Lesson 1: Importance of Entrepreneurship

1. Lesson 1: Importance of
Entrepreneurship
MODULE 1
INTRODUCTION OF ENTREPRENEURSHIP

2. OBJECTIVES
At the end of this module, you are expected
to:
a. understand the relevance of the course;
b. identify the basic concepts and
characteristics of entrepreneurship; and
c. explore job opportunities for
entrepreneurship.

3. ENTREPRENEURSHIP
Entrepreneurial activities today have
become very important and are keys to
economic development.
Growth ,industrial development ,
including employment generation,
depend upon entrepreneurial behaviour
of a country.

4. Why do we need to study
entrepreneurship?
How entrepreneurship does
affect us?

5. Directions: Using the graphic organizer below, give the
importance of studying Entrepreneurship.
IMPORTANCE OF
ENTREPRENEURSHIP

6. Entrepreneurship teach us to..
• creates opportunity
• ensures social justice
• instills confidence
• stimulates the economy
• take risks
• fail and to persevere
• become creative, inventive and
innovative

7. Entrepreneurship is a key driver of our economy.
-The 1987 Philippine Constitution recognizes entrepreneurship as
an engine of economic growth.
-Article XII Section 1 highlights the role of private enterprises in
supporting equitable distribution of income and wealth, sustaining
production of goods and services and expanding productivity,
therefore raising the quality of life.

8. Entrepreneurship is more than just an economic term — it is
a way of thinking.
-People exposed to entrepreneurship frequently express that they
have more opportunity to exercise creative freedoms, higher self-
esteem, and an overall greater sense of control over their own
lives.
-Entrepreneurship is a way of inspiring creative individuals to
pursue opportunities despite its risks.

9. both are
productive
member
of society
ENTREPRENEUR EMPLOYEES
• are the boss
• create jobs
• value wealth over job security
• are not dependent on a
monthly pay check
• are willing to work long hours
• build their own assests
• have a higher tolerance for risk
• pay taxes only on net income
• work for the boss
• value job security over
wealth
• highly dependent on a
monthly pay check
• work regular hours
• work to build some’s else
assets
• do not like to tak risks
• pay taxes on total income

10. both are
productive
member of
society
ENTREPRENEUR EMPLOYEES
• adapt quikly to change
• attain wealth and financial
security at a young age
• decide who to hire and who
they work with
• Make money even when they
are asleep
• have the freedom to control
the direction of their
company
• often resist change
• will have to follow strict saving
and investment plan to reach
financial security by
retirement
• have little say over who they
work with and the direction of
the company they work for
• make money only when they
are working

11. What Makes Someone an Entrepreneur?

12. Personal Attributes
•Creativity is the spark that drives the
development of new products or
services or ways to do business. It is the
push for innovation and improvement.
•Dedication is what motivates the
entrepreneur to work hard. Planning of
an ideas must be joined by hard work to
succeed.

13. Personal Attributes
•Determination is the extremely strong
desire to achieve success. It includes
persistence and the ability to bounce back
after rough times.
•Flexibility is the ability to move quickly
in response to changing market needs. It
is being true to a dream while also being
mindful of market realities.
•Leadership is the ability to create rules
and to set goals.

14. Personal Attributes
•Passion is what gets
entrepreneurs started and keeps
them there.
•Self-confidence comes from
thorough planning, which reduces
uncertainty and the level of risk.
•“Smarts” consists of common
sense joined with knowledge or
experience in a related business
or endeavor.

15. Why should becoming an
entrepreneur be any
different?

17. Required Education
-educational requirements for entrepreneurs
are nonspecific
-all entrepreneurs need capital, so the ability to
write an effective business plan is vital
Required Skills
-tolerance for risk taking and a willingness to
leave the security of a conventional and tedious
job
-the ability to multitask is a key
Career Outlook
-earnings for entrepreneurs vary drastically, and
income is often unstable, especially in the early
days of a new business

18. Career Opportunities in Entrepreneurship
Business consultant
Business consultants provide advice about
business issues, such as the development and
implementation of business plans, how to streamline
operations or how to expand into a new market.
Management analysts
The person who evaluates a business' systems,
procedures and operations, they may also
review a business' financial matters, such as
the ratio of income to expenditures.

19. Career Opportunities in Entrepreneurship
Sales
Someone who works in sales or runs the
department needs to know how businesses
run. They need to know how to represent a
company, manage accounts, and follow up on
leads.
Research and development
To work in R&D, you need to understand
business concepts, procedures, and practices.
With all of the training and education someone
has received learning about entrepreneurship,
they are well prepared for this type of position.

20. Career Opportunities in Entrepreneurship
Not-for-profit fundraiser
Being able to raise funds requires understanding
the importance of business and networking
relationships. It is a great place for someone with
this type of degree because you will have
experience in studying advanced concepts that
can be used to your advantage on the job.
Intrapreneur
An intrapreneur is an inside entrepreneur, or
an entrepreneur within a large firm, who uses
entrepreneurial skills without incurring the risks
associated with those activities.

21. Two Sides of Entrepreneurship
1. Ther reward.
A. Make Money
B. Be your own boss.
C. Gain self-
satisfaction
2.The Risks
A. Failure
B. Long Hours of Hard
work
C. Unwanted
responsibilities