ENTREPRENEURSHIP UNIT I – Developing a Business Plan Module 1 – Overview of Entrepreneurship Module 2 – Recognizing the Potential Market Module 3 – The Marketing Plan Module 4 – Product Development, Operations and Financial
UNIT II – Implementing a Business Plan
Module 5 Implementation of Marketing Plans and Strategies Module 6 – Implementation of a Business Plan Module 7 Financial Statement analysis and overall Interpretation of a Business results ENTREPRENEURSHIP
a proactive process of developing a
business venture to make a profit. It involves seeking opportunities for a market, establishing and operating a business out of the opportunity and assessing its risks and rewards through close monitoring of the operations SOCIETAL & Economic benefits of Entrepreneurship Entrepreneurship produces more jobs that adequate to an increase in national income. Millions of unemployed people will have the opportunities to have a decent occupation. Small businesses produce jobs and create wealth. Entrepreneurship amplifies economic activities of different sectors of society. A simple eatery in a rural area and a coffee shop in an urban area are both ignite economic activity regardless of their business scale. Entrepreneurship introduces new and innovative products and services. New products and services are always available in the market because of the ingenuity of entrepreneurs to seek opportunities and improve on them. Entrepreneurship improves people’s living standards. How can you look good if not for the services of your nearby salon or barber shop? How can your day be complete without the food that a nearby eatery cooks? How can you live without the sari-sari store near your house where you buy your basic needs? Entrepreneurship disperses the economic power and creates equality. Itbalances the economy by distributing national income to more business rather than to only few monopolies. Entrepreneurship controls the local wealth and balances regional development. It makes sure local resources are used properly and that every area has an appropriate allocation of resources. Entrepreneurship reduces social conflicts and political unrest. Imagine if there are no or only few sari-sari or supermarket stores in your area. All of you will then fight for the food supplies because the store cannot supply all your needs. Entrepreneurship elicits economic independence and capital formation. A country with more entrepreneurs is highly likely to become financially independent and will less likely need the help of other countries. This also applies to families, barangays, and cities. Entrepreneurship creates wealth instead of borrowing wealth.