ENTREPRENEURSHIP

Subtitle
 What is an
Entrepreneur?
is a person who organizes and
manages a business
undertaking, assuming the
risk for the sake of profit. Any
person (any age) who starts
and operates a business is an
 What is an
Entrepreneur?
Entrepreneur is a
person who starts an
enterprise. The process
of creation is called
ENTREPRENEURSHIP.
 What is an
Entrepreneur?
Entrepreneur is a
person who starts an
enterprise. The process
of creation is called
ENTREPRENEURSHIP.
 What is
Entrepreneurship
?
Turning ideas into
marketable product.
 What is
Entrepreneurship
? the process
It is defined as
by which an individual
produces goods and
services to improve man’s
Entrepreneur and
Entrepreneurship
COMPETENCI
ES OF AN
ENTREPRENE
UR
 Opportunity Seeker
Entrepreneurs are in the
habit of identifying present
and future needs of people
and institutions in the
community. They keenly
observe their environment
 Persistent Initiators
They keep on trying various
alternatives to improve their
services to the people. They
could display the ability to think
of other ways to draw reserve
energy from within themselves
to be able to work harder and
 Committed Workers
When they make a promise,
they do all possible means to
keep this. Entrepreneurs
work with excellence in
whatever they do. They
always seek ways to do
 Committed Workers
They have their own standards
of excellence because what
matters to them is that the
customer is satisfied with the
product or service. Bbecause of
their passion for perfection,
they are the source of many
 Good planners
They layout plans carefully,
identify alternatives, follow-
up progress, get feedback,
and try hard to achieve set
goals. Entrepreneurs are
good planners and decision-
 Problem solvers
They 1.anticipate and solve
problems creatively. This calls
for being wise decision makers.
Decision making is the ability to
tackle problems by drawing up a
number of solutions and
choosing the best one. They
 Goal Setters
Entrepreneurs do not set
only clear long-term goals
but also clear and specific
short term goals. They make
sure that the goals set are
realistic and attainable.
Goals should
be:PECIFIC
S- EASURABLE
M-TTAINABLE
A- ESULT- BASED
R- IME-BOUND
 2Information/ feedback seeker
They personally seek
important data on clients
and supplies, as well as
competitors.
 Good salesmen
They apply various
strategies to follow up the
progress of the enterprise
and influence the customers.
 3Risk takers
Despite risks in business
enterprises, they take the
chance of investing. They
believe that any worthwhile
undertaking, there is always
a chance of failing, and also
 4Self- confident
Entrepreneurs believe in
themselves, and in their
ability to get things done,
overcome obstacles or meet
challenges. They are
personally responsible for
Activity 4.2
1. Among the 10
competencies, which do
you think is the most
important? Why?
2. Explain why many
 Management:

An Important Factor in

Entrepreneurial Activity
 Management
- The process of acquiring
and using human, fiscal
and material resources
effectively to produce
goods and services
4 Basic Managerial

Tasks of an

Entrepreneur
Plannning

Organizing

Directing

Controlling
 PLANNING
The entrepreneur lays out
short and long range plans
which require decisions for
future action. Planning
includes goal setting and
related decisions about
 ORGANIZING
This is the assignment of
tasks aand functions to
individuals, units or
departments. Duties,
functions, and accountability
of each individual or group
 DIRECTING
The entrepreneur implements
the business plan. He/ she
monitors the production of
goods and services and guides
the work activities of personnel
and other workers. He/ she sees
to it that standards in the
 CONTROLLING
This is the evaluation aspect of
entrepreneurship. The
entrepreneur, assisted by
personnel, checks on the quality
of goods and services produced.
Packing of materials and
stability of products are