ENTREPRENEURSHIP

1st Quarter
LESSON 1
Week 1
INTRODUCTION TO
ENTREPRENEURSHIP
 OBJECTIVES

At the end of the lesson the

student must be able to:
1. Define entrepreneurship
2. Discuss the societal and
economic benefits of
entrepreneurship
3. Explain the common and core
traits of an entrepreneur
4. Value the importance of
entrepreneurship
 INTRODUCTION

Although we may have an inherent aptitude for a discipline or

subject, any skill can be improved if there’s a willingness to
learn. We live in a world where the future is uncertain, and it
belongs to creators and innovators. And that’s why it’s
important to learn and study entrepreneurship.
Entrepreneurship serves as an excellent foundation for the
types of creative, innovative ideas we need to succeed in the
21st century.
 WHAT IS ENTREPRENEURSHIP?

The word entrepreneur originates from the French

word, entre which means “between” and prendre,
which means “to undertake.” In a business context, it
means to start a business. The Merriam-Webster
Dictionary presents the definition of an entrepreneur
as one who organizes, manages, and assumes the
risks of a business or enterprise.
 WHAT IS ENTREPRENEURSHIP?

ENTREPRENEURSHIP is a proactive process of

developing a business venture to make a profit
(Batisan, R. Entrepreneurship). It involves seeking
opportunities for a market, establishing and
operating a business out of the opportunity, and
assessing its risks and rewards through close
monitoring of the operations (Batisan, R.
Entrepreneurship).
 BENEFITS OF ENTREPRENEURSHIP IN
THE ECONOMY AND SOCIETY

1. It produces more jobs 2. It expands economic

that equate to an activities of different
increase in national sectors of society.
income.
 BENEFITS OF ENTREPRENEURSHIP IN
THE ECONOMY AND SOCIETY

3. It introduces new and 4. It improves people’s

innovative products living standards.
and services.
 BENEFITS OF ENTREPRENEURSHIP IN
THE ECONOMY AND SOCIETY

5. It disperses and 6. It controls the local

economic power and wealth and balances,
creates equality. regional development.
 BENEFITS OF ENTREPRENEURSHIP IN
THE ECONOMY AND SOCIETY

7. It reduces social
8. It elicits economic
conflicts and political
independence and
unrest.
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 COMMON AND CORE TRAITS OF
AN ENTREPRENEUR

PROACTIVE
Entrepreneurs are reactive rather
than passive. They ensure that plans
are executed timely and in the most
efficient way.

DECISIVE
Entrepreneurs always have a decision
about their business. They do not settle
for gray areas or unclear solutions.
 COMMON AND CORE TRAITS OF
AN ENTREPRENEUR

AGENTS OF CHANGE
Entrepreneurs are innovation
champions. They are always
motivated new products and
services and introduce them to
the market.

BALANCE
The minds of entrepreneurs should have
a balance between the analytical and
the creative side.
 COMMON AND CORE TRAITS OF
AN ENTREPRENEUR

RISK TAKER
By taking risks, entrepreneurs grab
opportunities and take into
consideration potential various
treats they may encounter.
INNOVATIVE
The minds of entrepreneurs are rich with
big ideas that can add value to their
existing business or could become a
game changer in the industry or
business where they belong.
 COMMON AND CORE TRAITS OF
AN ENTREPRENEUR
HAVE SHARP EYE FOR
OPPORTUNITIES
Entrepreneurs have a talent for
recognizing the net cause and
effect of an opportunity and
decide intelligently if a venture
should be considered or not.
LEADER
Successful entrepreneurs always have
the heart of a leader. To be successful
leaders, they must be a source of
inspiration for their employees.
 COMMON AND CORE TRAITS OF
AN ENTREPRENEUR
SOCIABLE
Soft skills are one of the most
competencies of entrepreneurs as
these establish the relationship
with the most important assets of
the company -- its people and its
customers.
COMMUNICATOR
Entrepreneurs know how to use all
forms of communication to effectively
share ideas and address certain
concerns with their customers or
employees.
 COMMON AND CORE TRAITS OF
AN ENTREPRENEUR

NETWORKER
A network knows the key people
to connect with. Successful
entrepreneurs gain trust of their
valuable network and maintain a
long-lasting relationship with them.
SPECIALIST
Entrepreneurs are experts in their
chosen business. They are tactical and
are very keen with details.
 COMMON AND CORE TRAITS OF
AN ENTREPRENEUR

PROBLEM SOLVER
Entrepreneurs possess critical
thinking skills and look at problems
as challenges or puzzles that they
need to solve.
 REFERENCES

Batisan, R. Entrepreneurship
Generate Your Business Idea, International Labour Organization (ILO), 2015
Otchengco, A. (2020). Market Advantage