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TAGBILARAN CITY COLLEGE

College of Business and Industry
Tagbilaran City, Bohol

Course Code OA315 Instructor Charwen Namocatcat

Course Title Entrepreneurial Email
cnamocatcat.tcc@gmail.com
Behavior Competencies
Course Credits Contact Charwin Namocatcat Galos (fb)
3 units
Number (0927) 970 6415
Course Consultation
OAd Core Course 8 AM – 5 PM (Monday-Friday)
Classification Hours
Pre-Requisite(s) Consultation
None TCC Faculty Office
Venue

Learning Module 1: Introduction Entrepreneurship (Part I)

Duration of Delivery: January 23 – 27, 2023
Due Date of Deliverables: January 27, 2023

Learning Outcomes:
1. Define Entrepreneur and Entrepreneurship.
2. Distinguish between Entrepreneur and Entrepreneurship.
3. Identify the important aspects of Entrepreneurship.
4. Identify the different types of Entrepreneurships.
5. Apprehend the Benefits of being an Entrepreneur.

ENTREPRENEUR AND ENTREPRENEURSHIP

What is an Entrepreneur?
An Entrepreneur is a person who sees an opportunity in the market gathers his/her resources and
creates and grows a business venture to meet those needs. This person will bear the risk and will be
rewarded with profit if the venture is successful. An entrepreneur undertakes innovations, finance and
business knowledge in an effort to transform innovations into economic goods.
The word entrepreneur originates from the French word, entreprendre, which means "to undertake" and
is believed to have coined the word "entrepreneur" in the 19th century. He defined an entrepreneur as "one
who undertakes an enterprise, especially a contractor, acting as intermediary between capital and labor."

So based on the above

definitions an entrepreneur Be a risk taker Be innovative
must:

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Possess business See potential

knowledge opportunities in the
community

What is Entrepreneurship?
Entrepreneurship is the process of identifying business opportunities, allocating resources, and taking
risks to produce goods and services of value, through creative and innovative processes, to satisfy unmet
consumer demands.

Entrepreneurship is the process of setting up or establishing a business, taking it from an idea to

realization. However, Entrepreneurship is more than simply starting or operating a small business. This is
evident in the responses from the people in the cartoon below.
It is true that entrepreneurship is both
a science and an art. The science
lies in the proven process of planning
and managing business. The art lies
in the innovative thought,
implementation and growth of a
business.

IMPORTANT ASPECTS OF ENTREPRENEURSHIP

Building upon the definition, Nieman et al, (2004:9) identified the following concepts as
integral to the understanding of entrepreneurship. Entrepreneurship means that an
individual must be able to:

 Identify an opportunity ‐ This means that there must be a real business opportunity.
 Innovation and creativity ‐ Something new and different is required that is needed by a target
audience.
 Gather resources ‐ Capital, labour and operating equipment must be found.
 Create and grow a business ‐ This means the start of a new business venture or the conversion of
an existing business.
 Take risk ‐ There will be both personal and financial risks.
 Create rewards ‐ Reward can be in the form of profit or increased value of the business.
 Manage a business ‐ This means that there must be planning, organisation, leadership and control
of all the functions.

We can distinguish and conclude that entrepreneurship is the business process and the entrepreneur
is the person involved in implementing the entrepreneurial process.

DIFFERENT TYPES OF ENTREPRENEURSHIP

The following are the 5 Types of Entrepreneurship

1. Small Business Entrepreneurship
Small business entrepreneurship is the idea of
opening a business without turning it into a large
business or opening many chains. A single-location
restaurant, one grocery shop, or a retail shop to sell
your handmade goods would all be an example of
small business entrepreneurship. These individuals
usually invest their own money and succeed if their
business turns a profit, which they live off of. They
don't have outside investors and will only take a loan if
it helps continue the business. These small
businesses are often made up of family members and
friends.
Real-world example: Chances are you don’t have to go
far to find a good example of small business
entrepreneurship. Many local businesses represent a
family that decided to put its hard-earned cash into
launching a store to serve the surrounding community.
Restaurants are typical examples, with hard-working
families serving delicious meals day in and day out.
Many fail, some succeed, and a few others go on to

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expand to additional locations. Some even create

regional empires.
2. Scalable Startup Business Entrepreneurship
Scalable Startup Business entrepreneurship can be
defined as a business model where an organization is
started on the basis of a unique idea. It involved
everything that ranges from creating a plan to all the
way up launching the business. This form of
Entrepreneurship involved a great sort of work,
education, and experience. These types of companies
often require investors and large amounts of capital to
grow their idea and reach multiple markets.
This type of entrepreneurship commences with a
vision that they can make some changes in the world.
Their goal is to find out the repeatable and scalable
business model. Once they find that model, they
further started raising funds from venture capitalists for
the growth of the business. A small proportion of all
trades are made up of scalable startups because of
the risk capital and outsize return. Facebook,
Instagram, Uber, and online shopping for electronics
are the few examples of the scalable startup business.
Real-world example: Uber started as an idea to
revolutionize the taxi industry and, after attracting
investment, the company exploded and grabbed
massive market share in a very short time. Critics have
since questioned the company’s business practices —
did Uber skirt taxi regulations and pay its ―independent
contractor‖ drivers artificially low wages to create an
unsustainable business model in order to grab an early
foothold in a growing market? But no one can argue
that the company hasn’t dramatically changed how
people get around.

3. Big business Entrepreneurship snatching up a smaller company

Big business Entrepreneurship is a new business
division created within an existing company. The
existing company may be well placed to branch out
into other sectors or it may be well placed to become
involved in new technology. CEOs of these companies
either foresee a new market for the company or
individuals within the company generate ideas that
they bring to senior management to start the process.
One major disadvantage for a business when it gets
larger is that it starts to move slowly. As a result, big
businesses often try to jump-start entrepreneurship by
and delegating innovation to the new acquisition.
Real-world example: After being partners for years,
Disney finally purchased animation studio Pixar in
2006. Rather than create its own studio to compete
with Pixar, Disney decided it would simply buy the up-
and-coming studio behind Toy Story and other hit
movies. It has proven to be quite the lucrative
arrangement for Disney, which has cashed in on other
blockbuster successes from Pixar since the
acquisition, including WALL-E, Coco, Up, Brave, and
sequels to Toy Story.

4. Social Entrepreneurship Real-world example: Seventh Generation, which sells

Social Entrepreneurship is focused on solving social
problems, such as access to food, money, and
education. The stated goal of these companies is to
create a benefit to society and humankind and make
the world better. They focus on helping communities
or the environment through their products and
services. They are not driven by profits but rather by
helping the world around them.
eco-friendly cleaning and personal care products, was
launched in 1988 in response to growing societal
concerns about the environment since many
household products of the day included harsh
chemicals. The firm donates 10% of pre-tax profits to
community- and environment-focused nonprofits and
businesses. Despite lower profit margins, the company
reportedly managed to pull in $200 million in 2015 —
proving that creating a responsible corporate image
can also make money.

BENEFITS OF BEING AN ENTREPRENEUR

Below are the greatest perks of becoming an entrepreneur:

 Flexibility in Schedule
They are their own bosses, unlike offices and organizations which require work to be done from a specific time and
place. Entrepreneurs have the free will to work in a flexible schedule from any location as preferred. They tailor their
work depending upon their lifestyle and other commitments.

 Greater self-confidence
Nothing boosts your confidence more than battling self-doubt and coming out on top. Many entrepreneurs become more
confident in their self-sufficiency as time goes on and they see what they are truly capable of.

 Constant growth and development

Starting a company forces you to constantly improve your skillset, from marketing to closing deals to creating Excel reports.
There is always more to learn and apply to your business, which can prevent complacency and encourage constant
professional growth.

 Meeting like-minded people

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Businessman Jim Rohn said, ―You are the average of the five people you spend the most time with.‖ By becoming an
entrepreneur, you will join a group of ambitious and helpful people who believe in bettering themselves and the world.
It isn’t hard to imagine that these connections will push you to become a better person along the way. Plus, there are
plenty of opportunities to connect with mentors, brainstorm with fellow professionals, and reach out for help during
tough times.

 Creates Businesses and Job Opportunities for People

When like-minded entrepreneurs get together to coordinate physical, human and financial resources and direct them
towards the achievement of objectives through managerial skills, businesses are developed. Although
entrepreneurship is a business run by one person or the innovator, it involves a lot of factors and the use of resources
which results in the creation of organizations. Further, these organizations are built from the scratch with a number of
skilled people working together. This creates a lot of job opportunities.

 Developing the Economy

Entrepreneurship enables new markets to develop in the form of goods, services and technology. It paves ways of
generating wealth; these higher earnings contribute to increased national income and tax revenues. It promotes
innovation, self-reliance and generates employment opportunities.

 Creating Social Impact

The new products and services innovated by the entrepreneurs encourage consumers to adapt to new trends and
technology. It breaks away from the dependency upon traditional ways of using products/services. They help the
consumers in having an open mind which results in better morale, the standard of living and quality of life. It increases
the foreign exchange revenue with large scale exports of the produced goods and services.

 Leadership experience
Self-discipline, communication skills, passion, optimism, patience, and unrelenting work ethic. Building a company
from the ground up hones these leadership traits, which means that entrepreneurship can transform you into an
inspiring leader both professionally and personally.

 Creating a career that aligns with your values

Aligning your personal values with career values is an intensely gratifying experience. Someone who believes in
respecting the environment, for instance, would probably find a career in renewable energy incredibly fulfilling. You
don’t have to find that perfect job; create it! Entrepreneurship allows you to fashion a life and career that directly align
with your core values, like helping others, saving the environment, or putting family first.

TOPIC SUMMARY 3. There are 4 types of Entrepreneurship namely:

In this topic we have learned that: Small Business Entrepreneurship, Scalable Startup
Business entrepreneurship, Big business
1. Entrepreneurship is a business process and the entrepreneurship, and Social Entrepreneurship.
entrepreneur is a person involved in the
entrepreneurial process. 4. Benefits of being an Entrepreneur include: Flexibility
in schedule, greater self-confidence, constant growth
2. Important aspects of entrepreneurship include: and development, meeting like-minded people, creates
identifying an opportunity, innovation and creativity, businesses and job opportunities for people,
gathering resources, creating and growing a business, developing the economy, creating social impact,
taking risks, being rewarded and managing the leadership experience, and creating a career that
business. aligns with your values.
REFERENCES:
o Kollie, J. et al.,(2011). Introduction to Entrepreneurship. Commonwealth of Learning, Burnaby, British
Columbia.
o Hayes, A. (2021, November 12). Entrepreneur.
Investopedia.https://www.investopedia.com/terms/e/entrepreneur.asp
o Vedantu. (n.d.). Benefits of Entrepreneurship.
https://www.vedantu.com/commerce/benefits-of-entrepreneurship

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