Introduction to Entrepreneurship PDF

Introduction to Entrepreneursh ip A big business starts small  Guess Who? 01/18/2025 Introduction to Entrepreneurship 2  Guess Who? 01/18/2025 Introduction to Entrepreneurship 3  Agenda 1. RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION...

Introduction to Entrepreneursh ip A big business starts small  Guess Who? 01/18/2025 Introduction to Entrepreneurship 2  Guess Who? 01/18/2025 Introduction to Entrepreneurship 3  Agenda 1. RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION 2. Concept of Entrepreneurship 3. Factors Affecting Entrepreneurship 4. Common Competencies in Entrepreneurship 5. Types of Entrepreneurs 6. Career Opportunities of Entrepreneurship 01/18/2025 Introduction to Entrepreneurship 4  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 entrepreneurship many organizations will exist. 01/18/2025 5  RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION 3. Improving Standard of Living - this means that entrepreneurship can lift 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. 01/18/2025 6  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. They are willing to take the risks and generate unique ideas that can provide profitable solutions to the needs of the market and the society. 01/18/2025 7  “ Business opportunities are like buses. There's always ” another one coming. Richard Branson 01/18/2025 INTRODUCTION TO ENTREPRENEURSHIP 8  Factors Affecting Entrepreneurship 1. Personality Factors 2. Environmental Factors which include: A. Initiative which include B. Proactive political, climate, C. Problem solver legal system, D. Perseverance economic and social E. Persuasion conditions and F. A planner market situations. G. Risk-taker 01/18/2025 PRESENTATION TITLE 9  Common Competencies in Entrepreneurship Decisive Communicator Leader an an an entrepreneur entrepreneu entrepreneur must be firm r must have must have the charisma to in making a convincing be obeyed by decisions. power. his employees. 01/18/2025 PRESENTATION TITLE 10  Common Competencies in Entrepreneurship Opportunity Proactive Innovative seeker an an entrepreneur the can control a entrepreneur entrepreneur situation by must have the has big business making things ideas, and he ability to be happen or by does not stop the first to see preparing for possible future improving and business problems. thinking of new chances. worthwhile ideas for his business. 01/18/2025 PRESENTATION TITLE 11  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. 01/18/2025 PRESENTATION TITLE 12  Core Competencies in Entrepreneurship 3. Profit Potential - The entrepreneur can be compensated by his profit coming from the operation. 4. Risk bearing – The entrepreneur needs to gamble but wise enough to offset the risk. 01/18/2025 PRESENTATION TITLE 13  Types of Entrepreneurs 1. Innovative Entrepreneurs - They are those who always make new things by thinking of new ideas. They can think newer, better and more economical 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 skeptical about changes to be made in the organization. They don’t initiate but follow only after they are satisfied. 01/18/2025 14  Types of Entrepreneurs 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. 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. 01/18/2025 15  Career Opportunities of Entrepreneurship 1. Business Consultant - with the expertise of in the field of entrepreneurship, he can be a very good source of advices to other entrepreneurs and would be businessmen. 2. Teacher - a graduate of an entrepreneurship can use his knowledge in teaching.  Career Opportunities of Entrepreneurship 3. Researcher - the entrepreneur can be employed as a researcher by an enterprise. 4. Sales - the entrepreneurship graduate can apply as a salesman. 5. Business Reporter - the entrepreneur being expert in the field, can be employed as a business reporter.  Q and A Session 1. What are the characteristics of an entrepreneur? 2. Why taking risks is a factor in setting up a business? 01/18/2025 18  Activity 1: Self-assessment 01/18/2025 19  PETA 1: Interview the Known Directions: Interview a successful entrepreneur in your community or nearby places using the guided questions below. Attached pictures while doing the interview. 1. What motivated you to become an entrepreneur? 2. What do you think are your characteristics and competencies that made you a successful entrepreneur? 3. What do you think of being employed? Why did you not choose that path? 01/18/2025 20