Entrepreneurship Week 1 Overview

Entrepreneurship Week 1

• The presentation is from Laguna College of Business and Arts, focusing on entrepreneurship for week one.
• Class rules are outlined:
  • Stay silent and wait to be called.
  • Mute microphones to minimize distractions.
  • Learners may approach teachers politely with ideas.
  • Pay attention to the slides and teacher's discussion.
  • Enjoy the learning process.

Learning Objectives

• Learners will understand the significance and economic effect of entrepreneurship.
• Learners will understand the definition of an entrepreneur.
• Learners will explore fundamental and core competencies in entrepreneurship.

Nature and Relevance of Entrepreneurship

• The Philippines is a suitable environment for entrepreneurship due to various, plentiful resources in a developing country.
• Entrepreneurs have the potential to reshape the global economic landscape.

What is Entrepreneurship?

• Entrepreneurship is a proactive process of creating a profitable business venture.
• This involves identifying market opportunities and starting, running a business based on that opportunity.
• Entrepreneurs need to assess the risks and rewards of the business through meticulous monitoring.

Who is an Entrepreneur?

• The word Entrepreneur comes from the French word "entre," meaning "between" and "prendre," meaning "take."

An Entrepreneur

• Entrepreneurs are unique individuals with innate ability and dedication.
• They establish and manage businesses, recognizing and taking advantage of risks and rewards.

Relevance of Entrepreneurship and Entrepreneurs in Economic Development and Society

• Globally, entrepreneurial activity substantially contributes to economic growth in various countries.
• Entrepreneurship has various economic and social benefits:

Contributions of Entrepreneurship

• Creating employment opportunities.
• Enhancing the quality of life.
• Establishing new markets.
• Introducing innovation.
• Generating new sources of materials.
• Stimulating interest in new business ventures.
• Providing more options for consumers.
• Serving as role models.
• Contributing to social welfare.
• Utilizing and mobilizing indigenous resources.

This quiz covers the key concepts introduced in Week 1 of the Entrepreneurship course at Laguna College of Business and Arts. Learners will explore the definition of an entrepreneur, the importance of entrepreneurship in the economy, and the core competencies essential for aspiring entrepreneurs. Engage with the materials and solidify your understanding of these foundational ideas.