CHAPTER II

ENTREPRENEURS AND
ENTREPRENEURIAL
COMPETENCIES
 Why do
entrepreneurs
think differently
from other
people?
• The word “entrepreneur” is derived
from the French word entreprendre,
meaning, “to undertake.”
• The entrepreneur is the founder and
creator of the enterprise who makes
use of the opportunities that abound
to start or grow a business knowing
that there are risks involved in such
undertaking.
 LESSON 1
CONCEPT OF ENTREPRENEURS OF TODAY
There is no universal definition of an
entrepreneur. Being an entrepreneur means
different things to different people.
ECONOMIST
• It is someone who brings resources, labor,
materials, and other assets into combinations
that make their value greater than before;
• It is also the one who “introduces changes,
innovations, and a new order.”
PSYCHOLOGIST
• a person who is ”typically driven by certain
forces such as the need to obtain or attain
something, to experiment, to accomplish, or
perhaps to escape the authority of others,” is
an entrepreneur.
MANAGEMENT
• The entrepreneur is “someone who identifies
opportunities, plans, mobilizes resources,
manages, and assumes the risks of a business
to have a positive impact on society.”
• The 21st century is considered as the
entrepreneurial era. This number of
entrepreneur increases every year, such that in
2006, about half a billion people worldwide
were either actively engaged in starting a new
venture, or were owner-managers of a new
enterprises.
• The Global Entrepreneurship Monitor (GEM)
reported that also in 2006, approximately 19
million Filipinos, or 39% of the population, are
engaged in various types of business activity.
• GEM further recorded that Philippines had the
highest established business rate globally, with
one out of five Filipinos or 19.72% owning and
managing an established business.
• Globalization is coupled with changes in the
social, economic, political, and technological
environment. These factors altered the specific
dimensions of being an entrepreneur. What is
emerging as the characteristics of entrepreneurs
today is shown in the table below:
ENTREPRENEUR IN THE PAST TODAY
DIMENSION
EDUCATIONAL • Less educated • Highly educated
ATTAINMENT

AGE • Older • Younger

 ENTREPRENEUR IN THE PAST TODAY
DIMENSION
GENDER • Dominated by • Mixed ownership
males by women and
men

PREVIOUS • Less business • More business or

EXPERIENCE and employment employment
experience experience
 ENTREPRENEUR IN THE PAST TODAY
DIMENSION
UTILIZATION OF • Relies on manual • Proficient in and
INFORMATION systems uses to large
TECHNOLOGY extent
information
technology
USE OF WORK • Highly • More flexible to
STRUCTURE structured to better balance
meet work their work and
demands family lives
ENTREPRENEUR IN THE PAST TODAY
DIMENSION
DRIVE • To get ahead • To make
ORIENTATION difference

PERSPECTIVE • “I can do it” • “We can do

OF SELF- it”
CONFIDENCE
Say something
about the
following
pictures
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:
• Calculated risk-taking
is doing everything
possible to get the
odds in their favor,
and they often avoid
taking unnecessary
risks.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:
•Commitment is the
unwavering dedication to
work for the common good
of the society through one’s
business.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:

•Feedback-seeking is
the taking of steps
to know well they
are doing and how
they might improve
their performance.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:
• Perseverance is the
determination to
succeed by overcoming
obstacles and setbacks.
Often, entrepreneurs
will not easily give up
when problems come
their way.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:

• Drive to achieve is
the internal desire to
pursue and attain
challenging goals
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:

• Self-confidence is
the belief that
together with other
people, things can
be done in the
business.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:

• Opportunity orientation is the constant

awareness of opportunities that exist in
everyday life. Entrepreneurs begin with
the opportunities they see and utilize
these opportunities.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:
• Innovativeness is the
ability to come up with
something different or
unique every time. This
trait is often related to
creativity or “thinking-
out-of-the-box” in any
given situation to look for
opportunity for business.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:

•Responsibility is their willingness to

put themselves in situations where
they are personally responsible for
the success or failure of the
business operation.
 PROFILE DIMENSIONS OF FILIPINO
ENTREPRENEURS TODAY:

• Tolerance for failure is using it as a learning

experience. The serious setbacks and
disappointments become an integral part of the
learning process. Entrepreneurs are realistic
enough to expect such difficulties, so they do
not become disappointed, discouraged, or
depressed by a setback or failure.