Introduction to Entrepreneurship PDF

INTRODUCTION TO ENTREPRENEURSHIP By Ms. Jizil B. Pacas, MBA  LEARNING OUTCOMES: At the end of this lesson, the students should be able to: 1. Define Entrepreneur and Entrepreneurship; 2. Differentiate Businessman and Entrepreneur; 3. Assess the traits/characteristics of an Entrepreneur; and 4...

INTRODUCTION TO ENTREPRENEURSHIP By Ms. Jizil B. Pacas, MBA  LEARNING OUTCOMES: At the end of this lesson, the students should be able to: 1. Define Entrepreneur and Entrepreneurship; 2. Differentiate Businessman and Entrepreneur; 3. Assess the traits/characteristics of an Entrepreneur; and 4. Apply the 10 Principles of Entrepreneurship and the Life Principle of Henry Sy Sr. What is an Entrepreneur? An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. ENTREPRENEUR It is derived from the French “entreprendre”, meaning “to undertake.”  ENTREPRENEUR An entrepreneur is an innovator or developer who (1) recognizes and siezes opportunities; (2) converts those opportunities into workable/ marketable ideas; (3) adds value through time, effort, money, or skills; (4) assumes the risks of the competitive marketplace to implement these ideas; and (5) realizes the rewards from these efforts.  DIFFERENCE BETWEEN BUSINESSMAN AND ENTREPRENEUR Mindset Involvement in day-to-day operations Approach to innovation Risk-taking behavior Approach to failure Vision for the future Approach to challenges Approach to competition Focus on innovation Relationship with money FAMOUS ENTREPRENEURS IN THE WORLD What is Entrepreneurship? Entrepreneurship is the process of starting and developing a company, with the aim of delivering something new or improved to the market, or by organizing the means of production in a superior way.  ENTREPRENEURSHIP It is a dynamic process of vision, change, and creation. It requires an application of energy and passion toward the creation and implementation of innovative ideas and creative solutions. Filipino Entrepreneur He’s the retail giant behind the SM Group of Companies and is also among Forbes.com’s billionaire list with American bigwigs like publishing tycoon William Hearst III, hotelier Richard Mariott, and mediamogul Oprah Winfrey. The richest man in the country credits his success to “hard work, tenacity, frugality, self-discipline, Confucian values, and an undying thirst for learning," according to Entrepreneur. “I don’t give up on things easily,” the 85 - year - old says. “I look for solutions to problems. SM Group of Companies I want to make things happen.”  KEY TAKE AWAY Definition of Entrepreneur and Entrepreneurship; Difference between Businessman and Entrepreneur; Different traits/characteristics of an Entrepreneur; and The 10 Principles of Entrepreneurship and the Life Principle of Henry Sy Sr. THANK YOU