Introduction To Entrepreneurship PDF

INTRODUCTION TO ENTREPRENEURSHIP  DAY 1: OBJECTIVES DIFFERENTIATE CREATIVITY 01 AND INNOVATION EXPL AIN BUSINESS CONCEPTS, 02 TERMINOLOGIES, AND UNDERSTANDING 03 KNOW HOW ENTREPRENEURSHIP PL AYS AN IMPORTANT ROLE IN ECONOMIC DEVELOPMENT WAR...

INTRODUCTION TO ENTREPRENEURSHIP  DAY 1: OBJECTIVES DIFFERENTIATE CREATIVITY 01 AND INNOVATION EXPL AIN BUSINESS CONCEPTS, 02 TERMINOLOGIES, AND UNDERSTANDING 03 KNOW HOW ENTREPRENEURSHIP PL AYS AN IMPORTANT ROLE IN ECONOMIC DEVELOPMENT WARM-UP ACTIVITY group the class into 5 groups, in each group they will list down 5 entrepreneurs they know that are successful in there field, whether they are local or international, and they will identify what is common among all of them. WARM-UP ACTIVITY the group will answer the following questions below about the competencies of entrepreneurs 1.what characteristics can you observe or see that are common among the entrepreneurs you have listed? 2.in your own opinion, what do you need to possess to become successful entrepreneur? ENTREPRENEURS HIP 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. ENTREPRENEURS Entrepreneurship defined by Authors: HIP Frank Knight - “It involves a specialized group or persons who bear ‘risks’ and meet the uncertainty.” Musselman and Jackson - “Entrepreneurship is the investing and risking of time, money and effort to start a business and make it successful.” Franklin Lindsay – “Entrepreneurship is defined as anticipating the future requirements of society and successfully meeting these needs with new, creative and imaginative combinations of resources.” Concept of Entrepreneurship  RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION 3. Improving Standard of Living 1.Development of Managerial Entrepreneurship involves Capabilities Innovation Goal Oriented Activity Value Creation A Function of Risk Bearing Entrepreneurship implies Growth Managerial Skill and Leadership Gap Filling Function Function Dynamic Process Organizing Function Uniqueness Knowledge-based Practice 2. Creation of Organizations 4. Means of Economic Development Economic Activity Enterprise Creation Essential in Every Activity It is a process Misconceptions about Entrepreneurship Successful Entrepreneurship Needs Only a Great Idea. Entrepreneurship is Easy. Entrepreneurship is a Risky Gamble. Entrepreneurship is Found Only in Small Businesses. The Contribution of Entrepreneurship lies in the following Areas: Innovation Job Creation Number of New Start-ups Opportunity to Contribute to Society and Be Recognized for Your Efforts Entrepreneurship Serve Small Markets with New Technology Entrepreneurship Provides Opportunity to Reach Your Full Potential and Reap Impressive Profit  Factors Affecting Entrepreneurship 1.Personality Factors which include: a. Initiative b. Proactive c. Problem Solver d. Perseverance e. Persuasion f. A Planner g. Risk-taker 2. Environmental Factors which include: political, climate, legal system, economic and social conditions and market situations.  Three Clusters of Common Competencies of an Entrepreneur 1. Achievement Cluster 2. Planning Cluster a. Opportunity Seeker a. Goal-setter b. Risk taker b. Information seeker c. Committed c. Systematic in planning and d. Persistent monitoring e. Efficient and quality oriented 3. Power Cluster a. Persuasive and Positive worker b. Self-confident  Practice: Module Activity Answer your module pages 7-9, Activity 1.2 Place your answer in a short bond paper.  DAY 2: OBJECTIVES REVIEW PREVIOUS LESSON 01 THROUGH A RECITATION. 02 ACCOMPLISH MODULE ACTIVITY  ENRICHMEN T Answer activity 2.3, page 16 on your module  DAY 3: OBJECTIVES CREATE A GROUP FOR EACH 01 SECTION OF THEIR BUSINESS PL AN 02 COLL ABORATE WITH THE GROUP MEMBERS AND THINK OF A BUSINESS AND PRODUCT.  Collaborative Learning and Creative Thinking Group the class into 10 members in each group. the group will collaborate in crafting their business and will accomplish a business plan in the middle term of the semester. for the 1st part of the task the students will brainstorm a product for a product proposal before starting their business plan.  DAY4 : OBJECTIVES REVIEW THE TOPIC DISCUSSED 01 THROUGH AND INTERACTIVE QUESTION AND ANSWER. 02 APPLY THE LEARNING THEY GAINED FROM THE PREVIOUS DISCUSSION THROUGH A QUIZ  REVIEW QUESTION S 1.How are you going to defi ne entrepreneurship? 1.Why is innovation relevant in crafting your product?  FOUNDING VALUES: Exodus 35:5- He has filled them with the skill to do all kinds of work as engravers, designers, embroiders in blue, purple,a nd scarlet yarn and fine linens nd weavers all skilled workers and designers.