ENTREPRENEURS

Are people with idea and

initiative as well as goals and
spirit in running a business.
Anyone can aspire to be one.
Anyone can engage in
entrepreneurship no matter
what his/her background is. It
only requires readiness for
the role since entrepreneurship
is a demanding and a
challenging job.
ENTREPRENEURSHIP
Is defined as the
process by which an
individual produces
goods and services to
improve man’s quality
of life. An
entrepreneur is the
one engaged in a
business enterprise.
(PECS)
Entrepreneurs are
individual who are highly
enterprising and possess
the following
competencies:
 OPPORTUNITY SEEKER
Entrepreneurs are in the
habit of identifying
present and future needs
of people and institutions
in the community. They
keenly observe their
environment for the ideas
that can be turned into
profits.
 PERSISTENT INITIATORS
They keeps on trying various
alternatives to improve their
services to the people. They
should display the ability to
think of other ways to draw
reserve energy from within
themselves to be able to
work harder and longer at a
task.
 COMMITTED WORKERS
When they make a promise, they do all the
possible means to keep this. Entrepreneurs
work with excellence in whatever they do. They
always seek ways to do things better, cheaper
and faster. They have their own standards of
excellence, because what matters to them is
that the customer is satisfied with the product or
service. Because their passion for perfection,
they are the source of many innovations in
products and services.
 GOOD PLANNERS

They lay out plans carefully, identify

alternatives, follow-up progress, get
feedback, and try hard to achieve set
goals. Entrepreneurs are good planners
and decision makers. Planning calls for
the ability to break down tasks into
logical, step-by-step activities, to
accomplish a job.
 PROBLEM SOLVERS
They anticipate and solve problems creatively.
This calls for being wise decision makers.
Decision making is the ability to tackle problems
by drawing up a number of solutions and
choosing the best one. They should be open to
feedback and have to do things systematically.
 GOAL-SETTERS
Entrepreneur do not set only clear long-term
goals, but also clear and specific short-term
goals. They make sure that the goals set are
realistic and attainable. Dreams are translated
into reachable objectives. Goals should be
specific, measurable, attainable, results-based
and time-bound (SMART)
 INFORMATION/FEEDBACK SEEKERS

They personally seek important data on clients and

suppliers, as well as competitors. They must know
who to ask, where to ask, what to read, and whom to
consult, to know more about the prospect. Know how
a product is made, know who makes the product and
how much it will cost, and where the capital might
come to start the business.
 GOOD SALESMEN
They apply various strategies to
follow-up the progress of the
enterprise and influence the
customers.
 RISK-TAKERS
Despite risks in business enterprises, they take
the chance of investing. They believe that in
any worth while undertaking, there is always a
chance of winning. They take into
considerations the steps that may be pursued
to enhance their chance of winning.
Entrepreneurs may fail sometimes but they
learn to succeed eventually. They are leaders in
whatever they do.
 SELF-CONFIDENT
Entrepreneurs believe in themselves, and in
their ability to get things done, overcome
obstacles or meet challenges. They are
personally responsible for the job and ensure
that it is done well and on time. Success
comes because of their abilities, persistence,
and hard work.
 PROBLEM QUALITIES OF AN
SOLVER
ENTREPRENEUR
SELF - GOOD
CONFIDENT PLANNER

COMMITTED
WORKER
FEEDBACK
SEEKER
OPPORTUNITY
GOAL SEEKER
PERSISTENT
SETTER
INITIATOR

GOOD
SALESMEN RISK TAKER
SWOT Analysis
STRENGTHS, WEAKNESSES,
OPPORTUNITIES, THREATS
 SWOT Analysis
A method of assessing a
particular business; its
resources and its’
environment.
 Strengths
Characteristics of the business
that gives its advantage and
edge over the others in the
same industry.
Cheap raw materials
Available working capital
Available technical expertise of owner/s or workers
Strong customers demand for the products/services
Small operating expense
Small working capital
 Weaknesses
Characteristics that post
disadvantages on the part of
the firm as compared to
others
Poor management
Lack of technical know-how of owner or manager
Poor capital
Inappropriate size
Poor packaging
Poor marketing strategies
Expensive
Low production at a time of peak of popularity of the product.
Inability to understand of the customers needs, demands etcetera
 Opportunities
These are external
chances that can yield
greater profits and sales
for the business
Product not yet available in the market
Increasing demand for the products/service offered
Presence of favorable government support for such products/services.
Continued product development
Scarcity of the product in the locality
 Threats
These are external factors
that can subject these
businesses to conflicts and
possible trouble
Rising cost
Shortage of raw materials
Too many competitors
New taxation Scheme
Unfavorable government legislation