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Lesson 2 - Salient Features

- Entrepreneurship has several salient features including: providing value to customers, opening and managing one's own business, and taking risks with new ventures. - It is considered an art as entrepreneurs must be creative, dynamic, and able to transform new ideas into business opportunities by correctly performing business activities regardless of ease. - Entrepreneurship differs from small business ownership in that entrepreneurs create new ideas and take risks, while small business owners focus more on existing ideas and immediate earnings.

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335 views

Lesson 2 - Salient Features

- Entrepreneurship has several salient features including: providing value to customers, opening and managing one's own business, and taking risks with new ventures. - It is considered an art as entrepreneurs must be creative, dynamic, and able to transform new ideas into business opportunities by correctly performing business activities regardless of ease. - Entrepreneurship differs from small business ownership in that entrepreneurs create new ideas and take risks, while small business owners focus more on existing ideas and immediate earnings.

Uploaded by

Teacher Flo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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LESSON 2 – SALIENT FEATURES

OF ENTREPRENEURSHIP

At the end of the lesson, the


learner should be able to
1. Enumerate the salient features
of entrepreneurship and
2. Explain each features.
Providing values to
customers

Opening and
Wealth-creating
managing self-
venture
owned business

ENTREPRENEURSHIP

Art of correct Risk-taking


practices venture
ART OF CORRECT PRACTICES
* As an art, entrepreneurship is dynamic
change/progress.
- by the moment the economic activity changes,
the political, social & entrep activities will
eventually change.
* As an art, entrep is closely related to creativity
- creativity results in new ideas which are the
backbone of entrepreneurship.
- keep on searching for something new.
ART OF CORRECT PRACTICES
• They find ways to transform new ideas
into
entrepreneurial opportunities.
• This aspect differentiates an entrepreneur
from an ordinary small business person. An
entrepreneur transforms feasible new
ideas into an entrepreneurial venture,
while an ordinary small business person
only builds upon existing ideas to gain
immediate earnings from his/her business.
ART OF CORRECT PRACTICES
E
 Has to perform entrepreneurial activities correctly regardless
of whether they are undertaken EASILY or NOT.
 What is important in entrepreneurship is that the business
activities are performed correctly.

BP
The owner of ordinary small business has the freedom to
manage and operate his/her business according to what
pleases him/her.
Prefers business activities which are done easily.
As a future entrepreneur, one should always
remember that nothing is permanent in the
field of entrepreneurship. What is applicable to
one entrepreneur may not be applicable to
another. Certain things may happen to one
entrepreneur but may not happen to another.
Entrepreneurship should be practiced not as a
SCIENCE but as an ART. Creativity should
always be applied to entrepreneurial
undertakings by regularly evaluating the
market and the environment & responding to
changes in them.
ENTREPRENEURSHIP IS A WEALTH
CREATING VENTURE

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