ENTREPRENEURSHIP: Overview and Concepts

Entrepreneurship

the science of converting processed

ideas into a remarkable business

venture

• is the ability and readiness to develop,

organize and run a business

enterprise, along with any of its

uncertainties in order to make a

prof

Entrepreneur

is a person who creates unique ideas

that will be useful for starting a

business.

• someone who makes money by

starting their own business, especially

when this involves seeing a new

opportunity and taking risks.

Key economic driver

entrepreneurship plays a vital role in stimulating and

sustaining economic growth. By teaching students how to

start and manage businesses, entrepreneurship education

helps create future business owners who can generate jobs,

introduce innovative products and services, increase

market competition, and boost overall economic activity.

As a result, entrepreneurship becomes a major force that

drives the economy forward, making it essential for

national development and progress.

Increase the level of knowledge, competence, and improve the quality of life.

entrepreneurship education helps students gain a deeper

understanding of how businesses work, develop important

skills such as critical thinking, decision-making, and

problem-solving, and become more capable and confident

in real-life situations. As students become more

knowledgeable and competent, they are better prepared to

create opportunities for themselves, earn income, and

contribute positively to society—leading to a better and

more improved quality of life

Alternative Career path

entrepreneurship offers students another option aside from

traditional employment. Instead of working for someone

else, they can choose to start and manage their own

business. This path allows for greater independence,

flexibility, and the opportunity to pursue their passions

while potentially generating their own income.

Entrepreneurship, therefore, becomes a valuable alternative

career choice for students who want to be self-employed or

create their own professional opportunities.

competencies

are considered as the capability,

capacity and ability of the

learner in handling situations in

various areas in business

operations such as in marketing,

management, production, and

finance

Specific goal setting

Entrepreneurs should set goals that are

specific, measurable, attainable, realistic, and

time-bound because it will increase the

chances of achieving that goal

Self efficacy

Entrepreneurs must believe in their ability.

Entrepreneurs with high self-efficacy will turn

negative feedback into positive and use this as

a basis for improvement.

Need for achievement

Entrepreneurs must have a high desire to

accomplish goals. This includes repeated

efforts to achieve success

Ambition

Entrepreneurs must have motivation and

persistence to pursue their goals

Willingness to learn

Entrepreneurs should have a strong

willingness to acquire new knowledge and

skills.

Adaptability and flexibility

Entrepreneurs must learn how to be adaptable

and flexible in every situation. They can

manage change well and generate new actions

even with undesirable events.

Willingness to take risks

Entrepreneurs must be willing to accept the

consequences of every decision. They must

know how to calculate and identify risk. They

are skilled in developing new plans.

Interpersonal skills

Entrepreneurs should have strong skills in

working with people. They should have an

understanding of the behavior of others.