GEL 214

Entrepreneurial Mind
Lesson 1
Nature and Development of
Entrepreneurship
 • At the end of this module, you are
expected to:
• a. Define Entrepreneurship and
Entrepreneur;
• b. Identify the attributes of an
entrepreneur; and
• c. Explore opportunities for
Entrepreneurs.
• D. Understand the role of
entrepreneurship in economic
development

OBJECTIVES
Define
Entrepreneurship?
and
What is an
entrepreneur?
• Derived from French word Enterprendre means
“to undertake”
• To an economist: Entrepreneur is a person who
bring resources, labor, material & other assets
into combination that make their value greater
than before
• To a businessman: An entrepreneur appears as a
threat, a competitor.
• To a psychologist: a person that is driven by a
certain forces

Entrepreneur
• Is an owner or manager of a business
enterprise who makes money through
risk and initiative.

Entrepreneur
• An activity undertaking innovations, finance
and business acumen in an effort to transform
innovations into economic goods or services.
• It is the process of creating something new
with value by devoting their necessary time
and effort.
• It is a dynamic process of vision, change and
creation

Entrepreneurship
Types of
Entrepreneur
• Motivated by the desire to help or address,
improve and transform social, environmental,
educational and economic conditions like poverty
and educational deprivation rather than to profit.

• They seek innovative solution to global problems

than be copied by others to enact change.

Social Entrepreneur
• One who continuously comes up with new ideas
and starts new business.
• They are more likely to experience repeated
entrepreneurial success. They take risks and
recover form failure.

Serial Entrepreneur
• They place passion before profit when launching
a business in order to combine personal interests
and talent with the ability to earn a living.

Lifestyle Entrepreneur
• Has no prior business ownership experience as a
business founder, inheritor or purchaser.

Novice Entrepreneur
• Has prior business ownership
experience.

Habitual Entrepreneur
• In the process of starting a new
business.
• Can be either a novice or a habitual
entrepreneur

Nascent Entrepreneur
Why do we need to
study
entrepreneurship?
How
entrepreneurship
does affect us?
• Entrepreneurship teach us to..
• creates opportunity
• ensures social justice
• instills confidence
• stimulates the economy
• take risks
• fail and to persevere
• become creative, inventive and
innovative
• The 1987 Philippine Constitution recognizes
entrepreneurship as an engine of economic growth.
• -Article XII Section 1 highlights the role of private
enterprises in supporting equitable distribution of income
and wealth, sustaining production of goods and services
and expanding productivity, therefore raising the quality
of life.

Entrepreneurship is a key
driver of our economy.
• -People exposed to entrepreneurship frequently express
that they have more opportunity to exercise creative
freedoms, higher self-esteem, and an overall greater sense
of control over their own lives.
• -Entrepreneurship is a way of inspiring creative
individuals to pursue opportunities despite its risks.

Entrepreneurship is more than just

an economic term — it is a way of
thinking.
 Career
Opportunities
for
Entrepreneurs
 • Advice about business issues, such as
the development and implementation
of business plans, how streamline
operations or how to expand into new
market.

Business Consultant
 • Person who evaluates a business
systems, procedures and operation,
and may also review business
financial matters.

Management Analysts
• Someone who works in sales or run the department needs
to know how business run. They need to know how to
represent a company, manage accounts and follow up on
leads.

Sales
• Understanding business concepts,
procedures and practices with all of
training and education received from
learning entrepreneurship are prepared for
this type of job.

Research and
Development
• Raise money for charitable or nonprofit
organization, companies, and/or foundation
grants. Learn different methods of
fundraising and choose those that are truly
best suited for you organization.

Not-for-Profit Fundraiser
• Raise money for charitable or nonprofit
organization, companies, and/or foundation
grants. Learn different methods of
fundraising and choose those that are truly
best suited for you organization.

Not-for-Profit Fundraiser
• An inside entrepreneur or within a large
firm, who uses entrepreneurial skills
without incurring the risks associated with
those activates.
A manager within a company…

Intrapreneur
What Makes Someone an
Entrepreneur?
Why?
Wala kay
Lovelife?
What Makes Someone an
Entrepreneur?
8 Personal Attributes
of an Entrepreneur
 The spark that drives the
development of new products or
services or ways to do business. It
is the push for innovation and
improvement.

Creativity
Is what motivates the entrepreneur
to work hard. Planning of an ideas
must be joined by hard work to
succeed.

Dedication
 The extremely strong desire to
achieve success. It includes
persistence and the ability to
bounce back after rough times.

Determination
Dedication
VS.
Determination
Dedication is defined as the quality of being
dedicated or committed to a task or purpose.
Synonyms include commitment, application,
diligence, industry, resolve, enthusiasm, zeal,
conscientiousness, perseverance, persistence,
tenacity, drive, staying power;

Determination is defined as firmness of purpose;

resoluteness. Synonyms include resolution,
resolve, willpower, strength of character, single-
mindedness, purposefulness, intentness.
 The ability to move quickly in
response to changing market needs.
It is being true to a dream while
also being mindful of market
realities.

Flexibility
 The ability to create
rules and to set goals

Leadership
 Feeling of intense enthusiasm
towards or compelling desire for
someone or something. What
gets entrepreneurs started and
keeps them there.

Passion
 Is self-assurance in one's
personal judgment, ability,
power, etc. Comes from
thorough planning, which
reduces uncertainty and the level
of risk

Self-confidence
 Consists of common sense
joined with knowledge or
experience in a related business
or endeavor

Smart
Role of Entrepreneurship in
Economic Development
• It involves more than just increasing per capita
output and income, it involves change in business
and society.
• This change is accompanied by growth and
increased output, which allows more wealth to be
divided among the various participants

Role of Entrepreneurship
• One theory of economic growth depicts innovation
as the key not only in developing new products but
also stimulating investment interest in the new
ventures being created.
• It is the process through which innovation develops
and commercializes through entrepreneurial activity
which in turn stimulates economic growth

What facilitates needed

change and development?
 Slide Presentation of
Johemie Lopez Quinones
San Beda University

Lecture Manual of
Rosewin Sevandal
University of Science and Technology of Southern Philippines

Lecture Compilation of
Ana Marie M. Somoray, MBA
Others:
Wikipedia and etc. – Online Dictionaries
EntrePinoys – Business Opportunities
DTI – Small Medium Enterprise and
Business Plan
DSRD – Risk Management Guide for Small Business

References:
THE END!
GET ¼ FOR A
QUIZ!
 Next Meeting:
GROUP REPORTING
GROUP YOURSELF INTO
5 (6 per group)
Write you name of
the group in ¼ and
pass.
Report is PPT
 G1: Entrepreneurial
Mind & Entrepreneurial
Competency
(Sept 4)
 G2: Design Thinking
Process with Creativity
and Innovation
(Sept 11)
 G3: Micro-Small-
Medium Enterprise
(Sept 18)
 G4: Forms of Small
Business Ownership,
Registering and
Organizing
(Sept 25)
MIDTERM EXAM
(Sep 30-Oct 4)
 G5: Business
Opportunity and
Environmental
Scanning
(Oct 9)
 Business Plan
(Oct 13 – Nov 30)
1. A person who own or manage a business.
2. A process of creating something new.
3. Types of Entrepreneurs (3-8)
4. French word of entrepreneur is __________ (9)
5. An employee within a large company is .. (10)
6. Attributes of an Entrepreneur (11-18)
7. Career Opportunities of an Entrepreneur (19-20)

QUIZ