The Entrepreneur & Entrepreneurial Behavior

Chapter 4:
CHARACTERISTICS OF AN ENTREPRENEUR:
1. Reasonable Risk Taker Entrepreneurs enjoy challenges
2. Self-Confident Entrepreneurs have strong faith in their abilities
3. Hardworking Successful people attribute their success to hardwork
4. Innovative Entrepreneurs are creative
5. Leadership Entrepreneurs are leaders by nature and function
6. Positive Thinkers Entrepreneurs think of success and bright sides
7. Decision-Makers They always decide on how to make things better

PHASES OF DECISION MAKING:

1. Identify the problem

2. Gather the data about the problem
3. Analyze the data
4. Formulate alternative solutions
5. Select the best solution
6. Implement the solution

CRITERIA OF CHOOSING THE BEST SOLUTION:

1. Presence of Risk
2. Economy of Effort
3. Time Factor
4. Availability of Resources

CONCEPT OF FILIPINO ENTREPRENEUR:

1. Self-Reliant
2. Risk-Taker
3. Industrious
4. Humble
5. Helpful
6. Creative
7. Happy

DETERMINANTS OF SUCCESSFUL ENTREPRENEURSHIP:

1. Ability to conceptualize and plan

2. Ability to manage others
3. Ability to manage time and to learn
4. Ability to adapt to change

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Modular Lecture Notes from the Virtual Library of: JASPER V. DULOSA, M.M.
The Entrepreneur & Entrepreneurial Behavior
Chapter 5:
BASIC SKILLS OF AN ENTREPRENEUR:

The D’s and F’s

D’s F’s

Dream Founder

Determined Faith

Details Focused

Dollar (Peso, in our case) Frugal

Decision Fast

Doer Fun

Distribute Flexible

Destiny Flat

Devotion Forever Improving

Dedication

“What lies behind us, “I’ve Never Been To Me”

Sung by Charlene,
what lies before us,
written and composed by
is nothing compared Ron Miller and Kenneth Hirsch,
to what lies within us”. released in 1977

ADVANTAGES AND DISADVANTAGES OF BECOMING AN ENTREPRENEUR

Advantages

 Opportunity to gain control over your

destiny
 Opportunity to make a difference
 Opportunity to reach your full potential
 Opportunity to reap unlimited profits
 Opportunity to contribute to society
 Opportunity to do what you enjoy doing

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Modular Lecture Notes from the Virtual Library of: JASPER V. DULOSA, M.M.
The Entrepreneur & Entrepreneurial Behavior

Disadvantages

 Uncertainty of income
 Risk of losing your entire invested capital
 Long hours of work
 Lower quality of life until business is established
 High level of stress
 Complete responsibility
 Confrontation of Risks: financial, career, family, social
and psychological

Some Entrepreneurs – In mind…

Mother Teresa did what no other person has done

before – to take care of the poor, destitute and
lepers.

Lance Armstrong
7 times Tour de France champion, his real victory is
with the LAF where he helps hundreds of cancer
victims.

Sir Edmund Hillary was first to conquer Mt. Everest, he came back
to Nepal and helped the Sherpas improve their living conditions.

Mohammad Yunus taught Developmental Economics at the University of

Chitagoong in Bangladesh. Economics, right at the outskirt of the University,
poverty was everywhere. He found out that all that was needed by the
poor was a loan of 27 chakas. That’s how the Grameen Bank started.

WHY ARE THEY ALL ENTREPRENEURS?

Because they had little or no resources at all but they

survived and achieved what they wanted in life.

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Modular Lecture Notes from the Virtual Library of: JASPER V. DULOSA, M.M.
The Entrepreneur & Entrepreneurial Behavior

ABOUT

REASONS WHY WE NEED ENTREPRENEURS:

a) 90% of the world’s jobs are created by

entrepreneurs

b) Source of new products and innovation

c) In the third-world countries, the entrepreneurs

keep the sagging economies alive

d) It’s the entrepreneurs – not the central bank –

that keep the economy moving

e) Finally... It’s not PGMA or P-Noy nor the

government that was responsible for sheltering
the Philippines against bad times – Guess WHO?

f) In the GEM report of 2006-2007, Philippines is

No. 2 in the world for entrepreneurial activity,
Peru is No. 1.

g) Philippines is a “hotbed” of Entrepreneurs...

WHY?

 4 out of 10 adult Filipinos are into business

 Highest in Northern Luzon – 54%, Lowest in
Metro Manila – 30%
 In the early stages, it is highest in Mindanao,
at 73%

h) In the Philippines, 51% of all businesses are

started by women, 55% of all businesses are run
by men, of the nascent businesses, 60% are run
by women.

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Modular Lecture Notes from the Virtual Library of: JASPER V. DULOSA, M.M.