introductiontoentrepreneurship-191120074307.pptx

education

1. ENTREPRENEURSHIP SHS Grade 12 BY: J O S H U A S . M A N T I L E SHS –TEACHER I T I B L A C N A T I ONAL HIGH SCHOOL

2. Content Relevance of the course Key concepts and common competencies Core competency in Entrepreneurship Career opportunities

3. Objective Discuss the relevance of entrepreneurship in general, including its economic importance. Define who is entrepreneur Explain the key concepts of common and core competencies of entrepreneurship. Delineate clearly between entrepreneurship and employment Explore opportunities for entrepreneurship as a career. At the end of this lesson the learners can:

4. ENTREPRENEURSHIP Is a proactive of developing a business venture to make a profit. It involves seeking opportunities for a market, establishing and operating a business out of opportunity, and assessing its risk and rewards through close monitoring of the operations.

5. Economic Benefits of Entrepreneurship in Society

6. Entrepreneurship produces more jobs that equate to an increase in national income. Millions of unemployed people will have opportunities to have a decent occupation. Small businesses produce jobs and create wealth . Economic Benefits of Entrepreneurship in society:

7. Economic Benefits of Entrepreneurship in society: Entrepreneurship amplifies economic activities of different sectors of society. A simple eatery in a rural area and a coffee shop in an urban area both ignite economic activity regardless of their business scale.

8. Economic Benefits of Entrepreneurship in society: Entrepreneurship introduces new and innovative products and services New products and services are always available in the market because of the ingenuity of entrepreneurs to seek opportunities and improve on them.

9. Economic Benefits of Entrepreneurship in society: Entrepreneurship improves people’s living standards. How can you look good if not for the services of your nearby salon or barber shop? How can you live without the sari-sari store near your house where you buy basic needs?

10. Economic Benefits of Entrepreneurship in society: Entrepreneurship disperses the economic power and creates equality. It balances the economy by distributing national income to more business rather than to only few monopolies.

11. Economic Benefits of Entrepreneurship in society: Entrepreneurship controls the local wealth and balances regional development. It make sure local resources are used properly and that every area has an appropriate allocation of resources

12. Economic Benefits of Entrepreneurship in society: Entrepreneurship reduces social conflicts and political unrest. Imagine if there are no or only few sari-sari store or supermarket stores in your area. All of you will then fight for the food supplies because the store cannot supply all your needs.

13. Economic Benefits of Entrepreneurship in society: Entrepreneurship elicits economic independence and capital formation. A country with more entrepreneurs is highly likely to become financially independent and will less likely need the help of other countries. This also applies to families, barangays, and cities. Entrepreneurship creates wealth instead of borrowing wealth.

14. Who is the Entrepreneur?

15. Who is the Entrepreneur ? The word “ Entrepreneur ” has a French origin and was coined from the words entre, which means “ between” , and pendre , which means “ to take”

16. An Entrepreneur Is 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. Will only expect returns once he or she already added or created value out of an opportunity.

17. An Entrepreneur One’s natural talent is being perceptive for opportunities in his or her surroundings that normal people don’t give importance to or often neglect. Leadership is the core of every entrepreneur.

18. 5 Levels of Entrepreneurial Development: The Self - employed They want to do things in their own way and start to feel agitated when controlled by the powers- that – be.

19. 5 Levels of Entrepreneurial Development: The Manager Entrepreneurs in this level feel the need to step up and ask some help from others. They delegate and hire potential employees to do the work.

20. 5 Levels of Entrepreneurial Development: The Leader This level already enjoy seeing people flourish, stepping up and producing great results with minimal supervision. They now focus on the big picture and strategic direction of their business rather than in generating sales and operating the business.

21. 5 Levels of Entrepreneurial Development: The Investor They look for more opportunities for their business to grow. They will delegate a suitable manager for such operations and will act as directors. When this become successful, they will now become true entrepreneur Ex. Tony Caktiong founder of Jollibee.

22. 5 Levels of Entrepreneurial Development: The True Entrepreneur Aim for quality and excellence of their work. They have fully learned, and continue to practice, a four step process thinking starting with: Idealization Visualization Verbalization Materialization

23. A FOUR STEP PROCESS THINKING OF ENTREPRENEUR Idealization Entrepreneurs dream enormously and desire to build an ideal environment. Visualization Starts to create plans to make the dream a reality.

24. A FOUR STEP PROCESS THINKING OF ENTREPRENEUR Verbalization Involves sharing their ideas with other people, knowing that their vision is already occurring. Materialization Happens win the vision becomes reality. True entrepreneur Have an income that keeps on multiplying even if they do not put much effort.

25. OTHER TERMS TO DESCRIBE AN ENTREPRENEUR TECHNOPRENEUR An entrepreneur who puts technology at the core of his or her business model. SOCIAL ENTREPRENEUR One who takes advantage of the country’s social problems and turn them to profitable institutions with the intention of helping the disadvantage community rather than making a profit.

26. OTHER TERMS TO DESCRIBE AN ENTREPRENEUR INTRAPRENEUR An entrepreneur in a large company or corporation who is tasked to think, establish, and run a new big idea or project. Usually the product managers or the business development managers of a company. EXTRAPRENEUR Who hops from one company to another to act as the innovation champion, providing and efficient solutions.

27. OTHER TERMS TO DESCRIBE AN ENTREPRENEUR INTRAPRENEUR An entrepreneur in a large company or corporation who is tasked to think, establish, and run a new big idea or project. Usually the product managers or the business development managers of a company. EXTRAPRENEUR Who hops from one company to another to act as the innovation champion, providing and efficient solutions.

28. COMMON TRAITS THAT ENTREPRENEURS SHOULD ALWAYS HAVE

29. COMMON TRAITS THAT ENTREPRENEURS SHOULD ALWAYS HAVE PROACTIVE They ensure that proper research is done, the risk factors are assessed, and plans are executed on a timely and most efficient way. AGENTS OF CHANGE They are always enthused to improve and develop new products and services and introduce them to the market. RISK TAKERS They have take consideration the potential various threats they may encounter, and if there is a big chance of succeeding, they push through with the venture and don’t let the opportunity pass.

30. COMMON TRAITS THAT ENTREPRENEURS SHOULD ALWAYS HAVE HAVE A SHARP EYE FOR OPPORTUNITY They know how to assess the net cause and effect of an opportunity and decide intelligently if a venture should be considered or not. SOCIABLE Relationship management is the key for employee and customer retention, which can be achieved by a sociable entrepreneur. NETWORKERS Knows the key people to connect with.

31. COMMON TRAITS THAT ENTREPRENEURS SHOULD ALWAYS HAVE DECISIVE They do not leave an issue unsolved without disposition. They make sure that all aspects of their business have clear objectives and strategies. They base their decisions on scientific calculations backed up by their experience and technical knowledge.

32. COMMON TRAITS THAT ENTREPRENEURS SHOULD ALWAYS HAVE BALANCED They balance between analytical and the creative side Always playing with “unique ideas” that no one has ever thougth of yet. Always have “EUREKA” moments and enjoy time. ( Eureka moment definition is - a moment of sudden, triumphant discovery, inspiration, or insight .) INNOVATIVE Do not stop improving and thinking of new and worthwhile ideas for their business.

33. CORE TRAITS THAT ENTREPRENEURS SHOULD DEVELOP IN MANAGING AND RUNNING THE BUSINESS

34. CORE TRAITS THAT ENTREPRENEURS SHOULD DEVELOP IN MANAGING AND RUNNING THE BUSINESS LEADERS They must be a source of inspiration for their employees. Act on their responsibilities that were given to them. Use their strengths and limitations to make the best of a situation. D ecisive and know ho to own up their decision Know how to unite the team and bring out the best in every employee.

35. CORE TRAITS THAT ENTREPRENEURS SHOULD DEVELOP IN MANAGING AND RUNNING THE BUSINESS COMMUNICATORS Know how to use all forms of communication to effectively share ideas and address certain concerns with their customers of employees. SPECIALIST Tactical and are very keen with details Can easily answer about their product without relying on their people. Innovating and improving the product or service offerings because they know their intricacies. Being in action instead of being behind the scenes.

36. CORE TRAITS THAT ENTREPRENEURS SHOULD DEVELOP IN MANAGING AND RUNNING THE BUSINESS PROBLEM SOLVERS Possess critical thinking skill and look at problems as challenge or puzzle that they need to solve. Know how to handle issues in any areas of the business. Have faith that every problem has a solution no matter how hard it is. Courageous and know how to face consequences of their decisions.

37. Pros and Cons of Entrepreneurship vs. Employment

38. IMPORTANT CAREER ENTREPRENEUR FACTORS EMPLOYEE 1. Income Income generated passively even when the entrepreneur is resting Opportunity income unlimited Income only entered when the business is successful Income generated actively ( i.e.,on working hours only; no work- no pay) Income usually fixed per month and increases every year depending on the employer and the employee’s performance Income earned whether the business is successful or unsuccessful 2. Hiring and Firing, Organizational Setup, and Major Key Results Areas Provides jobs Fully responsible for serving customers, making the business profitable/sustainable, and providing employee satisfaction Has the power to disengage nonperforming employees applying the due process policy of disengaging personnel Can venture to expansion such as franchising and buying other similar businesses. Seeks for a job. Has the goal of satisfying only the employer or the direct supervisor Fully dependent on the employer’s performance; is at risk of losing his her job if the company does not perform well Can only work for the current employer exclusively

39. IMPORTANT CAREER FACTORS ENTREPRENEUR EMPLOYEE 3. Daily Task Performs all necessary variable task to establish and manage a startup business; spend more hours on work than a regular employee and sometimes gets no sleep Prepares policies, procedures, and memoranda for businesses. Has routine tasks and works on regular or normal hours Follows policies, procedures and memoranda from the employer 4. Leisure Time and Vacations Has a flexible schedule and can take unlimited number of vacation days (applicable only if the business has stabilized already) Has limited number of vacation days imposed by the employer Pros and Cons of Entrepreneurship vs. Employment

40. CAREER IN ENTREPRENEURSHIP

41. CAREER IN ENTREPRENEURSHIP Entrepreneurship consist of vast career options depending on the passion and field of interest of the entrepreneur. The saying “ When you love what you do, it’s as you are not working” is very much applicable to entrepreneurs who consider managing their business as enjoyment rather than working exhaustively.

42. SOME OF THE MOST COMMON SMALL BUSINESS IN THE PHILIPPINES Sari-sari Store Rice retailing Cellphone loading business Bakeries Food cart business Flea markets or tiangge Online selling business

43. CAREER IN ENTREPRENEURSHIP No successful business started huge right away. A business starts with idea. Once the business is establish, the business owner, the entrepreneur, can choose to franchising, intrapreneurship and acquisition.

44. FRANCHISING Is a business arrangement wherein the franchisor acquires distribution centers through the franchises or the affiliated dealers. Franchisor , the one who is the owner of the business CAREER IN ENTREPRENEURSHIP

45. INTRAPRENEURSHIP Managing a startup business in an established business CAREER IN ENTREPRENEURSHIP ACQUISITION Buying another similar business or a new business.

46. Entrepreneur Philippines’ franchise business options in the Philippines FRANCHISE OR STARTUP BUSINESS Bakeries , bakeshops and bread product Bars , cafes and coffee shops Beverage and confectionery Car care Clothing and Accessories Convenience Store Drug Stores and Pharmacies Fast food establishments and restaurant Food and snack carts Gas stations/ petroleum products General Merchandise and retails Health and wellness (salon, massage, spa and gym Schools Services (personal and business) Water Stations

47. Other Additional Business Opportunities Dealership Direct Selling Distributorship

48. Essay: What are the three business that you think will be most successful at? Why do you say so?

49. TASK: Choose three (3) successful entrepreneurs from different fields that you know of and are engaged in common small and franchise businesses enumerated previously. Your goal is to understand the mindset of established entrepreneurs by playing the role of an interviewer. Ask these three chosen entrepreneurs the following questions using the interview method of research: Go To Next Slide Please

50. TASK: What motivated you to become an entrepreneur? What do you think are your characteristics and competencies that made you a successful entrepreneur? Aside from the business that you have, what other businesses are you interested in? What do you think of being employed? Why didn’t you choose that path? Who are your top three entrepreneur role models? Why do you want to be like them? How much do you love your job? Bear in mind the critical factors that led to the success of these entrepreneurs. You will be graded based on the completeness, accuracy, and presentation of your interview results.

51. Reference: Diwa Senior High School Series: Entrepreneurship