ENTREPRENEURSHIP

z
 • she peeled paper of discarded
z cigarettes and was paid 5
centavos per pack
• her siblings had to work in candy
and bubble gum factories
• her elder sister married the son of
an established bookstore owner
landing this lady a job as a
salesgirl in one of the book stalls
• seems this lady was destined to
pursue a career related to books
for soon enough she met Jose,
the son of a bookstore clan.
• first store was destroyed during
SOCORRO CANCIO-RAMOS the war
 z

Entrepreneurship
 proactive process of developing a business venture to
make a profit
 involves seeking opportunities for a market
 establishing and operating a business out of the
opportunity
 assessing its risks and rewards through close monitoring
of operations
 z

Entrepreneurship
 process of creating something new
and assuming the accompanying risk
and rewards

- Robert Hisrich
 z

Entrepreneurship

 “It is making the world forever new. It

is taking aggressive actions.”

- George Gilder
 z

Entrepreneurship

 “It is destroying the old order and

creating new ones.”

- Joseph Schumpeter
 RELEVANCE ,
SOCIETAL AND
ECONOMIC
z
BENEFITS
OF
ENTREPRENEURSHIP
1. Entrepreneurship
z
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.
5. Entrepreneurship
z
disperses the economic power
and creates equality.

6. Entrepreneurship controls the wealth and

balances regional development.
7. Entrepreneurship reduces social conflicts and
political unrest.
8. Entrepreneurship elicits economic independence
and capital formation.
 ENTREPRENEUR
z
 z

Entrepreneur
 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
 the word “entrepreneur” has a French origin and
was coined from the words entre, which means
“between,” and prendre, which means “to take”
 z

Entrepreneur
 one who always searches for
changes, responds to it and exploits it
as an opportunity

- Peter Drucker
 z

Entrepreneur
 one who innovates, raises money, assembles
inputs, chooses managers and sets the
organization going with his ability to identify
them

- Vasant Desai
 FIVE LEVELS OF
z
ENTREPRENEURIAL
DEVELOPMENT
1. The self-employed.
z
 not comfortable with the routines of desk job
 do not want a fixed working schedule
 want to do things in their own way

2. The manager.
 need to step up and ask some help from the people around them
 delegate and hire potential employees to do the work

3. The leader.
 enjoy seeing your people flourish, stepping up and producing great
results with minimal supervision
 can sleep peacefully at night and have more freedom and time for
themselves
 recognized key leaders in their organization
 focus on the big picture and strategic direction of their business
rather than in generating sales and operating the business
4. The investor.
z
 look for more opportunities for their business to grow
 may either purchase one or two businesses that can potentially add
value to the company
 delegate a suitable manager for such operations and will act as
directors.

5. The true entrepreneur.

 aim for quality and excellence in their work
 fully learned, and continue to practice, a four-step process of
thinking
5.1. Idealization – dream enormously and desire to build an ideal environment
5.2. Visualization – start to create plan to make the dream a reality
5.3. Verbalization – involves sharing their ideas with other people
5.4. Materialization – happens when the vision becomes a reality
TECHNOPRENEUR
 is anz entrepreneur who puts technology at the core of
his or her business model

SOCIAL ENTREPRENEUR
 one who takes advantage of the country’s social
problems and turn them to profitable institutions with
the intention of helping the disadvantaged community
rather than making a profit
INTRAPRENEUR
 is anz entrepreneur of a large company or corporation
who is tasked to think, establish, and run a new big
idea or project

EXTRAPRENEUR
 one who hops from one company to another to act as
the innovation champion, providing creative and
efficient solutions
COMMON TRAITS
z
1. Proactive
 addressz
issues, problems, and challenges before they come rather
than when they already happened
 ensure that proper research is done
 risk factors are assessed
 plans are executed on a timely and most efficient way

2. Agents of change
 see opportunities in hopeless and complex situations
 improve and develop new products and services

3. Risk takers
 take into consideration the potential various threats they may
encounter
 calculate risks
4. Have a sharp eye for opportunities
 have az talent for recognizing an opportunity
 know how to assess the net cause and effect of an opportunity
 decide intelligently if a venture should be considered or not

5. Sociable
 establish the relationship with the most important assets of the
company
 relationship management is the key for employee and customer
retention

6. Networkers
 knows the key people to connect with
 gain trust of their valuable network and maintain a long-lasting
relationship with them
7. Decisive
 alwaysz have a decision about their business
 do not settle for gray areas or unclear solutions
 do not leave an issue unsolved
 base their decisions on scientific calculations backed up by their
experience and technical knowledge
8. Balanced
 minds have a balance between analytical and the creative side
 brains are always playing with “unique ideas”
 always have “Eureka!” moments

9. Innovative
 minds are rich of with big ideas that can add value to their existing
business or could become a game changer in the industry
 do not stop improving and thinking of new and worthwhile ideas for
their business
z
CORE TRAITS
1. Leaders
 z
must be a source of inspiration for their employees
 must be very humble, approachable, friendly
 know how to listen to people’s concerns
 use strengths and limitations to make the best of a situation
 must be decisive and know how to unite the team and bring out the
best in every employee

2. Communicators
 know how to use all forms of communication to effectively share
ideas and address certain concerns with their customers and
employees
 always be open to ensure the smooth flow of operations in their
business
3. Specialists
 z
experts in their chosen business
 asked about the specifics of their product or service
 can easily answer without heavily relying on their people
 Understand the totality and specificity of their business
 can easily think of innovating and improving the product or service
 enjoy being in action instead of being behind the scenes

4. Problem solvers
 possess critical thinking skills and look at problems as challenges or
puzzles that they need to solve
 know how to handle issues in any area of the business
 able to solve problems by immersing themselves in day-to-day
activities
 be aware of their employees’ personalities
 must have faith that every problem has a solution
 courageous and know how to face the consequences of decisions
ENTREPRENEURSHIP
OR EMPLOYMENT?
z
 PROS AND CONS OF ENTREPRENEURSHIP VS. EMPLOYMENT
IMPORTANT CAREER ENTREPRENEUR EMPLOYEE
FACTORS z

1. Income  Income generated passively even when • Income generated actively (i.e., on
the entrepreneur is resting working hours only); no work = no pay
 Opportunity income unlimited, depending • Income usually fixed income per month
on the success of the business and increases every year depending on
 Income only earned when the business is the employer and employee’s
successful performance
• Income earned whether the business is
successful or not
2. Hiring and Firing,  Provides jobs; owner of the business and • Seeks for a job; is the one applying for
Organizational Setup, conducts the talent selection a job and is interviewed by the
and Major Key Results  Fully responsible in serving customers, company’s hiring officers
Area making the business • Has the goal of satisfying only the
profitable/sustainable, and providing employer or the direct supervisor
employee satisfaction • Fully dependent on the employer’s
 Has the power to disengage performance; is at risk of losing job if
nonperforming employees applying the the company does not perform well;
due process of disengaging personnel may find it difficult to just leave their
 Can venture into expansion of business below par employer if this is their only
such as franchising and buying other source of income
similar businesses • Can only work for the current employer
exclusively
 PROS AND CONS OF ENTREPRENEURSHIP VS. EMPLOYMENT
IMPORTANT CAREER ENTREPRENEUR EMPLOYEE
FACTORS z

3. Daily Tasks  Performs all necessary variable tasks to • Has routine tasks and works on regular
establish and manage a startup business, or normal hours
which usually takes most of the • Follows policies, procedures, and
entrepreneur’s time; spend more hours on memoranda from the employer
work than a regular employee and
sometimes gets no sleep
 Prepare policies, procedures, and
memoranda for the business
4. Leisure Time  Has a flexible schedule and can take • Has a limited number of vacation days
unlimited number of vacation days imposed by the employer
(applicable only if the business has
stabilized already)
5. Taxation  Taxed on the net income; can claim • Taxed on the gross income
taxable income deductions for allowable
expenses incurred by the business
6. Comfort Level at Work  Is comfortable in doing multiple and • May be comfortable with routines and
challenging tasks and takes accountability minimal risks, may also be comfortable
with the risks and profits of the business; in working for the company itself
does not want to be confined in a box;
thinks outside the box
 Careers in
Entrepreneurship
through Common
z

Small Businesses
in the Philippines
1. Sari-sari store
z
 more than one million sari-sari store in the Philippines
 one of the easiest businesses to set up due to minimal capital

2. Rice retailing
 according to infographic presented by Rappler (2012), Filipinos
spend 20% or 20 centavos per every peso for rice
 an average Filipino consumed an average of 92 kilograms of rice
from the 1980s to 1990s, 111 kgs from 2008 to 2009, and 119 kgs
from 2009 to 2010

3. Food cart business

 present in every populous location
 located inside or outside the malls, schools, parks, train stations,
and offices
4. Printing business
 usuallyz located near schools and offices

5. Buy and sell business

 everyone can technically be a seller even without an actual business

6. Street food business

 located in streets, selling almost the same food products being sold
by the food cart business

7. Flea market business or tiangge

 set up a small space and sell any type of goods in a palengke setup
that is normally in an open space
 customers are more interested to buy from these flea markets
because they can bargain for the price
 8. Online selling business
z
 deals with adding the internet as a marketing and transaction
channel for business

9. Cellphone loading business

 more than 95% of Filipinos are prepaid mobile phone users
 80% of Filipino households have access to mobile phones

10. Laudry and dry cleaning business

 often located at central business districts and areas with several
condominiums and townhouses.

11. Hair styling and make up business

 includes parlor and barber shops
12. Spa, gym, nail care business
z
 offers a range of massage treatments that can relax the stressed
areas of the body
 Filipinos are now health-conscious
 manicure and pedicure

13. Video and photography business

 requires talent in capturing precious moments of celebrators in
weddings, birthdays, anniversaries, graduations and other important
events

14. Tutorial business

 caters students who are not able to catch up with their lessons, or
those who just want to be ahead in class
 composed of experts in a particular field
15. Baking business
z
 pan de sal is the most common bread being offered by this business

16. Website development and design/blogging

 the Website developer conceptualizes and implements a website for
another business whose objective is to inform, persuade and remind
its customers
 become a source of income by most online writers
 a blog may become famous or successful if the site has a number of
followers or readers
 people may earn cash by allowing companies to place ads on their
blog
17. Direct selling business
 it is a face-to-face selling of products by a sales agent
 Products include fashion accessories, health and wellness items,
clothing, food supplements, and homecare items
18. Car wash and car care business
z
 demand of car care increases every year

19. Bar, café, and restaurant

 number of foodies (food enthusiasts) has increased
 Filpino consumers’ demand for variety and quality taste has evolved
as well

20. Water station and LPG (liquified petroleum

gas) station
 continuously serve households
 use for daily consumption
 z

No successful business started huge right

away. A business starts with an idea. Once the
business is established, the business owner, the
entrepreneur, can choose to expand and explore
franchising, intrapreneurship (managing a
startup business in an established business) and
acquisition (buying another similar business or
a new business).
 Careers in
Entrepreneurship
z
Professional
• Small
z Business Owners and Franchise
Managers.
• New Venture Developers.
• E-Commerce Entrepreneurs.
• Sales Managers, Marketing Managers and Sales
Representatives.
• "Work at Home" Business Owners or “One-
Person Firms”
• Business Consultants.
• Commercial Bankers.
• Business
z Manager. ...
• Chief Executive Officer. ...
• Financial Manager. ...
• Public Relations Manager. ...
• Sales. ...
• Managing Director. ...
• Business Consultant.
 z
ASSIGNMENT

IN YOUR OWN NOTEBOOK

 LIST DOWN 5 PROBLEMS THAT YOU HAVE SEEN IN
YOUR COMMUNITY OR IN SCHOOL.
 ( READY FOR NEXTWEEK ACTIVITY)

 BRING 4 MANILA PAPER AND 4 MARKER PER

SECTION.