ENTREPRENEURSIP  The Leader- enjoy seeing their people

flourish stepping up and producing great

 Is a proactive process of developing a
results with minimal supervisions.
business venture to make a profit? It
 The Investor
involves seeking opportunities for a market,
 The True Entrepreneur-fifth level of
establishing and operating a business out of
entrepreneurs; excellence and aim for
the opportunity, and assessing its risks and
quality for the work. Aim for quality and
rewards through close monitoring of the
excellence in their work.
operations.
PROFIT- reward; financial gain of efforts NEW TERMS COINED TO SUIT AN
made and risk taken by the entrepreneur. ENTREPRENEUR
SOCIETAL AND ECONOMIC BENEFITS OF  Technopreneur –entrepreneur who puts
ENTREPRENEURSHIP technology at the core of his or her business
model.
 Entrepreneurship produces more jobs that
equate to an increase in national income.  Social Entrepreneur – is one who takes
advantage of the country’s social problems
 Entrepreneurship amplifies economic
and turn them to profitable institutions with
activities of different sectors of society.
the intention of helping the disadvantaged
 Entrepreneurship introduces new and
community rather than making a profit.
innovative products and services.
 Intrapreneur – is an entrepreneur in a large
 Entrepreneurship improves people’s living
company or corporation who is tasked to
standards.
think, establish, and run a new big idea or
 Entrepreneurship disperses the economic
project.
power and creates equality.
 Extrapreneur – is an entrepreneur who
 Entrepreneurship controls the local wealth
hops from one company to another to act as
and balances regional development.
the innovation champion, providing creative
 Entrepreneurship reduces social conflicts
and efficient solutions.
and political interest.
 Entrepreneurship elicits economic COMMON AND CORE COMPETENCIES
independence and capital formation.
 Proactive- before the problem there is a
ENTREPRENEUR ready solution.
 Agents of Change- innovation champion in
 The word “entrepreneur” has French origin
hopeless and complex situation
and was coined from the words entreprendre
 Risk Takers- taking the risk
which means “to undertake”
 Have a sharp eye for opportunities-
 Is a unique individual who has the innate
always grabbing the opportunity
ability and extraordinary dedication to
 Sociable- communicate and most important;
establish and manage a business,
establish the relationship with the most
acknowledging all the risks and reaping its
important assets of company
rewards?
 Networkers- connection
FIVE LEVELS OF ENTREPRENEURIAL  Decisive- always had a decision for the
DEVELOPMENT betterment of the business; do not settle for
gray areas or unclear solutions
 The Self-employed
 Balanced- between analytic and creative
 The Manager
 Innovative- generating new ideas
CORE TRAITS
Leaders- source of motivation of the employees;
know how to unite with the team and bring out the
best of the employee
Communicators- all forms of communication
effectively
Specialists- expert/techno, dedicated with chosen
career; understand the totality and specialty of the
business
Problem Solvers- finding a creative solution; know
how to handle issue in any area of the business
finance, operation or marketing.
PROS AND CONS OF ENTREPRENEURSHIP
AND EMPLOYMENT
ENTREPRENEURIAL PROCESS
 Step by step procedure in establishing any
kind of business that an entrepreneur has to
undergo.
OPPORTUNITY
 Entrepreneur business idea to develop a
product and services in the future.
STEP-BY-STEP PROCEDURE IN
ESTABLISHING ANY KIND OF BUSINESS
THAT AN ENTREPRENEUR HAS TO
UNDERGO
1. Opportunity Spotting and Assessment
 Beginning of the process and considered as
most difficult. Entrepreneurs at this point
take note of interesting trends in their
environment.
2. Developing a Business Plan
 Business plan – is a comprehensive paper
that details the marketing, operational,
human resource, financial, strategic
direction, and tactics of the business.
 Core guide and direction of the
entrepreneur in calculating the resources
needed, assessing how to obtain these
resources efficiently, and running the
business sustainability.
3. Resourcing or Determining the Capital
Needed
 Calculating the difference between the
needed and existing capital.
 Develop contact and relationship with
suppliers and service providers.
4. Running the Business
 The entrepreneur should use the resources
allocated for the new venture.
 Identify existing and foreseeable problems
and issues
3S OF OPPORTUNITY SPOTTING AND
ASSESSMENT
Opportunity Seeking
  The first step and the most difficult process
of all due to the number of options that
entrepreneur will have to choose from.
 It involves the development of new ideas
from various sources as follows:
MACROENVIRONMENTAL SOURCES
STEEPLED (SOCIO-CULTURAL,
TECHNOLOGICAL, ECONOMIC,
ENVIRONMENTAL, POLITICAL, LEGAL,
ETHICAL AND DEMOGRAPHIC FACTORS)
 Represents the general environment where
the entrepreneur can identify business
opportunities from and where the future
business is about to operate.
Industry
 This is the source of current trend on what is
happening in the industry where the future
business will belong to.
New discovery or knowledge
 These are new trends that can be the core
business model of a new venture.
Futuristic opportunities
 Projected new opportunities that can
possibly affect the new business while it is
running.
2. MICROMARKET
Consumer preferences, interests, and
perceptions
 Current needs and wants of potential
customers that should be discovered right
away by a budding entrepreneur.
Competitors
 Recognizing and understanding potential
competitors will aid the entrepreneur to
develop a product or service that is unique
and will surely stand out from the
competition.
Unexpected opportunities from customers
 It may happen in unlikely situations,
unlikely places, and with unlikely people.
Talents, hobbies, skills and expertise
 Business opportunities do not come from
outside forces but also from within the
entrepreneur.
Irritants in the marketplace such as deterrents,
problems, complaints, and delays
 Entrepreneurs see opportunities in situations
where there is a recurring problem or
sometimes when there is no more hope in
solving the problem.
Location
 Entrepreneurs just have to look at their
ecosystem and they will be able to spot a
business opportunity right away.
METHODS OF GENERATING IDEAS
Focused Group Discussion (FGD)
 A moderator handles a very open, free-
flowing, and in-depth discussion with a
group of people who can provide insightful
ideas about a new product or service that
will fill a market need
Brainstorming
 An activity that allows the participants to
share creative ideas. It is also a fun
discussion with lenient rules.
 following rules: (a) no destructive criticism
or judgement is allowed (b) wilder ideas are
accepted, (c) more ideas are preferred, and
(d) improvement of others’ ideas
Brain writing or Internet Brainstorming
 Same as brainstorming except that the
channel used is not face-to-face, but in
writing or online.
Problem Inventory Analysis
 Similar to FGD except that the participants
are already given an inventory of product or
service problems.
SCREENING THE OPPORTUNITY
 Opportunity Screening is the process of
cautiously selecting the best opportunity.
 The entrepreneur should apply due diligence
and independent judgment in selecting the
 opportunities that have a potential and
eliminate those that are not within the scope
of the entrepreneur’s risk appetite
 Risk appetite- refers to the entrepreneur’s
tolerance of business risk.

WHEN TO SAY NO TO AN
OPPORTUNITY?
If DOES NOT contain any of these business
opportunity elements
 Has superior value to customers
 Solves a compelling problem, issue, a need,
or a want
 Is a potential cash cow?
 Matches with the entrepreneur’s skills,
resources, and risk appetite

SEIZING THE OPPORTUNITY

 Opportunity Seizing this is the “pushing
through” with the chosen opportunity.
Entrepreneurs should make the best out of this
opportunity, and they should exert effort and full
dedication for the success of the new venture.