 Entrepreneur or Entrepreneurship originated

in Europe sometime in the Middle Ages.

 Entrepreneur originated from the French word

“Entreprendre” which means to undertake.
 Entrepreneurship
◦ The ability of the individual to determine and come
up with the proper combination of the resources
available in his environment and transform this into
an output of either goods or services, and obtain a
fair profit at the price the entrepreneur sets.
 JEAN BAPTISTE SAY  Entrepreneurship
 (1800) refers to the shifting of
economIc resources
out of an area of lower
and into higher
productivity and
greater yield.

Contributor / Year Contribution

 CARL MENGER  Entrepreneurship
 (1871) involves obtaining
information,
calculations, an act of
will and supervision.

Contributor / Year Contribution

 HARVEY LEIBENSTEIN  Entrepreneurship is the
 (1970) reduction of
organizational
inefficency.

Contributor / Year Contribution

 JOSEPH SCHUMPETER  Entrepreneurship is, in
 (1910) its essence, the finding
and promoting new
combinations of
productive factors.

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 ISRAEL KIRZNER  Entrepreneurship is
 (1975) identification of market
arbitrage opportunity.

Contributor / Year Contribution

 ALBERT SHAPIRO  Entrepreneurship involves
 (1975) a kind of behavior that
includes initiative taking,
organizing and
recognizing social
mechanism to turn
resources and situations
so practical account, and
the acceptance of risk and
failures.

Contributor / Year Contribution

 KARL VESPER  Entrepreneurship is the
 (1980) dynamic process of
creating incremental
wealth.

Contributor / Year Contribution

 W. ED MC MULLAN  Entrepreneurship is the
AND WAYNE A. LONG building of new growth
 (1990) organization.

Contributor / Year Contribution

 HOWARD STEVENSON  Entrepreneurship is the
 (1992) pursuit of opportunity
beyond the resources
currently under one’s
control.

Contributor / Year Contribution

 JEFFRY TIMMONS  Entrepreneurship is the
 (1994) ability to create and
build a vision from
practically nothing.

Contributor / Year Contribution

 PETER DRUCKER  Entrepreneurship is the
process of starting one’s
 (1998) own new and small
business. It is also the
process of innovation and
new venture creation
through four major
dimensions – individual,
organizational,
environmental, process –
aided by collaborative
networks in government,
education and institutions.

Contributor / Year Contribution

 ROBERT HISRICH  Entrepreneurship involves
 (2001) the creation process,
requires the devotion of
the necessary time and
effort, assumes the
accompanying financial,
psychic and social risks,
and receives the resulting
rewards of monetary and
personal satisfaction and
independence.

Contributor / Year Contribution

 Approach
◦ The entrepreneur considers the opportunity to solve
the problem rather than solving the problem itself.

 Process
◦ Entrepreneurship is a dynamic process of innovation
and new – venture creation through the five major
dimensions: individuals, organizations,
environment, process and intuitions.
 Findings in the 2006 Global Entrepreneurship
Monitor (GEM) Research Consortium:

◦ Four out of ten adult Filipino are engaged in business.

◦ About half are in the early – stage entrepreneurial
activity (Total Early Stage Activity – TEA).
◦ 19.7% (9.5 million) comprise the country’s established
business.
◦ Mindanao has the higher TEA while Northern Luzon
has the lowest.
◦ Most of the businesses are in consumer oriented with
35%.
 Findings in the 2006 Global Entrepreneurship
Monitor (GEM) Research Consortium:

◦ Motivated by Necessity (54%) and opportunity motivations

(37%).
◦ Face stiff competition (75%), lack novelty (71%), lack new
technology (67%), not employing (63%), and not exporting
(77%).
◦ Only 8 out of 10 have discontinued a business in the past
12 months.
◦ Only 34% have dealings with banks.
◦ Only 17 who receive remittances use then to finance
business.
◦ Only 1% are non – owner investors.
 “Borderless World” – globalized trading system
◦ The Filipino entrepreneur who used to develop and
market products locally is now faced with local
competition with both Filipino and foreign products
and services which are now available in the market.
◦ The Filipino entrepreneur has to contend with
casting out the colonial mentality of the local
market with its preferences for imported goods.
◦ Filipino entrepreneurs have the chance of
developing and marketing export – quality products
awing to the various incentives and support
available.
 “Cyber space or information highway”
◦ The resurgence and constantly improving
information technology sector is a development to
watch and its benefit for entrepreneurs to grab and
exploit.
◦ By exploiting the benefits of information
technology, and the various software available in the
market, one can easily network with the foreign
markets.
◦ The proliferation of computers both in offices and
households has revolutionized business operations
and system, allowing every place practically a base
for business operations.
 The inclusion of entrepreneurship education
at the secondary level. Vocational
courses/subjects and books at the secondary
level include chapters dealing with
entrepreneurship.
 Courses leading to specialization on
entrepreneurship or major area of study
subsumed under the course leading to a
degree in business management or business
administration.
 The Council of Management Educators (COME),
comprising of academicians, has some way
acknowledged entrepreneurship as part of the
management education.

 The Society for Entrepreneurship Education, Inc.

(SEED) has come into the arena of further promoting
entrepreneurship education both in formal and
non-formal sectors and a number of entrepreneurs
themselves who continually talked it and unwillingly
share their experiences and expertise, hoping that
doers and believers of entrepreneurship will
multiply in number.
 The Commission on Higher Education (CHED) has
pushed the formal integration of entrepreneurship
education pursuant to Republic Act No. 7722 as
embodied Memorandum Order No. 17 (CMO # 17)
series of 2005 – Curriculum Requirement for
Bachelor of Science in Entrepreneurship (BS
Entrepreneurship).

 Some schools have integrated entrepreneurship as

a track or major subject.
 Promotes self-help and employment
 Mobilize capital
 Provides taxes to economy
 Empowers individual
 Enhances national identity and pride
 Enhances competitive consciousness
 Improves quality of life
 Enhances equitable distribution of income and
wealth.