LESSON 1
There is no certainty only opportunity ~ V for Vendetta
PRETEST: HANDA KA NA BA MAGNEGOSYO? (Please see previous post)
A.
What
is Entrepreneurship?
It is the process/propensity of mind to take calculated
risk with confidence to achieve pre-determined business of industrial objectives.
The word itself, derived from 17th-century French entreprendre, refers
to individuals who were “undertakers”, meaning those who “undertook” the risk
of new enterprise. They were
“contractors” who bore the risks of profit or loss, and many early
entrepreneurs were soldiers of fortune, adventurers, builders, merchants, and,
incidentally, funeral directors.
B. What are the barriers to Entrepreneurship?
1. _________________________________
2. _________________________________
3. _________________________________
4.__________________________________
5. __________________________________
C.
What
are the benefits/advantages of Entrepreneruship?
a.
To
an individual
1.
__________________________
2.
__________________________
3. ___________________________
3. ___________________________
b.
To
the Nation
1.
__________________________
2.
__________________________
3. ___________________________
3. ___________________________
D.
Entrepreneurial
Decision Process
E.
Invention
VS Innovation
INVENTION
|
INNOVATION
|
The adoption of ideas that is new to the adopting
organization. An invention successful to market and capitalize on it.
|
|
2 types of innovation:
Technical Innovation: Improved products,
services or processes or completely new once (may require Administrative innovation).
Administrative Innovation: Changes in
organizational structures and administrative processes (may affect Technical
innovation).
|
|
An innovation is when a company use new
knowledge to offer a new product or service that customers want.
2 types of new knowledge:
Technological knowledge: Knowledge of
components, linkages between components, methods, processes and techniques
that go into a product or service.
Market knowledge: Knowledge of
distribution channels, product applications, and customer expectations,
preferences, needs and wants.
|
F.
Why Innovation important?
________________________________________________
________________________________________________
G.
Who is an Entrepreneur?
An entrepreneur searches
for change, responds to it and exploits opportunities. Innovation is a specific
tool of an entrepreneur hence an effective entrepreneur converts a source into
a resource (1964 Peter Drucker)
Level of Creativity and
Innovativeness
|
High
|
||
Low
|
|||
Low
|
High
|
||
General Management Skills, Business
Know How and networks
|
|||
Inventor, Promoter,
Entrepreneur, Manager/Administrator
H. Benefits of an Entrepreneur
“Looking back, the day that I got fired was the
best day of my life”
1. _____________________________________________________________
2. _____________________________________________________________
3. _____________________________________________________________
4. _____________________________________________________________
5. _____________________________________________________________
I.
Who is an Intrapreneur?
An entrepreneur within an existing
organization (entrepreneurship within an organization). It is also referred as
corporate entrepreneur. Intrapreneurs are not necessarily the inventors of new
products or services but are the persons who can turn ideas or prototypes into
profitable realities.
Persons who can turn ideas/prototypes
into profitable realities
J. Characteristics of a
traditional manager, entrepreneur and intrapreneur
K. Myths of Entrepreneurs
References:
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