• It is putting up a business.

• To most business people, an entrepreneur is willing to bear and take the risk of creating a new venture if there is a substantial potential for growth and profit.

• It’s also believed that the entrepreneur’s role is to innovate new products and services that deliver customer’s needs and demands.

Joseph Schumpeter (1883 - 1950)

• Economist. He studies how entrepreneurs are motivated to look, innovate, and create new and better business methods.

Peter Drucker (1909 - 2005)

• A Business expert.

Entrepreneurship- the process of creating new whether it’s a product/service that brings value by devoting the necessary time and effort.

Entrepreneur - an individual who plans, organizes, and operates a business/es, and takes greater than normal financial risks, psychic, and social risks.

• Creation; The real deal is starting the business and making the idea into reality.

• An entrepreneur must be willing to take the risk and prepare for the worst possibilities.

• Big rewards for those who are ready to take the risk.

WORLD’S FAMOUS ENTREPRENEURS

1. Elon Musk - co-founded 6 companies, including electric car maker ‘Tesla’, rocket producer

   SpaceX, and tunneling startup Boring Company.

2. Jeff Bezos - founder of e-commerce giant Amazon in 1994 out of his garage.

3. Bill Gates - turned his fortune from software firm Microsoft into diversified holdings including investments in zero-carbon energy.

4. Mark Zuckerberg - started Facebook at Harvard in 2004 at the age of 19 for students to match names with photos of classmates.

PHILIPPINE’S FAMOUS ENTREPRENEURS

1. Ramon Ang - President and Vice Chairman of San Miguel. A leader in food and beverages; but the bulk of its revenue comes from the power and infrastructure business.

2. Tony Tan Caktiong - founder and Chairman of Jollibee Food Corp. They sell Filipino, Chinese, American, and European dishes adapted to a quick-serve and affordable format.

3. Lucio Tan - the founder and chairman of LT group, which has interests in tobacco, spirits, banking, and property development.

4. Lance Gokongwei - the Chief Executive of JG Summit. It involves airlines, telecom, banking, food, power and property businesses.

ENTREPRENEUR COMPETENCIES

1. Initiative

2. Sees and acts on opportunities

3. Persistent

4. Information Seeking

5. Concern for Work Quality

6. Commitment to work contract

7. Efficiency Orientation

8. Systematic Planning

9. Problem-Solving

10. Self-confidence

11. Assertiveness

12. Persuasive/persuasion

13. Used the influence strategies

CHARACTERISTICS OF AN ENTREPRENEUR

1. Ambition

2. Enthusiasm

3. Creativity

4. Decision-making

5. Perseverance

THE REWARDS OF ENTREPRENEURSHIP

1. Money

2. Freedom

3. Psychological Rewards

POSSIBLE PROBLEMS FACED BY ENTREPRENEURHIP

1. Usually, business demands more hard work.

2. Demands long working hours.

3. It requires a lot of sacrifice.

4. Can cause various emotions and psychological stress.

5. Unforeseen Event.