ENTREPRENEURSHIP It can be classified into small or home business to
multinational companies. In economics, the profits that an
Process on how to run the business. (na may kaakibat na entrepreneur makes is with a combination of land, natural
kumikita ng pera) resources, labor and capital.
IMPORTANCE OF ENTREPRENEURSHIP:
en·tre·pre·neur·ship
Creation of Employment- Entrepreneurship generates
[ˌäntrəprəˈnərˌSHip]
NOUN employment. It provides an entry-level job, required for
1. the activity of setting up a business or businesses, taking on gaining experience and training for unskilled workers.
financial risks in the hope of profit: Innovation- It is the hub of innovation that provides new
"the new business opportunities have encouraged entrepreneurship product ventures, market, technology, and quality of goods,
on a grand scale" etc., and increase the standard of living of people.
Concept of Entrepreneurship Impact on Society and Community Development- A
society becomes greater if the employment base is large
Entrepreneurship is the ability and readiness to develop, and diversified. It brings about changes in society and
organize and run a business enterprise, along with any of its promotes facilities like higher expenditure on education,
uncertainties in order to make a profit. The most prominent better sanitation, fewer slums, a higher level of
example of entrepreneurship is the starting of new businesses. homeownership. Therefore, entrepreneurship assists the
organization towards a more stable and high quality of
In economics, entrepreneurship connected with land, labor,
community life.
natural resources and capital can generate a profit. The
entrepreneurial vision is defined by discovery and risk-taking and is Increase Standard of Living- Entrepreneurship helps to
an indispensable part of a nation’s capacity to succeed in an ever- improve the standard of living of a person by increasing the
changing and more competitive global marketplace. income. The standard of living means, increase in the
consumption of various goods and services by a household
for a particular period.
ENTREPRENEUR Supports research and development- new products and
involved in business. services need to be researched and tested before launching
in the market. Therefore, an entrepreneur also dispenses
Meaning of Entrepreneur finance for research and development with research
institutions and universities. This promotes research,
The entrepreneur is defined as someone who has the ability and
general construction, and development in the economy.
desire to establish, administer and succeed in a startup venture
along with risk entitled to it, to make profits. FACTORS TO CONSIDER IN STARTING BUSINESS.
The best example of entrepreneurship is the starting of a According to research studies:
new business venture. 1. Entrepreneurial opportunities
The entrepreneurs are often known as a source of new ideas 2. Financial ability
or innovators and bring new ideas in the market by 3. Self-fulfillment
replacing old with a new invention. 4. Help your family.
5. Provide employment to others. (60/40) 5. Abundance of natural resources
6. Availability of component middle management and technical
1. ENTREPRENEURIAL OPPORTUNITIES talents.
New products CLASSIFICATION OF ENTERPRISE ACCORDING TO SIZE
New service
New way of organizing MICRO ENTERPRISE
New raw materials Home based enterprise operating in market sheet.
New market (Sari-sari store, talipapa, ihaw-ihaw, paresan, barbeque…)
New product process Employs 1 and not more than 100 (usually the owner
manages the business and family members)
The 7P’s Assets size of Php 50,000
1. Product
2. Price
3. Place COTAGE INDUSTRY
4. Promotion Home based often manage by the family members.
5. People (Lantern, pastillas, jam, shoe, coffee shop, small groceries,
6. Process cafeteria…)
7. Production Assets size of Php 250,000 to 500,000
4 essential qualities of opportunities
1. Attractive SMALL ENTERPRISE
2. Durable Owned by an individual/group, has enough resources.
3. Timely Employs 10-20 people.
4. Anchored in the product/services or business that create or (Groceries, bakery/bake shop, beauty salon, medical and
add value for its buyer or end-user. dental clinic, toy makers, travel, and tour agents)
Asset size of Php 500,000 to 2.5 million
Potential sources of opportunities
1. The unexpected
2. The process needs. MEDIUM ENTERPRISE
3. Industry and market structures Owned by single or individual/ business partners/
4. Demographics referring to the place. corporation/ business with branch.
5. Change Employs 100 or more.
6. New knowledge (Fine dining restaurants, computer importers,
undergarments, human resource provider, private
Philippines Potential Source of Opportunities educational institutions…)
1. Positive attitude of Filipino worker Assets size of 5 million to 10 million
2. Low labor cost
3. Literacy of workplace
4. Large market potential LARGE ENTERPRISE
Owned/managed by a corporation.
It’s BOD (Board of Directors) is responsible for…
BOD is elected by the shareholdersinvestors.
(Big fast-food chain, department store, book store, family-
owned bank and insurance company)
Assets size of 20 million and more.
