Entrepreneur - entreprendre means
undertake. Person who practices
concepts and principles of
entrepreneurship
Entrepreneurship - art of knowing and
observing correct practices in
managing and operating a business
- No universally accepted
definition of entrepreneurship
Small Business - practices principles
of entrepreneurship, owned by one
person, not more than 20 person
(workforce)
Ordinary Business - managed by an
owner who does bot practice principles
of entrepreneurship. Found almost
everywhere
- Marami sa phil kase ito yung
most convinient way para maka
earn for a living
- Di need ng big amount of
money to start up
Businessman - someone who
ventures in business without practicing
principles of entrepreneurship
Salient features of Entrepreneurship
1. It is an art of correct practices
2. It is wealth-creating venture
3. It provides valuable goods and
resources
4. It entails opening and managing
a self enterprise
5. It is risk-taking venture
Fundamental Core Competencies
and Skills
1. Cognitive Skills - learn to
apply new information, the
ability to create new ideas,
innovate and solve problems
2. Technical Skills - technical
domains, information
technology finance skills
3. Interpersonal Skills -
understanding
Trait
1. Achievement Cluster - related
to desire opportunity seeker risk
taker
2. Planning Cluster - supports
achievement cluster goat setter,
info seeker, planning monitoring
3. Power Cluster - reflect on
intrapersonal skills, persuasive
positive self confident
Theory and Theorist
1. Joseph Schumpeter -
Innovation theory (innovate)
2. John Maynard Keynes -
Economic Development (role of
government)
3. Alfred Marshal - Production
Theory (land labor capital
organization factors)(possible
change in supply and demand
patterns)
4. Frank Hyneman Knight - Risk
and Uncertainty Bearing Thoery
(asset of the production
connects producers and
consumers)
5. Nichola Kaldor - Technological
Theory (without tech babagal
den economic growth)
6. Max Weber - Sociological
Theory (social cultures primary
drive element of entre)
7. Harvey Leibenstein - Gap
filling Theory (responsible for
knowing trends sa market)
8. Israel Kirzner - Learning
Alertness Theory (alert in
recognizing opportunities)
Market Segmentation
1. Geographic - regions
2. Demographic - gender age
income occupation religio etc
3. Physcological - needs and
wants attitude social class,
lifestyle brand concept
4. Behavioral - perceptions
knowledge reaction benefits