1.Discovery 2.Development of Concept 3.Organizing Resources 4.Implementation 5.Reaping the returnsCharacteristics of Entrepreneurs 1. Reasonable risk-takers -careful and calculating -they make things happen rather than let them happen 2.Self-confident - strong faith in their abilities - they do not accept things as they are, Because they believe they can do things better. Characteristics of Entrepreneurs 3. Hardworking - Entrepreneurs are hardworking, enjoy challenges and difficult tasks, and they love their work. 4. Innovative - creative - doing things in new and different ways. Characteristics of Entrepreneurs 5. Leadership - task-oriented -effective planners, organizers and implementors -achievers Essential Leadership Qualities -Selfless dedication -Purpose and vision -Courage -Enthusiasm -Integrity -Tact -Hardwork
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02/12/2018 5 Characteristics of Entrepreneurs 6. Positive thinkers - thinking of success and bright sides 7. Decision-makers - the success of the business depends on the ability to make the right decision Characteristics of Entrepreneurs Six Distinct Phases of Decision-Making 1.Identifying the problem 2.Gathering the data about the problem 3.Analyzing the data 4.Formulating alternative solutions 5.Selecting the best solutions 6.Implementing the solution/decision CHOOSING THE BEST SOLUTION 1. Presence of Risk 2. Economy of Effort 3. Time Factor 4. Availability of Resources IMPLEMENTING DECISIONS •On a trial basis or on a limited scale to test feasibility of the business ventures CONCEPT OF THE FILIPINO ENTREPRENEUR, (dbp) 1.Self-reliant 2.Risk-taker 3.Industrious 4.Humble 5.Helpful 6.Creative 7.Happy Determinants of Successful Entrepreneurship 1.Ability to conceptualize and plan. 2.Ability to manage others. 3.Ability to manage time and to learn. 4.Ability to adapt change.