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Module 1: Entrepreneurship: An Overview: Module No. and Title

This document discusses the importance, characteristics, and motivations of entrepreneurship. It explains that entrepreneurs create jobs, wealth, and economic growth through new products and businesses. Successful entrepreneurs are passionate, motivated, optimistic, creative risk-takers who can adapt to changes. The document outlines 10 essential characteristics of entrepreneurs and discusses how motivation transforms individuals into entrepreneurs by helping them achieve goals and fulfill higher needs. The next lesson will cover classifications of entrepreneurs.

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ANALIZA PANIMDIM
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67 views

Module 1: Entrepreneurship: An Overview: Module No. and Title

This document discusses the importance, characteristics, and motivations of entrepreneurship. It explains that entrepreneurs create jobs, wealth, and economic growth through new products and businesses. Successful entrepreneurs are passionate, motivated, optimistic, creative risk-takers who can adapt to changes. The document outlines 10 essential characteristics of entrepreneurs and discusses how motivation transforms individuals into entrepreneurs by helping them achieve goals and fulfill higher needs. The next lesson will cover classifications of entrepreneurs.

Uploaded by

ANALIZA PANIMDIM
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Module No.

and Title
Module 1: Entrepreneurship: An Overview
 

Lesson No. and Title


Lesson 2: Importance, characteristic and motivations
for entrepreneurship
 
Learning Outcomes
 Explain the following concepts:
 Importance of entrepreneurship,
 characteristics of entrepreneurs and
 the classification of entrepreneurs.
 Cite specific examples of the proper
behavior of an entrepreneur.
 Demonstrate how to motivate the mind
set of an entrepreneur.
Introduction
You have to be ready with lesson 2 of this
module and as expected, you must have
advance research and readings about our
topic in this lesson. In this lesson you have
to be able to distinguish the importance,
characteristics of entrepreneurs and the
classification of entrepreneurs.
Let’s Explore!
(Abstraction)
 Entrepreneurs are frequently thought of as
national assets to be cultivated, motivated,
and remunerated to the greatest possible
extent.
 Great entrepreneurs have the ability to
change the way we live and work.
 If successful, their innovations may improve
standards of living, and in addition to creating
wealth with entrepreneurial ventures, they
also create jobs and contribute to a growing
economy.
 New products and services created by
entrepreneurs can produce a cascading
effect, where it stimulates related
businesses or sectors that need to
support the new venture, furthering
economic development.
 Entrepreneurial ventures help generate new wealth.
 Existing businesses may remain confined to existing
markets and may hit the glass ceiling in terms of
income.
 New and improved products, services or technology
from entrepreneurs enable new markets to be
developed and new wealth to be created.
 Additionally, increased employment and higher
earnings contribute to better national income in the
form of higher tax revenue and higher government
spending.
 Owning a business isn't for everyone.
 The stress and hard work that come with
it makes many people unwilling to dive
in.
 It takes a special kind of person to be an
entrepreneur - to come up with an idea
and put that idea into action.
Here are 10 essential characteristics to be
successful as an entrepreneur:
1.Creative - Entrepreneurship starts with an idea. To
be successful, you need to always be thinking of new
ideas and better ways of doing things.

2. Passionate
Perhaps the most important characteristic for
entrepreneurs, passion is essential to any business
owner or working professional's success. Without
passion, there is no reason for your work and no
drive to do it. Entrepreneurs love what they do and
are extremely dedicated to the businesses they
create.
3. Motivated
In an interview with The Computerworld Smithsonian
Awards Program, the late Apple founder Steve Jobs
said, "I'm convinced that about half of what separates
the successful entrepreneurs from the non-successful
ones is pure perseverance."
4. Optimistic
Do you see the glass half empty or half full? For
entrepreneurs, it's always half full. Entrepreneurs
always look on the bright side and are constant
dreamers. They look at how they can do things better
and make the world a better place.
5. Future-oriented
Because entrepreneurs are focused on moving forward,
they are always looking toward the future.
Entrepreneurs are very goal-oriented and know exactly
what they want. They set their goals and everything
they do is aimed at achieving those goals.
6. Persuasive
To be successful in business, you have to know business.
If you're a people person and know how to get people
to listen to you, you could be a successful entrepreneur.
Especially when first starting out, entrepreneurs need to
gain buy-in from those around them on their big idea.
7. Flexible
Entrepreneurs know how to adapt to unfamiliar
situations. Whatever it takes, entrepreneurs are
ready and willing. They always approach things with
an open mind and are willing to change course if
they need to.
8. Resourceful
In business, problems aren't a matter of if, but when.
Entrepreneurs do not shy away from challenges or
conflicts. Instead, they face them head on and come
up with a solution. They know how to solve
problems effectively.
9. Adventurous
Entrepreneurs know that to be successful, they must be
willing to take risks. While they don't mind walking on
the wild side, they don't take risks lightly. They know
how to plan for the unknown and make a calculated
decision that is best for them and their business.
10. Decisive
There is no room for procrastination in business.
Entrepreneurs know what needs to be done and don't
hesitate to make the decisions that will lead them to
success. They don't let opportunities pass them by;
instead, they seize the day and get the job done.
 Entrepreneurial motivation is the
process of transforming an ordinary
individual to a powerful businessman,
who can create opportunities and helps
in maximizing wealth and economic
development.
 It is defined as various factors stimulate
desires and activates enthusiasm in
entrepreneurs which make them attain a
particular goal.
 Entrepreneurship is the process of
identifying strengths and opportunities
which help in the realization of one’s
dreams for designing, developing and
running a new business by facing threats
and risks effectively.
 To become an entrepreneur one should
identify their strengths and opportunities
from the external environment.
 Here motivation plays a major role in
identifying their own strengths to become
strong leaders or powerful entrepreneurs
which make them to accepting risks and
face uncertainty for the purpose of
reaching pre-described goals.
 Motivation makes entrepreneur by
fulfilling higher level needs such as
recognition, esteem, and self-
actualization.
 
Key Take Away
(Closure)
 
Congratulations, you have just finished lesson of
this module. Perhaps you will be able to tell your
friends the importance and the proper behaviour
an entrepreneur should possess.
The next lesson would be about the
classification of entrepreneurs. You are expected
to go through some research works about this
topic. Thank you.

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