ENTREPOTARAGIZ

• Entrepreneur is a person who organizes, operates, and assume the risk of business venture.
• Entrepreneurship is the art of observing the right practice in managing and operating a self-owned, wealth-creating, business enterprise by providing goods and services to the customer.
• • Entrep in French word is Entreprendre which means "undertake".
• Small business refers to a business or enterprise that correctly adapts and practices principle of entrepreneurship.
• Ordinary small business pertains to business enterprise manages and who is not advocate and does not practice the concepts and principles of entrepreneurship.
• Lesson two is Salient feature of Entrepreneurship.
• Lesson one is understanding Entrepreneurship.
• Entrepreneurship is..

  • is an art practices
  • wealth-creating venture
  • provides valuable goods and services
  • entails opening and managing
  • self-owned enterprise
  • risk taking venture
• Lesson three is Theories of Entrepreneurship.
• Innovation Theory:

  • by Joseph Schumpeter.
  • Joseph Schumpeter is an Austrian Economist.
  • the theory of economic development.
  • has rules: New market, supplier, product, production method, and industry structure.
• Keynessian Theory:

  • by Maynard Keynes.
  • Keynes is a British economist.
  • "The Cultural Theory of Employment, Interest, and Money."
• Alfred Marshal Theory:

  • by Alfred Marshall.
  • Alfred Marshall is an English Economist.
  • "Principles of Economics"
  • has 4 factors: land, labor, capital, and organization.
• Risk and Uncertainty Bearing Theory:

  • by Frank Hyneman Knight.
  • Frank Hyneman Knight is an American Economist.
  • "Risk, uncertainty, and profit"
• Other theories are:

  • Weber's Sociological Theory - Max Weber
  • Kaldor's Technological Theory - Nicholas Kaldon
  • Lieberstein Filling gap Theory - Henry Leibenstein
  • Kirzner's Learning Alertness Theory - Israel Kirzner
• Lesson four is Entrepreneurship and Ordinary Small Business activities
• Motive in opening business:

  • Entrepreneurship: aspiration to successful
  • Small Business: daily expenses
• Perception of Risk in Business:

  • Entrepreneurship: risk taker
  • Small Business: avoid taking risk
• Reaction to changes in Entrepreneurship:

  • Entrepreneurship: bring new ideas
  • Small business: remains passive
• View a competition:

  • Entrepreneurship: healthy competition
  • small business: unhealthy
• Vision for Development and Growth:

  • Entrepreneurship: short brighten plans
  • Small Business: relies luck/chance
• Horizon of Business:

  • Entrepreneurship: thinks globally, act local
  • small business: just local
• Sources of Business Funds:

  • Entrepreneurship: explores ways to generate wealth, both internal and external
  • small business: personal resources/savings
• Entrepreneurship in the Philippine setting is important for individual Filipinos, the local community, and the Philippine economy
• Entrepreneurship provides guidelines for wealth-creating ventures
• It helps improve financial and social life of Filipinos
• Entrepreneurship broadens creativity and contributes to happy, fruitful, and successful lives
• In the local community, entrepreneurship provides employment, creates new market demand, contributes to tax collection, and creates new business opportunities
• In the Philippine economy, entrepreneurship helps find a niche in the world market, facilitates money flow in the local market, and assists the national government in achieving favorable economic ratings
• Sources of entrepreneurial ideas include:
• Changes in the Environment:

  • Entrepreneurial ideas arise from changes in the external environment
  • Physical environment factors include climate, natural resources, and wildlife
  • Societal environment factors include economic, sociocultural, political, and technological forces
  • Industry environment factors include government, competitors, suppliers, customers, creditors, and employees
• Technological Discovery and Advancement:

  • Technological advancements are a good source of entrepreneurial ideas
  • Entrepreneurs identify business opportunities from new technological discoveries
• Government’s Thrust, Programs, and Policies:

  • Government priorities, projects, programs, and policies are sources of entrepreneurial ideas
  • Local and national government initiatives can inspire entrepreneurial ventures
• People's Interest:

  • People's hobbies, interests, and preferences are rich sources of entrepreneurial ideas
  • Business opportunities can arise from catering to people's needs and desires
• Past Experience:

  • Past experiences and exposures are good sources of entrepreneurial ideas
  • Expertise and skills developed in a particular field can lead to opening related business enterprises