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Introduction to Entrepreneurship Concepts

The document is an introduction to entrepreneurship. It defines entrepreneurship as creating something new of value by devoting time and effort. It lists benefits like opportunity for profits and contribution to society, as well as drawbacks like stress and risk of losing capital. Key characteristics of entrepreneurs are initiative, seeing and acting on opportunities, persistence, and problem solving. The document contrasts entrepreneurs and managers and outlines the entrepreneurial process.

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Abi Mae Dela Rosa
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859 views5 pages

Introduction to Entrepreneurship Concepts

The document is an introduction to entrepreneurship. It defines entrepreneurship as creating something new of value by devoting time and effort. It lists benefits like opportunity for profits and contribution to society, as well as drawbacks like stress and risk of losing capital. Key characteristics of entrepreneurs are initiative, seeing and acting on opportunities, persistence, and problem solving. The document contrasts entrepreneurs and managers and outlines the entrepreneurial process.

Uploaded by

Abi Mae Dela Rosa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

ENTREPRENEURSHIP

MODULE 1
INTRODUCTION TO
ENTREPRENEURSHIP
ABI MAE [Link] ROSA
Name of

Student:___________________________________
Section:___________________________________________
Question: What are the names that come to your mind when you think of an entrepreneur?
Answer:
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

Question: What do you understand of an entrepreneur?


The boss?
The business owner?
The risk taker?
One who starts small business?
The resourceful and creative person?

DEFINITION:
Origin of the word:
Enteprendre an undertaker
According to George Gilder from the Spirit of the Enterprise
It is making the world forever new. It is taking aggressive actions.
According to Joseph Schumpeter
It is destroying the old order and creating new ones.
Entrepreneurship is the process of creating something new of value by devoting (giving) the
necessary time and effort.

1
Benefits of Entrepreneurship
Opportunity to make a difference
Opportunity to reach your full potential
Opportunity to get unlimited profits
Opportunity to do whatever you enjoy
Opportunity to contribute to society and be recognized for your efforts
Opportunity to gain control over your own destiny

Drawback of Entrepreneurship
High levels of stress
Complete responsibilities
Discouragement
Long hours and hard work
Uncertainly of income
Risk of losing your entire invested capital
Lower quality of life until the business gets established

Three Masteries of an Entrepreneur


Mastery of Self (Mind, Heart, and Gut)
Mastery of Opportunity
Mastery of Enterprise

Question: In your own opinion what characteristics best describe an Entrepreneur?


______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________

2
Characteristics of an Entrepreneurs
Initiative
Sees and Act on Opportunities
Persistence
Information seeking
Concern on High Quality and Output Increased Productivity
Commitment to work contract
Effieciency Orientation
Systematic and Organized Planning
Problem Solving
Self Confidence
Assertiveness Negotiation with suppliers and customers
Persuasive and Influential Peers and Stakeholders
Inspirational - employees
Effective Communicator external and internal of organization

Difference Between an Entrepreneur and a Manager

3
The Entrepreneurial Process

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