ENTREP Q3 W1

OBJECTIVES
At the end of this module, you are expected

to:
a. understand the relevance of the course;
b. identify the basic concepts and
characteristics of entrepreneurship; and
c. explore job opportunities for
entrepreneurship.
Lesson 1: Importance
of Entrepreneurship
INTRODUCTION OF ENTREPRENEURSHIP
Why do we need to
study
entrepreneurship?
How entrepreneurship
does affect us?
Entrepreneurship teach us to..
• creates opportunity
• ensures social justice
• instills confidence
• stimulates the economy
• take risks
• fail and to persevere
• become creative, inventive and
innovative
Entrepreneur
An entrepreneur is a
person who creates
unique ideas that will
be useful for starting a
business.
5
Entrepreneur
The term entrepreneur

regenerates from the French
word entreprendre, which
means to undertake. It
connotes a business
paradigm which signifies the
start of a new business
undertaking
6
Entrepreneurship
the science of
converting processed
ideas into a
remarkable business
venture
7
Entrepreneurship
The art of observing

correct practices in
managing and operating a
self owned, wealth creating
business enterprise by
providing goods and
services that are valuable to
the customers.
8
Entrepreneurship is a key driver of our
economy.
-The 1987 Philippine Constitution recognizes entrepreneurship as
an engine of economic growth.
-Article XII Section 1 highlights the role of private enterprises in
supporting equitable distribution of income and wealth, sustaining
production of goods and services and expanding productivity,
therefore raising the quality of life.
Entrepreneurship is more than just an
economic term — it is a way of thinking.
-People exposed to entrepreneurship frequently express that they
have more opportunity to exercise creative freedoms, higher self-
esteem, and an overall greater sense of control over their own
lives.
-Entrepreneurship is a way of inspiring creative individuals to
pursue opportunities despite its risks.
What Makes Someone an
Entrepreneur?
Personal Attributes
•Creativity is the spark that drives the
development of new products or
services or ways to do business. It is the
push for innovation and improvement.
•Dedication is what motivates the
entrepreneur to work hard. Planning of
an ideas must be joined by hard work to
succeed.
Personal Attributes
•Determination is the extremely strong
desire to achieve success. It includes
persistence and the ability to bounce
back after rough times.
•Flexibility is the ability to move quickly
in response to changing market needs. It
is being true to a dream while also being
mindful of market realities.
•Leadership is the ability to create rules
and to set goals.
Personal Attributes
•Passion is what gets
entrepreneurs started and keeps
them there.
•Self-confidence comes from
thorough planning, which reduces
uncertainty and the level of risk.
•“Smarts” consists of common
sense joined with knowledge or
experience in a related business
or endeavor.
Why should
becoming an
entrepreneur be
any different?
Required Education
-educational requirements for entrepreneurs
are nonspecific
-all entrepreneurs need capital, so the
ability to write an effective business plan is
vital
Required Skills
-tolerance for risk taking and a willingness
to leave the security of a conventional and
tedious job
-the ability to multitask is a key
Career Outlook
-earnings for entrepreneurs vary drastically,
and income is often unstable, especially in
the early days of a new business
Career Opportunities in
Entrepreneurship
Business consultant
Business consultants provide advice about
business issues, such as the development and
implementation of business plans, how to
streamline operations or how to expand into a
new market.
Management analysts
The person who evaluates a business' systems,
procedures and operations, they may also
review a business' financial matters, such as
the ratio of income to expenditures.
Entrepreneurship
Sales
Someone who works in sales or runs the
department needs to know how businesses
run. They need to know how to represent a
company, manage accounts, and follow up on
leads.
Research and development

To work in R&D, you need to understand
business concepts, procedures, and practices.
With all of the training and education someone
has received learning about entrepreneurship,
they are well prepared for this type of position.
Entrepreneurship
Not-for-profit fundraiser
Being able to raise funds requires understanding
the importance of business and networking
relationships. It is a great place for someone with
this type of degree because you will have
experience in studying advanced concepts that
can be used to your advantage on the job.
Intrapreneur
An intrapreneur is an inside entrepreneur, or
an entrepreneur within a large firm, who uses
entrepreneurial skills without incurring the risks
associated with those activities.
Written Works 1: Drop It!
Directions: Fill out the table below by listing
down 5 small businesses operating in your
community. What are the goods and services
these businesses offer? Take note that
businesses seem to be attracting many
customers. If you were also a customer who
buys from these businesses, reflect on what
makes you buy from them.
Written Works 1: Drop It!
Reasons why
Business Goods Services customers
Name Offered Offered buy from
them

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OBJECTIVES

At the end of this module, you are expected

The term entrepreneur

The art of observing

Research and development

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