Entrepreneurship

LESSONE ONE: INTRODUCTION TO ENTREPRENEURSHIP

Second Semester: First Quarter (Midterms) | SY: 2022-2023 Made by: Raiannemaxyne T. Abiad
Subject Teacher: Mr. Jimenez

TOPIC OUTLINE o New Product

A. Introduction to Entrepreneurship o New Production Method
i. Key Concepts o New Market
➢ Joseph Schumpeter o New Source of Raw Materials
➢ Arthur H. Cole o New Organization or Industry
➢ Peter Drucker
ii. Underlying Entrepreneurial Principles ARTHUR H. COLE
iii. Core Competencies
➢ Achieving Behaviors • Entrepreneurship = Purposeful Activity and
➢ Planning Behaviors Creation of New Organizations.
➢ Power Behaviors
B. Developing Entrepreneurial Mindset PETER DRUCKER
i. Entrepreneurial Learning Styles
➢ Imagining Style • Entrepreneurship = Discipline can be learned
➢ Analyzing Style and practiced by everyone.
➢ Deciding Style
➢ Initiating Style UNDERLYING ENTREPRENEURIAL
➢ Balanced Style PRINCIPLES
ii. Opportunity
a. Having a vision
➢ Sources of Opportunity
b. Providing innovative products and services
➢ Opportunity-Seeking
➢ Opportunity Screening c. Managing effectively
➢ Opportunity Seizing d. Taking risks and opportunities
C. Enterprise Life Cycle e. Making informed decisions
D. Entrepreneurial Leaders
E. Position Statement CORE COMPETENCIES
• An entrepreneur’s traits or personal attributes
INTRODUCTION TO rather than physical assets or financial
ENTREPRENEURSHIP resources.
• EMPRETEC Programme of the United Nations
WHAT IS AN ENTREPRENEUR? Conference on Trade and Development
(UNCTAD).
• Came from the French word "Entreprendre”
• Ten (10) Key Competencies for Entrepreneurs.
that means "to undertake”.
• Individuals who have initiated the
establishment of a business enterprise.
• Individuals who have generated substantial
value and profits from innovations in a very
short period. (Joseph Schumpeter)

JOSEPH SCHUMPETER

• Entrepreneurs = Innovation (introduction of

new factors in production).

1
RAIANNE ABIAD
 ACHIEVING PLANNING POWER OPPORTUNITY
BEHAVIORS BEHAVIORS BEHAVIORS
Opportunity- Goal-Setting Persuasion and • An idea that has the potential to be developed
Seeking and Networking into a business venture.
Information
Initiative
Seeking Independence
SOURCES OF OPPORTUNITY
Persistence and Self-
Systematic
Confidence 1. The Unexpected
Fulfilling Planning and
Commitments Monitoring 2. Industry and Market Disparities
3. Process Vulnerabilities or Needs
Demanding
4. Incongruibles
Quality and
Efficiency 5. Demographic Shifts
6. Changes in Perception
Taking Calculated 7. New Knowledge
Risks
OPPORTUNITY-SEEKING
DEVELOPING ENTREPRENEURIAL
• First Step and the difficult step.
MINDSET
• Listen to the market.
ENTREPRENEURIAL LEARNING STYLES • Feel the competition.
• Look at the trends.
1. Imagining Style:
• Entrepreneurs prefer concrete OPPORTUNITY SCREENING
experiences and tend to use varying
thinking processes to generate multiple • Be picky with the opportunities.
solutions and ideas. • The 12 Rs of Opportunity Screening:
2. Analyzing Style: 1. Relevance
• Entrepreneurs prefer taking in abstract 2. Resonance
information through reflection and 3. Reinforcement
enjoy logical problem solving and 4. Incongruibles
theory formulation. 5. Revenues
3. Deciding Style: 6. Reach
• Entrepreneurs are drawn to the 7. Range
application of theory through practical 8. Revolutionary Impact
task-oriented problem-solving. 9. Returns
4. Initiating Style: 10. Relative of Ease of Implementation
• Entrepreneurs are interested in 11. Resources Required
practical activities that are more likely 12. Risks
to engage their sense of intuition, and
OPPORTUNITY SCREENING
they are more likely to learn through
social interactions. • Determining the critical factors that could affect
5. Balanced Style: the outcome of the chosen opportunity.
• Entrepreneurs may also have a • Entrepreneurs need to identify their target
balanced or flexible style that allows market, create a positive impression,
them to adapt their learning on a conceptualize, and design the appropriate
situational basis. product or service, and execute the business
plan or strategy.

2
RAIANNE ABIAD
 ENTERPRISE LIFE CYCLE

ENTERPRISE LIFE CYCLE

• Effective communicators
• Visionaries
• Optimistic
• Innovators
• Problem-solvers
• Results-oriented
• Risk-taking

POSITION STATEMENT
• Concise explanation of how an entrepreneur
wants the market to perceive his or her brand. [
• It includes a brief description of the product or
service and how it addresses a particular need
of the target market.
• Its purpose is to convey a brand' s value
proposition to its ideal customers.
• THINGS TO CONSIDER:
o It must be simple, memorable, credible,
and tailored to the target market.
o It provides an easily understood and
unique description of the brand.
o It helps evaluate the consistency of
marketing efforts with the brand.
o It leaves room for growth and
development.

3
RAIANNE ABIAD
Entrepreneurship
LESSONE TWO: CAREER OPPORTUNITIES AND RELEVANCE OF ENTREPRENEURSHIP
Second Semester: First Quarter (Midterms) | SY: 2022-2023 Made by: Raiannemaxyne T. Abiad
ANDTeacher:
Subject RELEVANCE
Mr. Jimenez OF

ENTREPRENEURSHIP
TOPIC OUTLINE o Range of services, network partners,
A. Career Opportunities for Enterprise and an innovative support system.
i. Entrepreneurial Ecosystem o Access to customized financial, legal, or
➢ Start-Ups technological solutions.
➢ Serial Entrepreneurship o Meeting like-minded entrepreneurs,
B. Relevance of Entrepreneurship potential investors, and even suppliers.
i. Importance of Business
ii. Building the Entrepreneurial Culture SERIAL ENTREPRENEURSHIP
iii. 7Ms: Way of Uplifting Micro, Small,
and Medium Enterprises • The practice of starting several businesses one
➢ MSME Development Plan ’17- after another over a period of time.
‘22 • Both rewarding and riskier Once the business
matured, either leadership is transferred, or
business is sold.
CAREER OPPORTUNITIES FOR
ENTREPRENEURS SUCCESSFUL PH. ENTREPRENEURS:
1. Henry Sy, SR.
ENTREPRENEURIAL ECOSYSTEM → Top 1 - Forbes PH Top 50 Richest
→ SM Supermalls, SMDC, BDO
• Entrepreneurial ecosystem is a kind of network
2. Tony Tan Caktiong
setup where entrepreneurs have access to → Jollibee, Greenwich, Chowking,
funds, technology, human resources, and Pho24, Mang Inasal, Double Dragon
professional services, which they need to Properties Corp.
operate in a business environment where 3. Lucio Tan
government policies encourage and safeguard → Fortune Tobacco Corporation, Asia
them. Brewery, PNB, Philippine Airlines
• Every entrepreneur needs the following to (PAL), Eton, MacroAsia Airport
thrive in the business environment: Services Corporations
o Access to funds 4. Socorro Ramos
o Access to technology → National Book Store
o Access to human resources 5. Mariano Que
→ Mercury Drug
o Access to professional services
o Encouraging and safeguarding type of
government policies RELEVANCE OF ENTREPRENEURSHIP
START-UPS IMPORTANCE OF BUSINESS
• Difficulty in terms of: 1. Contributes to the country’s GDP.
o Penetrating the market 2. Provides employment.
o Securing loans
o Hiring desired talents
o Acquiring the latest technology
o Dealing with excessive bureaucracy
• With the help of the Entrep. Ecosystem:

4
RAIANNE ABIAD
 BUILDING THE ENTREPRENEURIAL o Provide timely, accurate, and
CULTURE inexpensive market matching for
MSMEs.
• Authenticity
• Commitment to people and business
• Continuous effort

7Ms WAY of UPLIFTING MICRO, SMALL,

AND MEDIUM ENTERPRISES
1. MIndset change
2. Mastery
3. Money
4. Machine
5. Market access
6. Model of Negosyo

MSME DEVELOPMENT PLAN ’17 - ‘22

• Business Environment:
o Business Climate
▪ Simplify, standardize, and
harmonize MSME rules and
regulations at the local and
national levels.
▪ Encourage MSMEs to take
advantage of opportunities.
o Access to Finance
▪ Streamline and simplify loan
and process.
▪ Incentivize financial institutions.
▪ Equip MSMEs to avail formal
financial services.
• Business Capacity:
o Human Capital Development:
▪ Expand and strengthen the
human resources capacity of
MSMEs.
o Access to Technology and Innovation:
▪ Provide support links for
MSMEs and large corporations.
▪ Develop inclusive businesses.
▪ Establish domestic economic
zones.
▪ Provide affordable
technologies.
• Business Opportunities: Access to Market
o Strengthen value and supply-chain
linkages.

5
RAIANNE ABIAD
Entrepreneurship
LESSONE THREE: KEY ECONOMIC CONCEPTS
Second Semester: First Quarter (Midterms) | SY: 2022-2023 Made by: Raiannemaxyne T. Abiad
Subject Teacher: Mr. Jimenez

TOPIC OUTLINE GOODS VS. SERVICES

A. Defining Economics
i. Market Participants • Goods = products enjoyed
ii. Goods vs. Services • Services = activities enjoyed
iii. Needs vs. Wants
B. Demand NEEDS VS. WANTS
i. The Law of Demand
C. Supply • Needs = for survival
i. The Law of Supply • Wants = preferences
D. Price Elasticity
i. Factors for Price Elasticity DEMAND
ii. Income Elasticity
• Desire for goods and services to satisfy human
E. Gross Domestic Product
wants.
i. Nominal GDP
ii. Real GDP • Buyer-Centered Quantity of a commodity a
F. Inflation buyer is willing to purchase.
i. Principle on Inflation
G. Economics and Businesses THE LAW OF DEMAND

WHAT IS ECONOMY?
• Broad and connected set of economic
activities.

DEFINING ECONOMICS
WHAT IS ECONOMICS?

• The study of how people and society choose, SUPPLY

with or without money, to employ scarce
production of resources which could have • The availability of goods and services to meet
the demand.
alternative uses, to produce various
commodities, overtime and distribute • Supplier-centered.
consumption now and in the future among • Amount of goods and services which sellers are
various persons and groups. willing to sell or supply in the market.
• The production, distribution, and consumption
THE LAW OF SUPPLY
of goods and services to satisfy human needs.

MARKET PARTICIPANTS
• Producers
• Distributors
• Consumers

6
RAIANNE ABIAD
 PRICE ELASTICITY INFLATION
• Responsiveness or sensitivity of demand to • General increases on the price level of
price changes compared to others. commodities.
• Needs inelastic = when a buyer's demand for a
product does not change as much as its change PRINCIPLES ON INFLATION
in price.
• Wants elastic.

INCOME ELASTICITY
• Measures the responsiveness or sensitivity of
demand to changes in income.

PRINCIPLES

ECONOMICS AND BUSINESSES

1. Will there be a demand for the product in
mind? Or enough supply to meet demands?
2. Is the demand elastic or inelastic?
CONSUMER PREFERENCES: 3. Have one considered the inflation rate in
• Influences demands. determining the cost of the production and
• Ever-changing selling?
4. Are there many substitutes for the product in
GROSS DOMESTIC PRODUCT mind?
5. Is the price realistic?
• The value of all final goods and services 6. Is the economy in a state of expansion or
produces in the economy in a given time period, recession?
usually a year. 7. Is there increasing economic prosperity and
increasing purchasing power of consumers?
NOMINAL GDP
8. Is there increasing economic prosperity and
• Economy’s total output at the prices prevailing increasing purchasing power of consumers?
at the period the outputs are produced.
• It is the total value of goods and services
consumed, plus government expenditures,
investments, and exports, minus total imports.

REAL GDP

• The total output produced in a period using the

price of a certain base year.
• Adjusts the number in order to discount the
effects of inflation or deflation, and currency
fluctuations up or down.

7
RAIANNE ABIAD
Entrepreneurship
LESSONE FOUR: DEVELOPING A BUSINESS PLAN AND STRATEGIC PLANNING
Second Semester: First Quarter (Midterms) | SY: 2022-2023 Made by: Raiannemaxyne T. Abiad
Subject Teacher: Mr. Jimenez

TOPIC OUTLINE COMPANY DESCRIPTION

A. Business Plan: Its Definition and Parts
i. Defining Business Plan • Provides an overview of the key aspects of the
ii. Parts of a Business Plan business, such as its vision and mission,
➢ Executive Summary objectives, nature and scope of the business,
➢ Company Description product and services, and other highlights.
➢ Industry Analysis • It also outlines important details about the
➢ Marketing Plan company, such as where it is located, how large
➢ Production Plan it is, and what the business hopes to
➢ Organization and
accomplish.
Management Plan
➢ Financial Plan • PARTS OF COMPANY DESCRIPTION:
B. Importance of Strategic Planning to MSME 1) Company Name
Enterprises 2) Type of Business Structure
i. Priority-Setting 3) Management Team
➢ Five Step Priority-Setting 4) Location
➢ Categorizing Business 5) Brief History
Priorities 6) Vision and Mission Statement
ii. Resource Allocation 7) Business Objectives
➢ Categories of Resources 8) Product and Service Line
iii. Common Goals
iv. Agreed Outcomes INDUSTRY ANALYSIS
➢ Types of Business Outcomes
• Opportunities and threats facing the company
BUSINESS PLAN: ITS DEFINITION AND enabling the reader to understand the position
PARTS of the company relative to other companies in
the industry.
DEFINING BUSINESS PLAN • Underlying forces at work in the industry.
• Overall attractiveness of the industry.
• Must systematically assess all the factors critical
• Critical factors that determine a company's
to the business purpose and goals.
success within the industry.
PARTS OF A BUSINESS PLAN • INDUSTRY ANALYSIS TOOLS:
a) Pestel Analysis:
EXECUTIVE SUMMARY ➢ It studies the macroeconomic
environment or key external
• It includes a brief description of the company factors.
and the contributions of its business or projects ➢ Political, Economic, Social,
to the economy. Technological, Legal (ethical,
ecological, demographic)
o PESTEL, STEEPLE,
STEEPLED

8
RAIANNE ABIAD
 b) Porter’s Five Forces: IMPORTANCE OF STRATEGIC
➢ Identifies the five competitive PLANNING TO MSME ENTERPRISES
forces that shape every industry
and helps determine an PRIORITY-SETTING
industry's strengths and
weaknesses. • Helps your company achieve its vision through
obtainable goals and objectives.
MARKETING PLAN • Include creating tasks, weighing options, and
making decisions to increase the organization's
• Contains the product or service description and effectiveness and efficiency of the business.
a comparative analysis.
• Contains the Marketing Strategy. FIVE STEP PRIORITY-SETTING
• Describes the foundation on which a company’s
1. Evaluate the company’s vision, mission, and
marketing activities and sales operations will
objectives.
rest.
2. Identify the company’s strengths, weaknesses,
• It discusses the company’s value proposition
opportunities, and threats.
and marketing mix.
3. Communicate and collaborate with the
• 4PS OF MARKETING STRATEGY:
organization.
1) Product
4. Categorize business priorities.
2) Place
5. Measure progress and track results.
3) Price
4) Promotion CATEGORIZING BUSINESS PRIORITIES
PRODUCTION PLAN

• States what will be provided and sold to the

market, describes the benefits of the products
or services, and discusses the production
processes.

ORGANIZATIONAL STRUCTURE
• Summarizes information about the business
organization.
• Best to include an organizational chart to
describe key responsibilities and accountability
in the company.
RESOURCE ALLOCATION
FINANCIAL PLAN
• Process of allocating and managing company
• It details the amount of funding needed to assets or resources to support the business.
finance the project or business and discusses
the financial analysis and outlook of the CATEGORIES OF RESOURCES
business.
1. PHYSICAL RESOURCES:
• FINANCIAL PROJECT:
→ Capital-intensive assets such as office
o Forecast of future profits and expenses.
buildings, machines, equipment, etc.
o They provide a prospective financial
2. INTANGIBLE RESOURCES:
outlook for the business, which includes
→ Cannot be seen, touched, or felt, such
forecasted income statements, balance
as patents, trademarks, and copyrights.
sheets, and cash flow statements.

9
RAIANNE ABIAD
3. HUMAN RESOURCES: e. Performance:
→ Employees, professionals, consultants, → Strives for value creation in the form of
and service providers. effective and reliable products and
4. FINANCIAL RESOURCES: services as they will enhance the
→ Cash, lines of credit, security bonds, company’s image and reputation.
insurance, stocks, and bonds.

COMMON GOALS
• Encourages managers and employees to work
together as a team and achieve the desired
results.
• SMART goals are common goal-setting model
used in businesses.
o SMART Goals:
▪ Specific
▪ Measurable
▪ Attainable
▪ Relevant
▪ Time-bound

AGREED OUTCOMES
• An outcome is a social contract between a
company and its customers detailing the aligned
objectives they both agree.
• All outcomes are customer-centric.

TYPES OF BUSINESS OUTCOMES

a. Business Adaptability:
→ Incorporating more technology into
daily operations or offering integrated
software applications to clients.
b. Environmental Sustainability:
→ Addressing environmental issues by
eliminating carbon footprint, reducing
waste, and converting to more
ecofriendly processes.
c. Profitability:
→ Seeks to increase revenues and
decrease costs and expenses to
increase overall profits.
d. Market Reach:
→ Aims to expand operations and improve
client range which can lead to higher
profits and market visibility.

10
RAIANNE ABIAD