SUBJECT

LECTURE
TITLE

UNIT TITLE

TOPIC

SUBTOPIC

SUBSUBSUB
● List 1
○ List 2
■ List 3

VIDEO

SUBTOPIC 2

SUBSUBSUB

PARAMETERS DESCRIPTION

ENTREPRENEURSHIP
NAME 1
LECTURE 1
CONCEPTS OF ENTREPRENEURSHIP

1) Business consultant – can be a very good source of

ENTREPRENEURSHIP
- Encouraged by the economy as it provides a lot of
opportunities for unemployed people
Relevance of Entrepreneurship to Organizations
 Development of managerial capabilities – one benefit an
entrepreneur gets to develop managing skills
 Creation of organizations – many organizations will exist
 Improving standard of living – can lift the economic
status of an individual
 Means of economic development – improves the society
where business is located
Entrepreneur – French word: Entreprende – undertake
Factors affecting Entrepreneurship
 Personality factors –
a) Initiative – doing things even before being told
b) Proactive – he can classify opportunities and
seize it
c) Perseverance - pursue things to get done
regardless of challenges
d) Persuasion – can entice people to buy if they
don’t want to
e) A planner – makes plans before doing things and
doesn’t fail to monitor it
f) Risk taker – willing to gamble
advices to other entrepreneurs
2) Teacher – can use knowledge in teaching
3) Researcher – can be employed as a researcher by an
enterprise
4) Sales – can apply as a salesman
5) Business reporter – as an expert, can be employed as a
reporter
Business Plan
- Formal statement or document that contains the plan for the
business
Executive Summary
- A one-page overview of the business and highlights the
important points of each section of the business plan
Vision and Mission Statement – describes where the business is
headed and the future state that it plans to be
Business Description
- Provides a complete description of the business; its
products or services and organization
Industry Background – describes the business environment and
mentions the industry where the business is categorized

 Environmental factors – include political, climate, legal Competitor Analysis – the identification and analysis of the various
system, economic and market conditions competitors of the business
a) Decisive – must be firm in making decisions
b) Communicator – must have convincing power
c) Leader – must have charisma to be obeyed by
the employees
d) Opportunity seeker – must have the ability to be
first to see business chances

e) Proactive – must have the ability to see business

f) Risk taker – courage to pursue
g) Innovative – big business ideas

Core Competencies in Entrepreneurship

1) Economic and Dynamic activity – involves creation and
operation of an enterprise with a view to creating value or
wealth
2) Innovative – looks for new ideas that need to be creative
3) Profit potential – can be compensated by a profit from the
operation
4) Risk bearing – needs to gamble but wise enough to offset
the risk

Types of Entrepreneurs

 Innovative entrepreneur – always make new things by

thinking of new ideas
 Imitating entrepreneur – who don’t create new things
but only follow ideas of other entrepreneurs
 Fabian entrepreneur – skeptical about changes to be
made in the organization
 Drone entrepreneur – rely on the labors of others
 Social entrepreneur – initiate changes and drive social
innovations

Career Opportunities of entrepreneurship

NAME 2