1* this means that one of the benefits an entrepreneur gets is to develop his managerial skills.
Development of Managerial Capabilities
2 * which means that because of entrepreneurship many organizations will exist.
Creation of Organizations
3 * this means that entrepreneurship can lift up the economic status of an individual.
Improving Standard of Living
4 * this means that not only the life of the entrepreneur is improved but also the society where the business is located.
Means of Economic Development
5 * The word “entrepreneur” was derived from the French verb enterprendre
, which means “to undertake.”
* This is pinpointing to those who “undertake” the risk of enterprise.
* The enterprise is created by an entrepreneur and the process is called “Entrepreneurship.”
* They are willing to take the risks and generate unique ideas that can provide profitable solutions to the needs of the market and the society.
6Personality Factors
initiative, proactive, problem solver, perseverance, persuasion, a planer, risk taker.
7 * doing things even before being told.
Initiative
8 * which means he can classify opportunities and seize it.
Proactive
9 * which means he can retain good relations with other people.
Problem Solver
10 * meaning he will pursue things to get done regardless of challenges.
Perseverance
11 * means that he can entice people to buy even if they don’t want to.
Persuasion
12 * he makes plans before doing things and does not fail to monitor it.
A Planner
13 * which means that he is willing to gamble but he will calculate it first.
Risk-taker
Environmental Factors
14 * which include political, climate, legal system, economic and social conditions and market situations.
Environmental Factors
Competencies and Types
Common Competencies
15 * an entrepreneur must be firm in making decisions.
Decisive
16 * an entrepreneur must have a convincing power.
Communicator
17 * an entrepreneur must have the charisma to be obeyed by his employees.
Leader
18 * an entrepreneur must have the ability to be the first to see business chances.
Opportunity seeker
19 * an entrepreneur can control a situation by making things happen or by preparing for possible future problems.
Proactive
20 * an entrepreneur has the courage to pursue business ideas.
Risk Taker
21 * the entrepreneur has big business ideas and he does not stop improving and thinking of new worthwhile ideas for his business.
Innovative
Core Competencies
22 * involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.
Economic and Dynamic Activity
23 * The entrepreneur constantly looks for new ideas, thus he needs to be creative.
Innovative
24 * The entrepreneur can be compensated by his profit coming from the operation.
Profit Potential
25 * The entrepreneur needs to gamble but wise enough to offset the risk.
Risk bearing
Types of Entrepreneurs
26 * They are those who always make new things by thinking of new ideas.
Innovative Entrepreneurs
27 * They are those who don’t create new things but only follow the ideas of other entrepreneurs.
Imitating Entrepreneurs
28 * They are skeptical about changes to be made in the organization.
Fabian Entrepreneurs
29 * They are those who live on the labor of others.
Drone Entrepreneurs
30 * They are those who initiate changes and drive social innovation and transformation in the various fields.
Social Entrepreneurs
Career Opportunities
31 * with the expertise of in the field of entrepreneurship, he can be a very good source of advices to other entrepreneurs and would be business men.
Business Consultant
32 * a graduate of an entrepreneurship can use his knowledge in teaching.
Teacher
33 * the entrepreneur can be employed as a researcher by an enterprise.
Researcher
34 * the entrepreneurship graduate can apply as a salesman.
Sales
35 * the entrepreneur being expert in the field, can be employed as a business reporter.
Business Reporter