Aedrian S.

Ramos

B.S.ENTREPRENEURSHIP 1F

Sir: John Paul Manalang

ENTREPRENEURIAL BEHAVIOR

1. What is Entrepreneurship?

Entrepreneurship is the process of identifying, creating, and managing a business or venture to achieve a
specific goal, often with a focus on innovation, risk-taking, and the pursuit of opportunities.
Entrepreneurs are individuals who take on the responsibility of organizing resources, such as capital,
labor, and ideas, to bring a new product, service, or business concept to the market. Entrepreneurship
involves a willingness to take calculated risks and adapt to changing circumstances in order to achieve
success. It plays a crucial role in economic development and innovation in various industries.

2. Importance of Entrepreneurship, give at least 5.

* Job Creation: New businesses and startups are major sources of job creation, providing
employment opportunities and reducing unemployment rates.

* Economic Resilience: A diverse ecosystem of entrepreneurs and businesses can make an

economy more resilient to economic downturns, as it reduces dependence on a single industry or sector.

* Global Trade: Entrepreneurial ventures can expand internationally, promoting trade and
global economic interdependence.

* Social Impact: Social entrepreneurs use innovative approaches to address social and
environmental issues, creating positive societal change.

* Cultural and Creative Expression: Entrepreneurship in the arts and creative fields allows
for the expression of cultural diversity and the preservation of heritage through various forms of artistic
expression.

3. What is Entrepreneur?

An entrepreneur is an individual who initiates, organizes, and manages a business venture with the aim
of creating value, often by identifying opportunities, taking calculated risks, and mobilizing resources to
bring their ideas to fruition. Entrepreneurs are characterized by their willingness to innovate, adapt, and
pursue opportunities in various industries and sectors. They can be founders of new startups, leaders of
established companies, or individuals who introduce novel ideas within existing organizations.
 4. What do you think the common traits of the Entrepreneur?

Creativity: Entrepreneurs frequently find novel ways to solve issues or spot untapped market potential.

Risk Acceptance: They are prepared to take measured risks since they understand that entrepreneurship
is fundamentally uncertain.

Entrepreneurs are able to set long-term goals and have a clear picture of what they want to accomplish.

Passion: Their dedication and perseverance are motivated by a strong passion

5. Give at least 5 reason why people becomes Entrepreneur?

* Pursuing Passion: Many entrepreneurs are driven by a deep passion for a particular idea,
product, or industry. They want to turn their passion into a business and work on something they truly
love.

* Independence and Autonomy: Entrepreneurship offers the opportunity to be one’s boss

and make independent decisions. Entrepreneurs value the freedom to set their own direction and work
on projects that align with their vision.

* Financial Potential: Building a successful business can lead to significant financial

rewards. Entrepreneurs see the potential for higher income and wealth accumulation compared to
traditional employment.

* Innovation and Problem-Solving: Some individuals become entrepreneurs because they

enjoy solving problems and introducing innovative solutions to market gaps or challenges. They want to
make a meaningful impact through their ideas.

* Flexibility and Work-Life Balance: Entrepreneurship can provide flexibility in terms of

work hours and location. Many entrepreneurs seek a better work-life balance and the ability to tailor
their schedules to their needs and preferences.

Essay at least 150 words

Becoming a successful entrepreneur requires a combination of traits, skills, and actions. First and
foremost, cultivate a passion for your business idea, as genuine enthusiasm will fuel your dedication and
resilience. Develop a clear and well-researched business plan that outlines your goals, target market, and
strategies for growth.

Embrace risk-taking, but do so wisely by conducting thorough market research and planning for
contingencies. Surround yourself with a supportive network, including mentors and advisors who can
offer guidance and feedback. Effective communication and leadership skills are essential for managing
teams and partnerships.

Financial acumen is crucial; manage your resources wisely, monitor cash flow, and seek funding when
needed. Adaptability is key in the ever-changing business landscape. Stay open to feedback and
continuously learn from both successes and failures. Finally, prioritize customer satisfaction and maintain
a customer-centric focus to build a loyal clientele.

Success as an entrepreneur often involves persistence and the ability to learn and adapt along the way.
Keep your vision in mind, stay committed to your goals, and be prepared to evolve with your business.