TLE 3rd Quarter
WHAT IS ENTREPRENEURSHIP?
The process of setting up a business.
ENTREPRENEURS
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. Commonly
seen as an innovator.
FACTORS TO CONSIDER IN CHOOSING THE TYPE OF OWNERSHIP:
● Monetary Resources
- Cover the financial position of the person. If the investment funds of the person are low/limited, he or she
must choose a simple business structure.
● Business Management Preferences
- Includes the person’s strength and capabilities to manage the business.
● The Primary Purpose of the Business Venture
- To embrace the reason for establishing the business.
DIFFERENT TYPES OF BUSINESS OWNERSHIP
● Sole proprietorship
- Considered to be the simplest, easiest, and least expensive business to start with.
- Owned and run by one person.
● Partnership
- It involves two or more persons who own and manage a single business.
● Corporation or Company
- A legal entity created to conduct business distinct from its owners.
- The owners of the company are called shareholders.
● Cooperative
- A form of business organization.
- Not formed to make a profit.
● Franchising
- Allows an individual or franchisee to practice the existing business concept.
THE ENTREPRENEUR
SOCIAL RESPONSIBILITY
Pertains to the act of being concerned and sensitive towards cultural, social, economic, and environmental issues.
STEPS TO MAKE SOCIAL RESPONSIBILITY WORK
1. Identify what cause you want to support.
2. Link with other organizations.
3. Design a program.
4. Involve employees and customers.
5. Sustain the mission.
VARIOUS RESPONSIBILITIES TO DIFFERENT PEOPLE INVOLVED IN A BUSINESS OPERATION
● Worker
- They should receive compensation and benefits.
● Suppliers
- Treat suppliers with the highest level of respect, integrity, fairness, and courtesy.
● Customers
- Protect their interest.
WHAT IS ENTREPRENEURSHIP?
The process of setting up a business.
ENTREPRENEURS
An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. Commonly
seen as an innovator.
FACTORS TO CONSIDER IN CHOOSING THE TYPE OF OWNERSHIP:
● Monetary Resources
- Cover the financial position of the person. If the investment funds of the person are low/limited, he or she
must choose a simple business structure.
● Business Management Preferences
- Includes the person’s strength and capabilities to manage the business.
● The Primary Purpose of the Business Venture
- To embrace the reason for establishing the business.
DIFFERENT TYPES OF BUSINESS OWNERSHIP
● Sole proprietorship
- Considered to be the simplest, easiest, and least expensive business to start with.
- Owned and run by one person.
● Partnership
- It involves two or more persons who own and manage a single business.
● Corporation or Company
- A legal entity created to conduct business distinct from its owners.
- The owners of the company are called shareholders.
● Cooperative
- A form of business organization.
- Not formed to make a profit.
● Franchising
- Allows an individual or franchisee to practice the existing business concept.
THE ENTREPRENEUR
SOCIAL RESPONSIBILITY
Pertains to the act of being concerned and sensitive towards cultural, social, economic, and environmental issues.
STEPS TO MAKE SOCIAL RESPONSIBILITY WORK
1. Identify what cause you want to support.
2. Link with other organizations.
3. Design a program.
4. Involve employees and customers.
5. Sustain the mission.
VARIOUS RESPONSIBILITIES TO DIFFERENT PEOPLE INVOLVED IN A BUSINESS OPERATION
● Worker
- They should receive compensation and benefits.
● Suppliers
- Treat suppliers with the highest level of respect, integrity, fairness, and courtesy.
● Customers
- Protect their interest.
