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Quarter 1 Week-1-Entrepreneurship (1).pptx
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- 7. 1st Quarter Week1 ENTREPRENEURSHIP
- 8. OBJECTIVES At the endof the lesson, you are expected to be able to discuss principles and strategies in identifying business opportunities and explore business or career opportunities.
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- 10. PERSONAL ENTREPRENEURIAL COMPETENCIES (PECs) Theterm "ENTREPRENEURIAL COMPETENCIES" refers to the key characteristics that should be possessed by successful entrepreneurs in order to perform entrepreneurial functions effectively.
- 11. Entrepreneurship ● Process ofcreatively converting ideas into goods and services which can be marked to obtain profit and to contribute in improving the people’s quality of life.
- 12. Entrepreneur ● People whohave the ability to analyze and evaluate business opportunities.
- 13. ● The EntrepreneurialPersonality: ● Classic entrepreneur: Bill Gates, Sam Walton ● Loner, socially isolated ● Hard worker ● Fast learner ● Risk-taker seeking wealth
- 14. Rewards of Goinginto Business or Entrepreneurship 1. Having unlimited opportunity to make money. 2. Being your own boss. 3. Tapping your creativity. 4. Overcoming challenges and finding fulfillment. 5. Helping others. 6. Building an entrepreneurial legacy.
- 15. Risks of Goinginto Business or Entrepreneurship 1. Possibility of Failure 2. Unpredictable business conditions 3. Long hours of work 4. Unwanted or unexpected responsibilities
- 16. The need forachievement (n Ach) ● Achievement motive - drive to do well, strive for excellence and overcome challenges and obstacles in the pursuit of goal. The need for Power (n Pow) ● Power motive - drive to control, influence and to have impact on others and change the situations. The need for affiliation (n Aff) ● Affiliation motive - drive to establish, maintain or renew affective relationship with others. Entrepreneurial Motivation
- 17. 3 Clusters ● Achievement ●Planning ● Power
- 18. Achievement Cluster 1. Persistence– does not give up easily ● Makes sacrifices ● Takes repeated action to solve problems ● Not overwhelmed by obstacles and barriers ● Maintains positive outlook 2. Seizing Opportunity- takes advantage of all business opportunities available ● You are after new advances to satisfy the consumers
- 19. 3. Commitment –accepts full responsibility for problems encountered ● Helps employees to get the job done ● seeks to satisfy the customer 4. Risk Taking – prefers situations involving moderate risks 5. Concern for quality and efficiency-always strives to raise standards ● Aims excellence ● Strives to do things better, faster, cheaper
- 20. Planning Cluster 1. GoalSetting – sets clear long term goals 2. Information seeking – personally seeks information on clients, suppliers and competitors ● Seeks expert for business and technical advice 3. Systematic Planning and Monitoring – develop logical step-by step plan to reach goal ● Works into alternatives and weighs them ● Monitors and shifts alternative strategies when necessary to achieve goals
- 21. Power Cluster 1. Persuasionand networking – uses business and personal contact to accomplish objectives. ● Employs deliberate strategies to influence or persuade others. 2. Self-confidence – believes in ones self. ● Expresses confidence in own ability to complete difficult task or challenges.
- 22. What makes anentrepreneur run a successful business? Is it -SKILL? EFFORT? LUCK? Entrepreneurial success = behaviours (effort+skill+luck) PEOPLE CREATE OUTSTANDING PERFORMANCE through Going beyond the norm Teamwork CREATIVITY - INFLUENCING -PERSISTANCE - RESULTS
- 23. GENERATING BUSINESS IDEAS Haveyou ever thought of putting up your own business?
- 24. Young as youare, I know you have better and creative ideas in mind. With the resources that you have now and the kind of situation we are all in, especially during this pandemic, you can make most of them and start
- 25. ▪ Entrepreneurship hasbrought great success to some people, but it is not a career path for all. ▪ As a person, you can develop your character and personality and how to respond to some business challenges and opportunities. ▪ You can make things happen by identifying the opportunities
- 26. You may askyourself these questions: ▪ What do people need? ▪ What products and services are available in the market today? ▪ Can they be improved? ▪ How are they made or delivered? ▪ Can things be done better, cheaper, faster, and cleaner? ▪ Can a product used for a specific purpose be also used for some other purposes?
- 27. To be asuccessful entrepreneur, developing your personal characteristics and skills is necessary.
- 28. THE FOLLOWING PRESENTATIONSEXPLAIN THE KEY CONCEPT OF ENVIRONMENT AND MARKET, WAYS OF GENERATING BUSINESS IDEAS, AND SELECTING THE RIGHT IDEA.
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- 32. Available technology Demography of clients &suppliers Competitors TANGIBLE
- 33. Economic & Government Activity Sub-Culture INTANGIBLE
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- 43. - BRIAN HERBERT “Thecapacity to learn is a gift, the ability to learn is a skill, the willingness to learn is a choice.”