ENTREP M1 - between 90 and 120 minutes

- 8 to 10 participants per group

ENTREPRENEURSHIP- is innovating existing - semi-structure or open-format
products, services, methods to create better discussion
value SOCIETAL AND ECONOMIC BENEFITS OF
ENTREPRENEURSHIP
- is a proactive process of developing a
business venture to make a profit. 1. Entrepreneurship produces more jobs that
equate to an increase in national income
BUSINESSMAN & ENTREPRENEUR- are
often believed to have the same meaning 2. Entrepreneurship amplifies economic
activities of different sectors of society
- ENTREPRENEUR – “entre”= between
“prendre” = to take 3. Introduces new and innovative products and
-has the ability and extraordinary services
dedication to establish and
management a business. 4. Improves people's living standards

5. Disperses the economic power and creates

ENTREP M2
equality
SOCORRO RAMOS - working as a salesgirl in
6. Controls the local wealth and balances
a bookstore
regional development
LUCIO TAN- a janitor in a tobacco store.
7. Entrepreneurship reduces social conflicts
JOE MAGSAYSAY & EDGAR SIA- dropping and political unrest
out of school to pursue the life of an
8. Elicits economic independence and capital
entrepreneur
formation
ENTREP M4 FIVE LEVELS OF ENTREPRENEURIAL
DATA COLLECTION- most valuable tool of DEVELOPMENT ACCORDING TO ACTION
research study COACH

SURVEYS- most common way to gather 1. Self employed- people who do not work for
primary research of questionnaires an employer but find work for themselves, or
have their own business
INTERVIEW- most reliable and credible ways
of getting relevant 2. The manager- responsible for controlling or
information from target
administering all or part of a company or
customers -done
in personal between similar organization
researcher/entrepreneur and a
3. The leader- the person who leads or
respondent (15 to 40 minutes)
commands a group, organization, or country
2 TYPES OF INTERVIEW
4. The investor- investors look for more
1. PERSONAL INTERVIEWS- are the opportunities for their business to grow
traditional method of conducting an
interview. 5. The true entrepreneur- aim for quality and
2. TELEPHONE INTERVIEWS- are less excellence in their work. They have fully
expensive and less time consuming, learned, and continue to practice, a four-step
process of thinking-starting with idealization,
-the response rate is not as high as the
face-to- face interview, but higher than visualization, verbalization and materialization.
the mailed questionnaire.
TYPES OF ENTREPRENEUR
FOCUS GROUP DISCUSSION (FGD)
1. Technoprenuris- an entrepreneur who puts
- is an excellent method for generating
and screening ideas and concepts technology at the core of his or her business
- can be a moderated group interviews model
and brainstorming sessions
2. Social entrepreneur - is one who takes
advantage of the country's social problems and
turn them to profitable institution with the
intention of helping the disadvantaged
community rather than making a profit.

3. Intrapreneur- is an entrepreneur in a large

company or corporation who is tasked to think,
establish, and run a new big idea or project,
they usually the PRODUCT MANAGERS OR
THE BUSINESS DEVELOPMENT
MANAGERS OF A COMPANY

4. Extrapreneur - is an entrepreneur who hops

from one company to another to act as the
innovation champion, providing creative and
efficient solutions.

COMMON AND CORE COMPETENCIES IN

ENTRERPRENEURSHIP

1. Proactive- make things happen, instead of

waiting for them to happen to you

2. Agents of change- an individual or a group

of individuals who take initiative and
orchestrate changes within an organization

3. Risk takers- a person who is willing to do

things that involve danger or risk in order to
achieve a goal

4. Have a sharp eye for opportunities

5. Sociable- willing to talk and engage in

activities with other people

6. Networkers- a person who works from home

or from an external office via a computer
network

7. Decisive- settling an issue; producing a

definite resul

8. Balanced

9. Innovative- new and original

CORE TRAINS THAT ENTREPRENEUR

SHOULD DEVELOP IN MANAGING AND
RUNNING THE BUSINESS

1. Leaders

2. Communicators

3. Specialists

4. Problem solvers
 FOREIGN CORPORATION- organized under
the law of the foreign country but has the
authority to operate in the Philippines

LARGE BUSINESSES- are usually organized

as corporations.

6 NATURE OF ENTREPRENEURIAL
VENTURE

1. MERCHANDISING BUSINESS- the

buying and selling of products or goods
2. SERVICE- provides services to
customers

2 CLASSIFICATION OF SERVICE

1. NON-PROFESSIONAL
SERVICE- laundry shops, car
repair shops, beauty parlors, etc.
ENTREP M5 2. PROFESSIONAL SERVICE- law
3 FORMS OF ENTREPRENEURIAL offices, medical clinics, auditing
VENTURE and consultancy services

1. SOLE PROPRIETORSHIP- is a 3. MANUFACTURING- producer of goods

business venture by one person only
or products
2. PARTNERSHIP- owned by two or more
- “partners” -buying raw materials and
-profit / loss; results is divided supplies to be processed
into finished products
3. CORPORATION- formed by at least 5,
not more than 15 persons 4. AGRICULTURAL- production of
- can either be stock or non-
agricultural goods and
stock, profit or non-profit,
and domestic or animals
foreign 5. HYBRID BUSINESS- characteristics
- “INCORPORATORS”- forming and nature of combined
the corporation types of business entities
-produce and sell goods and at
CLASSIFICATION OF CORPORATION
the same time provide
1. STOCK CORPORATION- when its is services to customers
authorized to issue shares of stock to 6. SPECIAL CORPORATION- include
stockholders cooperatives, joint
2. NON-STOCK CORPORATION- not ventures, and non-profit
authorized to issue share of stock to the organizations
members
3 ELEMENTS IN THE PRODUCTION
STOCKHOLDERS OR SHAREHOLDERS-
owners of a stock corporation SYSTEM

MEMBERS- owners of a non-stock corporation 1. Input- The input includes the following:
1. Manpower
CERTIFICATE OF STOCK- evidence of 2. Materials
ownership of a corporation 3. Machine
4. Design
DOMESTIC CORPORATION- organized under
the laws of the Philippines 5. Instructions
 2. PRODUCTION PROCESS- 4. Capacity of the equipment
transformation of the final 5. Availability of spare parts in the
product with the aid of manpower local market
and machine 6. Efficiency of the equipment
It involves the following activities: 7. The skills required in running
1. Procurement or acquisition of the equipment
raw materials and 4. MATERIAL- refers to the raw materials
manufacturing supplies needed in the production of a product
FACTORS IN THE SELECTION OF
2. Inspection of materials and RAW MATERIALS
supplies upon receipt at 1. Cost
the receiving section 2. Quality
3. Availability
3. Storage of acquired materials 4. Credibility of suppliers
and supplies 5. Waste that the raw material
may produce
4. Issuance of materials and
supplies to the production ENTREP M6
line
1.) Primary considerations in choosing a
5. Inspection of damaged or
particular product
broken goods and
2.) Meet the needs of the customer and
assessment of losses
solve a specific problem.
3. )Produce the product that you are
6. Rework or repair of defective
capable of.
goods
4. )Consider the size of your potential
reachable market.
7. Transfer of finished gods to the
5. )Comply with government rules and
storeroom
regulations.
6. )Your product must be superior in its
3. OUTPUT- the final products from the
functionality, presentation or
production process and
marketing than any similar or existing in the
distributed to the
market.
customers
 Unique Selling Proposition- makes
4 M’S OF PRODUCTION
your product different than any other
1. MANPOWER- the human workforce
7.) Identify barriers that must be overcome
2. METHOD- converting raw materials to
for a potential new product entry
finished products
8.) Know the potential sales, growth, profits,
SELECTION OF THE METHOD
and time for payback.
1. product to produce
2. mode of production
SWOT Analysis- focus on possible
3. manufacturing equipment to
problem areas and potential advantages of
use
each idea
4. required skills to do the work.
INSIDE THE BUSINESS
3. MACHINE- equipment used in the
production of goods or delivery of services
1. STRENGTHS- give your
SELECTING THE TYPE OF
proposed business an
EQUIPMENT TO PURCHASE
advantage over similar
1. Types of products to be
business
produced
2. WEAKNESSES - aspects that
2. Production system to be
your business will not be
adopted
good at
3. Cost of the equipment
 OUTSIDE THE BUSINESS characteristics.

3. OPPORTUNITIES- potential
developments that will be 1.3 Concept Testing.
good for your business  Ideas which passed
4. THREATS - probable events screening stage will
that may affect your require feedback from
business negatively consumer.
 Measures consumer
PRODUCT LIFE CYCLE CONCEPT- enthusiasm by asking
describes a product’s sales, profits, etc. from reactions in pictures,
its beginning until it is removed and oral description of
- guide -> when would be the right time to start product.
the development process.
1.4 Business Analysis – a review
KEY STAGES IN THE LIFECYCLE of market factors, revenues, cost
and trends
1. PRODUCT DEVELOPMENT - your
product or service is only an idea. 1.5 Product Development - ideas
1.1 Idea Generation are converted into visible form

a. Brainstorming – 1.6 Test Marketing- selling a fully

sharing developed product in selected
ideas ,comments, area and observing the actual
suggestions of members performance.
b. Analyzing Existing
products- learn 1.7 Commercialization – actual
how market is captured marketing of the product in the
successfully target market
c. Visiting suppliers’
facilities – suppliers’ raw 2. INTRODUCTION - launching of
materials -> used as a product or service in the
method to innovate and marketplace and objective
modify existing product 3. GROWTH- sales are growing and
d. Surveys – get feedback profit margins are good
from customers and 4. MATURITY - sales growth is slowing
potential market. or has even stopped
e. Reading trade - reduce production and
publications – marketing costs
inspirational story of - increased competition has
successful entrepreneurs driven down prices
can be a basis of creating 5. DECLINE - new and improved
new product. products or services are on the
market
1.2 Idea Screening - Sales fall and profit margins
decline
 Ideas which are
unsuitable, EXTENSION STRATEGY - extend the lifecycle
unacceptable or poor of a product/service by investing
must be junked. - this only delays a product or service's
 rating form, rated 1-10 decline
in categories: general,
marketing and ENTREP M7
production
ENTREPRENEURSHIP- both an art & a Commitment to work, Risk taking,
science of converting ideas to Demand for efficiency and quality
marketable goods & 2. Planning cluster- Goal
services setting, Information seeking,
-creation of something new / different Systematic planning
ENTREPRENEURS- who launched their own 3. Power cluster- Persuasion
business from scratch and networking, Self-confidence

SOCIAL AND ECONOMIC IMPACT OF

10 CHARACTERISTICS OF AN ENTREPRENEURSHIP
ENTREPRENEUR
5 BENEFITS
1. Opportunity seeker- explores and
acts on new business 1. Entrepreneurship creates
opportunities employment- need to employ at
2. Persistent- formulates different least one or two to
alternatives to overcome possible
problems hundreds of other
3. Committed to a work contract- people
assumes full responsibility for job 2. Entrepreneurship improves
orders of customers the quality of life- contribute to
4. Risk takers- makes an effort to the continuous improvement of
evaluate advantages for a living standards
modern risk 3. Entrepreneurship
5. Competent and Hard worker- contributes to more equitable
aspires and works towards distribution of income and
quality performance therefore eases social unrest.
6. Goal setter- formulates specific, - continuous search,
measurable, attainable, reliable & time- identify and/or develop raw
bounded objectives materials needed for the
-formulates long term goals production of goods
7. Information Seeker- olicits 4. Entrepreneurship utilizes
information about clients, competitors, and mobilizes resources to
suppliers. make the country
8. Systematic Planner and Overseers- productive
evolves and implements step by step -Our country will develop
plans faster economically if none
9. Persuasive/Salesman- implements of its resources were
planned strategies to persuade or unused.
convinced others 5. Entrepreneurship brings
10. Self-confident- possesses strong social benefits through the
belief in self and in what he/she government.
accomplishes - entrepreneurs pay taxes
the government allocates
PERSONAL ENTREPRENEURIAL the disbursement of these
COMPETENCIES OR PECS- referred as revenues to
“competencies” different services

3 CLUSTERS

1. Achievement cluster-
Opportunity seeking, Persistence,