Entrepreneurship Types PDF

Summary

This document discusses different types of entrepreneurship, including CEOs, businessmen, and entrepreneurs. It explores various business models and approaches, focusing on small businesses, large companies, and social entrepreneurship, highlighting the different motivations, characteristics, and strategies.

Full Transcript

DIFFERENCE BETWEEN CEO BUSINESSMAN & ENTREPRENEUR CEO - Not technically the owner of the business - Chief Executive Officer - focus on maintaining stability, optimizing operations, and making data-driven decisions Businessman - Profession - Studies how business management works...

DIFFERENCE BETWEEN CEO BUSINESSMAN & ENTREPRENEUR CEO - Not technically the owner of the business - Chief Executive Officer - focus on maintaining stability, optimizing operations, and making data-driven decisions Businessman - Profession - Studies how business management works Entrepreneur - Started with their own ideas/innovation ENTREPRENEURSHIP - process where individuals identify opportunities for innovation and act upon them by transforming ideas - Financial context - Goal is to plainly earn revenue - Cultural context - Mainly to promote parts of a culture - Ex. Batangas’ Kapeng Barako, Baguio’s strawberries, etc. - Social context - How to help the world become a better place with revenue to sustain the business - Entrepreneur: - Undertaking the risk of enterprise - Innovators - Willing to take risks - Generate new ideas to make unique and profitable solutions to present-day problems 9 TYPES OF ENTREPRENEURSHIP - Small Business - Opening a business without turning it into a large conglomerate - Single location restaurant, one grocery store, retail shop to sell goods - Has no plans of expanding - Ex. single-location restaurant, one grocery shop, a retail shop, etc. - Large Company - C-level executives - Advanced professionals who know how to sustain innovation - Often create new products and services based on demand - Ex. Bench, SM, Robinsons, etc. - Scalable Startup - Requires external capital and risk - Has the goal of expanding rapidly and becoming an extremely profitable company - Hustler - People who are willing to work hard and put in constant effort - Has plans to expand purely with hard work - Motivated by aspirations - Doesn’t have big capital - Buyer - Has wealth - Uses said wealth to fuel their business ventures - Specialty is to use their fortunes to invest in businesses that they think will be successful - Identify promising businesses and acquire them - Goal is to grow said businesses and expand profit - Ex. Henry Sy becoming a stakeholder of National University, which is why most NU campuses are situated in SM - Innovative - Constantly coming up with new ideas - Take these ideas and turn them into business ventures - Ex. electric cars innovated of regular gas-powered cars to address the lack of resources - Imitator - Use others’ business ideas as inspiration but work to improve the - Combination between Innovator and Hustler - Willing to think of new ideas and work hard, yet they start copying others - Have a lot of self-confidence and determination. Learn from others’ mistakes - Researcher - Take time when starting their own business to research - Believe that with right preparation and information, they have a higher chance of being successful - Tend to rely on facts, data and logic rather than intuition - Ex. Limited edition items/versions are made to see if it makes hype in the market to be worth bringing back - Social - Solves social problems with their products/services - They don’t want to make big profits or wealth - Tend to start nonprofits or companies that dedicate themselves to working toward social good - According to sir, this is what we ABM students will be SOCIAL ENTREPRENEURSHIP - Recognizing social problems and achieving social change - Doing research to completely define a social problem - SOCIALPRENEUR: a person who sets out on an entrepreneurial venture with the intention of addressing social issues CHARACTERISTICS OF SOCIAL ENTREPRENEURSHIP - Mission-driven - Dedicated to serving the mission - Act entrepreneurially - Business-minded - Act within entrepreneurially oriented organizations - Strong culture of innovation and openness - Act within financially independent organizations - That plan and execute earned-income strategies - Achieved by blending social and profit - IMPORTANCE - You will be

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