ITS ORIGIN AND NATURE

Evolution of Entrepreneurship
- The term entrepreneur or entrepreneurship originated in Europe sometime in the
Middle Ages.
- There is no controversy that the word entrepreneur is of French origin- from the word
entreprendre, which simply means “to undertake.”
- There was, however, a convergence of views among researches and scholars that
entrepreneurship refers to undertaking a business endeavour though no specific
reference as to whether it meant:
 Undertaking the business for himself or
 Doing it for someone else
- There are also other terms an entrepreneur has, that it can also be translated to mean
“between-taker” or “go-between”, cited by Marco Polo who attempted to establish
trade routes to the Far East during his time.
- The 20th Century saw a number of scholars focusing their research and studies on the
concept of entrepreneurship.

A Chronological List of the Definition of Entrepreneur

 1700’s: Richard Cantillon(1697-1734)

- Entrepreneurs are non-fixed income earners who pay known costs of production
but earn uncertain incomes.
- He coined the term entrepreneur (“go-between” or “between-taker”)

 1803: Jean-Baptiste Say

- He shifts economic resources out of an area of lower and into an area of higher
productivity and greater yield.

 1921:Frank Knight (1885-1972)

- Distinguished between risk, which is insurable, and uncertainty, which is not
- Profit compensates entrepreneur for bearing uncertainty.

 1934: Joseph Schumpeter(1883-1950)

- (1934) Implements change (“creative destruction”) within markets through the
carrying out of new combinations.
- (1942) the entrepreneurial function “does not essentially consist in either
inventing anything or otherwise creating the conditions which the enterprise
exploits. It consists in getting things done.”
- Entrepreneurs are innovators who use a process of shattering the status quo of
the existing products and services, to set up new products, new services.
  1961: David McClelland
- An entrepreneur is a person with a high need for achievement. He is energetic
and a moderate risk taker.

 1964: Peter Drucker

- An entrepreneur searches for change, responds to it and exploits opportunities.
- A quick look at changes in communications- from typewriters to personal
computers to the Internet- illustrates these ideas.
- Innovation is a specific tool of an entrepreneur hence an effective entrepreneur
converts a source into a resource.
- He defined entrepreneur as one who starts his own new and small business.

 1971: Kilby
- Emphasizes the role of an imitator entrepreneur who does not innovate but
imitates technologies innovated by others. Are very important in developing
economies.

 1973: Israel Kirzner

- The entrepreneur is someone who is alert to profitable opportunities for change.
- He or she discovers previously unknown market opportunities, and able to
identify suppliers and customers and act as the intermediary.
- Key characteristic is entrepreneurial “alertness”.

 1975: Albert Shapero

- Entrepreneurs take initiative, accept risk of failure and have an internal focus of
control.

 2013: Ronald May

- An entrepreneur is someone who commercializes his or her innovation.

Contemporary Views on Entrepreneurship

Lloyd Shefsky, in his book entitled, Entrepreneurs are Made Not Born, defined
entrepreneur by dissecting the word entrepreneur into three parts as follows:
 Entre means to enter
 pre means before; and
 neur means nerve center
It leads to a definition of the word (entrepreneur) as someone who enters a
business – any business- in time to form or change substantially that business nerve
center. All that matters is that individuals develop or change the nerve center of the
business.
Karl Vesper describes an entrepreneur in a broader perspective by postulating that
entrepreneurship is now a concern on various professions.
 To an economist, an entrepreneur is one who brings resources, labor,
materials, and other assets into combinations that make their value
greater than before, and also one who introduces changes, innovation,
and a new order.
 To a psychologist, entrepreneur could refer to such as a person as
typically driven by certain forces: need to obtain or attain something, to
experiment, to accomplish, or perhaps to escape from authority of others.
 To one businessman, an entrepreneur appears as a threat, an
aggressive competitor, whereas to another businessman, the
entrepreneur may be an ally, a source of supply, a customer, or someone
good to invest in.

Professor Robert Nelson of the University of Illinois defines entrepreneur as “a person

who is able to look at the environment, identify opportunities to improve the environment,
marshal resources, and implement action to maximize those opportunities.”
Joseph Schumpeter, in his essay entitled, Change and Entrepreneur,described
entrepreneurship as doing things that are not generally done in the ordinary course of
business routine.
Jeffry Timmons and his co-authorsof the book entitled New Ventures Creation, has
described entrepreneurship as “the ability to create and build a vision from practically
nothing.”
Albert Shapero who has studied other works on entrepreneurship has opined that in all of
the definitions of entrepreneurship, there is an agreement that we are talking about a kind
of behaviour that includes the following:
 Initiative taking
 The organizing and recognizing of social/economic mechanisms to turn
resources and situations to practical account
 The acceptance of risks and failure

Entrepreneurship is the process of creating something different with value by

devoting the necessary time and effort, assuming the accompanying financial,
psychic, and social risks, and receiving the resulting rewards of monetary and
personal satisfaction.

Dr. N. A. Orcullo, Jr., in his book Contemporary Entrepreneurship, mentioned William

Bygrave about his recent studies on entrepreneurship declaring the last decade of the
 20thcentury as the entrepreneurial age. His idea of entrepreneurship revolves around the
notion that:
 First, an entrepreneur is someone who perceives an opportunity and
creates an organization to pursue it.
 Second, the entrepreneurial process involves all the functions, activities,
and actions associated with perceiving opportunities and creating
organizations to pursue them.

Entrepreneurship is a Process and Approach

- As an approach, the entrepreneur considers the business opportunity as a chance to
solve the problem rather than solving the problem itself.

- As cited by Hisrich and Peter, the growth orientation can be measured in terms of
owner’s intention when starting the business, their propensity for fostering the firm’s
growth, or their initiation of strategic plans designed to promote growth in the firm.

- Albert Shaperopointed out that entrepreneurship is a dynamic process of innovation

and new-venture creation through five major dimensions- individuals, organization,
environment, process, and institutions.

The Filipino Entrepreneur

- With the influence of western culture, having been previously colonized by Spain
who introduced trading business, as well as having been colonized, too, by the
Americans, it can be expected that in the realm of entrepreneurship, that Filipinos
stand to duplicate how its former colonizers really undertake its business.
- The generic views about entrepreneurship in the U.S., according to Dr. Orcullo, Jr.,
as reported by Peter Drucker, “entrepreneurship is essentially starting a business of
his own, new and small-scale business.”

Filipino Values Favorable to Entrepreneurship

1. “Pakikipagkapwa” (social interaction) values promote ideals of entrepreneurship.

2. Many values promote risk-taking or “lakas ng loob”.
Conditions of Uncertainty:
a. “Bahala na” (come what may)
b. “Pakikipagsapalaran” (venturesome)
c. “Gaya-gaya” (Imitation)
d. Close family ties
 e. “Utang na loob” (debt of gratitude)
f. “Hiya” (shyness)
g. “Bayanihan” (Unity: One for All, All for One)

3. Other values drive us to succeed in enterprise.

a. “Kasipagan” (industriousness)
b. “Pagtitipid” (thriftiness/frugality)
c. “Pagtitiis” (endurance)
d. “Patitimpi” (self-control)

4. “Katapatan” (honesty) as a value promotes ethical business standards and practices.

5. Our values promote labor-management relations:
a. Concern
b. Mutual help
c. Camaraderie
6. Our values promote social mobility.

The Challenge to Entrepreneurship

- Unlike the previous decades where technology, globalization, and trade liberalization
did not play a dominant role, the 3rd millennium is mainly characterized by globalized
trading system and the predominance of the revolutionary information technologies.
- The real challenge for the entrepreneuristic persons and organizations is in the so-
called “borderless world”. (Dr. Orcullo, Jr.)
- Filipino entrepreneurs are now facing not anymore with Filipino entrepreneurs
themselves, but also with imported products and services now available in the local
market.
- Filipino entrepreneurs have to contend with casting out the colonial mentality of the
local market with its preference for imported brands.
- Entrepreneurship and innovation are important tools for productivity and
competitiveness vis-à-vis the large business organizations and the foreign competitors
in general.

Entrepreneurship and Philippine Education

- With the perennial problem on unemployment, a self-employment and livelihood
opportunity for every citizen is the cry of politicians and the unemployed.
- There are indications that entrepreneurship education is seeping into the Philippines’
educational system at the secondary level.
- In fact, some vocational courses/subjects and books at the secondary level include
chapters dealing with entrepreneurship.
 - Former Education SecretaryAndrew Gonzalez said that college education “is not a
right of every citizen” as he suggested that higher education was better left to students
who have aptitude and talent for it.
- 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
in some ways acknowledge entrepreneurship as part of the management education.
- Recently, the Society for Entrepreneurship Education, Inc. (SEED)has come into
the arena of further promoting entrepreneurship education both in the formal and non-
formal sectors.

Socio-economic benefits from Entrepreneurship

Early economists recognized the essential role of the entrepreneur in ensuring the
welfare of a free enterprise economic system.

Entrepreneurs have proven over and over again to be the pioneers who convert ideas
into products and dreams into reality. Entrepreneurs blend creativity, innovation and
risk taking with hard work to form and nurture new ventures.

 Today, entrepreneurs play a major role as a provider of employment for the

entrepreneur himself and his immediate environment.
 Promotes self-help and unemployment
 Mobilizes capital
 Provides taxes to the economy
 Empower individuals
 Enhance national identity and pride
 Enhance competitive consciousness
 Improves quality of life
 Enhances equitable distribution of income and wealth
THE PHILIPPINE ECONOMY: HOW DOES AN ECONOMY GROW

The Philippine Economy

1.The national economy is composed of business enterprises, household, and the government.
2. There are economic freedoms, like free competition, free choice of investments, and the prices,
which are determined by the interaction between demand and supply.
3. In economic development, knowledge, skills, values, and the quality of people are the main
determinants of economic growth.
4. There were inhabitants in the Philippines about 250,000 to 300,000 years ago. They arrived from
other countries through the land bridges. They had primitive economic existence. More civilized
migrants came in later years.
5. The Philippines was a slave of three colonial masters: the Spain, United States, and Japan.
Nevertheless, the Chinese dominated the retail trade even before the Spanish time. The Spanish
rule introduced the tobacco monopoly and galleon trade for the benefits of top-ranking Spanish
citizens.Similarly, the Americans exploited our agricultural economy. Japancompletely ruined our
economy.
6. The Philippine Government got its political independence in July 4, 1946, but not economic
independence from the U.S. The import control program (Filipino First Policy of 1958- granted the
Filipinos preferential treatment in the Philippine economy) of President Carlos P. Garcia gave a
breathing space for Filipino entrepreneurs. However, this did not last (only for seven years)
because the U.S had its own way of dominating the Philippine economy.
7. Under the Martial rule, the friends of the Dictator controlled Philippine business.Democracy was
restored finally upon the assumption of Corazon Aquino (the Mother of Democracy) as president.
Under her administration, the engine of economic development has been assigned to the private
business sector. The Ramos government has sustained most of the good programs of the Aquino
administration.
8. The national government, in its effort to alleviate poverty, has been promoting the growth of
entrepreneurship. It has several financial and technical assistance programs for the poor who
are interested in putting up their micro businesses. Even some NGOs are actively involved in
entrepreneurial projects for the poor.

The Role of Entrepreneurship in Economic Development

1. Entrepreneurship offers an economical and faster method of distributing goods and services that
accelerates economic development.
2. Entrepreneurship is capable of generating more jobs, income, goods, and services.
3. Entrepreneurship improves the quality of life.
4. Entrepreneurship contributes to more equitable distribution of income, and therefore, eases
social unrest.
5. Entrepreneurship utilizes and mobilizes resources to make the country productive.
6. Entrepreneurship brings social benefits through the government.
7. Entrepreneurship has several definitions. Any person who takes the risks and invests his
resources to make something new or better is engaged in entrepreneurship. This applies not only
to business, but also to social services.
8. Economic development is a process, while economic growth is a product of economic
development. Both economic and non-economic factors constitute the determinants of economic
development. In less developed countries, economic development refers to the progressive
process of improving human conditions by reducing or eliminating poverty, disease, injustice,
illiteracy, and exploitation.
9. Development and Growth Theories
a. Laissez-Faire Theory (French words, an economic freedom) explains that the
government should not interfere in economic activities.
b. Keynesian Theory explains that the government should play the key role in economic
development.
c. Ricardian Theory. This is the theory of David Ricardo focusing on agriculture playing the
major role in economic development.
d.Harrod-Domar Theory, conceptualized by Sir Harrod of England and Prof. Domar of the
U.S., claims that more products can be produced through the use of machines.
e.Kaldor Theory, by Nichols Kaldor, maintains that the key factor is technology. This theory
explains that the application of modern technology in the production of goods and services
has been responsible for the economic success of the highly developed countries.
f. Innovation Theory, developed by Joseph Schumpeter, stresses the role of innovators or
entrepreneurs in economic development.
10. The contributions of entrepreneurship are: 1) development of new markets, 2) discovery of
new sources of materials, 3) mobilization of capital resources, 4) introduction of new technologies,
and 5) creation of employment.
11. There is a need for a Filipino entrepreneurial economy. This means our productive resources
should be in the hands of Filipinos for their own benefits. A reasonable economic nationalism
should dominate our business culture for our own prosperity as a nation. Schools should stress the
value of entrepreneurship based on just economic nationalism.
12. The government can support entrepreneurs from their various assistance programs on the
following: Peace and Order, Political Stability, Price Stability, Taxes, Infrastructures, Education and
Training, Public Administration, Production Technology, Marketing Assistance, and Financial
Assistance.
13. We have seen that entrepreneurship directly affects the social and economic development of
people. The more society engages in entrepreneurial undertakings, the more it is likely to develop
economically and socially. Our country still has a long way to go in order to catch up with more
developed countries.

How does an economy grow?

A. Theories of economic growth may be classified into3 (three) broad groups:
1. Once group consists of theories viewing economic growth as a natural and inevitable
process.
2. The second group of theories explains economic development as a rational process
brought about when men respond to opportunities in the environment so as to promote their
own self-interest or social welfare.
3. The last group of theories views economic development as a result of seemingly
economically irrational yet psychologically and sociologically satisfying activities of
enterprising men.
B. General explanations of economic development
1. Economic development proceeds according to a master plan or “Law of Nature.”
2. Economic development is brought about by an “Invisible Hand.”
3. Economic development is brought about by “Cultural Diffusion.”
4. Racial heritage determines the economic development of people.
5. Climatic conditions determine the energy levels of people and in turn its rate of
development.
6. The challenge of the natural environment is responsible for the rise of civilization.
C.Economic explanations of economic development
1. Technology improvements and division of labor lead to development
2. Population changes affect development.
3. Entrepreneurship is an important factor in development.
D.Socio-Psychological explanations of economic development
 1. According to the work of Talcott Parsons, individuals in modern societies are:
a. unemotional;
b. interested in themselves;
c. able to relate to others in terms of their social roles or their ability to do a job;
d. known for their accomplishments; and
e. able to relate to others in specific economic terms.
2. In contrast, members of traditional societies tend to:
a. be emotional;
b. be more interested in the general welfare of the community;
c. relate to others in terms of their unique qualities;
d. be known for who they are; and
e. tie up economic relationships with all sorts of other relationships involving
kinship and political, religious, and other social structures.

ATTRIBUTES, QUALITIES, AND CHARACTERISTICS OF AN

ENTREPRENEUR

 Self-awareness
 Self-motivated
 Courage
 Confidence
 Positive thinkers.
 Patience
 Decisive
 Experience
 Knowledge
 Information-Seeking
 Perseverance
 Drive
 Risk-Taking
 Innovative
 Opportunity-Seeking
 Demand for efficiency and quality
 Systematic planning and monitoring
 Persuasion and networking
DEVELOPING YOURSELF FOR ENTREPRENEURSHIP
a. Be Creative
- Remember that creativity is within you; it is within all of us. We use it all the time. It is
free. It can work for us, regardless of what we are doing-we can exercise creativity.
b. Actively Seek Opportunities
If you will go into business, opportunity-seeking is very important. It will help you in many
ways.
 If you actively seek opportunities, you will find customers or markets where other
people find one.
 If you actively seek opportunities, you will find new uses for old products,
including waste products.
 If you actively seek opportunities, you will find new ways of doing things.
 If you actively seek opportunities, you will find new products for old markets or
customers.

c. Take Moderate Risks

What must you do to be a moderate risk-taker? Here are some suggestions:

1. Assess the situation carefully.
2. Find out if your actions will have negative side-effects. A moderate risk-taker must be
prepared to cope with these possibilities.
3. Ask for advice from knowledgeable people. A high risk-taker may think that he can do
business without anyone’s help. A moderate risk-taker will get all the advice and
information he can get to ensure that he succeeds.
4. Plan for contingencies. Success in risk-taking is to be well-prepared for all
eventualities.

d.Practice Persistence
If you feel being persistent is difficult, you must realize these three things:
1. Do not give in quickly when someone disagrees with you. If you are sure of your
stand, do not give in to what other people say without thinking about it.
2. If you get angry at someone who stubbornly disagrees with you, your persistence will
wear off quickly because you will be concentrating on your anger. On the other hand,
if you stay cool and composed, you will be persuasive, convincing, and credible.
3. Face the opposition squarely and openly. Avoid “behind the back” tactics.

e. Be committed to What You Set Out to Do

Here are some guidelines that may help in building your commitment to work contract:
1. Have strength of character
2. Only make promises you can keep
3. Know what to do when you cannot keep a promise
4. Cultivate the trust of others
5. Clarify expectations
6. Apologize sincerely

f. Set High Standards of Quality and Efficiency

Here are behaviours that can help you achieve quality and efficiency in business
and other aspects of your life:
1. Consistency is important
2. A neglected and dissatisfied customer might never return
3. Devotion to quality and efficiency must become a way of life for you and your
workers
4. Use appropriate technology to help you
g. Seek Information
- Knowledge is power. You need information to get wind of business ideas and
opportunities.
- Many entrepreneurs get information by joining industry chambers where they get to
exchange experiences and know-hows with other entrepreneurs in the same or similar
business.
- If you are a student, join business-oriented groups like Junior Achievers Society and
Young Entrepreneur clubs. Tune in to business-oriented programs on television and
radio. Sign up for entrepreneurship seminars and courses. Talk with relatives and friends
who are already in business. Ask questions.

h. Believe in Yourself

Entrepreneurs are rather self-confident people. They believe that they can achieve their
goals. So must you. If you don’t have faith in yourself, no one else will. For you to
make things happen, you must first recognize that you can do so, and nobody else can.

Here are some ways to develop your self-confidence:

 Know as much about yourself as you can
 Look at your qualities in a realistic manner
 Emphasize your strengths and play down your weaknesses by choosing
activities and goals where you do best
  Take care of yourself physically so that you look good to yourself and to
others

SEARCH FOR BUSINESS OPPORTUNITY, IDEATION,

INNOVATION, AND CREATIVITY

The Search for Business Opportunity

In discovering business opportunities, the following factors on resources have to be evaluated:
1. Markets. This refers to the number of prospective buyers, competitors, the price, and the
quality of goods and services that have to be analysed.Business opportunities exist in areas
where consumer satisfaction is weak or incomplete.
2. Individual Interests. Business interest of individuals should match business opportunities.
3. Capital. This serves as the fuel that keeps the business operating. The availability of funds
should fit the type of business to organize.
4. Skills. The entrepreneur should have the proper skills in the business he is going to undertake.
5. Suppliers of inputs. It is important that there are steady suppliers of raw materials and other
inputs to the business.
6. Manpower. The success of any business also depends on the efficiency of its employees.
7. Technology. Entrepreneurs should be aware of the presence of technology to improve their
products or services, or introduce new innovations in the market.
Among the productive resources, people are the most important because they are the ones
who organize and manage the other productive resources such as money, materials,
machines, and manpower.

Other opportunity-seeking processes that can guide a prospective entrepreneur as to what kind of
business to establish are as follows:
1. Look at other successful businesses/entrepreneurs
2. Respond to a problem area
3. Home-Based Business Options
4. Linkage of Resources

The best way to evaluate business opportunity is through Market Research, which is defined as
the study of all problems in marketing a product.
The Steps in Market Research are:
 Defining the problem
 Making a preliminary investigation
  Planning the research
 Gathering the data
 Analysing the data
 Reaching a conclusion
 Implementation and evaluating decision
Through Market Research, the entrepreneur can be guided in identifying the profitable
markets, saleable products, the strengths and weaknesses of competitors, available resources,
business risks, trends in consumer tastes and preferences, better marketing strategies, proper
business location, new market opportunities, and realistic objectives.
According to Fajardo, products have their own life cycle. It is composed of four stages:
Introduction, Growth, Maturity, and Decline.
The Product Life Cycle
 Introduction. If consumer awareness and acceptance are low, launch through the
use of marketing activities, which make the profit low due to cost of development
and marketing activities.
 Growth. To meet the growing demand, product distribution is expanded. Sales
rise rapidly as product becomes popular.
 Maturity. Sales are still rising, but rate of increase has declined. At the latter part,
a sale reaches its peak, while profit begins to fall.
 Decline. There is a sharp fall in sales volume, while profit curve becomes almost
flat or horizontal. There is also decline in the number of competitors. The only
survivors are those who specialize in marketing the product. Once product is no
longer profitable, it is eliminated from the market.
Venturing into a business project demands a timely and clear decision as to which area or
business concern to deal with. In the selection process, one has to begin with choosing or focusing
on a particular business by category or sector:
 The service-based business
 Trading or product-based business
 Manufacturing business
 Licensed business opportunities
 Distributorship
 Rack Jobber
 Wholesalers
 Subcontracting
 Vending machines routes

Ideation
Ideas that are worth a business should be the one that has a market now and in the future.
 This could be a product, a service system, and the like, which could fall in any of the
following categories:
a. Need/want drives
b. Time-saving drives
c. Money savings
d. Unique or incorporating strong competitive advantages
e. Link to personal interest, preferably passion

The most common way of developing ideas is as follows:

 Recognizing the need
 Improving an existing product
 Recognize trends
 Be aware of everything
 Questions and assumptions
 Naming it first, then, develop it

Tips in evaluating ideas:

 Do not let your idea follow money, let money follow your idea
 See yourself as a problem solver
 Use research as a weapon against failure
 Make sure your idea has longevity
 Take a risk on your ideas
 Test your idea against the past, present, and future
 Know the idiosyncrasies of your market

Ways to protect ideas:

a. Confidentiality Agreement. It specifically provides that a signer will not share the idea to anyone.
b. Patents. These gives the investor exclusive legal rights to exclude anyone else from
manufacturing, selling, importing, or using an invention during the life of the patent. The three
general classifications are: Design, Utility, and Plants Patent.
c. Trademarks. This is a word, name, symbol, or device used by manufacturers on merchants to
identify their goods and distinguish them from others sold in the market.
d. Copyrights. A copyright protects the creative works of composers, authors/writers, artists, and
others. This is the easiest form of protection for Intellectual Property.

Entrepreneurial Creativity
Creativity, innovation, and entrepreneurs are inseparable. Creativity is an essential part of
innovativeness, the starting point of a process, which is skilfully managed, and brings an idea into
innovation. It is considered as a characteristic that is innate or inherent to every individual, but the social
environment can influence both the level and frequency of creative behaviour. It is particularly important to
understand the role the environment can play.
Environmental Stimulants to Creativity
a. Freedom – a sense of control over one’s work ideas
b. Good Project Management – a manager serves as a good role model
c. Sufficient Resources – access to necessary resources
d. Encouragement – management enthusiasm for new ideas
e. Various Organizational Characteristics – a mechanism for considering new ideas
f. Recognition – a general sense that creative work will receive appropriate feedback,
recognition, and reward
g. Sufficient time – time to think creatively about problem
h. Challenge – a sense of challenge arising from intriguing nature of the problem itself
i. Pressure – a sense of urgency that is internally generated from competition as a personal
sense of challenge
j. Outside Organization – from a general desire to accomplish something important

The Concept of Innovation

Innovation is doing something different. It could be introducing either something new or
different. Innovativeness is a characteristic of an individual, team, or organization. This is also the
capacity to create ideas and develop them to usable products or services.

Impacts of Innovation
1. Effecting a new policy – creating change or orientation or direction
2. Finding new opportunities – developing an entirely new product or opening a new market
3. Designing a new structure – changing the formal structure, reorganizing or introducing a
new structure
4. Devising a fresh method – introducing a new process, procedure, or technology for
continued use
The elements of Innovation Orientation
a. Value placed on creativity and innovation in general;
b. An orientation towards risks;
c. A sense of pride in the organization and its members, and the enthusiasm about what they
are capable of doing; and
d. An offensive strategy of taking the lead towards the future.

Source:Winefreda T. Asor, Ph.D., Entrepreneurship in the Philippines Setting, Biz-Acctg series, 2009, Rex Book Store, Inc. (RBSI), Manila,
Philippines. (Reprinted: April 2015)
 INTRODUCTIONto
ENTREPRENEURSHIP
 Prepared by

The Department of Marketing

College of Business Administration and Accountancy
Mindanao State University
Marawi City