ENTREPRENEUR

• Entrepreneurship is the science of converting processed ideas into a remarkable business venture
• An entrepreneur is a person who creates unique ideas that will be useful for starting a business
• Entrepreneurship develops skills needed to start up a business, enhances knowledge on business operations, and demonstrates how to manage a business
• Entrepreneurship changes learners' attitudes towards the course as a means of living and in personal and career attitudes such as communication, problem-solving, collaboration, motivation, creativity, and teamwork
• Importance of Entrepreneurship Education:

  • Key economic driver
  • Increases the level of knowledge, competence, and improves the quality of life
  • Provides an alternative career path
• Competencies are the capability, capacity, and ability of the learner in handling situations in various areas of business operations like marketing, management, production, and finance
• Common entrepreneurial competencies include:

  • Specific Goal Setting
  • Self-Efficacy
  • Need for Achievement
  • Ambition
  • Willingness to Learn
  • Adaptability and Flexibility
  • Willingness to Take Risk
  • Interpersonal Skills
• Competencies for Entrepreneurial Success:

  • Integrity: knowing what is good and right, doing what is best for everyone, and not acting without thinking
  • Conceptual Thinking: reviewing outcome projects to understand where problems occurred and checking the impact of proposed solutions
  • Strategic Thinking: finding ways to do things faster or at lower costs
  • Decisiveness: switching to an alternative strategy to reach a goal, generating new ideas and innovative solutions
  • Customer Relations Service: knowing customer needs to satisfy them and build long-term relationships
• Entrepreneurial competencies for success include risk-taking, collaboration, commercial aptitude, optimism, and being people-centered
• An entrepreneur starts a business from their own unique idea, while a businessman starts with an existing idea or concept