CESocSci 4 / The Entrepreneurial Mind

S.Y. ‘23 - ‘24 | SEM #2 | Entrepreneurial Mindset Chapter 2: Entrepreneurial Mindset and Opportunity
Recognition

– 2nd SEM WEEK #3 –

Commitment Persist amidst problems
2.0 INTRODUCTION
Optimism Hopeful in exploring its many
● A constant debate whether entrepreneurs are learning opportunities
self-made or they possess unique gifts
Flexibility Deal with a series of difficult
● Entrepreneurs are mistaken to be born with
situations, solve problems
exceptional genes
easily and make progress from
● Entrepreneurial mindset makes possible:
obstacles
1. Innovations
2. Taking risks
Ownership Always trust that their success
3. Ability to accept failures
comes from their own ability

Mindset: Its Characteristics and Essentials Leadership Always guides, motivates, and
empowers his team
A mindset is a belief that qualities like intelligence and Connection Creating a network
talent are fixed or changeable traits.
● Fixed mindset perceives that their talents and Self-respect Take care of both the body,
abilities are set. mind, and spirit
● Growth mindset trusts that traits can be
changed, developed, and strengthened by
working on them.
2.2 Essentials of the Entrepreneurial Mindset

Fixed Mindset Growth Mindset

1. Passion first - starting businesses according
to the entrepreneur’s passion
I’m either good at it, or I can learn anything I
2. Everything is possible - capable of
I’m not. want to.
accomplishing unexpected results
3. 100% accountable - believe that they have the
When I’m frustrated, I When I’m frustrated, I
power to choose their responses to any
give up. persevere.
circumstance
I don’t like to be I want to challenge 4. We are connected - lead by helping other
challenged. myself. people to do their tasks and fulfill their dreams
5. Live life to give - offer their time and resources
When I fail, I’m no good. When I fail, I learn. for a valuable cause
6. Attitude of gratefulness - recognition of all
Tell me I’m smart. Tell me I try hard. positives in every experience and be thankful
7. The time is now
If you succeed, I feel If you succeed, I’m
threatened. inspired. 2.3 Entrepreneurship as a habit
My abilities determine My effort and attitude
everything. determine everything. Habit is an unconscious behavior done often and
regularly. Good habits can be acquired using the “habit
loop”.
2.1 Characteristics of an Entrepreneurial ● The Self-Leadership Habit - practice of
Mindset purposely influencing and controlling one’s
behavior, actions, thinking, and feeling.
● The Creativity Habit - turning fresh ideas,
Characteristic Description insights, inventions, products or artistic
objects that are considered to be unique,
Curiosity Understand things with a new useful, and of value to others
standpoint ● The Improvisation Habit - the unstructured
way of creating something in the absence of
planning

PPT | LECTURE | TEXTBOOK : ENTREPRENEURIAL MINDSET CESocSci4 SEM2 REVIEWER PAGE 1

 CESocSci 4 / The Entrepreneurial Mind
S.Y. ‘23 - ‘24 | SEM #2 | Entrepreneurial Mindset Chapter 2: Entrepreneurial Mindset and Opportunity
Recognition

● Prior Knowledge
2.4 Self-Leadership Needs the Implementation Prior knowledge is the information
of 3 Important Strategies
gathered from the combined life and work
experiences
● Behavior-focused - enhancing self-awareness Ex. Dra. Belo’s Belo Medical Group - Victoria
to manage behaviors especially when dealing Belo
with essential but not-so-good tasks
■ Self-Observation, Self-goal Setting, ● Pattern Recognition
Self-reward, Self-punishment, Pattern recognition refers to
Self-cueing identifying relationships between seemingly
● Natural Reward - making every tasks enjoyable isolated things or occasions
and emphasizing the positive aspects Ex. Salt Lamp - Asia Mijeno
● Constructive-thought - creating positive and
productive means of thinking and
advantageous to the performance of
2.8 From Idea Generation to Opportunity
entrepreneurs Recognition

2.5 Opportunity Recognition Using Mindset
Opportunity is a means to generate profits by
creating unique, innovative, and desirable products
or services and considering social value and
environmental value.
Opportunity recognition is a process by which
individuals and businesses makes use their
entrepreneurial mindset in order to establish new
business or ideas
● Identify - problems that customers are trying
to solve and are spending money to solve
● Discover - for ideas in problem-rich
environment
● Enhance - the ideas and expanding to new
applications
● Anticipate - change and analyzing future
scenarios
● Target - a particular market
● Evaluate - whether the solution solves the
problem

The right mindset when not utilized, would mean

missed opportunity.

2.6 How to start with ideas…

2.7 Alertness, Prior Knowledge, and Pattern

Recognition

● Alertness
Alertness refers to the ability to easily
pinpoint opportunities in the environment
Ex. Island Souvenirs - Jonathan Jay Aldeguer

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