App 004: Entrepreneurship PDF

APP 004: Entrepreneurship Ms. Apriel Regalado, LPT  A. Subject Description This course is designed to help students evaluate the business skills and commitment necessary to successfully operate an entrepreneurial venture and review the challenges and rewards of entrepre...

APP 004: Entrepreneurship Ms. Apriel Regalado, LPT  A. Subject Description This course is designed to help students evaluate the business skills and commitment necessary to successfully operate an entrepreneurial venture and review the challenges and rewards of entrepreneurship. Students will learn about themselves, their decisions, and their goals to determine how entrepreneurship can play a role in their lives. Students will also be introduced to entrepreneurship from an economic perspective and the concepts of environmentally sustainable practices and by preparing a business plan.  B. Subject Goal: Explain understanding of concepts, underlying principles, and processes of developing a business plan. Evaluate environment and market in one’s locality/town. Create a product for business plan.  C. Topics: Introduction to Entrepreneurship Evolution of Entrepreneurs Enumerating Characteristics and Skills Needed of an Entrepreneur Determining the Different Classifications, Types, Forms, and Function of Business Understanding the Roles of Business Evaluating Business Models Defining Small Business and its Strategic Planning  C. Topics: The Business Plan Recognize the importance of marketing mix in the development of marketing strategy Demonstrate understanding of the 4Ms of operations Manifest understanding of starting and operating a simple business Financing your Business The Business Plan ( Checking of Output and Consultation Period)  RULES IN MY CLASS 1. Be prepared. This is as much a practical reminder as it is a rule, but to make sure everything runs smoothly, learners should be prepared and ready to go five minutes before class starts. 2. Be responsive If you want engaging classes, you need people to engage – so make it a rule. 3. Be on time. Late arrivals can be a big distraction – your class time is limited, learners could miss a crucial set of task instructions, and especially in a small regular class, lateness compromises people’s engagement and focus. 4. Be positive Warm and positive interactions throughout the class will help students feel motivated, confident, and ready to learn.  Introduction to Entrepreneurship Learning Targets: At the end of the module, students will be able to: 1. Define Entrepreneurship 2. Differentiate Businessman and Entrepreneur. 3. Enumerate the Evolution of Entrepreneurs.  Entrepreneurship Entrepreneurship is the exciting journey of turning ideas into reality. It involves having a vision, being willing to change, and creating new things. Entrepreneurs put in a lot of energy and passion to come up with innovative ideas and solutions. Four Key Dimensions of Entrepreneurship 1. Individual: This refers to the entrepreneur themselves—their skills, creativity, and drive. 2.Organization: This involves how businesses are structured and managed to support new ideas. 3.Environment: The surrounding factors, like market conditions and societal trends, that influence how businesses operate. 4.Process: The steps taken to develop and launch new products or services.  Entrepreneurship Entrepreneurship has been a part of human history for thousands of years. From the invention of the wheel to the rise of the internet, entrepreneurs have continuously adapted and evolved their businesses to meet changing needs. In short, entrepreneurship is about innovation, creativity, and making things happen!  Entrepreneurship Engaging in entrepreneurship shifts people from being “job seekers” to “job creators”, which is critical in countries that have high levels of unemployment. It requires a lot of creativity which is the driving force behind innovation. “Entrepreneurship is the process of discovering new ways of combining resources.”(Russell S. Sobel, 2002)  THE EVOLUTION OF ENTREPRENEURS Neolithic The very first entrepreneur was the engineering cavemen. Better system of transportation and invented the wheel. Classical Roman Entrepreneurs are present in all open-air markets and shops. They also expanded by selling food and clothing to soldiers in military camps.  THE EVOLUTION OF ENTREPRENEURS Golden Age Entrepreneurs came in West in 1840s to fin gold. They saw market potential on treasure hunters and diggers. Utilitarian Entrepreneur Tech-savvy entrepreneurs who based their business on electricity.  THE EVOLUTION OF ENTREPRENEURS Bill Gates (1980s-1990s) Start-ups began navigation the internet. Social Media Thinker Social media entrepreneurs thrive on connectivity and social media colloquialism.  Entrepreneurship It is a common assumption that businessman and entrepreneur are the same, but both refer to different individual possessing a distinct approach to business. In the future, entrepreneurs can become businessman. However, between them there is a thin line difference. Let’s find out the more differences between a business and entrepreneur on the example below.  Knowing the Qualities of an Entrepreneur Learning Targets: At the end of the module, students will be able to: 1. Identify personal characteristics of an entrepreneur; and 2. Describe the different entrepreneurial skills and its importance.  Knowing the Qualities of an Entrepreneur Being an entrepreneur requires specific skills. While some abilities might be naturally present, others can be learned or developed through careful practice. Understanding the qualities needed by entrepreneurs can help you grow to become a better business leader. In this session, we explain some of entrepreneurs’ characteristics and skills you can improve. Knowing the Qualities of an Entrepreneur Self-Motivation You need to be able to push yourself. You aren’t answerable to anyone else as an entrepreneur, and that sometimes means that it’s hard to get moving without anyone to make you. Knowing the Qualities of an Entrepreneur Risk Tolerance Understanding calculated risks that are more likely to pay off is an important part of being an entrepreneur. You’ll need to be willing to take a few risks to succeed.  Knowing the Qualities of an Entrepreneur Flexibility Be willing to change as needed. Stay on top of your industry and be ready to adopt changes in processes and product as they are needed. Knowing the Qualities of an Entrepreneur Passion Passion is what will help you find motivation when you are discouraged, and it will drive your forward. Passion is fuel for successful entrepreneurship.  Knowing the Qualities of an Entrepreneur Management Skills and Knowledge Understand how money works so that you know where you stand, and so that you run your business on sound principles. Knowing the Qualities of an Entrepreneur Vision The best entrepreneurs have a vision as to what they want to achieve, how they can accomplish their objectives, and whom they need on their side to reach their goals. Their vision acts like a compass that points them in the direction of opportunities  Knowing the Qualities of an Entrepreneur Confidence They have to be confident both in themselves and in the products or services they sell. If they believe in themselves, they will have the ability to stay the course regardless difficulties or discouragement THANK YOU!