Careers in Entrepreneurship

1.3 Careers in Entrepreneurship

In previous discussion emphasized, entrepreneurship is
not just about individuals establishing business start-
ups, but it also referring to those who think like
entrepreneur. In general, entrepreneurship may be
classified into two types: commercial
entrepreneurship and social entrepreneurship. The
two types of entrepreneurship significantly different in
terms of motivation and mission.
Commercial Entrepreneurship
• refers to income-generating enterprises that are
established mostly for the purpose of generating profits
• A commercial enterprise is accountable mainly to the
owners or of the business entity.
•The examples are commercial enterprise is businesses
that offering goods or services
You can see that career opportunities in entrepreneurship are
large-scale and diverse. The following are the types of
entrepreneurial careers prevailing in the Philippines, which
would give you further ideas on how you could continually
develop an entrepreneurial mindset.
• Corporate Entrepreneurship
• Start – up Entrepreneurship
• Buying a Franchise
• Buying a Small Business
 Corporate Entrepreneurship
• Also called “intrapreneurship,” this type of entrepreneurship involves
creating new products, ventures, or organizational renewal within
large organizations.
• It is carried out by employees and managers working in their own
departments to create and test innovative products or processes
within their organization.
• These “inside entrepreneurs” aim to create something with value, be
it a product, a process, or an initiative. Because entrepreneurship is a
mindset, those in the corporate world may also be entrepreneurs.
Start – up Entrepreneurship
This is a type of entrepreneurship involving the creation or
setting up of a new small business. The start-up entrepreneur
marshals resources to seize a business opportunity to offer a
product or a service for the purpose of generating a profit (as
a commercial enterprise) or generating both profit and
creating a social impact (as a social enterprise).
Advantages of Start – Up Entrepreneurship
• It generally costs less to start your own business than to buy one.
• You can make use of your creative talents in developing something
that is unique.
• You are free to search for unexplored markets.
• You are free to choose your own location and develop your own
management style and policies.
Disadvantage of Start – Up Entrepreneurship
• But there are also inherent risks in developing your own
business that you have to be prepared for as you are starting
from scratch. That’s why you have to understand how the
startup business works. Start-up entrepreneurship (though
on a small scale) is what you would be implementing as part
of your entrepreneurship course, allowing you to gain
experience in starting your own small business.
Buying a Franchise
• This form of entrepreneurship involves a franchise that
minimizes some business risks for an entrepreneur.
• Franchise is a license purchased by an entrepreneur
allowing one to trade under the name of that
established business.
• Franchising involves a plan of distribution where an
individually owned business is run as a part of a large
chain. The products and services offered are
standardized.
• The products and services offered are standardized. The
company (franchisor) gives the individual dealer
(franchisee) the right to market the franchiser’s product or
service, and to use the franchisor’s registered trade name
and trademarks, business image and reputation, and
established ways of doing the business.
• There are many franchise businesses found in the
Philippines. They vary from foreign-owned (McDonald’s, 7-
Eleven) to locally owned (Jollibee, Goldilocks), and from
small outlets (Siomai House, Angel’s Burger) to large
franchise enterprises (Starbucks, Uniqlo).
Disadvantages of Franchise
• For instance, because of the required standardized
operations, you cannot make all of the rules in running the
business As such, you have to give up some of your freedom
in making decisions on operations. You may be restricted in
establishing selling prices, introducing new products or
services, and dropping unprofitable ones. Also, the
franchisor earns a percentage of gross sales from franchise’s
products and services.
• In looking for the best franchise that suits your professional
goal and management style, you can consult a directory of
franchise opportunities from websites of business
organizations (e.g., https://www.ufranchiseasia.com;
https://www. Pinoymoneytalk.com/list-of-philippine-
franchises/) and also business information from the
government’s portal (Department of Trade and Industry
website at https://www.dti.gov.ph).
Buying a Small Business
• Another way to start a career in entrepreneurship is to
buy an existing small business. There are certain
advantages to buying an existing business. For instance, it
is the only way to get a good location in the area where
you want to run a business. Moreover, you can lessen
some of the anxieties, time, and work that go into the
startup phase of developing the business. And often, you
save some money as you are able to make use of the
seller’s invested capital.
Social Entrepreneurship
• Also referred to as altruistic entrepreneurship –which
translates to selfless concern for the well-being of others.
• This type of entrepreneurship uses the business methods
of a commercial enterprise to generate profit but is more
concerned in helping social causes or improving the
welfare of disadvantaged groups, such as the unemployed,
farmers, fisherfolk, urban poor, and others.
• It is important to emphasize that social entrepreneurship is
engaged in a process of social change by acting on the important
social needs, and its financial benefits are not directed to benefit
the entrepreneur but to the sustainability of the underprivileged
groups. Even though the entrepreneurs in this field are involved in
the nonprofit sector, this does not mean that there may be a need
to eliminate the idea of making a profit. When you think about it,
all entrepreneurs need money as capital so that they are able to
effect a positive change around them.
• Examples are Human Nature, Bayani Brew, and Rags 2 Riches.
 Thank You!

By:
Lacerna, Hazel
Padua, Janciel P.
Perez, Laurence Andrei M.