Introduction to Entrepreneurship

Businesses are the backbone of

the economy.
Entrepreneurship is encouraged by the economy
because it can provide a lot of opportunities for
the unemployed people. It will increase per capita
income, improve standard of living and increase
individual savings, provide revenue to the
government in the form of income tax, value
added tax, export duties, import duties, and
balanced regional development.
Objectives:
1.discuss the relevance of the course;
2.explain the key concepts of common
competencies;
3.explain the core competencies in
Entrepreneurship; and
4.explore job opportunities for Entrepreneurship as
a career
Instruction: Read the statements
carefully then answer True if the
statement is correct & False if you
think the statement is not correct.
TRUE 1.Entrepreneur means “to undertake.”

TRUE 2. Entrepreneurship is a process of actions of an

entrepreneur who is always in search of
opportunities.

TRUE 3. The greatest significance of entrepreneurship is

to help identify and develop the managerial
capabilities of entrepreneurs.
TRUE 4. Entrepreneurship will lead to the creation of
organizations.

FALSE 5. Entrepreneurship can improve the life of the

entrepreneur only.

FALSE 6. Coward people will become successful

entrepreneurs.
TRUE 7. An entrepreneur is a “Risk Taker”.

FALSE 8. Entrepreneurship is not an

economic activity.

TRUE 9. Entrepreneurs are innovative.

TRUE 10. Profit potential is the compensation of
the entrepreneur.

TRUE 11. An entrepreneur can become a business

consultant.

TRUE 12. An entrepreneur can also be a

researcher.
TRUE 13. An entrepreneur can also become a
salesman.

TRUE 14. Entrepreneurship graduates can

become business reporters.

FALSE 15. The entrepreneur could easily see the

results of his efforts.
What comes into your mind when you
hear the word Entrepreneur?
Activity 1. Let Me Know

Give at least five (5) names of

entrepreneurs that you know, may it be
from your locality or within the
Philippines.
Q u e s t i o n s:
1.What characteristics can you observe or see
that are common among the entrepreneurs
that you have listed?
2.Who among the entrepreneurs that you
mentioned do you admire the 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 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 entrepreneurship many
organizations will exist.

3. Improving Standard of Living - this means

that entrepreneurship can lift up 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.
Concept of Entrepreneurship
The word “entrepreneur” was derived from
the French verb enterprendre, which means
“to undertake.”
The enterprise is created by an entrepreneur
and the process is called “Entrepreneurship.”
Entrepreneurs are innovators.
Factors Affecting Entrepreneurship

1. Personality Factors

2. Environmental Factors
1. Personality Factors
a. Initiative
b. Proactive
c. Problem Solver
d. Perseverance
e. Persuasion
f. A Planner
g. Risk-taker
a. Initiative - you do things without being told.

b. Proactive - anticipating challenges and

taking steps to prevent them before they
occur.
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 want to.

f. A Planner - he makes plans before doing things

and does 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
a. political
b. Climate
c. legal system
d. economic and social conditions
e. market situations
a. Political - It is concerned with general stability of the country in
which an enterprise is expected to perform and the political
philosophy of party in power towards business.
Political factors include:
1.Political atmosphere/political philosophy of the party in power
2.Quality of leadership
b. Climate – unpredictable weather can affect your business directly.
c. Legal system – includes flexibility and adaptability of law and other
legal rules governing the business. It ensures fair competition between
business, protects consumers, provides a safe environment for
employees, and preserves public trust in a business.
d. Economic and social conditions
Economic include capital, infrastructure, raw
material, labor, and market
Social factors cover legitimacy of
entrepreneurship, social mobility, marginality,
and security.
e. Market situations – include target market,
competitors, business challenges.
Common Competencies in Entrepreneurship
1.Decisive
2.Communicator
3.Leader
4.Opportunity seeker
5.Proactive
6.Risk Taker
7.Innovative
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 – an entrepreneur can control a situation
by making things happen or by preparing for possible
future problems.
6. Risk Taker – an entrepreneur has the courage to
pursue business ideas.
7. Innovative - the entrepreneur has big business ideas
and he does not stop improving and thinking of new
worthwhile ideas for his business.
Core Competencies in Entrepreneurship

1.Economic and Dynamic Activity

2.Innovative
3.Profit Potential
4.Risk bearing
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 – The entrepreneur constantly looks
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 Entrepreneurs
2. Imitating Entrepreneurs
3. Fabian
4. Drone Entrepreneurs
5. Social Entrepreneurs
1.Innovative Entrepreneurs - They are those who
always make new things by thinking of new ideas.
They have the ability to 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 Entrepreneurs - is someone who
sticks to traditional methods and resists
the adoption of new technologies.
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
2.Teacher
3.Researcher
4.Sales
5.Business Reporter
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 business
men.
2.Teacher - a graduate of an entrepreneurship can use his
knowledge in teaching.
3.Researcher - the entrepreneur can be employed as a
researcher by an enterprise.
4. Sales - the entrepreneurship graduate can
apply as a salesman.

5. Business Reporter - the entrepreneur being

expert in the field, can be employed as a
business reporter.