Origin and Nature of

Entrepreneurship

Joana salas 1st reporter

 Evolution of entrepreneurship
The term entrepreneur or entrepreneurship
originated in Europe sometime in the Middle
Ages.
The word entrepreneur is of French origin
from the word entreprendre which simply
means to undertake.
 From literature available, it was reported that
early entrepreneurs provided men, materials
needed by feudal lords to wage war against
enemies.
This kind of activity is called provision of
service .
 Hisrich and Peters
Made an account of the evolution of the
nature of entrepreneur/entrepreneurship.
This authors came up with an overview and
developments of entrepreneurship.
 French: means between-taker or go between.
Middle Ages: actor and person in charge of
large-scale production projects.
17th century: person bearing risks of profit in a
fixed price contract with the government.
1797: Beaudeau- person being risks, planning,
supervising, organizing, and owning.
 1803: Jean Baptiste Say- separated profits of
entrepreneur from profits of capital.
1876: Francis Walker- distinguished between
those who supplied funds and received
interest and those who received profit from
managerial capabilities.
1934: Joseph Schumpeter- entrepreneur is an
innovator and develops untried technology.
 1961: David Mc Clelland- entrepreneur is an
energetic, moderate risk taker.
1964: Peter Drucker- entrepreneur maximize
opportunities.
1975: Albert Shapero- entrepreneur takes
initiative, organizes some social-economic
mechanism, and accepts risk failure.
 1980: Karl Vesper- entrepreneur seen
differently by economics, psychologist,
businesspersons, and politicians.
1983: Gifford Pinchot- entrepreneur is an
entrepreneur within an already established
organization.
 1985: Robert Hisrich- Entrepreneurship is the
process of creating something different with
value by devoting the necessary time and
effort , assuming the accompanying financial,
psychological, and social risks, and receiving
the resulting rewards of monetary and
personal satisfaction.
Characteristics of Entrepreneurs
DATE AUTHOR(S) CHARACTERISTICS
1848 Mill Risk bearing

1934 Schumpeter Innovation;

initiative
1961 Mc Clelland Risk taking:
Need
For
achievement.

1964 Pickle Drive/mental;

human relations;
communication
ability; technical
knowledge.
1985 MacMillan, Familiarity with
Siegel, the market; a
and capacity for
Subba Intense
Narisimha effort; leadership
ability.
1978 Timmons Drive/self
confidence;
goal oriented;
risk-taker,
locus of control;
creativity/
innovative.
1986 Ibrahim Ability to
and Goodwin delegate,
manage
customer, and
employee
relations;
interpersonal
skills.
1989 Wheelen Ability to
and Hunger Implement
strategy with
programs,
procedures,
budgets,
evaluation.
1992 Chandler Self-assessed
and Jansen ability to
recognize
opportunity.

End: joana
salas