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34 views

01 Overvew

Uploaded by

dladyjuliana
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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01 Overview of Entrepreneurship 3. Risk-takers.

Entrepreneurs calculate risks; if


Entrepreneurship comes from the French word they think that something has a high chance
“entreprendre,” which means to undertake, of succeeding, they push through with the
pursue opportunities, and fulfill needs and wants venture and do not let the opportunity pass.
through innovation.
4. Opportunity-seekers. Entrepreneurs go out
Entrepreneurship is a continuous process of
of their way to recognize opportunities and
developing a business, making profit a priority.
decide intelligently if a venture should be
Because of this goal, it involves processes like
finding opportunities, studying your target considered or not.
market, establishing and operating the business
itself, and weighing both risks and rewards of the 5. People person. Becoming an entrepreneur
business through close monitoring of operations. takes more than just hard, analytical skills. It
Why do we need to study and learn also requires soft skills like the ability to relate
ENTREPRENEURSHIP? to different types of people and establish solid
relationships with employees, customers, and
1. It nurtures personal growth and development. partners.
2. It taps into unrealized talents.
3. Risk is something to live with. 6. Networkers. Good entrepreneurs
4. It makes us critical thinkers. immediately keep an eye on the best people
5. It benefits society. to connect or partner with.
6. It allows us to make a difference.
7. Decisive. Not only are entrepreneurs able to
7. It prepares us for real life.
make big and small decisions, but they are
Societal and Economic Benefits of also critical in thinking of the long-term
Entrepreneurship effects of every decision that they are making
for the business.
1. Entrepreneurship produces additional jobs
that equate to an increase in national 8. Balanced. An entrepreneur must have
income. balanced thinking through the right mix of
2. Entrepreneurship amplifies the economic creative and practical.
activities of different sectors of society.
3. Entrepreneurship introduces new and 9. Innovative. The minds of entrepreneurs are
innovative products and services. rich with large ideas that can add value to
4. Entrepreneurship improves people’s living their existing business or be a game-changer
standards. in the industry or business they belong to.
5. Entrepreneurship disperses economic power
and creates equality. Core traits that entrepreneurs should develop in
managing and running the business:
6. Entrepreneurship controls the local wealth (Entrepreneurship-finals-pointers-to-review.docx,
and balances regional development. n.d.)
7. Entrepreneurship reduces social conflicts and
political unrest. 1. Leaders. Successful entrepreneurs always
have the heart of a leader. To be successful
Common and Core Competencies in leaders, they must be a source of inspiration
Entrepreneurship
Entrepreneurship is a career that requires an for their employees. They must be humble,
overabundance of common and core approachable, friendly, and know-how to
competencies. Therefore, to be considered a listen to people’s concerns.
successful entrepreneur, one must possess
common entrepreneurial competencies
2. Communicators. To engage in negotiations
throughout their entrepreneurship career. At the
same time, one should also have core and proposals, an entrepreneur must be an
competencies that are important for business excellent communicator. They must be
sustainability and management. proficient in all communication forms and
Common traits that entrepreneurs should platforms to address the needs of customers
always have: or employees effectively.

1. Proactive. Entrepreneurs are active and not 3. Specialists. Entrepreneurs are experts in
passive. They forecast and address issues, their chosen businesses. They are tactical and
problems, and challenges before it happens. keen on details.

2. Agents of change. Innovations are common 4. Problem solvers. Entrepreneurs possess


in society. Entrepreneurs always strive to critical thinking skills and look at problems as
improve and develop new products and challenges or puzzles that they need to solve.
services and introduce them to the market.

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