Entrepreneurship 01: PPT by Dglanoy

Entrepreneurship 01
PPT by dglanoy
ENTREPRENEURSHIP
ABILITY TO BE ABLE TO KNOW AND PROVIDE WHAT

PRODUCTS AND SERVICES ARE NEEDED BY PEOPLE AT THE
RIGHT TIME, AT THE RIGHT PLACE AND TO THE RIGHT
PEOPLE, AND AT THE RIGHT PRICE.
PRIMARILY INVOLVES HAVING A GREAT IDEA OR CONCEPT, AND

GATHERING RESOURCES (PEOPLE, MONEY, RAW MATERIALS,
KNOWLEDGE, AND KNOW-HOW) IN ORDER TO PRODUCE THE
PRODUCTS AND SERVICES THAT PEOPLE ARE WILLING TO BUY
Importance of entrepreneurship
TO THE FILIPINO PEOPLE:

• Helps improve their financial and social life
• Helps broaden their creativity
TO THE LOCAL COMMUNITY:

• Provides employment in the community
• MSMEs generated a total of 3,595,641 jobs in 2009
compared to 2,094,928 for large enterprises.
• Creates new demand in the market
• Creates business opportunities
• Increases constructive competition
TO THE PHILIPPINE ECONOMY:
• Encourages competitiveness and thereby challenges entrepreneurs to
keep improving their product and services
• Facilitates sooth flow of money supply in the market
• Assists the national government in its desire to have favorable
economic ratings the world market
ENTREPRENEURIAL
PROCESS
Discovery
Development of
Concept
Organizing
Resources
Implementation
Reaping the returns

ENTREPRENEURIAL
PROCESS
Discovery - Recognition of business ideas
Development of
Concept - Gives the details and
suggests the preparation
Organizing of a business plan
Resources
Implementation
Reaping the returns

ENTREPRENEURIAL
PROCESS
Discovery
Development of
Concept
Organizing
Resources Implementation
- process of -process of carrying out
identifying, sourcing, the business plan
and financing human, including mechanism for
confronting actual and
nonhuman, and other
potential rival
resources Reaping the returns
ENTREPRENEURIAL
PROCESS
Discovery
Development of
Concept
Organizing
Resources Implementation
Reaping the returns

-strategies related to expansion, covers
mechanisms for addressing conditions that
may affect the future of the business
TYPES OF ENTERPRISES
ACCORDING TO OWNERSHIP:
The Sole Proprietorship: is not a legal entity. It simply refers to a natural
person who owns the business and is personally responsible for its debts.
The sole proprietorship has no separate identity under the law.
Disadvantages of the Sole Proprietorship
Advantages of the Sole Proprietorship • Owners are subject to unlimited personal
• Owners can establish a sole proprietorship liability for the debts, losses, and liabilities
instantly, easily, and inexpensively. of the business.
• Sole proprietorships carry little, if any, • Owners cannot raise capital by selling an
ongoing formalities. interest in the business.
• Owners may freely mix business and • Sole proprietorships rarely survive the death
personal assets. or incapacity of their owners and so do not
retain value.
The Partnership: is a business form created automatically when two or
more persons engage in a business enterprise for profit
Disadvantages
Advantages • All owners are subject to unlimited personal
• Owners can start partnerships relatively liability for the debts, losses, and liabilities
easily and inexpensively. of the business
• Partnerships do not require annual meetings • Individual partners bear responsibility for
and require few ongoing formalities. the actions of other partners.
• Poorly organized partnerships and oral
partnerships can lead to disputes among
owners.
A Corporation: is a body –I t is a legal person in the eyes of the law. It can
bring lawsuits, can buy and sell property, contract, be taxed, and even
commit crimes. Its most notable feature: a corporation protects its owners
from personal
Advantages
liability for corporate debts and obligations--within
Disadvantages limits.
• Corporations require annual meetings and
• Owners are protected from personal liability require owners and directors to observe
for company debts and obligations. certain formalities.
• Corporations have a reliable body of legal • Corporations are more expensive to set up
precedent to guide owners and managers. than partnerships and sole proprietorships.
• Corporations can more easily raise capital • Corporations require annual fees and
• Corporations can have an unlimited life. periodic filings with the state.

Entrepreneurship 01: PPT by Dglanoy

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Entrepreneurship 01

ABILITY TO BE ABLE TO KNOW AND PROVIDE WHAT

PRIMARILY INVOLVES HAVING A GREAT IDEA OR CONCEPT, AND

TO THE FILIPINO PEOPLE:

TO THE LOCAL COMMUNITY:

Reaping the returns

Reaping the returns

Reaping the returns

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