ENTREPRENEURSHIP

ROLES and TASKS of an ENTREPRENEUR in

ECONOMIC DEVELOPMENT
OBJECTIVES:
1. Relate the common myths regarding entrepreneurs

2. Understand and appreciate the roles and tasks of an

entrepreneur

3. Recognize better value on the possible career opportunities

of an entrepreneur
Assignment (PT)
 Reflection Paper on:

Are entrepreneurship made not

born?
ROLES and TASKS of an ENTREPRENEUR in ECONOMIC
DEVELOPMENT

ACTIVITY

Debate teams:

Entrepreneurs are made

vs
Entrepreneurs are born
ACTIVITY- DEBATE

Mechanics:
Divide the class between into 2 (based on their answer).

Each group should choose their 2 representatives.

Play toss coin to who will start the game.

At the onset, each will be allowed to up to 3 minutes to defend their answer.

After each group gave their ideas on the first round, the two groups will be allowed up
to 3 rounds of 1 minute each to “rebat” each other.
Common myths and facts about entrepreneurs
Myth: Entrepreneurs are made not born
>based on the mistaken belief that some people are genetically
predisposed to be entrepreneurs (e.g. chinese people are very
successful in developing enterprises)

>based on consensus of many hundreds of studies on the

psychological and sociological make up of entrepreneurs is that
entrepreneurs are not genetically different from other people

--meaning .. No one is “born” an entrepreneur and that

everyone has the potential to become one.
Common myths and facts about entrepreneurs

COMMON TRAITS AND CHARACTERISTICS OF

ENTREPRENEURS
*a moderate risk taker *Optimistic disposition
*a networker *persuasive
*achievement motivated *promoter
*alert to opportunities *resource assembler/leverager
*creative *self-confidence
*decisive *self-starter
*Energetic *tenacious
*a strong work ethics *tolerant of ambiguity
*lengthy attention span *visionary
Common myths and facts about entrepreneurs
Entrepreneurs are made not born
>These traits are developed over time and evolve from an individuals social context.

>moreover, studies show that people with parents who were self-employed are more
likely to become entrepreneurs.

>After witnessing a father’s or mother’s independence in the workplace, an individual is

more likely to find independence appealing.

>Similarly, people who personally known an entrepreneur are more than twice as likely
involved in starting a new firm as those with no entrepreneur acquaintances and role
models.

>The positive impact of knowing an entrepreneur reduces the ambiguity and uncertainty
associated with the entrepreneurial process.

(Beringer/Ireland 2013)
Common myths and facts about entrepreneurs
MYTH: Entrepreneurs are gamblers.

>truth is, Entrepreneurs are usually moderate risk-takers, as are most people.
Gamblers?
 Typically they have jobs that are less structured, and so they face a more
uncertain set of possibilities than managers or rank-in-file employees.

 Many entrepreneurs have a strong need to achieve and often set

challenging goals, a behavior that is sometimes equated with risk-taking.

 (Baringer/ireland 2013)
Common myths and facts about entrepreneurs

MYTH: Entrepreneurs are motivated primarily by money

Common myths and facts about entrepreneurs

 Entrepreneurs should be young and energetic

>what makes an entrepreneur “strong“ in the
eyes of an investor is experience in the area of
business, skills and abilities that will help the
business solid reputation, a track record of
success, and passion about business Idea.
Common myths and facts about entrepreneurs

 Entrepreneurs love spotlight

>Indeed some entrepreneurs are flamboyant:

however, the vast majority of them do not attract
public attention.

>fact, many entrepreneurs, because they are working

on proprietary products or services, avoid public
notice.
WHY BECOME AN ENTREPRENEUR?

Be your own boss.

WHY BECOME AN ENTREPRENEUR?

Pursue your own ideas

WHY BECOME AN ENTREPRENEUR?

Pursue financial rewards.

ROLES AND TASKS OF ENTREPRENEUR
 Provides products and services for customers and
producers
 Provides employment
 Organize production by buying and combining
inputs like materials and labor
 Invest his own or borrow money to supply the
necessary capital
 To decide on the rate of output
 End notes/references:
*AIM Faculty Capacity building Seminar by Prof E. Morato’s module 2008
*Asor, W., Entrepreneurship in the Philippine Setting 2 nd edition, Rex
Bookstore, Manila, Philippines. 2013

Books
*Asor, W., Entrepreneurship in the Philippine Setting 2 nd edition, Rex
Bookstore, Manila, Philippines. 2013

*Medina, R.G., Entrepreneurship and Small Business Management, Rex

Bookstore, Manila, Philippines. 2014
 Thank you…