ENTREPRENEURSHIP

ENTREPRENEURSHIP
Introduction to Entrepreneurship
Introduction to Entrepreneurship
• Entrepreneurship is a practice and a process that
results in one's creativity, innovation and enterprise
development and growth.

• It refers to an individual’s ability to turn ideas into

action by involving and engaging in socially-useful
wealth creation through innovative thinking and
application to meet consumer needs using one’s own
labor, time, and ideas.
Engaging in entrepreneurship shifts
people from being “job seekers” to
“job creators”, which is critical in
countries that have high levels of
unemployment.

It requires a lot of creativity which is

the driving force behind innovation.
“Entrepreneurship is the process of
discovering new ways of combining
resources.”(Russell S. Sobel, 2002)
 Businesses are the backbone of the economy.
Entrepreneurs plays an important role in developing the economy
through providing the needed products and services including the
solution to the problem of unemployment.

Entrepreneurs are encouraged by the economy because they

can provide a lot of opportunities for the unemployed young
people. It will increase in per capita income, higher standard of
living and increased individual saving, revenue to the government
in the form of income tax, value added tax, export duties, import
duties, and balanced regional development
Pre-test activity

Instruction: Read the statements

carefully then write True if the statement
is correct & write False if you think the
answer is not correct.
1. Entrepreneur means “to undertake.”
2. Entrepreneurship is a process of actions of an entrepreneur
who is always in search of opportunities.
3. The greatest significance of entrepreneurship is to help
identify and develop the managerial capabilities of entrepreneurs.
4. Entrepreneurship will lead to the creation of organizations.
5. Entrepreneurship can improve the life of the entrepreneur only.
6. Coward people will become successful entrepreneur.
7. An entrepreneur is a “Risk Taker”.
8. Entrepreneurship is not an economic activity
9. Entrepreneurs are innovative.
10. Profit potential is the compensation of the entrepreneur.
11. An entrepreneur can become a business consultant.
12. An entrepreneur can also be a researcher.
13. An entrepreneur can also become a salesman.
14. Entrepreneurship graduates can become a business
reporter.
15. The entrepreneur could easily see the results of his
efforts.
Can you tell me what
comes into your
mind when you hear
the word
Entrepreneur?
Give at least five (5) names
of entrepreneurs that you
know. May it be from your
locality or within
Philippines. Identify what
are their common traits as
entrepreneur.
1.What characteristics that you can observe or see that is
common to them?
2.Who among the entrepreneurs you mentioned that you
admire most and why?
3.In your own opinion, what do you need to possess to
become a successful entrepreneur?
Relevance of Entrepreneurship
to an Organization

1. Development of Managerial 3. Improving standard of living - this

capabilities - this means that one means that entrepreneurship can lift up
of the benefits an entrepreneur gets is the economic status of an individual.
to develop his managerial skills. 4. Means of economic development -
2. Creation of Organizations - which this means that not only the life of the
means that because of entrepreneurships entrepreneur is improved but also the
many organizations will exist. society where the business is located.
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 5. Proactive - controlling a situation

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

1. Economic and dynamic activity - 3. Profit Potential - The

Entrepreneurship is an economic activity
entrepreneur can be compensated
because it involves the creation and operation
of an enterprise with a view to creating value or by his profit coming from the
wealth by ensuring optimum utilization of limited operation.
resources.
4. Risk bearing – The
2. Innovative - Entrepreneurs constantly look for
entrepreneur needs to gamble but
new ideas, thus he needs to be creative.
wise enough to offset the risk.
Types of Entrepreneurs
Types of Entrepreneurs
Career Opportunities of
Entrepreneurship

3. Researcher - the entrepreneur

1. Business Consultant - with the
can be employed as researcher by
expertise of in the field of entrepreneurship,
an enterprise.
he can be a very good source of advices
to other entrepreneurs and would be
4. Sales - the entrepreneurship
graduate can apply as salesman.
business man.
5. Business Reporter - the
2. Teacher - a graduate of an
entrepreneur being expert in the field,
entrepreneurship can use his knowledge
he can be employed as business
in teaching.
reporter.
Thank You