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This document discusses entrepreneurship and the characteristics of entrepreneurs. It defines entrepreneurship as conceiving new business opportunities and having the initiative to pursue them. An entrepreneur takes risks to start new enterprises with innovative ideas. The document lists several benefits of entrepreneurship such as introducing innovation, creating new markets and employment opportunities. It contrasts businessmen who work within existing systems from entrepreneurs who start unique ventures. Entrepreneurs exhibit traits like persistence, risk-taking, goal-orientation and the ability to cope with uncertainty. Their competencies include creativity, communication skills, business vision and resource management.
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It can be classified into small or home business to multinational companies. In economics, the
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Small Business EntrepreneurshipThese businesses are a hairdresser, grocery store, travel agent, consultant, carpenter,
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They attract investors who think and encourage people who think out of the box. The research
focuses on a scalable business and experimental models, so, they hire the best and the
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business.
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offering new and innovative products that revolve around their main products. The change in
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- 2. Activity 1 What can you recall about Entrepreneurship?
- 3. - is a mantra in the age of globalized economy. as defined by Glider is “Making the World forever new” It originates from the French word “ENTREPRENDRE” meaning an undertaker. Thus, an entrepreneur is a person who is willing to undertake risks to create a new enterprise.
- 4. - is a mantra in the age of globalized economy. According to Dyck and Neubert (2012), entrepreneurship is conceiving an opportunity to offer new or improved goods and services, showing the initiatives to pursue that opportunity, making plans, mobilizing the resources necessary to convert the opportunity into reality.
- 5. Relevance of Entrepreneurship and Entrepreneurs Introduces innovation Develops new market Creates employment Generates new materials Improves the quality of life. Bring social benefit to the people Utilizes and mobilizes indigenous resources Provides more alternatives for consumers.
- 6. Businessman Entrepreneur Someone who set up a business with an existing idea and offering product and services to the customers. A person who starts an enterprise with a new idea or concepts, undertaking commercial activities. Start business from existing idea or concepts. Start the business with unique idea or concepts. Focuses on competition Focuses on cooperation His business gives him a living. He gave life to his business Traditional Innovative and revolutionary Stays safe Risk taker and accountable Profit-oriented People-oriented(employee, customer, public) Market player Market leader Has not yet achieve financial freedom Has achieved financial freedom
- 7. There arethree level of Entrepreneurial Competenciesnamely: Personal, Interpersonal, and Business competencies. Personal Interpersonal Business Creativity Determination Tenacity Emotional Balance Self-Criticism Communicatio n Charisma Engagement Respect Delegation Business vision Resource management Networking Negotiating skills
- 8. Characteristics of an Entrepreneur Achievement Cluster Planning Cluster Power Cluster Persistence Goal-oriented Self confidence Opportunity seeking Information seeking Persuasion and networking Hard working Systematic planningand monitoring Responding to feedbacks Coping with failure Setting own standards Building strength Coping with uncertainty Building for the future Demonstrating initiative Risk-taking
- 9. Activity 2: Describe Me! Directions: Given the word ENTREPRENEURSHIP, give each letter an appropriate word that correspond to a good behavior of an entrepreneur. Use an adjective. Write your answer in a separate sheet of paper. E-________________________________ N-________________________________ T-________________________________ R-________________________________ E-________________________________ P-________________________________ R-________________________________ E-________________________________ N-________________________________ E-________________________________ U-________________________________ R-________________________________ S-________________________________ H-________________________________ I-________________________________ P-________________________________