LESSON 2.

THE ENTREPRENEUR
 SOCIAL RESPONSIBILITIES OF AN
ENTREPRENEUR
• SOCIAL RESPONSIBILITY – pertains to the act of
being concerned and sensitive toward cultural, social,
economic, and environmental issues.
• One of your roles, as a social entrepreneur, is to establish
positive relationships with different people in order to
establish a better relationship that would benefit the
business.
Here are some of the steps to make social responsibility work:
1. Identify a specific cause that you want to support.
2. Link with other organizations
3. Design a program.
4. Involved employees and customers.
5. Sustain the mission.
 Different people involved in the business operation:
1. Workers
2. Suppliers
3. Customers
4. Government
5. Business organizations and competitors
 Factors Affecting Entrepreneurs

1. Viable business idea

2. General business skills
3. Adequate capital
4. Personality requirements
Personality Requirements
 Personality Requirements
• Includes the necessary attributes of
entrepreneurs to be successful in the
line of business.

• Their personal qualities matter in

determining the factors for
entrepreneurial success.
 a. Passion and motivation
• From concept formulation to
establishing the business and its
operation.

• The drive should always be there to keep

the business going.
 b. Risk - taking
• Pertains to the readiness and willingness of
entrepreneurs to dive deep into the future
of uncertainty.

• Willing to risk their time, energy, and

money.

• They never fail to prepare back up plans.

 c. Dedication and Discipline
• Entrepreneurs enjoy their work.

• There may be times when they

show stubbornness in their
overflowing desire to prove
something about their idea to
increase sales.
 d. Adaptability and Flexibility
• Without these qualities, the business
will surely leads to its failure.

• Needs are constantly changing and

consumer’s needs and wants also
change over time.
e. Understanding the Market

• Can help entrepreneurs plan better

strategies to avoid business downfall.

• They must be up-to-date.

• Greater advantage over the other

competitor.
 f. Financial Management
• Keeping a complete record on
the different financial related
works like expenses and profit
management.
g. Planning
• Is done in advance.

• Entrepreneurs should predict and

anticipate possible solutions to
future problems.

• They can handle problem well.

h. Networking abilities
• Happen when entrepreneurs reach out
to experienced.

• Knowledgeable connections or people

who can help them provide
professionals, and more reliable
advices to their business.
i. Preparedness to take the exit

• is absolutely fine because they know

that there is always a risk in
business.
Answer page 198 - 199
Activity
• Evaluate yourself. List some of your personality that you think will
help you succeed in any line of business. Explain.
GROUP ACTIVITY
-each group will collaborate their ideas about the following quotes.

1. “ Start where you are. Use what you have. Do what you can.”
- Arthur Ashe

2. “ Great things never come from comport zones.”

- Anonymous

3. “ If plan A did not work, always remember that you still have 25 more letters.”

- Anonymous

4. “ The victory of success is half won when one gains the habit of setting and achieving goals”.
- Og Mandino