Rabuya, Lea Marie Pormiento

BSN-2 (Block 1)

Entrepreneurship is both the study of how new businesses are created as well as the actual
process of starting a new business. According to Stevenson, it is also the pursuit of opportunity beyond
resources controlled. An entrepreneur is someone who has an idea and who works to create a product or
service that people will buy, by building an organization to support those sales.

New businesses stimulate the fair redistribution of wealth and incomes for the interest of the
country through a large population covering a larger geographical area and thus offering benefits to larger
sections of society. Entrepreneurship leads to the emergence of secondary activities and therefore allows
a multiplier effect in the economy. Supporting entrepreneurship in a motivating, innovating and
stimulating environment will result in economic development. The creation of new goods and services
improves the quality of living of companies and individuals. Entrepreneurship helps to eliminate
disparities between regions through an implementation of industry in countryside and areas less
developed. The growth of industries and companies in various fields led to the development of services
such as road, public transportations, health, education and entertainment. The implementation of those
industrial activities resulted in the development of a more vibrant economy.
Rosal, Patricia Marie

BSN-2 (Block 1)

Entrepreneurship is defined as the capacity and willingness to develop, organize and manage a
business venture along with any of its risks in order to make a profit. While definitions of entrepreneurship
typically focus on the launching and running of businesses, due to the high risks involved in launching a
start-up, a significant proportion of start-up businesses have to close due to lack of funding , bad business
decisions, an economic crisis, lack of market demand or a combination of all of these.

Entrepreneurship plays an influential role in the economic growth and standard of living of the
country. Increase in the standard of living of people in a community is yet another key goal of economic
development. The nature of a developing economy is quite different from a developed economy.
Entrepreneurship promotes environmental friendly technologies. The power of economy is, in fact, the
natural consequence of industrial and commercial activities. The industrial development at times builds
to a concentration of economic power of only a few while entrepreneurship and the growth of companies
acts to counter that concentration. Enterprise is a force that multiplies the players of an economy and
reduces the concentration of economic power.