Unit 1 Topic 1-Entrepreneurship and the Entrepreneur PDF

**Introduction to Entrepreneurship** Change is, indeed, inevitable. It is now taking place everywhere in the world and in the entire human life. Entrepreneurship is a very important component of a capitalist economy like the Philippines. It thrives in economic systems that support innovation and ha...

**Introduction to Entrepreneurship** Change is, indeed, inevitable. It is now taking place everywhere in the world and in the entire human life. Entrepreneurship is a very important component of a capitalist economy like the Philippines. It thrives in economic systems that support innovation and hard work. When entrepreneurs become successful, the nation is immensely benefited. What is entrepreneurship and how does it affect the economic well-being of many people? What is the task of the entrepreneur? This chapter is an attempt to provide answers to concerns like those stated above. **Topic 1:** Entrepreneurship and the Entrepreneur  At the end of the topic, students will be able to: 1. Distinguish Entrepreneurship and Entrepreneur. 2. Familiarize the role and characteristics of an Entrepreneur. **Presentation of Content:** **Business Defined** - Is defined as an organized effort of individuals to produce and sell goods and services in order to satisfy the needs of society - It is a commercial activity engaged in as a means of livelihood, a line of work or a particular trade or profession **What is Entrepreneurship?**  [**www.google.com**](http://www.google.com) **Entrepreneurship** 7 Roles of Entrepreneurship in Economic Development of a Country \... [www.google.com](http://www.google.com) - Is the "process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled." - It refers to the economic activity of a person who starts, manages and assumes the risk of a business enterprise - It is a very important component of a capitalist economy - It is basically aimed to gear someone towards self-employment **Entrepreneur**  [www.google.com](http://www.google.com) - The person who undertakes entrepreneurial activities - The person behind entrepreneurship - One who organizes, manages and assumes the risk of business or enterprise - Comes from the French word **"entreprende"** which means to undertake - It was coined by **Jean Baptiste Say** (a renowned French Economist) **THE ENTREPRENEUR'S TASK** 1. **Products and services for customers and producers** 2. **Employment** 3. **Taxes** 4. **Demand for suppliers' products and services** 5. **Training facilities for future entrepreneurs** **Some Characteristics often Attributed to the Entrepreneur** - Drive - Ambition - Leader - Perseverance - Competitive - Innovative - Vision - Motivation - Independence - Self-satisfaction - Confidence - Energy - Intelligence - Resourcefulness - Optimism - Creativity - Initiative - Flexibility - Responsibility - Accuracy - Cooperativeness - Sense of Power - Imagination - Commitment - Sensitivity to others - Honesty - Maturity - Hard Working - Ability to bounce back