Entrep 1

Entrepreneurship
Prepared by:
Ms. Dianne Gandeza-Landicho
CLASS SCHEDULE
HUMSS 12-2
• Tuesday 2:00-3:00 PM
• Wednesday 7:30-8:30 AM, 2:00-3:00 PM
SUBJECT
REQUIREMENT
• Book
Subject Description
The course deals with the concepts, underlying
principles, processes and implementation of a
business plan.
The preliminaries of this course include the
following:
1) discussion on the relevance of the course;
2) explanation of key concepts of common
competencies
3) explanation of core competencies relative to the
course; and
4) exploration of career opportunities.
Learning Objectives
At the end of the lesson, the students shall

be able to:
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.
What is the relevance
of studying
entrepreneurship?
Differentiate
entrepreneurship and
innovation
What is
innopreneurship?
Who is an entrepreneur?
An entrepreneur is an owner of
a business who invests his/her
resources to bring an idea to
life, setting the direction that
transforms that idea into reality.
Components of an
entrepreneur
1. Owner who invests resources
 entails risk taking
 Key Factor: Commitment
2. Brings an idea to life

 defining the best options
 Key Factor: Competency
3. Setting direction
 quality information and making choices
 Key Factor: Competency
4. Making things happen
 interdependent elements are in
harmony to attain defined goals
 Key Factor: Coordination
5. Adding Value
 financial understanding
 Key Factor: Commitment
Who is an innovator?
An innovator is a person who
introduces either a new process,
product, service or business model
to the marketplace that becomes
commercially successful.
Elements:
1. New
2. Commercial success
Why be an entrepreneur?
Wealth Conversion
Principle
Cash
Elements
to create
profit for
Inventories
business
Receivables
3S Requisites to
Prosperity
Squad Cash
Speed
Inventories
Receivables
Spread
1. Squad – business partners
human resource challenge
2. Spread – the difference between the
cost of the product when it is bought or
manufactured and the cost when it is sold;
also known as the margin
marketing challenge
3. Speed – system to manage the account
receivables effectively
operations and financial challenge
What are the Key Factors
for Success (KFS)?
3 Cs Key Factors to
Successful Entrepreneurship
Coordination
KFS
Commitment Competency
Commitment – strong drive to achieve
goals and objectives through focus and
proactive follow-through
Coordination – organization of different
people or groups coming from various
functions to attain efficiency
Competency – having a combination of
ability, attitude and behavior to do a
particular role or job repetitively well
4-Gate Model to
Prosperity
House of
Prosperity
Gate 4:
Self-Leadership
Gate 3:
Execution
Gate 2:
Marketing
Gate 1:
Preparation
Gate 1: Preparation
1. Money – cash component that creates the

cycle of wealth conversion and prosperity
2. Model – business model or the big picture
plan to generate sales revenues, profit, cash
flow, growth and how to scale up
3. Mentors – experienced advisers who can
add value to the entrepreneurs by giving sound
guidance to increase the competency, lessen
the risks, and help open more opportunities for
the entrepreneur to succeed
Gate 2: Marketing
4. Mindset – beliefs
5. Market – set of buyers that an
entrepreneur focuses attention
on
6. Message – brand positioning
that will be communicated to
persuade the target customers to
buy
Gate 3: Execution
7. Machinery – organization structure

that can deliver the value planned
8. Methods – systems and processes
that allow the entrepreneur
information and control
9. Management Skills – ability to
carry out the plans through people,
rewards and leadership
Gate 4 : Self- Leadership
10. Moving Forward – the grit to
continue the business despite
obstacles
11. Mission – purpose or reason why
the business exists beyond making
profit
12. Mastery – building capabilities,
knowing the knots and bolts of the
business well, and eliminating gaps in
the know-how
Entrepreneurship Key
Factors Matrix
Key Factors Preparation Marketing Execution Self-
for Success/ Leadership
4-Gate Model
Commitment Money Mindset Machinery Moving
Forward
Coordination Model Market Methods Mission
Competency Mentors Message Management Mastery
Skills
4 Cluster Capacity
Requirements
1. Intelligence Quotient/I.Q –
preparation; capacity to think and reason
2. Creativity Quotient/C.Q –
marketing; capacity to innovate
3. Emotional Quotient/E.Q. –
execution; capacity to sense and
empathize
4. Adversity Quotient/A.Q. – self-
leadership; capacity to recover and make
progress
Is entrepreneurship for
everyone?
7 Competencies of
Entrepreneurs
1. Risk Appetite – sees rewards for
taking opportunities that have potential
positive or negative consequences
2. Sensemaking – scanning the
environment to detect and interpret what
is happening today in order to connect
and take actions on potential future
outcommes
3. Customer-Focus – choosing, initiating
and sustaining relationships with
customers
4. Initiative – being proactive in taking
prompt actions to attain objectives
5. Influence – ability to use personal
branding and interpersonal styles to gain
buy-in from constituents
6. Adaptability – adjusting to external
changes while initiating internal changes
and attain objectives
7. Grit – persistency to attain long-term

goals despite adversity
Classification of
Competencies of
Entrepreneurs
Personal Interpersonal Business
Competencies Competencies Competencies
Risk appetite (IQ) Influence (EQ) Sensemaking (IQ)
Adaptability (AQ) Customer focus (CQ)
Grit (AQ)
Initiative (EQ)
Which is more important to

possess in entrepreneurship, IQ
or AQ?
4 Cs Competencies to be
Innovators
1. Creativity – forming a mental image or
new idea about the future
2. Critical Thinking – offering unique
ways to solve defined problems
3. Collaboration – developing
relationships with the right partners
4. Communication – engaging
constituents to make them understand
and accept your message
Types of Business
Organization
According to Nature of Ownership
1. Sole or single proprietorship – owned
by one person
Pros:
- Easiest form of business to start, set up and
dissolve
- Only a few legal requirements are involved
- All decisions are made by the owner and all
the profits go to him
- The owner is taxed, not the business
Cons:
- Has limited resources
- Liable to pay all business debts
- Bears all the losses
- Business only exists during the lifetime of
the owner
- Business is automatically terminated due
to death, insanity or imprisonment of the
owner
2. Partnership – owned by two or more
persons
- These persons agree to contribute
resources such as money, property, and
skills needed to operate the business
- They agree to divide profits among
themselves.
Pros:
- Also easy to form, but has more resources
than a single proprietorship.
- Subject to lesser government supervision
and can enjoy certain tax exemptions
Cons:
- A partner may be held liable for the action
of one partner
- The partnership can also be dissolved by
a change of partner due to disagreement
among partners and insanity or a death of
a partner
3. Corporation
– owned by shareholders who formed this
business as an artificial person under the
operation of law, specifically, by its Articles
of Incorporation and Corporate By-Laws
registered with the Securities and Exchange
Commission (SEC).
Pros:
- Shareholders are not liable for unpaid
debts of the corporation
- Can continue to exist even if shareholders
change, withdraw, or die
Cons:
- Very costly and difficult to organize
- Subject to more stringent government
supervision and is taxed at a flat rate
Please be ready for
a long quiz
next meeting 

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Entrepreneurship

At the end of the lesson, the students shall

2. Brings an idea to life

1. Money – cash component that creates the

7. Machinery – organization structure

7. Grit – persistency to attain long-term

Which is more important to

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