ENTREP

• Entrepreneurship


  The word "entrepreneur" came from the French word "entreprendre" which means "to undertake"
• Modern definition of entrepreneurship

  Creating, organizing, and operating a new business venture to generate profit while taking on financial risk
• Who are the Entrepreneurs

  • People who take on the risks and challenges of starting new businesses
  • Introduce new goods, services, or concepts to the market to make a profit
  • Think of ideas to captivate a particular market's interest
• Owning a business offers numerous advantages, such as the ability to work flexible hours, make independent decisions, be free from obligation to others, and have complete autonomy and power
• To be a successful entrepreneur, besides having a good idea and good reasons, it is essential to be curious about new knowledge and have the desire to explore the unknown
• An entrepreneur must understand that a journey laden with risk, hard work, sacrifices, and setbacks lies ahead
• 5 Most Essential Roles of Entrepreneurship in Society

  • Employment Creation
  • Economic Development
  • Technological Advancement
  • Market Dynamics
  • Socio-Cultural Changes
• Agripreneurship


  Deals with the production and selling of various agricultural goods and inputs
• Agripreneurship


  • Crop cultivation, production and processing, aquaculture, animal health and feeds, agro-bio products, biotechnical service, energy-saving, and ecological agro-production systems
• Agripreneur


  • Edita Aguinaldo Dacuycuy - 73-year-old multi-awarded farmer-scientist and innovator from the Ilocos Region who established the initial organic dragon fruit farm in Northern Philippines
• Buyer Entrepreneurship


  Involves business individuals who possess substantial capital and utilize it to acquire established companies or merge with smaller businesses
• Buyer Entrepreneur


  • Tony Tan Caktiong - Acquired successful brands such as Greenwich pizza chain, Chowking Chinese Fast food chain, Red Ribbon Bakeshop, and MangInasal grilled chicken
• Ecopreneurship


  Involves people who want to create a "green" business
• Ecopreneur


  • Jamico Yco Jamlang - Licensed Chemical Engineer and founding director of an online business—The Bamboo Company, a social enterprise that aims to solve global issues by promoting and enhancing bamboo production
• Imitator Entrepreneurship


  Creates a business by copying or adapting an existing business concept or a successful product or service in the market
• Imitator Entrepreneur


  • Bin Lin - Co-founder and vice president of Xiaomi, a company that copied Apple's iPhone design and used Google's Android system
• Intrapreneurship


  The act of being an entrepreneur within a company or organization
• Intrapreneur


  • Paul Buchheit - Joined Google as its 23rd employee and developed the G-mail project with the support of the founders
• Large Business Entrepreneurship


  Involves taking calculated risks to develop new market offerings to remain competitive and better respond to changing markets and customer needs
• Large Business Entrepreneur


  • Ernest Cua - Owner of Globe Telecom, a giant telecommunications company in the Philippines that is leveraging its trusted brand, customer accounts, and network to deliver financial services
• Scalable Startup Entrepreneurship

  Involves launching a small-scale enterprise intending to quickly expand and transform into a highly lucrative company
• Scalable Startup Entrepreneur


  • Roland Navarro de Ros - Founder and President of Kumu, the most prominent social entertainment app in the Philippines
• Small Business Entrepreneurship


  Involves starting a business on a smaller scale rather than expanding it into a large corporation or opening multiple branches
• Small Business Entrepreneur


  • Nericel Bonus - A micropreneur who found major success by doing a live selling of thrift clothes, also known as "Ukay-ukay" during the Covid-19 pandemic
• Social Entrepreneurship


  Focuses on innovating and creating novel solutions to address pressing social issues
• Social Entrepreneur


  • Bryan Benitez Mcclelland - Environmental Consultant at GawadKalinga and President of Bambike, a company that manufactures handmade bamboo bicycles
• Technopreneurship


  Solves complex business problems and brings uniqueness and novelty to the business process by combining entrepreneurial skills and technology
• Technopreneur


  • Diosdado Banatao - Developed the first 10-Mbit Ethernet CMOS with silicone coupler data-link control and transceiver chip, the first system logic chipset for IBM's PC-XT and the PC-AT, and the local bus concept and the first Windows Graphics accelerator chip for PCs
• Types of Enterprise by Capital Requirement

  • Micro - Less than P50,000
  • Cottage - P50,001 to P500,000
  • Small - P500,001 to P5,000,000
  • Medium - P5,000,001 to P20,000,000
• SMMEs are any business activity or enterprise engaged in industry, agribusiness, and services, whether single proprietorship, cooperative, partnership, or corporation, whose total assets are inclusive of those arising from a loan but exclusive of the land on which the business is situated
• Forms of Business Ownership


  • Sole proprietorship
  • Partnership
  • Corporation
  • Cooperative
• Core Competencies that Entrepreneurs Need

  • Leadership
  • Articulate
  • Sociable
  • Adaptable
  • Collaborative
  • Multifaceted
  • Resilient
  • Proactive
  • Innovative
  • Risk-taker
  • Creative
  • Passion
• Extrinsic Motivation


  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
• Categories of Intrinsic Motivation

  • Achievement motive
  • Power motive
  • Affiliation motive