Lesson

1:
Overvie
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ENTREPRENEURS
HIP
• is a process of creating incremental
wealth through the efforts of individual
who find new and useful ways to employ
resources that lead to the creation of
new products, services, or technologies.

• Considering this definition, we take note

of the following keywords:
 process

indi t i n g
vidu c rea
a ls Entrepreneurs
hip

wealth new
ENTREPRENEURS
HIP
• is indeed a process, as it is an activity that
involves the conception of a new idea,
which is transformed into a new product
or service for purposes of wealth
creation, among many other reasons.
• also involves individuals who actually
perform the process, these individuals
are what we call “entrepreneurs”.
ENTREPRENEUR
• is derived from the French words entre,
to enter, and prendre, to take.
• an entrepreneur is someone who starts
a new business, recognizes
opportunities, organizes resources to
take advantage of the opportunity,
creates something new that will provide
value to customers, and willingly
accepts the financial risks associated
with the new business venture.
Benefits of Entrepreneurship to the
society:
2. Entrepreneurship
1. Entrepreneurship 3. Entrepreneurship
encourages
helps the economy aids in human
technological
grow. development.
growth.

4. Entrepreneurship 5. Entrepreneurship
promotes inclusive begets
growth. entrepreneurship
 Difference between entrepreneurs and
employees
Entreprene Employees
urs
 work for the boss
 create jobs
 value wealth over job security  take on jobs
 are not dependent on a monthly paycheck  value job over wealth
 are highly dependent on a monthly paycheck
 are willing to work long hours
 build their own assets both are  work regular hours
 work to build someone else’s asset
 have a high tolerance for risk productive
 do not like to take risks
 pay taxes only on net income members  pay taxes on total income
 adapt quickly to change of the  often resist change
 attain wealth and financial security at a young age society  Will have to follow strict saving and investment
plan to reach financial security by retirement
 decide who to hire and who they work with  have little say over who they work with and the
direction of the company they work for
 make money even when they are asleep
 make money only when they are working
 have the freedom to control the direction of their
company
The good and bad in
entrepreneurship
1. The Rewards
A. Make Money
B. Be your own boss
C. Gain self-satisfaction

2. The risks
D. Failure
E. Long hours of hard work
F. Unwanted responsibilities