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Lesson 1 Introduction To Entrepreneurship

This document discusses key concepts in entrepreneurship including: 1. Entrepreneurs take risks to create unique and profitable solutions to problems. 2. Entrepreneurship benefits organizations by developing managerial skills, creating new organizations, and improving living standards. 3. Factors that affect entrepreneurship include personality traits like initiative and risk-taking, as well as environmental conditions.

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jofernoroblanco
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27 views

Lesson 1 Introduction To Entrepreneurship

This document discusses key concepts in entrepreneurship including: 1. Entrepreneurs take risks to create unique and profitable solutions to problems. 2. Entrepreneurship benefits organizations by developing managerial skills, creating new organizations, and improving living standards. 3. Factors that affect entrepreneurship include personality traits like initiative and risk-taking, as well as environmental conditions.

Uploaded by

jofernoroblanco
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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INTRODU CT I ON TO

EN T REP RE N E U RSH I P
The word “entrepreneur” was derived from the French verb
enterprendre, which means “to undertake.” This is
pinpointing to those who “undertake” the risk of enterprise.
The enterprise is created by an entrepreneur and the process
is called "Entrepreneurship.”

Entrepreneurs are innovators, willing to take risks and generate new


ideas to make it unique and profitable solutions to the present-day
problems.
RELEVANCE OF ENTREPRENEURSHIP TO
AN ORGANIZATION

1. Development of Managerial capabilities - this means


that one of the benefits an entrepreneur gets is to develop
his managerial skills.

2. Creation of Organizations - which means that because


of entrepreneurships many organizations will exist.
3. Improving standard of living - this means that
entrepreneurship can lift the economic status of an individual.

4. Means of economic development - this means that not only


the life of the entrepreneur is improved but also the society where
the business is located.
Factors Affecting Entrepreneurship

1. Personality Factors which includes:


a. Initiative - which means doing things even before being
told.
b. Proactive -which means he can classify opportunities and
seize it.
c. Problem Solver - which means he can retain good relations
with other
people.
d. Perseverance - meaning he will pursue things to get done
regardless of
challenges.
e. Persuasion - means that he can entice people to buy even if
they don’t.
f. A Planner - meaning he makes plan before doing things and do
not fail to
monitor it.
g. Risk-taker - which means that he is willing to gamble but he
will calculate it
first.
2. Environmental Factors which include political, climate, legal
system, economic and social conditions and market situations.
Common Competencies in Entrepreneurship

1. Decisive - an entrepreneur must be firm in making decisions.

2. Communicator - an entrepreneur must have a convincing


power.
3. Leader - an entrepreneur must have the charisma to be
obeyed by his employees.
4. Opportunity seeker - an entrepreneur must have the ability to
be the first to see business chances.
5. Proactive - controlling a situation by making things to happen
or by preparing for possible future problems.
6. Risk Taker - they have the courage to pursue their business
ideas.
7. Innovative - the entrepreneurs have big business ideas and they
do not stop improving and thinking of new worthwhile ideas for
their business.
Core Competencies in Entrepreneurship

1. Economic and dynamic activity - Entrepreneurship is an


economic activity because it involves the creation and operation of
an enterprise with a view to creating value or wealth by ensuring
optimum utilization of limited resources.

2. Innovative - Entrepreneurs constantly look for new ideas, thus he


needs to be creative.
3. Profit Potential - The entrepreneur can be compensated by his
profit coming from the operation.

4. Risk bearing – The entrepreneur needs to gamble but wise


enough to offset the risk.
Types of Entrepreneurs

1. Innovative entrepreneur - They are those who always


make new things by thinking of new ideas. They can think
newer, better and more economical ideas.

2. Imitating entrepreneurs - They are those who don’t create new


things but only follow the ideas of other entrepreneurs.
3. Fabian entrepreneurs - They are skeptical about changes to be
made in the organization. They don’t initiate but follow only after
they are satisfied.

4. Drone entrepreneur - They are those who lives on the labor of


others. They are die-hard conservatives even ready to suffer the loss
of business.

5. Social entrepreneurs - They are those who initiate changes


and drive social innovation and transformation in the various
fields such as education, health, human rights, environment and
enterprise development.
Career Opportunities of Entrepreneurship

1. Business Consultant - with the expertise of in the field of


entrepreneurship, he can be a very good source of advices to other
entrepreneurs and would be businessman.

2. Teacher - a graduate of an entrepreneurship can use his


knowledge in teaching.

3. Researcher – the entrepreneur can be employed as researcher


by an enterprise.
4. Sales - the entrepreneurship graduate can apply as salesman.

5. Business Reporter - the entrepreneur being expert in the


field, he can be employed as business reporter.

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