1. Concepts of entrepreneurship

2. Entrepreneurship
The ability of the individual to determine and come up with the proper combination of the resources available in his environment and transform this into an output of either goods or services, and obtain a fair profit at the price the entrepreneur sets.

3. The entrepreneur
- Are individuals who are alert to profitable opportunities for the exchange of goods and service

4. The Filipino Entrepreneur
Findings in the Global Entrepreneurship Monitor (GEM) Research Consortium:
Four out of ten adult Filipinos are engaged in business
About half are in the early- stage entrepreneurial activity (Total Early Stage Activity – TEA)
19.7 % (9.5 million) comprise the country’s established businesses
Mindanao has the highest TEA while Northern Luzon has the lowest .
Most of the businesses are in consumer oriented with 35%

5. The Filipino Entrepreneur
Findings in the 2006 Global Entrepreneurship Monitor (GEM) Research Consortium:
6. Motivated by Necessity (54%) and opportunity motivations (37%)
7. Face stiff competition (75%), lack novelty (71%), lack new technology (67%), not employing (63%), and not exporting (77%).
8. Only 8 out of 10 have discontinued a business in the past 12 months
9. Only 34% have dealings with banks.
10. Only 17 who receive remittances use them to finance business.
11. Only 1% are non-owner investors.

6. The Challenge to Entrepreneurs
“Borderless World” – globalized trading system
- the Filipino entrepreneur who used to develop and market products locally is now faced with local competition with both Filipino and foreign products and services which are now available in the market.
- the Filipino entrepreneur has to contend with casting out the colonial mentality of the local market with its preferences for imported brands.
- Filipino entrepreneurs have the chance of developing and marketing export-quality products owing to the various incentives and support available.

7. The Challenge to Entrepreneurs
“Cyber space or information highway”
- The resurgence and constantly improving information technology sector is a development to watch and its benefit for entrepreneurs to grab and exploit.
- By exploiting the benefits of information technology, and the various software available in the market, one can easily network with the foreign markets.
- The proliferation of computers both in offices and households has revolutionized business operations and system, allowing every place practically a base for business operations.

8. Socio-economic Benefits from Entrepreneurship
Promotes self-help and employment
Mobilizes capital
Provides taxes to economy
Empowers individual
Enhances national identity and pride
Enhances competitive consciousness
Improves quality of life
Enhances equitable distribution of income and wealth

9. Concepts of being an entrepreneur
The Entrepreneur as a Missionary
Perceives opportunities inherent in the exchange of goods with great desire for profit
The entrepreneur creates an environment in which success is possible and the possibility of failure is controllable
The entrepreneur is at work whenever he takes risk and invests his personal talents and resources to make something new or different as customers like to buy new and improve products

10. Concepts of being an entrepreneur
2. The Entrepreneur as an Extraordinary Businessman
The entrepreneur has knowledge which ordinary people do not have.
This additional knowledge leads the entrepreneur to exploit the opportunities
He uses his inherent talent for innovating distribution of goods or making new service to satisfy his customers

11. Concepts of being an entrepreneur
3. The Entrepreneur is Marketing Man
He marshals his resources to pursue the opportunities and makes immediate action.
The needs and wants of customers are properly identified
He takes the lead for innovation and makes modifications to make the customer aware that his product or service is more superior than those offered by others

12. Concepts of being an entrepreneur
4. The Entrepreneur starts small to become big
Many entrepreneurs start small but with their managerial talents and persistence, they exploit the opportunities available for their disposal
Entrepreneurs are generally extrovert, aggressive and would like to work, and value he possesses.
He perceives risk as opportunity and makes innovations or modifications as he exploits the resources available to make things happen.

13. Peculiar characteristics of managers in solving problems
He develops system and procedure that are precised based on current practices in the industry.
The manager is interested in solving organizational problems rather than finding other avenues in the solution of problems.
The manager is interested in the refinement of policies and procedure and tends to revise them to solve existing problems
He finds ways and means to solve problem and compliance to routine activities.
He is interested in details and sensitive to group cohesion and extract group cooperation as a means to group accomplishments.

14. Characteristics of innovator entrepreneur In solving problems
He looks at the problem on the different angles and finds means to circumvent the same
He discovers the roots of the problem and develops avenues to better solve the problem. He formulates solutions and alternatives.
He develops basic assumptions and hypothesis related to current practices and makes innovations based on careful analysis through SWOT.
The innovator entrepreneur is interested in the end results rather than the means to achieve it. He has little tolerance for details and routine work.
He capitalizes on people with bright ideas and talents and gets their opinion and consensus and with little regards for people with mediocre ideas.