Applied

Entrepreneurship

SESSION 1 : INTRODUCTION OF THE

ENTREPRENEURSHIP

Created by: MR. JOSUA U. CABURAL

 What is ENTREPRENEURSHIP?

A system of operating business in which opportunities existing within a

scope of a market are exploited.
Entrepreneurship’s foundations are based on ECONOMICS and others
such disciplines such as HISTORY, POLITICS, EDUCATION,
CULTURE, EXPERIENCE and NETWORKING.
Why ECONOMICS?
Why HISTORY?
Why POLITICS?
Why EDUCATION?
Why CULTURE?
Why EXPERIENCE?
Why NETWORKING?
Do you see yourself making
business someday?
 NATURE OF A BUSINESS
Many industry observers have debated on the
origin of entrepreneurship. Economist and
Historians accepts that concepts of an
ENTREPRENEUR is derived from French
concept entreprendre, which matches closely
with the English concept of business conduct; in
the sense- “to undertake”.
 Entrepreneur vs. Intrapreneur
   
Entrepreneur Intrapreneur

1. He is an employer 1. He is an employee

1. Independent in operation 1. Depends on the organization to implement his ideas.

1. Bears all risk involved in enterprise. 1. Does not bear all the risk.

1. Exhibit higher need for achievement. 1. May not have high need achievement.

1. Profit is the reward. 1. Attractive salary, promotion, & incentives are the reward.

1. May not have formal qualifications. 1. Should have some professional / technical qualifications.

1. Do not have any boundary for operation. 1. He has to operate within the organizational policies.
 Entrepreneurship and Economic Development
Economic Development is a scheme aimed at improving the
living standards of the nation’s citizenry.

How to achieve ECONOMIC DEVELOPMENT?

To achieve economic development goals, proper management
of the following elements is necessary:
1.  Human resources;
2.  Natural resources;
3.  Capital formation;
4. Technology;
The effective and efficient utilization of the various resource
elements contribute to the ECONOMIC GROWTH.
 ENTREPRENEURSHIP OPTIONS
• There are many ways to become an entrepreneur. Industries where
entrepreneurship career is possible are online/internet services, personal
service, manufacturing or trading.
• When starting a business, you can come up with a new business concept
or you can study the concept of an existing business and start it in another
location. You can improve the general idea of the business, but do not
infringe their trademarks, copyrights, or other protected intellectual
property.
 Types of Business
• Home-Based Business;
• Buy a Franchise;
• Independent Contracting;
• Technology-based/ Online Business; and
• Buy an Existing Business
 TYPES OF ENTREPRENEURS
• Innovative Entrepreneurs– he/she is more interested in introducing some
new ideas into the market, or organization.

• Imitating Entrepreneurs– referred as ‘copy cats’. The ones who observed

an existing business and replicate it in a manner where all the deficiencies
of the original business model are addressed and all its efficiencies are
retained
 TYPES OF ENTREPRENEURS

• Fabian Entrepreneurs– these are entrepreneurs that are very careful in

their approaches and cautious in adopting any changes.

• Drone Entrepreneurs– these are entrepreneurs who do not like changes,

known to be as ‘old school’. They want to do their business in their own
traditional or orthodox methods of production and systems.
 Roles of an Entrepreneur

•Economic Change;
•Social Change;
•Technological Change;