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Origin & Nature ofOrigin & Nature of
EntrepreneurshipEntrepreneurship
Reported by:
Rowena Esteban &
Diane Gervacio
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..from..
French
entreprendre means to undertake
Literature Provided men and materials needed by feudal
lords to wage war against their enemies (service)
Connotation by other authors and scholars
between-taker or -go-between
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DEVELOPMENT OF ENTREPRENEURSHIP THEORY AND THE
TERM ENTREPRENEUR
Middle Agesactor (war like action) and person in charge of large-scale production
projects
17th Centuryperson bearing risks of profit (loss) in a fixed price contract with the
government
1725Richard Cantillon - person bearing risks is different from one supplying
capital
1797Beaudeau - person being risks, planning, supervising, organizing and
owning
1803Jean Baptiste Say - separated profits of entrepreneur from profits of
capital
1876
F
rancis Walker - distinguished between those who supplied funds andreceived interest and those who received profit from managerial
capabilities
1934Joseph Schumpeter - entrepreneur is an innovator and develops untried
technology
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1961 David McClelland - entrepreneur is an energetic, moderate risk taker
1964 Peter Drucker - entrepreneur maximizes opportunities
1975Albert Shapero - entrepreneur takes initiatives, organizes some social-
economic mechanisms and accept risk of failure
1980Karl Vesper - entrepreneur seen differently by economics, psychologists,
business persons and politicians
1983Gifford Pinchot - intrapreneur is an entrepreneur within an already establsihed
organization
1985
Robert Hisrich - entrepreneurship is the process of creating something
different with value by devoting the necessary time and effort, assuming the
accompanying financial, psychological, and social risks, and receiving the
resulting rewards of monetary and personal satisfaction
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Author Lloyd Shefsky disected the
entrepreneurinto:
entremeans to enter
pre means before
neurmeans nerve center
Which leads to defining entrepreneur as
someone who enters a business in time toform or change substantially that businessnerve center
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The dynamic process of creating incremental
wealth. Karl Vesper
A person who is able to look at the environment,
identify opportunities to improve the
environment, marshall resources, and implement
action to maximize those opportunities. ProfessorRobert Nelson
Doing things that are not generally done in the
ordinary courses of business routine. Joseph
Schumpeter
The ability to create and build a vision from
practically nothing. Jeffry Timmons & co-authors onNew Ventures Creation
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Behaviors of an Entrepreneur (Albert Shapero)
Initiative taking
The organizing andreorganizing of
social/economic mechanisms to turn
resources and situations to practical account
The acceptance ofrisk andfailure
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The process of creating something different with
value by devoting the necessary time and effort,assuming the accompanying financial, psychic,
and social risks, and receiving the resulting
rewards of monetary and personal satisfaction.
Hisrich and Peter
The process of identifying opportunities in the
marketplace, marshalling the resources to pursue
those opportunities, and committing actions and
resources necessary to exploit the opportunities
for long-term personal gain. Sexton and Bowman-Upton
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In Sociology, Max Weber refers to
entrepreneur as the ultimate source of power
and authority in an economic organization. In Psychology, they defined traits that make up
an entrepreneur like flexibility, sociability,
independence and aggressiveness.
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WilliamWilliam BygravesBygraves ConceptConcept
1. An entrepreneur is someone who perceives an
opportunity and creates an organization to
pursue it.
2. The entrepreneurial process involves all the
functions, activities and actions associated with
perceiving opportunities and creating
organizations to pursue them.
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Entrepreneurship as anEntrepreneurship as an APPROACHAPPROACH
Adapter- Employs a discipline, precise
methodical approach
- Is concerned with solving,rather that finding problems
- Attempts to refine currentpractices
- Tends to be means-oriented
- Is capable of extended detailwork
- Is sensitive to groupcohesion and cooperation
Innovator- Approaches tasks from unusual
angles
- Discovers problems and avenue
of solutions- Questions basic assumptions
related to current practices
- Has little regard for means, ismore interested in ends
- Has little tolerance for routinework
- Has little or more need forconsensus; often is sensitive toothers
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Entrepreneurship as aEntrepreneurship as a PROCESSPROCESS
1. Initiative
2. Organization
3. Administration
4. Relative autonomy
5. Risk taking
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The Filipino Entrepreneur
Influence by both Spanish and American
colonizers
Entrepreneurship is essentially starting a business
of his own, new and small-scale business Peter
Drucker
Entrepreneurship means or refers to that of being
engaged in small and medium enterprises (SMEs)or establishing and managing a business of his
own.
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The Filipino Entrepreneur
Highly influenced by
Spaniards and Americans
We define it as starting anew, small-scale business of
our own
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The Challenge to Entrepreneurs
Be able to compete in a Borderless World
Before, local producers compete with local
companies Now, they have to compete with International,
Multinational and Giant corporations present
in the local market
Challenge to cast out colonial mentality
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The Challenge to Entrepreneurs
Borderless World should not be taken as a threat
but an opportunity
Challenge to create EXPORT QUALITY products
There are available incentives and support from
government and business groups
Information Technology, Cyberspace and information
highway
Must be closely watched for its benefits can be exploited
by entrepreneurs
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The Challenge to Entrepreneurs
3rd millenium posts a great challenge to
business minded persons with
entrepreneurial orientation.
There is room for innovation, ventures creation,
strategic position and business alliances
No more room for traditional management
systems
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Entrepreneurship and Education
Schools train students for employmentship
unmindful of the benefits of
entrepreneurship
Some schools, who now include entrep in
their curriculim, now calls for a paradigm
shift
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Entrepreneurship and Education
Entrepreneurship is an alternative to college
education Brother Andrew Gonzales
The countrys drop out rate in elementary,
secondary and college education is very high. Of
the 100 students, only about 48 graduate. Of this
number, only 26 enroll and only 16 earn a
degree
Not necessarily bad because many drop-outs did
good, even better than college graduates.
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Entrepreneurship and Education
AIM Program is anchored on:
Self-mastery control of self to control ones
environment
Situation Mastery assess situations and find
opportunities where other see problems
Entreprise Mastery techniques of developing
the enterprise from birth to maturity
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Entrepreneurship and Education
AIM degree looks at entrepreneur in this
context:
Opportunity finder who sees a need, assess the
situation, ventures a risk to fulfill the need andmakes a profit
Innovator who creates new products and services
or expands existing markets
Facilitates enterprise productivity, push sales
thru schemes and strategies
Driven by a strong desire to be successful and
consumed by motivation to excel
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Socio-Economic Benefits
entrepreneur have proven over and over
again to be pioneers who convert ideas into
products and dreams into reality.
Entrepreneurs blend creativity, innovation
and risk taking with hard work to form and
nurture new ventures
Entrep = job providers!
SME coexist with giant corps
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Socio-Economic Benefits
Promotes self-help and employment
Mobilizes Capital
Provides taxes to the economy
Empowers individual
Enhance national identity and pride
Enhance competitive consciousness
Improves quality of life
Enhances equitable distribution of income
and wealth
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Entrep has gone through evolution
Coming from service orientation, it has no
definite bias as to whether it exists for
personal gain or simply providing services in
general
Contemporary views on entrep refers to it as a
kind of culture, traits and attributes of doing
business orrientation someohow in a different
of innovative way and by assuming some level
of risks