7.

Decisive
8. Balanced
Lesson 1: Introduction to 9. Innovative
Entrepreneurship
Employment or Entrepreneurship?

What is Entrepreneurship?
Entrepreneur Employee
- It is a Proactive Process of developing a INCOME
business venture to make a profit. It
involves seeking opportunities for a - generated passively - generated actively
market, establishing and operating a - unlimited - usually fixed
business out of opportunity, and - only earned when - earned whether the
assessing its risks and rewards through the business is business is successful
close monitoring of the operations. booming or unsuccessful

Societal and Economic Benefits of HIRING & FIRING, ORGANIZATIONAL

SETUP
Entrepreneurship
- provides jobs - seeks for a job
1. Creates Employment - responsible for - goal of satisfying
2. Amplifies economic activities making the business only the employer
3. Introduces Innovation profitable
4. Improves quality of life
5. Disperses the economic power and DAILY TASKS
creates equality
6. Controls local wealth - performs all - has routine tasks
7. Reduces Social Conflicts necessary variable and works
8. Stimulates Investments task to establish - follow policies,
business and manage procedures, and
a startup business memoranda from the
What and Who is an Entrepreneur? - prepares policies, employer
procedures, and
memoranda for the
- The word “entrepreneur” has a French business
Orgin and was coined from the word
entre, which means between, and pendre, LEISURE TIME AND VACATIONS
which means to take
- An entrepreneur is a unique individual - Flexible Schedule - Limited number of
who has the innate ability and and an Unlimited vacation days
extraordinary dedication to establish and number of vacation imposed by the
manage a business, acknowledging all days employer
the risk and reaping its rewards
COMFORT LEVEL AT WORK
What takes to be an Entrepreneur?
- comfortable in doing - comfortable with
multiple tasks and routines and minimal
1. Calculated & Logical take accountability for risks
2. Motivated & Focused the risks and profits of
3. Confident & Outgoing the business
4. Creative & Innovative
5. Patient & Perseverant
6. Passionate & Determined - A micropreneur is someone who starts
and manages a very small business.

Common Competencies in
Entrepreneurship
Lesson 2: Recognizing the Potential
1. Proactive Market
2. Agents of Change
3. Risk Takers
4. Sharp eye for opportunities
5. Sociable The Entrepreneurial Process
6. Networkers
 - It is a step-by-step procedure in 2. Screening the Opportunity
establishing any business that an 3. Seizing the Opportunity
entrepreneur has to undergo
Opportunity Seeking - Actively looking for
1. Opportunity Spotting and Assessment potential business ideas or gaps in the market by
- This phase involves identifying a analyzing trends, customer needs, and emerging
potential business opportunity or technologies.
idea and evaluating its feasibility.
Entrepreneurs analyze market Macroenvironmental Sources
trends, customer needs, and - Macroenvironmental sources of
competition to assess whether the opportunities refer to broader external
opportunity has the potential for factors that can influence and create
success. opportunities for businesses.
2. Developing a Business Plan
- Once an opportunity is validated, STEEPLED
the entrepreneur creates a detailed - A framework that examines various
business plan. This plan outlines macroenvironmental factors affecting
the business model, target market, businesses. It stands for Social,
marketing strategy, operations, and Technological, Economic, Political, Legal,
financial projections. Environmental, and Demographic factors.
3. Determining the Capital Needed
- This phase involves calculating the
total funding required to start. Definition Examples
Entrepreneurs identify costs
related to equipment, inventory, SOCIO-CULTURAL FACTORS
staffing, marketing, and more.
4. Running the Business These factors - Health
- After securing the necessary represent a general Conciousness
capital, the entrepreneur launches view of a locality’s - Education Level
the business and begins traditions, customs,
day-to-day operations. This phase beliefs, norms, and
includes managing resources, perceptions.
marketing, customer service, and
adapting to market changes.
TECHNOLOGICAL FACTORS
Scanning the Marketing Environment These are composed - Rate of
of innovations of an Technological Change
- It is the starting point of any new venture existing technology or - Access to Newest
that involves understanding and knowing an invention of a new Technology
the intricacies of its general environment, one mostly on applied
where an entrepreneur can recognize science and
various opportunities and at the same engineering research
time understand thoroughly the arena areas
where the future business will operate.
Opportunity - It is an entrepreneur’s business ECONOMIC FACTORSS
idea that can potentially become a commercial
product or service in the future. - These factors - Unemployment
include income, Trends
General Rule: expenses, and - Labor Cost
Find the opportunity first before coming up with a resources that can Inflation Rates
new product or service, not the other way influence the cost of
around. doing the business
and generating
Opportunity Spotting - It is the first step and is income
the most challenging process due to the number
of options that the entrepreneur will choose.
ENVIRONMENTAL or ECOLOGICAL
The 3S of Opportunity Spotting and FACTORS
Assessment
- is the framework most promising - The scan of these - Weather
entrepreneurs use to finally develop the factors will help the - Attitude towards
ultimate product or service suited for a entrepreneur “green” or ecological
specific opportunity. determine if the products
business he or she is - Recycling
1. Seeking the Opportunity entering into will
 areas where they fall short,
comply with the allowing a business to offer better
environmental solutions or differentiate itself.
standards or will just 3. Unexpected Opportunities
be a hazard to people, - Sometimes, unforeseen events or
animals, and nature changes can create new business
possibilities.
POLITICAL FACTORS 4. Talents, Hobbies, Skills, and Experties
- Leveraging personal or team skills
- These factors are - Tax Policy and knowledge can lead to
mostly induced by innovative products or services.
government policies For example, turning a hobby into
and administrations, a business or using specialized
which have a strong skills to solve unique problems.
effect on the 5. Location
entrepreneur’s - The geographical location of a
business business can create opportunities
based on local demand, resources,
LEGAL FACTORS or market conditions. For instance,
a business in a tourist-heavy area
- These are - Consumer Protection might capitalize on travel-related
government laws and - Employment Law products or services.
regulations that can - Health & Safety Law
restrict or allow Opportunity Screening - It is the process of
business activities cautiously selecting the best opportunity. The
selection will depend on the entrepreneur’s
ETHICAL FACTORS internal intent, external intent, and risk appetite.
- These are factors - Ethical advertising “Risk Appetite” - It refers to the entrepreneur’s
that will serve as an and sales practices tolerance of business risks.
entrepreneur’s guide - Attitude toward
on how to be ethical in counterfeiting and BUSINESS OPPORTUNITY ELEMENTS
running the business breaking patents 1. Viability - Whether the idea will have a
reasonable chance of success
DEMOGRAPHIC FACTORS 2. Profitability - Possible return on
investment and profit
- These are the - Gender Distribution 3. Customer Requirement - The Product
characteristics of - Family Size and will meet customer needs
people in the target Structure
market Opportunity Seizing - It is the last step in
opportunity spotting and assessment. This is
"pushing through" with the chosen opportunity.
Industry - This is the current trend on what is The entrepreneur's idea can be any innovation.
happening in the industry where the future
business will belong to. “Innovation” - It is the process of positively
improving an existing product or service
Discovery or Knowledge - New discovery or
trends that can be the core business model of the 1. Breakthrough innovation – These
new venture innovations, which may also involve
inventions, infrequently occur as these
Microenvironmental Sources establish the platform on which future
- Microenvironmental sources of business innovations in an area are developed.
opportunities are factors within a specific 2. Technological innovation – These
industry or market that can influence a innovations occur more frequently than
business's ability to identify and exploit breakthrough innovations. These are
opportunities. technological advancements of an
1. Consumer Preferences, Interests, existing product or service.
Perception 3. Ordinary innovation – These innovations
- Understanding what consumers occur ordinarily, as the name implies.
want, their interests, and how they They are commonly originating from
perceive products can reveal gaps market analysis and technology pull
in the market and guide the instead of a technology push.
development of products or
services that better meet their
needs. Lesson 3: Project Background
2. Competitors
- Analyzing competitors can uncover
market gaps, weaknesses, or
 - Describe in general the products or
Parts of the Business Plan (Main services that you are going to offer.
Chapters)
8. Location of the Business
- State the exact location and
1. Project Background provide explanation for choosing
2. Organizational Plan this location
3. Marketing Plan
4. Operational Plan
5. Budget Plan Lesson 4: Organizational Plan
Business Overview - presents the nature of the
business, rationale, and brief description of the - Outlines the internal structure of the
project that is being pursued. business, detailing how the business will
be managed and the key personnel
What to Include? responsible for its operations. It highlights
the roles, responsibilities, and reporting
relationships within the business to ensure
1. Introduction smooth functioning and alignment with
- aims to introduce the readers to business objectives.
the nature of the proposed
business.
- provides the reader with the Subsections
context and explains the
circumstances that led to the 1. Chapter Introduction
proposed business.
2. Vision Statement
2. Rationale - The vision statement gives the
- Market problems that the business company direction.
intends to solve. - The vision statement is about what
- This paragraph clearly and you want to become.
explicitly states why the business - What are our hopes and dreams?
plan was proposed.
3. Mission Statement
3. Nature of the Business - A mission statement is a concise
- Clearly describe the nature of the explanation of the organization's
business, including its industry. reason for existence.
- Example: The proposed business - It describes the organization's
is a café operating in the food and purpose and its overall intention.
beverage industry. WHY VISION AND MISSION MATTER IN A
BUSINESS PLAN
4. Business Name In a business plan, the vision and mission
- Avoid hard to spell names. statements are important because they:
- Research to check if your business
name is similar to others. Set Goals: The vision shows where the business
- Use a name that conveys some wants to go, and the mission explains what it
meaning. does now.
- Assess if the name sounds good
and catchy. Inspire: They motivate employees and attract
investors.
5. Logo
- A logo can be considered as one Guide Actions: They help make decisions and
of the main graphic elements that keep the business on track.
allow people to quickly identify an
organization, its products, and Define Identity: They shape the business’s
services brand and customer appeal.
6. Tagline 4. Manpower Requirements
- A tagline is a short phrase that - A structured summary that outlines
captures and projects the overall the key roles, the number of
value you offer to your customers. employees for each position, and
- It is part of your brand identity that their main responsibilities.
provides clarity about who you are - It provides a clear view of the staff
and the promise you make to your structure and the operational
customers. duties of each role within the
business.
7. Overview of the Products/Services
 5. Job Description & Job Specification - All forms of pay given by
employers to their employees for
Job Description Job Specification the performance of their jobs.
- It includes wages, salaries, and
MEANING bonuses.
Job Description is a The statement which Importance of Compensation and Benefits
concise written explains the minimum - Attracting top talent
statement, explaining Eligibility - Motivating Employees
about what are the requirements, for - Employee Retention
major requirements of performing a particular - Increased Productivity and Profitability
a particular job. job is known as Job - Job Satisfaction
Specification.
Note on Compensation
LIST OUT In the Philippines, barangay micro businesses
are generally exempted from the minimum wage
Job title, duties, tasks, Employee's law under certain conditions. According to the
and responsibilities qualification, skills and Department of Labor and Employment (DOLE)
involved in a job abilities. guidelines:

WHAT IS IT Barangay Micro Business Enterprises

(BMBEs): BMBEs are defined as small
It expresses what a It expresses what an enterprises with total assets of P3 million or less.
prospective employee applicant must They are entitled to certain incentives and
must do possess benefits under the BMBE Act (Republic Act No.
when he will get the for getting selected. 9178).
placement
Minimum Wage Exemption: For BMBEs, there
EXAMPLES is often an exemption from the minimum wage
requirements. This exemption is intended to help
small businesses manage their payroll expenses
Provides a positive At least Senior High more effectively and foster growth.
customer experience School graduate
with fair, friendly, and Conditions for Exemption: While BMBEs may
courteous service. 1 year experience as be exempt from minimum wage laws, they are
a cashier still required to comply with other labor
Registers sales on a standards, including providing appropriate
cash register by Effective benefits such as Social Security System (SSS)
scanning items, communication and contributions, PhilHealth, and Pag-IBIG Fund
itemizing, and totaling customer service skills contributions.
customers’ purchases.
With pleasing 8. Management Policies
Resolves customer personality - Management policies are formal
issues and answers guidelines and rules established by
questions. an organization to ensure
consistent and effective
Pack and bag operations. They provide a
purchases if needed. framework for decision-making and
help maintain order and efficiency
Processes return within the organization.
transactions.
What to include in the Management Policies?
- Attendance and Punctuality Policy
6. Employee Work Schedule - Uniform Policy
- An employee work schedule - Grooming and Hygiene Policy
includes the days and time that an - Work Schedule and Break Policy
employee is scheduled to be on - Customer Service Policy
the job. - Food Safety and Handling Policy
- Should be reflected using a table. - Cash Handling Policy
- Employee Conduct Policy
When creating employee schedules, make - Safety Policy
sure: - Disciplinary Actions
- Each employee has at least 1 day off per
week. Good Luck :))))) - TenTen
- Shifts do not exceed 8 hours per day,
excluding break time..
7. Compensation and Benefits