Entrepreneurship Unit 1 PPT

8/13/2019 Entrepreneurship Unit 1 PPT

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Entrepreneurship

Karla Patricia G. Colmenar


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Introduction

The term Entrepreneuror

Entrepreneurshiporiginated in

Europe sometime in the

Middle Ages.

From the French word

entreprendre, which meansto undertake


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The Evolutionof

Entrepreneurshipand

Contemporary Views


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Evolution of Entrepreneurship

Entrepreneurship refers to undertaking a

business endeavor though there is no specific

reference to whether it meant undertaking

the business for himself (self-owned) or doingit for someone else (employment in a business

enterprise).


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It was reported that early entrepreneursprovided men and materials needed by feudallords to wage war against their enemies.

Its emergence in the height of feudal conflictin France indicates that the kind of activity is a

provisionof services,and there was no hintat that time that entrepreneurs were doing itfor personal gain.


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Entrepreneur can also be translated to meanbetween taker or go-between. An exampleis when Marco Polo attempted to establish

trade routes to the Far East.

In the 20thcentury, entrepreneurship has been

added to the list of curricular directionsamong schools because of the number ofscholars focusing on it.


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Contemporary Views

Lloyd Shefsky, in his book, Entrepreneurs areMade not Born, defined entrepreneur by dividingthe word to 3 parts:

Entremeans to enter Premeans before; and

Neurmeans nerve center

Someone who enters businessany businessintime to form or change substantially thatbusiness nerve center.


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Contemporary Views

Karl Vesper, Entrepreneurship is now a concernof various professions.

Economist: brings resources, labor, materials and

other assets who increases its value. Psychologist: driven by certain forces: need to obtain

something, to accomplish or escape from authority ofothers.

Businessman: threat, aggressive competitor, ally, a

source of supply, customer or someone good to investin.

Capitalist: creates wealth for others, finds better waysto use resources, reduce waste and produce jobs.


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Contemporary Views

Joseph Schumpeter, doing things that arenot generally done in the ordinary course ofbusiness routine.

Jeffry Timmons, the ability to create andbuild a vision from practically nothing. The

vision requires willingness to take calculatedrisks (personal and financial) and doeverything to reduce chances of failure.


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Contemporary Views

Albert Shapero, a kind of behavior that will

include:

Initiative taking

Organizing and recognizing of social/economic

mechanisms to turn resources and situations to

practical account

Acceptance of risks and failures


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Contemporary Views

Entrepreneurship is the process of creatingsomething 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.


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Businessman

VS.Entrepreneur


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Businessman VS. Entrepreneur

Business classified according to ownershipstructure, such as proprietorship, partnership orcorporation. It can also be categorized to

industries which includes trading, servicing andmanufacturing.

Entrepreneurship comes in revolutionary

forms, such as social entrepreneurship,ecopreneurship, technopreneurship andinfopreneurship.

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Starts a business from an

existing idea or concept

Has many business rivals

Focuses on competition

Starts a business from

his own unique idea or

concept

His business rival is

himself

Focuses on cooperation



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Is always busy on his

business busy-ness

Dont have enough time for

his family and personal life

His business gives him a

living

Is only busy in preparing his

new enterprise

Have a lot of time for his

family and personal life

He gives life to his business



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Traditional

Stays safe

Worried

Profit oriented

Innovative and revolutionary

Risk taker and accountable

Excited

People (i.e., employee,

customer, public) oriented

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Has an active income or

profit

Hire people to increasebusiness productivity

A market player

Has a passive income or

profit

Hire people to givethem productivity

A market leader



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Has not yet achieved

financial freedom

Only gives importanceto a part of the business

world (atomistic)

Has achieved financial

freedom

Gives importance to thebusiness world as a

whole (holistic)



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Socio-Economic Benefits from

Entrepreneurship

Entrepreneurs are pioneered converting ideasinto products and dreams into reality.

Entrepreneurs blend creativity, innovation andrisk taking with hard work to form and nurturenew ventures.

They play a major role in providing employmentfor himself and his immediate environment.


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Entrepreneurship

Promotes Self-Help and Employment

The spirit and culture of self-help, self-relianceand self-sufficiency among citizens of nation is

addressed. The entrepreneur helps the

government by providing employment for

himself and to those he employed in the firm.


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Entrepreneurship

Mobilizes Capital

Every person who would put up his businesswill release or mobilize capital that would fire

up the economy. Capital will be pumped into

the financial system and the economy which

will give more business options for others and

more income for the capital owners.


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Entrepreneurship

Provides Taxes to the Economy

Entry of an entrepreneur means another taxsource for the government. They contribute to

the economy.


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Entrepreneurship

Empower Individuals

An indicator of the economic well being of a

person can be gauged by the amount of financial

resources that citizens can accumulate. Due to

the potential of having a higher income than

those employed, the possibility of wealthaccumulation is enhanced together with the

economic standing in society.


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Entrepreneurship

Enhance National Identity and Pride

The quantity and quality of the products of anentrepreneur can be a source of pride and

identity of a country. The country can take

pride of the products as well.


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Entrepreneurship

Enhance Competitive Consciousness

Innovation, being the essence of

entrepreneurship, can be a means of a culture

of competition, which in long term can breed

quality and international competitiveness.


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Entrepreneurship

Improves Quality of Life

The desire of an entrepreneur for innovationand development of a new product, as well as

the creation of new markets can contribute to

better products and services and enhance

the quality of life.


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Entrepreneurship

Enhances Equitable Distribution of Income and

Wealth

With the success of entrepreneurs in their

respective endeavors, chances are that there

will be equal distribution of income and

wealth.


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Challengesto

Entrepreneurs


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Challenges to Entrepreneurs

Borderless World It can be both a

challenge and an opportunity.

Where an entrepreneur used to develop and

market his products locally, he is now faced

with competition not only with local

competitors but with imported products and

services now available in the local market.


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Challenges to Entrepreneurs

By exploiting the cyber space or informationhighway and the various software available inthe market, one can easily network with

foreign markets.

Computers in offices and households

revolutionized business operations andsystems, allowing any place as a base forbusiness operations.


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TheFilipino

Entrepreneur


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The Filipino Entrepreneur

Success stories of Filipino entrepreneurs

focuses on the notion that

entrepreneurship means or refers to that

of being engaged in small and medium

enterprises or establishing and managing

a business of his own.


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Documents

Entrepreneurship Unit 1 PPT