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  • A Prelim No. 1 Research in Daily Life 2

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    PEÑA, Malich A
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    The document discusses innopreneurship, which is defined as innovation plus entrepreneurship. An entrepreneur is defined as the owner of a business who invests resources to bring an idea to life and provide value. Key factors for entrepreneurial success include commitment, competency, coordination, and commitment. An innovator introduces a new commercially successful process, product, or business model. Reasons to become an entrepreneur include personal freedom, control, financial independence, and personal growth. The document outlines a prosperity principle involving converting cash to inventories, then inventories to receivables through pricing goods higher than costs, and finally receivables back to cash through an effective accounts receivable system.

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    A Prelim No. 1 Research in Daily Life 2 (1)

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    The document discusses innopreneurship, which is defined as innovation plus entrepreneurship. An entrepreneur is defined as the owner of a business who invests resources to bring an idea to life and provide value. Key factors for entrepreneurial success include commitment, competency, coordination, and commitment. An innovator introduces a new commercially successful process, product, or business model. Reasons to become an entrepreneur include personal freedom, control, financial independence, and personal growth. The document outlines a prosperity principle involving converting cash to inventories, then inventories to receivables through pricing goods higher than costs, and finally receivables back to cash through an effective accounts receivable system.

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    © All Rights Reserved
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    9 views11 pages

    A Prelim No. 1 Research in Daily Life 2

    Uploaded by

    PEÑA, Malich A
    The document discusses innopreneurship, which is defined as innovation plus entrepreneurship. An entrepreneur is defined as the owner of a business who invests resources to bring an idea to life and provide value. Key factors for entrepreneurial success include commitment, competency, coordination, and commitment. An innovator introduces a new commercially successful process, product, or business model. Reasons to become an entrepreneur include personal freedom, control, financial independence, and personal growth. The document outlines a prosperity principle involving converting cash to inventories, then inventories to receivables through pricing goods higher than costs, and finally receivables back to cash through an effective accounts receivable system.

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    of 11

    RESEARCH IN

    DAILY LIFE 2

    PREPARED BY: MR. ALBERT Q. MAPPALA


    SECTION: 12 PRIMROSE
    MODULE 1
    INTRODUCTION TO ENTREPRENEURSHIP

    DO YOU KNOW WHAT IS


    INNOPRENEURSHIP?

    RESEARCH IN DAILY LIFE 2


    INNOPRENEURSHIP
    IS
    INNOVATION + ENTREPRENEURSHIP

    RESEARCH IN DAILY LIFE 2


    WHO IS AN
    ENTREPRENEUR?

    RESEARCH IN DAILY LIFE 2


    an ENTREPRENEUR is an owner of a business who invests his/her
    resources to bring an idea to life, setting the direction that transforms that idea
    into reality. Thus providing and gaining value that balances effort, purpose
    and profit.
    an entrepreneur has 5 components.
    COMPONENTS OF AN ENTREPRENEUR KEY FACTORS FOR SUCCESS

    1. Owner who invests resources 1. Commitment

    2. Bring an idea to life 2. Competency

    3. Setting direction 3. Competency

    4. Making things happen 4. Coordination

    5. Adding value 5. Commitment

    RESEARCH IN DAILY LIFE 2


    WHO IS AN
    INNOVATOR?

    RESEARCH IN DAILY LIFE 2


    an INNOVATOR is a person who introduces either a new process,
    product, service or business model to the marketplace that becomes
    commercially successful.

    this description is different from an inventor who creates something new


    but has not attained commercial success.

    Innovation, therefore, has two necessary elements – it must be new and it


    must be a commercial success.

    1 2
    NEW COMMERCIAL SUCCESS

    RESEARCH IN DAILY LIFE 2


    WHY BE AN
    ENTREPRENEUR?
    REASONS TO BE A ENTREPRENEUR

    1. Personal Freedom

    2. Control of being the owner-boss

    3. Expect financial independence

    4. Personal Growth

    RESEARCH IN DAILY LIFE 2


    PROSPERITY FOR ALL

    CASH

    WEALTH CONVERSION PRINCIPLE

    INVENTORIES RECEIVABLES

    RESEARCH IN DAILY LIFE 2


    PROSPERITY FOR ALL

    CASH

    REQUISITES TO PROSPERITY

    AD

    SP
    U

    EE
    SQ

    D
    INVENTORIES RECEIVABLES

    SPREAD
    RESEARCH IN DAILY LIFE 2
    SQUAD – before the entrepreneur converts cash to inventories, they need to
    form a team (or a squad), which includes his or her choice of business
    partners.

    SPREAD - before the entrepreneur convert inventories to receivables by way


    of transaction, they need to ensure that the products sold are priced higher
    than the cost it was bought or manufactured.

    SPEED – in order for the entrepreneur to convert receivables back to cash by


    way of collection, they need to create a system to manage account receivables
    effectively also known as Speed.

    RESEARCH IN DAILY LIFE 2

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