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Concepts

Session 4. Concepts. Powerpoint Presentation by: RUDOLPH D. VELASCO Entrepreneurship and Business Planning. ENTREPRENEUR. Cantillon defines an entrepreneur as one who bears uncertainty, buys labor and materials and sells products at uncertain prices.

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Concepts

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  1. Session 4 Concepts Powerpoint Presentation by: RUDOLPH D. VELASCO Entrepreneurship and Business Planning

  2. ENTREPRENEUR • Cantillon defines an entrepreneur as one who bears uncertainty, buys labor and materials and sells products at uncertain prices. • To schumpeter, an entrepreneur is an innovator. • The American Heritage Dictionary defines an entrepreneur as a person who organizes, operates and assumes the risk for business ventures. • The pure entrepreneurs are those who launch their own venture from scratch.

  3. CHARACTERISTICS OF AN ENTREPRENEUR • Reasonable Risk Takers • Self Confident • Hardworking • Innovative • Leadership • Positive Thinkers • Decision Makers

  4. FILIPINO ENTREPRENEURSHIP The DBP defines the qualities of an entrepreneur: • Self reliant • Risk taker • Industrious • Humble • Helpful • Creative • Happy

  5. DETERMINANTS OF A SUCCESSFUL ENTREPRENEUR • Ability to conceptualizeand plan • Ability to manage others • Ability to manage time and to learn • Ability to adapt to change

  6. SMALL BUSINESS Business is defined as an organized effort of individuals to produce and sell goods and services in order to satisfy the needs of society. What is a small business? Characteristics of Small Businesses • It is privately owned • It has few or no layers of management • Generally, it has sufficient resources to dominate its field of business

  7. SMALL BUSINESScontinuation… The Magna Carta for small enterprises (RA 6977) defines small and medium enterprises as any business activity or enterprise engaged in industry, agribusiness and/or services, whether single proprietorship, cooperative, partnership or corporation whose total assets , inclusive of those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, must have value falling under the following categories: • Micro : Less than – P 50,000 • Cottage : P 50,001 – P 500,000 • Small : P 500,001 – P 5,000,000 • Medium : P 5,000,001 – P 20,000,000

  8. ADVANTAGES OF SMALL BUSINESSES • Personalized relationship with customers and employees • Flexibility in management. • Government incentives • Simple record keeping. • Independence.

  9. DISADVANTAGES OF SMALL BUSINESSES • Difficulty of raising capital • Risk of Failure • Limited management skills • Lack of opportunities Why small business fail: • Lack of experience • Lack of money • Wrong location • Mismanagement of inventory • Poor credit practices • Poorly planned expansion • Unsound or too little analysis in choosing the business

  10. ECONOMIC CONTRIBUTIONS OF SMALL BUSINESS • They introduce innovation • They create employment • They provide competition • They fill the needs of society and big businesses

  11. REFERENCES Entrepreneurship, Fajardo, Feliciano R.; Capitol Publishing House Inc. 1994

  12. Other Matters Learning Materials and Powerpoint Lectures are available online http://rdvonlineclassroom.weebly.com

  13. End of Presentation

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