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Entrep Week 1

The document provides an overview of entrepreneurship, highlighting its significance in economic development and job creation. It outlines key concepts, competencies, and various types of entrepreneurs, emphasizing the skills necessary for success in this field. Additionally, it discusses potential career opportunities for individuals pursuing entrepreneurship.

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Rica Alyzza Sarmiento-Casillan
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8 views19 pages

Entrep Week 1

The document provides an overview of entrepreneurship, highlighting its significance in economic development and job creation. It outlines key concepts, competencies, and various types of entrepreneurs, emphasizing the skills necessary for success in this field. Additionally, it discusses potential career opportunities for individuals pursuing entrepreneurship.

Uploaded by

Rica Alyzza Sarmiento-Casillan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Introduction to

Entrepreneurship
Businesses are the backbone of the economy.
Entrepreneurs play an important
role in developing the economy through providing
the needed products and services
including the solution to the problem of
unemployment.

2
Entrepreneurship is encouraged by the
economy because it can provide a lot
of opportunities for the unemployed people.

2
After reading this module, the learners should be able to:

discuss the relevance of the course;


explain the key concepts of common competencies;
explain the core competencies in Entrepreneurship;
and
explore job opportunities for Entrepreneurship as a
career.

7
Before we will proceed to our lesson, can you tell me
what comes into your
mind when you hear the word Entrepreneur?

8
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.
8
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.
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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. They are willing to take
the risks and generate unique ideas that can provide
profitable solutions to the needs of the market and the
8
society
Factors Affecting Entrepreneurship
1. Personality Factors which include:

a. Initiative - 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.
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 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 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 - 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 - 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 - They are those who live 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 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 - 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.

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