Entrepreneurship Essay Rubric PDF

RUBRIC FOR ESSAY Content The content was well-thought ,guide 4 questions were thoroughly answered Organization The paper was well-written with ideas 3 easily conveyed to readers. Development...

RUBRIC FOR ESSAY Content The content was well-thought ,guide 4 questions were thoroughly answered Organization The paper was well-written with ideas 3 easily conveyed to readers. Development Points are thoroughly developed 3 TOTAL 10 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- which means that because of entrepreneurships 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 relations with other people  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 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 what is 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- meaning the entrepreneur can be compensated by his profit coming from the operation. 4. Risk bearing –meaning 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. 2. Imitating entrepreneurs- they are those who don’t create new things but only follow the ideas of other entrepreneurs. 3. Fabian entrepreneurs- they are those skeptical. 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 in the various fields such as education, health, human rights, environment and enterprise development. Career Opportunities of Entrepreneurship 1. Business Consultant- with the expertise of the entrepreneur he can be a very good source of advices to other entrepreneurs and would be business man. 2. Teacher- a graduate of an entrepreneurship can be use his knowledge in teaching 3. Researcher- the entrepreneur can be employed as researcher by an enterprise. 4. Sales- the entrepreneurship graduate can apply as salesman 5. Business Reporter- the entrepreneur being expert in the field, he can be employed as business reporter. Types of Entrepreneurs 1. Innovative entrepreneurs- have the ability to think newer, better and more economical ideas. 2. Imitating- these are people who follow the path show by innovative entrepreneurs 3. Fabian Entrepreneurs- are skeptical about changes to be made in the organization.