ENT PS Unit1 Lesson2 Final

Unit 1: Understanding the Concept of Entrepreneurship
Lesson 2
Core Competencies in
Entrepreneurship
Entrepreneurship
Senior High School Applied - Academic
What should be the
characteristics of
entrepreneurs in order to
sustain the profitability of
their business?
ENGAG EXPLOR EVALUAT

EXPLAIN EXTEND 2
Learning
Objective
Explain the core competencies in
At the end of the entrepreneurship.
lesson, you should be
able to do the
following:

EXPLAIN EXTEND 33
What is your favorite
restaurant?

EXPLAIN EXTEND 4
Why do you
like their
products and
services?

EXPLAIN EXTEND 5
Core Competencies
defining characteristics
that make a business or
an individual stand out
from the competition

EXPLAIN EXTEND 6
3 General Conditions in Core Competencies
1. The activity must
provide superior
value or benefits to
the consumer.
2. It should be difficult
for a competitor to
replicate.
3. It should be rare.

EXPLAIN EXTEND 7
A core
competence is
something
unique that a
business has or
can do
strategically well.

EXPLAIN EXTEND 8
Core Competencies of Entrepreneur
1. Entrepreneur as a
missionary
2. Entrepreneurs are
goal-driven

EXPLAIN EXTEND 9
Core Competencies of Entrepreneur
3. Entrepreneur as a
marketing man
4. Entrepreneurs start
small to big

EXPLAIN EXTEND 10
What are the factors that develop
entrepreneurial activity?
11
Factors that Develop Entrepreneurial Activity
Entrepreneur’s initiative
Organization of capital resources
Development of administrative machinery
Development of entrepreneurial autonomy
Development of SWOT analysis

EXPLAIN EXTEND 12
Remember
SWOT (Strengths, Weaknesses,

Opportunities, and Threats) is a
tool used in evaluating a business.
Entrepreneurs should know how
to analyze their business using
this tool.
13
Example
A young entrepreneur, who

has a business offering
milk tea, wants to evaluate
his business in order to
know the challenges
encountered and identify
new markets.

EXPLAIN EXTEND 14
14
Examples
Internal Elements Answers
Strengths ● unique taste

● quality ingredients
● friendly staff
Weaknesses ● low profits

● no business website
● less offerings than competitors
EXPLAIN EXTEND 15
15
Examples
External Elements Answer
Opportunities ● market boom

● expansion of branches
● can implement a loyalty program
Threats ● rising cost of ingredients

● negative reviews
● increasing number of competitors
EXPLAIN EXTEND 16
16
The Making of a Filipino Entrepreneur
Most Filipinos start a

business when they see
that other businesses
are profitable.

EXPLAIN EXTEND 17
17
Remember
All growth starts from the

beginning. The same applies to
the world of business. There are a
lot of entrepreneurs who start
their business from a small
enterprise into a big company.
18
Activity
“A journey of a thousand miles begins with a

single step”. Explain your point of view on the
saying.
Answer the questionnaire in the Extend part of

the study guide.
EXPLAIN EXTEND 19
Questions
Part A. Explain the meaning of the following statements.

1. Entrepreneur as a missionary.
2. Entrepreneur as a marketing man.
3. Entrepreneurs are goal-driven.
4. Entrepreneurs start from small to big.
5. Entrepreneur is excellent in obtaining resources.
EXPLAIN EXTEND 20
Questions
Part B.
1. Why do core competencies matter to every business
and entrepreneur?
2. How do entrepreneurs determine the core
competency of their business?
3. Why are entrepreneurial competencies considered as
entrepreneurial distinctive?

EXPLAIN EXTEND 21
Wrap Up
Core Competencies are the defining

characteristics that make a business or an
individual stand out from the competition.
A core competence is something unique that a

business has or can do strategically well.
22
Wrap Up
An entrepreneur must be equipped with the

following core competencies so that his planned
business will really stand out among other
competitors.
23
Wrap Up
24
Bibliography
“Are you an entrepreneurial missionary or mercenary?” Edology. Accessed from March 8,

2020. https://www.edology.com/blog/business/entrepreneur-missionary-or-mercenary/.
“Eight successful Filipino entrepreneurs who started small.” Business Inquirer. Accessed
from March 8, 2020.
https://business.inquirer.net/273445/eight-successful-filipino-entrepreneurs-who-started-s
mall
.
Kotler, Philip & Gordon McDougall. Marketing Essentials. Prentice-Hall Canada Inc., 1985.
Peters, Michael & Robert Hisrich. Entrepreneurship 4th Edition. McGraw-Hill Book Co., 1999.
25

ENT PS Unit1 Lesson2 Final

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Unit 1: Understanding the Concept of Entrepreneurship

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

Organization of capital resources

Development of administrative machinery

Development of entrepreneurial autonomy

Development of SWOT analysis

SWOT (Strengths, Weaknesses,

A young entrepreneur, who

ENGAG EXPLOR EVALUAT

Strengths ● unique taste

Weaknesses ● low profits

Opportunities ● market boom

Threats ● rising cost of ingredients

Most Filipinos start a

ENGAG EXPLOR EVALUAT

All growth starts from the

“A journey of a thousand miles begins with a

Answer the questionnaire in the Extend part of

Part A. Explain the meaning of the following statements.

ENGAG EXPLOR EVALUAT

Core Competencies are the defining

A core competence is something unique that a

An entrepreneur must be equipped with the

“Are you an entrepreneurial missionary or mercenary?” Edology. Accessed from March 8,

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