Introduction to Entrepreneurship

1. Introduction to
ENTREPRENEURSHIP

2. After the discussion, students
should be able to:
• Discuss the relevance of the
course;
• Explore job opportunities for
Entrepreneurship as a career.

5. • In our world today, people don’t say
rich or poor countries anymore
(because they are thought to be
insulting)
• They no longer refer to first, second or
third world countries as they are said
to demean a countries status instead
of its value as a country.
• Today we are referred to as developed
or developing countries.

6. WHAT DO WE MEAN BY
DEVELOPED COUNTRIES?

7. WHAT DO WE MEAN BY
DEVELOPING COUNTRIES?

8. SOCIO ECONOMIC CIRCUMSTANCES

9. UNITED NATIONS DEVELOPMENT
PROGRAMS
Uses the following data to compare and
rank countries all over the world:
• Average life expectancy (Health)
• Literacy Rate (Education)
• Average Gross Domestic Product per
capita (Income)
HUMAN DEVELOPMENT INDICATORS
(HDI)

14. •There are many factors that
affect a countries development.
•These are mostly linked to the
social, cultural and political life
in both domestic and
international world.

15. DOES AGE OF A COUNTRY MATTER?

16. DOES AGE OF A COUNTRY MATTER?

17. DOES AGE OF A COUNTRY MATTER?

18. DOES AGE OF A COUNTRY MATTER?

19. DOES AGE OF A COUNTRY MATTER?

20. DOES NATURAL RESOURCES MATTER?

21. DOES POPULATION SIZE MATTER?

22. DOES CLIMATE MATTER?

23. DOES INTELLECTUAL CAPACITY
MATTER?

24. DOES RELIGION MATTER?

25. DOES RACE MATTER?

26. DOES SKIN COLOR MATTER?

27. WHAT IS DEVELOPMENT?
HOW DO WE MEASURE
DEVELOPMENT?

28. • Traditional economics measures
development in terms with the national
economy’s capacity to generate and
sustain an annual increase on its GNI.
• Gross National Income (Previously known
as the GDP – Gross Domestic Product).
• This measures how much goods and
services are available for consumption
and investment of the regular citizen.

29. • Many developing countries has
achieved the required GNI by the UN
but still they are still considered
poor.
• The GNI lacks information to be
considered as a measure of
development.

30. According to Michael Todaro, development
means:
• A multi-dimensional process involving
major changes in social structure,
population, attitudes and national
institutions as well as acceleration of
economic growth, the reduction of
inequality and eradication of absolute
poverty”.
• Development must help elevate an
entire society and its social system
towards a better and more human life.

31. THE THREE CORE VALUES OF
DEVELOPMENT
According to Dennis Goulet, the three
core values used for development are:
1.Life sustenance
2.Self- Esteem
3.Freedom from Servitude
The United Nations has adopted these
core values of development.

32. LIFE SUSTENANCE
• The ability for the economy to provide
basic needs.
• The economy must be able to provide
to as many people as possible to
overcome helplessness and misery
from lack of food, shelter, health and
protection.

33. SELF ESTEEM
• The extent one can become a person.
• The sense of self worth and respect,
of not being used by others as a tool
for their own selfish needs.
• Authenticity, identity, dignity, respect,
honor or recognition.
• The nature of self-esteem varies from
one culture or society to another.

34. FREEDOM FROM SERVITUDE
• The extent that a person is free to
make choices.
• In set free of themselves from
material conditions of life and social
servitude to nature, ignorance,
dogmatic belief and to other people.
• Expanding your choices with
minimum constraints in pursuit for
societal goals.

35. As to MAHBUB UL HAQ

36. ENTREPRENEURSHIP &
HUMAN DEVELOPMENT
• Many developing countries have resorted to
many alleviating measures as they raise
themselves to the league with richer
countries.
• One of these measures are sending citizens to
work abroad.
• While another is businesses – will help raise a
country’s level of development
• MSMEs – Micro, small, medium enterprises.

37. What is Entrepreneurship?
Entrepreneurship is the capacity and willingness to
develop, organize and manage a business venture along
with any of its risks in order to make profit. The most
obvious example of entrepreneurship is the starting of
new business. In economics, entrepreneurship combined
with land and labor, natural resources and capital can
produce profit. Entrepreneurial spirit is characterized by
innovation and risk – taking, and is an essential part of a
nation’s ability to succeed in an ever changing and
increasingly competitive global market place.

38. What is Entrepreneurial Mindset?
Entrepreneurial Mindset
– refers to specific state of mind which orientate
human and conduct towards entrepreneurial activities
and outcomes. Individuals with entrepreneurial
mindsets are often drawn to opportunities, innovation
and new value creation. Characteristics include the
ability to calculate risks and accept the realities of
change and uncertainty.

39. FIXED MINDSET GROWTH MINDSET
 Innate
 Unchanging
SKILLS
 result of hard work
 can always improve
 something to avoid
 will reveal lack of skill
overwhelm
CHALLENGES
 embrace
 opportunity to change
 calls for perseverance
 not necessary
 linked to being not good
enough
EFFORT
 essential
 leads to mastery
 produces defensiveness
 personalized FEEDBACK
 useful and positive
 welcomed
 identify areas to improve
 blame others
 easily discourage
SETBACKS
 opportunities to learn from
 focus on making changes

40. CORE COMPETENCIES OF AN ENTREPRENEUR
Are entrepreneurs born or made?
Commonly, characteristics such as risk seeking,
assertiveness and vision are considered typical of a
successful entrepreneur. But these are innate
predispositions or aspects of temperament; by using
them as yardstick, it is wrongly concluded that only
certain types of people make good entrepreneurs or are
capable of worthwhile innovations, but instead
entrepreneurial behavior can be learned and developed.

41. Based on the empirical studies of hundreds of
entrepreneurs done by Idea, it reveals that
entrepreneurial behavior is the result of a
combination of:
Strong motivation to achieve something; and
The capabilities to achieve it.

42. Furthermore, there are three levels of competencies,
which all entrepreneurs need:
1. Personal competencies: creativity, determination,
integrity, tenacity, emotional balance, and self-
criticism.
2. Interpersonal competencies: communication,
engagement, delegation and respect.
3. Business competencies: business vision, resource
management, networking and negotiating skills.

43. Qualities of an Entrepreneur
Qualities of
an
Entrepreneur
Initiative
Wide
Knowledge
Willingness
to assume
task
Open mind
and
optimistic
outlook
Adaptability
Self
Confidence
Leadership
Qualities
Orientation
towards
hard work

44. CAREER OPPORTUNITIES
REWARDS IN BUSINESS
• Higher possibilities for greater income. You can set your
target income freely and work hard for it. Because you
manage your own business, you can now reach out and take
actions to all of the opportunities out there that can create
an income and will prosper your business.
• “Be your own boss” You are the boss to your own business.
Including the time, making decisions, setting goals, when to
say “Yes” or “No” and everything. But just be reminded that
everything you made has a consequence. So as
entrepreneurs, it is a challenge for you to lead your business
and your people in a right direction and in a right way.

45. CAREER OPPORTUNITIES
REWARDS IN BUSINESS
• Opportunity to stretch and use your capacity and creativity.
There is a wide opportunity for you to stretch and use your
capacity and creativity as an entrepreneur. No one will stop
you if you want to do something. Only yourself if you allow
it. Your self is the one who will bring out the inner drive you
possess to offer great ideas that can change the world.
• Opportunity to help others. Through your business you can
partner and help with social enterprise, suppliers from the
community and provide job opportunities to people out
there, neighbors and even to your family member.

46. CAREER OPPORTUNITIES
REWARDS IN BUSINESS
• Build an entrepreneurial legacy. Just like Sy the founder of
SM which is widely spreading its influence in business; and
Donald Trump who started the U.S. realty game show which
a group of aspiring businessmen and women who competes-
“ The Apprentice”. Mr. Sy and Mr. Trump builds legacy and
inspire other people to achieve more through their discipline
and right attitude which lead them to where they are right
now. The legacy they have made transferred to their next
generation ad many generations

47. RISK IN BUSINESS:
• Possibility in Failure. In having a business, not all the time
you will gain profits and you will be successful. There are
some times that you will experience failure but as an
entrepreneur, it’s a challenge to you to face the failure
and use it as an opportunity, learn from your mistakes
and start over again but this time you are stronger. That’s
makes a successful entrepreneur.
• Unpredictable state in industry. Time to time the supply
and demands is quickly changing. But as an entrepreneur,
problems are great are great opportunities to seek
possibilities. You can now strategies on how to respond
positively to the changes that are always moving around.

48. RISK IN BUSINESS:
• Longer time of working hours. It requires you longer hours
in a day to work than a regular employee does. This will
happen most especially if you don’t have employee yet.
But sooner or later, you will gain the pain through the
reward that your business may give you back according to
the hard work have done.
• Wider range of responsibilities.

49. Written Task

50. Qualities of an Entrepreneur
Instruction: Assess and rate yourself from 1-10 ( 1 is the lowest
and 10 is the Highest) the qualities listed below. Identify at five (3)
strategies that will act upon to achieve a higher (highest) rating for
each of the qualities of an entrepreneur listed below.
Qualities of and
Entrepreneur
Rating
Strategies
(Cite atleast three)
1. Initiative
2. Wide Knowledge
3. Willingness to
assume task
4. Open-mind and
optimistic Outlook

51. Qualities of an Entrepreneur
Instruction: Assess and rate yourself from 1-10 ( 1 is the lowest
and 10 is the Highest) the qualities listed below. Identify at five (3)
strategies that will act upon to achieve a higher (highest) rating for
each of the qualities of an entrepreneur listed below.
Qualities of and
Entrepreneur
Rating
Strategies
(Cite atleast three)
5. Adaptibility
6. Self-Confidence
7. Leadership Qualities
8. Orientation towards
hardwork

52. My Dream Board
List down dreams that you want to achieve,
three (3) to five (5) years from now. Categorize these
into four (4): Family, Personal, Career and Spiritual.
Cut out or draw your dream in your dream board.
Enumerate specific details like color, size, date,
location who is with you when you reach that
dreams. Make one sentence/ paragraph cheer/
slogan for yourself.

53. a.Dream board for your FAMILY

54. a.Dream board for your FAMILY
Processing Questions:
1. How do you find the activity?
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2. What drives you in achieving these dreams?
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55. a.Dream board for your PERSONAL

56. a.Dream board for your PERSONAL
Processing Questions:
1. How do you find the activity?
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2. What drives you in achieving these dreams?
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57. a.Dream board for your CAREER

58. a.Dream board for your CAREER
Processing Questions:
1. How do you find the activity?
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2. What drives you in achieving these dreams?
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59. a.Dream board for your SPIRITUAL

60. a.Dream board for your SPITUAL
Processing Questions:
1. How do you find the activity?
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2. What drives you in achieving these dreams?
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