Ge Elect 1
Ge Elect 1
ENTREPRENEURIAL
MIND SETTING
(GE ELECT 1)
THE PRACTICE OF
ENTREPRENEURSHIP
ENTREPRENEURSHIP
• Entrepreneurship is increasingly regarded as a
valuable life skill that goes beyond simply by
starting a business because it prepares a person
to deal with an indefinite and unknown future,
particularly in the business world.
• Entrepreneurship is composed of collective
mindsets and skill sets that can empower an
individual to create and act on opportunities
.
ENTREPRENEURSHIP VIEWS
OLDER VIEWS
• Known as PREDICTIVE APPROACH considers
entrepreneurship as a linear process where there are
steps to do and the results are usually predictable.
• Entrepreneurs, identify the goals they wanted to attain
and search for available resources.
• Use by well known and establish companies
• Entrepreneurs can easily and accurately predict any
changes in the business environment.
NEWER VIEWS
• Identified as CREATION APPROACH sees
entrepreneurship as a mindset and a method that
needs practice and used only when the future is
unpredictable and not certain.
• Entrepreneurs define their goals based from the
resources available at hand.
• Small businesses always begin with creation.
• Need to gather information in the real business world
in order to make prediction for analysis.
THE START OF ENTREPRENEURSHIP
IN THE PHILIPPINES
1. INTRAPRENEURSHIP
Refers to encouraging people to discover high risk, high
reward concepts with the support of a big corporate
organization.
Responsible for innovating within an existing organization.
Example: Gmail
2. ENTREPRENEURS INSIDE
it is almost similar with intrapreneurship.
the difference is it can function inside any type of
organization whether big or small businesses.
It produces something value and affordable for the
budget conscious customers.
Example: Puregold
3. BUYING A FRANCHISE
Is a type of license bought by an entrepreneur as the
franchisee from an existing branded business.
Example: 7/11, Mcdonalds, Jollibee and a lot more.
7. SERIAL ENTREPRENEURSHIP
an entrepreneur who constantly crops ups with fresh
ideas and start new businesses.
Example: Oprah Winfrey –an American philantrophist, media
leader, and entrepreneur, local TV anchor of “The Oprah
Winfrey Show”, own foundation, co-founder of OXYGEN and
etc. Steve Jobs- Apple, next, PIXAR)
ENTREPRENEURSHIP AS A METHOD
Entrepreneurship
• Act of starting and running your own business.
Method
• Procedure followed in achieving an end.