ENTREPRENEUR REVIEWER
determination
ENTREPRENEUR – people who own, operate and
take risk of business venture.
CHARACTERISTICS OF ENTREPRENEURS
1. VISIONARY
- Is able to see exactly what his or her
business is going to look like in every
detail when it is finished.
2. LEARN FROM YOUR MISTAKE
-Means expecting to fail and being
okay with that. More than okay:
welcoming it.
3. GOAL ORIENTED
- Work towards clear and measureable
targets. Accept responsibility for
your long-term success. Working
towards clearly defined goals is
essential.
4. ADVOCATE OF CHANGE
- Champions for a purpose. You're
actively campaigning for the
discomfort of others
5. ACTION TAKER
- Makes a plan of how to get their task
done.
6. PERSEVERANCE
- Means leaning forward, walking one
foot after the other into the chill
entrepreneurial wind until you've
reached your milestones and
eventually achieved your goal
7. CREATIVE
- is about coming up with innovative
ideas and turning them into value-
creating profitable business activities.
8. RISK TAKER
- is someone who risks everything in the
hope of achievement or accepts
greater potential for loss in decisions
and tolerates uncertainty.
9. NEVER COMPLAIN
- Turning complaints into opportunities.
10. CHAMPION MINDSET
- does not accept defeat. The champion
uses every adversity as a catalyst to
victory
TRADITIONAL ENTREPRENEUR – someone
who habitually creates and innovates to build
something of recognized value around perceived
opportunities.
o Motivated by financial gain
o Seeks personal or shareholder gain
o Higher levels of self-interest
o Lower levels of social conscience
o Higher level of drive and
SOCIAL ENTREPRENEUR – someone who seeks
to maximize social value or social capital from
non-profit pursuits to solve social problems.
o Motivated by social gain
o Highly innovative and creative
o Lower levels of self-interest
o Higher levels of social conscience
o Higher levels of risk taking
MILLENIAL ENTREPRENEURS – are social
entrepreneurs. A generation that has been
described as lazy, narcissistic, entitled and
unable to stay in one job, have also been
described as the most purpose driven and
potentially the most entrepreneurial of all
previous generations.
IMPORTANCE OF ENTREPRENEURSHIP
1. NEW PRODUCTS - Entrepreneurs can
reimagine markets and create new
products offering more choice.
2. NEW VALUES - Some entrepreneurs
may be motivated to provide
goods/service with greater ethical
consideration.
3. NEW ‘GIG’ ECONOMY - Entrepreneurs
essential aspect of new technological
“gig” economy.
4. FREE MARKET - Respond to the Changing
preferences and technology.
5. EFFICIENCY - Create incentive for
established firms to become more
efficient.
CONTRIBUTIONS OF ENTREPRENEURS TO
ECONOMIC DEVELOPMENT
 Create Jobs
 Wealth creation and sharing
 Community development
 Standard of living
 Balanced regional development
 GDP and Per Capital Income
ETHICS IN ENTREPRENEURSHIP
o The entrepreneur should define their
moral obligation and consider when aiming
for his entrepreneurial success.
APPLICATION OF ETHICAL PRINCIPLES
AND VALUES
1. Technical Competence. Entrepreneurs
knows what his/her business is all about
and meets required standard by the
industry.
2. Search for new and improves ways to
work. Entrepreneurs constantly seeks
new and better ways to improve his
business process.
3. Complete Responsibility. The ethical
entrepreneur accepts and practices full
responsibility over everything that goes
on in the business; he does not point his
fingers at others on at circumstances to
blame for negative incidents failure.
4. Respect for the needs of those around
him. The ethical entrepreneur makes sure
that customers, employees, investors,
suppliers, business associates and other
stakeholders.
5. Fair Pricing. This is the touchstone of
entrepreneurship. The ethical
entrepreneur always establishes revenue
forecasts that are realistic based on fair
pricing.
6. Rewards for good action. The ethical
entrepreneur encourages his employees
to do good by giving bot intrinsic and
extrinsic rewards.
7. Correction for does doing wrong. The
ethical entrepreneur follows a set of
disciplinary actions and sanctions that are
known to his employees and which are
calibrated according to the degree of the
wrong doing
8. Sound financial management. The ethical
entrepreneur manages finances
effectively to allow for stable
employment for everyone in the business
even during times of crisis or temporary
slowdown.
9. Efficient and rigorous business
monitoring and reporting. The ethical
entrepreneur is open and honest. He
develops a sound and rigorous financial
monitoring and reporting system that
provides full and accurate information
leading to realistic forecasts.
10. Sharing financial success. The ethical
entrepreneur shares the company’s
financial success with his employees,
partners, suppliers and others who helped
create the business.
11. Social responsibility. The ethical
entrepreneur gives back to the
community by contributing to its welfare.
12. Environmental awareness. The ethical
entrepreneur makes sure that the
environment is not degraded or further
destroyed by his negligence and
irresponsibility.
POSITIVE RESULTS OF ETHICAL
PRACTICES
 Projects reputations of the entrepreneur
as a good partner in business.
 Ethical decisions will make others trust
him and the business he runs
 Good relations to investors, suppliers
 Positive and healthy communication
 Customer, Partners Satisfaction
FACTORS INFLUENCE ENTERPRISE CHOICE
o Personality Factors – personal choice and
attitude; introvert and extrovert
o Cultural and Environmental factors –
family culture
TYPES OF ENTREPRENEURS
THE MANUFACTURER
o An entrepreneur who produce products
from processing the raw materials and
made it available in the market.
Manufacturer may be one of the following
1. Handicraft producer
2. Cooked Food Producer
3. Processor or subcontractor
THE TRADER
o An entrepreneur who transfer goods
from the manufacturer who produces the
goods to the customers.
Trader may be one of the following
1. Wholesaling
2. Retailing
3. Repacking
4. E-Trading
5. Vending Machine Operation
THE SOLO ENTREPRENEUR
o Independent and has autonomy from
structures. He/she assumes the capital
and the risk it sets.
Solo Entrepreneur may be one of the following
1. Event Organizer
 2. Show host, Clown, Magician, Fireworks INTERNATIONAL ENTREPRENEURS
specialist
1. Monique Lhuillier
THE STREET ENTREPRENEUR 2. Oprah Winfrey
3. Blake Mycoskie
o Are common in the Philippines and other
4. Bill Drayton
Asian countries
5. Bill Gates
Street entrepreneur may be one of the 6. Muhammad Yunus
following: 7. Donatella Versace

1. Street sellers NATIONAL ENTREPRENEURS

2. Sidewalk vendors
1. Julie Gandiongco
3. Hawkers
2. Lucio Tan
THE FRANCHISEE 3. Mariana Que
4. Socorro Ramos
o A form of business organization in which
5. Tony Tan Caktiong
as established from (franchisor) with an
6. Alfredo M. Yao
established product or service and proven
business model, allows another business
(franchisee) to offer to the market the
franchisors product or service for a fee.

THE SERIAL ENTREPRENEUR

o More concerned about starting a new

enterprise each time the one has a set up
starting to go well.
o They bring venture to a stage of
development where they can move on by
selling according to a pre-determined exit
strategy or placing the enterprise in the
hands of successor or group of
successors.

THE SOCIAL ENTREPRENEUR

o Provide products and services with the

overall desire of creating social good.
Operating from the perspective of
benefitting the people and planet while
earning profit.
o They also engage in enterprise that uses
business tools, disciplines and strategies.
o Usually non-government organization.

THE INTRAPRENEUR

o May be a manager or a salaried employee

who finds way of making innovations in
the company where he works.
o They lead in what is called process
improvement.
o They detect the needs inside a
corporation and use individual initiative to
take action to suggest idea and even start
an in-house project.