Prayer

Lord, we praise and thank you for your greatness.

Once again, we gather today and offer to you our

class.

Open our minds, that we may be able to learn from

each other as we go through our lesson for today.

Grant that we will be able recognize that all that

we do should be for your greater glory.

All this we ask through your son, Jesus Christ, our

savior and through the guidance of the Holy Spirit,
and the intercession of the Blessed Virgin Mary.

Amen
For today –
ENTREPRENEURSHIP: INTRODUCTION

Learning Objectives:

At the end of the module, the students will be able

to:

 discuss the relevance of the course;

 explain the key concepts of common
competencies;
 explain the core competencies in
Entrepreneurship; and
 explore job opportunities for Entrepreneurship as
a career.
ENTREPRENEURSHIP: CONCEPT

What is an Entrepreneur?
What is an Entrepreneurship?

Entrepreneur – comes from the French word

enterprendre which means “to undertake”. It is a
reference to individuals who have initiated the
establishment of a business enterprise.

Entrepreneurs are innovators. They are willing to

take the risks and generate unique ideas that can
provide profitable solutions to the needs of the
market and the society.
ENTREPRENEURSHIP: CONCEPT
Entrepreneurship – is the art of observing correct
practices in managing and operating a self-owned
wealth-creating business enterprise by providing
goods or services that are valuable to the
customers.

Entrepreneurship – is a science of converting ideas

into business. It is a process of actions of an
entrepreneur who is always in search of something
new to exploit new ideas into gainful opportunities by
accepting the risk and uncertainty of the enterprise. It
is about execution of ideas.

Entrepreneurship – refers to the concept of developing

and managing a business venture in order to gain
profit by taking several risks in the corporate world.
ENTREPRENEURSHIP: CONCEPT
Joseph Schumpeter – Austrian Political Economist and
author of “The Theory of Economic Development”
emphasized the role of entrepreneurs in the process of
economic transformation.

Entrepreneurs introduce to the market –

• Innovations in the form of new products
• New processes
• New markets
• New organizations
TRAITS/QUALITIES/FACTORS AFFECTING
ENTREPRENEURSHIP
1. Personality Factors
a. Initiative - doing things even before being
told.
b. Proactive - which means he can classify
opportunities and seize it.
c. Problem Solver - which means he can retain
good relations with other people.
d. Perseverance - meaning he will pursue things
to get done regardless of challenges.
e. Persuasion - means that he can entice people
to buy even if they don’t want to.
f. A Planner - he makes plans before doing
things and does not fail to monitor it.
TRAITS/QUALITIES/FACTORS AFFECTING
ENTREPRENEURSHIP

1. Personality Factors
g. Risk-taker - which means that he is willing to
gamble but he will calculate it first.
2. Environmental Factors
• Political (tax, corruption, trade control, employment law, discrimination law,
etc),
• Climate (extreme weather, more flooding, water restrictions, supply chain
disruption or collapse),
• legal system (imposed tax and other regulatory measures, profit margin,
profit transportation),
• economic and social conditions (capital, infrastructure,
raw material, labour, market), and
• market situations (consumer behavior, economic trends (countries
economy or demographics of a specific location)
COMMON COMPETENCIES IN
ENTREPRENEURSHIP

1. Decisive - an entrepreneur must be firm in

making decisions.
2. Communicator - an entrepreneur must have a
convincing power.
3. Leader - an entrepreneur must have the
charisma to be obeyed by his employees.
4. Opportunity seeker - an entrepreneur must have
the ability to be the first to see business chances.
5. Proactive – an entrepreneur can control a
situation by making things happen or by preparing
for possible future problems.
COMMON COMPETENCIES IN
ENTREPRENEURSHIP

6. Risk Taker – an entrepreneur has the courage

to pursue business ideas.
7. Innovative - the entrepreneur has big business
ideas and he does not stop improving and thinking
of new worthwhile ideas for his business.
CORE COMPETENCIES IN ENTREPRENEURSHIP

1. Economic and Dynamic Activity -

Entrepreneurship is an economic activity because
it involves the creation and operation of an
enterprise with a view to creating value or wealth
by ensuring optimum utilization of limited
resources (key role in shaping the economy).
2. Innovative – The entrepreneur constantly looks
for new ideas, thus he needs to be creative.
3. Profit Potential - The entrepreneur can be
compensated by his profit coming from the
operation.
4. Risk bearing – The entrepreneur needs to
gamble but wise enough to offset the risk.
COMMON vs CORE COMPETENCIES IN
ENTREPRENEURSHIP

Common Competencies – the skills and

knowledge needed by all people working in a
particular industry

Core Competencies – the specific skills and

knowledge needed in a particular area of work –
industry sector/occupation/job role.
TYPES OF ENTREPRENEURS

1. Innovative Entrepreneurs - They are those who

always make new things by thinking of new ideas.
They have the ability to think newer, better and
more economical ideas. (Steve Jobs cofounder of Apple Computer,
Inc. and Bill Gates cofounded Microsoft Corporation)

2. Imitating Entrepreneurs - They are those who

don’t create new things but only follow the ideas
of other entrepreneurs. (The Samwer brothers, Alexander, Marc
and Oliver, are famous for cloning companies such as eBay, Airbnb, Facebook,
Pinterest and Groupon; Mang Inasal of Edgar J. Sia)

3. Fabian Entrepreneurs - They are skeptical

about changes to be made in the organization.
They don’t initiate but follow only after they are
satisfied. (Kodak story and Anderson co-founder of the social networking
website Myspace)
TYPES OF ENTREPRENEURS
4. Drone Entrepreneurs - They are those who live on
the labor of others. They are die-hard conservatives
and oppose change and even ready to suffer the loss
of business. (Blockbuster an American-based provider of home movie and
video game rental services through video rental shops, DVD-by-mail, streaming,
video on demand, and cinema theater; NETFLIX)

5. Social Entrepreneurs – They are those who

initiate changes and drive social innovation and
transformation in the various fields such as
education, health, human rights, environment and
enterprise development. (Bambike is a social enterprise that
creates well designed and eco-friendly bicycles made from bamboo and leads
award-winning bamboo bike tour experiences)

In summary, an entrepreneurial enterprise can involve:

a. New concepts and/or a new business
b. Existing concept and/or new business
c. Existing concept/existing business
CAREER OPPORTUNITIES OF
ENTREPRENEURSHIP

1. Business Consultant - with the expertise in the

field of entrepreneurship, he can be a very good
source of advices to other entrepreneurs and would
be business men. (Leadership/Team Building Consultant, Advertising
Consultant, Marketing Consultant, Business Management Consultant,
Efficiency Consultant, Environmental Consultant, Financial and Retirement
Consultant, Risk Management Consulting, Stress Management Consultant)

2. Teacher - a graduate of an entrepreneurship

can use his knowledge in teaching.
3. Researcher - the entrepreneur can be employed
as a researcher by an enterprise.
4. Sales - the entrepreneurship graduate can
apply as a salesman.
CAREER OPPORTUNITIES OF
ENTREPRENEURSHIP

5. Business Reporter - the entrepreneur being

expert in the field, can be employed as a business
reporter. (a journalist that reports on the economy
and business developments.)
RELEVANCE OF ENTREPRENEURSHIP
a) Development of managerial capabilities

■ Entrepreneurship helps in identifying and

developing managerial capabilities of
entrepreneurs.
■ Studying a problem, identifying its alternatives,
comparing alternative in terms of cost and benefit
implication and choosing the best alternative help in
sharpening the decision making skills of an
entrepreneur.
■ Besides, these managerial capabilities are used
by entrepreneurs in creating new technologies and
products in place of older technologies and
products resulting in higher performance.
RELEVANCE OF ENTREPRENEURSHIP
b) Creation of organizations

■ Entrepreneurship results in the creation of

organizations when entrepreneurs assemble and
coordinate physical, human and financial resources
and direct them towards achievement of objectives
through managerial skills.

c) Improving standard of living

■ Entrepreneurship helps in making a wide variety

of goods and services available to the society which
results into higher standard of living for the people.
Possessions of luxury cars, computers, mobile
phones, rapid growth of shopping malls, etc. Point
to the rising living standard of people. All these are
due to the efforts of entrepreneurs.
RELEVANCE OF ENTREPRENEURSHIP
d) Means of economic development.

■ Entrepreneurship involves creation and use of

innovative ideas, maximization of output from given
resources, and development of managerial skills. All
these factors are essential to the development of a
country.
GROUP ACTIVITY 1: Let Me Know
Instructions: Give at least five (5) names of
entrepreneurs that you know, may it be from your
locality or within the Philippines. Identify what are
their common traits as entrepreneurs.
Explain the following questions below about the
competencies of entrepreneurs.
1. What characteristics can you observe or see that
are common among the entrepreneurs that you have
listed?
2. Who among the entrepreneurs that you mentioned
do you admire the most and why?
3. In your own opinion, what do you need to possess
to become a successful entrepreneur?
INDIVIDUAL ACTIVITY 1: A Self-Assessment on
the Qualities of Entrepreneurs
Instructions: Examine yourself on your own
personal characteristics and see if you possess
some of the entrepreneurial traits. Check out, too,
which areas you can improve on. As truthfully as
you can, check your answer on the following
statements.
INDIVIDUAL ACTIVITY 1: A Self-Assessment on
the Qualities of Entrepreneurs
INDIVIDUAL ACTIVITY 2: “From Scrap to Craft”
Instructions: Make one (1) product of your own
using any used materials you can find from your
home. After that, you are going to have a selfie with
your product. You also have to write your
experience in making the product. Both your selfie
and your write-up will be pasted and written in a
bond paper. Your product will be rated according to
the rubrics below.

Originality -
20pts.
Creativity - 15pts.
Relevance - 10pts.
Appearance - 5pts.
Total - 50pts.
INDIVIDUAL ACTIVITY 2: “From Scrap to Craft”
Processing Questions:

Instruction: Based on the activity, answer the

following questions. Write your answer on the space
provided below each number.

1. How did you find the activity?

2. What comes first in your mind when you make
the product?
3. Why did you come up with that kind of a product?
4. How did you come up with the product?
5. Are there problems or opportunities that you
want to give solutions out of your product? What
are these?
6. Is your product potential for business? Give your
reason.
INDIVIDUAL ACTIVITY 2: “From Scrap to Craft”
Processing Questions:

7. What are the benefits that your product could

give to the society?
8. Name some characteristics or traits that you
found necessary in making the product.

Note/s:
*You can answer the processing questions individually or you can do a
write-up in a narrative form
Thank you
and have a
nice day 