KEY NOTES FOR ENTREP 2.

Agents of change – improve and develop new

08/27/23 product, no to mediocrity and status qou
What is Entrepreneurship? 3. Risk Takers
-proactive process of developing a business venture to make 4. Having sharp eye for opportunities
a profit. 5. Sociable – soft skills, relationship
By how? 6. Networkers- key people to connect
-seeking opportunities for a market 7. Decisive – decision maker based on experience and
-establishing and operating a business out of the opportunity knowledge
-assessing the risk and rewards through close monitoring of 8. Balanced – analytical/logical and creative
the operation 9. Innovative
RELEVANCE OF ENTREP IN AN ORGANIZATION -Initiative, Perseverance, Self confidence, Self-critical,
1. Develop managerial capabilities Planner, Persuasion/Persuade
2. Creation of organizations CORE TRAITS OF ENTREPRENEUR
3. Improve standard living 1. Leaders – decisive
4. Means of economic development 2. Communicators – use all forms of communication
Societal and Economic Benefits of Entrep 3. Specialist – tactical and keen on details
1. Produce more jobs that equate to an increase in 4. Problem solver – can handle everything
national income CORE COMPETENCIES IN ENTREP
2. Amplifies economic activities of different sectors of 1. Economic and dynamic activity
society 2. Innovation
3. Introduces new and innovative products and services 3. Profit potential
4. Improves people living standards 4. Risk bearing
5. Disperses economic power and creates equality What are the most common small business in the Philippines?
6. Controls the local wealth and balances regional 1. Sari-sari store
development 2. Rice retailing
7. Reduces social conflict and political unrest 3. Food cart
8. Elicits economic independence and capital formation 4. Printing
5. Buy and Sell
REFLECTION 6. Street food
When can you say that an entrepreneur is successful? 7. Tiangge or flea market
8. Online selling
Give a word that describes a ENTREPRENEUR. It can be a 9. Cellphone Loading
character, a noun, or a verb, etc. 10. Laundry and dry cleaning
11. Salon
Who is an ENTREPRENEUR? 12. Spa, gym and nail care
Entrepreneur has a French origin “ entre” which means 13. Video and photography
“between” and “prendre” means “to take” 14. Tutorial
He is a unique individual who has the innate ability and 15. Baking
extraordinary dedication to establish and manage a business, 16. Web site development and design/ blogging
acknowledging all the risks and reaping its rewards. 17. Direct selling
18. Car wash and care
NEW TERMS OF ENTREPRENEUR 19. Bar, café, restaurant
1.Technopreneur – technology as the core of business model 20. Water station and LPG
2.Social Entrepreneur- focuses on social problems by helping
3.Intrapreneur-product managers, business development MYTHS ABOUT ENTREP
managers 1.Entrepreneurs are like leaders, born not made.
4.Extrapreneur- hopes from one company to another 2.Entrepreneurs are academic and social misfits
REFLECTION 3.To be an entrepreneur, one need money only
If you were to become entrepreneur, which one of the four 4.TO be an entrepreneur, a great idea is the only ingredient
would you rather be and why? 5. One wants to be an entrepreneur as having no boss ia
great fun.
COMMON TRAITS OF AN ENTREPRENEUR
1. Proactive -reactive rather than passive