Midterms Flashcards
Republic Act 10679 is also known as
Youth Entrepreneurship and Financial Literacy Program
The promotion of youth entrepreneurship and financial literacy program shall be inculcated in all levels of education nationwide
what section of RA 10679
Section 4
RA 10679 Section 4 is consistent with what section of RA 10533
Section 5
RA10533 or the ____
Enhanced Basic Education Act of 2013
shall ensure that the K to 12 curriculum shall be supported by programs on entrepreneurship and financial literacy: Provided, That at the elementary level, the programs referred to shall principally focus on the ideal values necessary to become successful entrepreneurs.
Department of Education
shall ensure the promotion of programs on entrepreneurship and financial literacy.
which agencies
Commission on Higher Education
Technical Education and Skills Development Authority (TESDA)
Entrepreneurship is a Mindset (3)
Growth oriented
Innovative
Opportunity Focusd
From “The Spirit of the Enterprise” “It is making the World forever NEW. It is taking AGGRESSIVE Actions.”
George Glider
“It is destroying the old order and creating new ones.”
Joseph Schumpeter
can be described as a creative and innovative response to the environment and the process of giving birth to a new enterprise. Such response can take place in any field of social endeavor, business, agriculture, education, social work etc.
entrepreneurship
forms of entrepreneurship (3)
social entrepreneurship
business entrepreneurship
techno entrepreneurship
In a Business Sense, it is an Idea that has Commercial Potential.
opportunity
Something you can make money with, develop a business around it, or create value with it.
opportunity
entrepreneurial mindset (3)
opportunity seizing
opportunity screening
opportunity seeking
masteries for an entrepreneur
mastery of self
mastery of opportunity
mastery of the enterprise
what percent of the world’s job are created by entrepreneurs
90 percent
three competencies of complete entrepreneur
originator:
operator:
organizer:
Innovator
Implementor
Inspirer
An entrepreneur must have an innovative aptitude, pick the right opportunity, and initiate action. If he/she does not initiate action at the right time the opportunity may be lost. Hence, the ability of an entrepreneur to take initiative is the key to the success of the venture to a great extent.
inititative
An entrepreneur should have wide knowledge of the economic and non-economic environment of business like the market, consumer attitudes, technology, etc. In the absence of such adequate knowledge, the decisions taken by him may be poor and will not contribute to the profitability of his business in the long run.
wide knowledge
Entering any venture is full of risks and uncertainties. In order to deal with various kinds of risks and uncertainties efficiently, the entrepreneur should have willingness and necessary foresightedness to assume risks. The quantity and quality of risk taking would determine the quality of business decisions.
willingnesss to assume risk
An entrepreneur should have an open mind. He/she must possess a dynamic and optimistic outlook so as to predict changes in the business environment and respond effectively without delay.
open mind and optimistic outlook
For achieving success in life, one should have confidence in himself/ herself. A person who lacks confidence can neither do any work himself/herself nor inspire others to work. Self-confidence is reflected in courage, enthusiasm and the ability to lead.
SELF CONFIDENCE
