UNIT 1 ENTREPRENEURSHIP AND ICT

ENTREPRENEURSHIP

is generally the creation of products and services by developing and using resources to meet people need.

BUSINESS RESOURCES

are anything that can help the entrepreneur accomplish the goals of his/her business.

SUCCESSFUL ENTREPRENEURS

Successful businessman in providing services and produce innovative products for their countrymen.

3 WAYS TO UNDERSTOOD ENTREPRENEURSHIP

-As a process, individuals or entrepreneurs identify opportunities, allocate resources, and create values for goods or services produced. -As an art, entrepreneurship uses a great deal of knowledge of the elements and principles of design to produce goods and services. -As a science, entrepreneurship follows a logical and organized process, and employs knowledge and skills to come up with product and services.

THE IMPORTANT OF ENTREPRENEURSHIP

1. It generates employment and fosters economic growth, 2. It improves the quality of life of families, communities, and the society as a whole. 3.It creates, uses, and promotes new technology. 4.It makes life more convenient because of continuous development and production of goods and services. 5.It increases the value of resources by creating and producing different products from these resources. 6.It identifies and explores business opportunities in different localities. 7.It promotes entrepreneurial culture and lively competition among aspiring entrepreneurs.

INTERNATIONAL ENTREPRENEUR

1. WILLIAM HENRY "BILL" H. GATES 111 - Microsoft Corporation 2.MICHAEL NEWTON - CCTV System 3.HENRY FORD - Ford Motor Company.

SOME FILIPINO SUCCESSFUL ENTREPRENEURS

1.HENRY SY SR. Is the founder of SM (Shoe Mart), SM Department Stores. the Philippines' largest retailing company. 2.TONY TAN CAKTIONG - Jollibee Foods Corporation. 3.SOCORRO RAMOS - National Books Store 4.MARIANO QUE - Mercury drug 5.CORAZON ONG - CDO Foodsphere. Inc.

3 WAYS TO CLASSIFIED BUSINESS RESOURCES

1.NATURAL RESOURCES- are provided by nature.Conservation of natural resources should be everybody's concern because these resources are significant to life.Soil directly or indirectly produces most of the food we eat. Examples: soil, air, forests, wildlife, and minerals. 2.NONHUMAN RESOURCES-are time, money or capital goods, property and facilities. It has been said that "time is gold" especially in business. 3.HUMAN RESOURCES-are our energy, knowledge, abilities and skills. These should be utilized to the fullest. The knowledge and skills of workers are very important in business. A positive attitude toward work also attracts more customers and can spells success for the entrepreneur.

QUALITIES OF AN ENTREPRENEUR

1.RESPONSIBLE-An entrepreneur takes the responsibility for getting things done. He/she controls and uses resources to achieve self-determined goals. 2.RISK TAKER-Assesses products and services, assesses production costs, market the customer needs, and persuades others to join and help to achieve goals of the business enterprise. 3.COMMITTED TO WORK-Once the entrepreneur commits to do a job, he/she does not stop until it is finished. He/she will stay with a project until it is successfully completed. 4.COMMUNICATES WELL-able to speak well and able to get his/her message across. 5.FLEXIBLE- can adjust to the changing demands of his/her customers. 6.CONFIDENT-shows knowledge and control to the whole business enterprise and able to gain respect of others. 7.TEAM PLAYER-works with a team and implements good and efficient work flow to the business enterprise system. 8.RESULTS ORIENTED-has in mind his/her set goals and able to achieve the desired outcomes. 9.RESILIENT-handle stress from his/her business and even with his/her personal life. 10.OPPORTUNITY SEEKER-should be quick to see and grab business opportunities. 11.PROFESSIONAL-not likely to let personal likes and dislikes stand in his or her way. He/she seeks the assistance of trade experts in making decisions that will greatly affect the business. 12.OPEN MINDED- seeks feedback and evaluation on his/her performance on running a business. 13.OPTIMISTIC- sees no reason why he/she cannot succeed. Not easily put off by challenges. He/She welcomes challenges and keeps a positive mind to resolve them. 14.PROACTIVE-study or learn from the present and the past because his/her thinking is directed toward the future. He/she anticipates the needs, changes, and challenges of the future. 15.PERSISTENT- does not stop taking actions until problems are solved.

REWARD OF AN ENTREPRENEUR

1.TO MAKE MONEY- an entrepreneur earns money by creating or establishing his/her own business. 2.BE THE BOSS- An entrepreneur is in control of his/her business and make the decision for the entire enterprise. 3.TAP HIS OR HER CREATIVITY- An entrepreneur takes the opportunity to start a business by turning his/her idea into reality. 4.OVERCOME CHALLENGES AND FIND FULFILLMENT IN RUNNING A BUSINESS-Has the capacity to secure and manage resources. He or she has the ability to face challenges and overcome difficulties in running the business. 5.HELP OTHERS- employs worker and compensates them. He or she also deals and networks with suppliers, subcontractors, and dealers. 6.BUILD AN ENTREPRENEURIAL LEGACY- An admirable entrepreneur conveys or passes an enterprising culture to his or her colleagues, family, or aspiring entrepreneurs that can be handed down through the generation.

ENTREPRENEUR

Is an individual who is highly enterprising and has the ability to see and evaluate business opportunities, gathers necessary resources, and takes advantage and evaluates appropriate actions to ensure the success of the business enterprise. An entrepreneur puts together all the factors of production to create goods or services that meet human needs. Are creative and innovative people. They have the ability to see, analyze, and evaluate business opportunities.