entrep 1

• The word “entrepreneur” came from the French word entreprendre
•  “entreprendre,” which means to undertake
• Entrepreneurs are people who take on the risks and challenges of starting new businesses.
• SMME are any business activity or enterprise engaged in industry, agribusiness, and services, whether single proprietorship, cooperative, partnership, or corporation,
• Sole Proprietorship

  – it is initiated, organized, owned, and managed by a single person
• Partnership

  – two (2) or more partners who co-own a business to make a profit
• Corporation

  – exist in contemplation of law; the business has its own identity separate and distinct from stockholders
• Cooperative

  – a duly registered group of persons with a common interest to voluntarily join to achieve a lawful social and economic end.
• Extrinsic Motivation It is about motivating individuals to complete a task by offering rewards such as money, gifts, or treats
• Intrinsic Motivation People do the task at hand because they are passionate about the business. The following are the categories of intrinsic motivation
• ·Achievement motive Have a strong motivation to succeed, achieve greatness, and conquer any difficulties and hurdles in the quest for objectives.
• Power motive The desire for control, influence, and the ability to impact others and change circumstances
• • Affiliation motive The act of pursuing, upholding, or revitalizing an emotional connection with others.