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Introduction to Entrepreneurship Q1-ENTREP
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- 2. 1. Explain thefundamental concepts of entrepreneurship and recognize the characteristics of successful entrepreneurs. 2. Develop the ability to identify business opportunities and outline the initial steps for starting a business.; and 3. Cultivate a positive attitude towards entrepreneurship by appreciating its importance in personal and professional development and showing willingness to engage in entrepreneurial activities. Objectives Page 02 File Edit View
- 3. Page 06 File EditView Entrepreneur vs. Entrepreneurship Define who an entrepreneur is (a person who starts and runs a new business) and what entrepreneurship is (the process of starting and operating a business).
- 4. Page 06 File EditView Entrepreneur: Definition: An entrepreneur is an individual who initiates, organizes, manages, and assumes the risks associated with starting and running a business or venture. They are often seen as innovative risk-takers who identify opportunities and create value through their business activities. Role: Entrepreneurs are the driving force behind the creation and growth of new businesses. They come up with innovative ideas, assemble resources, make decisions, and take on the responsibility of turning their ideas into successful ventures. Characteristics: Entrepreneurs typically possess traits such as creativity, a willingness to take calculated risks, resilience, adaptability, and a strong drive to achieve their goals.
- 5. Page 06 File EditView Entrepreneurship: Definition: Entrepreneurship refers to the process of identifying, developing, and pursuing opportunities to create new businesses or to enhance existing ones. It encompasses the activities and behaviors involved in launching, managing, and growing a business. Scope: Entrepreneurship is a broader concept that encompasses not only the actions of individual entrepreneurs but also the entire ecosystem, including the various factors and elements that support and influence entrepreneurial activities. Focus: While entrepreneurs are individuals, entrepreneurship is more about the collective set of processes, activities, and resources that facilitate and promote innovation, value creation, and economic growth..
- 6. Page 06 File EditView Entrepreneur vs. Businessman Clarify that an entrepreneur typically seeks to innovate and create new products/services, while a businessman may operate within existing markets with established products/services.
- 7. Page 06 File EditView Employed vs. Self-Employed Compare the characteristics of being employed by someone else (working for a company) versus working for oneself (running one's own business).
- 8. Page 06 File EditView 1. Development of Managerial capabilities - this means that one of the benefits an entrepreneur gets is to develop his managerial skills. 2. Creation of Organizations - which means that because of entrepreneurships many organizations will exist. 3. Improving standard of living - this means that entrepreneurship can lift up the economic status of an individual. 4. Means of economic development - this means that not only the life of the entrepreneur is improved but also the society where the business is located. Relevance of Entrepreneurship to an Organization
- 9. Page 06 File EditView The word “entrepreneur” was derived from the French verb enterprendre, which means “to undertake.” This is pinpointing to those who “undertake” the risk of enterprise. The enterprise is created by an entrepreneur and the process is called “Entrepreneurship.” Entrepreneurs are innovators, willing to take risks and generate new ideas to make it unique and profitable solutions to the present-day problems. Concept of Entrepreneurship
- 10. Factors Affecting Entrepreneurship a.Initiative - which means doing things even before being told. b. Proactive -which means he can classify opportunities and seize it. c. Problem Solver - which means he can retain good relations with other people. d. Perseverance - meaning he will pursue things to get done regardless of challenges. e. Persuasion - means that he can entice people to buy even if they don’t. Page 12 File Edit View Personality Factors f. A Planner - meaning he makes plan before doing things and do not fail to monitor it. g. Risk-taker - which means that he is willing to gamble but he will calculate it first.
- 11. Factors Affecting Entrepreneurship a.political, b.climate, c.legalsystem, d.economic and social conditions and e.market situations. Page 12 File Edit View Environmental Factors
- 12. Factors Affecting Entrepreneurship theentrepreneurs have big business ideas and they do not stop improving and thinking of new worthwhile ideas for their business. Page 12 File Edit View Innovative
- 13. Factors Affecting Entrepreneurship Entrepreneurshipis an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources. Page 12 File Edit View Economic and dynamic activity
- 14. Common Competencies in Entrepreneurship anentrepreneur must be firm in making decisions. an entrepreneur must have a convincing power. an entrepreneur must have the charisma to be obeyed by his employees. Page 12 File Edit View Decisive Communicator Leader
- 15. Common Competencies in Entrepreneurship anentrepreneur must have the ability to be the first to see business chances. controlling a situation by making things to happen or by preparing for possible future problems. they have the courage to pursue their business ideas. Page 12 File Edit View Opportunity seeker Proactive Risk Taker
- 16. Core Competencies inEntrepreneurship Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources. Page 12 File Edit View Economic and dynamic activity
- 17. Core Competencies inEntrepreneurship The entrepreneur needs to gamble but wise enough to offset the risk. Entrepreneurs constantly look for new ideas, thus he needs to be creative. The entrepreneur can be compensated by his profit coming from the operation. Page 12 File Edit View Risk bearing Profit Potential Innovative
- 18. Types of Entrepreneurs Theyare those who always make new things by thinking of new ideas. They have the ability to think newer, better and more economical ideas. Page 12 File Edit View Innovative entrepreneur
- 19. Types of Entrepreneurs Theyare those who don’t create new things but only follow the ideas of other entrepreneurs. Page 12 File Edit View Imitating entrepreneurs
- 20. Types of Entrepreneurs Theyare skeptical about changes to be made in the organization. They don’t initiate but follow only after they are satisfied. Page 12 File Edit View Fabian entrepreneurs
- 21. Types of Entrepreneurs Theyare those who lives on the labor of others. They are die-hard conservatives even ready to suffer the loss of business. Page 12 File Edit View Drone entrepreneur
- 22. Types of Entrepreneurs Theyare those who initiate changes and drive social innovation and transformation in the various fields such as education, health, human rights, environment and enterprise development. Page 12 File Edit View Social entrepreneurs
- 23. Career Opportunities ofEntrepreneurship with the expertise of in the field of entrepreneurship, he can be a very good source of advices to other entrepreneurs and would be business man. Page 12 File Edit View Business Consultant
- 24. Career Opportunities ofEntrepreneurship a graduate of an entrepreneurship can use his knowledge in teaching. Page 12 File Edit View Teacher
- 25. Career Opportunities ofEntrepreneurship the entrepreneur can be employed as researcher by an enterprise. Page 12 File Edit View Researcher
- 26. Career Opportunities ofEntrepreneurship the entrepreneurship graduate can apply as salesman. Page 12 File Edit View Sales
- 27. Career Opportunities ofEntrepreneurship the entrepreneur being expert in the field, he can be employed as business reporter. Page 12 File Edit View Business Reporter
- 28. Page 17 File EditView THANK YOU!
Editor's Notes
- #3 Marketing Mix is a set of controllable and connected variables that a company gather to satisfy a customer better than its competitor. It is also known as the “Ps” in marketing.
- #4 Marketing Mix is a set of controllable and connected variables that a company gather to satisfy a customer better than its competitor. It is also known as the “Ps” in marketing.
- #6 Marketing Mix is a set of controllable and connected variables that a company gather to satisfy a customer better than its competitor. It is also known as the “Ps” in marketing.
- #7 Marketing Mix is a set of controllable and connected variables that a company gather to satisfy a customer better than its competitor. It is also known as the “Ps” in marketing.
- #8 Marketing Mix is a set of controllable and connected variables that a company gather to satisfy a customer better than its competitor. It is also known as the “Ps” in marketing.
- #10 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #11 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #12 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #13 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #18 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #19 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #20 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #21 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #22 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #23 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #24 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #25 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #26 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways:
- #27 Purpose "Every brand makes a promise. But in a market in which customer confidence is little and budgetary observance is great, it’s not just making a promise that separates one brand from another, but having a significant purpose," (Allen Adamson). How can you define your business' purpose? According to Business Strategy Insider, purpose can be viewed in two ways: