INTRODUCTION TO
ENTREPRENEURSHIP
General Concepts
The ENTREPRENEUR
Innovative
Creative
Opportunity seekers
Differ from a business person
Entrepreneur
The term entrepreneur was derived from “entreprendre”, a
French word which means “to undertake” (Aduana, 2016).
An entrepreneur is a person who sets up a business with the aim
to make a profit.
A person who undertakes the risk of starting a new business
venture is called an entrepreneur.
An entrepreneur creates a firm to realize their idea, known as
entrepreneurship, which aggregates capital and labor in order to
produce goods or services for profit.
ENTREPRENEURSHIP
the term entrepreneurship is an art of observing correct practices
in managing and operating a self-owned wealth creating business
enterprise by providing goods and services that are valuable to
the customers (Aduana, 2016).
Entrepreneurship is the act of creating a business or businesses
while building and scaling it to generate a profit.
Why do we need to study
Entrepreneurship?
Five Salient Features of
Entrepreneurship
INTRODUCTION TO
ENTREPRENEURSHIP
A small business and
entrepreneurship have a lot
in common but they are
different, Entrepreneurship is
one of the resources
economists categorize as
integral to production, the
other three being
land/natural resources,
labor, and capital
THE IMPACTS OF ENTREPRENEURSHIP TO THE
FOLLOWING…
To the Filipino People
1. It gives guidelines in the entrepreneur’s wealth
creating undertakings.
2. It aids in improving financial and social life.
3. It helps expand their creativity.
4. It brings about happiness, productiveness and success
in entrepreneur’s life.
To the Local Community
1. It offers opportunity for employment in the community.
2. It produces new demand in the market.
3. It contributes to increase in tax collection.
4. It accelerates the movement of different factors of production.
5. It gives birth to new business opportunities.
6. It promotes a harmonious and loving community.
7. It boosts constructive competition.
To the Philippine Economy
1. It promotes competitiveness, thus challenging entrepreneurs to
continue improving their products and services.
2. It aids in identifying an entrepreneurial niche in the international
market.
3. It helps speed up economic recovery process of the country during
financial turmoil or breakdown.
4. It facilitates ease of money flow in the local market.
5. It supports the Philippine government in its yearning to have
advantageous economic ratings in the international market.
Personal Entrepreneurial
Competencies
Hard working Has Initiative
Self Confident
Disciplined Profit-oriented
Committed Creative
Ability to accept change
Important Skills of an
Entrepreneur
1. Planning
2. Decision Making
3. People Skills
What will be the
possible ways on how you can start your
road to millions?
New Venture Creation
Careers in Existing Entrepreneurial Venture
Mid-level management
Business consultant
Sales
Research and development
Not-for-profit fundraiser
Teacher
Recruiter
Business reporter
Assignment:
What entrepreneurial competencies do you think you have? Explain each
competency.
Do you see entrepreneurship as one of your possible career? Yes or no.
Explain your answer.
