CHAPTER 1:

INTRODUCTION TO
ENTREPRENEURSHI
P
Objectives of the Lesson

• Define what is TOPIC:

Entrepreneurship and »Entrepreneurship
who are the 1.1Entrepreneurship contemporary views with
entrepreneurs their process and approach
• Recognize the
1.2 Definition of Entrepreneur and
importance of the Entrepreneurship
entrepreneurs
1.3 Entrepreneurial skills
• Identify the different risks
and rewards of 1.4 Socio- economic benefits from
entrepreneurship entrepreneurship

• Discuss the importance 1.5 Attributes, Qualities and characteristics of an

and impact of Entrepreneur
entrepreneurship in
Why do people become entrepreneur?WHY DO
PEOPLE BECOME ENTREPRENUERS
 WHY DO PEOPLE BECOME
ENTREPRENUERS
• To change the world
• They don’t want a boss
• They want flexible hours
• They want to work from anywhere
• They can’t get a job
• They don’t fit in the corporate environment
• They’re Curious
• They’re ambitious
WHAT IS ENTREPRENEURSHIP?

Entrepreneurship prefers to the economic activity of a person who

starts, manages, and assumes the risk of a business enterprise.
Entrepreneurship is the process of creating something different and
is also described as a dynamic process and an approach. The person
who undertakes entrepreneurial activities is called an entrepreneur.

Entrepreneurship is the act creating a business or business while

bearing all the risk with the hope of making a profit.
Origin and Nature of
• The term
Entrepreneurship “entrepreneurship”
originated in Europe
sometime in the Middle
ages.
• Coined from the word
“entrepredre” meaning “to
undertake”.
• “Entre” means to enter
• “pre” means before
• “neur” means nerve
 WHO IS AN ENTREPRENEUR?
An entrepreneur is an inventor and developer of ideas, change agent, creative,
persistent, and a class of his own, having his own value system. An entrepreneur is
someone who perceives an opportunity and creates an organization to pursue it.
Entrepreneur see possibilities and solutions where the average person sees only
annoyances and problems.
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• Think Creatively
• Enjoy Freedom and Flexibility
• Understand basic finance principles
• Ambitious and goal oriented
• Take self initiative
• Problem solvers
 ENTREPRENEUR VS ENTREPRENURSHIP
Entrepreneurs vs entrepreneurship may refer to the same category but have a lot
of differences. These both come under a business category. An entrepreneur is
someone who locates the need of society and tries to meet them with an
innovative idea. On the other hand, entrepreneurship refers to the process of
establishing a business entity, intending to get profit as a return in the future.
The easiest way to spot the differences between entrepreneur and
entrepreneurship is to imagine a salesperson and selling. Here are some distinctive
features of both.
Entrepreneurship
Entrepreneurs - Entrepreneurship is developing and operating the
- Entrepreneurs are those who set a goal and convert it business
to a business - Systematic and creative to run the business
- Someone who have new solutions for society by smoothly
running an enterprise - Pushes people to create and think unique products
- Create ideas and shape the business and services
- Someone who leads the team by providing guidance - Create a variety of professional networks
and direction - Strengthen interpersonal relationships with people
- A risk-taker, minimise the risk and looks forward to the - Motivate individuals and stay focus to run the
future organizations
- Has both risks and rewards of a business
 WHAT ARE THE 4 TYPES OF ENTREPRENUR

Entrepreneurs come in many forms, whether they yearn to be their own boss or disrupt the
status quo. Here are some common types of self-starters you might run into:

1. The inventor
This person wants to create the next big thing. They see the
big picture, imagine products or business ideas that don’t exist
yet, and work to bring them into reality.

2. The small business owner

Small business entrepreneurs employ less than 500 workers.
These people operate everything from small consultancies to
popular local restaurants. They understand the value of hard
work and leading a talented team of employees.
 WHAT ARE THE 4 TYPES OF
ENTREPRENUR
3. The online entrepreneur
Whether it’s a side hustle or a full-time job, these
entrepreneurs make the Internet work for them.
They might sell products on Etsy, maintain a
popular financial blog, or develop software to
distribute online. But no matter what, they have a
direct relationship with clients through their online
business.

4. The home business owner

These people use their homes as their home base.
A family plumbing business might use its home
garage to store equipment. On the other hand, an
artisan soap maker could use the basement as
their production line. These people make their
space work for them.
THE FILIPINO
ENTREPRENEUR
With the influence of western culture, having been
previously colonized by Spain who introduced trading
business, as well as having been colonized, too, by
the Americans, it can be expected that in the realm
of entrepreneurship, that Filipinos stand to duplicate
how its former colonizers really undertake its
business. It varies from colonizers due to its culture
and traditions and it is mostly engaged in small and
micro businesses.
 THE FILIPINO
ENTREPRENEUR
An entrepreneur who is likely to succeed in business possesses strengths as well as
weaknesses which spell the difference for the success or failure of the business.
Qualities which are considered as strength and weaknesses for an enterpreneur are the
following:

• Always sets his/her own realistic goals

• Self-reliant
• Focuses on positive objectives
• Periodically reviews performances
• Sets unrealistic goals
• Learns from own mistakes
• Depends on other people for attainment of goals
• Accepts changes and uses them when to motivate self
• Focuses on goals which call to stop or avoid doing things
• Takes care of himself/herself physically
• Does not keep track of progress
• Sticks to schedule
• Does not improve on areas where she/he failed
• Is self-motivated
• Is afraid of changes
• Is action oriented
• Is unmindful of physical appearance
• Manages backtracking
• Depends outside forces to be motivated
• Finishes work once started
• keeps on going back and forth on the same path
• Reflects on time management regularly
• Does not complete most often any given task
• Associates with other entrepreneurs; patterns, lifestyles, values and
• Is not conscious of time wasted
habits after successful entrepreneurs
• Does not develop the habit of working well with people
 ENTREPRENEURSHIP AND
PHILIPPINE EDUCATION
With the perennial problem on unemployment, a self-employment and livelihood opportunity for
every citizen is the cry of politicians and the unemployed. It is in fact the continuing dilemma on
the lack of job for everyone that entrepreneurship as self-employment option has become popular
in recent years.

There indications that entrepreneurship education is seeping into Philippines’ educational system
at the secondary level. In fact, some vocational courses/subjects and books at the secondary level
include chapters dealing with entrepreneurship.

More than just capitalizing or banking on entrepreneurship as a potential cure to solve

unemployment dilemma, the culture of entrepreneurship has been made a part of the curricular
offerings in some schools at the secondary level. Moreover, courses leading to specialization on
entrepreneurship or major area of study subsumed under the course leading to a degree in
business management or business administration
SOCIO-ECONOMIC
BENEFITS FROM
ENTREPRENEURSHIP
• Today, entrepreneurs play a major role as a provider of
employment for the entrepreneur himself and his immediate
environment. Entrepreneurs – and entrepreneurship culture as
well – are now regarded as a potent force and recognized sector
of the economy, and one that is to be relied upon, given its
number and the magnitude of contribution it provides to a
country, may it be a developing one or a developed country. Other
than the aforementioned broad impacts of entrepreneurship upon
the economy, it also brings the following socio-economic
benefits:
 SOCIO-ECONOMIC BENEFITS FROM

ENTREPRENEURSHIP

A. Promotes self-help and unemployment

．
A Mobilizes capital
．
B Provides taxes to the economy
．
C Empower individuals
．
D Enhance national identity and pride.
．
E Enhance competitive consciousness.
．
F Improves quality of life
．
G Enhances equitable distribution of income and
wealth.
Conclusion

Entrepreneurship can be viewed as recognizing change, pursuing opportunity, taking on

risk and responsibility, innovating, making better use of resources, creating new value that
is meaningful to customers, and doing it all over again and again.
Being an entrepreneur requires taking on significant responsibility and comes with
significant challenges and potential rewards.
Entrepreneurship is a mind-set, an attitude; it is taking a particular approach to doing
things.
The motivations for becoming an entrepreneur are diverse and can include the potential
for financial reward, the pursuit of personal values and interests, and the interest in social
change.

“ SUCCESS is not final. FAILURE is not fatal. It is the COURAGE to

Continue that counts .