CONCEPT OF ENTREPRENEURSHIP

Who is an Entrepreneur?
Sees Opportunity
Makes Things Happen
Does Things not Generally Done in the Ordinary Course Routine
Entrepreneur an individual who establishes and manages a business for the principal purposes of profit and
growthcharacterized principally by innovative behavior, and employs strategic management practices in the business.
WHY GO INTO BUSINESS?
Recognition
Profits
Hobby
Way of practicing profession
Security
Generate employment
Helping others
Has capital

WHY NOT GO INTO BUSINESS?
Fear of failure
Lack of capital
No idea about business
No talent
Satisfied being an employee
Lazy
Doesnt like hard work

Risks and Trials
The Risk of Failure
Unpredictable Business Conditions
Long Hours of Hard Work
Unwanted Responsibilities

PERSONAL ENTREPRENURIAL CHARACTERISTICS (PECs)

ACHIEVEMENT CLUSTER

OPPORTUNITY SEEKING
Sees and acts on new business opportunities
Seizes unusual opportunities to obtain financing,
equipment, land, workspace, assistance, etc.
PERSISTENCE
Takes repeated or different actions to
overcome an obstacle
Makes personal sacrifice or expends extraordinary
efforts to complete a job
Sticks with judgment in the face of opposition or
early lack of success
COMMITMENT TO WORK
Accepts full responsibility for problems in completing a job for customers
Pitches in with workers, or their place to get the job done. Expresses a concern for satisfying a customer
DEMAND FOR QUALITY AND EFFICIENCY
Acts to do something that meets or beats existing standards of excellence or improve on past performance
Strives to do things, faster and cheaper
RISK TAKING
Takes what he or she perceives to be moderate risks
States a preference for situations that involve moderate risks

ARNEL C. SABUCO JR
Teacher I
Ilocos Norte Agricultural College
Pasuquin, Ilocos Norte
PERSONAL ENTREPRENURIAL CHARACTERISTICS (PECs)

PLANNING CLUSTER
GOAL SETTING
Sets clear and specific short-term objectives
Sets clear and long term goals
INFORMATION SEEKING
Personally seeks information on clients, suppliers and/or
competitors
Uses contacts or information networks to obtain useful
information
SYSTEMATIC PLANNING AND MONITORING
Develops and uses logical step-by-step plans to reach goals
Evaluates alternatives
Monitors progress and switches to alternative strategies
when necessary to achieve goals
PERSUASION AND NETWORKING
Uses deliberate strategies to influence or persuade others
Uses business and personal contacts to accomplish own
objectives
SELF-CONFIDENCE
Has strong belief in self and own abilities
Expresses confidence in own ability to complete a difficult
task or meet a challenge

Revenue Streams
Fashion (Garments, Accessories and Designs)
Homestyle and Living (Home Furnishing, Gifts, Toys,
Housewares and Holiday Dcor)
Construction Materials, Engineering Consulting and
Contracting Services
Organic Herbal and Natural Products
Processed Food and Beverage (Commercial, Halal)
Marine Products (Food and Non-Food)
Electronics
ICT
Motor Vehicle (Parts, Accessories and Assembly)
Mineral Products
Logistics Services