Heritage Academy of the Phil., Inc.

INNOPRENEURSHIP:
ENTREPRENEURSHIP + INNOVATION
Prepared by: IRENE MAR T. VALDEZ

Class:
GRADE 12 - All Strand
Part 1:

Introduction to Entrepreneurship
Because of the capacity for changing status quo or for changing rules of business,
entrepreneurs are often described as innovators, or creative minds that can make things
happen. While some entrepreneurs are also innovators, this is not always the case. it is
important to make this distinction as making things happen is not the same as making
new things happen.
Who is an Entrepreneur?
An entrepreneur is an owner of a business who invests his/her resources to
bring an idea to life, setting the direction that transforms that idea into
reality, thus providing and gaining value that balances effort, purpose and
profit.
 5 COMPONENTS OF AN ENTREPRENEUR
5 COMPONENTS OF KEY FACTORS FOR
WHAT IT INVOLVES
AN ENTREPRENEUR SUCCESS
1.Owner who invests Entails risk taking, hence, a Commitment
resources person can be an entrepreneur if
he/she has reasonable risk
appetite, not just any risk but
calculated risk taking.
2.Brings an idea to The idea may or may not be Competency
life coming from the entrepreneur,
but turning an idea to a revenue
maximization entails defining the
best options.
3.Setting direction Entails getting quality Competency
information and making choices
from these pieces of information,
mindful of heuristics as well as
biases in decision-making.
4.Making things Entails the need to ensure all the Coordination
happen interdependent elements are in
harmony to attain defined goals.
5.Adding value Entails financial understanding Commitment
that the reward of
entrepreneurship needs to be
much higher than putting cash
in high-yielding financial
investment, such as preferred
shares with guaranteed dividend.
Who is an Innovator?
An innovator is a person who
introduces either a new process,
product, service or business model
to the marketplace that becomes
commercially successful.

This description is different from an

innovator who creates something
new but has not attained
commercial success.
2 ELEMENTS OF INNOVATION

New Commercial Success

Anything new requires customer acceptance and there must
be a critical mass of target customers willing to pay for the
innovation.
Definition
Creativity
The ability to develop new ideas and
discover new ways of looking at
problems and opportunities.

Innovation
The ability to apply creative solutions to
problems or opportunities to enhance or
enrich people’s lives.
Why be an Entrepreneur?

to enjoy the freedom or control of

being the owner-boss
financial independence much
larger than being an employee
personal growth from the
boredom you have been doing in
the past
Relevance of Studying
Entrepreneurship and Innovation
Entrepreneurs are modern day rock stars!

Entrepreneurship is a key to economy.

Business + Personal Plan

1 2
Business Plan Personal Goals
Any firm needs to have a It is important to determine if
business plan, whether it is a the personal goals of partners
written document or a simpler fit so the business proceeds in
outline of a business model. one direction and focus.
3
Growth Goals
Entrepreneurs need to decide
if they want to grow slowly but
surely, or attain rapid growth.
Prosperity for All
Profit is a requisite for a
business.

Every business starts with an Investment of cash is needed to

idea. bring the idea to life.
Wealth Conversion Principle
CASH

INVENTORIES RECEIVABLES
 Ss Requisites to Prosperity
CASH

UAD

SP
EE
SQ

D
INVENTORIES RECEIVABLES
SPREAD
 3 Cs Key Factors to Successful Entrepreneurship

Commitment Coordination Competency

-is a strong drive to -is the organization of -is having a
achieve goals and different people or combination of ability,
objectives through groups coming from attitude and behavior
focus and pro-active various functions to to do a particular role
follow-through. attain efficiency, or job repetitively.
effectiveness and/or
impact.
Gatekeepers of What gives us an edge?
the 4-Gate Model

Interests and
Gates MSGR's video Expectations Gatekeepers
chat feares

Preparation Profit and Dividend Owners and stockholders

Marketing Quality and Good Price Customers

Execution High Pay and Work-Life Harmony Employees

Self-Leadership Fulfillment Self

Conclusion
Even if entrepreneurs have passed through
the first gate, they still need to enter the
subsequent gates.
The inability to enter any gate at any time
stops the momentum, hence, the
importance of self-leadership, this last gate
that is dependent on self, and one's sense
of discipline.
Since the last gate is indispensable, an
investor often looks at the personal
qualities of the entrepreneur to know his or
her adversity quotient, as this ability to
bounce back is an important trait of
successful entrepreneurs.
Assignment:
Research the stories of the most successful entrepreneurs in the
Philippines, the businesses they ventured, their products and their
contributions in our country and to our economy.

1. Henry Sy
2. Tony Tan Caktiong
3. John Gokongwei
4. Lucio Tan
5. Mariano Que
6. Edgar Sia
7. Socorro Ramos
 THAP, Inc.

THANK YOU
& GOD BLESS!

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