Lesson 1

Jean baptiste – entrepreneur Concept

Joseph schumpeter – theory of economic dynamics

Adolph riedel – take on unmeasurable

Frank knight – clarified adolphs ideas on unmeasurable

Alfred marshall – capitalist the people who trust themselves

As an entrepreneur you must

Take risk

Bring ventures

Leadership

Manager

Entrepreneurs > intermediaries > market

Characteristic of entrepreneur

Perseverance commitment

Ability to calculate risk diligence,

Profit oriented flexibility

Creativeness

Intelligence

Agressiveness

Resourcefulness

Optimistic

Initiative

Needs to achieve

Leadership

Cooperativeness

Why entrepreneurs should be motivated

1. Tough market competition

2. Unfavorable conditions
3. To generate public demand
 3 factors affect entrepreneurs
1. Health
2. Social impact
3. Weather

Myths in entrepreneurs

• Are born
• Money and luck are the only needed to became entrepreneurs
• Super human
• Gamblers and risk taker
• Faced many failures
• Inherit business skills

Entrepreneurs :
Create jobs
Give to society
Create change

Inspiring entrepreneurs

• Walt Disney
• Mark Zuckerberg

Lesson 2

Glimpse of the philippines

Abaca, coconut, and sugarcane are products widely seen around the country.

Essential minerals are mined like gold, silver, copper, nickel, bauxite, and carbon

The Philippines also has oil reserves in Palawan and the much-contested Spratly Islands.

Dry and Typhoon Season

Tagalog-based language

With more than 100 dialects

Mostly Catholic religion

Government agencies

Dti

Dole

Psc
Sss

Hdmf

Msmc – micro small and medium enterprise

Filipino values
1. Filipinos have shown excellent human relations.
2. Filipinos uphold the value of self-esteem and an excellent public image.
3. Filipinos are generally adventurous.
4. Filipinos, by nature, are courageous.
5. Filipinos are noted for their ability to withstand the crisis.

Ten reasons why you should start business at philippines

1. The Philippines is creating incentives to entice foreign investors and opening

opportunities
2. Earning and capital can be freely converted and repatriated.
3. A wave of privatization and deregulation has added substantially to the investment
attractions.
4. Philippines financial markets, while still volatile, have been the most rewarding emerging
securities markets, posting remarkable performance in recent years.
5. The Philippines is one of Asias most accessible coutries for many Westerners
6. This island nation is strategically positioned as a perfect intermediary between Asia and
the rest of the world.
7. The country offers a skilled, highly trainable, and inexpensive labor force of more than
26 million people, many of whom speak English.
8. The Philippines has a long-established reputation as a significant exporter of agricultural
products, minerals, and other raw materials commodity goods.

9. The Philippines reakening industrial sector has already begun to produce and export a
range of competitive, higher value-added industrial products, and its effort at diversification
are succeeding. The country is fast becoming a competitive producer in regional and world
markets.

10. The nation's population constitutes a substantial domestic market for modern consumer
goods. Policies encouraging efforts mean a demand for imports of intermediate goods, high-
tech machinery, and raw materials.

Business ideas in the philippines

1. Palamig business from home selling

2. Rental shop for costumes
3. The loading of cellphone business
 4. The cake and pastry industries
5. Bills payment
6. Renting for outdoor adventure equipment
7. Buy and sell online
8. Piso wifi vending machine

Lesson. 3

The entrepreneurs

Entrepreneur has traditionally been defined as "a person who organizes and manages any enterprise,
especially a business, usually with considerable initiative and risk."

Characteristic

Creativity

Professionalism

Risk taking

Passion

Planning knowledge

Social skills

Open mindedness towards learning people and Failure

Empathy

Costumer is everything

Entrepreneur character

1. Planning skills: Entrepreneurs must create business plans to achieve objectives in a variety of areas,
including finance, marketing, production, sales, and personnel.

2. Ability to communicate: Entrepreneurs must be able to explain, discuss, sell, and market their
products or services.

3. Marketing skills: Entrepreneurial success depends on having good marketing abilities that make
people desire to buy goods or services.

4. Interpersonal skills: An entrepreneur's ability to form and maintain favorable connections with
customers and clients, employees, financial lenders, investors, lawyers, and accountants, among others,
is critical to the success of his or her business venture.

5. Basic management skills: Even if entrepreneurs hire others to handle the business's day-to-day
operations, they must know whether their company has the necessary resources.
6. Leadership abilities: The ability to create a company vision and encourage colleagues to achieve it is
critical to success.

Four types of entrepreneurs

Innovative

Imitative

Fabian

Drone

Entrepreneurs contributions

Identifying existing opportunities

Creating employment opportunities

Contributing to national income

Infrastractural development

Famous filipino entrepreneurs

Henry sy

Tony tan caktiong

John gokongwei

Joe magsaysay

Determinants of successful and failure of an entrepreneur

Internal success factors

External success factors

Internal failure factors

External failure factors

The entrepreneurial mindset

Vision and Mission in Entrepreneurship

Vision is a fundamental element in becoming an entrepreneur. It is the powerful motivating force that
gives the entrepreneur a sense of perspective of what he hopes, expects, and desires for his intended
business.

This fundamental role which vision provides to entrepreneur is summarized:

1. A sense of direction by being the "light at the end of the tunnel"

2. Helps entrepreneur identify and define his goal or mission

3. Guides in formulating action plans

4. Serves as a communication tool

5. Provides a sense of warmth and encouragement

6. It serves as a medium for attracting people for support and for motivating them.

7. Provides moral content to the endeavor

Exploring ideas and opportunities

New products

new service

New relationships

Lower cost

Newer destination route

Lesson 4

Start up

Buy out

Franchising

Individual franchise

Area franchise agreement

Master franchise agreement

1. Start up - starting business from scratch using thier cretivity and innovation

Reason why you should do a start up business

If the business is newly invented

If the entrepreneur wants to avoid problems and undesirable commitment

If he wants to take advantage of ideal location, product and service

Advantage

1. Possibility of making your target in your own objectives

2. Freedom of picking your target market

3. Personalize your policies as well as hiring process

4. Avoid "GOODWILL"cost of purchasing an existing company

5. The abilitiy to choose business concept

Disadvantage

1. Contains great amount of uncertainty

2. Invest time and effort

3. Investment risk

4. Theres a chance that the time lag between your investment cash flow may be excessive

5. High risk high potential

6. Many unkown and unpredictable

Buy out

An entrepreneur can buy an existing business

Advantage

1. There are already personel and know-how to

2. Facilities and technology are available

3. There are existing product and existing market

4. Location of business are favorable

5. The business establish relationship with bank and traders

6. The business generating profit

7. There are existing goodwill

Franchising

This is legal agreement between the franchisor and franchisee to have the right but must abide the term
and condition of other party

Individual franchise

It involves single franchise for specific location

Area franchise

It allows the franchisor to operate in a particular geographic areas

Master franchise agreement

It allows the franchisor to own and operate

Specific number of franchise in a particular geographic areas and provides franchiser to have rights to
sell others (subfranchiser)

Advantage

The possibility of failure is lessened.

Increase in new market location through urbanization of local areas.

The customer tends to patronize a specific franchise service or product.

Customer loyalty and preference for a successful brand name.

Better management through training provided by the franchisor

Dis advantage

High cost of franchise.

The franchisor controls the operation.

Presence of fierce competition.

Pressure to continuously make the product acceptable to the market.

Problems associated with the expiration of the franchise.

Lesson 5

Management

Sole – is only runned by one person

Partnership – have collaborations with other individuals or agency it can be two or more

Corporation – having different collaborations but not going to take care they only help in terms of
resources or manpower.