The document explores the concepts of entrepreneurship, emphasizing its role in wealth creation and innovation. It defines the qualities of successful entrepreneurs and differentiates between various forms of entrepreneurship, including social and business entrepreneurship. The importance of entrepreneurs in creating jobs and driving economies, particularly in the Philippines, is highlighted alongside inspiring examples of successful social entrepreneurs.

1. Introduction to Entrepreneurship Unlocking the Secrets of Wealth Creation April 16, 2011

2. A. General Concepts

3. The ENTREPRENEUR

4. Our common understanding The boss The business owner The risk taker One who starts a small business The resourceful guy?

5. No single definition

6. French word origin Entependre – an undertaker

7. Walt Disney’s definition “… .to do things and make things which will give pleasure to people in new and amazing ways. ….It is magic ! For this course: *From the lecture given by Larry Farrel at SBMA, August 7, 2002 and at UAP, October 30, 2009.

8. Walt Disney and entrepreneurship Simply amazing! Magical

9. Entrepreneurship involves: MAGIC – soft issues LOGIC – hard issues

10. “ It is making the world forever new . It is taking aggressive actions.” According to George Gilder – from “The Spirit of the Enterprise”* According to Joseph Schumpeter -* “ It is destroying the old order and creating new ones.” *From “Business as a Calling” by Michael Novak

11. It is about: NEW: Business ideas Products Processes ENTREPRENEURSHIP A MINDSET About a forever innovating mindset

12. THE THREE MASTERIES FOR AN ENTREPRENEUR: Mastery of Self Mastery of Opportunity Mastery of the Enterprise

13. Mastery of Self Mastery of Organization Enterprise Corporate Entrepreneurial Leadership Corporate Leadership

14. Aspects of Self-Mastery

15. Traits of an Entrepreneur - D’s and F’s Is it better to drop out? Is it better to get F as a grade?

16. Dream Determined Details Dollar (Peso, in our case) Decision Doer Distribute Destiny Devotion Dedication D’s

17. Founder Faith Focused Frugal Fast Fun Flexible Flat Forever Improving F’s

18. Anatomy of the Entrepreneur The Entrepreneurial Mind Frame The Entrepreneurial Gut Game The Entrepreneurial Heart Flame

19. Anatomy of the Entrepreneur WISDOM HEART GUTS What lies behind us, what lies before us, is nothing compared to what lies within us. HANDS

20. Self Analysis: Gifted minds Steely Guts Ability to intuit Courage Patriotic Hearts Hands that truly care Do I possess all of the above?

21. The Entrepreneur’s Brain Let us do a brain surgery …

22. “ I have 4 brains: left cerebral, left limbic, right limbic, Right cerebral.”

23. The HBDI developed by Hermann yielded a brain dominance profile Logical Factual Critical Technical Analytical Quantitative Interpersonal Kinesthetic Emotional Spiritual Sensory Feeling A B D C

24. Arithmetic Algebra Calculus Logic Science Technology Finance Programming Accounting Technical Management Production Arts Geometry Design Poetry Architecture Marketing Social Sciences Psychology Dance Drama High-Skilled Sports People-Management A B C D PREFERRED SUBJECTS

25. Lawyers Engineers Computer Systems Analysts Financial Analysts Technicians Physicians Statisticians Bureaucrats Administrators Bookkeepers Entrepreneurs Explorers Artists Playwrights Scientists in R&D Advertising Guidance Counselors Public Relations Nurses Social Workers Entertainers HRD A B C D Composers Jazz Musicians Planners-Programmers Elementary Teachers Policemen Cashiers Production Supervisors Maintenance People Classical Musicians Salesmen Priests PREFERRED PROFESSIONS

26. CEO’s male or female Cerebral Right mode Left mode Limbic

27. Entrepreneurs Cerebral Right mode Left mode Limbic

28. B. Forms of Entrepreneurship Social Entrepreneurship Business Entrepreneurship Techno Entrepreneurship

29. 1. Social Entrepreneurship

30. 1. Social Business Mix NGO (non-profit) NGO (for-profit) Social Enterprise Social Business Business Enterprise CSR Profit Maximization Business (PMB) Business Enterprise

31. Social Entrepreneurship “ Any creative and innovative solution applied to solve social problems” (Mohammad Yunus, 2007) It involves social mission Profit and/or entrepreneurial processes

32. Banker to the poor

33. Social Entrepreneurship “ Search for approaches to move poor people out of poverty beyond welfare-based safety nets.” No more charities Sustainability Profits for non profits

34. Social Entrepreneurship CSR – corporate social responsibility CSV – corporate shared value Human Nature

35. Social Business The triple bottom line PEOPLE PROFIT PLANET BOP – Bottom of the Pyramid

36. BOP – Bottom of Pyramid A-B 9% C 20% D-E 31% F 40% Living on less than $2 per day Above poverty threshold Living on less than $1 per day

37. Mother Teresa did what no other person has done before – to take care of the poor, destitute and lepers

38. Lance Armstrong 7 times Tour de France champion His real victory is with the LAF where he helps hundreds of cancer victims

39. Sir Edmund Hillary was first to conquer Mt. Everest

40. Sir Edmund Hillary came back to Nepal and helped the Sherpas improve their living conditions.

41. Mohammad Yunus Taught Developmental Economics at the University of Chitagoong in Bangladesh. Economics, right at the outskirt of the University, poverty was everywhere. He found out that all that was needed by the poor was a loan of 27 chakas. That’s how the Grameen Bank started.

42. Why are they entrepreneurs ? They had little or no resources at all but they survived and achieved what they wanted in life

43. 2. Business Entrepreneurship Business for profit

44. Business Entrepreneurship It’s about the study of systems, structure, and staffing to make a large corporation stay competitive, innovative, and profitable on a sustainable basis.

45. The business cycle according to Larry Farrel – int’l expert on entrepreneurship Survival / Failure Decline Growth Start ENTREPRENEURIAL MANAGERIAL

46. No longer excellent!... In 1983, there was the book In Search of Excellence by Tom Peters and Waterman. It sold 6 million copies. Then... Something went wrong...

47. 33% of the “Excellent” Companies vanished Too big to fail companies Where are they now?: Washington Mutual Bear Stearns Pacific Bank Banco Filipino

48. Vanishing giants Dinosaurs of the corporate world

49. ENTREPRENEURIAL COMPANIES Keeping the Sense of Mission alive as you grow Re-instilling customer/product vision in every employee Fostering high-speed innovation Making self-inspired behavior the organization standard

50. BUSINESS ENTREPRENEURSHIP Entrepreneur (Self) Resources Opportunity IDEA REALITY TIME

51. Differentiation Growth Strategic direction

52. Three Competencies of the Complete Entrepreneur ORIGINATOR OPERATOR ORGANIZER innovator inspirer implementor

53. Compelling Reasons Why We Need Entrepreneurs 90% of the world’s jobs are created by entrepreneurs Source of new products and innovation In the third-world countries, the entrepreneurs keep the sagging economies alive It’s the entrepreneurs – not the central bank – that keep the economy moving Finally...

54. ...in the Philippines It’s not GMA nor the government that was responsible for sheltering the Philippines against bad times. GUESS WHO?!

55. In the GEM report of 2006-2007, RP is No. 2 in the world for entrepreneurial activity. Peru is No. 1

56. RP is a HOTBED OF ENTREPRENEURSHIP! 4 out of 10 adult Filipinos are into business Highest in Northern Luzon – 54% Lowest in Metro Manila – 30% In the early stages, it is highest in Mindanao, at 73%

57. Entrepreneurship in the Philippines: Issues from a Global Perspective

58. Other trivia: Battle of the sexes: 51% of all businesses are started by women 55% of all businesses are run by men Of the nascent businesses, 60% are run by women

59. Entrepreneurial “ION” (Process) Ambit ION Pass ION + Sea of Opportunity Inspirat ION (idea) Perspirat ION (past jobs) RecreatI ON (hobbies) Frustrat ION (what pisses you off) Idea Fruit ION Enterprise Creat ION =

60. Is Entrepreneurship easy? We choose to go to the moon in this decade and do all the other things to get there, not because they are easy but because they are hard , because that goal will serve to measure the best of our energies and skills, because that challenge is one we are willing to accept and we are unwilling to postpone, and which we intend to win and others too. -- JFK, 1962

61. So you want to be a billionaire Put your name here: __________________________________ THE NEXT MILLIONAIRE / WINNER