Introduction to Entrepreneurship PDF

ENTREP: Introduction to Entrepreneurship By: Estephany Gerona What and Who is an Entrepreneur a person who first plans, organizes and puts together all the resources required to bring a new enterprise into existence and to run and manage it on a long-term basis. *We can say a product is valuable whe...

ENTREP: Introduction to Entrepreneurship By: Estephany Gerona What and Who is an Entrepreneur a person who first plans, organizes and puts together all the resources required to bring a new enterprise into existence and to run and manage it on a long-term basis. *We can say a product is valuable when it solves a solution, and cost-effective (benefits outweighs the cost). Entrepreneurs are: Perceives business opportunities in the environment. Takes risks to make use of these business opportunities. Invest his own money or borrow money to use in the business. Innovator to make business better, efficient and more profitable. Planner and business decision maker. Generate profit for business. *In entrepreneurship is not always about money but the wellbeing of your consumer Rewards of Being an Entrepreneur: 1. 2. 3. 4. *Businesses are like people as they grow from baby to adult. Risk of Being of Entrepreneur: 1. Risk of failure 2. Long hours of hard work 3. Unwanted Responsibilities Entrepreneurship: Importance of Entrepreneurship to Country: *Provides experience, work (Help other people to provide for their family) Provider of Goods and Services for Satisfaction of Needs. Entrepreneurs Earn Profits That Help the Economy Grow. The Entrepreneurs Provide Jobs. Serves as an Inspiration to others. Non Dependance to Imported Products Stopping Influx to Urban Areas. A process of innovating new methods to produce products and services by infusing all resources. (UP-ISSI) A systematic innovation which consists in the purposeful & organized search for changes. (Peter Dracker) Types of Entrepreneurs: *Entrepreneurs are hands on. They always strive to improve. *Start business on your own savings, not on debt. Make your own Money. Be your own Boss. Express Creativity Gain Self Satisfaction Founder or pure Entrepreneurs o They conceptualize a business plan and put in effort to make a business. Second Generation Operators of Family-Owned Businesses o Individuals who inherited the business from their fathers and forefathers. Franchisees o The parent owner licenses his trademarks and tried and proves methods of doing business to a franchisee in exchange for a recurring partner. Owner-Manager o A person who buys a business from the founder and then invests in his time and resources in it. Types of Entrepreneurs as to style of Running Business: The Achiever - Personal drive to excel. Induced Entrepreneur (Govt. Policies, Unemployment, Family Support) o Idea Generator o Real Manager o Real Achievers Industrial Entrepreneurs - Into manufacturing of a product. Trading entrepreneurs - undertaking merchandising activities Corporate Entrepreneurs Demonstrates innovate skill in organizing and managing. Agricultural Entrepreneurs - Related to agricultural activities. Entrepreneurs-AS to Stages of Development First Generation Entrepreneurs Started the business by innovative skill. The innovator combines different technologies to produce a marketable product or service. Modern Entrepreneur - one who undertakes business top satisfy the contemporary demands, mostly ventures to satisfy socio-cultural trends. Class Entrepreneur - stereotype, more on economic returns for the survival of the firm. Other types… Innovative Entrepreneurship introduces new goods, inaugurates new methods of production, discovers new markets and recognizes the enterprise. Imitative Entrepreneur - adapt successful innovation, risk-adversive. What is your current condition? ‘’Desired Condition? The gap (Needs in the environment) between those two is your need (Space of innovation) Make a paper related to the field.