ENTREPRENEURSHIP

NATIONAL SERVICE TRANNING PROGRAM 1 GROUP

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Networking

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Risk

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Business

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Entrepreneurship refers
to the activity of starting
and managing a
business venture. It
involves identifying
opportunities, organizing
resources, taking risks,
and creating value What is …….
through innovative ideas
or business models. Entrepreneurship?

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Here are some
key points to…
summarize entrepreneurship

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1. Opportunity recognition
Entrepreneurs possess a
keen ability to identify
potential business
opportunities in the market.
They identify unmet needs,
gaps in the market, or
emerging trends that can be
turned into profitable
ventures.
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2. Innovation and creativity
Entrepreneurs often bring new
ideas, products, or services to
the market. They embrace
innovation and find creative
solutions to meet customer
demands, improve existing
products or processes, or
disrupt established industries.

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3. Risk-taking

Entrepreneurship involves taking

calculated risks. Entrepreneurs
understand that there is
uncertainty and potential failure
associated with starting and
running a business. They are
willing to take calculated risks,
learn from failures, and adapt their
strategies.

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4. Resource management
Successful entrepreneurs
effectively manage resources
such as capital, human
resources, and technology.
They leverage these resources
to create and deliver value for
customers, optimize operations,
and achieve long-term
sustainability.

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5. Networking and collaboration
Building relationships and
networking is crucial for
entrepreneurs. They actively seek
partnerships, collaborations, and
mentorship to gain support, access
resources, and expand their
business networks. Collaboration
with others can lead to a diverse
range of perspectives and
opportunities.
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 6. Persistence and resilience
Entrepreneurs face
numerous challenges,
setbacks, and uncertainties.
However, their persistence
and resilience allow them to
overcome obstacles, learn
from failures, adapt their
strategies, and continue
pursuing their goals.
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 7. Growth and scalability
A key objective of
entrepreneurship is to grow and
scale the business over time.
Entrepreneurs develop
strategies to expand their
market presence, increase
profitability, and capture new
opportunities through organic
growth, acquisitions, or
diversification.
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 8. Economic and social impact

Entrepreneurship plays a vital role in

driving economic growth and job
creation. It fosters innovation,
productivity, and competition, leading
to economic development and
improved living standards. Moreover,
successful entrepreneurs can make
a positive social impact by
addressing societal challenges or
creating socially-driven enterprises.

This Photo by Unknown Author is licensed under CC BY-SA-NC

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 QUESTIONS
1. What are some examples of successful entrepreneurial ventures that have made significant
economic and social contributions to their communities or industries?"

2. Why is risk-taking important in entrepreneurship?

3. How can networking benefit entrepreneurs in their business ventures?

4. How can entrepreneurs effectively manage their resources to maximize their chances of
success in a competitive market?

5. How can entrepreneurs effectively manage their resources to maximize their chances of
success in a competitive market?
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 SUMMARY
entrepreneurship is the
process of identifying
opportunities, taking risks, and
creating value through
innovative ideas and sound
business practices. It requires a
combination of vision, creativity,
resourcefulness, persistence,
and adaptability.

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