Lesson 1

• 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, and assessing its risks and rewards through close monitoring of the operations
• Societal and Economic Benefits of Entrepreneurship

  • Produces more jobs that equate to an increase in national income
  • Amplifies economic activities of different sectors of society
  • Introduces new and innovative products and services
  • Improves people’s living standards
  • Disperses the economic power and creates equality
  • Controls the local wealth and balances regional development
  • Reduces social conflicts and political unrest
  • Elicits economic independence and capital formation
• Entrepreneur


  An 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

  • Self Employed
  • The Manager
  • The Leader
  • The Investor
  • The True Entrepreneur
• Four Process of Thinking

  • Idealization
  • Visualization
  • Verbalization
  • Materialization
• Entrepreneur's Field of Expertise

  • Technopreneur
  • Social Entrepreneur
  • Intrapreneur
  • Extrapreneur
• Common and Core Competencies of Entrepreneur

  • Common Traits of an Entrepreneur: Proactive, Agents of Change, Risk Takers, Have a Sharp Eye for Opportunities, Sociable Networkers, Decisive, Balanced, Innovative
  • Core Traits of an Entrepreneur: Leaders, Communicators, Specialists, Problem Solver
• Important Career Factors


  • Entrepreneur: Income generated passively, Opportunity income unlimited
  • Employee: Income only earned when the business is successful, Income generated actively, Income usually fixed per month
• Important Career Factors


  • Income
  • Hiring and Firing, Organizational Setup, and Major Key Result Areas
  • Daily Task
  • Leisure Time and Vacations
  • Taxation
  • Comfort level at work
• Entrepreneur vs Employee


  • Income
  • Hiring and Firing, Organizational Setup, and Major Key Result Areas
  • Daily Task
  • Leisure Time and Vacations
  • Taxation
  • Comfort level at work
• Income


  • Income generated passively
  • Opportunity income unlimited
  • Income only earned when the business is successful
  • Income generated actively
  • Income usually fixed per month
  • Income earned whether the business is successful or unsuccessful
• Hiring and Firing, Organizational Setup, and Major Key Result Areas


  • Provides job
  • Fully responsible for serving customers
  • Has the power to disengage nonperforming employees
  • Can venture into expansion of business
  • Seeks for a job
  • Has the goal of satisfying only the employer
  • Fully dependent on the employer’s performance
  • Can only work for the current employer exclusively
• Daily Task


  • Performs all necessary variable tasks
  • Prepares policies, procedures, and memoranda for the business
  • Has routine tasks
  • Follows policies, procedures, and memoranda from the employer
• Leisure Time and Vacations

  • Has a flexible schedule and can take unlimited number of vacation days
  • Has a limited number of vacation days imposed by the employer
• Taxation


  • Taxed on the Net Income
  • Taxed on the Gross Income
• Comfort level at work


  • Is comfortable in doing multiple and challenging tasks and takes accountability with the risks and profits of the business
  • May be comfortable with routines and minimal risks; may also be comfortable in working for the company itself
• Careers in Entrepreneurship


  • Small Businesses in the Philippines
  • Sari-Sari Store
  • Rice Retailing
  • Food Cart Business
  • Printing Business
  • Buy-and-Sell Business
  • Street Food Business
  • Flea Market or Tiange Business
  • Online Selling Business
  • Cellphone Loading Business
  • Laundry and Dry Cleaning Business
  • Hair Styling and Make-up
  • Spa, Gym, and Nail Care
  • Video and Photography
  • Tutorial
  • Baking Business
  • Web Site Development and Design
  • Direct Selling Business
  • Car Wash and Car Care Business
  • Bar, Café, and Restaurant
  • Water Station and LPG Station
• QUESTIONS?