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1. UNDERSTANDING THE CONCEPT OF ENTREPRENEURSHIP Sir tone rufo

2. LEARNING OBJECTIVES: Define entrepreneur and entrepreneurship. Discuss the relevance of the course. Discover the difference between entrepreneur and ordinary business individual

3. Let’s examine Identification . Read carefully the following statements and identify whether this refers to Entrepreneur or Entrepreneurship. Write ER if its Entrepreneur and ES if it refers to Entrepreneurship . Write the answer in your notebook.

4. 1. A person who undertakes the risk of starting a new business venture.

5. 2. It is high-risk, but also can be high-reward as it serves to generate economic wealth, growth, and innovation.

6. 3. Creates a firm, which aggregates capital and labor in order to produce goods or services for profit.

7. 4. It is an important driver of economic growth and innovation.

8. 5. Creates a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business.

9. A person who undertakes the risk of starting a new business venture. -ER

10. 2. It is high-risk, but also can be high-reward as it serves to generate economic wealth, growth, and innovation. - ES

11. 3. Creates a firm, which aggregates capital and labor in order to produce goods or services for profit. - ER

12. 4. It is an important driver of economic growth and innovation. - ES

13. 5. Creates a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business. - ER

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15. Concept of Entrepreneurship

16. entrepreneur From the French word entreprendre which means to “ to undertake ”. It connotes a business paradigm which signifies the start of a new business undertaking. A person who organizes, operates and assumes the risk of business ventures A person who strongly advocates and correctly practices the concepts and principles of entrepreneurship in operating and managing the self-owned business enterprise.

17. entrepreneurship Is an 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

18. The relevance of entrepreneurship to SHS students Importance of Entrepreneurship Entrepreneurship generates new wealth in an economy. Entrepreneurship decreases poverty. It creates opportunities, ensures social justice, instills confidence and stimulates the economy. Entrepreneurship improves productivity. Entrepreneurs create jobs. Entrepreneurs innovate. Entrepreneurs create innovation and social change.

19. Relevance of Entrepreneurship to SHS Students To prepare students for livelihood even before college. Entrepreneurship education aids students from all socioeconomic backgrounds to think outside the box and nurture unconventional talents and skills. Entrepreneurship develops their initiative and helps them to be more creative and self-confident in whatever they undertake and to act in a socially responsible way. It exposes students to numerous opportunities to learn how to think critically and analyze the pieces on the board.

20. Relevance of Entrepreneurship to SHS Students Being aware of all the important factors and seeing how they affect each other is the foundation of a smart decision-making process. Students have to be exposed to real-world examples and learn from their own experience. Entrepreneurship education requires students to be innovative, creative and collaborative with others. Entrepreneurship education provides budding entrepreneurs with the skills and knowledge to come up with business ideas and develop their own ventures.

21. Parameter Entrepreneur Business Individual A creative individual that introduces new ideas to run the business An individual that follows the existing ideas Nature Innovative Traditional Goal Customer oriented Profit oriented Risk margin High, the higher the better Low, the lower the better Market position Market leader Market player Orientation Opportunity oriented Resources oriented

22. Lets have an activity! Identify the entrepreneurs who founded the following companies:

23. Tony Tan Caktiong Mariano Que Corazon D. Ong Cecilio Pedro Ernesto L. Cu Henry Sy Socorro Ramos Henry Sy

24. Tony Tan Caktiong Mariano Que Corazon D. Ong Cecilio Pedro Ernesto L. Cu Henry Sy Socorro Ramos Corazon D. Ong

25. Tony Tan Caktiong Mariano Que Corazon D. Ong Cecilio Pedro Ernesto L. Cu Henry Sy Socorro Ramos Socorro Ramos

26. Tony Tan Caktiong Mariano Que Corazon D. Ong Cecilio Pedro Ernesto L. Cu Henry Sy Socorro Ramos Mariano Que

27. Tony Tan Caktiong Mariano Que Corazon D. Ong Cecilio Pedro Ernesto L. Cu Henry Sy Socorro Ramos Cecilio Pedro

28. Tony Tan Caktiong Mariano Que Corazon D. Ong Cecilio Pedro Ernesto L. Cu Henry Sy Socorro Ramos Ernesto L. Cu

29. Tony Tan Caktiong Mariano Que Corazon D. Ong Cecilio Pedro Ernesto L. Cu Henry Sy Socorro Ramos Tony Tan Caktiong

30. qualities of entrepreneurs: a self-assessment Find out if you are the sort of person that could set up and operate a business .

31. 1. Am I a planner, creamer, or a goal setter?

32. 2. Do I offer a product that people want to buy?

33. 3. Do I have enough resources to start my business?

34. 4. Will my business plan allow cash flow as soon as possible?

35. 5. Am I working around a tight budget for my expenses?

36. 6. Do I have good credit status?

37. 7. Am I expecting too much from my revenues as a result of my hard work?

38. 8. Am I ready to assess and measure evrything before putting it out for the Public?

39. 9. Do I have strong people skills?

40. 10. Do I enjoy making decisions and being in charge?

41. 11. Am I good at short-range and long-range planning?

42. 12. Am I willing to take initiative when confronted with difficult situations?

43. 13. Am I flexible, and can adapt to changing circumstance?

44. 14. Am I willing to take calculated risks?

45. 15. Am I ready to learn and accept the mistakes that I might encounter along the way?

46. “ If you can dream it, you can do it”. – Walt Disney Words to ponder