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ENTREP Week 1 2 2

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14 views14 pages

ENTREP Week 1 2 2

Uploaded by

trixiereportoso
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Introduction to

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

Entrepreneurs are encouraged by the


economy because they can provide a lot of
opportunities for the unemployed young people. It
will increase in per capita income, higher
standard of living and increased individual
saving, revenue to the government in the form of
income tax, value added tax, export duties,
import duties, and balanced regional
development
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 - this means that


because of entrepreneurship many organizations will
exist.

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.
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,


willing to take risks and generate new
ideas to make it unique and profitable
solutions to the present-day problems.
Factors Affecting
Entrepreneurship
1. Personality Factors which
includes:

a. Initiative - which means


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
Factors Affecting
Entrepreneurship
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.
f. A Planner - meaning he
makes plan before doing things
and do 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 - controlling a situation by making things to happen
or by preparing for possible future problems.
6. Risk Taker - they have the courage to pursue their business
ideas.
7. Innovative - the entrepreneurs have big business ideas and
they do not stop improving and thinking of new worthwhile ideas
for their 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 - Entrepreneurs constantly look 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 entrepreneur
- 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.
Types of 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 entrepreneur - They are those


who lives 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
Career Opportunities of
Entrepreneurship 
with the expertise of in the field of
1. Business Consultant entrepreneurship, he can be a very
good source of advices to other
entrepreneurs and would be
business man.

 a graduate of an entrepreneurship
2. Teacher
can use his knowledge in
teaching.

 the entrepreneur can be


3. Researcher employed as researcher by an
enterprise.
Career Opportunities of
Entrepreneurship
 the entrepreneurship graduate can
4. Sales
apply as salesman.

 the entrepreneur being expert in


the field, he can be employed as 5. Business Reporter
business reporter.

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