ENTREP-Lesson-1-PPT (2).pptx

1  RELEVANCE, KEY CONCEPTS AND COMMON COMPETENCIES OF ENTREPRENEURSHIP  LEARNING TARGETS At the end of the discussion, you will be able to: demonstrates understanding of key concepts, underlying principles, and core competencies in Entrepreneurship...

1  RELEVANCE, KEY CONCEPTS AND COMMON COMPETENCIES OF ENTREPRENEURSHIP  LEARNING TARGETS At the end of the discussion, you will be able to: demonstrates understanding of key concepts, underlying principles, and core competencies in Entrepreneurship 3  RELEVANCE OF QUESTION 1: STUDYING Why do we need to study Entrepreneurship? ENTREPRENEURSHIP The Entrepreneur and Entrepreneurship Entrepreneur ✔ is the one who undertakes entrepreneurial activities, and who creates unique ideas that will be effective for starting a business. ✔ is also the one who identifies the needs of his/her expected clients, offering a business solution, assembles the resources needed, and assumes all the risks of succeeding or failing. 4  RELEVANCE OF QUESTION 1: STUDYING Why do we need to study Entrepreneurship? ENTREPRENEURSHIP The Entrepreneur and Entrepreneurship Entrepreneurship ✔ Refers to economic activity that a person starts, manages, and assumes the risk of a business. ✔ It is also a process of converting processed ideas into an exciting business endeavor. 5  QUESTION 1: WHY STUDY Why do we need to study ENTREPRENEURSHIP? Entrepreneurship? The following will be our benefits in studying entrepreneurship: ✔ It will boost your entrepreneurial interest ✔ It helps you to discover your potential in the field of business ✔ It develops your higher order thinking skills upon creating unique and attainable plan ✔ You will be able to come up with a comprehensive business plan 6  QUESTION 1: HOW WILL THIS SUBJECT Why do we need to study BENEFECIAL FOR YOU? Entrepreneurship? ✔ develop your skills in starting a business; ✔ improve your knowledge on how to effectively operate and manage a business; ✔ motivate you to become an employer rather than an employee; ✔ make you creative enough and gain profit from it; and ✔ change your personal character and career attitudes. 7  QUESTION 1: ENTREPRENEURSHIP: KEY Discuss the key concepts CONCEPTS AND COMPETENCIES and common competencies of entrepreneurship? HOW IMPORTANT IT IS TO HAVE A GOOD BACKGROUND IN ENTREPRENEURSHIP? The following are the significance of studying Entrepreneurship: ✔ Entrepreneurship plays as a key economic driver. It leads on wealth creation through the micro businesses started by those entrepreneurial-minded individuals. Also, it opens opportunities for many people. 8  QUESTION 1: ENTREPRENEURSHIP: KEY Discuss the key concepts CONCEPTS AND COMPETENCIES and common competencies of entrepreneurship? HOW IMPORTANT IT IS TO HAVE A GOOD BACKGROUND IN ENTREPRENEURSHIP? ✔ Entrepreneurship is considered to be a life long process. Thus, it helps to increase person’s level of knowledge and competence for them to improve their quality of life. ✔ Entrepreneurship helps you as a student to think of an alternative career path at any time of your life. 9  QUESTION 1: ENTREPRENEURSHIP: KEY Discuss the key concepts CONCEPTS AND COMPETENCIES and common competencies of entrepreneurship? Points to consider: Businessman and entrepreneur have differences in terms of idea generation. A businessman begins with an existing idea or concept of business while an entrepreneur starts a business from his/her own unique idea or concept. 10  COMMON COMPETENCIES OF ENTREPRENEURSHIP For you to success in your future business, you must possess the following competencies COMPETENCIES DESCRIPTION 1. Specific Goal Entrepreneurs should set a SMART Setting (Specific, Measurable, Attainable, Realistic and Time-bounded) goal, for them to succeed in their business. 11  COMMON COMPETENCIES OF ENTREPRENEURSHIP For you to success in your future business, you must possess the following competencies COMPETENCIE DESCRIPTION S 2. Self-Efficacy Entrepreneurs must believe in their selves. With high self-efficacy, negativities will be transformed into an opportunity that lead them to improvement. 12  COMMON COMPETENCIES OF ENTREPRENEURSHIP For you to success in your future business, you must possess the following competencies COMPETENCIE DESCRIPTION S 3. Ambition Entrepreneurs must have the courage and determination in achieving their goals. 13  COMMON COMPETENCIES OF ENTREPRENEURSHIP For you to success in your future business, you must possess the following competencies COMPETENCIE DESCRIPTION S 4. Willingness to Entrepreneurs should be open- Learn minded and are eager to learn even from their mistakes. 14  COMMON COMPETENCIES OF ENTREPRENEURSHIP For you to success in your future business, you must possess the following competencies COMPETENCIE DESCRIPTION S 5. Adaptive and Entrepreneurs must learn to adapt Flexible things that are vital in their business, and can manage change well even with the undesirable situations. 15  COMMON COMPETENCIES OF ENTREPRENEURSHIP For you to success in your future business, you must possess the following competencies COMPETENCIE DESCRIPTION S 6. Risk-Taker Entrepreneurs must be willing to accept every consequences of their decisions. They must also know how deal the risk, and are capable to develop new plans. 16  COMMON COMPETENCIES OF ENTREPRENEURSHIP For you to success in your future business, you must possess the following competencies COMPETENCIE DESCRIPTION S 7. High Entrepreneurs must know how Interpersonal to effectively deal with people/ clients. Skills They should have patience especially in the clientele’s behavior. 17  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS The common entrepreneurial competencies will only engage you in a business but not guarantees success. For that reason, you should be able to learn and apply the competencies for entrepreneurial success. These will truly help you in becoming a successful entrepreneur. 18  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 1. Integrity An entrepreneur should Edward Stark is an embody positive sense of entrepreneur who always values and self- considers the best for his confidence, specifically in costumers, and whenever times of difficulties and he encounters dilemma, challenging situations. he never makes decisions without thinking it critically. 19  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 2. Conceptual The entrepreneur should be Jon is an entrepreneur who Thinking open to new tactics and always reviews the outcome critical analyses that may of his business and analyze enhance work and will lead the problem that may occur. to significant After identifying the improvements. problem, Jon is able to propose solutions that would benefit his employee and costumers. 20  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 3. Risk-taking The entrepreneur must Robb is a kind of predict future conflicts, entrepreneur who and should be able to always face his fears, know how to solve and is open-minded for problems that may what ever come. consequences may come. 21  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 4. Collaboration Entrepreneurs should Bran is a kind of employer know how to work with who always communicates other people/ groups of with his employees and people to attain common business partners to goals. discuss comprehensively their current achievements and future plans. 22  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 5. Strategic Entrepreneurs must be Cersie always find ways Thinking a critical thinker that to do things faster at have strategic ways to lesser costs. accomplish goals. 23  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 6. Commercial The entrepreneur should Jaime is an entrepreneur Aptitude be updated with the who always checks the happenings in the locality, social media for current and able to response to it business trends related to effectively. his business. Later, he will apply his learnings to better improve his business. 24  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 7. Decisiveness Entrepreneurs should Reckon is a kind of know how to walk with entrepreneur that has his words and make an alternative way to certain choices to reach his goal. resolve issues quickly. 25  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 8. Optimism An entrepreneur Daenerys don’t mind should always think the unfortunate things positively even in the happen and just take times of difficulties. the lessons that she learned from her experience. 26  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 9. Customer The entrepreneur Arya is an entrepreneur Relations should know how to who always believe in Service give trust and long term the saying “Costumer is relations with always right.” So, costumers. whatever it takes Arya always do her best to satisfy her costumers. 27  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS COMPETENCIE DESCRIPTION EXAMPLE S 10. People- Entrepreneur should Sansa knows how and centered know how to motivate when to show people, see and value empathy. Hear the best of others. someone and listen actively to everyone. 28  10 COMPETENCIES FOR ENTREPRENEURIAL SUCCESS Points to consider: The common competencies are the skills that will help you in starting a business. On the other hand, the competencies for entrepreneurial success are the skills that you need to be a successful entrepreneur. 29  BIBLICAL INSIGHT: Entrepreneurs/ those who are planning to become an entrepreneur must be watchful for opportunities around that lead to a bountiful harvest. This verse also reminds us about the virtue of willingness to work or to start a business. On the other hand, it also emphasizes about working in season, this refers to the perfect opportunity to start a business. For you as a student, maybe this is not yet the season for you, but one thing is for sure, this is the season where you need to learn for you to succeed in life. “Sluggards do not plow in season; so at harvest time they look but find nothing.” Proverbs 20:4 30  Any Questions or clarifications? 31