INITAO COLLEGE Course Code: GE ELECT 1
Jampason, Initao, Misamis Oriental Course Title: The Entrepreneurial
1st Semester, S.Y. 2022 – 2023 Mind
Unit: 3 (Lecture)
Instructor: Subject Schedule:
Monday and Thursday
WAREN S. ABAYABAY
(1:00pm-2:00pm)
Mobile Number:
Facebook Group Page:
09076307048 GE ELECTIVE 1 The
e-mail address: Entrepreneurial Mind (BEED-2 G1
& G2)
warenabay2x@gmail.com
Contact Schedule:
Monday to Friday
(8:00am-12:00nn)
Hand-outs 1
Topic: Desired Learning Outcomes
Introduction to Entrepreneurial Mind Describe what is an entrepreneurial mind
Differentiate entrepreneurial thinking vs.
becoming entrepreneur
Explain the concept of entrepreneurship
INTRODUCTION
A lot of people might think of Silicon Valley, venture capitalists, Facebook, and the early days of Apple
when they think of “startups,” “ventures,” or “entrepreneurs.” The truth is that there are many more ways to
bring a product out into the world.
If you’re “entrepreneurial,” it might mean that you want to make millions of dollars from your innovation—
but it doesn’t have to. It doesn’t even mean that you have to start a business. Generally, being
“entrepreneurial” means that you’re a problem-solver and innovator who is considering ways to get your
invention or product into the world. How much effort you put in and how you decide to obtain the resources
to make that a reality will determine your status as entrepreneur.
ANALYSIS
Entrepreneurship
Entrepreneurship:
a process of innovation and new-venture creation
“The pursuit of opportunity without regard to the
the dynamic process of creating incremental resources currently available.”
wealth
-Prof. Howard Stevenson of the Harvard Business
what the entrepreneur actually does School
Entrepreneur
one who organizes, manages, and assumes the risks of a business or enterprise
a person who starts a business and is willing to risk loss in order to make money
a person who sets up a business or businesses, taking on financial risks in hope of profit.
the person behind entrepreneurship, who always searches for change, responds to it and exploits it
as an opportunity. (Starting – business – risk)
is “an individual who rather than working as an employee, runs a small business and assumes all the
risks and rewards of a given business venture, idea, or good or service offered for sale”. This is a
lifestyle, or job, that someone has chosen.
Entrepreneurial Mind = Skillset + Mindset
Skillset – the set of tools you acquire from your training to solve problems
Mindset – the attitude and disposition towards problems
Entrepreneurial Mind
a learned process and can be taught to anyone
not becoming entrepreneur
a mindset on how you approach solving a problem
not just products but creative process
based on 3C’s: Curiosity, Connections, Creating Value
Curiosity
- Do you wonder about natural phenomena (scientist) or man-made objects (engineer) or
products (business) or the human experience (humanities), etc.
- Must be intensely curious about things – must know how things work.
- This must be encouraged – preferably from an early age.
Connections
- Information you have leads to insight when connected with other information (a customer,
or a business person or a scientist or across disciplines).
- You collect information in you – “repository”
- Your information + other information = critical insight
- Need network of people
Create Value
- This is an ultimate goal to create something that is useful: modify the widget (cheaper or
uses less material), useful to society (something people want and need), customers (they
pay for it).
Entrepreneurial thinker
Someone with an entrepreneurial mind (or mindset), is someone who constantly stretches their
knowledge and experiences and embraces potentially uncomfortable situations from which they might
learn. This is a mindset, or way of seeing the world. Anyone can think entrepreneurially; some people
intuitively are more comfortable with this mindset, while others learn it over time.
Entrepreneur implies an Entrepreneurial Mindset. Having an entrepreneurial mind does not mean to
become an entrepreneur. You may decide not to be an entrepreneur, but by practicing entrepreneurial
thinking, you’re more likely to be an effective employee, inventor, engineer, or designer. Consider the last
time you needed a big favor from someone, or the last time you suggested a new project at your job. It is
likely that you began to think like an entrepreneur: “What resources are needed, and for how long? Who is
willing to help? What’s in it for them? What problem am I solving with my product or service? Can I design it
to be even more useful?” By identifying and building your entrepreneurial thinking skills, you become more
knowledgeable, resilient, and creative, no matter what you decide to do.
According to a study that reviewed the research about entrepreneurial mindsets, people with an
entrepreneurial mindset have a mix of these personality traits or habits of mind:
Curiosity Risk-taking Innovation
Perseverance Enjoy independence/limited structure Achievement orientation
Ethics Future-focus Empathy/interpersonal sensitivity
Non-conformity Optimism Leadership orientation
Reflective Strong self-confidence
Many people seem to be born with these traits, but they can also be learned. Someone can cultivate
an entrepreneurial mindset when they think critically and holistically about their product, their customer, and
themselves.
APPLICATION
Is entrepreneurship for everybody (5pts)?
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
ASSESSMENT
I. In a short bond paper, attach one picture of any product innovations may it be a food, gadgets,
appliances, machines, etc. (from brochures, newspapers, flyers, etc.) Put caption about the
product’s name, inventor, company, specifications, and its benefits to humans and society.
REFERENCES
THINKING LIKE AN ENTREPRENEUR LESSON 1: FROM INNOVATOR TO ... (n.d.). Retrieved August
16, 2020, from https://venturewell.org/wp-content/uploads/1.-Lesson-1_Handout.pdf
