Entrepreneurship PDF

Entrepreneurship 3. Agricultural experienced a scarcity in Society; resources because of war that...

Entrepreneurship 3. Agricultural experienced a scarcity in Society; resources because of war that Introduction to Entrepreneurship: led to the development of mass The Person production to sustain life. 4. Industrial Society; machineries. I. Relevance of the Course 5. Modern Society; technology. Owners take risks to gain profit and help solve problems. IV. Important Characteristics, Entrepreneurship is beyond business Traits, Attributes Of A Good and money; affects the economic and Entrepreneur societal development of countries. Hardworking; working diligently and being consistent about it. Keeps on II. Reasons How Entrepreneurship improving their performance to Classes Can Help A Country produce good products or provide Achieve Significant Growth good services. 1. boosts economic development. 2. promotes innovation. Confident; self-reliance in one’s 3. promote social change. ability and judgment. exhibit self- 4. promotes research and confidence to cope with the risks of industrial progress. operating their own business. III. Personal Entrepreneurial Disciplined; stick to the plan and fight Competencies, PECS the temptation to do what is Important for the success in business unimportant. as they enable entrepreneurs to set goals, plan systematically, Committed; assume full responsibility demonstrate commitment, and persist over their business. give full in their efforts, which ultimately leads commitment and solid dedication to to better business performance. make the business successful. a. Risk-taking abilities b. Out-of-the-box thinking and Ability to accept change; Cope with creativity and thrive on changes. Capitalize on c. Problem-solving abilities positive changes to make your d. Taking initiative business grow. Nothing is permanent e. Persistence but change; occurs frequently. f. Persuasion and social skills g. Business management skills Creative; and innovative to stay in the h. Critical thinking skills business and in order to have an edge i. Networking skills over the other competitors. j. Effective communication skills Has the initiative; must put yourself in Major Evolution of Society a position where you are responsible 1. Prehistoric Society; Nomad. for the failure or success of your Hunting and gathering society business. 2. Domestication and Horticultural Society; Taking care of plants Profit-oriented; generate profit or and animals additional income. Business = bread and butter. See to it that the business Entrepreneurship can generate income. Pronunciation; aan-truh-pruh-nur-shuhp V. Important Skills of a Successful Etymology; french word Entrepreneur entreprendre, to undertake. Excellent planner; develops and follows the steps in the plans Definition; person who organizes, diligently to realize goals. planning is operates a business. Starts a an effective skill only when combined business, willing to risk loss in order with action. to make money Planning; involves strategic thinking and goal setting to Bill Gates; To win big, you have to achieve objectives by carefully take big risks. maximizing all the available resources. Joseph A. Schumpeter; Father of Entrepreneurship; Capitalism, Possesses people skills; effective Socialism, and Democracy, 1942; and efficient communication and starting a business, makes you an establishing good relationship to the owner, creating something new in people working in and out of your your business makes you an business. dealing with people. A entrepreneur. well-developed interpersonal skill can make a huge difference between Entrepreneurs; Innovators. To invent success and failure of the business. is to create, To innovate is to develop. often in search of something new to Sound decision maker; ability to think exploit new ideas into gainful quickly and to make wise decisions opportunities. Calculated risk-takers, towards a predetermined set of estimating probable outcomes before objectives. should be based on given deciding to take a risk. willing to risk facts and information and lead loss for financial gain. towards the predetermined objectives. I. Functions of an Entrepreneur A. Innovator; tries to develop new VI. Business Components technology, products, and markets. e.g. Ernest L. Cu; well-known Filipino entrepreneur. CEO of Globe Telecommunications. One of the fathers of BPO in the Philippines and an innovator in the industry which employs over a million people to this day. B. Risk taker; always prepared for assuming losses that may arise on account of new ideas. e.g. Corazon Dayro-Ong; Dietitian, affordable, making them smaller, more CDO Food Products, Inc., founded on portable, and more accessible. June 25, 1975 started as a mom-and-pop shop selling E. Developing management skill; homemade meat products from her ability to develop planning, family's residence in Valenzuela. organizing, staffing, directing, controlling and coordinating the Despite competition from big activities of a business. companies, Dayro-Ong transformed her dream into a successful e.g. Socorro Ramos; strategic enterprise, providing quality products negotiation with publishers and to millions of Filipino families and suppliers gave her bookstore an edge, contributing to the Philippine leading to over 100 branches across economy. the country. effective business operations have made National C. Researcher; applying analytical Bookstore the country's top technique using empirical bookstore. findings before making a decision. II. Types of Entrepreneurs, according to the willingness to e.g. Gregorio Sanchez Jr.; renowned adopt innovative ideas by politician and inventor. LactoPAFI Clarence H. Danhof. corporation. Conducted research Innovative Entrepreneurs; ability to using only pots, pans, and a small think newer, better and more tank from 2003-2004. persistence led economical ideas of business to the development of LactoPAFI organization and management. Probiotic Bacteria, a food supplement that smothers bad bacteria in Imitating Entrepreneurs; people that livestock. Invention of probiotic health follow the path shown by innovative drinks has made him popular and entrepreneurs. opened doors to success. Fabian Entrepreneurs; great caution D. Overcomes resistance to and skepticism about change. only change; first tries ideas on their follow change after they are satisfied level before making it available with its success rate. for others. as innovations often oppose existing behavioral Drone Entrepreneurs; total refusal of patterns. changes. usually satisfied with the existing mode and speed of business e.g. Diosdado Banatao; Filipino and show no interest in adopting new engineer. prominent figure in the ideas even with great profit. computer technology industry. known for revolutionizing the way computers are used and seen. Banatao simplified computer design with fewer chips, making computers smaller, portable, and more