Overview of Entrepreneurship PDF

Overview of Entrepreneurship  Institutional Prayer Let us all remember that we are in the most holy presence of God. In the name of the Father, of the Son, and of the Holy Spirit. Amen. Great are You, O Lord, and greatly to be praised; great i...

Overview of Entrepreneurship  Institutional Prayer Let us all remember that we are in the most holy presence of God. In the name of the Father, of the Son, and of the Holy Spirit. Amen. Great are You, O Lord, and greatly to be praised; great is your power and your wisdom is infinite. Grant us, O Lord, to know and understand You, to call and praise You, and to believe and preach You, for all our actions are for the love of You. Awaken us always that we are created for You and our heart is restless, until it rests in You. Live Jesus in our heart, Forever! St. Augustine, pray for us! In the name of the Father, in of the Son, and of the Holy Spirit. Amen.  At the end of this lesson: I can expound the relevance of entrepreneurship, including its societal and economic benefits. I can explain the key concepts of common competencies. I can explain the core competencies in Entrepreneurship  Overview of Entrepreneurship  ENTREPRENEUR - French origin coined from the word entre, which means, “between”, and prendre, which means “to take”. - Unique individual who has the innate ability and extraordinary dedication to establish and manage a business, acknowledging all the risks and reaping its rewards. - It is not a career rather it is calling. - It is a natural talent being perceptive for opportunities in their surroundings that normal people don’t give importance to or often neglect. - LEADERSHIP is the core of every entrepreneur. ENTREPRENEURSHIP - Proactive process of developing a business venture to make a profit; - Involves seeking opportunities for a market, establishing and operating a business out of the opportunity; - Assessing it risks and rewards through close monitoring of the operations. Creating a sound business plan, along with efficient and effective operation of the business, will not only benefit the entrepreneur but also the entire society and the economy.  Societal and Economic Benefits of Entrepreneurship 1. Entrepreneurship produces more 3. Entrepreneurship introduces jobs that equate to an increase in new and innovative products and national income. services. 2. Entrepreneurship amplifies 4. Entrepreneurship improves economic activity of different people’s living standards. sectors of society. Benefits of Entrepreneurship 5. Entrepreneurship disperses the 7. Entrepreneurship reduces social economic power and creates conflicts and political unrest. equality. 6. Entrepreneurship controls the 8. Entrepreneurship elicits economic local wealth and balances regional independence and capital development. formation. Benefits of Entrepreneurship  CORE COMPETENCIES In ENTREPRENEURSHIP  AGENTS OF RISK TAKERS CHANGE PROACTIVE HAVE A SHARP EYE FOR OPPORTUNITIES SOCIABLE NETWORKERS DECISIVE BALANCE INNOVATIVE Glory Be to the Father, and to the Son, and to the Holy Spirit. As it was in the beginning, is now, and ever shall be, world without end. AMEN  FIVE LEVELS OF ENTREPRENEURIAL DEVELOPMENT - Action Coach  a) Self Employed b) Manager 4-step process of LEVELS OF c) Leader thinking – Idealization, Visualization, ENTREPRENEURIAL DEVELOPMENT d) Investor Verbalization and Materialization e) True Entrepreneur New Terms: * Technopreneur * Intrapreneur * Social Entrepreneur * Extrapreneur  CORE TRAITS OF ENTREPRENEURS  a) Leaders – source of inspiration for their employees. b) Communicators – know how to use all forms of communication as an effective instrument in a certain concerns of their customers/employees. CORE TRAITS c) Specialist – experts; tactical and very keen with details. d) Problem Solvers – possess critical thinking skills; they look at the problem as challenges/puzzles that they need to solve.  Overview of Entrepreneurship  Institutional Prayer Let us all remember that we are in the most holy presence of God. In the name of the Father, of the Son, and of the Holy Spirit. Amen. Great are You, O Lord, and greatly to be praised; great is your power and your wisdom is infinite. Grant us, O Lord, to know and understand You, to call and praise You, and to believe and preach You, for all our actions are for the love of You. Awaken us always that we are created for You and our heart is restless, until it rests in You. Live Jesus in our heart, Forever! St. Augustine, pray for us! In the name of the Father, in of the Son, and of the Holy Spirit. Amen. Entrepreneurs can choose to expand and explore once the business is established. Intrapreneurship refers to managing a startup business in an established business.  Acquisition refers to buying another similar business or a new business. Franchising is a business arrangement in which the franchisor, who is the owner of the business, acquires distribution centers through the franchisees or the affiliated dealers. Activity#1 Activity Title: Entrepreneurship in our Community Learning Target: The learners will be able to discuss the relevance of the course. Values Formation: The learners will become reflective and critical thinkers. A. Directions: Using your own words, discuss the societal and economic benefits of entrepreneurship. Cite specific examples of the societal and economic benefits you have observed in your barangay or city. B. In your perspective, what do you think are the other benefits of entrepreneurship in society? Give at least 5 benefits. Glory Be to the Father, and to the Son, and to the Holy Spirit. As it was in the beginning, is now, and ever shall be, world without end. AMEN Quiz #1 QUESTION #1 Materialization It is one of the four step thinking process of Idealization entrepreneur where sharing of Visualization ideas with other people. Verbalization QUESTION #2 Materialization It is one of the four step thinking process of Idealization entrepreneur starting to create Visualization and plans to make the dream a reality. Verbalization QUESTION #3 It is one of the Materialization four step thinking process of entrepreneur Idealization where vision becomes reality Visualization and have an income that keeps Verbalization on multiplying. QUESTION #4 Materialization It is one of the four step thinking process of Idealization entrepreneur where dream and Visualization make a desire to build an ideal environment. Verbalization QUESTION #5 These persons enjoy Leader seeing their people flourish, stepping up and producing great results with minimal True Entrepreneur supervision. What level of entrepreneurial Self-Employed development is referring to? QUESTION #6 These are the Managers persons that do not want to conform to a fixed working schedule. They want Self Employed to do things in their own way. What level of entrepreneurial Investors development is referring to? QUESTION #7 The word Entry, Pendre entrepreneur has a French origin (word), it means Entre, Prenred “between” and “to take”. What is the French word Entre, Prendre for entrepreneur? QUESTION #8 These persons Investors purchase 1 or 2 business that can potentially add value to the company. True Entrepreneur What level of entrepreneurial development is Leader referring to? QUESTION #9 Verbalization True entrepreneur embodies the Idealization characteristics of aiming a quality and Socialization excellence in their work. The following are the four-step Visualization process of thinking except ______. Materialization QUESTION #10 Common traits of Sociable an entrepreneur that can be very intimidating task Risk Takers to maintain a long-lasting relationship with Networkers them. QUESTIONS #11-15 Enumerate at least 5 Societal and Economic Benefits of Entrepreneurship (in any order) QUESTIONS #16-20 Technopreneur Intrapreneur Social Extrapreneur Entrepreneur Based on the pictures above, if you were to become an entrepreneur, which one would you rather be and why? Answer the question, in 3-5 concise sentences. Glory Be to the Father, and to the Son, and to the Holy Spirit. As it was in the beginning, is now, and ever shall be, world without end. AMEN