Entrep Q1 Week 1 2
Entrep Q1 Week 1 2
Entrep Q1 Week 1 2
ENTREPRENEURSHIP
ENTREPRENEURSHIP
C H R I S T I A N M . A G B AYA N I & J A N I B I E A .
PA S C U A
SUBJECT TEACHERS
WHAT IS ENTREPRENEUR?
Entrepreneurship – is a proactive process of developing a business venture to
make a profit. It involves seeking opportunities for a market, establishing and
operating a business out of the opportunity, and assessing its risks and
rewards through close monitoring of the operations.
Being an entrepreneur may seem difficult, but it can be rewarding if the
enterprise flourishes.
Creating a sound business plan, along with efficient and effective operation
of the business, will not only benefit the entrepreneur but also the entire
society and the economy.
An entrepreneur is successful if the business that he or she envisioned has
materialized into a thriving industry with regular customers and financial
gain.
HERE ARE THE SOCIETAL AND ECONOMIC BENEFITS
OF ENTREPRENEURSHIP:
1. Entrepreneurship produces more jobs that equate to an increase in
national income.
2. Entrepreneurship amplifies economic activities of different sectors of
society.
3. Entrepreneurship introduces new and innovative products and services.
4. Entrepreneurship improves people’s living standard.
5. Entrepreneurship disperses the economic power and creates equality.
6. Entrepreneurship controls the local wealth and balances regional
development.
7. Entrepreneurship reduces social conflicts and political unrest
8. Entrepreneurship elicits economic independence and capital formation.
WHO IS AN ENTREPRENEUR?
The word “entrepreneur” has a French origin and
was coined from the words entre, which means
“between”, and prender, which means “to take”
An entrepreneur is a unique individual who has
the innate ability and extraordinary dedication to
establish and manage a business, acknowledging
all the risks and reaping its rewards.
An entrepreneur will only expect
returns once he or she already added or
created value out of an opportunity. An
entrepreneur’s natural talent is being
perceptive for opportunities in his or her
surroundings that normal people don’t
give importance to or often neglect.
FIVE LEVELS OF ENTREPRENEURIAL DEVELOPMENT.
1.The self – employed. The self – employed
persons are, simply put, not comfortable
with the routines of a desk job. They do not
want to conform to a fixed working
schedule. They want to do things in their
own way and start to feel agitated when
controlled by the powers – that – be.
2. The manager. In this level,
entrepreneurs feel the need to set
up and ask some help from the
people around them. They delegate
and hire potential employees to do
the work.
3. The leader. Entrepreneurs in
this level already enjoy seeing
their people flourish, stepping up
and producing great results with
minimal supervision.
4. The investor. Investors look from
more opportunities for their business
to grow. They may either purchase
one or two businesses that can
potentially add value to the company
or sell their established business (as a
franchise) to potential entrepreneurs.
5. The true entrepreneur. True
entrepreneurs, based on their experience,
now aim for quality and excellence in
their work. They have fully learned, and
continue to practice, a four – step process
of thinking – starting with idealization,
visualization, verbalization, and
materialization.
In idealization, entrepreneurs dream enormously
and desire to make the dream a reality. In
visualization, entrepreneurs start to create plans to
make the dream a reality. Verbalization involves
sharing their ideas with other people, knowing that
their vision is already occurring. Materialization
happens when the vision becomes a reality. In this
stage, true entrepreneurs now have an income that
keeps on multiplying even if they do not put much
effort.
NEW TERMS COINED TO SUIT AN ENTREPRENEUR’S
FIELD OR EXPERTISE.
1.A technopreneur is an entrepreneur who puts
technology at the core of his or her business
model.
2.A social entrepreneur is one who recognizes
the country’s social problems and turns them
to profitable institutions with the intention of
helping the disadvantaged community rather
than making a profit.
3. An intrapreneur is an entrepreneur in a large
company or corporation who is tasked to think,
establish, and run a new big idea or project.
Intrapreneurs are usually the product managers or
the business development managers of a company.
4. An extrapreneur is an entrepreneur who hops
from one company to another to act as the
innovation champion, providing creative and
efficient solutions.
COMMON AND CORE COMPETENCIES IN
ENTREPRENEURSHIP
Entrepreneurship is a career that requires a plethora of
common and core competencies. Therefore, to be
considered a successful entrepreneur, he or she must
possess common entrepreneurial competencies that are
needed all throughout the entrepreneurship career. At
the same time, he or she should also possess core
competencies that are needed for business
sustainability and management.
HERE ARE THE COMMON TRAITS THAT ENTREPRENEURS SHOULD
ALWAYS HAVE
4. Leisure time and Has a flexible schedule and can take Has a limited number of vacation days
vacations unlimited number of vacation days imposed by the employer
(applicable only if the business has
stabilized already)
5. Taxation Taxed on the net income; can claim Taxed on the gross income; cannot use
taxable income deductions for allowable expenses incurred related to the job
expenses incurred by the business such as food and transportation
expenses to claim for deductions from
taxable income
6. Comfort level at Is comfortable in doing multiple and May be comfortable with routines and
work challenging tasks and takes minimal risks; may also be comfortable
accountability with the risks and profits in working for the company itself
of the business; does not want to be
confined in a box; thinks outside the box
or sometimes thinks there is no box
CAREERS IN ENTREPRENEURSHIP
8. Online selling business. 18. Car wash and car care business.
10. Laundry and dry cleaning business. 20. Water station and LPG (liquefied
petroleum gas) station.
11. Hair styling and makeup business.
No successful business started huge right away. A
business starts with an idea. Once the business is
established, the business owner, the entrepreneur, can
choose to expand and explore franchising,
intrapreneurship (managing a start – up business in an
established business), and acquisition (buying another
similar business or a new business). Franchising is a
business arrangement wherein the franchisor, who is
the owner of the business, acquires distribution centers
through the franchisee or the affiliated dealers.
Franchise or Start – up Businesses
Bakeries, bakeshops, and bread Food and snacks carts
products Gas stations/petroleum products
Bars, cafes, and coffee shops General merchandise and retail
Beverage and confectionery Health and wellness (salon,
Car care massage, spa, and gym)
Clothing and accessories Schools
Convenience stores Services (personal and business)
Drug stores and pharmacies Water station
Fast food establishments and
restaurants