NSTP: CWTS

• Entrepreneur


  Someone who undertakes the risk of enterprise
• Entrepreneurship


  The process of creating an enterprise by an entrepreneur
• Entrepreneurs


  • Innovators
  • Willing to take risks
  • Generate new ideas
  • Create unique and profitable solutions to problems
• Factors Affecting Entrepreneurship


  • Personality factors
  • Environmental factors
• Personality Factors


  • Initiative
  • Proactive
  • Problem solver
  • Perseverance
  • Persuasion
  • Planner
  • Risk-taker
• Environmental Factors


  • Political
  • Climate
  • Legal system
  • Economic conditions
  • Social conditions
  • Market situations
• Common Competencies in Entrepreneurship

  • Decisive
  • Communicator
  • Leader
  • Opportunity seeker
  • Proactive
  • Risk taker
  • Innovative
• Core Competencies in Entrepreneurship

  • Economic and dynamic activity
  • Innovative
  • Profit potential
  • Risk bearing
• Types of Entrepreneurs


  • Innovative
  • Imitating
  • Fabian
  • Drone
  • Social
• Career Opportunities of Entrepreneurship

  • Business consultant
  • Teacher
  • Researcher
  • Sales
  • Business reporter
• Entrepreneurs are people who take the risk, they are innovators and contributors to the development of the economy
• The creation of an entrepreneurial ideas leads to the identification of entrepreneurial opportunities, which in turn results in the opening of an entrepreneurial venture
• Essentials in Entrepreneur's Opportunity Seeking

  • Entrepreneurial mind frame - Allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation, being a risk-taker, can find solution when problems arise
  • Entrepreneurial heart flame - Entrepreneur's driven passion, attracted to discover satisfaction in the act and process of discovery, passion is the great desire of an entrepreneur to achieve his/her goals
  • Entrepreneurial gut game - Refers to the ability of the entrepreneur of being intuitive, also known as intuition, confidence in one's self and the firm believes that everything you aspire can be reached
• Sources of Opportunities


  • Changes in the environment
  • Technological discovery and advancement
  • Interest and hobbies of the people
  • Industry environment of the business
• Physical environment


  Includes climate, natural resources, and wildlife
• Societal environment


  Includes political forces, economic forces, social forces, and technological forces
• Industry environment


  Includes the competitive forces, the industry life cycle, and the industry trends
• Entrepreneurial ideas arise when changes happen in the external environment
• A person with an entrepreneurial drive views these changes positively
• External environment refers to the physical environment, societal environment, and industry environment where the business operates
• Opportunity seeking


  Process of considering, evaluating, and pursuing market-based activities that are believed to be advantageous for the firm
• Entrepreneurial mind frame


  Allows the entrepreneur to see things in a positive and optimistic light in the midst of crisis or difficult situations
• Entrepreneurial gut game


  Ability of entrepreneur that can sense without using the five senses, also known as intuition
• Entrepreneurial heart flame


  Driven passion of an individual
• One of the essentials of entrepreneur's opportunity seeking that refers to the driven passion of an individual
• Opportunity seeking


  Pursuing market-based activities that are believed to be advantageous for the firm
• Opportunity screening


  Essential to opportunity seeking which allows the entrepreneur to see things in a positive and optimistic light in the midst of crisis or difficult situations
• Opportunity seizing


  The ability of entrepreneur that can sense without using the five senses, also known as intuition
• Sources of opportunity


  Refers to the driven passion of an individual
• Entrepreneurial gut game


  The ability of entrepreneur that can sense without using the five senses, also known as intuition
• Entrepreneurial heart flame


  Refers to the driven passion of an individual
• Economic forces


  Includes income level and employment rate
• Factors of substitute product that pose a great threat

  • Preferences and tastes of the customers easily change
  • Product differentiation is highly noticeable
• Factors that influenced the buyer to have less threats due to bargaining power

  • Preferences and tastes of the customers easily change
  • The cost of switching the supplier cost is minimal
• Buyers


  They are the one that pays cash in exchange to your goods and services
• Factors characterizing the intensity of rivalry among existing firms

  • Diversity of rivals
  • Number of competing firms
  • Characteristics of the products or services
• Forces competing within the industry


  • Potential new entrants
  • Substitute Products
  • Buyers
  • Suppliers
  • Rivalry among existing firms
• Good sources of entrepreneurial ideas

  • Changes in the environment
  • Technological discovery
  • People's interest
  • Past experiences
• Components of societal environment

  • Economic forces
  • Sociocultural forces
  • Political forces
• Identifying entrepreneurial opportunities


  Results in the opening of entrepreneurial venture