ENTREPRENEURSHIP

Overview of
Entrepreneurship
Chapter 1
Learning Objective
• LC1. Discuss the relevance of the entrepreneurship in general;
including its economic importance.
• LC2. Describe clearly between entrepreneurship and employment.
• LC3. Explore opportunities for Entrepreneurship as a career.
Learning Objective
• LC4. Explain the key concepts of common and core competencies in
entrepreneurship;
• LC5. Define who is an entrepreneur.
Discuss the relevance of the
entrepreneurship in general;
including its economic
importance.
LC1.
What is an Economy?
• The Economy is the organized system of human activity involved in
the production, consumption, exchange, and distribution of goods
and services.

• (http://www.investinganswers.com/financialdictionary/economics/economy-1517)
What is ENTREPRENEURSHIP?
• -a proactive process of developing a business venture to make a
profit.
• -seeking opportunities for a market.
• -establishing and operating a business out of the oppurtunity.
• -assessing its risk and rewards through close monitoring of the
operations.
 Describe clearly between
entrepreneurship and
employment.
Entrepreneur vs Employee
LC2
Opportunities for Entrepreneurship as a career
Explain the key concepts of
common and core
competencies in
entrepreneurship
LC4
Common and Core
Competencies in
Entrepreneurship
Common Traits
• -Proactive
• -Agents of change
• -Risk takers
• -Have a sharp eye of oppurtunities
• -Sociable
• -Networkers
• -Decisive
• -Balanced
• -Innovative
Core Traits

• -Leaders
• -Communicators
• -Specialist
• -Problem Solvers
LC5: Who is an Entrepreneur?
(and what to expect from them...)
• -is a unique individual who has the innate ability and extraordinary
dedication to establish and manage a business, acknowledging all the
risk and reaping its rewards.
• -entails a holistic business skills, ranging from product and marketing
expertise, to operations agility, and to financial proficiency.
• -can expect returns through added or created value out of an
opportunity
LC5: Who is an Entrepreneur?
(and what to expect from them...)
• -a perceptive to opportunities in the surroundings that normal people
don't give importance to or often neglect.
• -leadership is the core of every entrepreneur
• -always excited on the business and bravely takes risks.
• -innovate, execute, and rarely procrastinates (or always on time, or
never late).
Five levels of entrepreneurial
development.(according to Action Coach...)
• 1st, The self-employed
• 2nd, The manager
• 3rd, Then leader
• 4th, The investor
• 5th, The true entrepreneur