Entrepreneurial Mind ..Lesson 1

Intro d u c ti on t o
entr e pre n e ur sh ip
What is
entrepreneurship?
entrepreneurship
is a proactive process of developing venture to make a profit.
involves seeking opportunities for a market.
establishing and operating a business out of the opportunity.
assessing its risk and rewards through close monitoring of the

operation.
Concept of entrepreneurship
• The word entrepreneur was derived from

the French verb “ enterprendre” which
means to UNDERTAKE.
WHAT IS THE DIFFERENCE
OF ENTREPRENEUR AND
ENTREPRENEURSHIP?
An ENTREPRENEUR is a person who
starts a new business, and
ENTREPRENEURSHIP is the process of
starting and running that new business.

TWO MAJOR OF CHARACTERISTIS
RISK-TAKING
is the awareness that even though your business may not
turn out the way you expect it to, you’re willing to try anyway. often, this
willingness comes from weighing the risks against the potential rewards.
FORWARD THINKING
is tied to innovation, many times, entrepreneurship is fueled by the idea of

creating a better future. this can come from a new product that changes the way
people interact with the world; it can come from a new process that changes the way
businesses interact with consumers; it can come from an improvement to the way a
business operates within an established industry; or any other mechanism that can
make business better.
TYPES OF
BUSINESS
SMALL BUSINESS
ENTREPRENEURSHIP
takes place on a localized level, without the expectation of wide-

scale expansion.
Examples :Opening a local restaurant
Gift shop
Furniture restoration business.

SCALABLE START-UP
ENTREPRENEURSHIP
is a business largely guided by the idea of innovation that

begins on a small scale with long-term plans for widespread growth.
Examples : companies , facebook,starbucks

LARGE COMPANY
ENTREPRENEURSHIP
is a business sector launched within an established business. This can occur

either with an acquisition of another business or the creation of a new internal division.
refers to the business that have a global impact innovation, agility and startup
culture.
Examples: APPLE, MICROSOFT,NEFLIX

SOCIAL ENTREPRENEURSHIP
places a heavy emphasis on creating societal change. The overall goal is to benefit humankind
and our way of life, and it can occur on a local or global scale.
Examples :
Include seventh generation, a company guided by environmental responsibility, or grameen bank, a
microfinance institution that provides collateral-free small business loans to fuel socio-economic
development.
Factor affecting
entrepreneurship
1. Personality factors which include:
1.Initiative
doing things even before being told.
2. Proactive
Which means he can classify
opportunities and seize it.
3. Problem solver
Which means he can retain good
relations with other people.

4. PERSEVERANCE
MEANING HE WILL PURSUE THINGS

TO GET DONE REGARDLESS OF
CHALLENGES.
5. PERSUASION
MEANS THAT HE CAN ENTICE

PEOPLE TO BUY EVEN IF THEY
DON’T WANT TO.
6. A PLANNER
HE MAKES PLANS BEFORE
DOING THINGS AND DOES NOT
FAIL TO MONITOR IT.
7. RISK TAKER
WHICH MEANS THAT HE IS
WILLING TO GAMBLE BUT HE WILL
CALCULATE IT FIRST.
CAREER
OPPORTUNITIES IN
ENTREPRENEURSHIP
BUSINESS CONSULTANT
WITH THE EXPERTISE OF IN THE FIELD OF

ENTREPRENEURSHIP, HE CAN BE A GOOD SOURCE OF
ADVICES TO OTHER ENTREPRENEUR AND WOULD BE
BUSINESS MEN.
TEACHER
A GRADUATE OF AN
ENTREPRENEURSHIP CAN USE HIS
KNOWLEDGE IN TEACHING.
RESEARCHER
THE ENTREPRENEUR CAN BE

EMPLOYED AS A RESEARCHER BY AN
ENTERPRISE.
BUSINESS REPORTER
THE ENTREPRENEUR BEING

EXPERT IN THE FIELD, CAN BE
EMPLOYED AS A BUSINESS REPORTER.
WHAT ARE THE DIFFERENCE
OF ENTREPENEURSHIP AND
ENTREPRENEUR?
Important Career Entrepreneur Employee
Factors
 Income generated passively  Income generated actively(no
even when the entrepreneur is work= no pay).
1. Income resting.
 Opportunity income unlimited,
 Income usually fixed per
month and increases every
depending on the success of year depending on the
the business. employee’s performance.
 Income only earned when the  Income earned whether the
business is successful. business is successful or
unsuccessful.
Factors
 Provides jobs; is the owner of the  Seeks for job; is the one applying for a job
business and conducts the talent selection. and is interviewed by the company’s
2. Hiring and  Fully responsible for serving costumers,

making the business
hiring office.
 Has the goal of satisfying only the
Firing, profitable/sustainable, and providing

employee satisfaction.
employer or the direct supervisor.
 Fully independent on the employers
organization set  Has the power to disengage performance is at risk of losing his or her
up and major key nonperforming employees applying the

due process policy of disengaging
job if the company does not perform well;
may find it difficult to just leave their
result areas 
personnel.
Can venture into expansion of business
below part employer if this is the source of
income.
such as franchising and buying other  Can only work for current employer
similar businesses. exclusively.
Factors
 Performs all necessary variable

 Has routine tasks
tasks to establish and manage a
works on regular
3. DAILY
startup business, which usually
takes most of the entrepreneurs normal hours.
TASK
time; spend more hours on work
 Follows policies,
than a regular employee and
someone gets no sleep. procedures,
 Prepare policies, procedures and
memoranda from
memoranda for the business.
employer.
Factors
 Has a flexible  Has a limited number

4. LEISURE TIME schedule and can take vacation days imposed
AND VACATIONS
unlimited number of by the employer.
vacation days
(applicable only if the
business has stabilized
already)
Important Entrepreneur Employee
Career Factors
 Taxed on the net income;  Taxed on the gross
can claim taxable income income; cannot use
deductions for allowable expenses incurred related
5. Taxation expenses incurred by the

business.
to the job such as food
and transportation
expenses to claim for
deduction from taxable
income.
Factors
 Is comfortable in doing  May be comfortable with
multiple and challenging routines and minimal
6. Comfort tasks and takes risks; may also be
accountability with the comfortable in working
level and business; does not want to for the company itself.
work be confined in the box;

thinks outside the box or
sometimes thinks there is
a box.
WHAT ARE THE
IMPORTANCE OF
ENTREPRENEURSHIP
?
IMPORTANCE OF ENTREPRENEURSHIP
Entrepreneurship is important to society because it helps drive

innovation and moves us toward an improved state of being.
basically, when entrepreneurs take on risk, they are doing so
on behalf of their community at large.
THANK
YOU !

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Intro d u c ti on t o

is a proactive process of developing venture to make a profit.

involves seeking opportunities for a market.

establishing and operating a business out of the opportunity.

assessing its risk and rewards through close monitoring of the

• The word entrepreneur was derived from

starts a new business, and

ENTREPRENEURSHIP is the process of

starting and running that new business.

is tied to innovation, many times, entrepreneurship is fueled by the idea of

takes place on a localized level, without the expectation of wide-

Examples :Opening a local restaurant

Furniture restoration business.

is a business largely guided by the idea of innovation that

Examples : companies , facebook,starbucks

is a business sector launched within an established business. This can occur

Examples: APPLE, MICROSOFT,NEFLIX

Include seventh generation, a company guided by environmental responsibility, or grameen bank, a

Which means he can retain good

relations with other people.

MEANING HE WILL PURSUE THINGS

MEANS THAT HE CAN ENTICE

WITH THE EXPERTISE OF IN THE FIELD OF

THE ENTREPRENEUR CAN BE

THE ENTREPRENEUR BEING

2. Hiring and  Fully responsible for serving costumers,

Firing, profitable/sustainable, and providing

up and major key nonperforming employees applying the

 Performs all necessary variable

 Has a flexible  Has a limited number

5. Taxation expenses incurred by the

work be confined in the box;

Entrepreneurship is important to society because it helps drive

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