01-ENTREP-MELC-WEEK-1 Grade 12 entrepreneurship

01-ENTREP-MELC-WEEK-1 Grade 12 entrepreneurship

1. ENTREPRENEURSHIP

2. she peeled paper of discarded cigarettes and was paid 5 centavos per pack her siblings had to work in candy and bubble gum factories her elder sister married the son of an established bookstore owner landing this lady a job as a salesgirl in one of the book stalls seems this lady was destined to pursue a career related to books for soon enough she met Jose, the son of a bookstore clan. SOCORRO CANCIO-RAMOS first store was destroyed during the war

3. Entrepreneurship proactive process of developing a business venture to make a profit involves seeking opportunities for a market establishing and operating a business out of the opportunity assessing its risks and rewards through close monitoring of operations

4. Entrepreneurship process of creating something new and assuming the accompanying risk and rewards - Robert Hisrich

5. Entrepreneurship “It is making the world forever new . It is taking aggressive actions.” - George Gilder

6. Entrepreneurship “It is destroying the old order and creating new ones.” - Joseph Schumpeter

7. RELEVANCE , SOCIETAL AND ECONOMIC BENEFITS OF ENTREPRENEURSHIP

8. 1. Entrepreneurship produces more jobs that equate to an increase in national income. 2. Entrepreneurship amplifies economic activities of different sectors of society. 3. Entrepreneurship introduces new and innovative products and services. 4. Entrepreneurship improves people’s living standards.

9. 5. Entrepreneurship disperses the economic power and creates equality. 6. Entrepreneurship controls the wealth and balances regional development. 7. Entrepreneurship reduces social conflicts and political unrest. 8. Entrepreneurship elicits economic independence and capital formation.

10. ENTREPRENEUR

11. Entrepreneur a unique individual who has the innate ability and extraordinary dedication to establish and manage a business, acknowledging all the risks and reaping its rewards the word “entrepreneur” has a French origin and was coined from the words entre , which means “between,” and prendre , which means “to take”

12. Entrepreneur one who always searches for changes, responds to it and exploits it as an opportunity - Peter Drucker

13. Entrepreneur one who innovates, raises money, assembles inputs, chooses managers and sets the organization going with his ability to identify them - Vasant Desai

14. FIVE LEVELS OF ENTREPRENEURIAL DEVELOPMENT

15. 1. The self-employed. 2. The manager. 3. The leader. not comfortable with the routines of desk job do not want a fixed working schedule want to do things in their own way need to step up and ask some help from the people around them delegate and hire potential employees to do the work enjoy seeing your people flourish, stepping up and producing great results with minimal supervision can sleep peacefully at night and have more freedom and time for themselves recognized key leaders in their organization focus on the big picture and strategic direction of their business rather than in generating sales and operating the business

16. 4. The investor. 5. The true entrepreneur. look for more opportunities for their business to grow may either purchase one or two businesses that can potentially add value to the company delegate a suitable manager for such operations and will act as directors. aim for quality and excellence in their work fully learned, and continue to practice, a four-step process of thinking 5.1. Idealization – dream enormously and desire to build an ideal environment 5.2. Visualization – start to create plan to make the dream a reality 5.3. Verbalization – involves sharing their ideas with other people 5.4. Materialization – happens when the vision becomes a reality

17. TECHNOPRENEUR SOCIAL ENTREPRENEUR is an entrepreneur who puts technology at the core of his or her business model one who takes advantage of the country’s social problems and turn them to profitable institutions with the intention of helping the disadvantaged community rather than making a profit

18. INTRAPRENEUR EXTRAPRENEUR is an entrepreneur of a large company or corporation who is tasked to think, establish, and run a new big idea or project one who hops from one company to another to act as the innovation champion, providing creative and efficient solutions

19. COMMON TRAITS

20. 1. Proactive 2. Agents of change address issues, problems, and challenges before they come rather than when they already happened ensure that proper research is done risk factors are assessed plans are executed on a timely and most efficient way see opportunities in hopeless and complex situations improve and develop new products and services 3. Risk takers take into consideration the potential various threats they may encounter calculate risks

21. 4. Have a sharp eye for opportunities 5. Sociable have a talent for recognizing an opportunity know how to assess the net cause and effect of an opportunity decide intelligently if a venture should be considered or not establish the relationship with the most important assets of the company relationship management is the key for employee and customer retention 6. Networkers knows the key people to connect with gain trust of their valuable network and maintain a long-lasting relationship with them

22. 7. Decisive 8. Balanced always have a decision about their business do not settle for gray areas or unclear solutions do not leave an issue unsolved base their decisions on scientific calculations backed up by their experience and technical knowledge minds have a balance between analytical and the creative side brains are always playing with “unique ideas” always have “Eureka!” moments 9. Innovative minds are rich of with big ideas that can add value to their existing business or could become a game changer in the industry do not stop improving and thinking of new and worthwhile ideas for their business

23. CORE TRAITS

24. 1. Leaders 2. Communicators must be a source of inspiration for their employees must be very humble, approachable, friendly know how to listen to people’s concerns use strengths and limitations to make the best of a situation must be decisive and know how to unite the team and bring out the best in every employee know how to use all forms of communication to effectively share ideas and address certain concerns with their customers and employees always be open to ensure the smooth flow of operations in their business

25. 3. Specialists 4. Problem solvers experts in their chosen business asked about the specifics of their product or service can easily answer without heavily relying on their people Understand the totality and specificity of their business can easily think of innovating and improving the product or service enjoy being in action instead of being behind the scenes possess critical thinking skills and look at problems as challenges or puzzles that they need to solve know how to handle issues in any area of the business able to solve problems by immersing themselves in day-to-day activities be aware of their employees’ personalities must have faith that every problem has a solution courageous and know how to face the consequences of decisions

26. ENTREPRENEURSHIP OR EMPLOYMENT?

27. 1. Income Income generated passively even when the entrepreneur is resting Opportunity income unlimited, depending on the success of the business Income only earned when the business is successful Income generated actively (i.e., on working hours only); no work = no pay Income usually fixed income per month and increases every year depending on the employer and employee’s performance Income earned whether the business is successful or not 2. Hiring and Firing, Organizational Setup, and Major Key Results Area Provides jobs; owner of the business and conducts the talent selection Fully responsible in serving customers, making the business profitable/sustainable, and providing employee satisfaction Has the power to disengage nonperforming employees applying the due process of disengaging personnel Can venture into expansion of business such as franchising and buying other similar businesses Seeks for a job; is the one applying for a job and is interviewed by the company’s hiring officers Has the goal of satisfying only the employer or the direct supervisor Fully dependent on the employer’s performance; is at risk of losing job if the company does not perform well; may find it difficult to just leave their below par employer if this is their only source of income Can only work for the current employer exclusively PROS AND CONS OF ENTREPRENEURSHIP VS. EMPLOYMENT IMPORTANT CAREER FACTORS ENTREPRENEUR EMPLOYEE

28. 3. Daily Tasks Performs all necessary variable tasks to establish and manage a startup business, which usually takes most of the entrepreneur’s time; spend more hours on work than a regular employee and sometimes gets no sleep Prepare policies, procedures, and memoranda for the business Has routine tasks and works on regular or normal hours Follows policies, procedures, and memoranda from the employer 4. Leisure Time Has a flexible schedule and can take unlimited number of vacation days (applicable only if the business has stabilized already) Has a limited number of vacation days imposed by the employer 5. Taxation Taxed on the net income; can claim taxable income deductions for allowable expenses incurred by the business Taxed on the gross income 6. Comfort Level at Work Is comfortable in doing multiple and challenging tasks and takes accountability with the risks and profits of the business; does not want to be confined in a box; thinks outside the box May be comfortable with routines and minimal risks, may also be comfortable in working for the company itself PROS AND CONS OF ENTREPRENEURSHIP VS. EMPLOYMENT IMPORTANT CAREER FACTORS ENTREPRENEUR EMPLOYEE

29. Careers in Entrepreneurship through Common Small Businesses in the Philippines

30. 1. Sari-sari store 2. Rice retailing more than one million sari-sari store in the Philippines one of the easiest businesses to set up due to minimal capital according to infographic presented by Rappler (2012) , Filipinos spend 20% or 20 centavos per every peso for rice an average Filipino consumed an average of 92 kilograms of rice from the 1980s to 1990s, 111 kgs from 2008 to 2009, and 119 kgs from 2009 to 2010 3. Food cart business present in every populous location located inside or outside the malls, schools, parks, train stations, and offices

31. 4. Printing business 5. Buy and sell business usually located near schools and offices everyone can technically be a seller even without an actual business 6. Street food business located in streets, selling almost the same food products being sold by the food cart business 7. Flea market business or tiangge set up a small space and sell any type of goods in a palengke setup that is normally in an open space customers are more interested to buy from these flea markets because they can bargain for the price

32. 8. Online selling business 9. Cellphone loading business deals with adding the internet as a marketing and transaction channel for business more than 95% of Filipinos are prepaid mobile phone users 80% of Filipino households have access to mobile phones 10. Laudry and dry cleaning business often located at central business districts and areas with several condominiums and townhouses. 11. Hair styling and make up business includes parlor and barber shops

33. 12. Spa, gym, nail care business 13. Video and photography business offers a range of massage treatments that can relax the stressed areas of the body Filipinos are now health-conscious manicure and pedicure requires talent in capturing precious moments of celebrators in weddings, birthdays, anniversaries, graduations and other important events 14. Tutorial business caters students who are not able to catch up with their lessons, or those who just want to be ahead in class composed of experts in a particular field

34. 15. Baking business 16. Website development and design/blogging pan de sal is the most common bread being offered by this business the Website developer conceptualizes and implements a website for another business whose objective is to inform, persuade and remind its customers become a source of income by most online writers a blog may become famous or successful if the site has a number of followers or readers people may earn cash by allowing companies to place ads on their blog 17. Direct selling business it is a face-to-face selling of products by a sales agent Products include fashion accessories, health and wellness items, clothing, food supplements, and homecare items

35. 18. Car wash and car care business 19. Bar, café, and restaurant demand of car care increases every year number of foodies (food enthusiasts) has increased Filpino consumers’ demand for variety and quality taste has evolved as well 20. Water station and LPG ( liquified petroleum gas) station continuously serve households use for daily consumption

36. No successful business started huge right away. A business starts with an idea. Once the business is established, the business owner, the entrepreneur, can choose to expand and explore franchising, intrapreneurship (managing a startup business in an established business) and acquisition (buying another similar business or a new business).

37. Careers in Entrepreneurship Professional

38. Small Business Owners and Franchise Managers. New Venture Developers. E-Commerce Entrepreneurs. Sales Managers, Marketing Managers and Sales Representatives. "Work at Home" Business Owners or “One-Person Firms” Business Consultants. Commercial Bankers.

39. Business Manager. ... Chief Executive Officer. ... Financial Manager. ... Public Relations Manager. ... Sales. ... Managing Director. ... Business Consultant.

40. ASSIGNMENT IN YOUR OWN NOTEBOOK LIST DOWN 5 PROBLEMS THAT YOU HAVE SEEN IN YOUR COMMUNITY OR IN SCHOOL. ( READY FOR NEXTWEEK ACTIVITY) BRING 4 MANILA PAPER AND 4 MARKER PER SECTION.