CHAPTER-1-INTRO (1).pdf Practical research 2

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1. INTRODUCTION TO
ENTREPRENEURSHIP
ENTREP

2. SHARE IT!
What comes to your
mind when you hear the
word,
“ENTREPRENEURSHIP?”

3. ENTREPRENEURSHIP: DEFINED
It is the maximization of
available resources in the
community and transform these
into either products/services.

4. THE ENTREPRENEUR’S TASK
The entrepreneur is responsible for
assembling the resources consisting
of land, labor, and capital for the
purpose of producing goods and
services and deciding on the rate of
output his venture must produce.

5. ENTREPRENEURSHIP CONCEPT
▪The word “entrepreneur” was derived from the French
verb entreprendre, which means “to undertake.” This
is pinpointing to those who “undertake” the risk of
enterprise. The enterprise is created by an
entrepreneur and the process is called
“Entrepreneurship.”
▪Entrepreneurs are innovators. They are willing to take
the risks and generate unique ideas that can provide
profitable solutions to the needs of the market and the
society.

6. INNOVATION
Innovation is an important aspect of
entrepreneurship. It is defined as the introduction of
a new method, procedure, custom, device, among
others. It is also linking or connecting to the needs of
the community; looking into the different
aspects/dimensions of providing the unlimited needs
of the growing population. This may either be basic
commodities, services or creative outputs.

7. RELEVANCE OF
ENTREPRENEURSHIP
ENTREP

8. SHARE IT!
What is the
significance of
studying
entrepreneurship?

9. BENEFITS OF ENTREPRENEURSHIP TO SHS
STUDENTS
•Assess feasibility of ideas
•Manage risk
•Identify legitimate sources of capital
•Evaluate ownership structures
•Translate problems into opportunities
•Apply principles of human relations management
•Speak “business” and “entrepreneurship”
•Apply basic accounting principles
•Demonstrate financial management

10. BENEFITS OF ENTREPRENEURSHIP TO SHS
STUDENTS
•Creation of entrepreneurial thinkers who also
have the skills and tools to start their own
businesses
•Write a business plan
•Apply economic principles
•Determine individual entrepreneurial interest
•Apply basic marketing skills
•Use strategies for idea generation

11. RELEVANCE OF ENTREPRENEURSHIP TO AN
ORGANIZATION
➢ Developing of managerial capabilities
➢ Creation of organizations
➢ Improving standard of living
➢ Means of economic development

12. IMPORTANCE OF ENTREPRENEURSHIP
➢Entrepreneurship is a key driver of our
economy.
➢Wealth and a high majority of jobs are
created by entrepreneurially minded
individuals, many of whom go on to
create big businesses.

13. MY TAKEAWAYS!
What are your key
takeaways from
today’s lesson?

14. CAREER OPPORTUNITIES IN
ENTREPRENEURSHIP
ENTREP

15. ANONG SAY MO?
What do you think are
the career
opportunities in
entrepreneurship?
Is it exclusive to the
corporate or business
world?

16. CAREER OPPORTUNITIES FOR
ENTREPRENEURSHIP
•BUSINESS CONSULTANT
•SALES MANAGER
•RESEARCH AND DEVELOPMENT
•TEACHER
•RECRUITER
•BUSINESS REPORTER

17. PERSONAL ENTREPRENEURIAL
COMPETENCIES
ENTREP

18. GUESS THE WORD
APPLE TUNETY CAR
OPPORTUNITY-SEEKER
GUESS THE GIBBERISH

19. GUESS THE WORD
COMB ME TIRED
COMMITED
GUESS THE GIBBERISH

20. GUESS THE WORD
FRESH SEA TEN
PERSISTENT
GUESS THE GIBBERISH

21. GUESS THE WORD
RICH TIE CAR
RISK TAKER
GUESS THE GIBBERISH

22. GUESS THE WORD
EWW PAY SCENT
EFFICIENT
GUESS THE GIBBERISH

23. GUESS THE WORD
QUAIL EAT OR YEN TIED
QUALITY ORIENTED
GUESS THE GIBBERISH

24. GUESS THE WORD
GO SET THOR
GOAL SETTER
GUESS THE GIBBERISH

25. GUESS THE WORD
FLY NEAR
PLANNER
GUESS THE GIBBERISH

26. GUESS THE WORD
PIE SWEAR SIB
PERSUASIVE
GUESS THE GIBBERISH

27. GUESS THE WORD
QUEEN FINE DANCE
CONFIDENT
GUESS THE GIBBERISH

28. GUESS THE WORD
INN FOUR MANSION SIS
CARE
INFORMATION SEEKER
GUESS THE GIBBERISH

29. PERSONAL ENTREPRENEURIAL
COMPETENCIES
Based on studies conducted by the Small Enterprise
Research and Development Foundation (SERDF) of
the Department of Trade and Industry (DTI), there are
TEN entrepreneurial chracteristics grouped into
THREE major cluster.
1. Achievement Cluster
2. Planning Cluster
3. Power Cluster

30. ACHIEVEMENT CLUSTER
This cluster consists of entrepreneurial character traits that
are directly related to entrepreneur’s desire to be an
achiever in the field of entrepreneurship.
The entrepreneur who belongs to the achievement cluster
is:
1.An Opportunity-seeker
2.Committed
3.Persistent
4.A risk-taker
5.Efficient and Quality-oriented

31. PLANNING CLUSTER
This cluster basically supports the character traits in the
achievement cluster. The plan serves as the blueprint of
the actions to be undertaken by the entrepreneur.
The entrepreneur who belongs to the planning cluster is:
1.A goal-setter
2.An information-seeker
3.Systematic in planning and monitoring

32. POWER CLUSTER
This cluster refers to the relationship and image of the
entrepreneur in the community.
The entrepreneur who belongs to the power cluster is:
1.A persuasive and positive networker
2.Self-confident

33. THINK OF IT!
Why do you think it is important to have
these traits and competencies as an
entrepreneur? Are these traits and
competencies only important to
entrepreneurs?
Do you consider it essential that you have
these traits and competencies? Why or
why not?

34. CORE COMPETENCIES IN
ENTREPRENEURSHIP
1.Economic and dynamic activity
2.Innovation
3.Profit potential
4.Risk Bearing

35. ENTREPRENEURIAL
SKILLS
ENTREP

36. ENTREPRENEURIAL SKILLS
These refer to the set of cognitive,
technical, and interpersonal skills
required in the practice of
entrepreneurship.

37. COGNITIVE SKILLS
Mental ability of the entrepreneur to learn new things,
generate new ideas, and express knowledge in both oral
and written forms.
The cognitive skills of an entrepreneur include the following:
1.Ability to understand written materials
2.Ability to learn and apply new information
3.Ability to solve problems systematically
4.Ability to create new ideas
5.Ability to innovate new products and procedures or
methods.

38. TECHNICAL SKILLS
These skills relate to their knowledge and proficiency in a
specialized field like computer technology, accounting,
marketing, operations research, engineering, medical fields or
other technical related skills.
Technical skills of an entrepreneur include proficiency and
ability, in the following areas:
1.Information Technology
2.Feasibility study and business plan preparation
3.Technical writing skills
4.Marketing
5.Management and Finance

39. INTERPERSONAL SKILLS
These skills are about the relationship and interaction of
the entrepreneur with the workers, suppliers, creditors,
prospective customers, and other members of the
business community.
Interpersonal Skills include the following:
1.Skills in verbal communication
2.Skills in non-verbal communication
3.Skills in listening
4.Skills in leading
5.Skills in negotiating.

40. TYPES OF
ENTREPRENEURS
ENTREP

41. TYPES OF ENTREPRENEURS
•INNOVATIVE ENTREPRENEURS
These entrepreneurs have the ability to think
newer, better and more economical ideas of business
organization and management. They are business
leaders and contributors to the economic
development of a country.

42. Example
Technology companies triggering a paradigm
shift by impacting industries
A.Apple – changed music and consumer
electronics
B.Uber– changing the taxi business
C.Airbnb – changing the accommodation
industry
D.Amazon– changing retailing

43. TYPES OF ENTREPRENEURS
•IMITATING ENTREPRENEURS
These entrepreneurs are people who follow the
path shown by innovative entrepreneurs. They imitate
innovative entrepreneurs because the environment in
which they operate is such that it does not permit
them to have creative and innovative ideas on their
own.

44. TYPES OF ENTREPRENEURS
•FABIAN ENTREPRENEURS
These type of entrepreneurs are skeptical about
the changes to be made in the organization. They do
not initiate any inventions but follow only after they
are satisfied with its success rate. They wait for some
time before the innovation becomes well tested by
others and do not result in a huge loss due to its
failure.

45. TYPES OF ENTREPRENEURS
•FABIAN ENTREPRENEURS
A notable example of Fabian entrepreneurship
isKodak Company, which doesn’t need any sort of
introduction. They were once a top brand for
manufacturing analog cameras. However, they didn’t
adopt modern technologies nor make any notable
modifications to their products. The company was too late
to introduce digital cameras as other brands used this
opportunity. Many other companies with a similar
approach, including Panasonic, lost their position due to
this form of entrepreneurship.

46. TYPES OF ENTREPRENEURS
FABIAN ENTREPRENEURS
These entrepreneurs have the following
characteristics:
•Accept and stick to traditional methods.
•Work for a family-owned business.
•Careful.
•Display risk-aversion.
•A clear, strict, and basic strategy.

47. TYPES OF ENTREPRENEURS
•DRONE ETREPRENEURS
Drone is “a person who lives in the labor of others.”
Drone entrepreneurs are those individuals who are
satisfied with the existing mode and speed of
business activity and show no inclination in gaining
market leadership. In other words, drone
entrepreneurs are die-hard conservatives even
ready to suffer the loss of business.

48. TYPES OF ENTREPRENEURS
•SOCIAL ENTREPRENEURS
Social entrepreneurs drive social innovation and
transformation in various fields including education,
health, human rights, workers’ rights, environment
and enterprise development.

49. SHARE IT!
What type of entrepreneur would you
want to be in the future?
What inspired you to pursue this type
of entrepreneur, and what influence do
you want to make through your
entrepreneurial endeavors?

50. End of Slide.
THANK YOU