ENTREPRENEURSHIP

NATURE AND CONCEPT

Prepared by:
Mrs. Teresita B. Urbano,LPT
 ENTREPRENEUR
- originates from the French word ”entreprendre” means “to undertake”
- people who own, operate, and take the risk of a business venture

ENTREPRENEURSHIP
- The art of observing correct practices in managing and operating a self-
owned wealth-creating business enterprise by providing goods and
services that are valuable to the customers
 SMALL BUSINESS
- refers to a business or enterprise that correctly adopts and practices the principles
of entrepreneurship
- owned by one person with a limited workforce not more than 20 persons

ORDINARY SMALL BUSINESS

- Pertains to business enterprise managed and operated by an owner
who is not an advocate and does not practice the concepts and
principles of entrepreneurship
 EMPLOYEES VS ENTREPRENEURS

Entrepreneurs assume risk. This make them different from

employees, who are people who work for someone else. Both may
make decisions, but only the entrepreneur is directly affected by the
consequences of those decisions.
SALIENT FEATURES of
ENTREPRENEURSHIP
 Providing values
to customers

Opening and
Wealth-creating
managing self-
venture
owned business
ENTREPRENEURSHIP

Art of correct Risk taking

practices venture
Entrepreneurship is an art of
correct practices
- It continuously grows, develops, improves, and expands; the change does
not stop
- As an art, entrepreneurship is closely related to creativity. By creativity, there
is constant change or evolution that contributes towards the enhancement of
the enterprises.
 Entrepreneurship is a Wealth-Creating
Venture

- Entrepreneurship is operating within the concepts of wealth creation

rather than profit generation. ( Wealth is defined as the abundance of
money, property, or possession)
Entrepreneurship Provides Valuable
Goods and Services
- Valuable goods and services highly satisfy the target buyers in terms of
quality and prices
- The entrepreneur convinces the consumers that they gain more benefits than
they gain more benefits than what they pay for the goods and services
 Entrepreneurship Entails
Opening and Managing the Self-
owned Enterprise
- A business is considered self-owned when the person managing its
daily is also its owners
Entrepreneurship is a Risk-
taking Venture
- Once an entrepreneurial venture is born because of new ideas or
opportunities, risk comes simultaneously with the venture.