ENTREPRENEURSHIP

Learning Objectives:
1. Define the entrepreneur and
entrepreneurship
2. Distinguish between small business
and ordinary small business
3. Discuss the relevance of the course
4. Understand the principle of
entrepreneurship
Group activity
1. Each group create their own definition of
entrepreneurship & entrepreneur.
2. Assessing the case of Jeanny’s hair saloon, state
the benefits and contributions of entrepreneurship.

• Write your presentation on the paper and each

group choose a speaker of the day to present your
ideas.
Joseph Schumpeter
• Australian economist and political scientist gave
much emphasis on the concept of product
innovation, marketing and production method in
entrepreneurship.

• He describe an entrepreneur as an individual with

distinct social characteristic and attributes.
ENTREPRENEURSHIP
Is the art of observing
correct practices in managing and
operating a self owned, wealth-
creating business enterprise by
providing goods and services that
are valuable to the customers.
Entrepreneur
•Originates from the French word “
entreprendre” which mean to undertake.

•A person or a group of persons who

establishes an enterprise, take the risks,
accumulates all the resources required to
carry out production or perform services and
creates an innovative product or service.
Intrapreneurship
Business that are being manage by
other by the benefits of the owners do
not fall within the sphere of
entrepreneurship. Such business are
operating under this concept.
Small business and Ordinary small business
Small business-refer to a business or enterprise that
correctly adopts and practices the principles of
entrepreneurship.

Ordinary small business-pertain to the business

enterprise manage and operate by an owner who is not
an advocate of and does not practice the concepts and
principles of entrepreneurship.
Relevance of entrepreneurship
CONTRIBUTION OF
ENTREPRENEURSHIP

FILIPINO PEOPLE LOCAL COMMUNITY PHILIPPINE ECONOMY

IMPORTANCE TO FILIPINO PEOPLE
•It provide s guidelines in their wealth-
creating venture.
•It helps improve their financial and social
life.
•It help broaden their creativity.
•It help make their lives happy, fruitful
and successful.
IMPORTANCE TO THE LOCAL COMMUNITY
• It provides employment in the community.
• It create new demand in the market.
• It make substantial contribution to the raising and
collection of taxes.
• It facilitate the movement of the factors of production.
• It create new business opportunities.
• It promotes a peaceful and loving community.
• It increase constructive competition.
IMPORTANCE TO THE PHILIPPINE ECONOMY
• It encourage competitiveness and thereby challenges
entrepreneur to keep improving their product and
services.
• It help find an entrepreneurial niche in the world market.
• It help hasten the economics recovery process of the
Philippines during financial turmoil or crackdown.
• It facilitate the smooth flow of money in the local
market.
• It assist the national government in its desire to have
favorable economics rating in the world market.
Principles of Entrepreneurship
• Be a solution
• Have a vision
• Choose the right team
• Viable product services
• Capital
• Accountability
• Growth and management
• Know your customer
• Priorities
• Never give up “Quitters never win”
Relevance of the course
• The course provides the basics of entrepreneurship, the required
competencies of would-be entrepreneurs and key concepts that are
relevant towards the development of entrepreneurial minds.

• This course would also assist exploration of possible career

opportunities that would expand business initiatives that are
economically feasible

• These course examine the knowledge, skills, and attributes of individuals who
become entrepreneurs or enterprising employees.
Students will learn, through studying the process of venture creation, how to live and
work as creative problem solvers who welcome, and who can successfully manage,
change".
•Any question or clarification about the
lesson?

•If none please Share in the class what

you absorbed in the lesson.
Short quiz
True or false if false state your reason briefly
_____1. An Entrepreneur perceives entrepreneurship as the mere opening and managing of a
business.
___________________________________________________________________.
_______2. knowing the all entrepreneurial concepts will assure a person of becoming a successful
entrepreneur.
___________________________________________________________________.
________3. Entrepreneur originates from the Greek word entreprendre which mean to undertake.
___________________________________________________________________.
_________4. The distinguish mark that differentiate an entrepreneur from an owner of an ordinary
small business is the commitment of the entrepreneur to entrepreneurial concept and principle.
___________________________________________________________________.
______5. Entrepreneurship discourage competition in all forms.
_____________________________________________________________.
_______6. From the perspective of the local community, entrepreneurship helps hasten
the economic recovery of the Philippines.
______________________________________________________________.
________7. The contribution of the entrepreneurship to the Philippine economy flow
back to the individual Filipinos.
______________________________________________________________.
________8. Entrepreneurship develops the creativity of the entrepreneur.
________________________________________________________________.
________9. Entrepreneur is a person who open his own business, assumes
responsibility over its operation and management and assumes the risks of the
business.
________10. Viable product services is not of the principle of entrepreneurship.
_____________________________________________________________________.
Answer key
1. true
2. false-no assurance
3. False-French word
4. True
5. False- encourage
6.True
7. True
8. True
9. True
10. False-part of the principle
assignment
•Tell what kind of business venture you
intend to open and why you have to
chose it?