Entrepreneurship Module 2 Week 2 PDF

ENTREPRENEURSHIP Module 2 Week 2 Learning Competency:  ExploreJob Opportunities For Entrepreneurship As A Career Lesson 3 : Competencies in Entrepreneurship and Job opportunities for Entrepreneurship as a career Market Need  EXPECTATIONS:  After going through the module, you are e...

ENTREPRENEURSHIP Module 2 Week 2 Learning Competency:  ExploreJob Opportunities For Entrepreneurship As A Career Lesson 3 : Competencies in Entrepreneurship and Job opportunities for Entrepreneurship as a career Market Need  EXPECTATIONS:  After going through the module, you are expected to: 1. Gain insights about the competencies every Entrepreneur should develop. 2. Explore job opportunities for Entrepreneurship as a career. LOOKING BACK TO YOUR LESSON MAKE MEANING- INTERNET ASSSISTED ACTIVITY  DIRECTIONS: Give the meaning of the following word/phrase in each item. Competency Job Opportunities Enterprise Creative thinking Managing Change  Are entrepreneurs born or made? This question has long been debated with little agreement. Longenecker, J.G., et.al. (2016), Stephen Spinelli and Robert Adam described entrepreneurs as having and exhibiting “desirable and acquirable attitudes and behaviors” such as commitment and determination, leadership, opportunity obsession, risk-takers, motivation to excel, creativity, self-reliance, and adaptability (www.ideasforleaders.com) competencies such as risk seeking, assertiveness and vision are considered typical of a successful entrepreneur Is there such a thing as a ‘natural-born entrepreneur’? Accordingly there is not.  Is there such a thing as a ‘natural-born entrepreneur’? Specific techniques and habits must be practiced and developed by all would-be entrepreneurs.  Is there such a thing as a ‘natural-born entrepreneur’? Aside from business competencies, entrepreneurs need interpersonal and self-leadership skills too; however, these are often overlooked.  Is there such a thing as a ‘natural-born entrepreneur’? Entrepreneurial behavior‟ can be learned and developed (www.ideasforleaders.com). The question is not who entrepreneurs are, but what they do, and more important than business skills can be other competencies that provide a foundation for those business skills (www.ideasforleaders.com). Furthermore, according to www.ideasforleaders.com, there are three levels of competencies, which all entrepreneurs need: Personal competencies – These are your abilities to ground yourself so that you are secure and self-assured in whatever situation you may find yourself. Ex. creativity, determination, integrity, self- criticism. Furthermore, according to www.ideasforleaders.com, there are three levels of competencies, which all entrepreneurs need: 2. Interpersonal competencies – ability to lead, influence, communicate, supervise, negotiate, and control people at all levels, ability to get along with people and motivate people to perform jobs Ex. communication, engagement, delegation Furthermore, according to www.ideasforleaders.com, there are three levels of competencies, which all entrepreneurs need: 3. Business competencies– These are set of particular abilities and knowledge that sets a company apart from its competitors (yourbusiness.azcentral.com). Ex. business vision, financial management, networking  Core vs. Common Competencies in Entrepreneurship Competencies in entrepreneurship play a leading role in making entrepreneurs successful (baseread.com).  Core vs. Common Competencies in Entrepreneurship Entrepreneurial competencies ✓ facilitate opportunity recognition, ✓ help adapt rapidly to changes, ✓ enhances business performance, ✓ strengthen the firm‟s competitive position and ✓ stir the achievement of organizational  Core vs. Common Competencies in Entrepreneurship Entrepreneurial competencies ✓ It is the sum total of the personality, skills and knowledge that the entrepreneur possesses, which are necessary to effectively perform their functions and responsibilities (Edralin, D. M., 2016).  Competence is an underlying personal characteristic which leads to superior performance, combination of knowledge, skills, attitudes, and motives (baseread.com). Core competence is the Common competence is one foundation for sharpening a that describes the knowledge, company's competitive edge and it skills and abilities found in guides brand reputation, business most or all position growth, and marketing strategy (www.ifpm.nifc.gov). (www.thebalancesmb.com). Job Opportunities for Entrepreneurship as a Career If you‟re an aspiring entrepreneur, there are different career paths you can take to turn your dream into a reality. Which path you choose will depend on your experience, skills, finances, and flexibility, as well as your goals for the future (Doyle, A., 2020). Career opportunities you might pursue according to Michalowicz (2011) as cited by Edralin, D. M., 2016): Entrepreneurship Career Opportunities for the TECHVOC Track Entrepreneurship Career Opportunities for the TECHVOC Track Entrepreneurship Career Opportunities for the TECHVOC Track Entrepreneurship Career Opportunities for the TECHVOC Track Note: Most would-be entrepreneurs, however, remain self-employed, preferring to be the boss. Reasons why many would like to become an entrepreneur (www.scu.edu): 1. Achievement, Challenge, & Learning 2. Independence & Autonomy – you can set your own goals, pick their own partners, and face the consequences of your decisions. 3. Income Security and Financial Success Note: Most would-be entrepreneurs, however, remain self-employed, preferring to be the boss. Reasons why many would like to become an entrepreneur (www.scu.edu): 4. Recognition and Status 5. Family 6. Dissatisfaction with Current Work Arrangements 7. Community and Social Motivation