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    ENT PS Unit1 Lesson2 Final

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    Maricel Berana
    This document discusses core competencies for entrepreneurship. It begins by defining core competencies as the defining characteristics that allow a business or individual to stand out from competition. It then lists some general conditions for core competencies: they must provide superior value, be difficult to replicate, and be rare. The document outlines several core competencies for entrepreneurs, including being goal-driven and starting small then growing big. It also discusses using SWOT analysis and gives an example of a small business owner evaluating their milk tea shop's strengths, weaknesses, opportunities, and threats. Finally, it emphasizes that developing core competencies is important for businesses to differentiate themselves.

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    © All Rights Reserved
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    ENT PS Unit1 Lesson2 Final

    Uploaded by

    Maricel Berana
    122 views27 pages
    This document discusses core competencies for entrepreneurship. It begins by defining core competencies as the defining characteristics that allow a business or individual to stand out from competition. It then lists some general conditions for core competencies: they must provide superior value, be difficult to replicate, and be rare. The document outlines several core competencies for entrepreneurs, including being goal-driven and starting small then growing big. It also discusses using SWOT analysis and gives an example of a small business owner evaluating their milk tea shop's strengths, weaknesses, opportunities, and threats. Finally, it emphasizes that developing core competencies is important for businesses to differentiate themselves.

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    ENT_PS_Unit1_Lesson2_Final

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    This document discusses core competencies for entrepreneurship. It begins by defining core competencies as the defining characteristics that allow a business or individual to stand out from competition. It then lists some general conditions for core competencies: they must provide superior value, be difficult to replicate, and be rare. The document outlines several core competencies for entrepreneurs, including being goal-driven and starting small then growing big. It also discusses using SWOT analysis and gives an example of a small business owner evaluating their milk tea shop's strengths, weaknesses, opportunities, and threats. Finally, it emphasizes that developing core competencies is important for businesses to differentiate themselves.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    122 views27 pages

    ENT PS Unit1 Lesson2 Final

    Uploaded by

    Maricel Berana
    This document discusses core competencies for entrepreneurship. It begins by defining core competencies as the defining characteristics that allow a business or individual to stand out from competition. It then lists some general conditions for core competencies: they must provide superior value, be difficult to replicate, and be rare. The document outlines several core competencies for entrepreneurs, including being goal-driven and starting small then growing big. It also discusses using SWOT analysis and gives an example of a small business owner evaluating their milk tea shop's strengths, weaknesses, opportunities, and threats. Finally, it emphasizes that developing core competencies is important for businesses to differentiate themselves.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 27

    Unit 1: Understanding the Concept of Entrepreneurship

    Lesson 2
    Core Competencies in
    Entrepreneurship

    Entrepreneurship
    Senior High School Applied - Academic
    What should be the
    characteristics of
    entrepreneurs in order
    to sustain the
    profitability of their
    business?

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 2
    Learning
    Objective
    Explain the core competencies in
    At the end of the entrepreneurship.
    lesson, you should be
    able to do the
    following:

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 33
    Core Competencies

    defining characteristics
    that make a business or
    an individual stand out
    from the competition

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 4
    What is your favorite
    restaurant?

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 5
    Why do you
    like their
    products and
    services?

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 6
    Jollibee's Core
    Competence is it's
    unique product
    the emphasize local
    spices and local
    taste preference.
    Jollibee has the
    flexibility to cater to
    the taste of its local
    consumers and built
    Jollibee was able to attain a competitive advantage over reputation of
    McDonald's by doing two things: (1) Retaining tight control over friendliness, flavorful
    operations management, which allowed it to price below its food, fun atmosphere,
    competitor and (2) Having the flexibility to cater to the tastes and focus on family.
    of its local consumers.

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 77
    3 General Conditions in Core Competencies
    1. The activity must
    provide superior
    value or benefits to
    the consumer.
    2. It should be difficult
    for a competitor to
    replicate.
    3. It should be rare.

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 8
    A core
    competence is
    something
    unique that a
    business has or
    can do
    strategically well.

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 9
    Core Competencies of Entrepreneur

    1. Entrepreneur as a
    missionary
    2. Entrepreneurs are
    goal-driven

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 10
    Core Competencies of Entrepreneur

    3. Entrepreneur as a
    marketing man
    4. Entrepreneurs start
    small to big

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 11
    What are the factors that develop
    entrepreneurial activity?

    12
    Factors that Develop Entrepreneurial Activity

    Entrepreneur’s initiative

    Organization of capital resources

    Development of administrative machinery

    Development of entrepreneurial autonomy

    Development of SWOT analysis


    ENGAG EXPLOR EVALUAT
    EXPLAIN EXTEND 13
    Remember

    SWOT (Strengths, Weaknesses,


    Opportunities, and Threats) is a
    tool used in evaluating a business.
    Entrepreneurs should know how
    to analyze their business using
    this tool.
    14
    Example

    A young entrepreneur, who


    has a business offering
    milk tea, wants to evaluate
    his business in order to
    know the challenges
    encountered and identify
    new markets.

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 15
    15
    Examples
    Internal Elements Answers

    Strengths ● unique taste


    ● quality ingredients
    ● friendly staff

    Weaknesses ● low profits


    ● no business website
    ● less offerings than competitors
    ENGAG EXPLOR EVALUAT
    EXPLAIN EXTEND 16
    16
    Examples
    External Elements Answer

    Opportunities ● market boom


    ● expansion of branches
    ● can implement a loyalty program

    Threats ● rising cost of ingredients


    ● negative reviews
    ● increasing number of competitors
    ENGAG EXPLOR EVALUAT
    EXPLAIN EXTEND 17
    17
    ENGAG EXPLOR EVALUAT
    EXPLAIN EXTEND 18
    18
    The Making of a Filipino Entrepreneur

    Most Filipinos start a


    business when they see
    that other businesses
    are profitable.

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 19
    19
    Remember

    All growth starts from the


    beginning. The same applies to
    the world of business. There are a
    lot of entrepreneurs who start
    their business from a small
    enterprise into a big company.
    20
    Activity

    “A journey of a thousand miles begins with a


    single step”. Explain your point of view on the
    saying.

    Answer the questionnaire in the Extend part of


    the study guide.
    ENGAG EXPLOR EVALUAT
    EXPLAIN EXTEND 21
    Questions

    Part A. Explain the meaning of the following statements.


    1. Entrepreneur as a missionary.
    2. Entrepreneur as a marketing man.
    3. Entrepreneurs are goal-driven.
    4. Entrepreneurs start from small to big.
    5. Entrepreneur is excellent in obtaining resources.
    ENGAG EXPLOR EVALUAT
    EXPLAIN EXTEND 22
    Questions
    Part B.
    1. Why do core competencies matter to every business
    and entrepreneur?
    2. How do entrepreneurs determine the core
    competency of their business?
    3. Why are entrepreneurial competencies considered as
    entrepreneurial distinctive?

    ENGAG EXPLOR EVALUAT


    EXPLAIN EXTEND 23
    Wrap Up

    Core Competencies are the defining


    characteristics that make a business or an
    individual stand out from the competition.

    A core competence is something unique that a


    business has or can do strategically well.

    24
    Wrap Up

    An entrepreneur must be equipped with the


    following core competencies so that his planned
    business will really stand out among other
    competitors.

    25
    Wrap Up

    26
    Bibliography

    “Are you an entrepreneurial missionary or mercenary?” Edology. Accessed from March 8,


    2020. https://www.edology.com/blog/business/entrepreneur-missionary-or-mercenary/.

    “Eight successful Filipino entrepreneurs who started small.” Business Inquirer. Accessed
    from March 8, 2020.
    https://business.inquirer.net/273445/eight-successful-filipino-entrepreneurs-who-started-s
    mall
    .

    Kotler, Philip & Gordon McDougall. Marketing Essentials. Prentice-Hall Canada Inc., 1985.

    Peters, Michael & Robert Hisrich. Entrepreneurship 4th Edition. McGraw-Hill Book Co., 1999.

    27

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