Understanding Entrepreneurship - PPT Presentation

UNDERSTANDING ENTREPRENEURSHIP OBJECTIVES At the end of this lesson, student must be able to: 1. Define entrepreneur and entrepreneurship 2. Describe the salient features of entrepreneurship 3. Distinguish between entrepreneurial venture and ordinary small business activity...

UNDERSTANDING ENTREPRENEURSHIP OBJECTIVES At the end of this lesson, student must be able to: 1. Define entrepreneur and entrepreneurship 2. Describe the salient features of entrepreneurship 3. Distinguish between entrepreneurial venture and ordinary small business activity 4. Describe the importance of entrepreneurship 5. Identify sources of entrepreneurial ideas Have you ever imagine yourself becoming an entrepreneur? Art of observing correct practices in managing and operating a self- owned, wealth-creating business enterprise. What is ENTREPRENEURSHIP? Person who strongly advocates and correctly practices the concepts and principles of entrepreneurship in managing and operating a self-owned What is venture entrepreneurial an ENTREPRENEUR?  Art of Salient Features correct ENTREPRENEURSHIP practic es Opening Providin and g values managin to g self- custome rs Entrep owned business reneur ship Wealt Risk- h- takin creati g ng ventu ventu re re Entrepreneu rship is an art of correct practices The evolutionary processes happening in entrepreneurship are mainly due to the creativity and innovation born from business  Entrepreneurshi p is a wealth- creating Wealth is created venture when the value of the business has increased abundantly and the life of its owner has improved considerably.  Entrepreneurship provides valuable goods and Products services and services are valuable when they provide additional benefits to the buyers and users.  Entrepreneurship entails opening and managing self-owned enterprise It’s self-owned when the person managing its daily activities is also its owner. Entrepreneurship is a risk- taking venture Entrepreneurs operate within the concept of risk-taking because of uncertainty.  Importance of Entrepreneurship To the filipinos 1. Provides guidelines in their wealth-creating venture 2. Helps improve their financial and social lives 3. Helps broaden their creativity 4. Helps make their lives happy, fruitful and successful  Importance of Entrepreneurship To the local community 1. Provides employment 2. Creates new demand 3. Contributes to the raising and collection of taxes 4. Facilitates movement of the factors of production 5. Creates business opportunities 6. Promotes peaceful and loving community 7. Increases constructive competition  Importance of Entrepreneurship To the economy 1. Encourages competitiveness 2. Helps find an entrep niche in the world market 3. Helps hasten economic recovery process 4. Facilitates smooth flow of money in the local market 5. Assists national government in its desire to have favorable econ ratings in the world  AREAS ENTREPRENEURS ORDINARY HIP SMALL BUSINESS Motive in opening a wealth-creation source of livelihood business Perception of risk inherent deterrent in the business Reaction to reacts positively passive and static changes in the environment View on a sign of healthy unhealthy element competition economic in the business environment Vision for aligns daily relies upon chance development and business activities or luck growth in the attainment of the plans Horizon of business has both local and centered only on operation global perspectives the local environment Activity: Make a comic strip on the differences between entrepreneurship and ordinary small business activity based on the 7 areas presented.