DR. OSCAR O. ANCHETA JR. Professor What is Entrepreneurship? -The practice of embarking on a new business venture or existing businesses by combining different resources in order to develop new opportunities. What are the Types of Entrepreneurship? 1. 2. 3. 4. Small Business Entrepreneurship Scalable Startup Entrepreneurship Large Company Entrepreneurship Social Entrepreneurship (Grameen Foundation) What is an Entrepreneur? -Is a person that possesses various skills in terms of marketing, and communication and strategically has the potential demand for the goods and services whether as a sole proprietor, with partners or within a corporation. What are the Types of Entrepreneurs? What is an Technopreneur? -a person who revolutionizes the prevailing economic order by making the best use of the technology at hand. Are technopreneurs entrepreneurs? Are entrepreneurs technopreneurs? What are the Entrepreneurial Process? Opportunity Analysis Business Planning Gathering Resources Implementation Scaling and Harvesting What are the Technopreneurial Process? Idea Generation Idea Screening Concept Testing Business Analysis Monitoring and Evaluation Commercializati on Test Marketing Prototyping The Foundation of Entrepreneurial Ethics 1. Conscience -it is the intellectual and personal moral behavior of an entrepreneur. It is the capacity for recognizing situations that call for business decision-making that stands for what is right according to the accepted moral values of the group. 2. Justice -it is the respect for the right of others. It is fairness in business dealings and fairness with the employees that make and help him run the enterprise. It is the desire to render what is fair and just. It is the recognition of the person’s obligation to others who depend on him for his success. The Foundation of Entrepreneurial Ethics 3. Wisdom -it relates to man’s intellectual development which acquires through training and experience. It must be anchored on selflessness and humility and void of arrogance. Wisdom is the development of the mental faculties in wise decision-making and deciphering what is right and wrong and just for all people. 4. Courage -it refers to the entrepreneur’s determination to stand for what is right and just according to the standard of moral values and ethics. He must also be brave enough to accept what is wrong as no one is perfect and in this makes amends, as he goes through the process of learning. The Foundation of Entrepreneurial Ethics 5. Temperance -it relates to the wisdom of intellectual control in the face of adversities or problems. It is seeing the issue from a wider perspective and clear sense. It is a person’s display of decorum and makes the individual intellectual demand peace of mind. The Role of Ethical Standards for Entrepreneurs 1. Foster the development of social interest and goodwill in the business of operation. 2. Determine the business courses of action that will safeguard their existence in the industry. 3. Create an atmosphere that will ensure mutual trust and confidence between management and its various stakeholders. 4. Develop a mechanism that will give equal opportunities for all without favoritism. . 5. Development of fair competition. What make a Good Business Ethics? 1. The Employees The relationship between management and the employees is a personal relationship. The relationship is governed by the golden rule of “Do unto others as what you want others to do unto you.” The employees are partners in the operation of the business and management cannot ignore their importance in the operation. They are the most important assets and they need to be treated with utmost courtesy and trust that make them feel that they are one with management in the making of a better organization. Satisfied employees are like contented cows who give the best milk. - What make a Good Business Ethics? 2. The Customers -The forging of a better relationship between the business organization and the customer is the essential requisite of ethical standards and morality. Customers like employees are the very “hen that lays the golden eggs” that brings profit to the organization. Products and services must satisfy the needs and want of the customers, and without them, management cannot be in business. Products must have standards of quality in order to assure customer patronage. While laws are enacted to protect the customers against fraud, it is more of the concern of the entrepreneur to protect their rights as trust must be the built-in mechanism for the development of more customers. What make a Good Business Ethics? 3. The Community -The business enterprise is located in a particular area of operation. They distribute goods or render services to the community. Th first concern of the entrepreneur is to secure the protection of the environment against pollution and the development of a social ecosystem. The enterprise has the social responsibility in the employment of people within the area of operation to develop economically the living condition of the local population. It must participate in community social and civic activities and get the cooperation of the local population. Support of the community is a vital asset in the success of the business. What make a Good Business Ethics? 4. The Government -Business operation generates profits. Profits are subject to taxes to support the government's operational services in providing better maintenance of roads, the health condition of the people, and services for the education of the community. An ethical business entrepreneur should pay the tax that is due to the government’s honesty. The must support government programs and projects in the proper disposal of waste and other pollutants. What make a Good Business Ethics? 5. The Competitors -Unfair business operation is always considered a critical point of discussion in the world of business. It is considered in the circle of industries as downright immoral and unethical. It is immoral to downplay the products of the other company and spread rumors or gossip with unfounded validity. Entrepreneurs who sell their products below production cost in order to topple the product of the other enterprise in the market are greatly immoral and outside of good business ethics. It also relates to the quality of the product and the promised services which are never fulfilled. The Starting Point to Entrepreneurial Success 1. Start to be on your own 2. Explore the business environment 3. Be in control 4. Have a good accountant or financial advisor 5. Seek the advice of professionals ACTIVITY 1: What’s Your Stand? “Save now and Invest Later” or “Invest now and Save Later” ACTIVITY 2: FILM SHOWING: Make a reaction paper on : The Pursuit of Happyness Link: https://www.youtube.com/ watch?v=6yPLdwqWcP0 CASE STUDY 1: JOVINA BUENAARTE PLASTIC PRODUCTS: LET ME TRY AGAIN • Miss Jovina Buenaarte was thirty-six years old way back in 2003 when she first started plastic products. She made up her mind to operate this business when her friend, a plastic maker, complained about the unavailability of plastic products in the area which is of standard quality. Those that are locally máde do not conform to the requirements set by various users. • With a P50,000 starting capital, Ms. Buenaarte proceeded to produce plastic products like bags and kitchen utensils. She personally supervised the mixing of the necessary materials for production. Because of good quality control, her products surpassed the requirements of buyers. Her sales increased considerably even if her selling prices are a little higher than those of competitors. CASE STUDY 1: JOVINA BUENAARTE PLASTIC PRODUCTS: LET ME TRY AGAIN • The firm soon grew into a multi-million peso operation. The number of her employees increased to about a hundred with five assigned to administration and the rest either as drivers or laborers. Her market covered the entire province of Laguna. • Miss Buenaarte's success happened right before the eyes of her administrative staff, and since then, had the impression that success is not a hard thing to achieve. • It was at this timé that Miss Buenaarte tried her hand in the appliance business, where she became quite successful. However, she neglected her plastic product business and soon her employees resigned one after the other. After leaving the firm, her production assistant, Mr. Noel Dela Cruz, made attempts to duplicate the feat of his former boss in plastic products manufacturing. • Miss Buenaarte starts failing, however, and she is now in deep thought considering what her next move should be. How to Write Your Case Analysis? The Coffee Table Booklet 1. Cover Page 2. Acknowledgement 3. Body (FREE FORMAT) Note: The coffee table booklet must highlight interesting and inspiring information/stories about the chosen business/enterprise. 4. The Author 5. Back Page (Logo, Philosophy, Vision, Mission, and Goal of DMMMSU) THANK YOU!!!!
