Chapter 1 Entrep 100
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Angelie JalandoniChapter 1 Entrep 100
Uploaded by
Angelie JalandoniPresentation Created by: Liezyl A.
Kuhail, MBA
¡ The concept of Entrepreneurship has gone
through an evolution or process that
commenced with providing service in a
feudalistic society.
¡ Even in its early beginnings or inception,
there was no indication that
Entrepreneurship or Entrepreneurism was
not purely a business activity with profit as
the primary motive or purpose.
¡ From the service orientation, it has evolved into
a kind of endeavor still without definite bias as
to whether an entrepreneur exists in the
business that is purely meant for personal gain
(profit) or simply providing services in general.
Nor was there also any categorization that an
entrepreneur is the capitalist or the business
owner and at the same time, the manager
himself, or that entrepreneurship means small-
scale business.
¡ An entrepreneur is a inventor and developer
of ideas, change agent, creative, persistent,
and a class of his own having his own value
system.
¡ Entrepreneurship is now prevalent in various
professions from education, engineering, law,
and other areas of orientation, including
those who never had any formal schooling in
business education.
¡ The characterization of Entrepreneurship, it
is an approach and a dynamic process.
¡ The approach of an entrepreneur is focused
on growth and expansion orientation.
¡ As a dynamic process, an entrepreneur goes
through a stage that is nurtured by his
immediate environment and the kind of
scenarios and experiences he has gone
through.
¡ Entrepreneurship is a culture that is not a fad,
but a very promising career option that can
prepare a person for a prosperous future and
a nation that is progressive and prosperous as
well.
¡ The entrepreneur or entrepreneurship originated in
Europe sometime in the Middle Ages.
¡ The word entrepreneur is a French origin from the
word entreprendre, which simply means “to
undertake”.
¡ From the literature available, it was reported that
early entrepreneurs provided men and materials
needed by feudal lords to wage war against their
enemies.
¡ The emergence of entrepreneur or entrepreneurship
at the height of feudal conflict in France is an
indication that the kind of activity is “provision of
services”,
¡ And there was no hint at that time that
entrepreneurs were doing it for personal gain
or profit.
¡ Other terms of an entrepreneur as “between-
taker” or “go-between”.
¡ Marco Polo, cited as a typical example
reflective of the term, who attempted to
establish trade routes to the Far East during
his time.
¡ The twentieth century saw a number of
scholars focusing their research and studies
on the concept of entrepreneurship. With the
growth of economic offerings in the field of
business, management, and finance, the
subject area of entrepreneurship has been
added to the list of curricular directions
among schools.
¡ Lloyd Shefsky, his practical view on the term
entrepreneur leads to a definition of the word as
someone who enters a business - any business
– in time to form or change substantially that
business nerve center.
¡ Entrepreneurs are Made Not Born, defined
entrepreneur by dissecting the word
entrepreneur into three parts as follows:
§ Entre means to enter
§ Pre means before
§ Neur means nerve center
¡ Karl Vesper, describes an entrepreneur in a
broader perspective by postulating that
entrepreneurship is now concern of various
professions: economist, psychologist,
businessman.
¡ Professor Robert Nelson of the University of
Illinois, defines entrepreneur as “a person who is
able to look at the environment, identify
opportunities to improve the environment,
marshal resources, and implement action to
maximize those opportunities”.
¡ Joseph Schumpeter, in his essay entitled Change
and Entrepreneur, described entrepreneurship
as doing things that are not generally done in
the ordinary course of business routine. It is
essentially a phenomenon that comes under
wider aspect of leadership.
¡ Jeffry Timmons and his co-authors of the book
entitled New Ventures Creation, has described
entrepreneurship as “the ability to create and
build a vision from practically nothing.”
¡ Albert Shapero, definitions of
entrepreneurship that there is an agreement
that we are talking about a kind of behavior
that includes the following:
- initiative taking
- the organizing and recognizing of
social/economic mechanisms to turn resources
and situations to practical account
- the acceptance of risks and failure
¡ Dr. N. A. Orcullo, Jr. – Contemporary
Entrepreneurship – His idea of entrepreneurship
revolves around the notion that:
¡ First, an entrepreneur is someone who perceives
an opportunity and creates an organization to
pursue it.
¡ Second, the entrepreneurial process involves all
the functions, activities and actions associated
with perceiving opportunities and creating
organizations to pursue them.
¡ As an approach, the entrepreneurs considers
the business opportunity as a chance to solve
the problem rather than solving the problem
itself.
¡ As a process, entrepreneurship is a dynamic
process of innovation and new-venture
creation through five major dimensions-
individuals, organization, environment,
process, and institutions which pointed out
by Albert Shapero.
¡ Initiative: an individual or group takes the
initiative.
¡ Organization: resources are brought together
in organization to accomplish some objective
(or the resources in existing organization are
reorganized).
¡ The Current News
¡ https://news.abs-
cbn.com/ancx/culture/spotlight/09/18/20/insi
de-the-big-business-of-plant-selling-in-the-
philippines?fbclid=IwAR0OqTutu2Hyx1LvU_
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