ENTREPRENEURSHIP

OBJECTIVES:
1. Discuss the relevance of entrepreneurship in
general, including its economic importance.

2. Define who is an entrepreneur

3. Explain the key concepts of common and

core competencies in entrepreneurship
 What is

entrepreneurship?
 01
ENTREPRENEURSHIP
Is a proactive process of developing a business
venture to make a profit
Entrepreneurship involves;

01 02 03
Seeking Establishing and Assessing its risks
opportunities for a operating a and rewards
market business out of through close
opportunity monitoring of the
operation.
Also….

Entrepreneurship is the process

whereby an individual or group of
individuals use organized efforts to
pursue opportunities
Societal and Economic
benefits of
entrepreneurship
Entrepreneurship produces
more jobs that equate to an
increase in national income.
Entrepreneurship amplifies
economic activities of
different sectors of society.
Entrepreneurship introduces
new and innovative products
and services.
Entrepreneurship
involves people’s living
standards.
Entrepreneurship disperses
the economic power and
creates equality.
Entrepreneurship controls
the local wealth and balances
regional development.
Entrepreneurship
reduces social conflicts
and political unrest.
Entrepreneurship elicits
economic independence
and capital formation.
 The small businesses in your
community, which is a result
of entrepreneurship, produce
more jobs that equate to an
increase in national income.
The mini-mart in our community has employees of
20 people. Those employees are previously out-
of-school youth. But now, with their salaries, most
of them are able to send themselves to school.
Who is an

entrepreneur?
French origin

● Entre which means “between”

● Prendre which means “to take”
Is a unique individual who
has the innate ability and
extraordinary dedication to
establish and manage a
business, acknowledging all
the risks and reaping its
rewards.
 A successful entrepreneur is the one who has
created value for his or her customers. The
opportunity to create such value arises when one
sees solutions to everyday problems.
 Having a natural talent is what makes an
entrepreneur unique

Being perceptive He/she sees Leadership He/she is He/she

for existing is the core of always excited innovates,
opportunities problems about every about the
products or executes ideas,
in his or her entrepreneur. business and and rarely
surroundings that services as bravely take
procrastinates
normal people prospect risks
don’t give
rather than
importance to or
threat.
often neglects.
Five levels of
entrepreneurial
development
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 01
The self-employed
Strength – they are not comfortable with desk-job;
conforming to fixed working schedule. Self-sufficient

Weakness – tendency to become too reliant on

themselves, which leads to exhaustion.
 Remember:

A successful business
would work for them, not
the other way around.
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If they realize this, they can move on

to the next level.
 02
The manager
Strength – feels the need to step up and hire potential
employees to work.

Weakness – tendency to get more people who do not

know the exact needs and requirements of the job
because entrepreneurs think that the battle is in the
scale and not in profitability.
 Remember:
Entrepreneurs should
know their employees
better, assessing their
strengths and their areas
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of improvement.
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If they realize this, they can move on

to the next level.
 03
The leader
Strength – sees their people flourish, stepping up
and producing great results with minimal
supervision.

Strength – recognizes key leaders in their

organization which in return enjoys the trust and
satisfaction with the outcome of their careers.
 Remember:
Entrepreneurs should focus
on the big picture and
strategic direction of the
business rather than merely
generating sales and/or
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operating the business.

If they realize this, they can move on
to the next level.
 04
The investor
Strength – looks more opportunities for their
business to grow.

Strength – They either purchase one or two

businesses that can potentially add value to the
company, or sell established business (franchise) to
potential entrepreneurs.
 Remember:
Entrepreneurs should
delegate a suitable
manager for such
operations and will act as
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When this becomes successful, they

will now become a true entrepreneur.
 05
The true entrepreneur
Strength – uses their experience as basis for aiming
quality and excellence in their work.

Strength – They have fully learned, and continue to

practice, a four-step process of thinking-starting with
idealization, visualization, verbalization and
materialization.
In this stage, true
entrepreneurs now have
an income that keeps on
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multiplying even if they

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do not put much effort.

Change is the only permanent thing in this world,
so do entrepreneurship..

New terms are coined to suit an entrepreneur’s field or expertise.

Technopreneur
An
entrepreneur
who puts
technology as
core of his or
her business
model.
 Social
entrepreneur
An entrepreneur who
recognizes the country’s
social problems and turn
them to profitable
institutions with the
intention of helping the
disadvantaged
community rather than
making a profit.
Intrapreneur
An entrepreneur in a
large company or
corporation who is
tasked to think,
establish, and run a
new big idea or
project.
Extrapreneur
An entrepreneur
who hops from one
company to another
to act as the
innovation
champion, providing
creative and efficient
solutions.
Like Ms. Pachita Juan, a
successful entrepreneur must
possess common
entrepreneurial competencies
throughout her/his
entrepreneurship career.
 01
Proactive
Entrepreneurs are proactive rather than
reactive.
They address issues, problems and
challenges before they come rather than
when they already happened.
 02
Agents of change
Entrepreneurs are innovation
champions. They don’t settle for
mediocrity and status quo.
 03
Risk takers
By taking risks, entrepreneurs do not just
grab opportunities left and right; they have
to take into consideration the potential
various threats they may encounter.
 04
Have a sharp eyes for
opportunities
Entrepreneurs have the talent for
recognizing an opportunity even by
using macrolevel data only.
 05
Sociable
Establishing relationship with the
most important assets of the
company – its people and its
customers.
 06
Networkers
Knowing the key people to connect with.

Networking can be a very intimidating task

for it takes a lot of guts to pull it off
 07
Decisive
Entrepreneurs always have a decision
about their business. They make sure
that all aspects of their business have
clear objectives and strategies.
 08
Balanced

Having a balance mindset between the

analytical and the creative side.
 09
Innovative
Entrepreneurs minds are rich with
big ideas that can add value to
their existing business that may be
a game changer in the industry
that they belong with.
Being competent is not
enough, entrepreneurs
should also possess traits
in managing and running
the business.
 01
Leaders
How can an entrepreneur be a
successful leader too?
A leader must be a source of
inspiration for their
employees.

A leader must be humble,

approachable, friendly, and
knows how to listen to
people’s concerns.
 Remember:

A great leader knows

how to unite the team
and bring out the best
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in every employee.
 02
Communicator
Why should communication be as
effective as possible?
 03
Specialists
Entrepreneurs should be experts of their
chosen business who are tactical and very
keen with details.
Is there any instance that you
encounter an entrepreneur who is not
well-versed of the product/service she
or he sells?

What was your observations?

How does it affects your confidence in

buying/taking their product or service?
 Remember:
An entrepreneur
whose in-depth of the
product/service easily
finds way to innovate
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and improve the

existing.
 04
Problem solvers
Possessing critical thinking skills and
look at problems as challenges not as
burdens.
Are all business people
called entrepreneur?
Career
opportunities in
entrepreneurship
Some successful
business started out
as small encrypted
with vision into clear
goals and objectives
When you love what you do,
it’s as if you are not working
That in all things,
God may be
glorified!