ENTREP 12 WEEK 1Entrepreneurship is the process of starting, managing, and growing a business. It involves taking risks, combining skills and vision, and using innovation to create value for customers. .pptx

Entrepreneurship is the process of starting, managing, and growing a business. It involves taking risks, combining skills and vision, and using innovation to create value for customers.

1. Introduction to Entrepreneurship

2. Entrepreneurship Entrepreneur

3. Goals of This Module It outlines the concepts and basic principles, and processes of developing business plan. It helps you understand the environment and market in your locality as a factor in developing a business concept. It allows you to experience starting and operating your own business.

4. Guide Questions: 1. What characteristics can you observe or see that are common among the entrepreneurs that you have listed? 2. Who among the entrepreneurs in the video do you admire the most and why? 3. In your own opinion, what do you need to possess to become a successful entrepreneur?

5. CONCEPT OF ENTREPRENEURSHIP The word “ entrepreneur” was derived from the French verb enterprendre , 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

6. RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION 1. Development of Managerial Capabilities - this means that one of the benefits an entrepreneur gets is to develop his managerial skills. 2. Creation of Organizations - which means that because of entrepreneurship many organizations will exist.

7. RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION 3. Improving Standard of Living - this means that entrepreneurship can lift up the economic status of an individual. 4. Means of Economic Development - this means that not only the life of the entrepreneur is improved but also the society where the business is located.

8. FACTORS AFFECTING ENTREPRENEURSHIP 1. Personality Factors which include: a. Initiative - doing things even before being told. b. Proactive - which means he can classify opportunities and seize it. c. Problem Solver - which means he can retain good relations with other people. d. Perseverance - meaning he will pursue things to get done regardless of challenges.

9. FACTORS AFFECTING ENTREPRENEURSHIP e. Persuasion - means that he can entice people to buy even if they don’t want to. f. A Planner - he makes plans before doing things and does not fail to monitor it. g. Risk-taker - which means that he is willing to gamble but he will calculate it first.

10. FACTORS AFFECTING ENTREPRENEURSHIP 2. Environmental Factors which include political, climate, legal system, economic and social conditions and market situations.

11. SELF- CHECK Direction: Find out if you have the personality of an entrepreneur. Put a check mark on the column that identifies whether you have the personality of an entrepreneur or not. Provide reason/evidence in each of your answer.

12. Personality YES NO REASON Initiative       Proactive       Problem Solver       Perseverance       Persuasion       A Planner       Risk-taker      

13. COMMUNITY REPORT Direction: Make a short report or discussion about your community/market situations and the environmental factors affecting Entrepreneurship, if any. Write your answer in your notebook.

14. MULTIPLE CHOICE. 1. Which of the following is NOT a personality factor affecting entrepreneurship? Initiative Risk-taker Market saturation Perseverance

15. 2. How does being proactive benefit an entrepreneur? It allows them to wait for opportunities to come to them. It enables them to identify and act on opportunities quickly. It reduces the need for planning. It ensures they avoid all risks

16. 3. Which of the following statements best reflects the essence of an entrepreneur's risk-taking behavior? Entrepreneurs avoid risks at all costs. Entrepreneurs take uncalculated risks without planning. Entrepreneurs assess and manage risks to seize opportunities. Entrepreneurs only take risks when they are guaranteed success.

17. 4. How does entrepreneurship contribute to improving the standard of living? A. By solely focusing on profit maximization. B. By creating products that are only accessible to the wealthy. C. By providing jobs and enhancing economic conditions for individuals. D. By limiting the availability of goods and services.

18. 5. What does the term "entrepreneurship" imply in the context of economic development? A. It only benefits the entrepreneur without impacting society. B. It fosters community growth and improves local economies. C. It is irrelevant to societal changes. D. It focuses only on technological advancement

19. Environmental Factors Influencing Entrepreneurship Political conditions can impact business regulations. Economic climate affects consumer spending and investment. Social conditions influence market demand and trends.

20. Entrepreneurship as a Career Path Entrepreneurship offers independence and flexibility. It allows for personal and professional growth. Entrepreneurs can make a significant impact on their communities.

21. Challenges Faced by Entrepreneurs Financial constraints can limit business growth. Market competition poses risks to sustainability. Entrepreneurs must navigate regulatory hurdles.

22. Strategies for Success Develop a solid business plan and strategy. Build a strong network of support and resources. Stay adaptable and open to feedback and change.

23. Case Studies of Successful Entrepreneurs Analyze real-world examples of successful entrepreneurs. Learn from their experiences and strategies. Discuss how they overcame challenges to achieve success.

24. Engaging with the Community Entrepreneurs can strengthen community ties through local initiatives. Supporting local businesses fosters economic growth. Discuss ways to engage with your community as an entrepreneur.

25. Future of Entrepreneurship Explore emerging trends in entrepreneurship. Discuss the impact of technology on business development. Consider the role of sustainability in future business practices.

26. Conclusion and Reflection Reflect on what you have learned about entrepreneurship. Consider how you can apply these concepts in your own life. Discuss your aspirations as a future entrepreneur.