This document provides an introduction to entrepreneurship and the entrepreneurial mindset. It defines entrepreneurship and describes the entrepreneurial process. It identifies different types of entrepreneurs and discusses the typical characteristics of Filipino entrepreneurs. It explains the factors that influence individuals to pursue entrepreneurial outcomes and how entrepreneurs think and make decisions. It also discusses the role of risk and failure in the entrepreneurial process.

1. PATHWAYS TO
ENTREPRENEURSHIP
Teacher Ange

2. Introduction
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Entrepreneurship is a process of initiating
a business or expanding an existing
enterprise for providing goods or
services to the market and in realizing
profit for the firm.
Through entrepreneurship, new products,
new processes, new markets, and new
organizations are introduced.

3. Part I - Foundations of
Entrepreneurship
Chapter 1
Entrepreneurial Mindset
Presentation title 3

4. Learning
Objectives
• Define the concept of entrepreneurship
• Identify the different types of entrepreneurs
• Describe the entrepreneurial process
• Describe the typical characteristics of Filipino entrepreneurs
• Explain the factors that influence individuals to pursue
entrepreneurial outcomes
• Explain how entrepreneurs think and how they make decision
• Explain the role of risk and failure in the entrepreneurial process
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5. "Passion, creativity, and resilience are the
most crucial skills in business. If you’ve
got those, you’re ready to embark on the
journey."
-Jo Malone, Founder of Jo Malone
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6. Guess the Logo
Apple
Steve Jobs Bill Gates
Facebook
Mark Zuckerburg
Uber
Travis Kalanick
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Microsoft

7. Guess the Logo
Tesla
Elon Musk
Lucio Tan
SM "ShoeMart"
Henry Sy
Mang Inasal
Edgar Sia II
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Philippine
Airlines

8. Guess the Logo
National Book
Store
Socorro Ramos
Alfredo Yao
Oishi
Carlos Chan
Jollibee
Tony Tan Caktiong
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Zest-O

9. WHAT IS AN ENTREPRENEUR?
Entrepreneur
• Comes from the French
word “entreprendre”
which means “to
undertake”.
JOSEPH SCHUMPETER
• The Theory of Economic
Development
• Entrepreneurs are
individuals who have
generated substantial value
and profits from innovations
in a very short period of
time.
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10. TYPES OF ENTREPRENEURS
Mega Entrepreneurs
• These individuals are also
willing to absorb huge risks
using enormous amounts of
capital in their business
venture.
Micro Entrepreneurs
• They engage in micro and
small businesses as an
alternative to formal
employment.
• They are short in funds and
inadequate in skills
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11. ENTREPRENEURIAL PROCESS
Peter Drucker
• Innovation and
Entrepreneurship (1985)
• Emphasized the “discipline”
in the process of starting
and managing a business.
Question
• Would you rather be an
entrepreneur or a manager
in a big corporation?
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12. ENTREPRENEURIAL PROCESS
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•“entrepreneurial discipline”
•Which involves several stages from the
awareness of an opportunity to the realization
of a business idea.

13. STAGES OF ENTREPRENEURIAL PROCESS
Discovery
Refers to the
recognition of a
business idea or
the detection of
opportunities
that could make
money for the
entrepreneur.
Development
of Concept
Gives more
details on how
the general
business idea
can be realized.
It suggest the
PREPARATION
of a BUSINESS
PLAN.
Organizing
Resources
Describes the
process of
identifying,
sourcing, and
financing
human,
nonhuman, and
other resources
needed for the
conduct of
business.
Implementatio
n
Is the process
of carrying out
the business
plan.
Reaping The
Returns
Pertains to
strategies
related to the
expansion of the
business firm
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14. CHARACTERISTICS OF AN
ENTREPRENEUR
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•Entrepreneurial Traits and Creation of Value-
added
•Entrepreneurial Traits and Entrepreneurial
Intentions
Two Criteria

15. ENTREPRENEURIAL TRAITS AND CREATION OF VALUE-
ADDED
Level of
Education
Studies have shown
that entrepreneurs
need some formal
education to be able
to seize the
opportunities
presented by
inventions,
innovations, and other
technological
development.
Employment
Status
Individuals who
become
entrepreneurs in
developed countries
are usually former
employees of
companies in the
formal sector.
Entrepreneur's
Wealth
Wealth of the
entrepreneur is also
an important factor.
Risk Appetite
Risks are associated
with uncertainties in
business operation.
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16. ENTREPRENEURIAL TRAITS AND
ENTREPRENEURIAL INTENTIONS
Entrepreneurial
Intentions
• Planned actions formulated
in the mind of individuals
w/c are geared toward the
objective of establishing a
business venture from
potential business
opportunities.
Question
• “ HOW ARE THESE
INTENTIONS
FORMULATED?”
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17. FACTORS THAT INFLUENCE ENTREPRENEURIAL
INTENTIONS
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•INTERNAL FACTORS
•EXTERNAL FACTORS

18. FACTORS THAT INFLUENCE ENTREPRENEURIAL
INTENTIONS
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•INTERNAL FACTORS
- Include mainly the qualities of individuals such
as demographics, personal traits, psychological
characteristics, individual skills, prior
knowledge and social ties.

19. FACTORS THAT INFLUENCE ENTREPRENEURIAL
INTENTIONS (INTERNAL FACTORS)
Demographic
• Refer to gender,
marital status,
age, and
employment
status of
individuals.
Personal Traits
• Self-confidence,
determination, and
enthusiasm, and
other positive
human qualities.
Psychological
Traits
• Need for
achievement, risk
appetite,
acceptance for
vagueness, self-
efficacy, and goal
setting.
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20. FACTORS THAT INFLUENCE ENTREPRENEURIAL
INTENTIONS
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•EXTERNAL FACTORS
1. Environmental Support
2. Environmental Influence

21. FACTORS THAT INFLUENCE ENTREPRENEURIAL
INTENTIONS (EXTERNAL FACTORS)
Environmental Support
• Many studies have affirmed
the positive effects of
government, financial
institutions and training
institutions in setting up
businesses.
Environmental Influence
• Regulatory Structure
• Patents
• Protection of Property
Rights
• Competitive Environment
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22. CHARACTERISTICS OF FILIPINO ENTREPRENEUR
• A number of
Filipinos go into
entrepreneurship
because they see
it as an
opportunity for
income creation
and employment.
• Positive exposure
given by the
various forms of
media to
successful
entrepreneurs.
However, this
attitude is
tempered by a
fear of business
failure.
• There are more
females than
males that are
engaged in the
early stage
entrepreneurial
activities in the
Philippines.
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23. CHARACTERISTICS OF FILIPINO ENTREPRENEUR
• In the more
advanced stages
of entrepreneurial
activity, the gender
proportion of
entrepreneurs and
managers become
more even
• In terms of age,
entrepreneurship
in the country
attracts more
young individuals.
• In terms of
educational
attainment, almost
half of
entrepreneurs in
the early stage
development have
finished
secondary school.
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24. CHARACTERISTICS OF FILIPINO ENTREPRENEUR
• Majority of those engaged in early stage entrepreneurial
activities in the Philippines are in consumer services including
retail, food, personal beauty care, appliance and electronic
repair, cleaning services and laundry services.
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25. ENTREPRENEURIAL DECISION-MAKING
Critical Thinking
“refers to the systematic and
rational way of providing an
answer to a question.”
It is systematic since it follows
steps in responding to an inquiry.
It is rational because it adheres to
the rules of logic in connecting the
relationships of variables and in
making conclusions.
Creative Thinking
“refers to thought process that
bring about discovery of new
ideas. The intent of creative
thinking is not to provide an
answer but to ask questions that
can lead to discovery and
change.”
Strategic Thinking
“involves thought processes that
assess a current situation, which
can be useful in the formulation of
plans for the future.”
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26. RISKS, COGNITIVE ADAPTIBILITY AND
ENTREPRENEURIAL DECISIONS
Risks
• Can be described as
uncertain situations and
developments that can
increase the probability of
loss or business failure.
Internal Risks
• Pertain to dangers coming from
the management of resources of
a business enterprise that may
imperil its operation
(for example: liquidity and financial risks,
failing to hire the best talents, damage
to reputation and failure to innovate)
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27. RISKS, COGNITIVE ADAPTIBILITY AND
ENTREPRENEURIAL DECISIONS
External Risks
• Are threats coming from
various environments
outside the business firm.
These can endanger the
operations and profitability
of a firm
(for example: lethargic economy,
increased competition, commodity
price risks, regulatory risks, business
interruptions and political risks)
Cognitive Adaptability
• Refers to the ability of individuals
to be involved in the process of
producing several ways of
decision making based on the
identification and management of
changes in their environment.
• It requires qualities of flexibility,
dynamism and self-control on the
part of the entrepreneur.
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28. Thank you
Chapter 1
Entrepreneurial
Mindset
By Teacher
Ange
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