ENTREP | 3RD QUARTER

• Entrepreneur

  A person who organizes, operates, and assumes the risk of business ventures, who strongly advocates and correctly practices the concepts and principles of entrepreneurship in operating and managing a business
• Entrepreneurship


  The practice or process of an entrepreneur
• Small Business


  Correctly adopts and practices the principles of entrepreneurship. Owned by one person with a limited workforce of not more than 20 persons
• Ordinary Business


  Pertains to business enterprise managed and operated by an owner who is not an advocate of and does not practice the concepts and principles of entrepreneurship
• Entrepreneurshipis an Art of Correct Practices


  • It is an art, not a science
  • It is dynamic and closely related to creativity
  • Entrepreneurs keep on searching for something new, finding ways to transform ideas into entrepreneurial opportunities
• Entrepreneurshipis a Wealth-creating Venture


  • It is operating within the concept of wealth creation rather than profit generation
  • Wealth is defined as the abundance of money, property, or possession
  • Abundance is the very essence of wealth in entrepreneurial endeavors
• Entrepreneurshipis Providing Value to Customers


  • It creates economic wealth by providing goods and services to consumers
  • Anything of no value to anybody is definitely a waste
  • Not to sell waste to consumers but only valuable goods, and services
• EntrepreneurshipEntails Opening and Managing Self-Owned Enterprise 


  • A business is considered self-owned when the person managing its daily activities is also its owner
  • Businesses that are being managed by others for the benefit of the owners do not fall within the sphere of entrepreneurship
  • Such businesses are operating under the concept of intrapreneurship
• Entrepreneurshipis a Risk-taking Venture


  • Risk is inherent in an entrepreneurial venture
  • Risk comes simultaneously with the venture
  • Risk cannot be detached from any entrepreneurial venture
  • The risk in entrepreneurship is called "Business Risk"
• Misconceptions of Entrepreneurship

  • Applies only to manufacturing businesses
  • Applies only to small businesses
  • Applies mostly to persons with good educational background business courses
  • Applies only to a good economy
  • Entrepreneurship is simply opening a small business
• Importance of Entrepreneurship to the Filipino People

  • It provides guidelines in their wealth-creating ventures
  • It helps improve their financial and social life
  • It helps broaden their creativity
• Importance of Entrepreneurship to the Local Community

  • It provides employment in the community
  • It creates new demand in the market
  • It makes substantial contributions to the raising and collection of taxes
  • It creates new business opportunities
  • It promotes a peaceful and loving community
  • It increases constructive competition
• Importance of Entrepreneurship to the Philippine Economy

  • It provides employment in the community
  • It creates new demand in the market
  • It makes substantial contributions to the raising and collection of taxes
  • It helps make their lives happy, fruitful, and successful
• Entrepreneurial Character Traits

  • Achievement Cluster
  • Planning Cluster
  • Power Cluster
• Achievement Cluster

  • Opportunity-seeker
  • Committed
  • Persistent
  • Risk-taker
  • Efficient and Quality-oriented
• Types of Risk-takers

  • Aggressive Risk-takers
  • Moderate Risk-takers
  • Conservative Risk-takers
• Planning Cluster

  • Goal-setter
  • Systematic planning & Monitoring
  • Information-seeker
• Systematic Planning and Monitoring

  • Systematic: rational and logical approach in performing the activities, step-by-step procedures that are scientifically designed to follow the preparation of plans and monitoring of activities
  • Planning: Setting of goals and objectives
  • Monitoring: Evaluation of the activities and adopted courses of action
• Goal-seeker Guided by the SMART Principle


  • S - Specific: Who, what, where, how?
  • M - Measurable: What do I want to see, feel, hear, once the goal has been reached?
  • A - Acceptable: What I don't want to see, experience. Can I do it by myself?
  • R - Realistic: Is it realistic and compliant with the rest of the agenda?
  • T - Timely: Deadline
• Power Cluster

  • Persuasive and Positive Networker
  • Self-confident
• Entrepreneurial Skills

  • Knowledge
  • Practice and Experience
  • Aptitude
• Cognitive Skills


  • Understand written materials
  • Learn and apply new information
  • Solve problems systematically
  • Create new ideas
  • Innovate new products and procedures
• Problem-Solving Skills


  • Defining the real problem
  • Gathering information about the problem
  • Formulating alternative solutions
  • Evaluating alternative solutions
  • Selecting and implementing solutions
  • Evaluating the decision
• Technical Skills

  • Information technology
  • Feasibility study and business plan preparation
  • Technical writing skills
  • Marketing
  • Management finance
• Intrapersonal Skills

  • Verbal Communication
  • Non-verbal Communication
  • Listening
  • Leading
  • Negotiating
• The Physical Environment


  • Climate
  • Physical Resources
  • Wildlife
• Environmental Scanning


  Changes in the physical environment have an impact on the societal environment in terms of resource availability and costs, and later, on the industry environment in terms of the growth or decline of particular industries
• Economic Forces


  • Interest Rates
  • Inflation Rates
  • Fiscal Policies
  • Monetary Policies
  • Income
  • Exchange Rate
  • Employment
  • Consumer Confidence
• Cultural Forces


  • Religion
  • Language
  • Beliefs
  • Customs
  • Education
• Social Forces


  • Values
  • Traditions
  • Literacy Level
  • Consumer Psychology
  • Time Orientation
  • Lifestyle Patterns
  • Professional Career Roles
• Political Forces


  • Trade regulations
  • Taxation
  • Government Stability
  • Unemployment
  • Worker's Benefits
  • Election Practices
• Legal Forces


  • Product control, pricing, and labeling
  • Healthy and Safety of the workers
  • Administration of Election process
  • Advertising and Promotion
  • Exercise of Profession
  • Education Administration and fees
• Technological Forces


  • Internet
  • Social Media
  • E-commerce
  • Technological Advancement
  • Technological Infrastructure
• Environmental Scanning


  Gathering critical evaluation, and utilization of information on events and activities and their relationships with physical, societal, and industry environments
• The Goal We Want to Do


  • It clearly portrays the trends, activities, and developments happening in every environmental layer including the interrelated relationships between the various forces in the environment
  • It identifies the expected threats and opportunities existing in the environment
  • It points out the possible factors that will determine the success of the entrepreneurial venture
  • It helps define the future path of the business
  • It assists in the formulation of the most appropriate entrepreneurial strategies
• Societal Environment Scanning Approach

  • The different layers of the external environment of microenvironment (e.g., physical, societal, and industry) and all the forces comprising each environmental layer are interrelated
  • In scanning the societal environment, the entrepreneur may use the following analytical approaches: PESTEL analysis, Environment Forces Matrix
• McDonald's Case Study (PESTLE Analysis)
• Political

  • Political Instability
  • Trading Agreements
• Economic


  • Increase in Production Cost
  • Low supply of raw materials
• Social


  • Preference for homemade food
  • Lockdown across the globe at different periods