EXP7 MODULE1

A. Definition of Entrepreneurship Entrepreneurship is to a large degree a mind-set, always striving to do

new things in an innovative and better way.

Putting these perspectives together, entrepreneurship canNbe viewed as

• recognizing change,

• pursuing opportunity,

• taking on risk and responsibility,

• innovating,

• making better (higher value) use of resources,

• creating new value that is meaningful to customers,

• doing it all over again and again.

B. History of Entrepreneurship The Beginnings of Entrepreneurship and Trade Believe it or not, the first
entrepreneurs can be traced back to nearly 20,000 years ago.

Entrepreneurship and the Agricultural Revolution The first big shift in entrepreneurship took place
during the Agricultural Revolution, which occurred about 12,000 years ago.

By specializing in different professions, members of the community could trade valuable goods for food.
These were the earliest entrepreneurs in human civilization. Some common areas of specialization
included:

• Hunting and gathering

• Fishing

• Cooking

• Tool-making

• Shelter-building

• Clothes-making

Early entrepreneurs would work in areas like:

• Pottery

• Carpentry

• Wool-making

• Masonry
The Expansion of Trade Routes from 2000 BCE Onward Between the Agricultural Revolution and 2000
BCE, cities started to appear around the world. Early areas of civilization were concentrated around
rivers, particularly the Nile, the Tigris and Euphrates, the Indus, and the Yellow and Yangtze.

Entrepreneurship and the Invention of Money One of the key developments in the history of
entrepreneurship (and in human history) was the invention of money.

Currency gave entrepreneurs several important things:

• It facilitated long-distance trade

• It acted as a medium of exchange

• It provided a way for entrepreneurs to store value

The Unexpected Stifling of Innovation It wasn’t all good news for entrepreneurs during this period.

Many entrepreneurs had their inventions and innovations stifled.

Mercantilism, Explorers, and the New World from 1550 to 1800 The period from 1550 to 1800 gave rise
to the philosophy of mercantilism. Followers of this philosophy believed that therewas only a finite
amount of wealth in the world.

Entrepreneurship in the 1800s Onward: Machines and Markets Many people see the last 200 years of
entrepreneurship as being fuelled by “machines and markets”.

Availability of Energy Production: Businesses were no longer restricted by small-scale energy powered
by wind (which was weather-dependent) or falling water (which was location dependent).

Availability of Labor: Huge populations began moving to Industrial Revolution cities starting in the
1700s.

Post World War II Entrepreneurship After World War II, entrepreneurship began to change for a

few different reasons.

Modern Entrepreneurship Today, entrepreneurs are the lifeblood of economies all over the world.

C. Importance of Entrepreneurship

a. Education While the society all around is developing with technology and innovations, the K-12
schools have been in a stagnant scenario.

Learning a Business Students can practice writing, interview questions and conduct interviews with
entrepreneurs.

Language arts Students can be challenged to come up with business ideas or products, that they think
others would be interested to buy.

Thinking skills Teach students to think on, what’s positive or strong about their work and let them
ponder on their weaknesses to find the changes needed to make their product more interesting.

Imagining Creativity dwells within imagination.

Research skills Have students to look through the yellow pages to spot businesses and interesting
names, and then categorise these results in superlative forms of adjectives, foreign words, what the
business produce or sells, geographic locations and their functions.

b. Economic Development Entrepreneurship is important for a number of reasons, from promoting

social change to driving innovation.

Entrepreneurs Spur Economic Growth New products and services created by entrepreneurs can
produce a cascading effect, where they stimulate related businesses or sectors that need to support the
new venture, furthering economic development.

Entrepreneurs Add to National Income Entrepreneurial ventures help generate new wealth.

Entrepreneurs Create Social Change Through offering unique goods and services, entrepreneurs break
away from tradition and reduce dependence on obsolete systems and technologies.

Rule of Law Rule of law, which encompasses regulatory structures, policy ENVIRONMENT, and
enforcement of regulations, is one of the more important dimensions in assessing the competitiveness
of Philippine enterprises.

Role of enterprise networks In addressing the above mentioned challenges, there is a need to rally
behind national advocacy to push entrepreneurship to the next level.

Nurturing the entrepreneurship paradigm Entrepreneurship is more than just an economic term — it is
a way of thinking.

II. The Entrepreneurs

A. Definition of Entrepreneur An entrepreneur is someone who develops an enterprise around an

innovation.

B. 5c’s of Entrepreneurial mind

• Commitment: • Courage:

• Confidence: • Collaboration:

• Creativity:

C. Types of Entrepreneur One of the reasons there is disagreement over the definition of an
entrepreneur is that it includes so many different types of self employed businesses.

Small business Some entrepreneurial pursuits end up becoming massive businesses, but they all start
out as a small business, and many stay that way.

Home-Based Business A home-based business could fit under the category of small business, but the
primary factor,

Online Business Internet-based business can be small, home-based, or even large corporations.

Inventors For an inventor to be considered an entrepreneur, they need to go beyond the idea stage to
build the product and get it to market.
Serial Entrepreneur Many entrepreneurs get the most joy out of starting and building a business, but
not in its continued management.

Lifestyle Entrepreneur Although the idea of a lifestyle entrepreneur t new,;s gained in popularity with
the rise of technology like YouTube that gives everyone access to a global audience.

D. Characters of Entrepreneur Examining the commonly shared characteristics may help to explain the
way entrepreneurs work.

Passion: Talk to successful entrepreneurs and you nearly always hear the word passion when they
describe what they do.

Independent thinking: Entrepreneurs often think outside the box and t swayed by others who might
question their ideas.

Optimism: difficult to succeed at anything if you do believe in a good outcome.

Confidence: This is not to say entrepreneurs never have self doubt,

Resourceful and problem-solvers: Lack of assets, knowledge,

Tenacity and ability to overcome hardship: Entrepreneurs don't quit at the first, second, or even
hundredth obstacle.

E. Entrepreneurs’ Decision-making Process

1. Recognize the problem – the gap

2. Analyze the problem

3. Define possible solutions

4. Analyze all possible solutions

5. Select the best solution for the application

6. Implement the decision

MODULE 2

What is Government? Government, is a political system by which a country or community is

administered and regulated.

What is Entrepreneurship? Entrepreneurship is the act of creating a business or businesses while

building and scaling it to generate a profit.

What is the Determinant of Investment? Is the level of investment in an economy tends to vary by a
greater extent than other components of aggregate demand.

 THE EXPECTED RETURN ON THE INVESTMENT. Investment is a sacrifice, which involves taking
risk

Business Confidence- Similarly, changes in business confidence can have a considerable

influence on investment decisions.
 Change in national income - Changes in national income create an accelerator effect.

Interest  Rate - Investment is inversely related to interest rates, which are the cost of borrowing
and the reward to lending

General Expectation - Because investment is a high-risk activity, general expectations about the
future will influence a firm’s investment appraisal and eventual decision-makin

Corporation Tax - Firms pay corporation tax on their profits, so a reduction in tax increases the
profits they retain after tax is paid, and this acts as an incentive to invest.

The Level of Savings - Household and corporate saving provides a flow of funds into the financial
sector

The acceleration effect - Small changes in household income and spending can trigger much
larger changes in investment

The role of Government in Entrepreneurship

Government always has a very vital role in the promotion of entrepreneurship

Different Government Institution

Small Industries Development Organization (SIDO)

Management Development Institute (MDI)

Different Organization Support Entrepreneurs

1. Ideaspace

2. Endeavor Philippines 

3. Techtalks.ph

4. Young Entrepreneur Society Philippines (YES)

5. Kickstart Venture

Government Assistance Programs in Entrepreneurs

Small-Business Assistance
Minorities and Women
Venture Capital
Environmental Programs

Program Entrepreneur
Negosyo CenGovernment ters
Small and Medium Enterprise Roving Academy 
KAPATID MENTOR ME Program
Shared Service Facilities Program (SSF)
Barangay Micro Business Enterprise