The concept of
entrepreneurshi
p
LESSON 1
ENTREPRENEURSHIP
• It is defined as the process of creating
something new, whether a product or
service that brings value by devoting
the necessary time and effort to
considering the financial, physics,
and social risk, and receiving the
resulting rewards of monetary and
personal satisfaction and
independence.
HOW TO BE AN
ENTREPRENEUR?
• To be an entrepreneur or a
businessman means someone has
to be able to create something
new that offer value to its chosen
market to be able to get
something in return and convert
it into a profitable business.
HOW ARE PRODUCTS
CREATED?
Through the birth of an idea,
products are created, which is then
turned into either a physical
product or non-physical product.
What is one of the great things
about being an entrepreneur?
One great thing about being an entrepreneur
is that the rewards are great to those ready
to take the challenge.
BUT ...
there are lot of factors that business will fail.
WHO IS AN
ENTREPRENEUR?
•An entrepreneur is an individual who
plans, organizes, and operates a
business and business, taking more
than financial risk.
• He is someone who creates or looks
for ideas for business.
• Another element that is important in
becoming an entrepreneur is
passion.
ENTREPRENEURIAL
COMPETENCIES
• Refers to the fundamental characteristics
and traits possessed by successful
entrepreneur that made them succeed in
their chosen enterprises.
-McClelland and McBer (1985)-
[Link]
VE
• Entrepreneurs should take the
initiative to learn about the
industries to which they belong.
• An entrepreneur always look for
new and better ways of doing
things.
2. sees and acts on the
opportunity
• Always look at the industry
trends, anticipate needs of
customers, even new
technologies that will help
them give value to the
customers.
3. persistence
• The entrepreneur’s main job when it
comes to competition is to be able to
persist in aiming and taking action for the
firm’s growth by getting the most number
of customers.
• For example, come out new products
every 3 months
4. information seeking
• Access to information has never
been easy as today. In fact, there
is so much information and use it
to the company’s advantage and
create better products and
services for the customers.
5. Commitment to work
contract• An entrepreneur should
always have in mind that
company’s reputation
builds by delivering great
products and services to
customer.
6. concern for work
quality
• The entrepreneur should
always strive to improving and
enhancing the products or
services in order to deliver the
best work for its customers.
7. efficiency orientation
• An entrepreneur must always find way of
doing things more efficiently and
effectively, with fewer resources and at
a lower cost as possible.
• Start-up companies normally have lesser
financial resources therefore it is very
important for them to understand their
situation and be able to deliver great
products with the resources available.
8. systematic planning
• “Failing to planning to fall”
there are lot individuals that
started businesses and just
closed shop after few months
because of lack of careful and
systematic planning.
9. problem solving
• The challenge of thinking what to
do in tough times is in the hands
of the entrepreneur.
• Means every problems solved
makes the entrepreneur more
knowledgeable and prepared for
the next challenges.
10. self-confidence
• Who would like to do business
with a person who is not
confident about his or herself, or
the products or services that he
or she sells.
• To become a successful
entrepreneur, one has to have a
strong belief in self and own
abilities.
11. assertiveness
• As stated, problems are inevitable and
therefore the only way to avoid more
problems is to face and solve the existing
ones. As an entrepreneur, you must have
the courage in looking for solutions, and
find for resources, and even people who
can help in those tough times.
12. persuation
• Great entrepreneurs are great
salespeople. Find resources is
touch task that requires guts in
providing oneself that a certain
business will work and grow in
order to get approval for loans.
13. use of influence
strategies
• Developing a great relationship with other
businesspeople is a very important task
for an entrepreneur. Collaboration is one
great way of expanding a business and
great networkers as sure-fire of becoming
a success in a business. As an
entrepreneur, one must learn to work with
influential people to reach business.
Characteristic
of
entrepreneurshi
LESSON 2
p
[Link]
A success businessman is motivated to make
something out of himself. He knows what he
wants, and he is setting for achieving it.
Often his desire to do something can be
daunting and drive to create himself can be
very consuming.
2. enthusiasm
Also going hand with determination, passion
plays a big part in inspiring the entrepreneur
although ambition is perhaps the key to the
ignition of the entrepreneur.
Every successful businessman has a positive
outlook which gives him the energy to pursue
his endeavours.
3. Creativity
It led you to envision your company and it
will be creativity that will help you
understand the potential solutions to any
hitches that may come your way.
Successful entrepreneurs will find motivation
in the process, and also find ways to turn
roadblocks into opportunities.
4. Decision-making
Entrepreneur call in all the actions needed.
Although their imagination makes them men
of ideas. That will make them men of action
is their ability to make decisions.
The decisions taken by businessman will
decide the company’s destiny.
5. perseverance
Maybe the most significant of all
entrepreneur’s characteristics is their ability
to withstand the troubles that come with
starting a company.
Starting a ne company is an incredibly
challenging experience and as an
entrepreneur.
Entrepreneurshi
p as a career
LESSON 2
Entrepreneurship as a career:
To be successful in entrepreneurship, one
must have a heart to continue even if
everything doesn’t fall into place or
challenging situations happen, have a lot of
motivation because you believe in your
company and business vision and mission and
have that drive to always focus on your goals.
Than
k You