Week 2:
The Entrepreneurial Mind
GEE121DM
Mrs. Adelynne Valenciano
Today’s Learning
ENTREPRENEURSHIP
▪ Entrepreneurship contemporary views with their process and
approach
▪ Definition of Entrepreneur and Entrepreneurship
▪ Entrepreneurial skills
▪ Socio-economic benefits from entrepreneurship
▪ Attributes, Qualities and characteristics of an Entrepreneur
Entrepreneurship
Entrepreneurship
Entrepreneurship
Entrepreneurship
Entrepreneurship
Entrepreneurship
Entrepreneurship
Entrepreneurship
Entrepreneurship
Thank you!
What are your takeaways?
Week 4:
The Entrepreneurial Mind
GEE121DM
Mrs. Adelynne Valenciano
Today’s Learning
ENTREPRENEURSHIP
▪Evolution of Entrepreneurship
▪Entrepreneurial Mindset
▪Socio-economic benefits from entrepreneurship
▪Entrepreneurial Activities
Evolution of Entrepreneurship
▪ Entrepreneurship
originated from Europe in
the Middle Ages
entreprende – to undertake
(provided men and materials needed
by feudal lords)
entre – to enter
pre – before
neur – nerve center
(individuals develop the nerve
center of the business)
The Filipino Entrepreneur & Challenges
▪ FILIPINOS stand to duplicate how its former colonizers really
undertake its business
▪ Starting a business of his own, new and small-scale business
▪ No comprehensive purposive study rather various write ups
and documentations of various “successful entrepreneurs”
Contemporary Views
AS AN APPROACH AS A PROCESS
▪ Innovation and new-venture creation
▪ A chance to solve a problem rather through 5 major dimensions:
than solving the problem itself Individuals
▪ Bias towards growth and expansion VS Organization
scenario Environment
Process
Institutions
Entrepreneurial Mindset
▪ A mindset is a cognitive belief system
consisting of interrelated beliefs, assumptions,
and knowledge that we use to process
information, inform our decisions, and guide
our behaviour.
▪ An entrepreneurial mindset is a specific set of
beliefs, knowledge, and thought processes
that drives entrepreneurial behaviour.
“MASTER
YOUR
MINDSET AND
YOU’LL
MASTER YOUR
BODY.”
Entrepreneurial Mindset
Entrepreneurial Mindset
Critical The capacity to apply higher- level, process-oriented
Thinking thinking, consider an issue from a range of possible
perspectives, and use that reasoning to make decisions.
Flexibility & The ability and willingness to change actions and
Adaptability plans to overcome present and future challenges.
Communication The ability to clearly express ideas to an intended
& Collaboration audience, including persuading others to work
towards a common goal.
Entrepreneurial Mindset
Comfort The capacity to move forward with a
with Risk decision despite inevitable uncertainty and
challenges
Initiative &
Self The power to take ownership of a project
Reliance without input or guidance and work through
obstacles independently.
Future An optimistic disposition with a focus on
Orientation obtaining the skills and knowledge
required to transition into a career.
Entrepreneurial Mindset
Opportunity
The practice of seeing and
Recognition
experiencing problems as
opportunities to create
solutions.
Creativity &
Innovation The ability to think of ideas
and create solutions to
problems without clearly
defined structures.
Socio-economic Benefits from Entrepreneurship
1. Promotes self-help and
unemployment
2. Mobilizes capital
3. Provides taxes to the economy
4. Empower individuals
5. Enhance national identity and
pride
6. Enhance competitive
consciousness
7. Improves quality of life
8. Enhances equitable distribution of
income and wealth
Entrepreneurial Activities
Business
Innovation Business Idea Intrapreneurship
Possibility
External and
Entrepreneurial
Entrepreneurship Business Plan Internal
Process
Entrepreneurship
Entrepreneurial Activities
Entrepreneurial Activities
Entrepreneurial Activities
The Entrepreneurial Process
1. Opportunity identification / recognition
2. Market size and the length of the
window of opportunity are the primary
bases for determining risks and rewards.
▪ Window of Opportunity – the time period
available for creating the new venture
3. Business Plan – the description of the
future direction of the business
4. Determination of the required resources
5. Management of the resulting enterprise
Entrepreneurship
A person who undertakes the An entrepreneur creates a firm,
risk of starting a new business which aggregates capital and
venture is called an labor in order to produce goods
entrepreneur. or services for profit.
Entrepreneurship is high-risk,
Entrepreneurship is an
but also can be high-reward as
important driver of economic
it serves to generate economic
growth and innovation.
wealth, growth, and innovation.
Thank you!
What are your takeaways?
Week 5:
The Entrepreneurial Mind
GEE12DM
Mrs. Adelynne Valenciano
Today’s Learning
Search for:
❑Business Opportunity
❑Ideation
❑Innovation
❑Creativity
Entrepreneurial Activities
Business
Innovation Business Idea Intrapreneurship
Possibility
External and
Entrepreneurial
Entrepreneurship Business Plan Internal
Process
Entrepreneurship
The Search for Business Opportunity
The Following Factors on Resources have to be evaluated:
MARKETS
This refers to the Business
numbers of opportunities exist
prospective buyers, in areas where
the price, and the consumer
quality of goods and satisfaction is
services that have to weak or
be analyzed. incomplete.
The Search for Business Opportunity
The Following Factors on Resources have to be evaluated:
INDIVIDUAL INTEREST
Business interest of For example, if
individuals should one is a good
match business cook, he should
opportunities. venture in the
food business.
The Search for Business Opportunity
The Following Factors on Resources have to be evaluated:
CAPITAL
This serves as the The availability of
fuel that keeps the funds should fit
business operating. the type of
business to
organize.
The Search for Business Opportunity
The Following Factors on Resources have to be evaluated:
SKILLS
The Entrepreneur Hard Skills:
should have the teachable skills or
proper skills in the set skills that are
business he going easily to quantify
to undertake.
Soft Skills:
“people skills’ or
“interpersonal
skills”
The Search for Business Opportunity
The Following Factors on Resources have to be evaluated:
SUPPLIERS OF INPUTS
It is important that • Cycle time
there are steady • Cost
suppliers of raw • Utilities
materials and other • Benefits
• Sustainable
inputs to the
• Quality
business.
The Search for Business Opportunity
The Following Factors on Resources have to be evaluated:
MANPOWER
The success of any How quickly you clean
your house after a big
business also party will depend on
depends on the how much manpower
efficiency of its you've got. The term
manpower can mean
employee. The "labor force,"
total number of "workforce,"
people who can "workers," or simply
"people," and despite
work to get the man, it applies to
something done. both men and women
The Search for Business Opportunity
The Following Factors on Resources have to be evaluated:
TECHNOLOGY
Entrepreneurs should • Computers
be aware of the • Software
presence of • Networking
technology to • Telephone
improve their Communication
products or services, • Accounting
or introduce new System
innovation in the • Inventory Control
market. System
The Search for Business Opportunity
The study of all problems in marketing a product
The Search for Business Opportunity
Peak sales
while profit
begins to
fall
Product Once product
distribution is no longer
profitable, it is
eliminated
from the
Marketing market
activities
The Search for Business Opportunity
barber professional
Service-based consultancy repair shops caregiving
shops services
grocery bakery construction
Product-based buy-and-sell showroom
store products materials
hand-
ceramic candle
Manufacturing painted T- factories medicines
vases making
shirts
The Search for Business Opportunity
Licensed resellers in
business
franchising Wholesalers
bulk
pre-agreed
Distributorship dealers Subcontracting
price
Vending
machine
Rack Jobber store racks Machine
Routes and stocks
Ideation
▪ The beginning of business endeavor
and first investment
Creative persons – ideas are in his mind
People deprived with creative thinking –
get ideas through books and talking with
creative thinkers
Category of Ideas:
✓ Needs/wants drivers
✓ Time-saving drives
✓ Money savings
✓ Unique or incorporating strong competitive
advantages
✓ Link to personal interest, preferably passion
Ideation
How to develop ideas: How to evaluate ideas:
1. Do not let your idea follow money, let money follow
1. Recognizing the need
your ideas.
2. Improving an existing product 2. See yourself as a problem solver.
3. Recognizing trends 3. Use research as a weapon against failure.
4. Be aware of everything 4. Make sure your idea has longevity.
5. Take a risk on your ideas.
5. Questions and assumptions
6. Test your idea against the past, present, and future.
6. Naming it first, then, develop 7. Know the idiosyncrasies of your market.
Ideation
How to protect you ideas:
▪ Confidentiality Agreements
▪ Patents
o Design
o Utility
o Plants
▪ Trademark
▪ Copyrights
Entrepreneurial Creativity
▪ essential part of innovativeness and is skillfully
managed that brings an idea into innovation
▪ innate or inherent to every individual but can be
influenced by social environment
Environmental Stimulants:
✓ Freedom
✓ Good Project Management
✓ Sufficient Resources
✓ Encouragement
✓ Various Organizational Ideas
✓ Recognition
✓ Sufficient Time
✓ Challenge
✓ Pressure
✓ Outside Organization
The Concept of Innovation
▪ doing something different –
introducing something new or
different
▪ characteristic of an individual, team,
or organization
Impacts of Innovation:
✓ Effecting a new policy
✓ Finding new opportunities
✓ Designing a new structure
✓ Devising a fresh method
Entrepreneurship
The success of a business could
In selecting a business, option
lead to personal prosperity of the
should be through evaluation and
owner and help in the economic
systematic process.
condition of our country.
Markets, individual interests,
There are many business capital, skills, supplier of inputs,
opportunities for an individual manpower, and technology are
with a creative mind. some factors on resources that
needs to be evaluated.
Activity #2
1. Self-study this Powerpoint
presentation and read Chapter 5
of the book Entrepreneurship in
the Philippine Setting by
Winefreda T. Asor on pp. 32-40
2. Answer Test and Apply your
Knowledge on page 40 (4
questions)
3. See attached MS Word file (Week
5_Entrepreneurial Mind_Act#2)
for the instructions and format.
4. Please prepare for our Quiz #1 on
April 25.
Thank you!
What are your takeaways?
