Introduction to

Entrepreneurship
Objectives
• Discuss the types of Entrepreneurs
• Explore job opportunities for Entrepreneurship as a career
 REVIEW
What is your idea about Entrepreneurship?
GOLDEN QUESTION
Have you ever dreamed of becoming the next multi-millionaire?
“it is not chances that give you millions,
instead being a millionaire is a result of
hard work and determination.”
Starting your own business is a good
start towards fulfilling your dreams.
Entrepreneurship is the way!
Starting your own business is a good
start towards fulfilling your dreams.
Entrepreneurship is the way!
Entrepreneurship
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.

Simply put, entrepreneurship is the willingness to start a new business.

Entrepreneurship has played a vital role in the economic development of the
expanding global marketplace.
Entrepreneurs vs. Business-owners
Entrepreneurs are the founders and creators of new products or services,
while small business owners start a type of business that already exists
within the marketplace.
Entrepreneur
An entrepreneur is someone who is willing to work for himself and by
himself.

Entrepreneurs are innovators, willing to take calculated risks and generate

new ideas to make it unique and profitable solutions to the present-day
problems.
Entrepreneurship and Ordinary Small
Business Activity
Entrepreneurship is different from the activities of ordinary small businesses.
This does not mean however that entrepreneurship does not connote small
business. It does because entrepreneurship covers small and medium-scale
businesses.
Entrepreneurship and Ordinary Small
Business Activity differ in:
1. Motive in opening a business
2. Perception of risk in the business
3. Reactions to changes in the environment
4. View on competition
5. Vision for development and growth
6. Horizon of business operation
7. Sources of business funds
Motive in opening a business
An Entrepreneur starts a business venture based on entrepreneurial concepts
and principles and the aspiration to become successful. The business
environment is marked by creativity and innovation.

An owner of a small business opens a business with the primary goal of

making it his/her source of livelihood. The business becomes major provider
of the family for financial requirements.
Perception of risk in the business
An Entrepreneur takes and faces the business risk squarely. He/She considers
it inherent in the business venture, prepares the business for it, and finds way
to minimize its effects.

The owner of small business believes that the business risk is a deterrent to
the operation of the business and must be avoided.
Reaction to changes in the enviroment
An Entrepreneur reacts positively to the changes in the environment.
Changes in the business environment bring new ideas for entrepreneurial
opportunities.

The owner of a small business remains passive and static to changes in the
environment where his/her business operates.
View on competition
For the entrepreneur, the presence of competition is a sign of a healthy
economic environment. Competition will undoubtedly force entrepreneurs to
continuously improve their products/services.

The owner of a small business views competition as an unhealthy element in

the business environment and tries to avoid it.
Vision for development and growth
The entrepreneur usually outlines the course of his/her entrepreneurial
venture in terms of short-term, medium-term, and long-term plans of action.
He/She aligns the daily business activities toward the attainment of the
plans.

The owner of a small business relies upon chance or luck in maintaining the
status quo of his/her business.
Horizon of Business Operation
The entrepreneur thinks globally but acts locally. His/Her sight is always
focused on the stars above, while his/her feet are firmly anchored on the
ground.

The owner of a small business is centered only on the local environment.

He/She does not intend to participate in the global environment.
Sources of business funds
The entrepreneur finds that the proposed business endeavor is a wealth-
creating venture, he/she explore ways to generate the much-needed funds
from both internal and external sources.

The owner of a small business tends to limit the funding of his/her business
enterprise to personal sources.
Importance of Entrepreneurship
The significance of entrepreneurship in our lives cannot be undermined.
Your daily experiences with small businesses and the benefits that you
derive from them are clear testimonies to the important role of
entrepreneurship in our lives.
Importance to Filipino People
1. It provides guideline in their wealth-creating ventures
2. It helps improve their financial and social life
3. It helps broaden their creativity
4. It helps make their lives happy, fruitful and successful
Importance to the Local Community
1. It provides employment in the community
2. It creates new demand in the market
3. It makes substantial contribution to the raising and collection of taxes
4. It facilitates the movement of the factors of production
5. It creates new business opportunities
6. It promotes a peaceful and loving community
7. It increases constructive competition
Importance to the Philippine Economy
1. It encourages competitiveness and thereby challenges entrepreneurs to
keep improving their products and services
2. It helps find an entrepreneurial niche in the world market
3. It helps hasten the economic recovery process of the Philippines during
financial turmoil or crackdown
4. It facilitates the smooth flow of money in the local market
5. It assists the national government in its desire to have favorable
economic ratings in the world market
Types of Entrepreneurs
1. Innovative entrepreneur
they are those who always make new things by thinking of new ideas.
2. Imitating entrepreneurs
they are those who don’t create new things but only follow the ideas of other
entrepreneurs.
3. Fabian entrepreneurs
they are those skeptical. They don’t initiate but follow only after they are
satisfied.
 4. Drone entrepreneurs
These are entrepreneurs who do not like a change. They are considered as 'old
school'. They want to do business in their own traditional or orthodox methods
of production and systems. Such people attach pride and tradition to even
outdated methods of doing business.
 5. Social entrepreneurs
they are those who initiate changes in the various fields such as education,
health, human rights, environment and enterprise development.
GET ½ SHEET OF PAPER AND
ANSWER THESE QUESTIONS
SILENTLY
1. What small business would you like to engage in?
2. When your neighbor opens a small business and it attracts good
customers, are you also going to open your own small business?
Why or why not?
3. Differentiate an entrepreneur from an owner of a small business