ENTERING THE WORLD OF

ENTREPRENEURSHIP
Domingo, K. (2017, August 17). Top 10 companies employees aspire to work for. Quezon City, Metro Manila,
Philippines: ABS-CBN News.
Employed Entrepreneur
 Entrepreneur vs Business Owner

Managers/ Owners Entrepreneurs

• Manage businesses by • Focus their efforts on
expecting stable sales, innovation, profitability
profits, and growth and sustainable growth
Not all business owners are
entrepreneurs
but they can be or they have been
already
It is not about the distinction
of the two,
but the importance of having
an entrepreneurial mindset
The goal of this is to develop
a entrepreneurial mindset to
you, and help you with skills
needed in entrepreneurship.
Entrepreneurship has
becoming popular
entrepreneurial
mindset
 WHAT IS
ENTREPREN
Now, what is
entrepreneurship?
”
organizing, managing, and

”
assuming the risks of a
business or enterprise
”
the activity of making money by
starting or running businesses,
especially when this involves

”
taking financial risks
 Harvard Business School
(Howard Stevenson)

Entrepreneurship is
the pursuit of
opportunity beyond
resources controlled.
 Harvard Business School
(Howard Stevenson)

Entrepreneurship is
the pursuit of
opportunity beyond
resources controlled.
 Harvard Business School
(Howard Stevenson)

Entrepreneurship is the pursuit of opportunity

beyond resources controlled.
• Pursuit – relentless focus
• Opportunity – offering that is novel
• Beyond resources – Constraint
 Entrepreneurship

Robert C. Ronstadt
• Dynamic process of creating wealth
• By individuals who assume major
risks in terms of equity, time, and/or
career commitment of providing
value for a product or service
• The product or service itself may or
may not be new or unique but the
entrepreneur must somehow infuse
value by securing and allocating the
necessary skills and resources.
(Kuratko, 2007)
 Entrepreneurship

Robert C. Ronstadt
• Wealth Creation
• By assuming risk
• Innovative and Creative
Value addition

(Kuratko, 2007)
Entrepreneurship
Entrepreneurship

Integrative Definition
• A dynamic process of
vision, change, and
creation.
• Using energy and
passion in creating &
implementing new
ideas & creative
solutions.
(Kuratko, 2004)
Entrepreneurship

Integrative Definition
• Consists of doing
things that are not
done in an ordinary
course of business
routine
• “Creativity” and
“Innovation”
(Kuratko, 2004)
Essentials of Entrepreneurship

Essential Ingredients
• Willingness to take
Calculated Risk
• Creativity and
Innovation
• Recognize
Opportunities
• Business Plan
• Management Skills
(Organization and Resource
Management)
WHO ARE
THE
 Entrepreneurs

• Traditional: Sets up a business with the aim

to make profits
• Basic:: Sustainable and innovative
• Upgraded: Transforming the world by
solving big problems
 Entrepreneurs

• “This defines entrepreneur and

entrepreneurship - the entrepreneur always
searches for change, responds to it, and
exploits it as an opportunity.”
•
― Peter F. Drucker, Innovation and
Entrepreneurship: Practice and Principles
 John Hagel
(We Need To Expand the Definition of Entrepreneurship)

Maybe we need to expand what “entrepreneur”

means.

A more useful definition might be someone who

sees an opportunity to create value and is
willing to take a risk to capitalize on that
opportunity; some elements of this are
opportunity spotting, risk taking, and
value creation.
 ENTREPRENEURIAL SPIRIT

Classic Corporate Social

Entrepreneur Entrepreneur Entrepreneur
(Intrapreneur)
ENTREPRENEURIAL SPIRIT

•CLASSIC
ENTREPRENEURS
-those who practice
entrepreneurial spirit in
their own enterprise
 Entrepreneurial Spirit

• CORPORATE
ENTREPRENEURS
(INTRAPRENEUR)
- apply their
entrepreneurial
spirit in a firm that
they do not own
Entrepreneurial Spirit

• SOCIAL ENTREPRENEURS
- use the entrepreneurial
spirit to do good/ welfare
ENTREPREN
EURSHIP &
Entrepreneurship & Enterprise

Start Set-up Growth Maturity Decline

Life Cycle of Entrepreneurs

Classic
entrepreneur

Social Corporate
entrepreneur entrepreneur
 Classical Entrepreneur

1. Start Stage
• classic entrepreneur produces innovation to
change the rules of the game.
• Passion, Capability, Market Opportunity

2. Set-up
• Laying out the ground work
 Start/ Set-up

PASSION
• Something an individual
loves to do, and does not
get tired of doing.
 Start/ Set-up

CAPABILITY
- something the person
can do consistently.
 Start/ Set-up

MARKET
OPPORTUNITY
(MARKET GAP)
The entrepreneur must be
able to consistently serve
the needs of the GAP.
Life Cycle and the Entrepreneur

Classical
Start-Up Stage

Set-Up Stage

Growth Stage

Corporate
Maturity Stage Social

Decline Stage
 Corporate Entrepreneur

3. Growth Stage
• The Classic Entrepreneur
starts to seek out
Corporate Entrepreneurs.
• An army of innovators is
needed to keep the firm
accelerating at an
increasing pace.
 Corporate Entrepreneur

4. Maturity Stage
- reached by firms which developed
Corporate Entrepreneurs, who share the
vision and values of classic-founding
entrepreneurs.

5. Decline Stage
- felt by Classic Entrepreneurs
who fail to bring out the
entrepreneurial spirit from their
people.
Start Set-up Growth Maturity Decline

Social
Entrepreneur
Corporate
Entrepreneur
Classic
Entrepreneur
Social Entrepreneurs

When the classic entrepreneur

has created the entrepreneurial
organization full of corporate
entrepreneurs, he can start or
has the motivation to become a
social entrepreneur.
CONTRIBUTI
ONS OF
 Importance

1. Entrepreneurs create
new businesses
– Fills specific needs not
yet provided
– Provide Customer
Value
– Improves quality of
life
 Importance

2. Entrepreneurs Contribute
to National Income
– Employment
– Taxation
– Income
– Backbone of the Economy
 Importance

3. Entrepreneurs Create
Social Change
– Improve quality of life
– Distribution of income and
wealth
– Empowers individuals
– Promotes self-help and
employment
 Importance

4. Entrepreneurs Create
Community Development
– Improve quality of life
– Market-based vs provision
– Sustainable Social
Responsibility
 Importance

5. Enhance and Restore

Pride and National
Identity
– Filipino products
– Promote quality goods
– Culture
 THE
ENTREPREN
EURIAL
WHAT ARE THE ENTREPRENEURIAL SPIRIT SEEs?

ENTREPRENEURIAL SPIRIT stands on three

masteries (according to Dr. Edwardo Morato Jr.) :

SELF - SITUATION OR
ENVIRONMENTAL
MASTERY MASTERY

ENTERPRISE
MASTERY

ABME 10. Foundations of Entrepreneurship

SELF- MASTERY
Starts with self discovery
and then proceeds to self
development
Emotional Quotient
- creating positive results from
relationships with others and
the self
Adversity Quotient
- allows the entrepreneurial
spirit to deal with failure and
negative results

ABME 10. Foundations of Entrepreneurship

ENVIRONMENTAL MASTERY
• The only foundation for
innovation.
• These people have been
able to practice their self-
mastery upon the situation
or environment.
• They are on the top of the
situation, and not victims
• They totally understand the
game.

ABME 10. Foundations of Entrepreneurship

ENTERPRISE MASTERY
Enterprise Mastery is the
ability to:
• lead and inspire other
people inside and outside
the enterprise
• master the functions and
integrate them
• plan, organize, lead, and
control
ABME 10. Foundations of Entrepreneurship
 • Becoming the best
that one can
compete with itself
not with others

• Uses the innovation process of idea

generation, incubation and implementation,
to be better than yesterday.
• It’s about making oneself obsolete everyday.
ABME 10. Foundations of Entrepreneurship
 • Can be developed
regardless of age,
gender, social status,
economic status, etc.

• Starts with the discovery of the self and willingness

to become the best one can be.

• It is also about helping others become the best

they can be.

ABME 10. Foundations of Entrepreneurship

ENTREPRENEURIAL SPIRIT

• Seeing things
differently.

• Then
continuously
ask, “why
not?”

ABME 10. Foundations of Entrepreneurship

 Summary

• Entrepreneurship is not just owning a business

• It is creating value, taking risk, earning profits
or helping others sustainably
• It is about seeking opportunity and addressing
it creatively and innovatively
• Entrepreneurship is a mindset that anyone can
develop regardless of the setting.