Course Description
ELEC 101
ENTREPRENEURIAL MIND
This Course provides an overview of the entrepreneurial process that will teach you to identify,
assess, shape, and act on opportunities in a variety of contexts, settings and organization.
Course Outcome
On the completion of the course, student is expected to be able to do the following:
• Understand the characteristics, types, and advantages of entrepreneurship.
• Identify and appraise the Contributions and Capital Resources of Entrepreneurs.
• Develop strategic and tactical technique in addressing vital management issues.
• Recognize and develop strategies in dealing different kinds of risk, uncertainties and liability in
venturing into Entrepreneurship.
• Identify different kinds of Entrepreneurial Leadership Styles, types of Management and
management styles according to the needs of an Organization.
• Identify and understand the factors that must be consider of an Entrepreneur Going Global
ELECTIVE 101 – ENTREPRENEURIAL MINDS Page 1
Module 1 – The ENTREPRENEUR
Lesson 1: Characteristics of an Entrepreneur
In this lesson, challenge yourself to:
Determine the meaning of entrepreneur
Identify the characteristics of an entrepreneur
Activity
The Mind Map Concept
ENTREPRENEUR
ANALYSIS
Given the nature of the activity, what qualities do you believe a successful entrepreneur should
possess? Explain each qualities you choose.
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Entrepreneur is a word borrowed from the French word entreprendre meaning ‘one who
undertakes “– that is a “manager”. In fact, the word entrepreneur was shaped probably from celui qui
entreprend, which loosely translated as those who get things done. The capacity and willingness to
develop, organize and manage a business venture along with any of its risks in order to make a profit is an
entrepreneur. One of the best examples of entrepreneurship is starting of new business. In economic,
entrepreneurship combined with land, labor, natural resources and capital can produce profit.
Entrepreneurial spirit is characterized by innovation and risk taking, and is an essential part of a nation’s
ability to succeed in an ever changing and increasingly competitive global marketplace.
Entrepreneurs have the same character traits as leaders, similar to the early great man theories of
leadership. Studying the entrepreneurial personality found that certain traits seem to be associated with
entrepreneurs.
• The entrepreneur is motivated by an overwhelming need for achievement and strong urge to build.
• The entrepreneurs are tough, pragmatic people driven by needs of independence and achievement.
• Entrepreneurs have keen insights, prone to brainstorms, deceptions, ingeniousness and
resourcefulness.
• Entrepreneurs are cunning, opportunistic, creative and unsentimental.
• Entrepreneurs exhibit extreme optimism in their decision-making processes.
• Entrepreneurs are prone to over confidence and over generalizations.
• Entrepreneurs are Innovator.
• Entrepreneurs are Calculating inventor.
• Over optimistic promoter.
• Organization builder.
• An entrepreneur is usually
• A positive thinker and a decision maker
• An entrepreneur needs inspiration, motivation and sensibility.
Entrepreneurship is about taking risk. The behavior of the entrepreneur reflects a kind of person willing to
put his or her career and financial security on the line and take risks in the name of an idea, spending much
time as well as capital on an uncertain venture.
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APPLICATION
After discussing the characteristics of an entrepreneur, consider which of those characteristics might
describe you. Think about how you may have demonstrated some of the entrepreneurial characteristics
through your schoolwork, extracurricular activities, or part-time job. Record your personal entrepreneurial
characteristics in the table below.
Personal Entrepreneurial Characteristic
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