ENTREPRENEURSHIP

Lesson 1
Concept of Entrepreneurship
• Entrepreneurship is the ability and readiness to
develop, organize and run a business enterprise,
along with any of its uncertainties in order to
make a profit. The most prominent example of
entrepreneurship is the starting of new
businesses.
Meaning of Entrepreneurship
• The word entrepreneurship originates from the
French word “entrependre”, which means “to
undertake”.
• Entrepreneurship is the key to Innovation,
productivity and effective competition.
Meaning of Entrepreneurship
• The activity of setting up a business, taking on
financial risks in the hope of profit.
• Is the process of designing, launching and
running a new business, which is often initially
a small business.
Meaning of Entrepreneur
• The entrepreneur is defined as
someone who has the ability and
desire to establish, administer
and succeed in a startup venture
along with risk entitled to it, to
make profits.
 Meaning of Entrepreneur
• a person who organizes and operate a
business or businesses, taking on greater
than normal financial risk in order to do
so.
• An entrepreneur is an individual who,
rather than working as an employee,
founds and runs a small business,
assuming all the risks and rewards of the
venture.
TYPES OF ENTREPRENEURSHIP
The good & the bad in Entrepreneurship
1. The Reward (the good)
A. Make Money
• When you engage in
entrepreneurial activities, you
give yourself the chance to
become financially
independent.
B. Be your own boss
• Who wouldn’t want to be
the boss? You just have to
be mindful that with the
privileges also come the
responsibilities.
C. Gain self-satisfaction
• Self-satisfaction may come in
a lot of forms, be it through
the profits gained , through
helping employees earn
money, through serving a
community.
The good & the bad in Entrepreneurship
2. The Risk (the bad)
A. Failure
• As an entrepreneur, you gain the
most in the success of the
enterprise but if it fails, you also
have the most to lose in terms of
investments & social stature,
among others.
B. Long hours of hard work
• There is no instant formula
to success. It takes time &
work, and if you happen to
be the entrepreneur it takes
long hours and hard work.
C. Unwanted Responsibilities
• Includes providing decent
wages to employees,
providing value in exchange
for the costumer money &
making sure the
environment does not suffer
while the business prospers.
 ENTREPRENEURS EMPLOYEES
Are the boss Work for the boss

Create jobs Take on jobs

Are not dependent on monthly paycheck Are highly dependent on monthly paycheck

Are willing to work long hours Are highly dependent on monthly paycheck

Build their own assets Work regular hours

Decide who to hire & who they work Have little say over who they work with & to
the company they work for.

Make money even when they asleep. Make money only when they are working.
Why is
Entrepreneurship
is Important?
1. Creation of job opportunities
• Path-breaking offerings by
entrepreneurs, in the form of new goods
and services, result in new employment,
which can produce a cascading effect or
virtuous circle in the economy.
2. Add to National Income
• The cascading effect of increased
employment and higher earnings
contribute to better national income in
form of higher tax revenue and higher
government spending.
3. Create Social Change
• Through their unique offerings of new goods
and services, entrepreneurs break away from
tradition and indirectly support freedom by
reducing dependence on obsolete systems
and technologies.
4. Community Development
• Entrepreneurs regularly nurture entrepreneurial
ventures by other like minded individuals. They
also invest in community projects and provide
financial support to local charities. This enables
further development beyond their own ventures.
5. Enhances standard of living
• Standard of living is a concept built on
increasing amount of consumption of a
variety of goods and services over a
particular period by a household.
6. Promotes Research and Development
• Entrepreneurship is innovation ideas of goods
and services have to be tested by
experimentation. We are indebted to it in
having prosperity in every arena of human life-
economic, technological and cultural.
 Career
Opportunities
For
Entrepreneurship
Mid-Level Management

• At big companies, the C-level folks develop

ideas, the ground force does the work, and
mid-level management converts the idea into
execution. Graduates with entrepreneurial
degrees are well suited for this opportunity.
Business Consultant

• You have the training to help identify

things that others may not pick up on
and the training to know how to fix
them.
Sales

• Someone who works in sales or runs the

department needs to know how businesses
run. They need to know how to represent a
company, manage accounts, and follow up on
leads.
Business Reporter

• If you can write articles, or pick up a quick class to

learn it, you are in a prime position to take the lead
on covering a local business beat. You will understand
the field & concepts and can use your knowledge to
make the business section that much more
interesting & telling.
Filipino Successful
Entrepreneurship
Henry Sy
Deceased
$18.3B
Philippines 50 Richest Net Worth

 Henry Sy, who turned a shoe business into SM

Investments, one of Philippines' largest
conglomerates, died at age 94 on January 19, 2019.
 He started out by learning the ropes of the retail
beside his father in the family's convenience store.
 After saving enough money, he went out on his own
and started his first business with a footwear shop.
 Sy topped the Forbes Philippines Rich List for eleven
years in a row, through 2018, and was worth an
estimated $19 billion when he died.
Tony Tan Caktiong
$1.3B
Real Time Net Worth Philippines

 Tony Tan Caktiong is the founder and chairman of

Jollibee Food, one of the world's fastest-growing
Asian restaurant chains.
 Jollibee operates more than 3,300 eateries in the
Philippines and more than 2,500 stores overseas.
 Jollibee sells Filipino, Chinese, American and
European dishes adapted to a quick-serve and
affordable format.
 With partner Edgar Sia II, Caktiong also owns a
stake in the fast-growing Double Dragon
Properties.
John Gokongwei, Jr.
#3Philippines 50 Richest (Deceased)
$5.8 billion

 John Gokongwei Jr., chairman emeritus of JG

Summit, one of Philippine's largest conglomerates,
died at the age of 93.
 After World War II, he started his own company
called Amasia Trading, which imported flour,
onions, fruits, used clothing, old newspapers, and
magazines from the United States.
 In 1961, he established Consolidated Food
Corporation (later known as CFC Corporation,
which later merged with Universal Robina
Corporation), which launched its instant coffee
brand Blend 45.
Socorro Ramos
Philippines 50 Richest
$3.1 billion

 Socorro Ramos, also known as Nanay Coring, is the

founder of the largest retail bookstore chain in the
Philippines – “National Book Company.” At present,
it has more than 3000 employees as well as fully
operational subsidiaries. But things were not so
perfect and shiny when they first came into being.
It was Socorro C. Ramos whose endless effort and
dedication transitioned the National Book store
from a general merchandise store to the largest
bookstore chain in the Philippines.
Edgar “Injap” Sia
Philippines 50 Richest
$675 million

 Edgar “Injap” Sia is the founder of the fast-food

chain, Mang Inasal. He is the Ernst and Young’s
Small Business Entrepreneurship for 2010. He also
received Urban Leadership Award from Canadian
Urban Institute. In October 2010, Jollibee Food
Corporation acquired 70% of Injap Investment,
Inc., the holding company of Mang Inasal.
Carlos R. Subastil
SHS TVL - AFA Teacher I
Activity # 1 (Essay)
A. Do you see yourself as an
Entrepreneur? Why?
B. How can you be an entrepreneur as
a student enrolled in the Technical-
Vocational Track (TVL)?
C. How important is Entrepreneurship
to society?