ENTREP-Q1M1.pptx

Entrepreneurship SAMSON ALBERT D. SALAS Regional Science High School For Region 02 Entrepreneurship As a CAREER SAMSON ALBERT D. SALAS Regional Science High School For Region 02 OBJECTIVES At the end of this lesson, you are expected to: Discuss the relevance of the cou...

Entrepreneurship SAMSON ALBERT D. SALAS Regional Science High School For Region 02 Entrepreneurship As a CAREER SAMSON ALBERT D. SALAS Regional Science High School For Region 02 OBJECTIVES At the end of this lesson, you are expected to: Discuss the relevance of the course; Explain the key concepts of common competencies. What is the importance of entrepreneurship in the daily life of the students? Relevance of Entrepreneurship to an Organization 1. Development of Managerial Capabilities This means that one of the benefits an entrepreneur gets is to developed his managerial skills. Relevance of Entrepreneurship to an Organization 2. Creation of Organizations Which means that because of entrepreneurship many organizations will exist. Relevance of Entrepreneurship to an Organization 3. Improving Standard of Living This means that entrepreneurship can lift-up the economic status of an individual. Relevance of Entrepreneurship to an Organization 4. Means of Economic Development This means that not only the life of an entrepreneur is improved but also the society where the business is located. Let’s Define First: Entrepreneurship Entrepreneur Concept of Entrepreneurship  The word “entrepreneur” was derived from the French verb enterprendre, which means “to undertake.”  This is pinpoint to those who “undertake” the risk of enterprise.  The enterprise is created by an entrepreneur and the process is Concept of Entrepreneurship innovators willingto take the risks generate unique ideas provide profitable solutions needs of the market and the society. Entrepreneurs As A Career Entrepreneurship is the process of designing, launching, and running a new business which is often initially a small business. Entrepreneurs As A Career Entrepreneur isa person who recognizes opportunities and gaps in the market. the people who own, operate, and take risk of business venture. Entrepreneur VS Employees  Factors Affecting Entrepreneurship 1. Personality factors which include: a. Initiative  Doingthings even before being told. b. Proactive  Whichmeans he can classify opportunities and seize it.  Factors Affecting Entrepreneurship 1. Personality factors which include: c. Problem Solver  Whichmeans he can retain good relations with other people. d. Perseverance  Meaning he will pursue things to get done regardless of challenges.  Factors Affecting Entrepreneurship 1. Personality factors which include: e. Persuasion  Means that he can entice people to buy even if they don’t want to. f. A Planner  He makes plans before doing things and does not fail to monitor it.  Factors Affecting Entrepreneurship 1. Personality factors which include: g. Risk-taker  Which means that he is willing to gamble but he will calculate it first.  Factors Affecting Entrepreneurship 2. Environmental Factors  Include political, climate, legal system, economic and social conditions and market situations.  Common Competencies of Entrepreneurship 1. Decisive  An entrepreneur must be firm in making decisions. 2. Communicator  Anentrepreneur must have a convincing power.  Common Competencies of Entrepreneurship 3. Leader  An entrepreneur must have the charisma to be obeyed by his employees. 4. Opportunity Seeker  Anentrepreneur must have the ability to be the first to see business chances.  Common Competencies of Entrepreneurship 5. Proactive  An entrepreneur can control a situation by making things happen or by preparing for possible future problems. 6. Risk Taker  An entrepreneur has the courage to pursue business ideas.  Common Competencies of Entrepreneurship 7. Innovative  Theentrepreneur has a big business ideas and he does not stop improving and thinking a new worthwhile ideas for his 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 The entrepreneur constantly looks for new ideas, thus he needs to be creative.  Core Competencies in Entrepreneurship 3. Profit Potential  The entrepreneur can be compensated by his profit coming from the 4. Risk bearing operation.  The entrepreneur needs to gamble but wise enough to offset the risk. Types of Entrepreneurs 1. Innovative Entrepreneurs  always make new things by thinking of new ideas. have the ability to think newer, better 2.Imitating and more economical ideas. Entrepreneurs  those who don’t create new things but only follow the ideas of other entrepreneurs. Types of Entrepreneurs 3. Fabian Entrepreneurs  They are skeptical about changes to be made in the organization.  They don’t initiate but follow only after they are satisfied. 4. Drone Entrepreneurs  They are those who live on the labor of others.  They are die-hard conservatives even ready to suffer the loss of business.  They do not want changes Types of Entrepreneurs 5. Social Entrepreneurs  They are those who initiate changes and drive social innovation and transformation in the various fields such as education, health, human rights, environment and enterprise development. 2 Major Objectives of Social Entrepreneurship 1. To solve societal problem 2. To earn a profit.  Career Opportunities of Entrepreneurs 1. Business Consultant  He/she can be a very good source of advices to other entrepreneurs and would be a business men. 2. Teachers  He/she can use his/her knowledge in teaching.  Career Opportunities of Entrepreneurs 3. Researcher  canbe employed as a researcher by an enterprise. 4. Sales  can apply as a salesman. 5. Business Reporter  Canbe employed as a business reporter.  Entrepreneurial Job Opportunity 1. Sales Person  refers to a person who works on sales.  This person has excellent marketing strategies to persuade 2. Mid-level customers. Management  This career converts an idea into execution.  Entrepreneurial Job Opportunity 3. Business Advisor  Entrepreneur graduates can help business investment to identify problems and fix them. 4. Research and They have the training that helps identify  things that others may not pick up on. Development  Entrepreneur is prepared for this position.  Trainings and education acquired is an advantage of an entrepreneurship graduate.  They are able to understand business concepts, procedures and practices.  Entrepreneurial Job Opportunity 5. Teacher  Entrepreneurship graduate can teach core competency (math, history, literature) in entrepreneurial side.  The teacher can teach them the benefit of math in business, history to innovation, and literature to persuasive writing. 6. Recruiter  Entrepreneurship degree holder had undergone subjects such as operations management, leadership and people savvy therefore they are able to choose what type of person is needed to fulfill a position.  Entrepreneurial Job Opportunity 7. Business Reporter  They can write articles. They can understand the field and concepts and can use their knowledge to make business section much more 8.Small Entrepreneurial interesting and telling. Management  They can manage the operation of business and apply several entrepreneurial knowledge.  Entrepreneurial Job Opportunity 9. Management Analyst  They provide analytical services to companies to coordinate projects efficiently and effectively. Entrepreneurial Traits 1. Risk Taker  Successful entrepreneurs have a risk tolerance.  They are willing to do things that involve danger in order to achieve the 2. Innovative goal.  Entrepreneurs think differently from anyone else.  They can create innovative products according to changing demands of the market. Entrepreneurial Traits 3. Creativity  An entrepreneur can develop new ideas and to discover new ways of looking at problems and opportunities. 4. Problem Solving Skills  Successful entrepreneurs take a problem as a challenge and put in their best in finding out the most appropriate solution for the same. Entrepreneurial Traits 5. Self-confidence  Entrepreneurs have confidence in themselves and in their business.  They believe in their ability and ideas even they face rejection along their 6. Optimistic way.  Successful entrepreneurs are always showing hope for the future. Entrepreneurial Traits 7. Planner  Entrepreneurs develop future course of action keeping in mind the goals to be realized.  They believe that developing realistic plan can ensure proper execution for attaining 8. With clear vision their goals.  Successful Entrepreneurs have a clear vision of what their business will be.  They can create a big picture the purpose, goals and market position of the business.  They can do strategic planning. Entrepreneurial Traits 9. Patience  Successful entrepreneurs believed that they can change the world.  There’s an excitement and belief in what they are doing that gets them through the hard times. 10. Resilience  No matter how successful the business is, there will be bumps along the road.  A successful entrepreneur is resilient and can bounce back from a setback.  They understand that failure is part of the game. Entrepreneurial Traits 11. Agility  Entrepreneurs are able to treat every problem they encounter and they address it without taking too long.  They remain proactive and vigilant, preventing small problems from becoming 12. Passion major ones.  Entrepreneurs work hard for their business, they put their long hours doing job that they love to do.  It drives them to keep working to achieve their vision. Entrepreneurial Traits 13. Flexibility  Theyare able to adopt to change and solve problems as they arise.  Theyare receptive to other people’s needs, opinions, and ideas and being open-minded to feedback from the other. Activity 1. Interview the Known Choose three successful entrepreneurs in your community or nearby places and conduct an interview using the guide questions below. Discuss the result of your interview to your teacher. 1. What motivate you to become an entrepreneur? 2. What do you think are the characteristics and competencies that made you a successful entrepreneur? 3. What do you think of being employed? Why you did not choose that path?