Lesson 1.1 Definition, Skills and Competencies (1) PDF

Presentation 2024 ENTREPRENEURSHIP Ms. Maila A. Ramirez, LPT Subject Teacher At the end of the lesson , the learners will be able to :  Discuss the relevance of the course  Explain the key concepts of common competencies  Explain the core competencies of Entrepreneurship  Ex...

Presentation 2024 ENTREPRENEURSHIP Ms. Maila A. Ramirez, LPT Subject Teacher At the end of the lesson , the learners will be able to :  Discuss the relevance of the course  Explain the key concepts of common competencies  Explain the core competencies of Entrepreneurship  Explore job opportunities for Entrepreneurship as a career; and  Agenda 01 Relevance of the course 02 Collaborative Activity 03 Defi nition of Entrepreneurship Underlying Principles, Key 04 Concepts, Skills and common competencies 05 Core Competencies of entrepreneurs 06 Career Opportunities RELEVANCE OF THE COURSE Develop skills in starting up a business. Demonstrate skills in maintaining business in a long-term basis. Enhance knowledge of business operations and expansion. Find next level of training or access other resources and services. Demonstrate business management. Uses Components of business plan. Considers to become employer rather than employee. Change attitude toward entrepreneurship as a means of making a living. in personal and career attitude. Changes Defi nition Process of creating or seizing an 01 opportunity, and pursuing it regardless of resources controlled. -Howard Stevenson Science of converting processed ideas into a remarkable business venture. 02 -Marife Agustin-Acierto A capacity for innovation, investment and expansion into new markets and 03 techniques. -Fajardo What is Entrepreneur ? Someone who starts and manages a business is called an “entrepreneur”  Entrepreneurs As “INNOVATORS”  ESSENTIAL QUESTIONS Why is Why is entrepreneurshi entrepreneurshi p always p is important associated with to the economy? innovation?  Man agin g Eff ectively Eff ec tive man ageme n t refers to th e exten t to wh ic h en trepren eu rs ac h ieve their goals an d objec tives with th e h elp of th eir employe es an d proper utilization of resou rc es. Providin g in n ovative produ cts /s ervices Creation of ne w ideas is cru c ial to any bu sine ss, by bringing new an d improve produ c ts, bu sin ess not only improved th eir profi tability bu t also h elp Underlying uplift the quality of life of th e people Principles Of H aving a vision Entrepreneurship Transform vision into a reality. A c lear vision provides a sense of purpose and direc tion for th e bu sin ess.  Makin g in formed decis ion s When fac in g a dec ision involvin g signifi c an t risks, en trepren eu rs n eed to apply in formed de cision - makin g wh ic h involve s logic an d in formation gathering. Underlying Takin g Ris ks an d Opportu n ities Principles Successful entrepren eu rsh ip involves taking calculated risks an d take advan tage Of of opportunities. Entrepreneurship  Written Work No. 1 ESSAY: Choose one fundamental principle among the underlying principle of Entrepreneurship. Explain why it is a factor for entrepreneurial success. Instructions are tagged in MS Teams.  PERFORMANCE TASK NO. 1  Group yourselves in 4 teams and think of an entrepreneurial trait that will apply to your group and use it as your group temporary name.  Search in the internet the latest list (2024) of Top Ten Entrepreneurs and select 1 Filipino entrepreneur and 1 International entrepreneur and report the kind of business that these entrepreneurs are managing, trials encountered, achievements and milestones.  Present your work in PowerPoint presentation with 5 members as presenters. PDF Format with a minimum of 7 slides and maximum of 10.  Submit a hard copy compiled in a legal size folder ( yellow color) with transparent cover and complete identification( group name, list of members in alpha order, section and strand, date submitted, subject and subject teacher)  Work is graded by a rubric ( attached copy of rubric on the hard copy) and to be submitted before the start of the presentation.  Start of reporting is on Aug 27 (Tuesday) What is Core Competencies? An entrepreneurial traits or personal attributes rather than physical assets or fi nancial resources. EMPRETEC Program of United Nations  A flag-shipped capacity building program of UNCTAD( United Nation Conference on Trade and Development) for the promotion of entrepreneurship and MSME to facilitate sustainable development and inclusive growth.  EMPRETEC is a Spanish acronym for emprendedores (entrepreneurs) and tecnologia (technology)  It was first introduced in Argentina in 1988 and has been initiated in 36 countries.  Promote the creation of sustainable, innovative and internationally competitive SME’s  Three(3) Clusters of the 10 PECS ( Personal Entrepreneurial Competencies ) Everest 1ST CLUSTER 2nd CLUSTER Morgan3rd CLUSTER ACHIEVINGCantu BEHAVIORS PLANING BEHAVIORS POWER BEHAVIORS Maxwell  Opportunity –seeking & Marketing Goal Setting  Persuasion and initiative  Information seeking Manager  Persistence Networking  Systematic planning and  Independence and self-  Fulfilling commitments  Demand for quality and monitoring confidence effi ciency Drew  Taking Calculated Risks Holloway What is Entreprenurial Skills? It a set of cognitive, technical and interpersonal skills required in the practice of entrepreneurship. Entrepreneurial skills can encompass a broad range of various skills set like technical skills, leadership and management skills.  INTERPERSO CREATIV E/ SKILLS- can NAL THINKIN CRITICAL G with people r work well generate SKILLS- egardless of inn their backgro solutions ovative TIMELINE u nd. relevant and use te nt informat ion to pe understa m nd the g G -co ting reat T IN ecu o te picture E x m INTERPER A RK oth e t pro ish OR G M in b th a ta bl SONAL A e g ies nd es ip. SKILLS plan NIZING t a sh and SKIL stra ducts lation CREATIV p to en rioritize LS- pro ient re MARKETI E sure w cl NG man aged time ork /CRITICA effec is L tivel H y I G THINKIN H /H ive T ent G O W in c a g ed G R er an uild HIGH SKILLS H o ff m b HIG LUE- tion, tion, rial n GROWTH a VA pens pera eneu natio HIGH ORGANIZI PLA o r i m u N N IN com iness ntrep eterm ic. Briefl y VALUE discuss the key dates for NG st b GS s e d th e s pec KILLS bu rong und r k e ENTREPRE dire s t o ar h w o NUERSHIP the project. ven ction ific in - u re ig - ture of t the t h E LLS h cul and C A KI , or s e trat ir L P Y S lls s to eg y R K C k i e O EN ir s lu a rk W T he v o. WORKPLAC PLANNIN E P ly t and d w ces M n n E G p e CO ap edg ks a erie COMPETENC l as xp PR B n w o bt de IES INC USIN k jo te E R LS - w el I ES la M PU T K IL l ve PLES S e O S k no r S r C TE N C Y s e of COMPUTE BUSINESS wle sed in KILLS E e u are p r in d P COM etent in r hardw th R PRINCIPL cipl ge, ec marke - p e ES es a ono t com comput ware COMPETE pra nd e mic thic c ft ctic b as i a n d s o NCY es al  CAREER O P P O RT U N I T I E S IN ENTERPRENUERSHIP  REASONS PEOPLE PURSUE ENTREPRENUERSHIP EURIKA!- you have brilliant idea and want to give it a try You're not the boss of me.  Ka-ching I want to be rich  I hate my job- you’re no longer inspired, you’re at dead end.  It’s glamorous and exciting  Satisfaction, professional growth and increased responsibility  Flexibility and freedom OPPORTUNITIES IN ENTREPRENUERSHIP There are four skills necessary to a successful business. They apply equally to any business. 1. ENGINEERING- the skill to invent and develop new product or services. 2. MANUFACTURING- the skill to deliver them, consistently and reliably with quality service and price. 3. SELLING- the skill to sell them. 4. BUSINESS- the skill to make a profit by doing the other three.  TRENDS, RISK AND DISADVANTAGES Losing No regular Work stable salary schedule income Long hours Administratio n All expenses You don’t work- Start-up are yours didn’t cost research, don’t eat REASONS FOR FAILURES 01 High debt ratio 02 High level of mismanagement 03 Unexpected staff resignation 04 Inadequate inventory 05 Selling product below cost 06 Dwindling working capital, consistent negative cash fl ow & inability to secure operational capital. 07 Declining profi t 08 Loss of Market Share Sources: ► http://www.strategicbusinessteam.com/small-business-development-strategy/10-causes-of- business-failure-you-must-watch-out-for MINDSET & SKILLS NEEDED FOR ENTREPRENEURIAL SUCESS Are you a self-starter? Are you a positive-thinker?  Are you disciplined? Can you be objective?  MINDSET & SKILLS NEEDED FOR ENTREPRENEURIAL SUCESS TRAITS:  Gain respect of their peers.  Believe and trust in themselves  Follow a plan  Think creatively  Explore their exceptional skills  Envision their success  Never GIVE UP!!! BUSINESS TRENDS  Internet business.  Service business  Home-based business  Social responsible non-profit business  Focus in technology  Outsourcing  Strategic alliances  Corporate ventures  Convenience products and services  PROFESSIONAL DEVELOPMENT OPPORTUNITIES TRAITS:  Meet up  Minority business network  Follow a plan  Facebook  Asian women in business  Conferences, workshops, conventions  LinkedIn  Universities SBA ASYNCHRONOUS TASK [PT#1 Online research on Top Successful Entrepreneur Designating leaders per group and assigning of task to members REFERENCES Habaradas, Raymund B. and Tulliao Jr. S. (2017). Pathways to entrepreneurship. Quezon City. Phoenix Publishing House, Inc. Morato, Jr., E. A. (2016). Entrepreneurship. Manila City: Rex Book Store. Edralin, D., (2016). Entrepreneurship. Quezon City: Vibal Group, Inc. Kalambacal, Ludwig Ritchel A. and Dumlao Jr. S. (2022) Entrepreneurship. Quezon City: Tech Factors, Inc.