ENTREPRENURSHIP

Objectives of the Lesson

• Define what is TOPIC:
Entrepreneurship and who are » Entrepreneurship
the entrepreneurs 1.1Entrepreneurship contemporary views with their
• Recognize the importance process and approach
entrepreneurs
1.2 Definition of Entrepreneur and Entrepreneurship
• Identify the different risks
and rewards of 1.3 Entrepreneurial skills
entrepreneurship
1.4 Socio- economic benefits from entrepreneurship
• Discuss the importance and
impact of entrepreneurship in 1.5 Attributes, Qualities and characteristics of an
improving the quality of life Entrepreneur

of the Filipinos
Pre Activity Exercise

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 cant 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 center
 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.

Entrepreneurs Entrepreneurship
- Entrepreneurs are those who set a goal and convert it to a - Entrepreneurship is developing and operating the business
business - Systematic and creative to run the business smoothly
- Someone who have new solutions for society by running an - Pushes people to create and think unique products and
enterprise services
- Create ideas and shape the business - Create a variety of professional networks
- Someone who leads the team by providing guidance and - Strengthen interpersonal relationships with people
direction - Motivate individuals and stay focus to run the organisations
- A risk-taker, minimise the risk and looks forward to the future - Has both risks and rewards of a business
CHARACTERISTIC AND IMPORTANCE
OF ENTREPRENUER
 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
•Is not conscious of time wasted
and habits after successful entrepreneurs
•Does not develop the habit of working well with people
THE FILIPINO ENTREPRENEUR
 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.
10 CHARACTERISTICS OF
SUCESSFULE ENTREPRENUR
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 .
References
Entrepreneurship in the Philippine Setting, Winifreda T. Asor,
Ph.D.; pages 2-7, 14-1
Activity
Divide the class to 3-4 groups. Ask students identify any two objects and have them brainstorm ways they can combine the objects into one
invention. Then they must define the invention. Have them answer questions such as:

•What is it?
•What can it do?
•Who uses it?

After defining the invention, students have two minutes to pitch it to the class. They should start by introducing themselves, the name of their
company, and their invention. Once they’ve made their introductions, have them explain how their invention works and why people need it.

Criteria:
Content 10 Points
Creativity 10 Points
TOTAL 20 Points