Lesson 1

Entrepreneurship refers to the individual's ability to start a new business, to introduce new products,
and to improve management techniques.

History of Entrepreneurship in the Philippines

Early Filipinos interact to the foreign traders of:
-Indonesia
-Malaysia
-China

Barter system has been the way of starting business trades. But, it has been moved to money
economy.

The system change in Philippine society, economy, education, and the politics have been occurred in
colonization of:
-Spain
-United States
-Japan

After the conflict, the government realized the essence of entrepreneurship to all.

1935
-Small Medium Enterprises (SMEs) became the framework of entrepreneurship with the policies and
regulations started

1970'S
-Intensification of entrepreneurship development; SME sector was given emphasis in Philippine
Development Plan (1972-1976)

1987
-The Constitution reinforced the commitment for the development of the private sector

1991
-Magna Carta for Small Enterprises

1995
-R.A. 7882, the Act Providing Assistance to Women, recognizes the role of women in development
CREATED and entrepreneurship

Advantages
-We manage our own time
-We have the capacity to work wherever we want, whenever we start
-We have a very flexible schedule
-We have the capacity to set a salary which is high, to the top most
-We can exciting experience and fulfilling experience
-We learn a lot
-We set our own schedule
-We go exponentially not just only with our self but also with our income
-We can define our own goals
-We can work whatever we want

Disadvantages
-If the business goes low and the income will be at risk especially with a longer working hour,
working schedule of an entrepreneur would be very unpredictable, the work life balance would be
tricky, and it is not fixed
-Income is unpredictable
-Salary is not guaranteed stable

10 ways to make passive income 2017

Advantages
1. Make your own schedule (kind of)
2. No handcuffs that limit your money making ability
3. Your eyes are opened to the possibilities

Disadvantages
1. Uncertain future
2. Short term pain big time
3. No healthcare help expenses you have to pay, no 401k match

ENTREPRENUERSHIP
-a creative initiative of setting up business to meet the needs of consumers in the hope of getting
profit from it.

AN ENTREPRENUER
-a person who manage the business and who decides for the organization.

ENTREPRENUERSHIP START FROM

-interact with foreign traders like Indonesia, Malaysia, China and a system has been the way of
starting business trades
-BARTER SYSTEM which means from prehistoric times when people traded goods and services.
Exchanging something for value was considered an entrepreneur.
-The system change in the Philippines society, economy. education and the politics has been
occurred in colonization of SPAIN, UNITED STATES AND JAPAN.

ADVANTAGES OF VENTURING INTO ENTREPRENUERSHIP

-Independence
-Flexibility
-Challenge
-Direct payoffs
-Unlimited earnings

DISADVANTAGES OF VENTURING INTO ENTREPRENUERSHIP

-No regular monthly salary
-Unpredictable schedule
-Risky

Barter System
-exchanging something for value

Advantages of Entrepreneurship
1. Independence
2. Flexibility
3. Challenge
4. Direct payoffs
5. Unlimited earnings

Disadvantages of Entrepreneurship
1. No regular monthly salary
2. Unpredictable schedule
3. Risky

Lesson 2
ECONOMY
-the process or system by which goods and services are produced, sold, and bought in a country or
region.
-something that makes it possible for you to spend less money

MONEY
-is what many people receive for selling their own things or services.

-ENTREPRENEURSHIP IN THE CONTEXT OF SMALLAND MEDIUM SCALE ENTERPRISES

-ROLE OF ENTREPRENEURSHIP IN ECONOMIC GROWTH
-SOME CONCEPTS RELATED TO ECONOMIC GROWTH

MSME’s

Entrepreneurship is categorized based on the asset size

What is the role of entrepreneurship in economic growth?
-entrepreneurship increases the country’s per capital income.
-entrepreneurship creates jobs.
-entrepreneurship meets consumer demands.
-entrepreneurship provides social services
-entrepreneurship links industries

-entrepreneurship creates new markets

ECONOMIC CONCEPTS
-LAISSEZ-FATRE ECONOMY
-KEYNESIAN ECONOMIC
-THEORY OF COMPARATIVE ADVANTAGE
-CONSUMPTION AND PRODUCTION

LAISSEZ-FATRE ECONOMY
-French word meaning “leave us alone” or “to allow to do”

KEYNESIAN ECONOMIC
-John Maynard Keynes - a British economist believed that government could intervene in the
economy and affect the level of output and employment
-"regulate consumption and investment to boost economic growth"

THEORY OF COMPARATIVE ADVANTAGE

-David Ricardo - a British economist
-"a country must specialize in what it does best and trade with other countries for goods that is does
not produce "

CONSUMPTION AND PRODUCTION

-HOUSEHOLDS (consumers) demand goods and services that FIRM (business Enterprises) produce
--FIRM (business Enterprises) need land, labor, and capital to produce those goods and services.

SUMMING IT UP
•Micro-small and medium scale enterprises are defined by these asset base and numbers of workers
they have.
•Entrepreneurship contributes to economic growth by increasing the country's per capita income,
creating jobs, meeting consumers needs, providing social services, linking industries, and creating
new markets.
•Some common economic concepts are the laissez-faire economy, Keynesian economics, theory of
comparative advantage, and consumption and production.

Lesson 3 Entrepreneurship Models

Entrepreneur
-One who organizes, manages and assumes the risk of a business or enterprise -new movers and
shakers of contemporary society

Entrepreneur
-HENRY SY
-JULEE GANDIONGO
JANE MANANSALA
-MARX MELENGO
-ALVIN ONG

TAKE NOTE OF THE FOLLOWING QUESTIONS.

1. Identify their big idea” or main concepts.
2. Identify characteristics or traits that they exhibited.

"There is no such thing as overnight success or easy money. If you fail, do not be discouraged; try
again. When you do well, do not change your ways.
- Henry Sy -

"If you can manage one business efficiently, there is no reason why you can't with two or three. All
you have to do is duplicate what you are doing. This just need good organization hard work and a lot
of prayers."
-Julie Gandionco-
Julie's Bakeshop

“DTI invited me to their seminars – accounting for non-accountants, branding, costing, etc. – all for
free!
-Jane Manansala-

“AI Technology Empowering Persons with Disabilities”

-Marx Melencio-

Summary
-Each one of them with different backgrounds, ages, characteristics, styles and businesses.
-Henry Sy is responsible for developing SM from a shoe store into a very large diversified group of
companies that is into retail, real estate, recreation, and banking industries.
-Julie Gandionco is an example of how a Filipino housewife honed her sidelines and inborn
entrepreneurial skills into a wide chain of bakeshops.
-Marx Melencio rose from his physical handicap of blindness to build an information technology and
management services business that employs disabled and handicapped people.
-Alvin Ong is an example of a young entrepreneur who combined his culinary skills with his business
education to create his own innovation on street food.

Lesson 4 Entrepreneur’s Personality: Characteristics and Traits

Characteristics and Traits
According to researchers Lambing and Khuel

CHARACTERISTICS
>PASSION FOR BUSINESS
• refers to the eagerness to be involved in commercial activities

“Without passion, you dont have energy. Without energy, you have nothing.”
-Warren Buffet, World's Richest Billionaire, owner and founder, Berkshire Hathaway Securities.

>TENACITY DESPITE FAILURE

• Eagerness to get up and persevere with the effort of staying on course with the business.

"Nothing in the world can take the place of persistence. Nothing is more Gommon than unsuccessful
men with talent. The world is full of educated derelicts. Only persistence and determination alone
are omnipotent.”
-Ray Kroc founder, McDonalds

>CONFIDENCE
• Is a must-having trait for entrepreneurs, who should possess that belief in themselves and their
capabilities to see things through and get things done.

>SELF-DETERMINATION
• Is the belief that one's fate or destiny lies really on one's self-his beliefs, efforts and actions.
>MANAGEMENT OF RISK
-Know how to take risks but these risks are calculated risks that are well thought out and
considered.

>SEEING CHANGES AS OPPORTUNITY

• While most people will see change as inconvenience, a threat or a disaster, most entrepreneurs see
change as a opportunity.

>TOLERANCE FOR AMBIGUITY

• When starting a business, many things are still undefined and evolving
• Thrive in this relative vagueness and looseness, and enjoy the challenge of creating the parameters
and standards as they move along.

>INITIATIVE AND NEED FOR ACHIEVEMENT

• Have great need to achieve things and to have accomplishments
• They are highly motivated to create goals and reach them.

>EYE FOR DETAILS

-Knowing the importance of the little things that can determine the quality of a product or service,
commitment in a personal or business relationship and other matters.

>CREATIVITY
-Entrepreneur have often been said to be creative because they are not satisfied with just coping or
doing the same routine out the same product.

>SEEING THE BIG PICTURE

-Able to assess how particular decisions about operations or human resources can affect the other
aspects of the business.

>HAVING SEVERAL MOTIVATING FACTORS

-Complex creatures who are motivated by many factors, aside of course from the basic monetary
ones.

>GOAL SETTING
-Goals are usually measurable and objective.
-Make clear goals that are realistic and achievable.

>FLEXIBILITY
-They should be flexible in their decision making and actions, especially in the early stages of the
business, since things are still evolving.

CHARACTERISTICS AND TRAITS

According to Philippines researchers Small Enterprise research Development foundation at the
department of trade and industry (DTI)

10 PERSONAL ENTREPRENEURIAL CHARACTERISTICS (PECS)

GROUPED INTO THREE AREAS
-ACHIEVEMENT CLUSTER
-PLANNING CLUSTER
-POWER CLUSTER

>ACHIEVEMENT CLUSTER
-OPPORTUNITY SEEKING
-PERSISTENCE
-COMMITMENT
-RISK TAKING
-EFFICIENCY AND QUALITY ORIENTATION

>PLANNING CLUSTER
-GOAL SEEKING
-INFORMATION SEEKING
-BEING SYSTEMATIC IN PLANNING AND MONITORING

POWER CLUSTER
-BEING PERSUASIVE AND GOOD IN NETWORKING
-HAVING STRONG SELF-CONFIDENCE

Lesson 5