they are skeptical about changes to be made in the organization. they don’t initiate but follow only after they are satisfied.

• someone who plans, organizes and put together all the resources required to bring a new enterprise into existence and to run and manage it on a long term basis.

who needs a business plan

• The life you live is the result of the many choices you make in life • Your decision, not your conditions determine your destiny

an organization involved in the trade of goods, services, or both to consumers in exchange of money

this means that one of the benefits an enterpreneur gets is to develop his managerial skills

an idealized abstraction of the products or services to be offered to a preferred a market

• All it takes to have mastery of self is to dream, believe and achieve. • Vision must be accompanied by passion and action towards goal.

MASTER SELF A-G

It covers the appropriate legal form of organization and structure, hiring projection, adding and retaining key employees, licences and certifications and working with outside professional.

this means that not only the life of the entrepreneur is improved but also the society where the business is located

it is the process of starting one’s own new and small business, who said it?

makes and breaks competing participants in any industry; new scientific and technological discoveries often lead to the commercialization of new products- this can be in the form of machineries and equipment, new system, new processes and new product. • consider new technology and development. • R&D is important in business

• a document specifying business details prepared by an entrepreneur in preparation for the opening a new business. • a written description of a business’s future, a document that tells what the entrepreneur plans to do and how to do it. • It represents the entrepreneur’s map that points out where he is at a particular moment, and where he wants his enterprise to be in the future.

• Study hard and get good grades • If and when possible, go corporate • Learn other skills • Save,pay yourself first • Use your savings to start up a business

they are those who live on the labor of others. they are die-hard conservatives even ready to suffer the loss of business

the entrepreneur can be employed as a researcher by an enterprise

which means that because of enterpreneurship many organizations will exist

the demographics and socio-cultural conditions, structure, social status and dynamics of the population: people’s belief, tastes, mores, customs and traditions.

ENTREPRENEURSHIP INVOLVES?

governance system of the country or the local area, includes all the laws, rules and regulations on allowable and disallowable business practices; largely responsible for peace and order; the main builder of infrastructures; provider of logistical access and determinants of cost of doing business. Needs to consider the industrial and manufacturing policies in the locality

the enterpreneuer has big bsuiness ideas and he does not stop improving and thinking of new worthwhile ideas for his business

TYPES OF ENTERPRENEUR

this means that enterpreneurship can lift up the economic status of an individual

which means he can classify and seize it

a graduate of an entrepreneurship can use his knwoledge in teaching

the enterpreneuer constantlylooks for new ideas, thus he needs to be creative

an enterpreneuer must have the charisma to be obeyed by his employyes

he will pursure things to get done regardless of challenges

This starts by describing the product and customer, setting prices, identifying place or channels of distribution and the promotions.

• It comes first in your plan but it does not mean that you should write it first as well. • Actually, all parts of the paper must be considered before writing a convincing summary • It should be one or two pages only. • It includes the vision, mission statements, a brief statement of the plans and goals a quick look at the company d its organization, an outline of the strategy and the highlights of the financial status and needs.

the enterpreneur needs to gamble but wise enough to offset

• it presents opportunities that arise from how the different industry participants interacts, bargain and transact business with one another • -consider industry list from Philippine standard Industrial Classification which contain all the Philippine products or Security and Exchange Commission(SEC) and Bureau of Investment • consider possible inter-linkage with locally existing industries

WHAT ARE THE RISK AND UNCERTAINTY?

in setting prices there are different factors to consider , sets price carefully.

doing things even before being told

GIVE THE PERSONALITY FACTORS

they are those who initiate changes and drive social innovation and transformation in the various fields such as education, health, human rights, environemnt and enterprise development

they are those who always make new things by thinking of new ideas. they have the ability to think newer, better and more economical ideas

TYPES OF ORGANIZATION

THE PARTS OF THE BUSINESS PLAN

he can retain good relations with other people

• To live a life in fear is to live a life half-lived

MACRO ENVIRONMENTAL SOURCES

placement strategy about the coverage, control and cost

an enterpreneur must be firm in making decisions

all activities to bring the product to the customer. It include advertisements, trade shows, telemarketing calls, billboards,etc.

an enterpreneuer can control a situation by making things happen or by preparing for possible future problems

enterpreneurship is an economic activity beacuse it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources

FACTORS AFFECTING ENTERPRENEURSHIP

Involves the creation process, requires the devotion of the necessary time and effort, assumes the accompanying financial, social risks and receives the resulting rewards of monetary and personal satisfaction and independence

means tht he can entice people to buy eveny they don’t want to

the eneterpreneur must have the ability to be the first to see business chances

the enterpreneur can be compensated by his profit coming from the operation

they are those who don’t create new tgings but only follow the ideas of other entrepreneuers.

refers to the features and benefits of what you have to offer to customers. Break out the core product from the actual product.

he makes plans before doing things and does not fail to monitor it

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.

the entrepreneurship graduate can apply salesman

it includes political, climate, legal system, economic and social conditions and market situations

driven by demand and supply forces, the income level and the purchasing power of its people; the competitiveness or uncompetiveness of its enterprise, business cycles of its industries. • consider import and export figures • The study of import figures could inspire a business involving local substitute. Export figures on the other hand could inspire a business involving development of local resources.

SOURCES OF OPPORTUNITIES

RELEVANCE OF ENTERPRENEURSHIP TO AN ORGANIZATION

• Is not time bound • Intelligence is measured by conventional ways, is not the only determinant of success

business owned and managed by a single person

- it can be gleaned from the increased or decreased demand as well as higher and lower supply - consider the general local investment climate

• New products or services being offered • New methods or technologies being employed • New markets being targeted • Expansion to maximize market coverage or ensure product control

an enterpreneuer must have a convincing power

• Surround yourself with positive and believing people • Flood yourself with positive and believing people

the desired people to serve with the product

CORE COMPETENCIES IN ENTERPRENEURSHIP

groupings of two or more person carry-on as a co-owner of a business for profit

• Vision without action is just dream. Action without vision is just past time. Vision with action can change the world. • Learn the principle of starting small • Break down your big dream into manageable bits

which means that he is willing to gamble but he will calculate it first

the entrepreneur being expert in the field can be employed as

• Consolidates the monetary impact of the revenues expected from the marketing efforts and strategies, the cost and expenses incurred in producing the product and services as well as the expenses in running the organization. • If revenues are greater than expense, the business makes a profit.

• The word “entrepreneur” was derived from the French verb enterprendre, which means

What are the common competencies in Entrepreneurship?

an enterpreneur has the courage to pursue business ideas

• Is concern on the production of your business. • Concern on how you buy, build and prepare the product or services. • It includes all sourcing raw materials, acquiring facilities and shipping off the finished goods. • All tasks, equipment and materials must be presented in table form. • Descriptions, features,cost and function of the equipment must be presented • Gantt chart will be presented in this part

CAREER OPPORTUNITIES OF ENTREPRENEURSHIP

includes all natural resources and the ecosystem that defines the habitat of man, animals and plants • consider local raw materials and resources. Natural resources with particular potential for processing.

• is a term referring to the basic idea around which your business. • The strategy and the specific actions to implement. • The product and services and their competitive advantage • The market that will be pursued • The background of management and key employees • The financing needs

artificial legal person