ENTREPRENEURSHIP
Introduction to Entreprenuership
RELEVANCE OF ENTREPRENEURSHIP TO
AN ORGANIZATION
1. 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 “enterprende”, which
mean to undertake. This is pinpointing to
those who “undertake” the risk of
enterprise. The enterprise is created by an
entrepreneur and the process is called
“Entrepreneurship.”
Concept of Entrepreneurship
Entrepreneurs are innovators. They are
willing to take the risks and generate unique
ideas that can provide profitable solutions
to the needs of the market and the society
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.
Factors Affecting Entrepreneurship
1. Personality Factors which include:
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 Entrepreneurship
1. Personality Factors which include:
e. 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.
Factors Affecting Entrepreneurship
2. Environmental Factors which include
political, climate, legal system, economic and
social conditions and market situations.
Common Competencies in Entrepreneurship
1. Decisive - an entrepreneur must be firm 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.
Common Competencies in Entrepreneurship
4. Opportunity seeker - an entrepreneur must
have the ability to be the first to see business
chances.
5. Proactive – an entrepreneur can control 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.
Common Competencies in Entrepreneurship
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 in Entrepreneurship
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 in Entrepreneurship
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 5 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.
Types of 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.
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. environment and enterprise
development.
Types of Entrepreneurs
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 of Entrepreneurship
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.
Career Opportunities of Entrepreneurship
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.
