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Lesson 26: Entrepreneurship

An entrepreneur is someone who organizes, manages, and assumes the risk of a business or enterprise. To be a successful entrepreneur, one must have skills in areas like administration, leadership, planning, communication, decision-making, and negotiation. Additionally, successful entrepreneurs display traits like being aggressive, flexible, self-confident, customer-oriented, determined, efficient, and visionary. Entrepreneurship involves innovation and expansion into new markets, products, and techniques. It also involves business and government support of social needs like education, health, and housing through social entrepreneurship.

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521 views9 pages

Lesson 26: Entrepreneurship

An entrepreneur is someone who organizes, manages, and assumes the risk of a business or enterprise. To be a successful entrepreneur, one must have skills in areas like administration, leadership, planning, communication, decision-making, and negotiation. Additionally, successful entrepreneurs display traits like being aggressive, flexible, self-confident, customer-oriented, determined, efficient, and visionary. Entrepreneurship involves innovation and expansion into new markets, products, and techniques. It also involves business and government support of social needs like education, health, and housing through social entrepreneurship.

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Lesson 26

Entrepreneurship
Entrepreneur
• one who organizes, manages and assumes the risk of a
business/enterprise or community business
• Dynamic leader who are creative, innovative, versatile,
flexible and receptive to the changes in their dealing with the
environment.

If you’re an entrepreneur, you must be:


a. a good administrator
b. a good leader
c. a good planner
d. a good negotiator
e. a good communicator
f. a good negotiator
g. a good decision maker
h. a good follower
An entrepreneur is also:

• Aggressive • Flexible
• Industrious • Self-Confident
• Competitive • Happy
• Innovative • Self-Motivated
• Customer-Oriented • Hardworking
• Optimistic • Self-Reliant
• Determined • Healthy
• Patient • Tactful
• Discipline • Helpful
• Productive • Tenacious
• Efficient • Humble
• Reputable • Versatile
• Enthusiastic • Trustworthy
• Resilient • Thrifty
• Energetic • Visionary
• Resourceful
Entrepreneurship
• the capacity for innovation, investment and expansion in new
market, products and techniques
• It must have strong values to accomplish what society needs that
a value-driven innovator who enhances society should be an
equally important as the entrepreneur who enhances economic
growth.

Social Entrepreneurship
• involvement or support of business and government in
education, health, security, housing, as well as myriad of other
social needs.
Social Entrepreneurs
• Hunters-gatherers of our culture
Stages of Community-Based Enterprises Growth
( Revita-Arriola et.al 1996)

1. First stage – Augmenting income and setting the


stage for enterprise creation

2. Second Stage – Promoting the growth of


community based-enterprise

3. Final stage – Mainstreaming of community based


enterprises
R.A. 6977 (Magna Carta for Small Enterprises)
• an Act to promote, develop, and assist small and medium enterprises
through the creation of a Small and Medium Enterprise Development
Council and establishment of a Small Business Guarantee and Finance
Corporation, the mandatory allocation of credit resources to small
enterprises and the rationalization of government assistance program and
agencies concerned of the development of SMEs.

Small-Medium Enterprises Skill Training Program


• provides a continuing training of would-be small and medium business
entrepreneurs to improve and develop the production processes and conduct
forum for exchange of experience among small and medium entrepreneur
with expert and consultants from private and government agencies.
For SME Skill Training Programs:
• Food Processing
• Meat and Fish Processing
• Wine and Vinegar Processing
• Skill upgrading on: Knitting, leather craft, shell craft, coco
midrib, etc.
• Bamboo Furniture and Craft
• Poultry Raising
• Speed Sewing
• Salt Making
• Basic Carpentry Training
• Basketry
• Embroidery
• Stuffed Toy Training
• Candle Making
For the SME Management Training Programs

• Simplified Bookkeeping
• Financial Management
• Business Management
• Marketing Management
• Production Management
• Strategic Marketing
• Product Costing and Pricing
• Basic Exporting
• Symposium on Livelihood Projects
• Starting a Small Business
• Value Formation Seminar
• Team Building
• Leadership Training Programs
• Advertising and Promotion
• Entrepreneurship Development Seminar
Determinants of Successful Entrepreneurship
(Feliciano R. Fajardo, 1994)

• Ability to conceptualize and plan


• Ability to manage others
• Ability to manage time and to learn
• Ability to adopt to change

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