Entrepreneurship

Entrepreneurship is the process of designing, launching and running a new business,

which is often initially a small business. The people who create these businesses are
called entrepreneurs.

BS Entrepreneurship is taught through classroom-based frontal instructions, writing of

business research papers, creation of feasibility studies and business plans, and actual
implementation of these business plans.
Is Entrepreneurship a profession?

Entrepreneurship is NOT a profession. Entrepreneurship is the process of identifying a

business opportunity, sourcing and obtaining the necessary resources, starting up and
managing a business venture, and taking both the rewards and risks that accompany it.
What are the admission requirements for BS Entrep?

There are usually no special requirements for enlisting to the BS Entrep program, beyond the
standard requirements of a high school degree and passing the school’s entrance exam.
What traits will help you be an entrepreneur?

o Resourcefulness is an important trait because an entrepreneur should have the ability to

make use of available resources for productivity.
o An opportunity-seeking attitude is essential because entrepreneurs must be able to
readily identify or spot a business opportunity present in a given situation.
o Resilience is important because in starting and managing a business, you will surely face
a lot of obstacles which you need to overcome quickly.
o An entrepreneur must also be flexible and must have the ability to adapt to changing
times or situations that may affect the business.
o Being fearless is essential because starting up your own business involves a lot of risks.
o Entrepreneurs must be good decision-makers, and must be firm with the decisions they
make.
o Being self-confident is another important trait because you must show your employees
that you know what you’re doing and is good at it so they will respect and trust you.
o Entrepreneurs must also possess hard work values in order to implement the business
plan effectively and get certain tasks done.
o Being innovative is an important trait because you must always have unique and original
ideas for your business venture to be successful.
o Being a good leader is important because you will not only manage a business, but also
manage the employees that work for you.
o Having excellent communication and interpersonal skills is important because working
as an entrepreneur entails a lot of interaction with employees, business partners,
clients, customers, suppliers, etc.
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 o Creativity is an important factor in coming up with new products, services, or business
ideas.
How difficult is this course?

This course is of average difficulty. It is not as difficult as science and math courses or other
technical programs.
How long does it take to complete BS in Entrepreneurship in the Philippines?

Normally, the BS Entrep program takes 4 years to complete (Note: this may change due to the
K-12 integration). The program may be completed in a shorter time in schools that follow the
trimestral curriculum.
On The Job Training / Internship

There is no CHED-mandated number of internship hours for BS in Entrepreneurship students.

The length of the On-the-Job Training period depends on the requirements of the school.
Is there a board examination for BS Entrepreneurship?

There is no board examination for BS in Entrepreneurship graduates.

Career opportunities for BS Entrepreneur graduates

o Jobs related to Entrepreneurship

o Entry Level jobs
Jobs requiring no prior to minimal level of experience:
o Business Development Officer – this involves designing, coordinating the
implementation, and ensuring strong links between technical assistance and
investment projects. Some of the job duties include collating data, working on
policies for project approval and quality assurance, as well as assisting in
developing and launching new projects.
o Business Proposal Writer – this job involves writing templates to guide
proposal contributors, managing proposal reviews, rewriting content from
previous proposals, updating proposal drafts, proofreading and editing
proposal content, and conducting white glove reviews of final proposals.
o Business Planner – this job entails conducting risk evaluation, control
techniques, business impact analysis, as well as emergency response policies.
o Research Associate – this involves duties such as conducting economic and
financial research and analysis, exploring the best practice policies, and
researching on market mechanisms.
o Mid-Level Positions
Require trainings and prior job experience of a few years:

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 o Business Owner – a business owner is responsible for creating a business plan,
implementing this plan, obtaining finances for the business, managing
resources, monitoring sales, and managing the employees.
o Business Consultant – this job entails helping clients solve business problems,
facilitating and participating in important meetings, and communicating with
the management and the client.
o Investment Consultant – this refers to an advisor who helps investors with
their investment planning. They formulate clients’ investment strategies, aid
them with the implementation, and help them fulfill their goals.
o Advanced Positions
Require years of extensive experience and practice:
o Business Development Manager – this job involves duties such as prospecting
for new clients by networking and advertising, developing rapport with new
clients, setting sales targets, and planning approaches to certain situations.
o Marketing Manager – this job entails monitoring and analyzing market trends,
studying competitors’ products, improving existing products or services, and
identifying target markets.
o Academician – this involves working in a university or college to teach
students about the field of Entrepreneurship.
o Jobs NOT related to entrepreneurship that graduates can apply to
o Call center agent – answers phone calls and inquiries of clients and provides
customer support, usually to people from other countries
o Administrative Assistant – this job entails providing administrative support in an
organization. Some of the job duties include sorting and mails and documents,
writing business letters, answering phone calls,and other administrative tasks.
o Sales Representative – this job entails servicing existing accounts, obtaining orders,
establishing new accounts, keeping the management informed by submitting sales
reports, recommending changes in products or services, and resolving customer
complaints.
o Sales Support – this job involves processing new sales leads, monitoring customer
accounts, keeping track of sales targets, and providing important data to help the
sales team.
o Customer Service Officer – this job involves interacting with the customers to
provide information or assistance regarding the company’s products, services, or
operations.
o Leads Management – this involves generating potential business clientele through
marketing campaigns and programs.
o Cost Controller – this job entails building an annual operating budget for the
company, managing purchases and labor practices, writing reports on labor costs,
and providing profit estimate reports.
o Merchandiser – this job involves deciding which goods to stock in the shops or what
supplies should be bought for the production of goods. A merchandiser is always
involved in buying and selling of goods.

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 o Insurance Clerk – this job entails tasks such as maintaining files and records,
tracking policy renewal dates, and contacting customers who are delinquent in
their payment.
o
o Store Manager – store managers are responsible for the general operations of a
store, planning the daily schedule of employees, creating and maintaining budgets,
as well as interviewing and hiring employees.
o
o Credit and Collection Clerk – this job involves contacting customers on past due
accounts, account reconciliations, reviewing account information, monitoring
collection problems, and working with others in the company to resolve payment
issues.
o
o Credit Analyst – this job entails analyzing credit data and financial statements,
preparing reports that include the degree of risk involved in extending credit,
evaluating customer records, doing credit analysis, and conferring with credit
association and other business representatives to exchange credit information.
o
o Budget Analyst – this involves analyzing monthly department budgeting, directing
o the preparation of budget reports, consulting with managers about budget
adjustments, providing advice and technical assistance regarding budget
preparation, summarizing budgets, as well as submitting recommendations that are
subject for approval.
o
o Freelancer working online – doing online jobs for clients abroad, such as data entry,
article writing, SEO, customer support, administrative support etc., which mainly
depends on your skills
o Career Opportunities Abroad
There are limited job opportunities abroad for Filipino graduates of BS in
Entrepreneurship, mainly in business development positions. (source)

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Types of Entrepreneurs
One of the reasons there is disagreement over the definition of entrepreneur is
that it includes so many different types of self-employed businesses. Some
common types of entrepreneurship include:

 Small business: This includes mom and pop shops and local business
owners. Small business can include partnerships, sole proprietors, and LLCs.
Generally it's any business that has less than 500 employees, according to
the Small Business Administration.
 Home-Based Business: A home based business could fit under the
category of small business, but the primary factor in this case is that it's run
from home, as opposed to an office or other location. But just because a
business is run from home, doesn't mean it can't compete with larger
businesses. In fact, many large corporations were started from a home,
including Apple and Disney.

 Online Business: Internet-based business can be small, home-based, or

even large corporations. The key difference here is that the business is
operated primarily online. This includes companies like Amazon or other e-
commerce businesses, bloggers, Ebay and Etsy owners, and any other
business that does the majority of its business online.

 Inventors: For an inventor to be considered an entrepreneur, he needs to
go beyond the idea stage to build the product and get it to market. A
good example of inventors that transition to entrepreneurs are the
contestants on Shark Tank.

 Serial Entrepreneur: Many entrepreneurs get the most joy out of starting
and building a business, but not in its continued management, so they sell
it to launch a new idea. They are still considered entrepreneurs because
they operate and assume risk in the business for the time they own it. Other
times, serial entrepreneurs juggle several businesses at once, earning
multiple streams of income.

 Lifestyle Entrepreneur: Although the idea of lifestyle entrepreneur isn't new,
it's gained in popularity with the rise of technology, the Internet, and a
global economy. A lifestyle entrepreneur is one that builds a business that
incorporates their interests and passions, and sustains their life goals. Many
in this category are referred to as digital nomads because they often have
online businesses that allow them to travel. However travel isn't necessary
to be lifestyle entrepreneur. The key factor in a lifestyle entrepreneur is that
they do what they love, and/or the business supports their chosen lifestyle.

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Characteristics of a Successful Entrepreneur
Whether a person is born to it or develops it, there are characteristics and traits
required for successful entrepreneurship including:

 Passion - Talk to successful entrepreneurs and you'll nearly always hear

the word passion when they describe what they do. Following your
passion is one of the best predictors of success.

 Independent thinking - Entrepreneurs often think outside the box and
aren't swayed by others who might question their ideas.

 Optimism - It's difficult to succeed at anything if you don't believe in a
good outcome. Entrepreneurs are dreamers and believe their ideas are
possible, even when they seem unattainable.

 Self-confidence - This is not to say entrepreneurs never have self-doubt,
but they're able to overcome it, and believe they can achieve their goal.

 Resourceful and problem solvers - Lack of assets, knowledge, and

resources are common, but entrepreneurs are able to get what they need
or figure out how to use what they've got in order to reach their business
goals. They never let problems and challenges get in the way, and
instead find ways to achieve success despite hardships.

 Tenacity and ability to overcome hardship - Entrepreneurs don't quit at the
first, second or even hundredth obstacle. For them, failure is not an option,
so they continue to work toward success, even when things go wrong.

 Vision - Some of the more stringent definitions of entrepreneurship include

vision as a necessary element. It helps to know your end goal when you
start. Further, vision is the fuel that propels you forward toward your goal.

 Focus - It's easy in this fast paced, constant info-in-
your-face world to get distracted. This is especially true
for business start-ups that often get side-tracked by the
shiny object syndrome (i.e. products and services that
promise fast results), or bogged down in unimportant
busy work. Successful entrepreneurs are focused on
what will bring results.

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  Action oriented - Entrepreneurs don't expect something
from nothing and they don't wait for things to happen.
They are doers. They overcome challenges and avoid
procrastination.

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