CHAPTER-1-INTRO (1).pdf Practical research 2
- 2. SHARE IT! What comes to your mind when you hear the word, “ENTREPRENEURSHIP?”
- 3. ENTREPRENEURSHIP: DEFINED It is the maximization of available resources in the community and transform these into either products/services.
- 4. THE ENTREPRENEUR’S TASK The entrepreneur is responsible for assembling the resources consisting of land, labor, and capital for the purpose of producing goods and services and deciding on the rate of output his venture must produce.
- 5. ENTREPRENEURSHIP CONCEPT ▪ The word “entrepreneur” was derived from the French verb entreprendre, which means “to undertake.” This is pinpointing to those who “undertake” the risk of enterprise. The enterprise is created by an entrepreneur and the process is called “Entrepreneurship.” ▪ Entrepreneurs are innovators. They are willing to take the risks and generate unique ideas that can provide profitable solutions to the needs of the market and the society.
- 6. INNOVATION Innovation is an important aspect of entrepreneurship. It is defined as the introduction of a new method, procedure, custom, device, among others. It is also linking or connecting to the needs of the community; looking into the different aspects/dimensions of providing the unlimited needs of the growing population. This may either be basic commodities, services or creative outputs.
- 8. SHARE IT! What is the significance of studying entrepreneurship?
- 9. BENEFITS OF ENTREPRENEURSHIP TO SHS STUDENTS • Assess feasibility of ideas • Manage risk • Identify legitimate sources of capital • Evaluate ownership structures • Translate problems into opportunities • Apply principles of human relations management • Speak “business” and “entrepreneurship” • Apply basic accounting principles • Demonstrate financial management
- 10. BENEFITS OF ENTREPRENEURSHIP TO SHS STUDENTS • Creation of entrepreneurial thinkers who also have the skills and tools to start their own businesses • Write a business plan • Apply economic principles • Determine individual entrepreneurial interest • Apply basic marketing skills • Use strategies for idea generation
- 11. RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION ➢ Developing of managerial capabilities ➢ Creation of organizations ➢ Improving standard of living ➢ Means of economic development
- 12. IMPORTANCE OF ENTREPRENEURSHIP ➢Entrepreneurship is a key driver of our economy. ➢Wealth and a high majority of jobs are created by entrepreneurially minded individuals, many of whom go on to create big businesses.
- 13. MY TAKEAWAYS! What are your key takeaways from today’s lesson?
- 15. ANONG SAY MO? What do you think are the career opportunities in entrepreneurship? Is it exclusive to the corporate or business world?
- 16. CAREER OPPORTUNITIES FOR ENTREPRENEURSHIP •BUSINESS CONSULTANT •SALES MANAGER •RESEARCH AND DEVELOPMENT •TEACHER •RECRUITER •BUSINESS REPORTER
- 18. GUESS THE WORD APPLE TUNETY CAR OPPORTUNITY-SEEKER GUESS THE GIBBERISH
- 19. GUESS THE WORD COMB ME TIRED COMMITED GUESS THE GIBBERISH
- 20. GUESS THE WORD FRESH SEA TEN PERSISTENT GUESS THE GIBBERISH
- 21. GUESS THE WORD RICH TIE CAR RISK TAKER GUESS THE GIBBERISH
- 22. GUESS THE WORD EWW PAY SCENT EFFICIENT GUESS THE GIBBERISH
- 23. GUESS THE WORD QUAIL EAT OR YEN TIED QUALITY ORIENTED GUESS THE GIBBERISH
- 24. GUESS THE WORD GO SET THOR GOAL SETTER GUESS THE GIBBERISH
- 25. GUESS THE WORD FLY NEAR PLANNER GUESS THE GIBBERISH
- 26. GUESS THE WORD PIE SWEAR SIB PERSUASIVE GUESS THE GIBBERISH
- 27. GUESS THE WORD QUEEN FINE DANCE CONFIDENT GUESS THE GIBBERISH
- 28. GUESS THE WORD INN FOUR MANSION SIS CARE INFORMATION SEEKER GUESS THE GIBBERISH
- 29. PERSONAL ENTREPRENEURIAL COMPETENCIES Based on studies conducted by the Small Enterprise Research and Development Foundation (SERDF) of the Department of Trade and Industry (DTI), there are TEN entrepreneurial chracteristics grouped into THREE major cluster. 1. Achievement Cluster 2. Planning Cluster 3. Power Cluster
- 30. ACHIEVEMENT CLUSTER This cluster consists of entrepreneurial character traits that are directly related to entrepreneur’s desire to be an achiever in the field of entrepreneurship. The entrepreneur who belongs to the achievement cluster is: 1. An Opportunity-seeker 2. Committed 3. Persistent 4. A risk-taker 5. Efficient and Quality-oriented
- 31. PLANNING CLUSTER This cluster basically supports the character traits in the achievement cluster. The plan serves as the blueprint of the actions to be undertaken by the entrepreneur. The entrepreneur who belongs to the planning cluster is: 1. A goal-setter 2. An information-seeker 3. Systematic in planning and monitoring
- 32. POWER CLUSTER This cluster refers to the relationship and image of the entrepreneur in the community. The entrepreneur who belongs to the power cluster is: 1. A persuasive and positive networker 2. Self-confident
- 33. THINK OF IT! Why do you think it is important to have these traits and competencies as an entrepreneur? Are these traits and competencies only important to entrepreneurs? Do you consider it essential that you have these traits and competencies? Why or why not?
- 34. CORE COMPETENCIES IN ENTREPRENEURSHIP 1. Economic and dynamic activity 2. Innovation 3. Profit potential 4. Risk Bearing
- 36. ENTREPRENEURIAL SKILLS These refer to the set of cognitive, technical, and interpersonal skills required in the practice of entrepreneurship.
- 37. COGNITIVE SKILLS Mental ability of the entrepreneur to learn new things, generate new ideas, and express knowledge in both oral and written forms. The cognitive skills of an entrepreneur include the following: 1. Ability to understand written materials 2. Ability to learn and apply new information 3. Ability to solve problems systematically 4. Ability to create new ideas 5. Ability to innovate new products and procedures or methods.
- 38. TECHNICAL SKILLS These skills relate to their knowledge and proficiency in a specialized field like computer technology, accounting, marketing, operations research, engineering, medical fields or other technical related skills. Technical skills of an entrepreneur include proficiency and ability, in the following areas: 1. Information Technology 2. Feasibility study and business plan preparation 3. Technical writing skills 4. Marketing 5. Management and Finance
- 39. INTERPERSONAL SKILLS These skills are about the relationship and interaction of the entrepreneur with the workers, suppliers, creditors, prospective customers, and other members of the business community. Interpersonal Skills include the following: 1. Skills in verbal communication 2. Skills in non-verbal communication 3. Skills in listening 4. Skills in leading 5. Skills in negotiating.
- 41. TYPES OF ENTREPRENEURS • INNOVATIVE ENTREPRENEURS These entrepreneurs have the ability to think newer, better and more economical ideas of business organization and management. They are business leaders and contributors to the economic development of a country.
- 42. Example Technology companies triggering a paradigm shift by impacting industries A. Apple – changed music and consumer electronics B. Uber – changing the taxi business C. Airbnb – changing the accommodation industry D. Amazon – changing retailing
- 43. TYPES OF ENTREPRENEURS • IMITATING ENTREPRENEURS These entrepreneurs are people who follow the path shown by innovative entrepreneurs. They imitate innovative entrepreneurs because the environment in which they operate is such that it does not permit them to have creative and innovative ideas on their own.
- 44. TYPES OF ENTREPRENEURS • FABIAN ENTREPRENEURS These type of entrepreneurs are skeptical about the changes to be made in the organization. They do not initiate any inventions but follow only after they are satisfied with its success rate. They wait for some time before the innovation becomes well tested by others and do not result in a huge loss due to its failure.
- 45. TYPES OF ENTREPRENEURS • FABIAN ENTREPRENEURS A notable example of Fabian entrepreneurship is Kodak Company, which doesn’t need any sort of introduction. They were once a top brand for manufacturing analog cameras. However, they didn’t adopt modern technologies nor make any notable modifications to their products. The company was too late to introduce digital cameras as other brands used this opportunity. Many other companies with a similar approach, including Panasonic, lost their position due to this form of entrepreneurship.
- 46. TYPES OF ENTREPRENEURS FABIAN ENTREPRENEURS These entrepreneurs have the following characteristics: • Accept and stick to traditional methods. • Work for a family-owned business. • Careful. • Display risk-aversion. • A clear, strict, and basic strategy.
- 47. TYPES OF ENTREPRENEURS • DRONE ETREPRENEURS Drone is “a person who lives in the labor of others.” Drone entrepreneurs are those individuals who are satisfied with the existing mode and speed of business activity and show no inclination in gaining market leadership. In other words, drone entrepreneurs are die-hard conservatives even ready to suffer the loss of business.
- 48. TYPES OF ENTREPRENEURS • SOCIAL ENTREPRENEURS Social entrepreneurs drive social innovation and transformation in various fields including education, health, human rights, workers’ rights, environment and enterprise development.
- 49. SHARE IT! What type of entrepreneur would you want to be in the future? What inspired you to pursue this type of entrepreneur, and what influence do you want to make through your entrepreneurial endeavors?
- 50. End of Slide. THANK YOU