by sullanotes Enterprise Asset size # of employees

Micro Up to P 3,000,000 1-9

ENTREPRENEURSHIP Small P 3,000,000-15,000,000 10-99
 Centerpiece of contemporary education; gives the Medium P15,000,000-100,000,000 100-199
capacity to not only start companies but also to o Philippines is known to have one of the
think creatively and ambitiously most complicated tax systems
 RA 10644 GO NEGOSYO ACT o Taxes: funds used by government to
- A course/training program that promotes finance basic social services (vital to lives
entrepreneurial culture and competence of citizens and economic growth)
 RA 10679 YOUTH ENTREPRENEURSHIP ACT 2. Entrepreneurship amplifies different sectors
- Aims to build a culture of entrepreneurship as 3. Entrepreneurship improves living standards
analternative solution to un/underemployment o South Korea (corporate social
- Includes financial literacy; nationwide and all responsibility) where the law provides
levels of education nonprofit healthcare
 7 Survival Skills for Careers, College, and 4. Entrepreneurship distributes economic power
Citizenship by Tony Wagner o Progress of the city is distributed to the
1. Critical Thinking and Problem Solving provinces and islands which generates
2. Collaboration across Networks and Leading by income
Influence 5. Entrepreneurship controls local wealth and
3. Agility and Adaptability balances regional development
4. INITIATIVE AND ENTREPRENERUSHIP  10 Most Promising Careers for Aspiring
5. Effective Oral and Written Communication Entrepreneurs
6. Accessing and Analyzing Information 1. Sales Managers
7. Curiosity and Imagination 2. Lawyers
 Human vs Machine 3. Marketing Managers
- Machines are slowing taking over but these 4. Computer Systems Manager
machines can never replicate human creativity 5. Construction Managers
and initiative 6. Registered Nurses
- Bank on the analytical thinking of humans 7. Medical and Health Services
 Entrepreneurial Ecosystem 8. Personal Financial Advisors
9. Public Relations Specialist
10. Sales Representatives
 8 Jobs You Can Get with an Entrepreneurship
Degree
1. Mid level Management
2. Business Consultant
3. Sales
4. Research and Development
5. Not-for-profit fundraiser (professional beggar)
6. Teacher
7. Recruiter
8. Business Reporter
 Market  Who is an entrepreneur?
- In economics, it is a place where goods and - Owner who invests in resources (time, money,
services are exchanged facilities, etc.)
- In marketing, it is the people - Brings an idea to life; setting direction
 Doing Things Right vs Doing the Right Thing - Making things happen; adding value
- Doing things right, efficiency, shortens the - Owner of a business that invests his/her
process strategically; focus on process resources to bring an idea to life
- Doing the right things, effective, doing 1. Corporate Entrepreneur
everything in the process: focus on goals o Does everything like an entrepreneur but
 Societal and Environment Benefits of does not have a financial stake in the
Entrepreneurship business
1. Entrepreneurship generates more jobs = o An intrapreneur with entrepreneurial spirit
increases national income in company
o MSME Classification 2. Innovator
 o New in terms of idea; commercial success Pursuing right Pursuing right goals,

Goals/Doing Things Right Pursuit of Appropriate

Effective
o Someone who introduces a new product, goals, but and efficient (high
process, business model inefficient (costs ROI, cost effective
3. Inventor are high
o Creates something new but has not attained Pursuing wrong Pursuing wrong goals

Ineffective
commercial success goals and but efficient (not
4. Technopreneur inefficient (not producing enough but
o Enhance technology; technology at the producing low cost)
center of the business enough,
o Business will not exist without the Inefficient Efficient
technology Use of Resources/Doing Things Right
5. Social Entrepreneur  Personal Effectiveness Competencies
o Before helping, must earn 1. Interpersonal Skills
o Take advantage of a social crisis o Work well with people no matter the
6. Extrapreneur background
o Hopping from one organization to 2. Strong Initiative
corporation to company because want to o High initiative and driven to work hard;
share (skills?) regardless of effort
7. Green Entrepreneur 3. Ambition
o Organic/green/environment products, o Motivated, persistent, persevere
services, and process 4. Adaptability and Flexibility
8. Pink Entrepreneur o Deal well with ambiguity/change; choose
o LGBTQIA+ actions even without all necessary
o Market value in US: $790 billion, China: information
$300 billion 5. Willingness to Take Risks
 What is the relevance of studying o Calculated risks; weigh every decision
Entrepreneurship and innovation? 6. Willingness to Learn
- Basic demands: food, clothing, shelter o Pursues opportunities that allow one to
- Refer to Life of John Gokongwei (e.g. bad learn new things
publicity of Robinson’s and snakes gave mileage o Commitment, competencies, cooperation,
to the business) communication
 5 Levels of Entrepreneurship Ladder  Entrepreneurial Traits
- Individual traits and characteristics that differ
from one person to another
1. Passion
o Most observed; drive you even without
profit
2. Proactivity
o Take action to influence environment
change
3. Tenacity
o Or perseverance
4. New Resource Skill
o Ability to acquire and systemizing operating
the resources
5. Need for Achievements
o Maintaining high standards and aspiring to
 Entrepreneurial Competencies accomplish difficult tasks
- Group of characteristics that help in the success 6. Locus of Control
of the business o Degree to which a person believes that their
- Refer to Model Developed by Consortium for actions can directly affect an event, or that
Entrepreneurship Education they can control an outcome
7. Goal setting
8. Self Efficiency
o Belief in their own ability, in other words,
their task-specific self confidence