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    Entrepreneurship

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    MJ Baja
    The document defines entrepreneurship as undertaking an idea or act. An entrepreneur recognizes opportunities where others see chaos and takes risks. The entrepreneurial mindset seeks change rather than waiting to adapt. Some myths about entrepreneurship include that entrepreneurs are always inventors or risk-takers. The stages of business start-up include idea generation, testing, planning, execution, and operations. Entrepreneurs focus on innovation and growth while business owners expect stable profits.

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    Entrepreneurship

    Uploaded by

    MJ Baja
    161 views17 pages
    The document defines entrepreneurship as undertaking an idea or act. An entrepreneur recognizes opportunities where others see chaos and takes risks. The entrepreneurial mindset seeks change rather than waiting to adapt. Some myths about entrepreneurship include that entrepreneurs are always inventors or risk-takers. The stages of business start-up include idea generation, testing, planning, execution, and operations. Entrepreneurs focus on innovation and growth while business owners expect stable profits.

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    The document defines entrepreneurship as undertaking an idea or act. An entrepreneur recognizes opportunities where others see chaos and takes risks. The entrepreneurial mindset seeks change rather than waiting to adapt. Some myths about entrepreneurship include that entrepreneurs are always inventors or risk-takers. The stages of business start-up include idea generation, testing, planning, execution, and operations. Entrepreneurs focus on innovation and growth while business owners expect stable profits.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    161 views17 pages

    Entrepreneurship

    Uploaded by

    MJ Baja
    The document defines entrepreneurship as undertaking an idea or act. An entrepreneur recognizes opportunities where others see chaos and takes risks. The entrepreneurial mindset seeks change rather than waiting to adapt. Some myths about entrepreneurship include that entrepreneurs are always inventors or risk-takers. The stages of business start-up include idea generation, testing, planning, execution, and operations. Entrepreneurs focus on innovation and growth while business owners expect stable profits.

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    You are on page 1of 17
    At a glance
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    The key takeaways are the objectives of the session, definition of entrepreneurship, characteristics of an entrepreneur, entrepreneurial mindset, stages of business start-up, and difference between an entrepreneur and business owner.

    Entrepreneurship is defined as a dynamic process of vision, change and creation that involves willingness to take risks, ability to form an effective team, skills to build a business plan and vision to recognize opportunities.

    The three masteries that reinforce the entrepreneurial mindset/spirit are self-mastery, environment (situational) mastery and enterprise mastery.

    Entrepreneurship

    Basic Concepts and Principles

    By: Mr. Mark Joseph E. Baja, BSA, CSPE


    Objectives of the Session:
    1. To set forth a comprehensive definition of
    entrepreneurship
    2. To be able to know the likes of an entrepreneur
    3. To acquire understanding of the entrepreneurial
    mindset/spirit
    4. To explore and debunk the myths of entrepreneurship
    5. To know the stages of business start-up
    6. To differentiate entrepreneur from business owner
    What is Entrepreneurship?

    ENTREPRENEUR is derived from the French word


    entreprendre, meaning “to undertake.”

    Meanwhile, -SHIP is a suffix that converts a verb


    into a noun.

    Thereby, making ENTREPRENEURSHIP as AN IDEA OR


    ACT TO UNDERTAKE.
    What to undertake as an Entrepreneur?

     Business
     Project
     Enterprise
     Programs
     Partnerships
     Etc.
    Entrepreneurship defined

    A dynamic process of vision,


    change, and creation.
     Essential ingredients include:
     The willingness to take calculated risks—in terms of time, equity, or career.
     The ability to formulate an effective venture team; the creative skill to marshal needed
    resources.
     The fundamental skills of building a solid business plan.
     The vision to recognize opportunity where others see chaos, contradiction, and confusion.
    Who is an Entrepreneur?

     Theentrepreneur is one who undertakes to


    organize, manage, and assume the risks of a
    business.
     Althoughno single definition of entrepreneur exists
    and no one profile can represent today’s
    entrepreneur, research is providing an increasingly
    sharper focus on the subject.
    Who is an Entrepreneur?

     Recognize opportunities where others see chaos or


    confusion
     Are
    aggressive catalysts for change within the
    marketplace
     Challenge the unknown and continuously create the
    future
    Entrepreneurial Mindset/Spirit

     It's an attitude and approach to thinking that


    actively seeks out change, rather than waiting to
    adapt to change. It's a mindset that embraces
    critical questioning, innovation, service and
    continuous improvement.
    The Entrepreneurial Mindset/Spirit

     Entrepreneurship is more than the mere creation of


    business:
     Seeking opportunities
     Taking risks beyond security
     Having the tenacity to push an idea through to reality
     Entrepreneurship is an integrated concept that
    permeates an individual’s business in an innovative
    manner.
    3 Masteries that Reinforce the
    Entrepreneurial Mindset/Spirit
     Self-Mastery

     Environment (Situational) Mastery

     Enterprise Mastery
    The Myths of Entrepreneurship

    Myth 1: Entrepreneurs Are Doers, Not Thinkers


    Myth 2: Entrepreneurs Are Born, Not Made
    Myth 3: Entrepreneurs Are Always Inventors
    Myth 4: Entrepreneurs Are Academic and Social Misfits
    Myth 5: Entrepreneurs Must Fit the “Profile”
    The Myths of Entrepreneurship

    Myth 6: All Entrepreneurs Need Is Money


    Myth 7: All Entrepreneurs Need Is Luck
    Myth 8: Ignorance Is Bliss For Entrepreneurs
    Myth 9: Entrepreneurs Seek Success But Experience
    High Failure Rates
    Myth
    10: Entrepreneurs Are Extreme Risk Takers
    (Gamblers)
    Stages of Business Start-Up

    1. Idea Generation
    2. Testing the Idea (Feasibility Study)
    3. Business Plan
    4. Plan Execution
    5. Commencement of Operations
    TO CLOSE:
    Entrepreneur vs. Business Owner
     Business Owners
     Manage their businesses by expecting stable sales,
    profits, and growth
     Entrepreneurs
     Focus their efforts on innovation, profitability and
    sustainable growth
    References:

     Introduction to Entrepreneurship, 8e
    Donald F. Kuratko
     Go Negosyo 50 Inspiring Entrepreneurial Stories
     Forbes Online
    https://www.forbes.com/sites/jacquelynsmith/2013/10/22/how-to-keep-
    your-entrepreneurial-spirit-alive-as-the-company-you-work-for-grows/
     Wadhwani Foundation Online
    https://wiki.wfglobal.org/category/entrepreneurship/infographics/
    ===End of Presentation===

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