Entrepreneurship

Entrepreneurship

the economic activity of a person who starts, manages, and assumes the risk of a business enterprise.

the process of creating something different and is also described as a dynamic process and an approach.

The term “entrepreneurship” originated in

europe

Enreprendre means

to undertake

Entre means

enter

pre means

before

neur means

nerve center

entrepreneur

is an innovator and developer of ideas, a change agent, and a creative and persistent individual.

is someone who perceives an opportunity and creates an organization to pursue it.

TYPES OF ENTREPRENEUR

1.The inventor.
2. The small business owner.
3. The online entrepreneur.
4. The home business owner.

The inventor.

This person wants to create the next big thing.

The small business owner

Small business entrepreneurs employ less than 500 workers.

The online entrepreneur.

Whether it's a side hustle or a fulltime job, these entrepreneurs make the Internet work for them.

The home business owner.

These people use their homes as their home base.

runs a business using their home as the main workplace.

Role of Entrepreneur

1. Innovation and Creativity
2. Economic Growth
3. Risk-Taking
4. Job Creation
5. Market Expansion
6. Social Contributions
7. Wealth Generations
8. Adapting to Change
9. Leadership Vision
10. Building Competition

Innovation and Creativity

develop new products, services, or processes that solve problems or address unmet needs in the market.

Economic Growth

Entrepreneurs contribute to economic development by creating jobs and generating income.

Risk-Taking

Entrepreneurs assume financial, emotional, and social risks to bring their ideas to market.

Job Creation

Entrepreneurs are significant contributors to employment, providing opportunities for people in various fields and skill levels.

Market Expansion

Entrepreneurs help expand markets by introducing new products or services and exploring untapped segments.

Social Contributions

Many entrepreneurs address social issues through their business models (e.g., social entrepreneurship), aiming to make a positive impact while achieving profitability

Wealth Generations

Entrepreneurs create wealth not only for themselves but also for investors, employees, and governments through taxes.

Adapting to Change

Entrepreneurs are often at the forefront of responding to societal and technological changes.

Leadership Vision

Entrepreneurs provide direction and inspire their teams to achieve organizational goals.

Building Competition

Entrepreneurs promote healthy competition, leading to better quality products and services.

THE BIGGEST MISCONCEPTION ABOUT ENTREPRENEURSHIP

1. You need a lot of money to get started
2. Choose between business and your personal life
3. Your staff will adopt your work ethic
5. There is no room for error
6. Taking a risk is too risky for new business owners
7. Entrepreneurs are born to lead
8. Applies mostly with good educational background in Business Course

You need a lot of money to get started

You do NOT need a lot of money to start a business.
Many businesses begin small and grow over time.

Choose between business and your personal life

you will have to balance running your business with everything else in your life. However, you will not have time to personally handle every single detail of your business. And that’s okay, so don’t be afraid to seek help where it is needed.

Your staff will adopt your work ethic

you will very rarely have someone telling you when it’s time to call it a day. Building a successful business is often a collaborative effort, so make sure to foster a positive working environment for your staff.

There is no room for error

As a new small business owner, it’s easy to feel like you have to carry the heavy burden of responsibility. But everyone is allowed to make mistakes; it’s part of the process. They can teach you valuable lessons about yourself, your product or service, your customers and your competition.

Taking a risk is too risky for new business owners

Entrepreneurs must overcome fear and take smart, calculated risks.

Entrepreneurs are born to lead

It may seem that some people were born natural leaders, or were born with better traits to become entrepreneurs, but in reality, entrepreneurs come in all shapes and sizes, and it's possible to acquire the necessary traits to become a successful entrepreneur no matter how you started out.

Applies mostly with good educational background in Business Course

Nobody is born an entrepreneur. To become a successful entrepreneur, you must know the basic concepts and principles of entrepreneurship and apply them properly to your chosen business. The environment in which your business operates also contributes to its success.

ECONOMIC GROWTH

Job Creation → Economic Growth and Development → Wealth Generation and Distribution → Improved Standards of Living → Export and Global Competitiveness →(repeat the cycle)

SOCIAL BENEFITS

Addressing Societal Challenges
Empowerment of Marginalized Group
Community Development
Cultural Preservations
Fostering Innovation and Creativity

1. For Governments.

Entrepreneurship reduces dependence on social welfare systems by creating jobs and wealth, while also boosting tax revenue.

2. For Individuals.

It provides personal growth opportunities, financial stability, and a sense of purpose.

3. For Societies.

Entrepreneurship brings about a culture of innovation, adaptability, and resilience.

ENTREPRENEURSHIP SA NATIONAL LEVEL

1. Utilization of Resources

👉 Mas nagagamit nang maayos ang likas at yaman ng bansa.

2. Creating a Good Market

👉 Dahil sa entrepreneurs, may produkto at serbisyo na kailangan ng tao.

3. Job Creation

👉 Lumilikha ng bagong negosyo at trabaho para sa mga manggagawa.

ENTREPRENEURSHIP SA PERSONAL LEVEL

Anyone who wants to do something on their own can easily become an entrepreneur. In that sense, they are the pioneers in turning an idea into a product. Here we remind you of some of the entrepreneurs in your region.

When considered Indigenously

1. Physical Resources

👉 Ginagamit at binibigyan ng halaga ang lokal na yaman ng isang lugar.

2. Urbanization is Declining

👉 Nabibigyan ng trabaho ang tao sa probinsya kaya hindi na kailangang lumipat sa siyudad.

3. Innovations are Born

👉 Isang negosyo ay nagbubukas ng iba pang negosyo (transportasyon, pagkain, tirahan).

4. Local Development

👉 Napapaunlad ang imprastruktura tulad ng kalsada, kuryente, komunikasyon, at transportasyon.

ROLE OF ENTREPRENEURSHIP IN SOCIO-ECONOMIC GROWTH

👉 Ang negosyo ay may apat na nakikinabang:

1. Employer

2. Employee

3. Consumer

4. Society

👉 Gumagawa ng produkto o serbisyo
👉 Lumilikha ng trabaho
👉 Kumakain ng kita ang negosyo
👉 Nakikinabang ang lipunan