- It is a proactive process of developing a business venture to make a profit. — is the act of creating a business or businesses while building and scaling it to generate a profit.

(not one step ahead of the situation but 5 or 10 times step ahead)

The word "_____" has a French origin and was coined from the words entre meaning "between", , and prende meaning "to take" - is a unique individual who has the innate ability and extraordinary dedication to establish and manage a business, acknowledging all the risks and repeating its rewards.

The word "entrepreneurship" has a French origin and was coined from the words ___ meaning "between", , and ___ meaning "to take"

- is a person who sets up a business with the aim to make a profit. - the meaning of entrepreneurship involves an ___ who takes action to make a change in the world.

persons are, simply put, not comfortable with the routines of a desk job. They do not want to conform to a fixed working schedule. They want to do things in their own way.

- In this level, entrepreneurs feel the need to set up and ask some help from the people around them. They delegate or appoint and hire potential employees to do the work.

- Entrepreneurs in this level already enjoy seeing their employees grow, stepping up, and producing great results with minimal supervision.

- look for more opportunities for their business to grow.

- based on their experience, now aim for quality and excellence in their work. They have fully learned, and continue to practice, the 4 step process of thinking, starting with idealization, visualization, verbalization, and materialization.

The True Entrepreneur - based on their experience, now aim for quality and excellence in their work. They have fully learned, and continue to practice, the 4 step process of thinking, starting with __

• They put technology at the core of their business • They have skills and knowledge

• They are in a large company who are tasked to think, establish, and run a new, big project. • They are still employees

They hop from one company to another to act as the innovation champion.

• They explore opportunities that have a positive impact on their community. • Be part of the change

Father of Social Entrepreneurship - Owner of Ashoka Asoka: Out of School Youth

Co-founder and president of Gandang Kalikasan Inc., makers of Human Nature. - Gandang Kalikasan Inc. - Women empowerment - Use local resources - Strengthen Philippine economy

• Entrepreneurs are reactive rather than passive.

• Entrepreneurs are innovation champions.

• Entrepreneurs will not be successful if they do not take risks.

Entrepreneurs have a talent for recognizing an opportunity even by using the macro level data only.

• Soft skills are one of the most important competencies of an entrepreneur.

• A networker knows the key people to connect with.

• Entrepreneurs always have a decision about their business.

• The minds of entrepreneurs should have a balance between the analytical and creative side.

They do not stop improving and thinking of new and worthwhile ideas for their businesses.

Successful entrepreneurs always have the heart of a leader.

• Entrepreneurs know how to use all forms of communication to effectively share ideas and address certain concerns with their customers or employees.

Entrepreneurs are experts in their chosen business, they are tactical and are very keen with details.

• Entrepreneurs possess critical thinking skills and look at problems as challenges or puzzles that they need to solve.

• Key economic driver, • Increase the level of knowledge competence, and improve the quality of life. • Alternative career path.

THE ENTREPRENEURIAL PROCESS

• Entrepreneurs at this point take note of interesting trends in their environment • Consumers are reliable sources opportunity information

MAJOR SOURCES:

• A comprehensive paper that details the marketing, operational, human resource, financial, strategic direction, and tactics or the business

• A mandatory in the entrepreneurial process to calculate the resources needed to establish the business and compare against the entrepreneurs current resources • CAUTION and ALLOWANCE

• This is the part where entrepreneurs should use the resources allocated for the new venture. • The entrepreneur should have a control and monitoring system to serve as check and balance.

• It clearly portrays the trends, activities, and development • It identifies the expected threats and opportunities existing in the environment • It points out the possible factors that will determine the success of the business venture

• The entrepreneur must consider the obvious climatic condition of an area where he/she intends to open the business to determine whether it can withstand or is fit to the climatic condition in the local area.

He/She must evaluate if the available raw materials to be used for the proposed business are sufficient for a long-term operation.

The entrepreneur must ensure that his/her business contributes to the preservation and not the destruction of the ecological system of the local community and our country in general.

• The critical evaluation and thorough study of the environment where the business operates.