ENTREP U1-L1

• Entrepreneur


  A person who creates unique ideas that will be useful for a starting business
• Entrepreneurship


  The science of converting processed ideas into a remarkable business venture
• A businessman starts the business with an existing idea or concept, while an entrepreneur starts the business from his or her own idea or concept
• Why study entrepreneurship?


  • It will increase an individual's entrepreneurial interest
  • It will help to discover innovators who also have the competence and edge of becoming entrepreneurs
  • It will help the learners analyze creative and attainable ideas
  • The learners will be able to write a business plan
• Usefulness of the course to the students

  • It develops skills that will be needed for starting up a business
  • It enhances knowledge on how to operate business
  • It demonstrates how to manage a business
  • Learners may consider becoming an employer rather than an employee
  • Learners change their attitude towards the course as a means of living
  • Learners change in personal and career attitudes such as communication, problem-solving skills, collaboration, motivation, creativity, and teamwork
• Importance of entrepreneurship education

  • Entrepreneurship serves as a key economic driver. It focuses on wealth creation, and through small businesses started by entrepreneurial-minded individuals, it will also create jobs for the people
  • Entrepreneurial education is an individual lifelong process. It helps increase the level of knowledge and competence and improve the quality of life
  • Entrepreneurship education benefits every student by giving an alternative career path at any time of his or her life
• Common entrepreneurial competencies


  • Specific Goal Setting
  • Self-Efficacy
  • Need for Achievement
  • Ambition
  • Willingness to Learn
  • Adaptability and Flexibility
  • Willingness to Take Risks
  • Interpersonal Skills
• Competencies for entrepreneurial success

  • Integrity
  • Conceptual Thinking
  • Risk-taking
  • Collaboration
  • Strategic Thinking
  • Commercial Aptitude
  • Decisiveness
  • Optimism
  • Customer Relations Service
  • People-centered
• Competencies for entrepreneurial success

  • Integrity: An entrepreneur should have a positive sense. He or she knows what is good and right, does what is best for everyone, and does not act without thinking
  • Conceptual Thinking: An entrepreneur reviews project outcomes in order to understand where problems occurred. Check the impact of the proposed solution on both customers and employees
  • Risk-taking: An entrepreneur relies on his or her gut feel if the venture will be successful or not
  • Collaboration: An entrepreneur should establish good networking and connections with experts and government agencies that are instrumental to the operation and success of the business
  • Strategic Thinking: An entrepreneur finds ways to do things faster or at less costs
  • Commercial Aptitude: An entrepreneur always checks for updates on the current trends in the market in relation to his or her product
  • Decisiveness: An entrepreneur switches to an alternative strategy to reach a goal. It generates new ideas and innovative solutions
  • Optimism: An optimistic entrepreneur lets go of the unfortunate events that took place and just takes the lessons learned from the experience
  • Customer Relations Service: A good entrepreneur knows what his or her customers need in order to satisfy them and have a long-term relationship with them
  • People-centered: An entrepreneur knows how and when to show empathy. He or she listens actively to everyone
• The common competencies are the skills you need in starting a business. On the other hand, the 10 competencies discussed are the skills that you need to be a successful entrepreneur
• An entrepreneur is a person who creates unique ideas that will be useful for a starting business
• Entrepreneurship is the science of converting processed ideas into a remarkable business venture