ENTREPRENEURSHIP 12

ST
1 Quarter Examination Reviewer

 Entreprendre is the origin word of Entrepreneur which means to undertake.

 Entrepreneur is an individual who sets up a business with the aim to make a profit and creates new business,
bearing most of the risks and enjoying most of the rewards.
They are important in the society Because they develop the economy through providing needed products and
services.
Example of an entrepreneur
Owner of a restaurant in zamboanga city create environmental utensils that uses cassava which will slowly
decompose on its own and is now available in the market.
 Entrepreneurship refers to the process in designing, launching, and running the business operations
 Self-employed is an individual who earn income by contracting with a trade or business directly
 Businessman/woman operates a business with the same old business idea and Businessman focuses on profit
alone. franchise business is usually done by businessman.
 Proactive is doing things even before being told
 Communicator is also convincing customers to buy the product
 Decisive is competency of an entrepreneur that must be firm in making decisions
 Entrepreneurial competencies is a professional skills, knowledge, and behaviours that impact the
performance as an entrepreneur
 Entrepreneurs must be profit potential because they are compensated by the profit coming from their
operation. to generate their profit to create new ventures/products/services. make their business grow.
 Entrepreneurs need to gamble but wise enough to offset the risk.
 Social Entrepreneur refers to an individual who starts a business with a social mission to create positive
change in society and improve the lives of others. they drive social innovation and transformation in various
fields
 Drone entrepreneur is a type of entrepreneur who lives on the labor of others
 Imitating Entrepreneurs are the type of entrepreneurs who are to follow the path shown by innovative
entrepreneur. They takes inspiration fro existing business. They are good at learning from other people’s
mistakes to ensure their business thrives. They work hard to improve the idea of other entrepreneurs.
 Drone entrepreneurs are die-hard conservatives even ready to suffer the loss of business. They takes pride in
their success and continue doing it. They don’t want innovations or changes.
 Career opportunities in entrepreneurship are Business consultant, Teacher, Research and development, Sales,
and Business reporter
 Business Reporter as a career opportunities in entrepreneurship follow ups on other people if they are
interested in the products that they have.
 Teacher uses his/her knowledge in entrepreneurship by sharing and inspiring young people
 Business Researcher look for useful facts and information. They interpret data and making conclusions. They
recommend courses of action to every problem
 Business Consultant must be an expert of the field of entrepreneurship.
 Opportunity is the situation or occasion that makes it possible to do something that you want to do
 Opportunity Screening refers to the process of cautiously selecting the best opportunity. And is the most
important part of an opportunity-driven entrepreneurship and Time, Knowledge to discern and efforts are
what consumes an entrepreneur in screening a potential promising opportunities.
 Curiosity to discover new or different ideas is an endless attitude does an entrepreneur should have as
an opportunity seeker
 To have a greater efficiency and better economics entrepreneurs must do Their operational capability
by employing new technologies and Innovative, Creates value with new products, and tinker is shows an
entrepreneur as opportunity seekers
 adding new product features to existing ones and by upgrading the quality of the existing products,
shows an entrepreneur that finds better way of making/creating value to a product
 Opportunity Screening shows to this situation “an Entrepreneur Engineer, research thoroughly on
what’s the best feature of a washing machine mother’s need that gives less attention and energy for
them and great efficiency on the laundry”
  Example of potential opportunity “Value Meal on the go delivery and Vending Machine of instant food
inside the campus are samples of a potential opportunity as an entrepreneur coming up a product or
service if there’s a high percentage of students don’t bring their food for lunch”
 Crafting a positioning statement is an opportunity seizing that an entrepreneur is advised to look at other
competitors in the market place.
 Presenting a new feature of a product to the company’s board members is an example of Idea Stage on the
product planning and development process.
 Concept Stage refers to a stage in Product planning and development process where refinement of ideas.
 Product Development Stage refers to a stage in Product planning and development process where the
business idea are concretized with the production of a prototype.
 Opportunity Seizing is the last step in opportunity spotting and assessment
 Innovation is the process of positively improving an existing product or service
 Breakthrough Innovation is the type of innovation that occurs infrequently as these establish the platform on
which future innovations in an area are developed.
 PLDT telecom 6G internet is an example of a Technological Innovation and changing it to different plans
of internet is an example of Ordinary Innovation
 Identify the main customer segments and differentiate product attributes and features of each of the
competitors are some of the reasons on how to choose or come up with a competing product or service
 Marketing Mix refers to the combination of elements that shape how a business delivers value to its
customers.
 All the marketing activities must be aligned to support marketing objectives. is the importance of
marketing mix in the development of marketing strategies
 One of the reasons to explain the importance of marketing mix. “It is a guide to improve a business
 the importance of marketing mix. Is it helps in a clean mix creation, guide to improve a business, and
helps in differentiation.
 Physical Environment, process and people are the 3Ps to consider if a company is providing a service rather
than a product
 Product, Price, Place and Promotion are the 4Ps of Marketing Mix
 The reason why Product, Price, Place and Promotion are the key factors in marketing mix because It is
the right combination of the marketing tools that enables the company to attract as much profit as
possible.
 Price refers to how much the product is worth.
 C1 Jollibee meal is an illustration of Product in the 4Ps of Marketing Mix?
 The use of marketing mix in marketing strategy consist everything that a company do to influence demand
for its products