CHAPTER 1

LESSON 4, 6, 7
ENTREPRENEURSHIP
LESSON 4 OBJECTIVES

Objective 1 Objective 2
● Distinguish between ● Determine the importance of
entrepreneurship and ordinary small knowing the distinction
business activity
Entrepreneurship and the activities of ordinary
small businesses differ in the following areas

● Motive in opening a business

● Perception of risk in the business
● Reactions to changes in the environment
● View on competition
● Vision for development and growth
● Horizon of business operation
● Sources of business funds
Motive in opening a business

ENTREPRENEUR ORDINARY SMALL

❑ Based on
BUSINESS
entrepreneurial
concepts and principles ❑ Source of livelihood
❑ Aspiration to become
successful
When your next-door neighbor
opens a small business and it
attracts good customers, are
you also going to open your
own small business?
Perception of Risk

ENTREPRENEUR ORDINARY SMALL

BUSINESS
❑ Minimize the risk ❑ Avoids risk
Reactions to Changes in the Environment

ORDINARY SMALL
ENTREPRENEUR
BUSINESS
❑ Reacts positively to
❑ Passive when it comes
changes in the
to changes
environment
View on Competition

ENTREPRENEUR ORDINARY SMALL

BUSINESS
❑ Views competition as a
healthy economic ❑ Views competition as
environment unhealthy
Do you consider competition on
your community healthy?
Vision for Development and Growth

ENTREPRENEUR ORDINARY SMALL

BUSINESS
❑ Ventures in long term ❑ Relies on luck
Horizon of Business Operation

ENTREPRENEUR ORDINARY SMALL

BUSINESS
❑ Thinks globally but acts
locally ❑ Centered only in the
local development
Sources of Business Funds

ENTREPRENEUR ORDINARY SMALL

BUSINESS
❑ Believes that the
wealth that the venture
may create is more than ❑ Limit their funding to
enough to compensate personal resources
for the source of funds
 Share to the class any
personal experiences in selling
that you may have.
LESSON 6 OBJECTIVES

Objective 1 Objective 2

● Explain the importance of ● State the significant contributions

entrepreneurship to the Filipino of entrepreneurship to the local
People community

Objective 3
● Determine the importance of
entrepreneurship to the Philippines
economy
 What do you think are the
benefits of entrepreneurship?
Importance to the Filipino People
Entrepreneurship makes the following
contributions to the lives of the Filipinos:

● It provides guidelines in their wealth-creating ventures

● It helps improve their financial and social life
● It helps broaden their creativity
● It helps make their lives happy, fruitful, and successful
Importance to the local community
Entrepreneurship, in one way or another, makes the
following contributions to the local community:

● It provides employment in the community

● It creates new demand in the market
● It makes substantial contribution to the raising and
collection of taxes
● It facilitates the movement of the factors of production
● It creates new business opportunities
● It promotes a peaceful and loving community
● It increases constructive competition
Importance to the Philippine
Economy
Entrepreneurship makes the following
contributions to the Philippines economy:

● It encourages competitiveness and thereby challenges

entrepreneurs to keep improving their products and services
● It helps find an entrepreneurial niche in the world market
● It helps hasten the economic recovery process of the
Philippines during financial turmoil or crackdown
● It facilitates the smooth flow of money in the local market
● It assists the national government in the desire to have
favorable economic ratings in the world market
 Suppose that in one local
community, there are 5 small
businesses while in another locality,
there are 30 small businesses.
Which of the two localities do you
think has improved economic
activities? Which of the two
localities do you want to live in?
 Thanks!
Do you have any questions?

Do not hesitate to send me a message on on

our group chat at messenger or email me at
ejreyes@uc.edu.ph

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