Entreprenuership

• Entrepreneur

  • A person who ORGANIZES, OPERATE, AND ASSUMES the RISK of BUSINESS VENTURE
• Entrepreneurs are a person who strongly advocates and practices the concept and principle of Entrepreneurship in operating and managing the self-owned business venture. This venture is called enterprise.
• Entrepreneurship

  • Art of observing correct practices in managing and operating a self-owned wealth. Creating business enterprise by providing goods and services that are valuable to the customers.
• The word "Entrepreneur" came from the French word "Entreprende" means "to undertake"
• Knight (1921) stated that "Having profits from bearing uncertainty and risk".
• Schumpeter (1934) stated that "carrying out of new discover combination of firm organization, new product, new services".
• For Shane (2003) entrepreneurship is an activity that involves the discovery evaluation and exploitation of opportunities to introduce new goods and services. Organizing efforts that previously had not existed
• Kurakto (2009) said that the entrepreneurship is Dynamic process of vision, change, and creation that requires an application of Energy and Passion towards the creation and implementation of new ideas and creative solution.
• According to Dyck and Neubert it is a conceiving an opportunity to offer new or improved goods and services showing the initiative to pursue that opportunity making plants mobilizing the resources to convert the opportunity.
• A Small Business adopts and practices the principles of Entrepreneurship. Owned by one person with "limited workforce" of not more than 20 person.
• The Ordinary Small Business is managed and operated by an owner does not advocate and does not practice the concept and principle of entrepreneurship.
• Social Entrepreneur is a type of Entrepreneur's Field and Expertise that takes advantages of Country's Social Problem and turn them to profitable institution with the intention of helping the disadvantages community rather than making profit.
• Technopreneur

  It is an entrepreneur that puts technology at the core of their model business.
• Extrapreneur who hops from one company to another act as innovation champion, providing creative and efficient solution.
• Intrapreneur is in a large company or corporation who is tasked to think, establish and run a new big idea or project.
• Joseph Schumpeter (1934)

  • It is an Austrian economist who articulated the importance of entrepreneurship to the economy.
  • He stated that "Entrepreneurs HAVE A HUGE IMPACT IN ECONOMIC GROWTH OF THE COUNTRY". Also the entrepreneurial activities have contributed significantly in the wealth of many countries.
• The Roles of Entrepreneurship in the Economic of the Society.

  1. Creates employment
  2. Develops new markets
  3. Introduce Innovation
  4. Generates New Sources
  5. Stimulates investments interest ventures being created.
  6. Improves the quality of life
  7. Serve as role models
  8. Bring Social benefits to the people
  9. Utilizes and Mobilizes indigenous resources
  10. Provide more alternative for consumers.
• Salient Features Of an Entrepreneurship

  1. Art of correct practices
  2. Wealth creating ventures
  3. Providing values to customers
  4. Opening and managing self-owned business
  5. Risk Taking ventures
• It is an art of correct practices

  * It is an art and not a science

  * Not static and stagnant, there is constant change which donates movement and innovation.
• Entrepreneur specific characteristics

  * Optimistic, passionate, and determined

  * Motivated, thought, and pragmatic

  * Brainstorming, taking fairly of the opportunities and resourceful
• These are the Entrepreneurship possible career opportunities

  * Business Consultant

  * Business Reporter

  * Sales

  * Talent Recruiter

  * Not for profit fundraiser

  * Research and Development

  * Teacher