

are those motivators related to opportunity and superior needs. These include

independence, personal growth, self-fulfillment, and social status.

According to Sugiarto, Samtani, Amaris, Kumar (2014) there are five problems that

student encounter during their entrepreneurship projects. These five problems that

17
students face in their business are financial problems, management problems, marketing

problems, production problems, and technology problems.

In addition, a student entrepreneur may encounter various criticisms throughout

the course of his/her venture. According to Eric Gordon (2017), as an entrepreneur builds

his/her brand, he/she should ensure that to put the customers first, offering them with

them quality products and ventures that make them unique compared to their competitors.

An entrepreneur should welcome all complaints and comments and do all the necessary

actions to response to them. However, an entrepreneur should see criticism as an

opportunity to improve. It will give the entrepreneur a chance to evaluate their ways and

be creative in creating new approaches to respond to the criticisms. An entrepreneur

should be able to use the feedback to adjust and develop their business (Goodman,

2012).

Synthesis

The related studies presented in this chapter consisted mainly of time and resource

management abilities, strategies and techniques used, the challenges faced by student

entrepreneurs. This chapter started by giving definitions of the two significant key terms

of this study. Student entrepreneurship is defined based on the basic definition of

entrepreneurship provided by Cambridge dictionary stating that it is a skill to start a

business and the ability to utilize and recognize new opportunities. Additionally, student

entrepreneurship is also described by Bailetti (2011) as the usage of university knowledge

to identify different opportunities and develop and operate new ventures to exploit them.

To put it directly, student entrepreneurs take advantage of their school environment to

position their business effectively.

18
 On the other hand, management is the organization and the coordination of the

activities of business for the achievement of the desired objectives (Management, n.d.).

In this chapter, we, the researchers, recognized three types of management that are

within the scope of the study namely; resource management, financial management and

time management. First, resource management is the acquisition and utilization of

resources required to deliver the work to be done (Association for Project Management,

n.d.). Second, financial management is managing the monetary possessions of an

enterprise. It is the proper planning, organizing, controlling, and monitoring of financial

resources for achieving goals and objectives (What is financial management,

n.d.). Finally, time management is the ability to plan and control how to use the hours of

the day to accomplish one's tasks efficiently (Time management skills, n.d.).

The related studies of this chapter are focused on presenting studies that can

provide answers and findings that are close to the possible solutions to the research

questions of this study.

First, we looked into the management practices of the student entrepreneurs. A

study conducted by Anumnu (n.d.) states that an individual’s existing knowledge can help

them develop entrepreneurial skills which consist of management skills. For students,

engaging in entrepreneurial activities while studying is a means for them to develop

various skills as they continuously involve themselves in the events of their business.

Additionally, a study conducted by Malolos (2017) states that the importance for

entrepreneurs to have the needed skills must be done while the students are still studying.

It implies that the entrepreneurial skills of a business-inclined individual can be acquired

while they are attaining a degree in the university. Moreover, Agarwal (2016) asserts that

19
to be able to manage one’s business effectively, entrepreneurs must not only possess

the necessary management skills but also should embody characteristics to express

passion for one’s business endeavors. McQueary (n.d) also stated that a successful

entrepreneur must be able to make wise decisions about how he uses his time, continually

evaluating and prioritizing tasks according to relevance and importance.

Second, we also looked into the strategies that student entrepreneurs utilize to run

their business. According to Zent (2013), there are five lessons that best served her along

her entrepreneurial journey which can simply become a pattern for student entrepreneurs

to create their strategies and techniques. These lessons are namely; staying focused,

building the right team, embracing change, ensuring proper funding and believing in one’s

self.

Third, we looked into the challenges that student entrepreneurs face. According to

Venturewell (2016), there are five important challenges faced by student entrepreneurs

based on the students they’ve interviewed during their Venture Development Training in

Cambridge, Massachusetts. One of these challenges includes balancing school with a

venture. Owning and managing a business is already a time-intensive job, so stabilizing

the three aspects of one’s life, his/her business, school, and personal activities, is a big

challenge for a student entrepreneur. Also, Venturewell (2016) also establishes that

getting funds or capital is also one of the challenges faced by student entrepreneurs since

they are still finding their way to make and earn money from their hard work. Moreover,

Yates (n.d, as cited in George, 2011), stated in an interview that students venturing into

the entrepreneurial world battle with fear: fear of failing, fear of losing money invested,

and fear of being embarrassed. Also, Blazin (n.d) points out that people tend to care about

20
what other people think about them which also applies to student entrepreneurs as they

are humans too. Finally, Sugiarto, Samtani, Amaris, Kumar (2014) presents five problems

that student encounter during their entrepreneurship projects. These five problems that

students face in their business are financial problems, management problems, marketing

problems, production problems, and technology problems.

In conclusion, the researchers, have noticed that the studies conducted regarding

the management skills of student entrepreneurs chose to delve deeper into the sources

of the student entrepreneurs’ management skills as well as how they were able to develop

such skills. What our study aims to gather, however, is the precise actions of student

entrepreneurs’ management practices. In line with this, we also recognize the fact that

there is a limited amount of studies conducted on the strategies on how student

entrepreneurs deal with external factors that they encounter during their business.

Granted that, it is this study’s purpose is to gather the necessary data to give additional

information to such gaps in the related studies presented in this chapter.

21
 CHAPTER 3

METHODOLOGY

Research Design

This study employed the phenomenological design under qualitative approach in

which we utilized the participants’ lived experiences to collect as well as analyze the

necessary information for the accomplishment of the goals of this study.

Qualitative research refers to a variety of approaches that aim to generate a

comprehensive understanding of the social world by seeking to learn about people's lived

experiences (Kemparaj, Chavan, & Sangeeta, 2013). Furthermore, according to Creswell

(2011), in gathering data for this kind of research, the researchers collect data, which may

be in words or images, for learning about the participants. In qualitative research,

researchers ask general questions that focus on a single idea so that the participants can

provide answers to the questions and freely shape their responses. From this, the

researchers will describe the data using different themes and text analysis and interpret

what the descriptions mean. Reporting this kind of research can be done using a wide

range of formats.

The phenomenological research design refers to the study of personal experience

which requires a description or interpretation of the meanings of a certain phenomenon

the participants have experienced (Padilla-Díaz, 2015). In this study, we, the researchers,

described the experiences of the selected participants by conducting profound interviews

and follow-up questions to acquire an in-depth understanding of their experiences as

student entrepreneurs.

22
 This study made use of the phenomenological research design as it explored the

experiences of different student entrepreneurs regarding the management of their

businesses and the different challenges they face in their lives as both students and

entrepreneurs. The phenomenological design was applicable in this study because it

focused on the lived experiences of a particular group and it sought to describe a

particular phenomenon, the group being the student entrepreneurs (Creswell, 2011).

Research Participants

According to Sargeant (2012), the subjects involved in a qualitative research’s

sample must have the ability to impart important aspects, outlook, and information that

are interconnected to the phenomenon being studied. In this study, the participants were

Ateneo de Davao University’s senior high school and college students. Furthermore, the

participants were chosen through purposive sampling to guarantee that the fundamental

data that the researchers will need will be given as needs be. According to Crossman

(2018), a purposive example is a non-likelihood test that is chosen in view of attributes of

a populace and the target of the investigation. Purposive inspecting is otherwise called

judgmental, particular, or abstract examining. Sargeant (2012) states that the sample size

depends on how many can fully inform the researchers about all the relevant factors in

the phenomenon being studied. However, according to Creswell (2007, as cited in

Hadzilias 2011), there should be 5-25 participants in an interview and that these

individuals should have experienced the phenomenon being studied. With all these

criteria given, we, the researchers selected seven student entrepreneurs from Ateneo de

Davao University. This sample size was determined with regards to the availability of the

participants. The student entrepreneurs chosen knew the basics of entrepreneurship and

23
had sufficient expertise and experience in entrepreneurship. All these qualifications were

used in selecting the participants to make this study reliable and accurate.

Role of the Researcher

The role that, we, as researchers played in qualitative research was attempting to

access the thoughts, feelings, and experiences of the study participants (Sutton, & Austin,

2015). Therefore, in this phenomenological study, we deliberated the rationale of our

research by interviewing student entrepreneurs in order to know and identify their skills

and strategies and to be able to understand the different challenges they faced and how

they overcame it. We also obtained more information through interviewing different

student entrepreneurs to disseminate their different skills on handling their own

businesses. Correspondingly, we guaranteed the consent and privacy of the participants

and adequately informed them of their participation and role in the study. Additionally,

relevant journals, articles, documents and books were used as supporting literature of

this study. In this manner, the data gathered was the foundation to answer the research

questions. Finally, we reviewed and interpreted the data gathered from the interview to

accomplish the study. Data transcription was done by converting the data gathered into

textual form through the proper utilization of available software to help the researchers

maintain order and organization through the data analysis process.

Data Source

There are various ways of data collecting method that are utilized in qualitative

research. However, the most commonly used methods are interviews, observations, and

document review (Creswell, n.d. as cited in Dave, 2013; Data Collection Methods, n.d.).

Interviews are a qualitative research technique which involves performing intensive

24
individual discussions with a small number of participants to delve into their perspectives

and ideas about a particular subject (Boyce & Neale, 2006 as cited in Interviews, n.d.).

Moreover, there are three different formats of interviews namely: structured, unstructured,

and semi-structured. On the other hand, observations are a systematic data collection

approach where the researchers employ the use of their senses to study people in their

natural environments (Cohen & Crabtree, 2006). The types of observation methods are

participant and non-participant. Finally, document review is a data collection method that

involves going-over existing documents, literature and studies in relation to the subject at

hand (Document review definition, n.d.).

In this study, we, the researchers, used a semi-structured interview as the method

for collecting data from the senior high school and college students of Ateneo de Davao

University. A semi-structured interview follows a prepared outline of questions to be asked

to the interviewee but allows, us, the interviewer to present follow-up questions. Using

this method, we gathered the live experiences of student entrepreneurs and their

management skills. Furthermore, an intensive document review was done to provide

relevant support and literature to the findings of the study. Therefore, this study utilized

both primary and secondary sources.

Data Collection

In the beginning of this research, we gathered articles, journals, and books that

are related to the management skills of student entrepreneurs. The documents gathered

were from different credible and reliable websites. These documents provided initial

information about student entrepreneurs that can be used for this study. An interview is

the recording and analyzing of the opinions, experiences, beliefs, and ideas of a person

25
on a relevant topic which gives a profound insight into the social phenomena (Gill,

Stewart, Treasure, & Chadwick, 2008 as cited in Parveen & Showkat, 2017). In line with

this, we used in-depth semi-structured interviews with the college and senior high

students of Ateneo de Davao University that have experiences in running a business.

According to Ben McCamon (n.d. as cited in Keene n.d.), semi-structured interviews are

used to collect focused, qualitative data which gives flexibility of an open-ended interview

while still focusing on the topic. The interview was semi-structured and aimed to identify

the participant’s experiences and skills regarding the said study. We, the researchers,

made a set of questions prior to interview. However, we were not restricted to ask follow-

up questions for the interview to appear conversational while making sure to collect

reliable and comparable qualitative data. During the interview, one of us which served as

the interviewer asked the questions and recorded the answers using a phone recorder to

acquire an accurate record of the interview. Thereafter, the data collected was saved for

review and further analysis.

Data Analysis

The data extracted from the respective respondents was scrupulously analyzed

and subjected to thorough comprehension by us. This was essential in order to find a

pattern or a scheme in the responses of the student entrepreneurs on their time

management skills that might prove useful for the overall conclusion and context of the

research. It was also important to keep track of this pattern to spot a deviation or an

atypical response that might arouse new ideas and concepts and how it will broaden the

vision for the study. The data was based on the respondents' experience, perspective,

and statement of opinions and was not changed or manipulated in its context. We used

26
a deductive approach which involves using the research questions of this study to analyze

the data more effectively (How to effectively carry out a qualitative data analysis, n.d.).

Moreover, the data collected was analyzed through thematic analysis where we identified

major themes based on the repeating patterns observed from the data gathered.

Trustworthiness of the study

Trustworthiness is referred as something deserving of one’s trust and confidence,

it is the ability to be reliable (Trustworthiness, n.d.). However, in a qualitative study,

trustworthiness is an umbrella term for four specific components namely: credibility, which

refers to the researcher’s confidence on the reliability of his/her study; transferability,

which refers to the applicability of the study in other contexts; confirmability, which is the

degree of objectivity in the research and dependability, which is the consistency of the

findings if it were to be conducted by other researchers (Olivia, 2018).

Credibility. Credibility is often referred to as the parallel criteria of internal validity

of Lincoln and Guba (1985). Cook and Campbell (1979, as cited in Lincoln & Guba, 1985)

refers to internal validity as “the approximate legitimacy with which we infer that a

relationship between two variables is causal or that the absence of a relationship implies

the absence of a cause.” Granted that, findings are held credible if the research is done

right and if the data collection and analysis method ultimately avoid the confoundment of

the findings. Therefore, we ensured that the references used in this study were validated

by those of authority. The researchers also made sure that the data collection done will

accomplish what it was intended to. Furthermore, we ensured that the data presented in

the study was the exact replica of the raw data gathered. Additionally, analysis of such

27
followed a set of criteria that led to the addition of valuable information relevant to the

study.

Transferability. Transferability is the described as the parallel criteria of external

validity. According to Cook and Campbell (1979, as cited in Lincoln and Guba, 1985),

external validity is "the approximate validity with which we infer that the presumed causal

relationship can be generalized to and across alternate measures of the cause and effect

and across different types of persons, settings, and times.” With that said, external validity

refers to the applicability of the study to other setting, people, and times. Moreover,

transferability is established by presenting evidence that the study’s findings could be

applicable to other contexts (Olivia, 2018). Therefore, in line with the objectives of this

study, we are hoping that the data extracted from this research will provide a pattern for

the study’s future readers to use as a guide in terms of generating more useful

management practices, strategies, and ways to cope up with challenges. We also hope

that such information will not only be applicable to one’s business ventures but also in the

other aspects of his/her life. In this way, the results and findings of this study are relevant

enough to be able to apply in other contexts.

Confirmability. Confirmability refers to the degree of neutrality of the researcher in

his/her study. In other words, confirmability also refers to objectivity. According to Lincoln

and Guba (1985), objectivity is observed in the study when the right and accurate

methodologies are used to analyze the data. When imperfect methodologies are not

utilized, this can threaten the objectivity of the study. Hence, we assured that no data

manipulation was done in order to make the information favor a positive result for the

analysis of data.

28
 Dependability. Dependability is defined as “the stability of data over time, and over

conditions” (Dependability in Qualitative Research, n.d.). Furthermore, dependability is

also deemed as synonymous to reliability. Reliability is threatened by any careless act in

collection and assessment of data (Lincoln & Guba, 1985). Given that no such

manipulation will be done to make the results favor to one side, it is assured that nearly

similar results will be extracted should the study be conducted again.

Ethical Consideration

In conducting research, the following ethical considerations must be accounted for,

namely: voluntary participation, informed consent, avoidance of risk of harm, and

confidentiality (Trochim, 2006). In this study, we did not force the people to participate in

the research. If they did not wish to participate, they had the right to decline and we did

not use this against them. Second, we considered the principle of informed consent in

which the participants were informed beforehand of all the risks and processes involved

in the research. A formal letter was presented to them, containing all the details relevant

to interview to be conducted. In addition, the we dutifully observed objectivity when

gathering the responses of the participants. We respected any statement given by the

participants and no form of influence was done to manipulate any of the participants’

responses. Third, the participants were not put in situations that can put them at risk of

harm to ensure their safety. We, the researchers, and the participants practiced formality

and respect and effectively avoided any potential physical and psychological risks.

Confidentiality was also practiced by assuring the participants that personal information

about them will not be revealed to the public for the protection of their privacy. Granted

that, we did not record information that were directly related to the participants, which

29
might result to their unintended identification (Understanding anonymity and

confidentiality, n.d.). Rest assured that this study only recorded pure findings and did not

give out any unnecessary personal information of the people involved.

30
 CHAPTER 4

Presentation of results

In this chapter, the lived experiences of student entrepreneurs will be presented

per research question. From the results, several themes and ideas will be interpreted and

discussed. In addition, related literature and the responses gathered from the participants

will be used to back up the drawn themes.

The management practices of student entrepreneurs.

The first research question of this study is regarding the management practices of

student entrepreneurs. The following tables show the major themes and core ideas drawn

from the lived experiences of student entrepreneurs’ time management practices,

financial management practices, the balance done by student entrepreneurs between

their business and personal lives, and the influences on student entrepreneurs’

management techniques respectively. These tables are then followed by the verbal

presentation of the major themes of the first research question.

Table 1. The management practices of student entrepreneurs

Major themes Core ideas/Responses

Prioritizing the business activities over ● Prioritizing the business because

other activities the weight of the business is

heavier

● Putting the business over

academics

● Separating business from personal

life

31
 Proper allocation of the income ● Dividing the income to savings,

bills and expenses

● Dividing income into specific

percentages

● Separating the profit from the

capital

Being influenced by role models ● Mother has office, business and

other sidelines and has an

experience in management

● Mother managed the store when

the student was younger and

manages family budget

● Mother started the business and

encouraged the student to be like

her

Prioritizing business activities over other activities. The first major theme

implies that there are student entrepreneurs who prioritize their business-related activities

over their non-business and academic related activities by doing the things necessary for

their business first before doing anything else. This is manifested in the following

statements of our participant which states are:

“I manage... Gina-manage ko ang time ko like parang... mag ano ako na

priority ko ang business. At the same time, parang like, multitasking gud

32
 siya. At the same time I'm doing my business, at the same time I'm doing

my stuffs in academics. Parang ganun talaga parang like, important sila

both, pero like parang gawin mo pa rin both, pero mas important lang ang

business, ganyan ang time.” (Participant 1)

(“I manage my time in a way that I prioritize my business. I do multi-tasking.

I am doing my business and at the same time, I am doing my academic

stuff. It’s really like that; they are both important and you need to consider

both of them, but the weight of the business is heavier.”)

In addition, this can also be observed in the statement of Participant 3:

“I put my business over academics… I make sure that the orders get

delivered and I prepare the right orders and even if that means

compromising my first subject which… usually isn’t a subject I’m interested

in... I go for my money… my business.”

(“I put my business over my academics. I make sure that the orders get

delivered and I prepare the right orders even if it means compromising my

academics.”)

Furthermore, this is also evident in the response of Participant 5:

“Well since I am a student entrepreneur, I make sure that I balance my time

well. So in the morning I do acads and in the afternoon when I get home I

tend...ay since I am a student entrepreneur I tend to check my facebook

account since I used Facebook as a tool in my business. So if I go home I

check it. I post. I post the products that I sell and then.. yun gina manage ko

33
 talaga ang time well ko para hindi gud mag conflict ang aking acads and

yung business ko.”

(“Well since I am a student entrepreneur, I make sure that I balance my time

well. So, in the morning I do acads and in the afternoon when I get home I

tend to check my facebook account since I used facebook as a tool in my

business. I really manage my time well so that there will be no conflict

between my acads and business.”)

Proper allocation of the income. The major theme on the student entrepreneur’s

financial management is the proper allocation of the income to savings, revolving fund,

and expenses incurred through the course of the business. This is evident in the following

statements:

“Uhm, gina manage ko finances bale 50-50. Yung 50% is dun lang sa

business tapos yung isang 50 is gina hati ko pa sa 20-30. Yung 20% is yun

na ang pambaon ko, yun na ang pamasahe ko, tapos ang 30 kay ibigay ko

sa mama ko.” (Participant 2)

(“The way i manage my finances is by dividing my income by two equally.

The first 50% of my income, i allot it solely to enhance my business. The

other 50%, i divide it further into 20% and 30%. In this way, i can have the

20% for my personal expenses and give the 30% to my mother.”)

Participant 1 also mentions:

“Sa finances ko, ehh, finance ko... Gina ano ko siya, gina... gina... allot...

May budget ako each ano ko, like, for example, sa finance, sa earnings ng

business ko, ginadivide ko yan siya sa cap, sa capital para makabili ulit ng

34
 product, ay ng mga kailangan for the business. Saving. Mag save ako

tsaka... sa mga kailangan ko ba-bayaran na bills kasi ako nagabayad man

ako ng bills ko, tapos.. tsaka ano ko, allowance ko like parang panggastos

ko, yang apat na yan, sa capital sa business, sa... tawag nyan, sa pagsave

ko, magsave ako, tapos sa bills, atsaka sa mga allowance ko na paggastos

ko.”

(What I need for the business. Second, I allot money for my savings. Third,

I use part of my earnings to pay the bills because I have bills to pay. Last is

my allowance for my expenses. I divide my earnings by those four: the

capital for my business, my savings, my payment for my bills, and my

allowance for spending.”)

Participant 5 also stated that:

“Well I manage my finances well kasi when I have my profit I divide it by..

divided by two so yung bigger na amount na ma use ko kunwari paano ko

siya ma explain..so kunwari.. ok lang?.. So diba ano… I sell ano.. kasi I

don’t sell food, I sell products na useful gud like much useful like shoes,

bags, etc.. to students. So ang finances ko is the profit or the ano ba.. the

capital, the profit that I earned. I-separate ko siya sa aking allowance. So

separate ang aking allowance sa aking capital so that the capital or profit

na ma-use na..na..na earn ko sa product, I will use it to buy products na

gibenta ko na gibili ng customers ko.”

(“Well I mange my finances because when I have my profit I divided it by

two. The bigger amount that I used...wait how to explain this. because I

35
 don’t sell food, I sell products that are useful…much useful like shoes, bags,

etc. to students. So my finances are the profit or the capital and the profit

that I earned. I separate it from my allowance. So my allowance and capital

are separated from each other so that the capital or the profit that I will earn

I will use it to buy the products that I sell that my customers buy.”)

Role models. Lastly, the third major theme for the first research question is

regarding the influences on the student entrepreneur’s management techniques. Most

student entrepreneurs are influenced by their parents’ management techniques,

especially if they are also entrepreneurs themselves. This can be observed in the

following statements:

“Well I got it from my mom kasi my mom started this business. She told me

na “nak why not use..why not be like me, why not sell to your classmates?”.

So, this management technique is…I got it from my mom.” (Participant 5)

(“Well I got it from my mom because my mom started this business. She

told that why not to be like her and why not sell to my classmates. So I got

this management technique from my mom.”)

In addition, Participant 1 also mentioned:

“Ano lang sya mag yang parang experience like parang trial and error lang

talaga sya kasi at first kay ano lang man yan parang ma ano mo lang gud

yan malabas mo lang yan ba na, ah kailangan ganito. Kasi nakaexperience

ako ng ganito hindi ko siya na manage ng ganyan, so magcome up ako ng

other strategies. Ang maka-influence din sakin kay mom ko, kay si mama

36
 din kasi kay, may office tas naga business and may sidelines so parang ano

siya management siya.”

(“I honed my management technique with experience. It’s just trial and error

because at first, you will be the one to figure things out, like, for example,

“Oh, it needs to be done like this”. When I did something and it did not work

out, I come up with other strategies. My mom also influenced me a lot

because she has an office, has a business, and has her own sidelines so

she has an experience with management.”)

This can also be observed in the response of Participant 2:

“Yung nag influence sakin is yung mama ko kasi yun nga naga bantay siya

samin nung bata pa kami tapos yang may tindahan tapos may ano pa, siya

ang naga manage ng pera sa bahay. Nung nakita ko yung pano niya

ibalance ang pera para sa pamilya at yung pera para lang sa business.”

(“My mother influenced me the most. When we were younger, she was the

one who managed our store and even today, she manages the money for

our family. From her, I learned how to divide the money for personal use

and for the improvement of the business.”)

The strategies of student entrepreneurs.

The second research question of this study pertains to the strategies done by

student entrepreneurs in running their business, the considerations they take in relation

to their business, how they handle the external factors that they encounter during the

course of their venture, and whether they pattern their strategies from other

37
entrepreneurs. The following tables present the major themes of the subtopics

respectively.

Table 2. The strategies of student entrepreneurs.

Major themes Core ideas/Response

External Considerations ● Target goals by doing things that

are needed to do in order to reach

it

● Consider the preferences of

customers about the quality and

price of the product

● Consider the right timing to sell the

products to your target market

Activity rather than passivity ● Improvisation and uniqueness of

the product from others

● Focus on current problems and

responsibilities

● Look for solutions

Estimating the quantity of production ● Avoid overproduction of products

to avoid loss

● Hire people who can make your

products for you

38
 ● Buy ready-made products and sell

it

External considerations. The first major theme for the second research question

indicates that student entrepreneurs take various considerations in their personal life as

well as other aspects of their lives before they venture fully into their business. Moreover,

student entrepreneurs also consider the demands that the product has, as well as the

demands of the customer. This is evident in the following statements:

“Well since yun nga student-friendly, dapat yung price ko…so I consider my

customers. So if yung students ang customers ko I consider the price na

dapat like ma afford lang nila and yun nga yung products na gina-sell ko is

useful gud sakanila and need nila para they will find time or will have

parang…they will be encourage to buy the product.”

(“Well, it should be student-friendly. It should be affordable and the

products that I sell are useful to them, to the point that they need it so that

they will be encouraged to buy the product.”)

This can also be observed in the response of Participant 3:

“I consider targeting my goals for the month and making sure I hit them by

doing the things I need to do.”

(“I also consider targeting my goals for the month and making sure I reach

them by doing the things I need to do.”)

39
Additionally, Participant 7 also mentioned:

“Kuan.. since I sell chocolates to stressed students.. usually during class

hours talaga siya.. during class hours or lunch break.. kung nasestress na

yung mga students.. yung mga customers ko ganun..”

(“I usually sell chocolates during class hours and lunch break only.”)

Activity rather than passivity. This major theme refers to the strategies that

student entrepreneurs do in order to overcome the external factors that they face

throughout the course of their business. Such external factors often refer to the things

that they encounter in their external environment, like the demands of their customers as

well as the demand of their business in their personal lives. Student entrepreneurs often

choose to take actions to respond to these external factors rather than simply ignoring

them. This evident in the following responses:

“Ah ganyan… same ng ginabenta… like ano… you improve more on your

business, find… find ways to.. to make your business unique, make.. make

your product more unique to the other.. other competitors like maggawa ka

ng pakulo, like ano, tatlo.. tatlo ten, mga ganyan tapos ano din.. pasarap-

mas pasarapin mo tsaka… and your ano.. convincing skills.. sales per-

tawag niyan? Parang… Sales talk, ganyan.” (Participant 1)

(“Improve more on your business, Find ways to make your business unique.

Make your product more unique than other competitors. For example, make

gimmicks, like “buy three for ten pesos”. Make it more delicious and practice

your convincing skills, your “sales talk”.”)

40
Participant 4 also stated that:

“Syempre dapat naa man jud kay own strategy jud pero naa man jud nay

kuan kanang sa imong competitor naa man jud moy magcommon na

strategy kay di man jud na siya maiwasan nya ikaw mangita lang jud kag

strategy na kuan lahi sa imong competitor.”

(“There are times that we really can’t avoid having the same strategy with

our competitors. You just really have to find ways to make your strategy

different and effective from the others.”)

This can also be observed in the response of Participant 3:

“I make sure to pay attention in class so I don’t have to study so much when

there are academic activities that need to be done. In my business, I just try

to be a firefighter and look for solutions when there are problems instead of

just dwelling on them.”

(“In my business, I just try to be a firefighter and look for solutions when

there are problems instead of just dwelling on them.”)

Estimating the quantity of production. This theme refers to the strategies of

student entrepreneurs on effectively running their business, especially with the

considerations that they take in their day-to-day lives for their businesses. Student

entrepreneurs who make their products out of raw materials often estimate the number

of products they will produce for that specific period of their business. However, student

entrepreneurs who do buy and sell still need to estimate the number of products they will

buy for reselling. One of the participants stated:

41
 “Kuan lang.. tama tama lang gyud.. munchkin tapos chichacorn. Oh ako

nagagawa, ako nagagawa tas kanang chichacorn ginakuan lang nako buy

and sell.. yung ganun ba.. repack, repack.” (Participant 4)

(“I sell munchkins and chichacorn. I make the munchkins and then sell it. I

buy the chichacorn, repack it, and then it’s ready to be sold.”)

This is also evident Participant 3:

“I have people who make my munchkins for me but I’m the one who delivers

the deliveries… also for my make-up I plan my absences so if there’s a

client on that day and I don’t have any quiz or an exam that day then I would

make sure that I attend to the client even if I miss a class.”

(“I have people who make my munchkins for me but I’m the one who

delivers the orders. Also for my make-up business, I plan my absences so

if there’s client, I can plan properly how I’m going to attend to that client.”)

Additionally, Participant 4 mentioned:

“Kanang chichacorn ginakuan lang nako buy and sell.. yung ganun ba..

repack repack.”

(“I buy the chichacorn, repack it, and then it’s ready to be sold.”)

The challenges faced by student entrepreneurs.

Finally, the third research question of this study is concerned with the challenges

faced by student entrepreneurs. The tables below will present the major themes and core

ideas gathered regarding the types of challenges faced by student entrepreneurs, how

they cope with these challenges, what motivates them to get through these challenges,

42
the criticisms they face during the course of their business and how they overcome these

criticisms accordingly.

Table 3. The challenges that student entrepreneurs face.

Major themes Core ideas

Balancing school with venture ● Difficulty in proper time

management

● Figuring out priorities

Motivation to improve ● Challenges as a means to improve

● An opportunity to think of

alternatives to improve your

business

● Challenges are a part of the

journey to success

Responding positively to constructive ● Brings you to consider the physical

criticism looks of your product

● Giving value to quality of the

product over the number of

products being produced

● Makes you more open to

suggestions and opinions

43
 Balancing school with venture. Student entrepreneurs are still students; hence

they also have their academics to focus on aside from their business. Because of the

demands of these two different aspects in their lives, they often find it a challenge to

balance school with their business venture. This can be observed in the following

statements:

“Challenges kay ano… yung minsan ano.. yun nga hindi mo mauna ang

academics mo.. so at risk talaga ang academics mo pag nasa student.. pag

student entrepreneur ka.. so dapat, pag student entrepreneur ka like parang

ano ka din gud.. like academically.. parang bright ka din ba kay para ma

ano mo.. kahit.. kahit.. kahit konti na lang ang time mo, mabilis ka

makagawa so yun, challenge yan siya.. tsaka.. ano pa ba ang challenge..

challenge mo na.. tsk.. yang customers mo.. paano mo sila ma ano.. paano

mo sila mapabili mo ang product sa kanila tsaka challenge din yang..

parang sa.. yung parang ginasnob ka lang gud nila ganyan.. tas challenge

din ang competitors mo.. tsaka challenge din ang.. ang sa self mo.. kung

paano ka magplan, paano ka ma ano.. sa costing and all that.” (Participant

1)

(“Being a student entrepreneur means your academic performance is also

highly at risk. You must be really good in balancing… Your customers and

competitors are also challenges.”)

This can also be observed in the statement of Participant 2:

“Uhm, yung ginabawal na ng AdDU ang student entrepreneurs. Like, okay

ano siya, totoo siya, matakot ka na makita ka ng teacher na nagabenta ka,

44
 matakot ka na nagabenta ka, madaming factors dun. So yun yung mga first

challenge na na-face ko. Second is yung oras ko habang nagabenta and

yung time ko na magstudy and yang naga review-review lang ng ano. Sige,

sabay-sabay na!”

(“AdDU’s latest rule regarding the prohibition of student entrepreneurs

within the campus. A lot of factors go into consideration because of that

rule, like being scared a teacher will see you selling and that might get you

reported to the admin. Another challenge is the proper management of my

time between studying and reviewing for the day and actually selling my

product.”)

Motivation to improve. Student entrepreneurs face a lot of different challenges

throughout their business and they often choose to use these challenges as their

motivation not only to improve their business but also a way to improve themselves. This

can be observed in the succeeding responses:

“Well, being a student entrepreneur is hard but fun job so it motivates me to

face these challenges because it will make me to become better gud. Better

individual, a better student entrepreneur so that in the…in…in time parang

masabi ko sa sarili ko na mas magaling na gud ako ngayon, mas confident

na ako.” (Participant 5)

(“Well, being a student entrepreneur is hard but fun job. It motivates me to

face challenges because it will make me to become better. A better

individual, a better student entrepreneur so I’m looking forward for that time

when I will be more equipped and that I am more confident.”)

45
This is also evident in the statement of Participant 2:

“Kuan lang by uhm.. innovating gihapon.. oh innovation and kuan

magchange na pud kag kanang mas prefer sa uban tao.”

(“Through innovation and you must think of other ways that are preferred by

many.”)

Participant 5 also mentions:

“Well being a student entrepreneur is hard but fun job so it motivates me to

face these challenges because it will make me to become better gud. Better

individual, a better student entrepreneur so that in the…in…in time parang

masabi ko sa sarili ko na mas magaling na gud ako ngayon, mas confident

na ako.”

(“Being a student entrepreneur is hard but fun job. It motivates me to face

challenges because it will make me become better. A better individual, a

better student entrepreneur so I’m looking forward for that time when I will

be more equipped and that I am more confident.”)

Responding positively to constructive criticism. This last major theme

indicates that student entrepreneurs face criticisms throughout the course of their

business. However, student entrepreneurs often take responsive actions that are positive

to these criticisms which is another way to improve their business. This is evident in the

following statements:

“Oo, mu-ingon sila na “hala gamaya ana uy”, “cute lagi kaayo”, like, “hala,

piso lagi na”. Uhm somehow okay lang man na i-critic nila. Pagmaka, yang

makarinig kasi ako ng mga violent reaction, yun yung lakas mo para mas-

46
 iimprove mo pa gud yung product mo, para, oo, bahalag, dati, first yung

munchkin ko is gi improve ko siya into cubes. Mura siyag vita cubes. Wala,

ana lang. Improve-improve lang.” (Participant 2)

(“Yes, I do. Criticisms regarding the size, appearance, and price of my

product. But I find these criticisms useful because it is my drive to improve

my product. Example, I changed the shape of my munchkins int cubes

instead of circles.”)

This can also be observed in the response of Participant 4:

“Oh syempre naa man jud nay ing ana jud. Nay uban na muingon na ay “te

gamay lagi ni siya te” ana, naay uban na “te lahi na lagi ang kuan te lasa

ani” ana or naa man guy uban na kuan kanang.. mutan-aw sa.. how looks..

uhh.. looks sa product tapos dili pud na siya maiwasan kay ang importante

na siya samot na sa feedback sa customer para ang imong product na mas

maquality.. maka.. maquality pa ninyo siya and mas ma.. unsa ni.. mas

mainnovate nimo siya ba ug maayo kung naay feedback sa customer..”

(“We really can’t avoid criticisms in this type of field. Some students

question as to why my munchkins are small, why it tastes weird and all.

There are people who tend to look at the appearance of the product and

that can’t really be avoided. The feedbacks of my customers are important

because it’s a way to improve the quality of my product.”)

47
In addition, Participant 5 also mentions:

“Well ano…just be positive sa lahat ng negative responses na gina sabi nila

and just look for another alternative way to face or to meet their needs gud

yun lang.”

(“Just be positive from all the negative responses that they said and just

look for another alternative way to face or meet their needs. That’s it.”)

48
 CHAPTER 5

DISCUSSION AND IMPLICATIONS

This chapter will discuss the major themes and core ideas extracted from the

responses of the student entrepreneurs throughout the course of the interview. The

themes and ideas are presented with the accurate related literature.

The management practices of student entrepreneurs

The first research question of this study aims to gather information regarding the

management practices of student entrepreneurs to make sure their business is not

compromised, the management practices they to manage their finances, how they

balance their business and personal lives, and what influences their management

techniques. The follow themes are presented with related literature that are relevant to

this study.

Prioritizing business activities over other activities. According to Dinkel

(2011), prioritizing helps the person identify the most important tasks and guide him or

her in moving closer towards his or her goals. Prioritizing is also one effective way to

make sure that deadlines are met without having to handle so much stress. Entrepreneurs

often fail at effective prioritizing because they do not see the bigger picture, the end goal

of their actions (Johnson, 2015). An entrepreneur’s decisions must contribute to the

achievement of his/her goals for his/her business.

During the interview with the participants, the researchers discovered that student

entrepreneurs dedicate most of their attention to their business, eventually prioritizing

business activities over other activities, such as academic activities, in their lives.

49
 Proper Allocation of Income. Financial management is the management of the

financial possessions of a business. It involves the proper planning, organizing,

controlling, and monitoring of financial resources for the achievement of goals and

objectives. (What is financial management, n.d.) In the context of student entrepreneurs,

financial management is very essential since they mostly have limited resources.

In the interview, most of the participants focused more on allocating the income

properly to ensure the continuance of their businesses. They break down their profit into

different categories such as savings and addition to the capital.

Agarwal (2016) states that two of the many skills that entrepreneurs should

possess are the ability to use limited resources and to manage money effectively. These

two go hand-in-hand since income can be the new source of capital for the business,

hence, the income must be allocated properly.

Role models. According to Drennan, Kennedy, Renfrow, and Watson (2016),

students with role models found themselves thinking that creating a business is more

probable as opposed to students without role models. Additionally, the students mostly

nominated their family members as their main role models, followed by the students’

teachers and peers.

In the course of the interview, the participants expressed that their management

techniques were mostly influenced by their parents, particularly their mothers. Their

mothers have an experience in managing businesses and budgets and actively

encouraged their children to be entrepreneurs.

50
 The occupations of the parents have a major and direct influence on the students’

desire to become an entrepreneur. Parents who own business give their children

encouragement to start and manage their own business (Prabhu and Thomas, 2014).

Thus, they are considered to be the main influencers and drivers of students’

management practices.

The strategies of student entrepreneurs.

The second research question of this study aims to gather information on the

strategies of student entrepreneurs in running their business, the different considerations

they take in relation to their business, how they handle the external factors that they

encounter during the course of their venture, and how other entrepreneurs impact their

strategies.

External considerations. One should always keep in mind that they should

remember their vision and mission and stay on course (Strategy, n.d.). Objectives

additionally give you a system inside on which to work. This tends to center your

endeavors by helping you decide out activities that won't add to accomplishing the

objectives you've set. The factors to consider in defining your objectives is income,

lifestyle, sort of work, and inner self-gratification (Goal Setting Definition - Entrepreneur

Small Business Encyclopedia, 2018).

In the interview, most of the participants said that they consider defining their target

goals in order for them to only perform efforts which are relevant. They consider their

lifestyle, money, time, preferences, and passion when it comes to reaching goals for their

business.

51
 The most encouraging idea source for business originates from customers and

listening to customers. That is something we should do ceaselessly, with a specific end

goal to comprehend what customers need, where they need it, how they need it, when

they need it, and at what cost (How Entrepreneurs Identify New Business Opportunities,

2018).

In the course of the interview, the participants expressed the importance of their

customers’ preferences when it comes to defining their product. They said that they need

to make sure that the kind of product they are selling and its price must fit the customers’

preferences.

Activity rather than passivity. Learning to take good control of your time can

improve your ability to focus on things, and with increased focus comes enhanced

efficiency to do the tasks needed to be done, because you don’t lose momentum. It also

stated that good time management skills can help you accumulate extra time

(Appointment Plus, 2018).

During the interview, the participants said that they focus on things one at a time

in order to have extra time and spend it for business and other purposes.

Having extra time leads to be engaged in proactive behavior, opportunities and

originating action that can be a great way to solve problems and initiate actions to lessen

the burden and workloads of the student entrepreneur. It helps to produce imaginative or

unique response to a problem. (Problem solving and initiative, 2016) The student

entrepreneur can find accurate and corrective actions that befits the situation instead of

rushing the process and not do anything about it.

52
 Estimated quantity of production. People often preconceive that an individual

can start a business when he or she graduates, but the students of this generation prove

this stigma wrong (Ji, 2017). Lots of student entrepreneurs nowadays either manage

small or large businesses. Doing this while accomplishing tasks as a student is really

challenging on the part of the student entrepreneur. Selecting the right manufacturer and

maker will save a student entrepreneur from a tremendous amount of headache (Hann,

2012).

During the interview, one of the participants stated that it is better to Iet other

people make or supply the products for you since it demands less amount of time and

effort.

A student can also have access to a vast network that can help in running and

maintaining the business. Students have the amenity downtime and they must take

advantage of this situation while they can. It can be a big help to the growth of the

business (Ji, 2017).

The challenges faced by student entrepreneurs.

The third research question of this study concerns the challenges faced by student

entrepreneurs. The major themes and core ideas discussed in the following paragraphs

are regarding the types of challenges faced by student entrepreneurs, how they cope with

these challenges, what motivates them to get through these challenges, the criticisms

they face during the course of their business and how they overcome these criticisms

accordingly.

53
 Balancing school with venture. According to Venturewell (2016), there are five

biggest challenges faced by student entrepreneurs based on the students they’ve

interviewed during their Venture Development Training in Cambridge, Massachusetts.

One of these challenges includes balancing school with venture. Owning and managing

a business is already a time-intensive job, so balancing the three aspects of one’s life,

his/her business, school, and personal activities, is a huge challenge for a student

entrepreneur. Students find themselves trying to please their customers while trying to

get good marks at school but according to a dissertation written by Blajin (n.d), this is the

cost that student entrepreneurs take upon themselves in order to convert an opportunity

or idea into a profitable business.

During the researchers’ interview with a student entrepreneur, the participant

stated that a student entrepreneur's academic performance is at risk since they need to

balance their school and venture. Being a student entrepreneur is not easy especially

when you need to focus on both your business and your studies. Student entrepreneurs

should figure out which is more important to focus on. Figuring out which one is more

important is hard because when one is a student entrepreneur, both academics and

business are a priority since they need to study and earn money at the same time.

Student entrepreneurs often have conflicted decisions between their business

plans and their student life. This because trying to run a small business while completing

assignments and studying for exams entails real perseverance and determination (Yates,

n.d. as cited by George, 2011).

54
 Motivation to improve. Being a student entrepreneur is not easy. You have to

face struggles and challenges and use this as a motivation to improve. According to

Kirkwood (2009) and Charles and Gherman (2013), as cited in Fatoki (2014), motivations

can be classified under push and pull factors. Pull factors are those that influence that

pull people towards entrepreneurship and push factors are those that characterized by

personal or external factors. Pull factors are those motivators related to opportunity and

superior needs. These include independence, personal growth, self-fulfillment, and social

status.

In the course of the interview, the participants stated that challenges as a way to

improve oneself and it gives you the opportunity to become a better student entrepreneur.

It helps you think of ways to solve problems differently and look for alternatives.

Challenges as a part to reach your goal mainly earn profit which enables you to

achieve financial stability. According to Islam (2012) and Charles and Gherman (2013),

as cited in Fatoki (2014), push factors are also those motivators that are characterized by

personal or external factors which include the need to support the family with additional

income.

During the interview, the participants stated that challenges help you reach the

goal of financial stability. It helps lessen the burden of student entrepreneurs especially

their parents. It is one of the process of becoming a successful student entrepreneur who

wants to earn a profit.

Responding positively to construct criticism. According to Eric Gordon (2017),

as an entrepreneur builds his/her brand, he/she should ensure that to put the customers

first, offering them with them quality products and ventures that make them unique

55
compared to their competitors. An entrepreneur should welcome all complaints and

comments and do all the necessary actions to response to them.

During the course of the interview, a participant stated that he/she faced criticism

but took it in a positive manner because in order to be successful, an entrepreneur will

need to learn from experience. By doing this, it helped him/her to realize the necessary

actions to be done which helped him/her succeed.

Moreover, an entrepreneur should see criticism as an opportunity to improve. It will

give the entrepreneur a chance to evaluate their ways and be creative in creating new

approaches to respond to the criticisms. An entrepreneur should be able to use the

feedback to adjust and develop their business (Goodman, 2012).

Implications on research agenda

The purpose of this research was to gain a comprehensive understanding of the

management practices of student entrepreneurs with regards to running their businesses

and balancing their business with their personal lives. In line with this, the major

contribution of this study to our chosen research agenda is that it provides much needed

information about student entrepreneurs in the modern social and economic world,

making it timely and relevant in this time where student entrepreneurship is regarded as

a widely accepted and rapidly evolving phenomenon. Furthermore, since this research

offers new information, the content of this research can aid future researchers with the

same agenda and guide them in exploring more aspects of student entrepreneurship.

56
Implications on ABM education

A second important implication of this study is its role in improving ABM-related

subjects by showing that student entrepreneurship is a concept that is worthy to be

introduced to students. ABM-related subjects focus more on preparing the students for

their future as business professionals, but they do not dwell much on what the students

can do at the present time. Accordingly, this research can help create a new topic within

the strand that focuses on student entrepreneurship and the management and strategies

it entails. This new topic can inspire students to start their own businesses and help them

in managing their resources and time, producing more business-inclined individuals.

57
Concluding remarks

As ABM learners, this study has impacted us in an eye-opening way. This study

has become an instrument for us to see the other side of the coin and evaluate our own

management techniques in a broader context. Furthermore, this study has become way

for us to further understand the struggles being faced by student entrepreneurs especially

with major considerations for their personal and business lives. The interview done to the

participants made us realize that the business that student entrepreneurs are committing

to is not just a means of extra income for them but rather a bridge for them to build a

foundation for their future.

In this study, we, the researchers, have discovered that student entrepreneurs

from Ateneo de Davao University have common management practices, strategies and

ways to overcome challenges, regardless of the unit that they belong to. We also

discovered that student entrepreneurs often prioritize their business over other activities

in their lives. They are highly influenced by the people around them, especially those who

are also committed to business activities. Most of the student entrepreneurs have role

models in running their business, with majority of the study’s participants being influenced

by their parents.

Furthermore, student entrepreneurs apply different budgeting techniques to

effectively allocate their income. Student entrepreneurs also have common strategies in

running their business. Student entrepreneurs take different kinds of considerations but

commonly, they consider the alignment of the nature of the business with their lifestyle.

Moreover, they also consider the demands and needs of their customer and how they

58
can respond to these demands. Student entrepreneurs would also choose to maximize

their time properly and make use of it to produce productivity for their business. In

addition, student entrepreneurs also find challenges with the balancing their time properly

and facing criticisms throughout the course of their business. However, they overcome

these criticisms by using it as a motivation to further improve their business.

59
References
Internet Sources
Agarwal, V. (2016, September 15). Management Skills You Need To Be The Next Great
Entrepreneur. Retrieved from Entrepreneur network:
https://www.entrepreneur.com/article/283135

Appointment Plus, W. B. (2018, February 11). Why Time Management Is Important. Retrieved
from https://www.appointmentplus.com/blog/why-time-management-is-important/

Association for Project Management. (n.d.). Introduction to resource management. Retrieved

August 17, 2018, from Association for Project Management:
https://www.apm.org.uk/body-of-knowledge/delivery/resource-management/

Bailetti, T. (2011, October). Fostering Student Entrepreneurship and University Spinoff

Companies. Retrieved August 17, 2018, from Technology Innovation Management
Review: https://timreview.ca/article/485

Blajin, A. (2013, March 21). Scribd. Retrieved from Scribd Website:

https://www.scribd.com/document/172754730/Challenges-and-Opportunities-facing-
Young-Entrepreneurs

Cohen, D., & Crabtree, B. (2006, July). Qualitative Research Guidelines Project. Retrieved from
Robert Wood Johnson Foundation: http://www.qualres.org/HomeObse-3594.html

Crossman, A. (2018, April 1). Understanding Purposive Sampling. Retrieved from

https://www.thoughtco.com/purposive-sampling-3026727

Data collection method. (n.d.). Retrieved from University of Wisconsin Eau claire:
https://people.uwec.edu/piercech/researchmethods/data%20collection%20methods/data
%20collection%20methods.htm

Dave, P. (2013, June 10). Chapter 7: Data collection. Retrieved from Qualitative research in
corporate communication: https://blogs.baruch.cuny.edu/com9640epstein/?p=97

Dependability in Qualitative Research. (n.d.). Retrieved from Universal teacher:

http://universalteacher.com/1/dependability-in-qualitative-research/

60
Dinkel, A. M. (2011, April 29). Time management: Organization and Prioritizing. Retrieved from
Laboratory equipment: https://www.laboratoryequipment.com/article/2011/04/time-
management-organization-and-prioritizing

Document review definition. (n.d.). Retrieved from Ventureline:

https://www.ventureline.com/accounting-glossary/D/document-review-definition/

entrepreneurship. (n.d.). Retrieved from Cambridge Dictionary:

https://dictionary.cambridge.org/dictionary/english/entrepreneurship

George, H. (2011, August 31). Are you a Student Entrepreneur?…The Challenges We Face!
Retrieved from Views of a Budding Entrepreneur:
https://blogs.lt.vt.edu/hamiltongeorge/2011/08/31/student-entrepreneurs-challenges-we-
face/

Goal Setting Definition - Entrepreneur Small Business Encyclopedia. (2018). Retrieved from
https://www.entrepreneur.com/encyclopedia/goal-setting

Goodman, N. (2012, October 15). How to make criticism drive you. Retrieved from
https://www.entrepreneur.com/article/22465

Gordon, E. (2017, August 2). 5 Challenges Facing Young Entrepreneurs (and How to Overcome
Them). Retrieved from: https://www.goalcast.com/2017/08/02/5-challenges-that-face-
young-entrepreneurs-and-how-to-overcome-them/

Hadzilias, E. A. (2011, October). Qualitative and mixed research methods. Retrieved from
https://estudijas.rtu.lv/file.php/52172/2011.-2012._akademiska_gada_seminari/19.-
21.10.2011._Seminars_-Kvalitativas_petijumu_metodes-/Notes.PDF

Hann, C. (2012, July 31). How to Find a Manufacturer For Your Product. Retrieved from https:
//www.entrepreneur.com/article/223777

How Entrepreneurs Identify New Business Opportunities - Knowledge@Wharton.

(2018). Retrieved from http://knowledge.wharton.upenn.edu/article/how-entrepreneurs-
identify-new-business-opportunities/

How to effectively carry out a qualitative data analysis. (n.d.). Retrieved from Achievability :
https://www.achievability.co.uk/evasys/how-to-effectively-carry-out-a-qualitative-data-
analysis

61
Interviews. (n.d.). Retrieved from Research methodology: https://research-
methodology.net/research-methods/qualitative-research/interviews/

Ji, R. (2017, March 15). Student Entrepreneur: How to Succeed in School and Business.
Retrieved from https://medium.com/thrive-global/student-entrepreneur-how-to-succeed-
in-school-and-business-a4038e612552

Johnson, A. (2015, November 11). 5 Mistakes That Make Effective Prioritizing Impossible.
Retrieved from Entrepreneur: https://www.entrepreneur.com/article/251713

Keene, C. (Ed.). (n.d.). Semi-structured Interviews | Design Techniques. Retrieved from

http://designresearchtechniques.com/casestudies/semi-structured-interviews

Lincoln, & Guba. (1985). Establishing trustworthiness. Retrieved from

https://ethnographyworkshop.files.wordpress.com/2014/11/lincoln-guba-1985-
establishing-trustworthiness-naturalistic-inquiry.pdf

management. (n.d.). Retrieved August 17, 2018, from BusinessDictionary:

http://www.businessdictionary.com/definition/management.html

Manegerial Skill. (n.d.). Retrieved from Business Dictionary:

http://www.businessdictionary.com/definition/managerial-skill.html

Malolos, C. (2017, June). Level of perceived entrepreneurial skills of students at the western
Philippines university. Retrieved August 9, 2018 from
http://www.dlsu.edu.ph/conferences/dlsu-research-congress-
proceedings/2017/RVREBM/RVREBM-I-006.pdf

McQueary, L. (n.d.). What Management Skills Are Necessary to Become a Successful

Entrepreneur?. Retrieved from Chron: https://work.chron.com/management-skills-
necessary-become-successful-entrepreneur-9625.html

Management. (n.d.). Retrieved August 9, 2018 from Merrim-Webster: https://www.merriam-

webster.com/dictionary/management

O'Neill, O. (2015, November 27). How students can start their own business while at university.
Retrieved from https://www.independent.co.uk/student/young-entrepreneurs/how-
students-and-young-entrepreneurs-can-start-their-own-business-while-at-university-
a6752051.html?amp

62
Olivia. (2018). What is Trustworthiness in Qualitative Research? Retrieved from Complete
Dissertation: http://www.statisticssolutions.com/what-is-trustworthiness-in-qualitative-
research/

Parveene, H. &Showkat, N. (2017). Data Collection. Retrieved from

https://www.researchgate.net/publication/319128325_Data_Collection

Problem solving and initiative. (2016). Retrieved from

https://www.nottingham.ac.uk/hr/guidesandsupport/performanceatwork/pdpr/pdpr-
behavioural-competency-guide/personal-effectiveness/problem-solving-and-
initiative.aspx

Reyes, R. R. (2015, January 20). Filipinos view entrepreneurship positively. Retrieved August 9,
2018 from BusinessMirror: https://businessmirror.com.ph/filipinos-view-
entrepreneurship-positively/

Sargeant, J. (2012, March). Qualitative Research Part II: Participants, Analysis, and Quality
Assurance. Retrieved from
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3312514/#__ffn_sectitle

Strategy. (n.d.). Retrieved from Business dictionary:

http://www.businessdictionary.com/definition/strategy.html

Sutton, J., & Austin, Z. (2015). Qualitative Research: Data Collection, Analysis, and
Management. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4485510/

Time Management Skills. (n.d.). Retrieved August 2017, 2018, from Psychology Today:
https://www.psychologytoday.com/us/basics/time-management

Trochim, W. M. (2006, October 20). Ethics in research. Retrieved from Social research
methods: http://www.socialresearchmethods.net/kb/ethics.php

Venturewell. (2016, August 16). Retrieved from Venturewell Web site:

https://venturewell.org/five-biggest-challenges/

What is entrepreneurial resource? (n.d.). Retrieved 9 2018, August, from BusinessDictionary:

http://www.businessdictionary.com/definition/entrepreneurial-resource.html

63
What is Financial Management? (n.d.). Retrieved August 17, 2018, from fundsforNGOs:
https://www3.fundsforngos.org/financial-management/2-what-is-financial-management/

World Bank & Organisation for Economic Co-operation and Development. (n.d.). Business and
entrepreneurship skills and experience. Retrieved August 17, 2018, from The Innovation
Policy Platform : https://innovationpolicyplatform.org/content/business-and-
entrepreneurship-skills-and-experience

Zent, M. (2013, December 20). The Top 5 Essential Strategies for Entrepreneurs.
Retrieved from https://m.huffpost.com/us/entry/448013

E-journals

Anumnu, S. I. (n.d.). Knowledge Management and Development of Entrepreneurial

Skills Among Students in Lagos, Nigeria. The Electronic Journal of Knowledge
Management, 12(2), 144-154. Retrieved from
http://r.search.yahoo.com/_ylt=AwrS_AjxxclbHy0ARThXNyoA;_ylu=X3oDMTByb
2lvbXVuBGNvbG8DZ3ExBHBvcwMxBHZ0aWQDBHNlYwNzcg--
/RV=2/RE=1539978865/RO=10/RU=http%3a%2f%2fwww.ejkm.com%2fissue%2
fdownload.html%3fidArticle%3d569/RK=2/RS=g8jiSM920SvBdSDHoeaCvzyzxs
w-

Chatterjee, N., & Das, N. (2016, February 14). A Study on the Impact of Key
Entrepreneurial Skills on Business Success of Indian Micro-entrepreneurs: A Case of
Jharkhand Region. SAGE Journals. 17(1), 226-237. Retrieved from
http://journals.sagepub.com/doi/full/10.1177/0972150915610729

Fatoki, O. (2014). Student Entrepreneurs on University Campus in South Africa:

Motivations, Challenges and Entrepreneurial Intention. Mediterranean Journal of Social
Sciences, 5(16), 100-107. Retrieved from
http://www.mcser.org/journal/index.php/mjss/article/download/3285/3239

Kennedy, J., Drennan, J., Renfrow, P., & Watson, B. (2016). The Influence of Role
Models on Students' Entrepreneurial Intentions. Queensland Review, 10(1), 37-
52. Retrieved from https://www.cambridge.org/core/journals/queensland-

64
 review/article/influence-of-role-models-on-students-entrepreneurial-
intentions/259D47BE9CC8173A00AE26DB0BCBA5A1

Kemparaj, U., & Chavan, Sangeeta. (2013, March). Qualitative research: A brief
description. Indian Journal of Medical Sciences, 67(3&4), 89-98. Retrieved from
https://www.researchgate.net/publication/258526802_Qualitative_research_A_bri
ef_description
Marchand, J., Sood, S., & Hermens, A. (2015, October). Student Entrepreneurship: A Research
Agenda. The International Journal of Organizational Innovation, 8(2), 266-281. Retrieved
from
https://www.researchgate.net/publication/282370614_Student_Entrepreneurship_a_Res
earch_Agenda
Padilla-Díaz, M. (2015, May 3). Phenomenology in Educational Qualitative Research:
Philosophy as Science or Philosophical Science?. International Journal of Educational
Excellence, 1(2), 101-110. Retrieved from
http://www.suagm.edu/umet/ijee/pdf/1_2/padilla_diaz_ijee_1_2_101-110.pdf
Prabhu V., A., & Thomas, A. (2014). Influence of Parental Factors on the
Entrepreneurial Attitude of B School Students. The Institute for Research and
Development India, 3(1), 35-38. Retrieved from
http://www.irdindia.in/journal_ijrdmr/pdf/vol3_iss1/6.pdf

Ramos, A. (2014). Entrepreneurial Intentions among Business Students in Batangas

State University. Asia Pacific Journal of Multidisciplinary Research, 2(4), 1-6.
Retrieved from http://www.apjmr.com/wp-content/uploads/2014/08/APJMR-2014-
2-095.pdf
Sugiarto, K., Samtani, H, N., Amaris, S, L., & Kumar, S. (2014, June). International Journal of
Trade, Economics and Finance, 5(3), 244-248. Retrieved from
http://www.ijtef.org/papers/378-CF10012.pdf

Books
Concepcion, J. (2011). 50 inspiring stories of young entrepreneurs. Mandaluyong: Philippine
Center for Entrepreneurship.
Creswell, J. W. (2011). Educational research: Planning, conducting and evaluating
quantitative and qualitative research. Boston: Pearson Education, Inc.

65
Sieger, P., Fueglistaller, U., & Zellweger, T. (2016). Student Entrepreneurship 2016:
Insights from 50 Countries. St. Gallen: IMU.

Theoretical Lens

Hutterer, H., Pilz, H., Stark, W., & Steiner, G. (2000, August). Analysis of the Fundamental
Concepts of Resource Management. Retrieved August 9, 2018, from
http://ec.europa.eu/environment/enveco/waste/pdf/guareport.pdf
Morris, M.H., Shirokova, G. & Tsukanova, T. (2017). Student entrepreneurship and the
university ecosystem: a multi-country empirical exploration. European J. International

Management, 11(1), 65–85. Retrieved from

http://www.guesssurvey.org/resources/academic_publications/EJIM11104_Morris-et-
al.pdf

66
5 September 2018

Aujefel Amor Y. lee

Assistant Director for Academics
Senior Highschool Department

Dear Ma'am Lee,

Good day!

We, the researchers from Grade 12-Anchieta of the ABM strand, are currently conducting a study
entitled, "A Qualitative Inquiry on the Management Skills of Student Entrepreneurs". The purpose
of this study is to know the different aspects that student entrepreneurs consider to effectively
manage their business, to know how they balance running their business with their other activities,
and to know the difficulties they face and how they overcome such challenges. The participants
of this study were selected through purposive sampling. Furthermore, the participants can benefit
from this study in such a way that they can incorporate the findings into their own management
practices.

In line with this, we would like to ask for permission to conduct an interview with Senior Highschool
and college students from Ateneo de Davao University to gather all the necessary information.
For your convenience, attached herewith are the interview guide and the informed consent. Rest
assured that this study will observe ethical consideration standards in interviewing the
participants. Also, we assure you that we will not force the participants to participate in our study
and instead, they will just be encouraged to voluntarily participate. Should this study merit your
approval, you may contact Yumilcka Rafhaella M. Beluan, Grade 12 ABM Learner and lead
researcher, in Room F510 or through her phone number, 0948 854 9654.

Thank you.

Respectfully yours,

Beluan, Yumilcka Rafhaella M.

Lead Researcher

Noted by:

Ma. Francesca Elaine Palou

Practical Research Teacher

67
Greetings, Participant!

We, the researchers from the ABM strand, are currently conducting a study about the
Management Skills of Student Entrepreneurs. The study aims to investigate the different aspects
that student entrepreneurs consider to manage their businesses and other activities efficiently. In
addition, it is this study’s goal to produce relevant information in relation to management skills of
student entrepreneurs for students, teachers, the school, and future researchers to use as a
reference and guide for their future endeavors.

We would like to ask for your participation in the interview which will involve asking you about
your personal experiences on managing your business and balancing it with your other activities.
Your participation in this study is not obligatory but entirely voluntary, meaning, we will respect
your decision if you decline from participating. In the circumstance that you do not wish to
participate anymore in the said study, your data will immediately be excluded. Data may be
published in any form of published documents, rest assured that your identity will remain
anonymous.

If you have any queries concerning the research study, please contact 09488549657 or email at
yamsters.yb@gmail.com

The research has been verified and approved by the Ateneo de Davao University Senior High
School’s Assistant Director for Academics and research studies. Thank you for your kind
cooperation!

Note: Only former and current student entrepreneurs are allowed to participate in the interview.

I, _____________________________________, am willing to be part of this study.

(complete name)

____________________ ________________________

(Signature) (Date)

68
 INTERVIEW GUIDE

Date Interviewed:

Time Started: Time Finished:

I. Socio-Demographic Profile
Name (Optional):

Address:

Age:

Sex:

Date of Birth:

Civil Status:

II. The management practices of student entrepreneurs.

1. How do student entrepreneurs manage their time in terms of making sure

their business will not be compromised?

2. How do student entrepreneurs manage their finances?

3. How do student entrepreneurs balance their business and personal lives?

4. What influenced their management technique?

III. The strategies of student entrepreneurs.

1. How do student entrepreneurs run their business?

2. What considerations do they take in relation to their business?

3. What strategies do they to handle external factors that they encounter?

4. Do they pattern their strategies from other entrepreneurs?

IV. The challenges faced by student entrepreneurs.

1. What type of challenges do student entrepreneurs face?

2. How do they cope with these challenges?

69
3. What motivates student entrepreneurs to face these challenges?

4. Do they face criticism regarding their business?

5. How do they face these criticisms?

70
71