Other Types of Businessperson:

Entrepreneurship
First Quarter Notes • 2022-2023 1. Technopreneur - entrepreneur who puts
technology at the core of his or her
business model.
- Apple, Microsoft, Facebook
.·:*¨༺ ENTREPRENEURSHIP ༻¨*:·.
2. Intrapreneur - entrepreneur in a large
- It is a process of designing, launching, company or corporation who is tasked to
and running a new business; which typically think, establish, and run a new big idea or
begins as a small business, such as a project.
start-up company, offering a product, - Within the enterprise.
process or service for sale or hire.
3. Extrapreneur - entrepreneur who hops
from one company to another to act as the
Salient Features of Entrepreneurship: innovation champion, producing creative
★ Entrepreneurship is an art of and efficient solutions.
correct practices. (law) - Outside the enterprise.
★ Entrepreneurship is a wealth
creating venture. 4. Social Entrepreneur - who takes
★ Entrepreneurship provides valuable advantage of the country’s social problem
goods and services. and turns them into profitable institutions
★ Entrepreneurship entails opening with the intention of helping the
and managing the self-owned disadvantaged community rather than
enterprise. making profit.
★ Entrepreneurship is a risk-taking - Investment in goodness
venture. (calculated risk) - Funds are allotted for their social
mission and reproduction only.

Entrepreneur Business + CSR (Corporate Social

Responsibility) - Jollibee
- Entrepreneur came from a French word
“Entreprendre” which means to undertake. Top 10 Richest in the PH:
- It comotes a business paradigm which
signifies the start of the new business
undertaking. 1. Manuel Villar
- A person who organizes, operates, and 2. Enrique Razon, Jr.
assumes the risk of business ventures. Also 3. Lucio Tan
a person who strongly advocates and 4. Hans Sy
correctly practices the concept and the 5. Herbert Sy
principles of entrepreneurship. 6. Andrew Tan
7. Harley Sy
Entrepreneurship - process 8. Henry Sy, Jr.
Entrepreneur - person 9. Teresita Sy-Coson
Entrepreneurial Venture - business 10. Elizabeth Sy
enterprise/s

sevdiors : AY ‘22-’23
 Misconceptions on Entrepreneurship: environment: environment: Only
Foresee and cope. cope.
★ Entrepreneurship only applies to a
Competition: Competition:
manufacturing business. Motivation Threat
★ Entrepreneurship only applies to
small businesses. Sources of funds: Sources of funds:
Maybe both Only internal.
★ Entrepreneurship applies mostly to external & internal.
persons with a good educational
background in a business course.
★ Entrepreneurship only applies to a The Environment of the
good economy. Entrepreneurial Venture
★ Entrepreneurship is simply opening
a small business. What is Environment Scanning?
This refers to gathering, critical
Flow of Entrepreneurial Benefit: evaluation, and utilization of information of
events and activities, and their relationship
with the physical, societal, and industry
environments.

SWOT Analysis - it is a strategic planning

and strategic management technique used
to help a person or organization identify
Strengths, Weaknesses, Opportunities, and
Threats related to business competition or
project planning.

Small Business VS
Ordinary Small Business

A business that A business

correctly adapts managed and
and practices the operated by an
principle of owner who is not
entrepreneurship. an advocate of and
does not practice
It possessed the the concept and
salient features. principles of
entrepreneurship.
It has a workforce Does not possess
of not more than the salient
20 persons. features.
Risk: Long Term Risk: Short term
Motive: For wealth Motive: For own
& profit good
Alternative Courses of Action (ACA) -
Changes in the Changes in the these are the possible actions that a firm or

sevdiors : AY ‘22-’23
organization can implement to address the ★ Consumer Psychology
problem indicated in the case study. ★ Time Orientation
★ Lifestyle Patterns
What is PESTEL Analysis? ★ Professional Career Roles
This studies the key external factors
(Political, Economic, Sociological, B. Political Forces - various elements
Technological, Legal and Environmental) usually comprising the political
that influence an organization. parties, political systems, and other
related political groups that
substantially influence the political
stability of the country.
★ Trade Regulations
★ Taxation
★ Government Stability
★ Unemployment
★ Worker’s Benefit
★ Electron Practices

C. Cultural Forces
★ Religion
★ Language
★ Beliefs
★ Customs
★ Education
1. Physical
2. Societal D. Economic Forces
3. Industry ★ Interest Rates
★ Inflation
★ Fiscal Policy
1. Physical Environment - composed of the ★ Monetary Policy
natural elements that are inherited on ★ Income
Earth. It is divided into three: ★ Exchange Rates
● Climate ★ Employment
● Physical Sources
● Wildlife E. Legal Forces - law, ordinances,
government, etc.
2. Societal Environment - composed of the
different forces existing in the environment F. Technological Forces - these are
such as: trends and developments in the
A. Social Forces - elements in the computer that occur almost every
society resulting from human day.
interaction that can influence the
thoughts, behavior, actions, and 3. Industry Environment - where trends
even the beliefs and customs of the and changes are easily and immediately
people. felt by the business.
★ Values What are considered as the immediate
★ Literacy Level environments of the business?

sevdiors : AY ‘22-’23
● Suppliers Advantages:
● Customers ★ Owner receives all the profit.
● Employees ★ Profits are taxed only once.
● Creditors ★ The owner makes all decisions and
● Competitors is in complete control of the
○ Direct - same product company.
○ Indirect - alternative product ★ The easiest and least experienced
form of ownership to organize.

Nature of Business Organization Disadvantages:

1. Service Business - provides ★ Unlimited liability if anything
intangible products to its clients. happens in the business. Personal
★ Law Firms assets are at risk.
★ Accounting Firms ★ Limited in raising funds.
★ Public Relations Firms ★ No separate legal status.
★ Medical Practitioners
2. Partnership - two or more (infinite)
2. Merchandising Business - buy and people share ownership of a single
sell business.
★ Grocery Stores
★ Distributors Advantages:
★ Convenience Stores ★ Easy to establish
★ Separate legal status to give liability
3. Manufacturing Business - protection
transformation of raw materials ★ Profits taxed only once
★ Factories ★ Partners may have complementary
skills
4. Agriculture Business - engaged in ★ Limited assets
farming and producing farm inputs.
★ Farm Machinery Disadvantages:
Manufacturing ★ Partners are jointly and individually
★ Seed Supply liable for the actions of the other
★ Agrichemicals partners.
★ Profits must be shared with the
5. Hybrid Business - combination of partners.
two or more types of business. ★ Divided decision making.
★ Restaurants
★ Fast Food Chains In case of termination,
A. Dissolution - temporary termination
B. Liquidation - permanent termination
Forms of Business Organization

1. Sole Proprietor - owned by one

person, usually the individual who 3. Corporation - considered by law to
has day-to-day responsibility for be a unique entry, separate from
running the business. those who own it. This can be taxed,

sevdiors : AY ‘22-’23
 sued, and entered into contractual
agreements.

Advantages:
★ Limited liability
★ Transfer of ownership, shareholders
can sell their shares.
★ Capital is easier to raise through the
sale of stock.
★ Company paid fringe benefits.
★ Tax benefits.

Disadvantages:
★ Double Taxation
★ Costly to form
★ More administrative duties-required
by law to have annual meetings
★ Pay corporate taxes at a different
time than other forms of business.

4. Cooperative - autonomous
association of persons united
voluntarily to meet their common
economic, social, and cultural
needs, and aspirations through a
jointly owner.

sevdiors : AY ‘22-’23