Verse of the day: Lukas 11:9 or Luke 11:9

 9
Kaya't sinasabi ko sa inyo, humingi kayo at kayo'y bibigyan;
humanap kayo at kayo'y makakatagpo; kumatok kayo at kayo'y
pagbubuksan.

 9
“And so I tell you, keep on asking, and you will receive what you
ask for. Keep on seeking, and you will find. Keep on knocking, and
the door will be opened to you. (NLT)
What can you say about the pictures?
ENTREPRENUERSHIP
 Objectives

1. Understand key concepts, underlying principles and core

competencies in Entrepreneurship
2. Create or provide a quality and marketable product and/or
service in Entrepreneurship
3. Define the concept of Entrepreneurship
 - What is Entrepreneurship?

 The concept of Entrepreneurship has a wide range of meaning

 An entrepreneur is a person of very high aptitude who pioneers change
 Anyone who wants to work for himself or herself is considered an entrepreneur.
 The word entrepreneur originates from the French word, “entreprendre”, which
means "to undertake."
 On the Merriam-Webster: an entrepreneur as one who organizes, manages, and
assumes the risks of a business or enterprise
 According to J.B. Say According to a
French economist
 an entrepreneur is a person who shifts economic resources out of an area
of lower productivity into an area of higher productivity and greater
yield.
 Schumpeter’s View of Entrepreneurship
(Austrian economist)

His view of entrepreneurship emphasis on innovation, such as:

 New products
 New production methods
 New markets
 New forms of organization
 Entrepreneur

 A person who is able to identify business opportunities and

implement actions to maximize on the opportunities. An
entrepreneur initiates enterprise creation, undertakes risks, and
manages resources to establish and operate a business enterprise
that is capable of to self-sustain.
 Entrepreneurship vs. Small Business

 They have much in common but they have significant difference.

Entrepreneurial ventures differ from small businesses in these ways:
1. Amount of wealth Creation
2. Speed of wealth creations

 RISK - The risk of an entrepreneurial venture must be high.

 INNOVATION - Entrepreneurship often involves substantial innovation beyond
what a small business might exhibit.
 Entrepreneurship and Innovation
Creativity is the ability to generate ideas while innovativeness is the ability to
implement the appropriate ideas.

An entrepreneur’s innovativeness is reflected in the following ways:

1. Initiating new ideas - Initiative is the ability to start acting on an idea.
2. Searching for new information - An entrepreneur is always open for information
3. Translating ideas and information into a business venture - entrepreneurs are
action oriented and translate good ideas to actions.
4. Perseverance - . Entrepreneurs do not give in to failure.
5. Removing mental blocks and acceptance - An entrepreneur has the ability to
remove these barriers and encourage clear thinking and independence in his or her
venture.
 Entrepreneurial Contribution to Economic Development

1. Utilization of Local Resources - Local resources, some of which would be otherwise declared useless,
are put to more gainful use. The value of the resources is improved.
2. Promotion of Technology - Entrepreneurs are very creative hence, they contribute to the utilization and
development of technology.
3. Capital Formation - Entrepreneurs help in the creation of wealth for the country through job creation.
4. Creation of Employment Opportunities - Entrepreneurs help in solving the unemployment problem.
5. Export Promotion - Through these activities, entrepreneurs are able to earn the country foreign
exchange.
6. Favorable Balance of Payment- There is now a balance between the import and export business.
 Entrepreneurial Contribution to Economic Development

7. Improved Marketing of Locally Produced Products - With the current competition, every business is
compelled to produce quality products/services and aggressively market the same
8. Improved Infrastructure- Creation of businesses leads to improved cities and towns, which in turn result in
improvement of roads, banking services, telephone network, electricity etc.
9. Promotion of Talent and Hobbies – Encourage to exploit there talents
10. Improved Growth in Gross Domestic Product - There is now favorable trade internally and this has seen
an increase in economic growth.
11. Self-reliance - Entrepreneurs enable citizens to survive comfortably without too much borrowing.
 Entrepreneurship and Self-Employment
 A person puts his effort in a business or an activity that belongs to him/her in this
state
Factors to Consider Before Going into Self-employment
  Business Idea
  Skills (Technical/Managerial)
  Market
  Capital (Opening, Working or Long-term)
  Machinery (Technology)
  Raw materials
  Location (Strategic)
  Legal Issues Competition
 Reasons for Self-Employment

1. Need to improve personal income.

2. Inability to secure a desirable job.
3. Influence of others.
4. To fulfill a life-long ambition
5. To seek more independence.
6. Love for adventure
7. Dissatisfaction with wage employment
8. Favorable environment
 Characteristics of Entrepreneurs

1. An eye for opportunity

2. Independence
3. An appetite for hard work
4. Self-confidence
5. Discipline
6. Judgment
7. Ability to accept change
8. Make stress work for them
9. Need to achieve
10. Focus on profits
11. Risk Bearing
12. Locus of control
13. Creative and Innovators
14. Leadership
15. Ability to mobilize resources
 Entrepreneurs have many qualities that help them their
businesses successful. However, an entrepreneur does not have
to possess all the qualities. In that case, he has either to learn
or hire the services of those who possess the qualities he does
not have
Group Activity: Each group will think how they innovate a
simple product and explain why people buy it. ( 5mins pre.) (2-
3min presentation)

PRODUCT
Group 1: Ballpen

Group 2: Pencil

Group: Notebook

Group: Eraser
 Rubricks

Creativity – 5%
Cooperation – 5%
Innovation – 5%
Presentation of output – 5%
Introduction of Blockchain Technology

Group Activity: Divide into Four (4) groups

Each group will have a full cooperation, so that they will
finish the task given!
 Task: The GROUP will going to past the message
correctly and orderly! AND THE LAST MEMBER
WILL RECITE IT TO ME. (4 MINS EACH GROUP)
Introduction of Blockchain Technology

Video lesson