Name three entrepreneurial trends you

observe in your environment.

Why entrepreneurs venture into those
businesses?
– noted to be one of the friendliest
countries for entrepreneurs, home
to Apple, Google, Starbucks,
Walmart and Walt Disney
home to budding entrepreneurs
who manufacture different products
that range from toys, gadgets,
electronics and cars; a lot of
products have generic brand
names
literally a small country that
controls a significant portion of the
economy in Asia, home to
entrepreneurs who innovate on
existing services for local and
international use.
– entrepreneurs here are
exploring opportunities over the
internet such as the people from a
region called Sanikiluag, known
for their wood carving skills and
entrepreneurs are selling their
products online.
– one of the countries in the Asia
Pacific rim with a strong base of
entrepreneur organizations led by
the youth and women.
– entrepreneurship here is
encouraged through the small and
medium enterprise incubation
centers for the purpose of
nurturing young firms, new
products and technologies.
with the knowledge based
economy, it utilizes its human
resources to make its economy
the best possible through
entrepreneurship such as
activities related to tourism and
agricultural exports which
receives strong support from
government and private sector.
the extent of government support to
entrepreneurs is very evident, in its
international airport in Bangkok, a huge
section is subsidized by the Bureau of
Small and Medium Enterprises for the
promotion of local products. Tourism for
the international markets and agricultural
exports are two major sources of income
of Thai entrepreneurs.
this country is becoming friendlier to
entrepreneurs which is apparent in the
growing numbers of businesses which
decided to locate here.
it emerged from the Asian financial crisis
better than any other country in the region,
home to Samsung and Kia.
Proactive process of developing
a business venture to make a
profit.
From an economist’s
It is someone who brings resources, labor,
materials and other assets into combinations that
make their value greater than before
It is also someone who introduces changes,
innovations and a new order.
From a psychologist’s
A person who is typically driven by certain forces
such as the need to obtain or attain something, to
experiment, to accomplish or perhaps to escape
the authority of others.
From a management perspective
It is someone who identifies opportunities, plans,
mobilizes resources, manages and assumes the
risks of a business to have a positive impact on
society.
Entrepreneurs are proactive rather than
reactive. They address issues, problems,
and challenges before they come rather
than when they already happened.
They are always enthused to improve and
develop new products and services and
introduce them to the market
Entrepreneurs calculate risks; if they think
that there is a big change of succeeding,
they push through with the venture and
don’t let the opportunities pass.
Entrepreneurs have a talent for recognizing
ann opportunity even by using the
macrolevel data only. They know how to
assess the net cause and effect of an
opportunity and decide intelligently if a
venture should be considered or not.
Soft skills are one of the most important
competencies of entrepreneurs as these
establish the relationship with most
important assets of the company – its
people and its customers. Relationship
management is the key for the employee
and customer retention, which can be
achieved by sociable entrepreneur.
A networkers knows the key people to
connect with. Networking can be very
intimidating task, for it takes a lot of gots to
pull it off. Successful entrepreneurs gain
trust of their valuable network and maintain
a long-lasting ralationship with them.
Entrepreneurs always have a decision
about their business. They do not settle for
a gray areas or unclear solutions. They do
not leave an issue unsolved without a
disposition. They make sure that all aspects
of their business have clear objectives and
strategies. Last, they base their decisions
on scientific calculations backed up by their
experience and technical knowledge.
The minds of entrepreneurs should have a
balance between the analytical and the
creative side. The brains are always playing
with “unique ideas” that no one has ever
thought of yet. Entrepreneurs have
“Eureka!” moments and enjoy them.
The minds of entrepreneurs are rich with
big ideas that can add value to their
existing business or could become a game
changer in the industry or business where
they belong. They do not stop improving
and thinking of a new and worthwhile ideas
for their business.
Entrepreneurs must be a source of inspiration
for their employees. They must be very
humble, approachable, friendly, and also know
how to listen to people’s concerns. Leaders act
on their responsibilities that were given to
them. They use their strengths and limitations
to make the best of a situation. They must also
be decisive and know how to own up to their
decisions. They know how to unite the team
and bring out the best in every employee
1. Produces more jobs that equate to an increase in national income
2. Amplifies economic activities of different sectors of society
3. Introduces new and innovative products and services.
4. Improves people’s living standards.
5. Disperses the economic power and creates equality
6. Controls the local wealth and balances regional development
7. Reduces social conflicts and political unrest.
8. Elicits economic independence and capital formation
• Employment regulations
• Bankruptcy laws
• Tax policies of a country
 It helps you think of new ways to earn money in a tough economy.
 It can help prepare you for a job.
 It can help you think of new ways to be a valued employee in any job.
 It demonstrates a variety of ways that your technical skills can be
used in the workplace.
 It creates a foundation for additional learning experiences.