ENTREPENEURSHIP

EntrepreneurshipI is described as the process of designing, launching and running a new business, which
is often initially a small business, or as the "capacity and willingness to develop, organize and manage a
business venture along with any of its risks to make a profit."

Entrepreneurship is the activity of setting up a business or businesses, taking on financial risks in the hope
of profit.

An entrepreneur is an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards.

An entrepreneur is a person who starts a new business and usually risks his own money to start the
venture.

 Entrepreneurs who prove to be successful in taking on the risks of a startup are rewarded with profits,
fame, and continued growth opportunities

Examples of well-known entrepreneurs include Bill Gates, Steve Jobs, Mark Zuckerberg, Pierre Omidyar,
Arianna Huffington and Caterina Fake.

Important characteristics of successful entrepreneurs include risk taking, creativity, initiative, problem

solving, organizational skills, communication and independence.

Four distinct types of entrepreneurial organizations;

1. small businesses 

2. scalable startups 

3. large companies  

4. social entrepreneurs. 

Small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer

employees and/or less annual revenue than a regular-sized business or corporation

Small businesses in many countries include service or retail operations such as convenience stores,
small grocery
stores, bakeries or delicatessens, hairdressers or tradespeople (e.g., carpenters, electricians), restaurants, gues
t houses, photographers, very small-scale manufacturing, and Internet-related businesses such as web
design and computer programming.

Scalable startup entrepreneurship can be defined as a business model where an organization is started
on the basis of a unique idea. It involved everything that ranges from creating a plan to all the way up
launching the business. This form of Entrepreneurship involved a great sort of work, education, and
experience.

A “scalable startup” takes an innovative idea and searches for a scalable and repeatable
business model that will turn it into a high growth, profitable company. Not just big but huge. It does
that by entering a large market and taking share away from incumbents or by creating a new market
and growing it rapidly.
This type of entrepreneurship commences with a vision that they can make some changes in the world. Their
investment comes from the venture capitalist as well as by employing efficient employees. Their goal is to
find out the repeatable and scalable business model. Once they find that model, they further started raising
funds from venture capitalists for the growth of the business. A small proportion of all trades are made up of
scalable startups because of the risk capital and outsize return. Facebook, Instagram and online shopping for
electronics are the few examples of the scalable startup business.

Here are two things that are required for the growth of the business which is the amount of capital
investment and the kind of human resources needed.

1. Amount of Capital: Capital is king in the field of business. Every business model requires funding
for marketing or building infrastructure for the smooth running of the business. For instance,
building retail stores, a power plant or designing of the website.

2. Human Resource: Two kinds of people are required to develop the business efficiently. For day to
day tasks, common people with no higher education can be preferred to do tasks such as packaging,
delivery men, and drivers and so on. However, experts are required for complex tasks with specific
education, knowledge and experience. To exemplify, surgery, operations, etc.

Large Company Entrepreneurship can be defined as organizations that have a solid set of life cycles.
There is a solid involvement of sustaining innovation providing new sort of products. ... In simple language,
it means the creation of new business within the present organization.

Generally, large businesses are those in most mining and manufacturing industries that employ 500 or more
individuals, or those that do not manufacture goods and have an average of $7 million in annual receipts.
There are exceptions to these standards in some industries

Social entrepreneurship is an approach by individuals, groups, start-up companies or entrepreneurs, in

which they develop, fund and implement solutions to social, cultural, or environmental issues.[1] This
concept may be applied to a wide range of organizations, which vary in size, aims, and beliefs.

Social entrepreneurship is, at its most basic level, doing business for a social cause. ... Others say business
owners who work to solve a social problem using grant or government money are also social entrepreneurs

6 personality characteristics of a good social entrepreneur

• Creativity. The ability to think differently, to find innovative solutions where others do not see any
change possible is a gigantic quality to lead a social enterprise. ...

• Self-confidence. ...

• Perseverance. ...

• Leadership. ...

• Team spirit/solidarity. ...

• Adaptability.

7 Characteristics of Successful Entrepreneurs

• Self-Motivation. One of the most important traits of entrepreneurs is self-motivation. ...

• Understand What You Offer. As an entrepreneur, you need to know what you offer, and how it fits
into the market. ...

• Take Risks. ...

• Know How to Network. ...

• Basic Money Management Skills and Knowledge. ...

• Flexibility. ...

• Passion

5 pesrsonal characteristics of an entrepreneur

• motivation is willingness of action especially in behavior

•  perseverance is continuing in a course of action without regard to discouragement, opposition or

previous failure.

• Team spirit is an attitude that enables people to work well together. It's about camaraderie,
cooperation and collaboration between different members of the organization. 

• Adaptability is the quality of being able to adjust to new conditions.

"adaptability is an advantage in the harshly competitive global economy"

• Self Confidence is a feeling of trust in one’s abilities, qualities and judgment

MEANING OF EPP
What is Home Economics and Livelihood Education?

As part of a Secondary Preparatory School, the Home Economics and Livelihood Education (HELE)

aims: to develop in the students logical, critical, and creative way of thinking; to help them acquire basic
skills in problem solving of actual situations

Why is Home Economics and Livelihood Education Important?

Technology and Livelihood Education: Its Importance to Students' Future. ... Taking courses in

TLE/Home Economics at school allow students to acquire the necessary decision making, social, and
communicative skills which are important for occupational success

Home economics also teaches students how to be savvy consumers. It helps students learn how to
budget and spend their money wisely. This class teaches things that teens, who are growing into
adulthood, should utilize in their everyday life, like patience, attentiveness, situational awareness, etc

What are the benefits of studying home economics?

Home economics also teaches students how to be savvy consumers. It helps students learn how to
budget and spend their money wisely. This class teaches things that teens, who are growing into
adulthood, should utilize in their everyday life, like patience, attentiveness, situational awareness, etc

What are the five importances of home economics?

It helps to teach individuals how to live well In their environment. It helps the Individual to get prepared
for the role of a home-maker. Individuals who study Home Economics can take up careers
In home management, food and nutrition, clothing and textile

What are the 7 branches of Home Economics?

• Cooking. Since food preparation was central to homemaking, cooking is one of the earliest
disciplines in home economics. ...

• Child Development. ...

• Education and Community Awareness. ...

• Home Management and Design. ...

• Sewing and Textiles. ...

• Budgeting and Economics. ...

• Health and Hygiene

Home economics, also known as family and consumer sciences, is a field of education, which concerns
itself with management and economics of the community and home. Although it was mostly meant for
girls and young women, these days, all genders are involved in home economics classes. Read
more: https://www.legit.ng/1118649-what-home-economics.html

Teaching E.P.P. means teaching facts, concepts, skills and values in their entirety. E.P.P. by its nature is
a skill subject, hence we teachers must engage pupils in an experiential, contextualized and authentic
teaching-learning process. It is a subject in which pupils learn best by doing.

Edukasyong Pantahanan at Pangkabuhayan (E.P.P.) covers Entrepreneurship, Information and

Communication Technology (I.C.T.), Home Economics (H.E.), Agriculture (AG) and Industrial Arts
(I.A.). It is geared towards the development of technological proficiency and is anchored on knowledge
and information, skills and processes, and the acquisition of proper work values and life skills

EdukasyongPantahanan at Pangkabuhayan equips pupils with skills for lifelong learning. It is focus on
mastery of skills and processes, without right work values it is anemic and dangerous. An effective
E.P.P. is one that is founded on the cognitive, behavioral, or psychomotor and affective dimensions of
human development. Therefore teaching E.P.P. means teaching facts, concepts, skills and values in their
entirety.

E.P.P. by its nature is a skill subject, hence we teachers must engage pupils in an experiential,
contextualized and authentic teaching-learning process. It is a subject in which pupils learn best by
doing.

It is geared towards the development of technological proficiency and is anchored on knowledge and
information, skills and processes, and the acquisition of proper work values and life skills. ... means
teaching facts, concepts, skills and values in their entirety.
 What is the meaning of ICT?
Information and Communication Technologies

(ICTs) is a broader term for Information Technology (IT), which refers to all communication
technologies, including the internet, wireless networks, cell phones, computers, software, middleware,
video-conferencing, social networking, and other media applications and services 

What is the definition of ICT in education?

Information and Communication Technology (ICT) in education is the mode of education that use

information and communications technology to support, enhance, and optimise the delivery of
information. Worldwide research has shown that ICT can lead to an improved student learning and
better teaching methods.

What are the types of ICT?

Each of the different ICTs—print, audio/video cassettes, radio and TV broadcasts, computers or the
Internet—may be used for presentation and demonstration, the most basic of the five levels. Except for
video technologies, drill and practice may likewise be performed using the whole range of technologies

What is the advantage of ICT?

Speed/time and money can be saved because it is much quicker to send/share information around.

Communication is more efficient to contact either business partners or friends and family members all
over the world. ICT expands availability for communications

What is ICT and examples?

Information and Communication Technology or “ICT,” includes products that store, process, transmit,
convert, duplicate, or receive electronic information. ... Electronic textbooks, instructional software,
email, chat, and distance learning programs are also examples of ICT.

Examples of ICTs

Each of the different ICTs—print, audio/video cassettes, radio and TV broadcasts, computers or the
Internet—may be used for presentation and demonstration, the most basic of the five levels. Except for
video technologies, drill and practice may likewise be performed using the whole range of technologies.

IMPACT OF ICT ON TEACHING AND LEARNING PROCESS IN THE 21ST CENTURY

For education, the purpose of ICT is generally to familiarize students and teachers with the use and
workings of computers, related social and ethical issues. It is generally believed that ICT can empower
both teachers and learners. It promotes change to education in 21st century. ICT not only transforms
teaching but also the learning processes

The transformation gets to increase learning gains for students that provide learners an opportunity to
develop creativity, communication skills, and other thinking skills. Besides, smart solutions for the
future including laptop learning, e-learning, smart classrooms, didactic equipment and stimulations is the
key to education today.

HOME ECONOMICS
 Industrial Arts is defined as the study of the skills needed to work with tools and machinery.

An example of Industrial Arts is a welding class.

What are the 5 industrial arts?

Industrial Arts

Original Industrial Arts Interim Arts Advanced Arts

Carpentry / Joinery Electrical Accounting

Metalwork / Smithing Plumbing CAD

Masonry / Pottery Welding Control Systems / Electronics

Upholstery / Sewing Mechanics / Power Transmission Programming

What is the importance of industrial arts in education?

The primary role of Industrial Arts education is to expose students to a variety of industrial and
engineering technologies that improve their understanding of the industrial and engineered world

What are the benefits of industrial arts?

Another positive asset of industrial arts is confidence building, which spills over into other parts of a
child's education and life. Learning to use tools properly under guided supervision is empowering to not
only boys but in an important way, girls too

Home Economics is a subject which focuses on improving the quality of life of individual and families
within their environments, and promoting a higher quality of life within the environment

Why is Home Economics an important subject for high schools?

Not only does home economics teach students about cooking and safety but it also builds responsibility. It
teaches teens to use the techniques they learned in class in their home life. When teens learn how to take
care of their household and themselves, it helps them to become more responsible at home

What is the aim of home economics in school?

The objectives of Home Economics are: (1) to help students prepare them- selves for home and family
living; (2) to provide certain experiences which are preparation for professional home
economics employment; (3) to provide the home economics education curricula which will qualify the
person to meet requirements of the ...

Technology and Livelihood Education: Its Importance to Students' Future. ...

Taking courses in TLE/Home Economics at school allow students to acquire the necessary decision

making, social, and communicative skills which are important for occupational success.

As part of a Secondary Preparatory School, the Home Economics and Livelihood Education (HELE)

aims: to develop in the students logical, critical, and creative way of thinking; to help them acquire basic
skills in problem solving of actual situations: and
Why is tle important in everyday life?
Technology and livelihood education in the global community is a subject that helps student to be trained
it daily aspects of life and learn daily works of our daily living. It just not helps student but people who
need the knowledge of it. It develops our skills that will helps us in the present time and the near future

What are the 4 areas of TLE?

It is composed of four (4) major livelihood component areas, namely Home Economics (HE), Agriculture
and Fishery Arts (AFA), Industrial Arts (IA) and Information and Communication Technology (ICT).
Entrepreneurship is integrated in all areas in TLE and its components

What is the meaning of livelihood in TLE?

means to secure basic needs in life
Livelihood, on the other hand, is defined as the means to secure basic needs in life. It is based on
individuals, family and other social groups. There are two types of curriculum provided: Technical-
Vocational Education-based TLE and entrepreneurship Education-based TLE

What is ICT strand?

Information Communication and Technology or ICT strand is one of the strands offered in the Technical-
Vocational-Livelihood (TVL) Track in senior high school. It is designed to provide you with the technical
skills and knowledge in using tools and equipment that allows people to interact in the digital world

Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with
any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the
starting of new businesses.

The entrepreneur is defined as someone who has the ability and desire to establish, administer and succeed
in a startup venture along with risk entitled to it, to make profits. The best example of entrepreneurship is the
starting of a new business venture. The entrepreneurs are often known as a source of new ideas or
innovators, and bring new ideas in the market by replacing old with a new invention.

Entrepreneurship refers to the process of creating a new enterprise and bearing any of its risks, with the
view of making the profit. The person who creates a new enterprise and embraces every challenge for its
development and operation is known as an entrepreneur.

Characteristics of Entrepreneurship:
Not all entrepreneurs are successful; there are definite characteristics that make entrepreneurship successful.
A few of them are mentioned below:

 Ability to take a risk- Starting any new venture involves a considerable amount of failure risk.
Therefore, an entrepreneur needs to be courageous and able to evaluate and take risks, which is an
essential part of being an entrepreneur.
 Innovation- It should be highly innovative to generate new ideas, start a company and earn profits
out of it. Change can be the launching of a new product that is new to the market or a process that
does the same thing but in a more efficient and economical way.
 Visionary and Leadership quality- To be successful, the entrepreneur should have a clear vision of
his new venture. However, to turn the idea into reality, a lot of resources and employees are required.
Here, leadership quality is paramount because leaders impart and guide their employees towards the
right path of success.
  Open-Minded- In a business, every circumstance can be an opportunity and used for the benefit of a
company. For example, Paytm recognised the gravity of demonetization and acknowledged the need
for online transactions would be more, so it utilised the situation and expanded massively during this
time.
 Flexible- An entrepreneur should be flexible and open to change according to the situation. To be on
the top, a businessperson should be equipped to embrace change in a product and service, as and
when needed.
 Know your Product-A company owner should know the product offerings and also be aware of the
latest trend in the market. It is essential to know if the available product or service meets the
demands of the current market, or whether it is time to tweak it a little. Being able to be accountable
and then alter as needed is a vital part of entrepreneurship.

Importance of Entrepreneurship:

 Creation of Employment- Entrepreneurship generates employment. It provides an entry-level job,

required for gaining experience and training for unskilled workers.
 Innovation- It is the hub of innovation that provides new product ventures, market, technology and
quality of goods, etc., and increase the standard of living of people.
 Impact on Society and Community Development- A society becomes greater if the employment
base is large and diversified. It brings about changes in society and promotes facilities like higher
expenditure on education, better sanitation, fewer slums, a higher level of homeownership.
Therefore, entrepreneurship assists the organization towards a more stable and high quality of
community life.
 Increase Standard of Living- Entrepreneurship helps to improve the standard of living of a person
by increasing the income. The standard of living means, increase in the consumption of various
goods and services by a household for a particular period.
 Supports research and development- New products and services need to be researched and tested
before launching in the market. Therefore, an entrepreneur also dispenses finance for research and
development with research institutions and universities. This promotes research, general
construction, and development in the economy.

 Entrepreneurship is important as it has the ability to improve standards of living and create wealth, not
only for the entrepreneurs, but also for related businesses. Entrepreneurs also help drive change with
innovation, where new and improved products enable new markets to be developed

5 Advantages of Entrepreneurship

 Learning To See Possibilities Everywhere. When you have to rely on yourself and your imagination
in order to generate income, this awareness goes with the territory. ...
 Defining Your Income. Who decides how much you're getting paid? ...
 Flexibility In Your Schedule. ...
 Enjoying Your Work. ...
 Learning To Be In The Moment

What is disadvantage of entrepreneurship?

Entrepreneurs possess personal traits and behaviors which could harm their roles as managers or workers.
Thus, Entrepreneurs are often known as risk takers