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Entrep - Lesson 1

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Ivy Jean Bolocon
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7 views

Entrep - Lesson 1

Uploaded by

Ivy Jean Bolocon
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Entrepreneurship

Learning Objectives

1. Discuss the meaning of Entrepreneurship.


2. Discuss what is an entrepreneur.
3. Discuss the characteristics of an entrepreneur.
Instruction: Select 3 words and/or 3 groups of words from the
illustration below. For each word or group of words, write a sentence
to describe what those words have to do with Entrepreneurship or
Entrepreneurs.
What is Entrepreneurship?

It is the process of creating or seizing an


opportunity, and pursuing it regardless of the
resources currently controlled.

-Howard H. Stevenson
Professor Stevenson spells out four tenets on entrepreneurship.

1. Entrepreneurship flourishes in communities where


resources are mobile.
2. Entrepreneurship is greater when successful members of a
community reinvest excess capital in the projects of other
community members.
3. Entrepreneurship flourishes in communities in which
success of other community members is celebrated rather
than deride.
4. Entrepreneurship is greater in communities that see
change as positive rather than negative.
Entrepreneur
Entrepreneur
Someone who exercises initiative by organizing a
venture to take benefit of an opportunity and, as
the decision maker decides what, how and how
much of a good or service will be produced.
Entrepreneur
Is commonly seen as a business leader and
innovator of new ideas and business processes.
Entrepreneur
Is not necessarily motivated by profit but
possesses a deep passion that drives them to
overcome all the difficulties and challenges when
running the business.
Instruction: On your notebook. Answer the following.

1. Why do you want to be an Entrepreneur?


2. Explain why your school has decide to offer a
course in Entrepreneurship.
Assignment: Profile of an Entrepreneur
Instruction: Interview three entrepreneurs in your local community
and write a profile of no more than one page, describing how that
person got into his/her current business, his/her greatest achievement,
his/her greatest challenge, and the business goals he/she would most
likely to achieve before training.

Guide Questions:
1. Type of Business 6. Goals for business
2. Year(s) in business 7. Prior experience in business
3. Age 8. Greatest Achievement
4. Sex 9. Greatest challenge
5. Marital Status 10. What would you like to
achieve before retiring?
Concept of Entrepreneurship
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.
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
Factors Affecting Entrepreneurship
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.
Factors Affecting Entrepreneurship

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 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.
Common Competencies in Entrepreneurship
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 what is 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- meaning the entrepreneur can be
compensated by his profit coming from the operation.
4. Risk bearing –meaning 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.

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 those skeptical. 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.
Types of entrepreneurs
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 in


the various fields such as education, health, human rights,
environment and enterprise development.
Activity 2 Self- Assessment
Direction: Find out if you have the qualities of an
entrepreneur. Put a check mark on the box.
Assignment

Be ready next meeting for


QUIZ 1

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