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Chapter 1 discusses the concept of entrepreneurship, defining an entrepreneur as someone who identifies opportunities and manages risks to create profitable business ventures. It outlines key entrepreneurial skills, the difference between entrepreneurs and managers, and the dynamic process of entrepreneurship, emphasizing the importance of innovation and growth. Additionally, it highlights notable Filipino entrepreneurs and the factors that contribute to entrepreneurial success.

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Lara Feliza Andaya
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2 views

Lesson1_entrep

Chapter 1 discusses the concept of entrepreneurship, defining an entrepreneur as someone who identifies opportunities and manages risks to create profitable business ventures. It outlines key entrepreneurial skills, the difference between entrepreneurs and managers, and the dynamic process of entrepreneurship, emphasizing the importance of innovation and growth. Additionally, it highlights notable Filipino entrepreneurs and the factors that contribute to entrepreneurial success.

Uploaded by

Lara Feliza Andaya
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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CHAPTER 1

THE CONCEPT OF
ENTREPRENEURSHIP
“Opportunity comes form one person’s idea
that influences others to take action”
Learning Outcomes
◦ Define what is an Entrepreneur
◦ Describe the key concepts in the making of an entrepreneur
◦ Identify the factors that develop entrepreneurial activities and successes
◦ Give the difference between a Manager and an Entrepreneur
◦ Discuss the development of entrepreneurship
◦ Elaborate the making of a Filipino entrepreneur and their profile
◦ Discuss the challenges in entrepreneurship
It is a science of converting processed
ideas into a remarkable business
venture.

It is also a capacity for innovation,

Entrepreneurship investment and expansion in new


market, products and techniques.

Refers to the concept of developing


and managing a business venture in
order to gain profit by taking several risks
in the corporate world. Simply, it is the
willingness to start a new business.
Is an individual who is alert to
profitable opportunities for the
exchange of goods or services.

Is one who organizes, manages,


The directs and assumes the risks of
Entrepreneur business or enterprise.

The word "entrepreneur" comes


from the French
verb entreprendre, meaning "to
undertake"
Some Questions that a potential entrepreneur must ask
himself or herself before setting up a new business
Entrepreneurial skills and
competency factors:
◦ Negotiating ◦ Training
◦ Planning ◦ Selling
◦ Risk Assessment ◦ Controlling
◦ Purchasing ◦ Dealing with emergencies
◦ Accounting
◦ Recruitment
Entrepreneur as Missionary
◦Entrepreneurs
perceives
opportunities inherent
in the exchange of
goods with great
desire for profit.
Entrepreneur is goal-driven
◦Entrepreneur
exercise the locus
of control
confidently
THE
ENTREPRENEUR
IS A
MARKETING
MAN

Exploits opportunities
and makes an
immediate action for his
personal gain.
The Entrepreneur Starts Small to
Become Big
◦ Started from simple beginnings,
develop their managerial skills and
talents and find the opportunities for
disposal.
The Making of Entrepreneur as an
approach
◦ Considers the business opportunity as a chance to find new ways to solve the problem
rather solving the problem.
◦ Manager – adapter
◦ Entrepreneur – innovator
Entrepreneurship is a process that can
be developed, learned and nurtured.
Entrepreneurship as a dynamic
process
◦ Establishing new opportunity for the creation of new venture
◦ Greater drive for expansion and growth and has propensity to make a difference in
terms of their achievements in profit and exploitation of the resources for growth and
business expansion.
Factors that develop entrepreneurial
activities
◦ The Entrepreneur takes the initiative
◦ Organization of capital resources
◦ The development of administrative machinery
◦ The development of entrepreneurial autonomy
◦ The development of SWOT Analysis
https://www.toppr.com/guides/business-management-and-entrepreneurship/introduction-to-entrepreneurship/entrepreneurs-vs-managers/
Famous Filipino Entrepreneurs

◦Socorro Ramos
Famous Filipino Entrepreneurs
◦ Tony Tan Caktiong
Famous Filipino Entrepreneurs
◦ Leonardo S. Sarao – Jeepney King, Sarao Motors

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