CHARACTERISTICS OF

ENTREPRENEURSHIP
PRESENTER
ARIEL
CERDENOLA
“enterprendre”

-to undertake
 Entrepreneurship

• the capacity of an individual to

forecast new business prospects in
the form of goods and services
needed by others and to deliver
them to the right people at the right
place and time.
 Entrepreneurship from different scholars
1. A.H. Cole: Purposeful Activity for Profit-oriented
Business
2. Joseph A. Schumpeter:Innovation and Creative
Functions
3. Peter F. Drucker:Entrepreneurship as a Practice
4. Higgins:Functions and Decision-making
5. Robert K. Lamb:Social Decision-making for Economic
Innovation
 Entrepreneurship from different scholars
6. V. R. Gaikwad:Innovativeness and Risk-taking
7. Musscleman and Jackson:Investment and Success
8. McClelland:Doing Things in New and Better Ways
9.Higgins:Decision-making at Different Stages
10. Joseph A. Schumpeter:Creative Activity and
Innovation Functions
This is pinpointing to
those who “undertake”
the risk of enterprise.

The enterprise is created by an

entrepreneur and the process is
called “Entrepreneurship.”
Entrepreneurs are innovators. They are willing
to take the risks and generate unique ideas that
can provide profitable solutions to the needs of
the market and the society.
 1.Adaptability
Adaptability, as a fundamental entrepreneurial skill,
encompasses the capacity to respond to emerging
challenges swiftly, pivot business strategies, and capitalise
on new opportunities.
 2.Confidence
• Self-confidence is the
cornerstone of entrepreneurial
success. By cultivating a
positive mindset and taking
persistent action,
entrepreneurs can unleash their
full potential. With unwavering
self-belief, they can overcome
challenges, inspire others, and
navigate the ever-changing
landscape of entrepreneurship
 3.Motivation

Motivation in entrepreneurship is the drive

or desire that keeps someone going towards
a goal. It can come from both inside and
outside.
 4.Vision

An entrepreneur's vision is the start of a roadmap

that will determine where he or she wants to go
with their entrepreneurial efforts. Vision speaks to
what the entrepreneur wants the business to look
like in the future—perhaps five or ten years out.
 5.Discipline

Discipline in entrepreneurship involves a strong commitment

to your business goals and a willingness to persevere through
challenges and setbacks. It means staying dedicated to your
vision, even when faced with obstacles, and not giving up
easily.
 6.Innovation

• Innovation is the practical

implementation of ideas that
result in the introduction of
new goods or services or
improvement in offering goods
or services
7.Curiosity
Curiosity is essential for success in
today's business landscape, driving
problem-solving, exploration of
alternative solutions, and influencing
decision-making. Cultivating a curious
mindset is crucial for developing an
entrepreneurial mindset, promoting
collaboration, and sparking innovation
and exploration
 8. Money management

Money management is the

process of handling your
business’s finances
through budgeting, setting
goals, tracking expenses
and income, and investing.
 9.Ability to sell

Selling is a skill that can be

acquired and honed.
Entrepreneurs and startup
founders can educate
themselves and their
teams to become better
salespeople
10. Attention to detail
For entrepreneurs and
business owners, a keen eye
for these details can spell the
difference between success
and failure. Attention to detail
is not just a desirable trait; it's
a critical skill that can have far-
reaching consequences on
various aspects of a business
 11.Comfort with failure
The first step to overcoming fear of
failure is to acknowledge it and accept
it as a natural and normal part of
entrepreneurship. Don't deny, ignore,
or suppress your fear, as that can make
it worse. Instead, recognize it as a sign
that you care about your goals and
that you are facing uncertainty and
challenges.
 12.Goal mindset
That's where all great companies
start.” Research has also shown that
entrepreneurs who set clear and
measurable goals are more likely to
be successful than those without
them. Without specific goals,
entrepreneurs can find themselves
wandering instead of having a clear
path to their desired outcome.
 13.Social skills
communication and listening are essential
entrepreneurship skills that can make a
difference in how you run your business as they
help you to build trust.
14.Knowledge
Knowledge
entrepreneurship, in
essence, involves
exploiting, leveraging,
and transforming
knowledge into
valuable products,
services, or ventures.
 15.Leadership
Knowledge entrepreneurship, in essence,
involves exploiting, leveraging, and
transforming knowledge into valuable
products, services, or ventures.
16. Optimism
Optimism, a beacon that ignites
the spirits of entrepreneurs,
emerges as a paramount force
driving innovation, resilience, and
success. Entrepreneurs, who dare
to challenge norms and forge
uncharted paths, are inherently
blessed with an eternal optimism
that fuels their journey.
 17.Passion
Optimism, a beacon that ignites
the spirits of entrepreneurs,
emerges as a paramount force
driving innovation, resilience, and
success. Entrepreneurs, who dare
to challenge norms and forge
uncharted paths, are inherently
blessed with an eternal optimism
that fuels their journey.
 18. Ability to network

Successful entrepreneurship relies on building strong

relationships. Networking allows you to connect with
individuals who share your passion, vision, and
entrepreneurial mindset. These connections can lead
to collaborations, joint ventures, and valuable
partnerships.
 19. Risk tolerance
Risk tolerance is a fundamental concept that pertains to an
entrepreneur's disposition and capacity to accept and manage
risks associated with starting and running a business venture. It
embodies the willingness to undertake uncertainty and
potential loss while pursuing entrepreneurial goals and
opportunities.
 20. Risk management
Risk management helps you to
identify and address the risks facing
your business and in doing so
increase the likelihood of
successfully achieving your
businesses objectives. A risk
management process involves:
methodically identifying the risks
surrounding your business activities.
 21. Ability to make decisions
Entrepreneurship involves decision-making at
every stage of the business. When you are sure
about long-term objectives, you can make the
right decisions in day-to-day business activities.
Learning from every small decision made in order
to achieve the desired output is key to improving
decision-making skills.
 CHARACTERISTICS
OF
ENTREPRENEURS
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MARY JOY P. TELAN
MAIE-THE 1
 CHOOSING THE BEST SOLUTION

• The problem has to be identified and defined

• Gather the data relevant to the problem
• Organize and analyze the data to be able to
come up with alternative solutions
• Determine the best solution
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 CHOOSING THE BEST SOLUTION

• Peter Drucker, a renowned economist

and management consultant, mentions
four criteria of choosing the best
solution:
1. Presence of risk
2. Economy of effort
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3. Time factor
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4. Availability of resources
 CHOOSING THE BEST SOLUTION

Drucker emphasizes that an ideal solution is

one that does not create additional problems and
is economical in terms of time, labor, and money.
However, the final determinant of the best solution
is the availability of resources. In other words,
even the best solution is not viable if the necessary
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resources to implement it are not available.

 IMPLEMENTING
DECISION
Entrepreneurs are generally careful. They
implement their decisions on a trial basis or
limited scale. This is to test the feasibility or
profitability of their decisions. If they happen to
be right in their decisions, they implement their
business project in full-scale. The idea is that they
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were wrong in their decisions, their losses have

been minimized.
 IMPLEMENTING
DECISION

However, the problems of implementing a

decision can be eliminated or minimized if the
decision has been the product of group action.
As a democratic processes, the beneficiaries, the
affected ones and those concerned in the
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implementation should be involved in the

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decision-making process.
 IMPLEMENTING
DECISION
In community development, the implementers and
beneficiaries of the project must be involved from
planning to the implementation of the project.
A former President of a poor country said
“Planning from the top is planning for the top”.
Obviously, such kind of planning is not only
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undemocratic, but also ignores the rights and

capabilities of people.
DETRERMINANTS OF
SUCCESSFUL
ENTREPRENEURSHIP
RONRIC M. MATAVERDE
MAIE-THE
 THE
ENTREPRENEUR
MUST POSSESS
THE FOLLOWING
MANAGERIAL
SKILLS
 ABILITY TO CONCEPTUALIZE
AND PLAN
The entrepreneur must view all the
aspects for business, such as product,
price, cost, inventory, etc., in a
related and coordinated manner. He
must be able to plan for the total
operation of the business. His ability
to foresee future problems of his
business is an excellent asset.
 ABILITY TO MANAGE OTHERS
Management is getting things done by
others. As the business grow, more people
are needed. The entrepreneur must be able
to organize work properly so that his
employees can perform their jobs efficiently
and effectively. Good human relations and
communications are very important for the
entrepreneur. By letting others achieve the
objectives of the enterprise, the
entrepreneur has more time for
conceptualizing and planning.
 ABILITY TO MANAGE TIME AND
LEARN
The entrepreneur is a generalist. Especially
when the business is still small, the owner
does everything: clerk, salesman and manager.
In view of the various functions of the
entrepreneur, he should be an expert on time
management. He should also acquire basic
training in small business management and
specialized courses in accounting, finance,
marketing and personnel relations. A real
entrepreneur does not actually stop learning.
He can do this by reading, attending seminars
or enrolling in college.
 ABILITY TO ADAPT TO CHANGE
Not a few individuals resist change. They
stick to traditional or established
practices. This is the culture of many
Filipinos, particularly the unschooled. A
businessman who refuses to adapt his
operations to changing need and tastes of
consumers is most likely to fail.
Entrepreneurs, being innovative or
creative, quickly respond to changes for
comparative advantage.
CONCEPT OF THE
FILIPINO
ENTREPRENEUR
RONRIC M. MATAVERDE
MAIE-THE
THE DEVELOPMENT
BANK OF THE
PHILIPPINES
DEFINES THE
QUALITIES OF AN
ENTREPRENEUR:
 SELF-RELIANT
An entrepreneur counts
mainly on his own efforts,
and succeeds mainly by
doing a good job. He relies
principally on his own merit
and work. His self-reliance
is founded on hard work.
 RISK-TAKER
He rises to a challenge and transfers
problems into opportunities. His
daring is built on his competence
which is marked by openness to new
ideas, new skills and new
developments. Despite his setbacks
and mistakes, he is willing to start
all over again.
 INDUSTRIOUS
He has a strong sense of pride in
the workmanship of his product.
He is a quality conscious in all
the components of his business.
He is also precise in counting
costs and in ensuring the value of
money for his product or service.
 HUMBLE
The true entrepreneur has
the humility and single-
mindedness of purpose.
Where there is a chance to
earn, no matter how lowly
the task, he is at work
patiently, unmindful of his
social status.
 HELPFUL
He learns how to work with
others from different fields,
conscious that with their help,
effectiveness can be multiplied.
He thinks of others, especially
those working for him, and of the
opportunities for advancement
he can provide for them.
 CREATIVE
He has a sense of
perseverance and an
initiative. Never satisfied
with things as they are, he
continues to improve,
trying new and better ways
of doing things.
 HAPPY
The joy of this
entrepreneur lies in the
satisfaction of a
customer, whom he
puts first over
everybody else.
THE END

THANK