Introduction
to
Entrepreneur
ship
Lesson Objectives:
• Discuss the relevance of the course;
• Explain the key concepts of common
competencies;
• Explain the core competencies in
Entrepreneurship; and
• Explore job opportunities for
Entrepreneurship as a career.
What you need to
know
• Entrepreneurship is encouraged by the
economy because it can provide a lot of
opportunities for unemployed people. It
will increase per capita income, improve
standard of living and increase individual
savings, provide revenue to the
government in the form of income tax,
value added tax, export duties, import
duties and balanced regional
development.
Relevance of
Entrepreneurship
1. to an organization
Development of Managerial
Capabilities - this means that one of the
benefits an entrepreneur gets is to develop
his managerial skills.
2. Creation of Organizations - which
means that because of entrepreneurship
many organizations will exist.
Relevance of
Entrepreneurship
to an organization
3. Improving Standard of Living - this means
that entrepreneurship can lift up the economic
status of an individual.
4. Means of Economic Development - this
means that not only the life of the entrepreneur
is improved but also the society where the
business is located.
Concept of
Entrepreneurship
The word “entrepreneur” was derived
from the French verb enterprendre, which
means “to undertake.” This is pinpointing to
those who “undertake” the risk of enterprise.
Entrepreneurs are innovators. They are
willing to take the risks and generate unique
ideas that can provide profitable solutions to
Factors affecting
Entrepreneurship
1. Personality Factors which include:
a. Initiative - doing things even before being
told.
b. Proactive - which means he can classify
opportunities and seize it.
c. Problem Solver - which means he can retain
good relations with other people.
d. Perseverance - meaning he will pursue
things to get done regardless of challenges.
Factors affecting
e. Entrepreneurship
Persuasion - means that he can entice
people to buy even if they don’t want to.
f. A Planner - he makes plans before doing
things and does not fail to monitor it.
g. Risk-taker - which means that he is willing to
gamble but he will calculate it first.
2. Environmental Factors which include
political, climate, legal system, economic and
social conditions and market situations.
Common
1. Decisive - an entrepreneur must be firm
Competencies
in making decisions.
2. Communicator - an entrepreneur must
have a convincing power.
3. Leader - an entrepreneur must have the
charisma to be obeyed by his employees.
4. Opportunity seeker - an entrepreneur
must have the ability to be the first to see
business chances.
Common
5. Proactive – an entrepreneur can control
Competencies
a situation by making things happen or by
preparing for possible future problems.
6. Risk Taker – an entrepreneur has the
courage to pursue business ideas.
7. Innovative - the entrepreneur has big
business ideas and he does not stop
improving and thinking of new worthwhile
ideas for his business.
Core Competencies
1. Economic and Dynamic Activity -
Entrepreneurship is an economic activity
because it involves the creation and
operation of an enterprise with a view to
creating value or wealth by ensuring
optimum utilization of limited resources.
2. Innovative – The entrepreneur constantly
looks for new ideas, thus he needs to be
creative.
Core Competencies
3. Profit Potential - The entrepreneur
can be compensated by his profit
coming from the operation.
4. Risk bearing – The entrepreneur
needs to gamble but wise enough to
offset the risk.
Types of Entrepreneurs
1. Innovative Entrepreneurs - They are those who
always make new things by thinking of new ideas.
They have the ability to think newer, better and more
economical ideas.
2. Imitating Entrepreneurs - They are those who
don’t create new things but only follow the ideas of
other entrepreneurs.
3. Fabian Entrepreneurs - They are skeptical about
changes to be made in the organization. They don’t
initiate but follow only after they are satisfied.
Types of Entrepreneurs
4. Drone Entrepreneurs - They are those who
live on the labor of others. They are die-hard
conservatives even ready to suffer the loss of
business.
5. Social Entrepreneurs - They are those who
initiate changes and drive social innovation and
transformation in the various fields such as
education, health, human rights, environment
and enterprise development.
Career Opportunities
1. Business Consultant - with the expertise of in the
field of entrepreneurship, he can be a very good source
of advices to other entrepreneurs and would be business
men.
2. Teacher - a graduate of an entrepreneurship can use
his knowledge in teaching.
3. Researcher - the entrepreneur can be employed as a
researcher by an enterprise.
4. Sales - the entrepreneurship graduate can apply as a
salesman.
5. Business Reporter - the entrepreneur being expert
in the field, can be employed as a business reporter.
Question
Time
Thank
You!
