Lesson 1: Importance of

Entrepreneurship
MODULE 1
INTRODUCTION OF
ENTREPRENEURSHIP
 OBJECTIVE
S
At the end of this module, you are expected
to:

a. understand the relevance of the course;

b. identify the basic concepts and
characteristics of entrepreneurship; and
c. explore job opportunities for
entrepreneurship.
Why do we need to study
entrepreneurship?

How entrepreneurship does

affect us?
Entrepreneurship teach us
to..
• create opportunity
• ensures social justice
• instills confidence
• stimulates the economy
• take risks
• fail and to persevere
• become creative, inventive and
innovative
Entrepreneurship is a key driver of our
economy.
-The 1987 Philippine Constitution recognizes
entrepreneurship as an engine of economic growth.
-Article XII (NATIONAL ECONOMY AND PATRIMONY)
Section 1 highlights the role of private enterprises in
supporting equitable distribution of income and wealth,
sustaining production of goods and services and expanding
productivity, therefore raising the quality of life.
 Entrepreneurship is more than just an economic
term — it is a way of thinking.
-People exposed to entrepreneurship frequently express that
they have more opportunity to exercise creative freedoms,
higher self- esteem, and an overall greater sense of control
over their own lives.
-Entrepreneurship is a way of inspiring creative
individuals to pursue opportunities despite its risks.
Entrepreneurship requires a
special kind of person:

Someone who is willing to

RISK IT ALL for the
fulfillment of a dream.
What Makes Someone an
Entrepreneur?
 Personal
Attributes
•Creativity is the spark that drives the
development of new products or
services or ways to do business. It is
the push for innovation and
improvement.
•Dedication is what motivates the
entrepreneur to work hard. Planning of
an ideas must be joined by hard work
to succeed.
Personal
Attributes
•Determination is the extremely strong
desire to achieve success. It includes
persistence and the ability to bounce back
after rough times.
•Flexibility is the ability to move quickly
in response to changing market needs. It
is being true to a dream while also being
mindful of market realities.
•Leadership is the ability to create rules
and to set goals.
Personal
Attributes
•Passion is what gets
entrepreneurs started and keeps
them there.
•Self-confidence comes from
thorough planning, which reduces
uncertainty and the level of risk.
•“Smarts” consists of common
sense joined with knowledge or
experience in a related business
or endeavor.
 Why should becoming
an entrepreneur be any
different?
Required Education
-educational requirements for entrepreneurs
are nonspecific
-all entrepreneurs need capital, so the ability
to write an effective business plan is vital
Required Skills
-tolerance for risk taking and a willingness to
leave the security of a conventional and
tedious job
-the ability to multitask is a key
Career Outlook
-earnings for entrepreneurs vary drastically,
and income is often unstable, especially in
the early days of a new business
RISK OF BEING AN ENTREPRENEUR
 Potential Business Failure. Being fully responsible means
the success or failure of your business rests on you.

 Unexpected Obstacles. Problems can happen that you

don’t expect.
 Financial Insecurity. Many new businesses don’t make
much money in the beginning, so you may not always be
able to pay yourself.

 Long Hours and Hard Work. It’s not unusual for

entrepreneurs to work a lot of extra hours to make their
businesses successful. This is especially true during the
initial start-up process.
Career Opportunities in Entrepreneurship
Business consultant
Business consultants provide advice about
business issues, such as the development and
implementation of business plans, how to
streamline operations or how to expand into
a new market.

Management analysts/ consultant

The person who evaluates a business' systems,
procedures and operations, they may also
review a business' financial matters, such as
the ratio of income to expenditures.
Career Opportunities in Entrepreneurship
Sales
Someone who works in sales or runs the
department needs to know how businesses run.
They need to know how to represent a
company, manage accounts, and follow up on
leads.

Research and development

To work in R&D, you need to understand
business concepts, procedures, and practices.
With all of the training and education someone
has received learning about entrepreneurship,
they are well prepared for this type of position.