VISION

• Your vision is your mission in life — your vision is where you‘re

going, not how you‘re going to get there.
• Entrepreneurs know where they want to go.
• They have a vision or concept of what their firm can be.
• In many cases, this vision develops over time as the individual
begins to realize what the firm is and what it can become.
o Steve Jobs wanted his firm to provide microcomputers
that could be used by everyone.
o This helped make Apple a major competitor in the firm.
 MISSION
• If your mission is in line with your vision, then
regardless of what detours or setbacks you face
along the way, neither will change.
• An entrepreneur must keep their vision alive and
make it their life‘s mission.
Most Successful Business People In The 21st Century -
World Famous Entrepreneurs
• Although it appears that each of these men
and women only has the commonality of
entrepreneurship, there are similarities like:
1. Attitude
2. Opportunity
3. Work
 ATTITUDE
• ―Attitude is everything.‖
• Entrepreneurs get begrudging about their work, their
circumstances, their opportunities, their everything.
• They sort of jump on the negative train where it‘s easy to
complain about what they do not have, what is wrong with their
lives, and tear down the things around them.
• With the SUCCESSFUL ENTREPRENEUR MINDSET,
this is just the OPPOSITE.
 OPPORTUNITY
• Entrepreneurs look for the opportunity in every
situation.
• They immediately begin thinking about how
they can improve circumstances and situations.
• They consider marketability, profitability, and
overall opportunity.
 OPPORTUNITY
• Entrepreneurs look for the opportunity in every
situation.
• They immediately begin thinking about how
they can improve circumstances and situations.
• They consider marketability, profitability, and
overall opportunity.
 WORK

• Entrepreneurs recognize the need to work.

• Success is achieved by hard, continuous
work.
 PHILIPPINES: ENTREPRENEURIAL MIND-
SET IN THE 21ST CENTURY
• Filipinos‘ attitude towards entrepreneurship is very
bullish.
• 8 out of 10 adult Filipinos consider starting a
business as a desirable career choice.
• There‘s no sociodemographic barriers.
• The younger adults are the most bullish on their
outlook.
• There‘s no gender hindrance to entrepreneurship.
 THE ENTREPRENEURSHIP OF THE 21ST
CENTURY
• Entrepreneurs build their fortunes on the internet.
o Mark Zuckerberg: Facebook
oLarry Page: Google
oPeter Thiel: Paypal
The lesson that can be learned from these Internet
billionaires is that you don‘t have to reinvent the
wheel to get wealthy.
oOnline multiply shops and other online stores.
 THE ENTREPRENEURSHIP OF THE 21ST
CENTURY(CONT)
• The business of the 21st Century: NETWORK
MARKETING
o It is not about recruit-recruit or selling the products.
oIt is about turning people from employees to
entrepreneurs.
 THE MAJOR SCHOOLS OF
ENTREPRENEURIAL THOUGHT
• School of thought – is a body of belief, literature
or theory that is accepted as authoritative by
some group of scholars or writers.
• Two views of entrepreneurial thought
a) Macro – ‗wide scale‘ perspective
b) Micro – ‗small scale‘ perspective
 MACRO VIEW
• Presents a broad array of factors that
relate to success failure in
contemporary entrepreneurial
ventures.
 MACRO VIEW(CONT)

• School of Thought (Macro View)

1. Social and Cultural
2. Financial/Capital
3. Displacement
4. Ecological
 SOCIAL AND CULTURAL SCHOOL OF
THOUGHT
 External factors and surrounding conditions and
influences that affect a potential entrepreneur's lifestyle.
 Can either be positive or negative forces in the molding
of entrepreneurial desires.
 Focuses on institutions, values and mores to form a
socio-political framework.
 Atmosphere of friends and relatives can also contribute.
 FINANCIAL OR CAPITAL SCHOOL OF
THOUGHT
 Primarily refers to the search for seed and growth
capital.
 Financial Management
 Vital to an entrepreneur's development since decisions
involving finances occur at every major point in the
venture process.
 DISPLACEMENT SCHOOL OF
THOUGHT
 Group Phenomena
 It holds that the group affects or eliminate

certain factors that project the individual into

an entrepreneurial venture.
 As Ronstadt has noted, individuals will not

pursue a venture unless they are prevented or

displaced from doing other activities.
 DISPLACEMENT SCHOOL OF
THOUGHT(CONT)
 Three major types of displacement:
1. Political Displacement
2. Cultural Displacement
3. Economic Displacement
 DISPLACEMENT SCHOOL OF
THOUGHT(CONT)
1. Political displacement:- Caused by factors
ranging from an entire political regime that rejects
free enterprise (international environment) to
governmental regulations and policies that limit or
redirect certain industries.
 DISPLACEMENT SCHOOL OF
THOUGHT(CONT)
2. Cultural displacement- Deals with social groups
precluded from professional fields.
 Examples of factors that figure in the minority

experience
 Ethnic background, Religion, Race and Sex

 Increasingly this experience will turn various individuals

from standard business professions and towards

entrepreneurial ventures.
 DISPLACEMENT SCHOOL OF
THOUGHT(CONT)
 3. Economic displacement - Concerned with the
economic variations of recession and depression.
 Job loss, capital shrinkage or simply bad times
can affect venture development and reduction.
 ECOLOGICAL SCHOOL OF
THOUGHT(CONT)
 Comes from the growing perception of the natural
world and our relationship to it as entrepreneurs.
 Based on the idea that everything is related with
everything everywhere.
 Based on the fields of green economics and
ecological economics.
 MICRO VIEW
• Focuses on the individual
• Has the ability, or control, to direct or
adjust the outcome of each major
influence.
• Concentrates on specifics from the
inside looking out
 MICRO VIEW(CONT)
• Schools of thought(Micro View)
1. Entrepreneurial trait school of thought
2. Venture opportunity school of thought
3. Strategic formulation school of thought
 ENTREPRENEURIAL TRAIT
SCHOOL OF THOUGHT
• Four factors to be a successful entrepreneur
- Achievement
- Creativity
- Determination
- Technical Knowledge
 ENTREPRENEURIAL TRAIT
SCHOOL OF THOUGHT(CONT)
• Aids for entrepreneurial development
- New programs
- New educational development
 ENTREPRENEURIAL TRAIT
SCHOOL OF THOUGHT(CONT)
Family Development
- Nurture
- Support
VENTURE OPPORTUNITY SCHOOL
OF THOUGHT
• Focuses on the opportunity aspect of
venture development
• Creativity and market awareness are
essential for this school
• Developing the right idea at the right
time for the right market niche is the
key to entrepreneurial success
VENTURE OPPORTUNITY SCHOOL
OF THOUGHT(CONT)
• Important interest areas
- Development of concepts
- Search for idea sources
- Implementation of venture opportunities
VENTURE OPPORTUNITY SCHOOL
OF THOUGHT(CONT)
• Corridor principle
- New pathways or opportunities will arise
that lead entrepreneurs in different
directions
- Ability to recognize opportunities and
implement the necessary steps for
action is a key factor
 STRATEGIC FORMULATION
SCHOOL OF THOUGHT
• Entrepreneurs ability to target unique
markets, with a unique strategy is the
ultimate determinant of success.
 MICRO VIEW
• Focuses on the individual
• Has the ability, or control, to direct or
adjust the outcome of each major
influence.
• Concentrates on specifics from the
inside looking out
 OUR ENTREPRENEURIAL ECONOMY
 Entrepreneurship is the symbol of business tenacity and
achievement.
 Entrepreneurs are the pioneers of today‘s business successes.
- sense of opportunity
- drive to innovate
- capacity for accomplishment.
 Younger generation has been referred to as Generation X (X-ed
out of traditional opportunities).
 Young entrepreneurs have become known as Generation E for
entrepreneurship.
OUR ENTREPRENEURIAL ECONOMY(CONT)
 Entrepreneurs continues to be essential contributors to economic growth
by:
- leadership - management
-innovation -research & development effectiveness
-job creation -competitiveness
-productivity & formation of new industry
 Two perspectives in which entrepreneurial firms operate:
- statistical: providing actual aggregate numbers to emphasise the
importance of small firms in our economy.
- - Examines some of trends in entrepreneurial research and education
so as to reflect the emerging importance of entrepreneurship
in academic developments.
OUR ENTREPRENEURIAL ECONOMY(CONT)
 Entrepreneurial firms are the essential mechanism
by which millions enter the economic and social
mainstream of society.

- small business enable millions of people to find

prosperity for themselves and their families.
- plays a positive role in delivering health, education
and welfare services efficiently.
 YOUTH ENTREPRENEURSHIP
 Entrepreneurs are the backbone of our economy.
 Philippines is an entrepreneurial country.
• Where small and medium-sized enterprises (SME),
including micro- enterprises, account for 99 percent of all
business establishments and 60 percent of the exporting
firms in the Philippines.
• According to the Department of Trade and Industry,
SME‘s currently employ about 55 percent of the Philippine
labor force and contribute 30 percent to total domestic
sales volume.
 ISSUES IN THE ENTREPRENEURIAL ECONOMY
Based on, Mr. Jose Ma. Concepcion III of his journal we can identify the
issues or problems that Filipino entrepreneurs encounter today.
 Inadequate access to technology.
 Financing captial.
 Marketing advice.
 Logistical problems in setting up and maintaining their competitiveness in
their community.
Furthermore, a recent study by the Center for Asia Pacific Studies reveals, ―out
of every 100 children enrolled every year, 66 will complete elementary
education, 42 will finish high school and only 14 will earn a college degree.‖
Another study is by Smart Communications where ―only 7.7% of graduates get
employed‖.
 IMPORTANCE OF THE ENTREPRENEURIAL ECONOMY
It is a crucial part of the Philippines of developing an innovative and
entrepreneurial culture.

 Directly leads to more business

 More job opportunities and better quality of life.

Offering an alternative means of achieving both financial and personal

independence. Where encouraging young people to consider business
ownership as a viable option.

 Create employment opportunities, through self-employment and by

providing additional employment opportunities.
 Give young people a sense of meaning and purpose.
 Promote innovation and resilience in young people.
 Help young people develop life skills.
 PHILIPPINE GOVERNMENT AND
ENTREPRENEURSHIP
To engage the young in economic development
and nation building, the philippine government
has instituted measures through policies and
programs. Where former president Gloria
Macapagal Arroyo has issued E.O. 470 in 2005,
―Establishing the Youth Entrepreneurship
Program‖.
 PHILIPPINE GOVERNMENT AND
ENTREPRENEURSHIP(CONT)
Vial provision of this order states that:
―Section 1. Approval of the Youth Entrepreneurship Program (YEP). The YEP as
formulated by the NYC is hereby approved for implementation. The Program,
which is envisioned to develop the entrepreneurial skills of the youth hereby
contribute to nation-building. Shall the following components:
a. Entrepreneurship Education
b. Credit Assitance and Lending
c. Role Modeling and Mentoring
d. Business Plan Development and Training
e. Market Syndication and Linkaging
f. Business information Network
 EXPLORING NEW IDEAS AND
OPPORTUNITIES
• Sources of innovative 5. Industry ad market
ideas changes
1. Trends 6. Demographics
2. Unexpected 7. Perceptual Changes
occurrences 8. Knowledge-based
3. Incongruities concepts
4. Process needs
EXPLORING NEW IDEAS AND OPPORTUNITIES
 DAWN OF THE 21ST CENTURY
Since the mid 20th century, Computers have been developed and was poised to
revolutionize information exchange all over the world. Late 20 th century gave us
another revolution, and that was the invention of the Internet.
 WINDOW OF OPPORTUNITY
With the Internet paving the way of instant source of information, many people have
been using the internet as a source of income as well, considering the traffic
(number of people accessing a certain portal) and the variety of market all over
the world. With that in mind, many internet entrepreneurs like: Mark Zuckerberg
(Facebook), Jack Dorsey (Twitter), Larry Page and Sergey Brin (Google) makes
billions of money because of their innovation of Information Management. They
might not be considered as household names, but their ―Instant Classic‖
creations surely revolutionized the transferring of information and a source of
money as well.
 WHAT THEY REALLY LOOK LIKE
WHAT WE THINK THEY LOOK LIKE WHAT THEY ACTUALLY LOOK LIKE

Dustin Moskovitz (age 27)

Current Net Worth: $1.2 billion
ENTREPRENEURS OF 21ST CENTURY
Mark Zuckerberg (age 27) Co-founded Facebook in
2004, Current Net Worth: $17.5 billion

Jack Dorsey (age 35) Co-founded Twitter Current Net

Worth: $330 million
EXPLORED NEW IDEAS, MAKE BILLIONS OF
MONEY