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Entrepreneurship is the ability to create and build an  originated in Europe in the Middle Ages

enterprise from practically nothing, fundamentally a


creative act.  French origin is from the word
“entreprendre”, which means to
Entrepreneurs do build new organization, bring “undertake”
innovations to market, identify market opportunity,
apply expertise, provide leadership, and accepts risk. Entrepreneurial Framework

90% of the world’s jobs are created by entrepreneurs.

Small Business - refers to a business or enterprise that


correctly adopts and practices the principle of
entrepreneurship. It is owned by one person with a
limited workforce of not more than 20 person
Ordinary Small Business - pertains to a business Entrepreneurship as a process and approach
enterprise managed and operated by an owner who is  As a process:
not an advocate of and does not practice the concepts
and principles of entrepreneurship a dynamic process of innovation and new-
venture creation through dimensions-individuals,
The Various Degrees of Creation organization, environment, process and institutions
 New Concept/new Business –  As an approach:
create an entirely new industry considers the business opportunity as a chance
 Existing Concept/ Different Approach – to solve the problem than solving the problem itself,

old concepts but there is something “The entrepreneur differs from the manager or small
new or different or better which is a result of creativity business, not so much on goals or activities, but in
approach in doing business.” Camposano
What is ENTREPRENEURSHIP?
Forms of Entrepreneurship
The ability to create and build an enterprise from
practically nothing, fundamentally a creative act. – 1. Social Entrepreneurship
Donald F. Kuratko Any creative and innovative solution applied to solve
The creation of an innovative economic organization for social problems
the purpose of gain or growth under conditions of risk Involves social mission
and uncertainty. – Marc J. Dollinger
Search for approaches to move poor people out of
 “It is making the world forever new. poverty
 It is taking aggressive actions. Bottom line: people, profit, planet
 ” The Spirit of the Enterprise 2.Business Entrepreneurship
 CREATION OF WEALTH UNDER For profit
CONDITIONS OF RISK
study of systems, structure, and staffing
 creating new business
to make a corporation stay
 modifying an existing business
competitive, innovative, and profitable
 creating new uses, users, usage of a
product on a sustainable basis through keeping the
Origin and nature of Entrepreneurship “Sense of Mission” alive as you grow,
 Evolution re-instilling customer/product vision in every employee,
fostering high-speed innovation, and 2. Creativity - Entrepreneurs need to be able to
think outside the box and find creative ways to
making self-inspired behavior the organization standard solve problems. Creativity is another core skill
Salient Features of Entrepreneurship in humanities.
3. Presentation and Performance - Being an
 Providing values to customers entrepreneur requires the ability to sell yourself
 Wealth-creating venture and your idea, whether to employees, founders,
funders or customers. Having a solid
 Art of correct practices background in writing, presenting and even
performing enhances confidence and "stage
 Risk – taking venture
presence" when pitching or selling.
 Opening and managing self-owned business 4. Competitive analysis - All entrepreneurs need
to know about their competitors and what they
Impact of Entrepreneurship on the economy have done and are doing, as well as an overall
 Reasons why we need Entrepreneurs market analysis. With a humanities
background, these skills are developed along
 90% of the world’s jobs are created by the way.
entrepreneurs Who is an Entrepreneur?
 Source of new products and innovation Common Understanding:
 In the third-world countries, the  The boss, The business owner, The risk
entrepreneurs keep the sagging taker, One who starts a small business,
economies alive The resourceful guy
 It’s the entrepreneurs that keep the What Entrepreneurs do:
economy moving
 build new organization,
 Lessens the dilemma on the lack of job,
self-employment  bring innovations to market,

 Ensuring the welfare of a free  identify market opportunity,


enterprise economic system  apply expertise,
 Socio Economic Benefits  provide leadership,
 Promotes self-help and unemployment  accepts risk
 Mobilizes capital Types of Entrepreneurs
 Provide taxes to the economy Classic Entrepreneurs- who have grown
 Empower individuals their initially small enterprise into a large
enterprise
 Enhance national identity and pride
Corporate Entrepreneurs - individuals who
 Improves the quality of life do not own the firm they work for but use the
entrepreneurial mindset to increase the
 Enhances equitable distribution of
profitability, productivity and professionalism
income and wealth
Social Entrepreneur - individuals who use
People trained in the humanities learn many of the
the entrepreneurial mindset not only to improve
necessary skills as part of their courses.
profitability and productivity but also improve social
1. Observation - Entrepreneurs need to be very equality and environment sustainability
observant, and be able to find ways to adapt
Challenges to Entrepreneur
where necessary. Being able to observe and
interpret art and literature is a core skill in the “borderless world”- predominance of info technologies
humanities. and globalized trading system

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