tle q4 l1

• those with the skills and capabilities to see and

  evaluate business opportunities

  Entrepreneurs
• They are individuals who can strategically

  identify products or services needed by the community, and have the capacity

  to deliver them at the right time and at the right place

  entrepreneurs
• is not just a simple business

  activity but a strategic process of innovation and new product creation

  entrepreneurship
• is both an art and science of converting business

  ideas into marketable products or services to improve the quality of living

  entrepreneurship
• refer to the important characteristics that should be possessed by an individual in order to perform entrepreneurial functions effectively.

  entrepreneurial competencies
• This means working diligently and being consistent about it. Hardworking people keep improving their performance to produce good products and/or provide good

  services.

  hardworking
• most important characteristics

  hardworking
• Entrepreneurs have self-reliance in one’s ability and judgment

  confident
• They exhibit self-confidence to cope with the risks of

  operating their own business.

  confident
• Successful entrepreneurs always stick to the plan

  and fight the temptation to do what is unimportant

  disciplined
• Good entrepreneurs assume full responsibility over

  their business.

  committed
• They give full commitment and solid dedication to

  make the business successful.

  committed
• Nothing is permanent but change.

  Change occurs frequently.

  ability to accept change
• An entrepreneur should be creative and innovative to stay in the business and in order to have an edge over the other

  competitors.

  creative
• When you own a business, you should cope with and thrive on changes. Capitalize on positive changes to make your business grow.

  ability to accept change
• An entrepreneur takes the initiative

  has the initiative
• You must

  put yourself in a position where you are responsible for the failure

  or success of your business.

  has the initiative
• An entrepreneur enters the world of business to generate profit or additional income

  profit-oriented
• The business shall become

  your bread and butter. Therefore, you must see to it that the business can generate income.

  profit-oriented
• Planning involves strategic thinking and goal setting to achieve objectives by carefully maximizing all the available resources

  excellent planner
• A good entrepreneur develops and follows the steps in the plans diligently to realize goals. A good entrepreneur knows that planning is an effective skill only when combined with

  action.

  excellent planner
• This is a very important skill needed to be successful in any kind of business

  possesses people skills
• People skills refer to effective and efficient communication and establishing good relationship to the people working in and out of your business.

  Possesses people skills
• A well-developed interpersonal skill can make a huge difference between success and failure of the business.

  Possesses people skills
• swot meaning

  strength, weaknesses, opportunities, threats
• is a managerial tool used to assess the environment. It is used to gather important information which is then used in strategic planning

  swot analysis
• are internal in an organization. They relate to resources owned by an organization that you have control over and also the extent of its marketing.

  strengths and weaknesses
• exist in the external environment.

  opportunities and threats
• relate to the market, new technologies, and the external factors such as government policies, climate, and trends

  opportunities
• replace what the competitors are doing. It also includes legal and other constraints.

  threats