Gen Ed Elective

• Entrepreneurship is the ability and readiness to develop, organize and run a business, along with any of its uncertainties in order to make a profit.
• Entrepreneurship plays a crucial role in driving economic growth society, and shaping our world
• Entrepreneur is an individual who organizes, manages, and assumes the risks of a business with the goal of generating economic value.
• Entrepreneurs are often seen as innovators, bringing new ideas, goods, and services to the market.
• The word “entrepreneur” originates from a thirteenth-century French term “entreprendre” , meaning “to do something” or “to undertake.”
• Entrepreneurs have the courage to take risk
• A great thinker in terms of innovation.
• According to Adam Hayes (2020) an entrepreneur is an individual who creates a new business and enjoying most of the rewards.
• Richard Cantillon (1959) identified the willingness to bear the personal financial risk of a business venture as the defining characteristic of an entrepreneur.
• Jean-Baptiste Say (1896) further popularized the academic usage of the word “entrepreneur.”
• Adam Smith (2007) guided by his own benefit. Pursuing his own interests, he serves the public interest best.
• Frank Knight believes that entrepreneurs are the ones who make decisions in uncertain situations that risk their business and hope that they make the right decision and be rewarded with a profit
• Manager is just an employee who works for salary and does not have to bear any risk.
• Alfred marshall (1842-1924) a member of the english school of thinking, one of the pioneers of neoclassical economics. For his research he distinguish the categories capitalist, entrepreneur, and manager
• Marshall defined capitalists as the people who trusted themselves to the capacity and honesty of others. They invest their money in entrepreneurs who need it to start or operate their businesses, hoping to make more money for them.
• The word "motivation" comes from the word "motive" , which refers to what causes someone to act in a certain way
• A person's objectives and desires are defined by their motives.
• It is the one most important duty of an entrepreneur – motivate people.
• Entrepreneurship is valued in the Philippines as a means of empowering the poor, increasing productivity, and stimulating innovation
• Entrepreneurship is recognized as a source of economic progress in the Philippine Constitution of 1987
• Article 7 Section 1 highlights the role of private enterprises in supporting the equitable distribution of income and wealth, sustaining production of goods and services, expanding productivity, therefore raising the quality of life
• A glimpse of the Philippines

  • The Philippines has a mountainous terrain
  • With over 30,000,000 hectares of land
  • Have 7,100 islands in the archipelago, with Luzon, Visayas, and Mindanao as the most significant regions
  • Has rich and diverse resources
  • Our land is fit for agricultural activities
  • Rice, corn, fruits, and vegetables grow best
  • Abaca, coconut, and sugarcane are products widely seen around the country
  • Essential minerals are mined like gold, silver, copper, nickel, bauxite, and carbon
  • The Philippines also has oil reserves in Palawan and the much-contested Sprat Islands
  • Dry and Typhoon season
  • Tagalog-Based language
  • With more than 100 dialects
  • Mostly Catholic Religion
• In the typical Filipino environment, entrepreneurship is not so much encourage at an early age
• The Philippines is abundant in marine resources

  • Fish
  • Corals
  • Marine vegetation
• Land use in the Philippines

  • 42% Forested
  • 8% Urban, water undeveloped
  • 15% Arable and uncultivated
  • 11% Arable and cultivated
  • 4% Plains and grasslands
• Filipino values

  • Pakikipagkapwa-tao
  • Pakikibagay
  • Pagmamalasakit
  • Pakikisama
  • Bayanihan
• Filipinos uphold the value of self-esteem and good public image


  • Amor-Propio
  • Delicate Mapahiya
• Filipino characteristics

  • Courageous (Bahala na, Ang makipagsapalaran sa Maynila)
  • Ability to withstand crisis
  • Natural strength of character and strong sense of faith in God
  • Extreme personalism
  • Extreme family-centeredness
  • Lack of discipline
  • Passivity and lack of initiative
  • Colonial mentality
  • Kanya-kanya syndrome
  • Lack of self-analysis and self-reflection
• Government agencies connected to doing business in the Philippines

  • Department of Trade and Industry (DTI)
  • The Department of Labor and Employment (DOLE)
  • Securities and Exchange Commission (SEC)
  • Philippine Social Security System (SSS)
  • Home Development Mutual Fund (HDMF)
  • Philippine Health Insurance Corporation (PhilHealth)
• Micro-small and medium sized enterprises (MSMEs)


  Employ less than 200 workers or those with an asset size of no more than 100 million
• Large enterprises


  Businesses having more than 100 million
• Small and medium-sized enterprises (SMEs) make 99.6% of registered businesses in the Philippines and employ over 70% of the working population
• Number of businesses in the Philippines

  • 820,795 micro businesses
  • 86,955 small businesses
  • 4,018 medium businesses
  • 911,768 total number of MSME in the Philippines
• The 2017 list of establishments of the Philippines Statistics Authority (PSA) recorded 924,721 business enterprises operating in the Philippines. Micro, small and medium enterprises (MSMEs) account for 99.56% (920,677) of the total establishments, of which 89.59% (828,436) were microenterprises, 9.56% (88,412) were small enterprises made up the remaining 0.44% (4,044)
• Current values and culture of the people have significant effects on business. They are among the factors that have to be considered by anyone who is putting up a business. These values and culture affect the buying decision
• Filipino values that affect business

  • Excellent human relations
  • Value of self-esteem and an excellent public image
  • Generally adventurous
  • Courageous
  • Ability to withstand the crisis
• The Philippines is creating incentives to entice foreign investors, opening opportunities, particularly in industrial and infrastructure development
• Business ideas in the Philippines

  • Palamig
  • Business from Home
  • Rental Shop for Costumes
  • The Loading of Cellphones Business
  • The Cake and Pastry Industry
  • Business of Bill Payment
  • Renting Outdoor Adventure Equipment
  • Buy and Sell Businesses on the Internet
  • Piso Wi-Fi Vending Machine
  • Business of Custom Invitations
  • Video Blogging / Vlogging
  • Gift Basket Business
  • Renting a Photo Booth
  • Food Cart Business
  • T-Shirt Printing Company
  • Business a Water Refilling Station
• • A wave of privatization and deregulation has added substantially to the investment attractions
• • Philippine financial markets, while still volatile, have been the most rewarding emerging securities markets, posting remarkable performances in recent years