ENTREPRENEURSHI

P
GRADE 11 BONIFACIO
COURSE
OBJECTIVE

By then end of the course the student is expected to

have some basic knowledge in starting up and
operating a business through theoretical instruction
and practical experience.

2023 ENTREPRENERSHIP 2
 COURSE REQUIREMENTS

• Long tests and midterm examinations. There are only 3 long tests for
the ENTIRE semester (3rd and 4th Quarter) so please make sure you
study hard as there numerous new things to understand in a short
period of time. (DUE Meeting @2-4)
• Reaction papers (at least 2); Business plan chapter submission; Sales
Reports (Weekly)
• Recitation (Weekly through class interaction and online inquiries)
• Completed business plan / Defense (Last week of February)
• Product innovation research paper (1 st week of March)
• Product prototype (2 nd week of March)
• MakerFaire booth presentation (No Final Exams)
2023 ENTREPRENEURSHIP 3
“The entrepreneur
always searches for
change, responds to
it, and exploits it as
an opportunity.” (Peter
Drucker)
COMMON ELEMENTS OF
ENTREPRENEURSHIP
• Innovation
• Opportunity seeking and exploitation
• Resource mobilizing
• Encountering risks and uncertainties
• Economic and personal Rewards

20XX PRESENTATION TITLE 5

ROLE OF ENTREPRENEURSHIP AND
ENTREPRENEURS IN ECONOMIC DEVELOPMENT
AND SOCIETY
1. Creates employment . When entrepreneurs put up their business they employ
people who possess different competencies and personal values to help them
operate the enterprise.
2. Develops new markets. Entrepreneurs are opportunity-seekers, creative and
resourceful. They seek for new buyers or customer of their product or services.
They go beyond the existing places where their products are sold and look for other
people who will be interested.
3. Introduces innovation . Entrepreneurs innovate. Innovations can be something
ordinary or technological or breakthrough. This innovation is done for the product,
service or technology towards commercialization and generates economic wealth.
Due to innovation, other businesses fold, while others will open or flourish. Some
even restructure like merging or buying out firms, to respond to the changes that
are required in order to become sustainable in business.

TITLE 6
4. Generates new sources of materials. Entrepreneurs are always in constant search
for better and cheaper sources of materials they need. Finding new material
providers help in the economic growth of the place. These could be sourced from
because of the value creation.
5. Stimulates investment interest in new business ventures being created . When
entrepreneurs engage in a new business, it stirs curiosity for other people to invest
in the business because of the benefits it offers.
6. Improves the quality of life . The new products and services developed by the
entrepreneur contribute to the increase in the personal benefit and convenience of
people in society. The uss of automatic gadgets in cooking or washing clothes,
mobile phones etc. leads to a better quality of life.
7. Serves as role models . Entrepreneurs are people to be emulatedby younger
generations in the community and society at large. The attitude, behavior and
personality traits like proactiveness, opportunity recognition, risk taking, alertness,
and creativity are some of the characteristics that will also make them successful
entrepreneurs in the future.
8. Brings social benefits to the people . Entrepreneurs pay taxes for every product or
service sold in the market. The income derive are then used for the people
especially the poor to have more access to social services as well as improvement
in infrastructure facilities.

TITLE 7
9. Utilizes and mobilize indigenous resources. SME will always look for cheaper and
local materials to supply their needs. They also make use of idle or unused resources
to meet their needs. This saves much in terms of foreign currency as local enterprises
patronize their own resources and they do not become dependent on imported
materials.
10. Provides more alternatives for consumers. The stiff competition in the market
for quality and cheaper products and services require the entrepreneurs to come up
with more products and services consumers can choose from. Entrepreneurs also
become more concerned about the welfare of their consumers, and ethical in producing
and selling their products or services in order that consumers will prefer them over the
other enterprises selling them.

TITLE 8
CHARACTERISTICS OF AN ENTREPRENEUR
 Calculated risk-taking is doing everything possible to get the odds in their favor,
and they often avoid taking unnecessary risks . Ex. Convincing investors to put up
money, creditors to give discounted interest rates, suppliers offering special term of
payment for the raw materials.
 Commitment is the unwavering dedication to work for the common good of the
society through one’s business. Examples of this include a willingness to use one’s
own savings, sacrificing family time, and working long hours and travelling to
different places to acquire needed resources
 Feedback-seeking is the taking of steps to know how well they are doing and how
they might improve their performance.
 Perseverance is the determination to succeed by overcoming obstacles and setback.
Try to see opportunities even in times of crisis and look for options for the business
to succeed.
 Drive to achieve is the internal desire to pursue and attain challenging goals.
Entrepreneurs examine the situation, plan how to achieve their goal given the
conditions and then push ahead.

TITLE 9
20XX PRESENTATION TITLE 10
 Self-confidence is the belief that together with the tohter people, things can be
done in business.
 Opportunity orientation is the constant awareness of opportunities that exist in
everyday life. Entrepreneurs beging with the opportunities they see and utilize these
opportunities. Ex. Change in consumer preferences to improve an existing
product/service or introduce a new one… importing more needed raw materials etc.
 Innovativeness is the ability to come up with something different or unique every
time. This can be in terms of a new product, service, process, market or technology.
“Thinking out of the box”
 Responsibility is their willingness to put themselves in situations where they are
personally responsible for the success or failure of the business operation. This is
the essence of being accountable for whatever is done by a subordinate.
 Tolerance for failure is using it as a learning experience. The serious setbacks and
disappointments become an integral part of the learning process. Confronting the
source of their problem; not repeating the same mistake in the production of a
product.

TITLE 11
 HOW ENTREPRENEURS
THINK

More intuitive –they collect, process and evaluate information in a more intuitive
manner than manager… this means they are relatively non-conformists, preferring an
open ended approad to problem solving and preferring less structured, more
ambigiuos, and random methods of exploration.
They sense opportunities where others see chaos an confusion.
Then entrepreneurial mindset involves “the ability to rapidly serve, act and
mobilize , even under uncertain conditions. “ (Hisrich, Peters, and Sheperd)
(Pages 23-24 of text reference)
• Actuate Self-Assessment and choose course of action
• Generate Multiple decision models
• Learn from Failure.

20XX PRESENTATION TITLE 12

 ENTREPRENEURIAL
COMPETENCIES
It is ideal that the entrepreneurs display at an advance level thes
competencies to contribute to better firm performance. Their
success rest on the competencies they posess and how they
actualize these in behavior and in their day to day lives. It is
important to bear in mind that these are changeable and
learnable so that the low level competencies can be changed
through proper education and training.

20XX PRESENTATION TITLE 13

 SIX COMPETENCY AREAS
Man and Chan
• Opportunity competencies – rrealated to recognizing and developing market
opportunities through various means
• Relationship competencies –related to person to person or individual to group based
interactions.
• Conceptual competencies – related to difference conceptual abilities, which are reflected
in the behavours of the entrepreneur, e.g. decision skill, information and risk taking, and
innovativeness.
• Organizing competencies – related to the organization of different internal and external
human, physical, financial and technological resources including team building, leading
employees, training and controlling.
• Strategic competencies- related to setting evaluating and implementing the strategies of
the firm
• Commitment competencies –that drive the entrepreneur to move ahead with the business.
• Commitment competencies

20XX PRESENTATION TITLE 14

 CLOSING NOTES

Chapter 3 is self reading… Prepare for a long test next meet an

the 3 chapters
Do not forget to submit your reaction paper to the video I will
send.

20XX PRESENTATION TITLE 15