ENTREP | Introduction to Entrepreneurship

Entrepreneur | Etymology

It is derived from the French verb enterprendre, which means “to undertake.”

Entrepreneur | Definition

• Innovators who are willing to take the risks and generate unique ideas that can provide profitable solutions to the needs of the market and the society.

• They start and run the business, with the business idea encompassing a new product or service rather than an existing model.

• They are responsible for all corresponding rewards and risks.

Personal Entrepreneurial Competencies

1. Opportunity Seeker

2. Persistence

3. Proactive

4. Risk Taker

5. Leader

6. Decisive

7. Innovative

Opportunity Seeker

the ability to be the first to see business chances

Persistence

doing something consistently even though others say that you will not succeed or that you are just wasting your time and effort

Proactive

controlling a situation by making things happen or by preparing for possible future problems

Risk Taker

deliberately calculating risks and evaluating alternatives, and placing self in situations involving a challenge

Leader

having the charisma to be obeyed by his employees

Decisive

being firm in making decisions

Innovative

having big business ideas while continuing to improve and think of new worthwhile ones

Types of Entrepreneurship

1. Small Business

2. Scalable Startup

3. Large Company

4. Social

Small Business Entrepreneurship

involves starting and operating a business without the intention of scaling it into a large enterprise

Scalable Startup Entrepreneurship

focuses on developing innovative ideas that can be expanded significantly

Large Company Entrepreneurship

involves creating new business divisions within established companies

Social Entrepreneurship

aims to create social or environmental benefits rather than focusing solely on profits

Types of Innovation

1. Product

2. Process

3. Physical Environment

Product Innovation

creating new or improved products or services

Process Innovation

improving efficiency and effectiveness of how the business operates and is managed

Physical Environment Innovation

the ways in which the physical surroundings can be designed and modified to foster creativity, productivity, and overall well-being, ultimately leading to innovation

Career Opportunities

1. Business Consultant

2. Teacher

3. Researcher

4. Salesman

5. Business Reporter

Business Consultant

with the expertise of in the field of entrepreneurship, he can be a very
good source of advice to other entrepreneurs and would be businessmen

Teacher

where a graduate of an entrepreneurship can use their knowledge in teaching