Reviewer for Entrepreneurship

Unit 1: Understanding the Concept of Entrepreneurship

Lesson 1: Overview and Concepts
Entrepreneur
-​ A person who creates unique ideas and turns them into business ventures.
-​ Focuses on being an employer rather than an employee.

Entrepreneurship
-​ Science of converting processed ideas into a business venture.
-​ Involves taking risks to earn profit.

Why Study Entrepreneurship?

-​ Increases entrepreneurial interest.
-​ Helps discover innovators and competent entrepreneurs.
-​ Enhances idea generation, business planning, and management.
-​ Develops career and life skills (problem-solving, teamwork, creativity).

Businessman vs. Entrepreneur

Businessman: starts with existing ideas.
Entrepreneur: starts with unique ideas.

Entrepreneurial Competencies
Common Competencies: goal-setting (SMART), self-efficacy, adaptability, risk-taking, interpersonal
skills.
10 Competencies for Success: integrity, conceptual thinking, risk-taking, collaboration, strategic thinking,
decisiveness, optimism, customer relations, people-centered mindset.

Lesson 2: Core Competencies in Entrepreneurship

Core Competencies
Defining strengths that make a business stand out from competitors. Developed by Prahalad & Hamel
(1990):
a.​ Provides superior value.
b.​ Hard to imitate.
c.​ Rare in the market.

Core Competencies of an Entrepreneur

a.​ Entrepreneur as a missionary (passion-driven).
b.​ Goal-driven (clear, measurable targets).
c.​ Marketing man (focus on customer acquisition/retention).
d.​ Starts small to big (growth mindset).
Factors that Develop Entrepreneurial Activity
a.​ Initiative (idea → action).
b.​ Capital resources (financial + human).
c.​ Administrative machinery (clear structure, roles).
d.​ Autonomy (independence, risk management).

SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats).

Example
Tony Tan Caktiong (Jollibee): started small, innovative, customer-oriented → became a large company.

Lesson 3: Relevance and Opportunities in Entrepreneurship

Job Opportunities in Entrepreneurship
-​ Advertising & Marketing
-​ Business Development
-​ Design (fashion, product, packaging)
-​ E-commerce & Social Media
-​ Management & Consulting
-​ Software/Web Development
-​ Sales & Account Executives
-​ Product Management

Starting Point to Entrepreneurial Success

-​ Start on your own.
-​ Explore the business environment (SWOT).
-​ Be in control (management, decision-making).
-​ Have a financial adviser/accountant.
-​ Seek legal/professional advice.

Profile of a Successful Entrepreneur

-​ Independent and self-reliant.
-​ Strong drive to succeed.
-​ Decisive and determined.
-​ Uses feedback as improvement.
-​ Result-driven.
Unit 2: The Business Plan
Lesson 1: Definition, Purpose, and Market Needs
Business Plan
Written description of the business (roadmap).
a.​ Purposes: test feasibility, ensure success, secure funding, effective planning, attract investors.
b.​ Qualities of a Good Business Plan
-​ Realistic.
-​ Specific (goals, tasks, deadlines).
-​ Followed through (review and update).
-​ Identifying Customer Needs (4 Steps)
-​ Gather data (interviews, focus groups, observation).
-​ Interpret data (filter essentials).
-​ Organize data (categorize, prioritize).
-​ Reflect on process.
c.​ Kano Technique
-​ Attractive quality (nice-to-have).
-​ One-dimensional quality (directly linked to satisfaction).
-​ Must-be quality (basic expectation).
-​ Indifferent quality (no effect).
-​ Reverse quality (may cause mixed reactions).

Lesson 2: Business Plan Contents

a.​ Business Plan Introduction
Overview of business concept, model, and goals.
b.​ Business Concept & Model
Concept: essence of business (value to customers).
Model: how the business makes money (revenue, cost management, investment, financing).

c.​ Business Goals

-​ Long-term vision and objectives.
-​ Must be measurable and time-bound.

d.​ Executive Summary

-​ Brief overview (opportunity, market, strategy, competition, financials, implementation).
Tips: clear, positive, concise, reader-focused.

e.​ Business Proponents (Stakeholders)

-​ Resource Mobilizers (investors).
-​ Technology Providers.
-​ Government/Top Management.
-​ Operations & Support Team.

f.​ Target Customers

 -​ Defined segment (demographics, psychographics, behavior).
-​ Helps focus resources on profitable clients.

g.​ Value Proposition

-​ Promise of value delivered to customers.
Benefits: market differentiation, better leads, higher revenue, stronger brand.

h.​ Products/Services Offering

-​ Short explanation of products.
-​ Pricing strategy.
-​ Competitive advantage.
-​ Marketing/ordering process.
-​ Legal/trademark issues.
-​ Future offerings.

Presentation of Business Plan

Entrepreneurs should present business plans clearly to stakeholders (investors, banks, mentors).
Must highlight: vision, market, operations, financial projections, and competitive edge.

Evaluation of Business Plan

-​ Criteria include feasibility, clarity, completeness, innovativeness, and financial potential.
-​ Business plans should be updated regularly to adapt to changing environments.

Unit 3: Entrepreneurship in the Philippine Context

Lesson 1: Filipino Entrepreneurial Traits

Positive Traits of Filipino Entrepreneurs

-​ Hardworking and resilient.
-​ Family-oriented.
-​ Innovative and resourceful.
-​ Adaptable and flexible.
-​ Hospitable and service-oriented.

Challenges of Filipino Entrepreneurs

-​ Limited capital and resources.
-​ High competition.
-​ Bureaucratic requirements.
-​ Economic instability.
Lesson 2: Government and Non-Government Support
Government Agencies Supporting Entrepreneurs
-​ DTI (Department of Trade and Industry): business registration, training, SME support.
-​ TESDA: skills training.
-​ DA (Department of Agriculture): agri-business programs.
-​ GO Negosyo Act: encourages MSMEs (Micro, Small, and Medium Enterprises).

Non-Government Organizations
-​ Cooperatives, business incubators, and private organizations provide mentorship, funding, and
training.

Lesson 3: Trends and Opportunities in Entrepreneurship

Emerging Opportunities
-​ Technology-based businesses (apps, e-commerce).
-​ Sustainable/eco-friendly businesses.
-​ Food and beverage innovation (delivery, health-focused).
-​ Creative industries (design, fashion, digital content).
-​ Globalization & Digitalization
-​ Opens new markets.
-​ Increases competition.
-​ Encourages online entrepreneurship.

Unit 4: Entrepreneurial Ethics and Social Responsibility

Lesson 1: Ethics in Entrepreneurship
-​ Ethics: moral principles guiding business behavior.
-​ Importance: builds trust, ensures long-term sustainability.
Ethical entrepreneurs prioritize honesty, fairness, transparency, and accountability.

Common Ethical Issues

Fraud, corruption, unfair labor practices, false advertising.

Lesson 2: Social Responsibility of Entrepreneurs

Responsibility of entrepreneurs to contribute positively to society.

Examples of Social Responsibility

-​ Providing fair wages.
-​ Supporting environmental sustainability.
-​ Giving back to communities (CSR – Corporate Social Responsibility).
-​ Creating safe and quality products.
-​ Triple Bottom Line
Profit: sustainable business.
People: positive impact on community.
Planet: environmentally responsible practices.