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Overview of Entrepreneurship

This document provides an overview of entrepreneurship. It defines entrepreneurship as developing a business venture to make a profit by seeking opportunities, establishing a business, and closely monitoring operations. Entrepreneurship benefits society through job creation, economic growth, and introducing new products and services. An entrepreneur is an individual who establishes and manages a business while acknowledging risks and rewards. There are five levels of entrepreneurial development from self-employment to true entrepreneurship. Common competencies of entrepreneurs include being proactive, agents of change, risk takers, and having a sharp eye for opportunities.

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Francheska Venize Barola Revillosa
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975 views10 pages

Overview of Entrepreneurship

This document provides an overview of entrepreneurship. It defines entrepreneurship as developing a business venture to make a profit by seeking opportunities, establishing a business, and closely monitoring operations. Entrepreneurship benefits society through job creation, economic growth, and introducing new products and services. An entrepreneur is an individual who establishes and manages a business while acknowledging risks and rewards. There are five levels of entrepreneurial development from self-employment to true entrepreneurship. Common competencies of entrepreneurs include being proactive, agents of change, risk takers, and having a sharp eye for opportunities.

Uploaded by

Francheska Venize Barola Revillosa
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Overview of

Entrepreneurship
Module 1
What is Entrepreneurship?
◦Entrepreneurship is a proactive process of developing a
business venture to make a profit.
◦It involves seeking opportunities for a market, establishing
and operating a business out of the opportunity, and
assessing its risks and rewards through close monitoring of
the operations.
Societal and Economic Benefits
1. Entrepreneurship produces more jobs that equate to an increase in
national income.
2. Entrepreneurship amplifies economic activities of different sectors
of society.
3. Entrepreneurship introduces new and innovative products and
services.
4. Entrepreneurship improves people’s living standards.
Societal and Economic Benefits
5. Entrepreneurship disperses the economic power and creates equality.
6. Entrepreneurship controls the local wealth and balances regional
development.
7. Entrepreneurship reduces social conflicts and political unrest.
8. Entrepreneurship elicits economic independence and capital
formation.
What is an Entrepreneur?
◦ The word “entrepreneur” has a French origin and was coined from
the words entre, which means “between”, and prendre, which
means “to take”.
◦ An entrepreneur is a unique individual who has the innate ability and
extraordinary dedication to establish and manage a business,
acknowledging all the risks and reaping its rewards.
Five levels of Entrepreneurial
Development
1. The Self employed
• Self employed persons are, simply put, not comfortable with the
routine of a desk job. They do not want to conform to a fixed
working schedule.
2.The Manager
• In this level, entrepreneurs feel the need to step up and ask some
help from the people around them. They delegate and hire
potential employees to do work.
Five levels of Entrepreneurial
Development
3. The Leader
• Entrepreneurs in this level is already enjoy seeing their people
flourish stepping up and producing great results with minimal
supervision.
4.The Investor
• Investors look for more opportunities for their business to grow.
Five levels of Entrepreneurial
Development
5. The True Entrepreneur
• The entrepreneurs now aim for quality and excellence in their work. They have fully
learned, and continue to practice , a four-step process of thinking.
Idealization- entrepreneurs dream enormously and desire to build an ideal
environment.
Visualization- entrepreneurs start to create plans to make the dream reality.
Verbalization- involves sharing their ideas with other people, knowing that
their vision already occur
Materialization- happens when the vision becomes reality.
Common Competencies in
Entrepreneurship
1. Proactive
• Entrepreneurs are reactive rather than passive. They address issues, problems, and
challenges before they come rather than when they already happened.
2. Agents of Change
• Entrepreneurs are innovation champions. They see opportunities in hopeless and
complex situations.
3. Risk Taker
• Entrepreneurs will not be successful if they do not take risks. They do not just
grab opportunities left and right; they have to take into consideration the
potential various threats they may encounter.
Common Competencies in
Entrepreneurship
4. Have a sharp eye for opportunities.
• Entrepreneurs have a talent for recognizing an opportunity even by using the macrolevel data only. They know how to assess the net

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