Dimensions of

Development

CHAPTER 1
C. Entrepreneurship
At the end of the module, the students
should be able to:

• Define Entrepreneurship as a concept.

• Discuss some theories on
Entrepreneurship and its condition; and
• Explain the application of Social
Entrepreneurship on the CWTS/NSTP
implementation.
Entrepreneurship
means the ability to set up and build something out of practically
nothing; it is therefore and elementary human, creative act of building and
developing one's resources in order to enhance financial capability.
• It is the process of creating
incremental wealth
This wealth is created by individuals who assume
the major risks in terms of equity, time, and/or
career commitment of providing value for some
product or service.
• It is the process of innovation and new
venture creation through four major
a. Individual;
dimensions:
b. Organization
c. Environment process; and
d. Aided by collaborative networks in governement,
education and institutions.
 Concept of Entrepreneurship
Entrepreneurship is basically aimed to
gear someone toward
self-employment. It generally pertains
to engaging in small and in
medium-sized businesses. An
entrepreneur learns the tenets of
entrepreneurship so he can put up and
operate his own business, whatever the
size or magnitude. But it is not an easy
thing to undertake, especially if one is
fresh form college or has no business
experience.
 Entrepreneurship is the process of starting something
different with value by devouring the necessary time and
effort, assuming the accompanying financial, physical,
and social risks, and receiving the resulting rewards of
monetary and personal satisfaction.
Hirsh and Brush
Filipino Values Favorable to
Entrepreneurship
1. Pakikipagkapwa (human
relations)
2. Pakikisama (togetherness)
3. Malasakit (concern)
4. Utang na Loob (debt of gratitude)
5. Amor propio (self-esteem)
6. Bayanihan (cooperative spirit)
7. Lakas ng loob (risk taking)
Filipino Values Favorable to
Entrepreneurship
8. Bahala na (let-fate-decide
attitude)
9. Pakikipagsapalaran (adventure)
10. Close family ties
11. Awa (compassion)
12. Sipag (hard work/industry)
13. Katipiran (thrift or frugality)
14. Pagkamatiisin (endurance)
Filipino Values and Practices that Deter
Entrepreneurship
1. Authoritarian/strict child-rearing
practices
2. Belief in the existence of all-powerful
forces that control the destiny
3. Amorpropio (self-esteem)
4. Bahala na (Let-fate-decide attitude)
5. Close family ties
6. Colonial mentality (preference for
imported things)
Filipino Values Favorable to
Entrepreneurship
9. Crab mentality (putting each other
down)
10. Balat-sibuyas (sensitive to criticism)
11. Ningas-kugon (lacking in
preserving or persistence)
12. Sobrang makisama (tendency to go
along with wishes of the group)
13. Segurista (lack in risk-taking)
Entrepreneur
Is someone who plans, organizes and
puts together all the resources required to
bring a new enterprise into existence and to
run and manage it on a long-term basis.

An entrepreneur is a man or woman who:

• Preceives business opportunities in the
environment;
• Takes risks make use of these business
opportunities;
• Invests his own or borrows money to use in
the business;
• Introduces innovations or improvements to
make the business better, more efficient
and more profitable;
Tasks of Entrepreneurs
1. Entrepreneurs take and accepts
risks
It is quite common label for an enterpreneur to be
called risk-taker. Today, the business environment
provides uncertainties. Risks are involved and
plans can have unexpected outcome.
2. Entrepreneurs own ventures
Owning a venture also characterizes the
entrepreneur. Entrepreneurs find greater pleasure in
working in the business, which they own.
3. Entrepreneurs own ventures
Entrepreneurs are always managers but managers
my not necessarily be entrepreneurs. As managers,
they set the flow of workability and management to
avoid bankruptcy.
Tasks of Entrepreneurs
4. The entrepereneur is a creator; the
manager is a custodian
The entrepreneur is not a problem solver but a
problem finder. He searches the market needs,
opportunities, or overlooked resources and creates
the mechanisms or means, which can be filled,
5. maximized
The entrepreneur
or used. takes risks; the
manager seeks stability.
The entrepreneur does not take the usual track. The
manager clings to the maintenance of profit,
preservation of aspects and other previously
established measures of performance in being
accountable to superiors and subordinates.
Tasks of Entrepreneurs
6. The entrepreneur takes responsibility, the
manager is merely responsible.
What's the difference? Because the entrepreneur is
personally committed to the success of the
venture, and because his business decisions are
solely his own, its failure or success is his own
7.The entrepreneur
making achieve; managers
and be recognized.
attain targets.
Managers often rely only on limited-time based or
profits targets (things attainable for a given period
or a given purpose). Entrepreneurs focus on
achievements on a larger scale; the creation of a
new product or the successful "invasion" of a new
or highly competitive market.
Tasks of Entrepreneurs
8. The entrepreneur are future oriented;
managers are now oriented.
Entrepreneurs may see success even if the
business is down. This is true especially for
entrepreneur who is himself laying the groundwork
for future growth and sucess.
9. The entrepreneur thrive on chaos;
managers thrive on structure.
Because the entrepreneur sets his own goals,
makes his own decisions, and responds to the
demands of the situation and not of predetermined
processes or structures, "invents" mechanisms and
methods dealing with situational problems.
Tasks of Entrepreneurs
10. Entrepreneurs establish new ventures and
improve existing ones.
Establishing new ventures is again one of the
perceptions attached to the entrepreneur.
Entrepreneurs organize different elements of the
venture such as people, machine, materials, etc.
11. Entrepreneurs identify opportunities
in the market.
Opportunities are ever-present. One must be
observant to actively seek it out. Thes may be ideas
and information, which are actually gaps in the
market. This gap provides market potential to
those who find them.
Tasks of Entrepreneurs
12. Entrepreneurs apply their expertise
Entrepreneurs are individuals with distinct
characteristics.
Entrepreneurs are able to identify the area where
they are good. They sharpen their skills to be of
value to investors.
13. Entrepreneurs process market
information.
They are constantly on the watch for any possible
information that may prove vital. This makes them
valuable to investors, as they possess valuable
information needed to make markets more
efficient.
Tasks of Entrepreneurs
14. Entrepreneurs bring innovations.
Innovation is the changing or alteration of the
existing to bring out a new product or idea. They
find new combinations of economic factors
(capital, labor and materials) and utilize them to
increase productivity.
15. Entrepreneurs provide market
efficiency.
The economic system is a complex one. It presents
pictures of strategies and approaches. What
entrepreneurs do is to provide market efficiency by
optimizing the distribution of resources. By
providing efficiency, they satisfy both producers
and
consumers.
Tasks of Entrepreneurs
16. Entrepreneurs maximize investment
returns.
Investors look for individuals who would not only
guarantee return of investments but attainment of
profit as well. Entrepreneurs do that by creating and
managing organizations to give long term benefits
to the investors.
17. Entrepreneurs provide leadership.
Characteristics of an Entrepreneur
1. Good Physical Health.
Health and physical condition of the entrepreneur
must be well maintained. There is also tremendous
stress in meetings, workshops, and planning. The
entrepreneur needs a healthy mind and body.

2. Superior Conceptual
Abilities.
Entrepreneurs have should have the ability to look at
things with a comprehensive perspective. The
innovations and inventions depend largely on the
entrepreneurs ability to recognize and relate various
concepts so he or she may meet the requirements
Characteristics of an Entrepreneur

3. Broad Thinking of the

Generalist.requires a person to know several
Entrepreneurship
tasks the business requires. It is very different from
an individual who works in a company where
specialization is a must.
4. High Self-Confidence.
Entrepreneurs are certain of their abilities. Their
knack and capability make them confident to
accomplish even the most difficult tasks and highly
sensitive situations
Characteristics of an Entrepreneur

5. Strong Personal Drive.

Entrepreneurs have the initiative to take action. They
do not need somebody to jumpstart their actions. As
entrepreneurs, they do not need bosses to monitor
and
motivate them.
6. Need to Control and Direct.
There is a big responsibility and accountability in
engaging in entrepreneurial ventures As such, there
may be a time when the entrepreneur must take full
control and direct the venture towards a much better
position.
Characteristics of an Entrepreneur

7. Moderate Interpersonal
Skills.
Entrepreneurs were found to have moderate
interpersonal skills. Some characteristics the
entrepreneur possesses do not sit well with
everyone.
8. Moderate Risk Takers.
Entrepreneurs study and analyze situations very well
before taking any risks. They study the
circumstances objectively to be able to calculate the
moves they are going to talk.
Characteristics of an Entrepreneur

9. Have a Realistic Outlook.

A grandiose plan is very seldom made unless it is
attainable. Entrepreneurs are attached to objective
realities. In this way they are able t fully utilize their
capabilities and avoid unnecessary efforts.
10. High Degree of Emotional
Stability.
Entrepreneurs know how to strike a balance between
discouragement and enthusiasm. There may be
situations when the obstacles seem impossible to
cross.
Characteristics of an Entrepreneur

11. Have a low Need-Level for

Status.
Entrepreneurs focus on the end result rather than the
perks that come along in the business. They do not
desire to live expensively especially if it
compromises the welfare of the business.
Personal Attributes of
an Entrepreneur
1. Confidence and optimism.
2. Perseverance, dynamism and
leadership.
3. Energy, diligence.
4. Initiative and
resourcefulness.
5. Courage and ability to take
Personal Attributes of
an Entrepreneur
6. Versatility; knowledgeable
about product, market,
machinery and technology.
7. Creativity, imagination and
ability to influence and get along
with others.
8. Commitment and
Personal Attributes of
an Entrepreneur
9. Foresight, accuracy,
thoroughness.
10. Profit orientation.
11. Sense of Power and
ability to learn from
mistakes.
12. Flexibility and clear
Personal Attributes of
an Entrepreneur
13. Positive response to
challenges and independence.
14. Time-competence, efficiency
and ability to make decisions
quickly
15. Aggressiveness.
16. Sensitivity to others and
ability to trust workers.
Characteristics of
Successful Entrepreneurs
1. Commitment and
determination.
2. Desire for Responsibility.
3. Opportunity Obsession.
4. Tolerance for risks, ambiguity
and uncertainties.
5. Creativity and flexibility.
6. Desire for immediate
Characteristics of
Successful Entrepreneurs
8. Motivation to excel.
9. Orientation to the future.
10. Willingness to learn from
failure.
11. Leadership abilities.
12. Hard work.
13. Self-starting.
14. Setting of personal goals.
Characteristics of
Successful Entrepreneurs
16. Confidence.
17. Receptiveness to new ideas.
18. Assertiveness.
19. Information seeking.
20. Eager to learn.
21. Attuned to opportunity.
22. Receptive to change.
23. Commitment to others.
Defining Social
Entrepreneurship
(taken from J. Gregory Dees, Stanford
University, 1998)

• Which combines an emphasis on

discipline and accountability with
the notions of value creation taken
from Say, innovation and change
agents from Schumpeter, pursuit of
opportunity from Drucker, and
resourcefulness from Stevenson,
• An idealized definition, hence, the
closer a person gets to satisfying all
these conditions, the more that
person fits the model of a social
Change agents in the social sector
• Reformers and revolutionaries described by
Schumpeter, but with a social mission;
• Make fundamental changes in ways things are
done in the social sector;
• Their visions are bold, attacking the underlying
• causes of problems,
They often reduce rather
needs than simply treating
rather
symptoms;
than just meeting them;
• They seek to create systematic
changes and sustainable
improvements;
Change agents in the social sector
• Though they may act locally, their actions have
potential to stimulate global improvements in
their chosen arenas, whether that is education,
health care, economic development, the
environment, the arts, or any other social sector
field.
A. Adopting a mission to create and
sustain social value
• The core value of what
distinguishes social entrepreneurs
from business entrepreneurs even
from socially responsible
businesses; for a social
entrepreneur, the social mission is
fundamental;

• Making a profit, creating wealth, or

serving the desires of the
customers may be a part of the
model, but these are means to a
A. Adopting a mission to create and
sustain social value
• Profit is not the gauge of value
creation, nor is customer
satisfaction, social impact is the
gauge;

• Considers long-term social return

on investment creating lasting
improvements; and

• Think about sustaining the

impact.
B. Recognizing and relentlessly
pursuing new opportunities
• Where others see problems,
entrepreneurs see opportunity;

• Not simply driven by the

perception of a social need or by
their compassion, rather they
have a vision of how to achieve
improvement and they are
determined to make their vision
work;
B. Recognizing and relentlessly
pursuing new opportunities
• The models, they devolop and
approaches they can take, and
often do, change as the
entrepreneurs learn what works
and what does not;

• The key element is persistence

combined with willingness to
make adjustments as one goes,

• Rather than giving up when an

obstacle is encountered,
C. Engaging in a process of continuous
innovation, adaptation, and learning
• Entrepreneurs are innovative; they
break new ground, develop new
models, and pioneer new
approaches;

• On the funding side, social

entrepreneurs look for innovative
ways to assure that value;

• Not just a one-time burst of

creativity but a continuous
process of exploring, learning,
C. Engaging in a process of continuous
innovation, adaptation, and learning
• Tend to have a high tolerance for
ambiguity and learn how to
manage risks for themselves and
others;

• They treat failure of a project as a

learning experience, not a
personal tragedy.
D. Acting boldly without being limited by
resources currently in hand
• Social entrepreneurs do not let
their own limited resources keep
them from pursuing their visions;

• Skilled at doing more with less

and they leverage their limited
resources by drawing in partners
and collaborating with others;

• They explore all resource options,

from pure philanthropy to the
commercial methods of the
D. Acting boldly without being limited by
resources currently in hand
• Not bound by sector norms or
traditions;

• Develop resource strategies that

are likely to support and reinforce
their social mission;

• Take calculated risks and

manage the downside, so as to
reduce the harm that will result
from failure; and
E. Exhibiting a heightened sense of accountability
to the constituencies served and for the outcomes
created.
• Social entrepreneurs take steps
to assure they are creating value
by seeking a sound
understanding of the
constituencies they are serving

• They make sure they have

correctly assessed the needs and
values of the people they intend
to serve and the communities in
which they operate, which in
E. Exhibiting a heightened sense of accountability
to the constituencies served and for the outcomes
created.
• They understand the expectations
and values of their "investors",
including anyone who invests
money, time and/or expertise to
help them;

• They seek to provide real social

improvements to their
beneficiaries and their
communities, as well as attractive
(social and/or financing) return to
E. Exhibiting a heightened sense of accountability
to the constituencies served and for the outcomes
created.
• Creating a fit between
entrepreneurs creates market-like
feedback mechanisms to
reinforce this accountability;

• They assess their progress in

terms of social, financial, and
managerial outcomes, not simply
in terms of their size, outputs, or
processes, and using this
information to make course
Thank You!