2. Module ONE
• Unit I: Conceptual Overview of Entrepreneurship
• Unit II: Recognizing Opportunities and Generating Idea
• Unit III: Small Business and Corporate Entrepreneurship
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Unit IV: Developing Business Model
Unit V: Developing A Business Feasibility Plan
Unit VI: Assessing A New Venture Financial Viability and Strength
Module TWO
3. UNIT I
CONCEPTAL OVERVIEW OF Entrepreneurship
It is a kind of behavior that includes:
•Initiative taking
•Innovation-Venture creation by creative individuals
•The organizing and reorganizing of Resources
•The acceptance of risk and failure
Entrepreneurship is one of the four mainstream
economic factor : land, labor, capital and
Entrepreneurship.
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4. Con’t
• An entrepreneur is a person who has possession
of a new enterprise, venture or idea and
assumes significant accountability for the
inherent risks and the outcome. The term is
originally a loanword from French (entreprende)
which means “to undertake
• Entrepreneurship is the process of creating or
seizing an opportunity and pursuing it regardless
of the resources currently controlled.
• It is all about taking calculated risk to turn
Business opportunities into business enterprises.
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5. Basic Aspects of being an entrepreneur
1. Involves the creation of value
2. Innovative ways of doing & using resources
3. Requires the devotion of necessary time and
effort
4. Assuming the necessary risk (calculated)
5. Take the reward of being an entrepreneur
• David H. Holt pointed out that, “America was discovered by
entrepreneurs, nourished by entrepreneurs, and the United States
has become a world economic power through entrepreneurial
activity.”
• Entrepreneurship constitutes the driving force of the American
dream.”
American politics is all about economy.
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6. Economic and development of Entre. Concepts
• Richard Cantillon in 1755: described an
entrepreneurs as a person who pays a certain
price for a product to resell it at an uncertain
price----- they make decision about obtaining and
using resources (resource allocation)
• Adam Smith—1776 Wealth of Nations; an
individual who undertook the formation of an
organization for commercial purpose….. A person
who could recognize potential demand for goods
and services.
Therefore, entrepreneurs are economic agents who
transform demand into supply.
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7. Con’t
• Jean Baptiste(1803); descried an entrepreneur as one
who possessed certain arts and skills of creating new
economic enterprises base on social needs.
• Carl Menger (1840-1921) Principles of Economics;
economic change does not arise from circumstances but
from an individual’s awareness and understanding of
those circumstances (entrepreneurs)
Menger’s Model of Value-Added Transformation of
Resource---- shows opportunities for adding value in a
chain is rewarded through profit;
One who add value more efficiently and rapidly add more
value to the society.
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