MOTIVATION :

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B E N U S S T P R Y E R R E A

N H A L I P E L S A I E P R C
LESSON 1:
ENTREPRENEURSHIP
FAMILIARIZE CHARACTERISTICS, AND BASIC
CONCEPTS OF ENTREPRENEURSHIP
 HISTORY OF ENTREPRENEURSHIP
• ENTREPRENEURSHIP defined as the process of starting
a business, which is often initially a small business. The
people who create these businesses are called
ENTREPRENEURS.
• The word “entrepreneur” originates from a thirteenth-
century French verb, entreprendre, meaning “to do
something” or “to undertake.” By the sixteenth century,
the noun form, entrepreneur, was being used to refer to
someone who undertakes a business venture.
 THE CONCEPT OF ENTREPRENEURSHIP
WHY ENTREPRENEURSHIP IS IMPORTANT?
- To have a small business where you can grow and earn
money. Create social change, community development
WORDS TO STUDY
• ECONOMY- is the system by which the production and
consumption of goods and services is organized in a country or
community.
• EMPLOYMENT- is the state of being employed or having a job;
the occupation for which you are paid.
• ENTERPRISE- is any activity which provides customers with a
product goods ( services ) with a view to making a profit.
• ENTREPRENEURSHIP- is the process of starting new organizations particularly
new business, generally in response to identified opportunities.
• SMALL BUSINESS- is one that that is independently owned and operated by
the owner
ENTREPRENEURSHIP AND SOCIO- ECONOMIC DEVELOPMENT
• Transforming ideas into economic opportunities is the index of entrepreneurship.
• Entrepreneurship is the capacity for innovation, investment and creation and
expansion in new markets, products and techniques. It has an extra ordinary
feature which is the creation of something new or something unique
• Economically, entrepreneurship invigorates markets.
• Socially, entrepreneurship empowers citizens, generates innovation and changes
mindset.
• Entrepreneurship is an important factor in economic development.
 BENEFITS OF ENTREPRENEURSHIP
• Entrepreneurship creates employment
• Entrepreneurship improves the quality of life
• Entrepreneurship contributes to a more equitable income and
therefore eases social unrest
• Entrepreneurship utilizes resources for national productivity
• Entrepreneurship brings social benefits through government
ACTIVITY: GIVE ATLEAST 3 PERSONAL GAINS IN YOUR BUSINESS.
 PERSONAL ENTREPRENEURIAL CHARACTERISTICS
CLUSTERS AND BEHAVIORAL INDICATORS
I. Achievement Cluster
Successful entrepreneurs are people who accomplish things.
They have what psychologist called the “need to achieve”
* Achievers rate high in the ff. PECs
1. Opportunity Seekers- An entrepreneur is said to be a good
opportunity-seeker if he sees and acts on new business opportunities.
2. Persistence- A persistent individual who:
A. Takes different actions to overcome an obstacle
B. Makes personal sacrifice or spends extraordinary efforts to
complete job
C. Sticks to his judgment in the face of opposition or early lack of
success
3. Commitment to the work contract – The true-blue entrepreneur is
committed to the work that he has agreed to do.
4. Risk Taking- A gambler is a person who takes high risks and so he
tends to lose all his money and even his shirts in the end. In other words,
he states a preference for situations that involve moderate risks.
5. Demand for Quality and Efficiency- A true entrepreneur is not
satisfied with mediocre work. He sets a high standard for performance.
II. Planning Cluster
Going into business is the result of deliberate goal- setting,
tireless information-seeking and systematic planning and monitoring by
the entrepreneur.
A.GOAL-SETTING
B. INFORMATION-SETTING
C. SYSTEMATIC PLANNING AND MONITORING
III. POWER CLUSTER
The personal motto of a successful entrepreneur is “ I
can “. He thinks that he can achieve things, he can convince and
influence people to his way of thinking.
A. Persuasion and Networking
B. Self Confidence
 CHARACTERISTICS OF A SUCCESSFUL
ENTREPRENEUR BASED ON PECS
WORDS TO STUDY
INTEGRITY- uprightness of character, honesty
INNOVATION- acts of introduction
OBSTACLE- a hindrance or obstruction in either physical or moral sense
OPPORTUNITY- a favorable or advantageous circumstance
PASSION- a powerful emotion, such as love joy
PERSISTENCE- act of persisting in any course or enterprise
RISK- the possibility of suffering harm or loss
CHARACTERISTICS AND QUALITIES OF A SUCCESSFUL ENTREPRENEUR
1. INTEGRITY- a successful entrepreneurs are rated “ being honest with everyone”
the number one factor of their business.
2. SELF DISCIPLINE- to become a successful entrepreneur you have to be highly
disciplined.
3. PEOPLE SKILLS- another critical factor among successful entrepreneurs is having
good people skills
4. STRONG WORK ETHICS- there's no substitute for hard work when it comes to
becoming a successful entrepreneur. To be successful, dedicate yourself to
persistent, productive and old-fashioned hard work.
5. PASSION- you need to be passionate and love your business.
6. STRONG LEADERSHIP QUALITIES- to become a successful entrepreneur you must
7. COMPETITIVENESS- competition is everywhere. In business, it is
the survival of the fittest
8. WELL-ORGANIZED- one of the main reason why small business
fail is lack of organization. Everyone can learn organization skills
with enough hard work, practice and persistence.
9. SALES ABILITY- the ability to convince others to make a conscious
decision is a key of becoming a successful entrepreneur “People
don’t buy for logical reasons. They buy for emotional reasons. Being
able to appeal to other people emotions is the key to selling your
ideas, products, or services.
ASSIGNMENT:
WHAT ARE THE BUSINESS
OPPORTUNITIES IN THE COMMUNITY ?