-------------- Concept of Entrepreneurship --------------

PPT:
“I think it is possible for ordinary people to choose to be extraordinary.”
- Elon Musk, CEO SpaceX, Tesla, The Boring Company, Neuralink, and PayPal
REVIEWER:
“The ENTREPRENEUR always search for change, responds to it, and exploits it as an
opportunity.”
- Peter Drucker
ENTREPRENEUR
- Entreprendre “to undertake” (french)
- the founder and creator of the enterprise who makes use of the opportunities that abound to
start or grow a business, knowing that there are risks involved in such undertaking
- a person who recognizes a business opportunity and organizes, manage, and assumes the risks
of starting and operating a business
ENTREPRENEURSHIP
- art of observing (ethical duty such as:
- assuring customer of best quality products
- safe to consume and use
- assure everyone that the raw materials come from reliable sources
- to maintain transparency(proper price, proper markup)
- practicing yourself to be showcased(since you include your character to that product)) correct
practices in managing and operating a self-owned wealth-creating business enterprise by
providing goods and services that are valuable to the customers. Small Business and Ordinary
Small Business
- the process of recognizing an opportunity, testing it in the market, and gathering the
resources necessary to go into business
- often perceived to be the symbol of business innovation, preservation, and achievement

ENTREPRENEURIAL ACTIVITY / ENTREPRENEURSHIP ACTIVITIES

- responds to policies that ensure the protection of new ideas, facilitate access to capital and
talent, and allow the management of risks
- thrive in societies with supportive government policies and which give much importance to
innovativeness and risk-taking to turn new ideas into breakthrough solutions
Small Medium Enterprises (SMEs) are concrete manifestations of Entrepreneurship. SMEs
account for more than 90% of all jobs, sales, and values added.

Concept of Entrepreneurship in the Philippines

developing countries developed
SMEs account for more than 90% of all jobs, sales, and value added countries
(because it is highly dependable on Filipino consumers, we are conscious they account for
of our purchases (small, in multiple quantities but consumed in small only over 50% of
 scales, and repetitive, that is why large percentage) that is also why these measures
daghan sari sari stores)

----------------Definition of Entrepreneurship Through the Years----------------

CONTRIBUTOR DEFINITION
Knight (1921) Profits from bearing uncertainty and risk
they were
Schumpeter (1934) Firm organizations conceptualized for
New products survivability
ex. canned goods - for
New services soldier traveling in wars
New sources of raw materials
New methods of production
New markets
New form of organizations
Hoselitz (1952) Introduction of innovation
Cole (1959) Purposeful activity to initiate and develop a profit-oriented war - pushed business
innovation to
McClelland (1961) Taking moderate risk its breaking
Shapero (1975) Initiative talking point(positive
and negative)
Organizing and reorganizing economic mechanisms
Acceptance of risk failure
Casson (1982) Decisions and judgements about the coordination of scarce resources
Ronstadt (1984) Valuable goods and services
Drucker (1985) Behavior over personality. Concept and theory over intuition
Gartner (1985) Creation of new organization
Hisrich & Brush New products and services with value resulting in rewards of monetary
(1985) and personal satisfaction (consumers’ perspective) introduction
Stevenson & Pursuit of opportunity (attitude / characteristics of an Entrepreneur)
to technology
Grousebeck (1989)
Hart, Stevenson, & Pursuit of opportunity based on the founder’s previous choices and
Dial (1995) industry-related experience
Shane (2003) An activity that involves discovery, evaluation, and exploitation of
opportunities to introduce new goods and services
concept of behavior and personality of running a business
Kuratko (2009) Dynamic process of vision, change, and creation
Dyck and Neubert Conceiving an opportunity to offer new or improved goods and
(2012) services, showing the initiative to pursue that opportunity, making
plans, mobilizing the resources necessary to convert the opportunity
into reality

Although each of these definitions’ views entrepreneurship from a slightly different

perspective, they all contain the following common elements:
Innovation Opportunity Resource Encountering Economic
Making seeking and mobilization risks and and personal
products and exploitation Involving use uncertainties rewards
services Market of and Facing and Giving back
 valuable circumstances maximizing addressing to the
introducing making it existing concerns of community
improvements, possible to do resources. the business’ while
new methods, and achieve profitability. enjoying the
and ideas. something. opportunity
to create an
Enterprise.

---------------- A Brief History on Entrepreneurship in the Philippines ----------------

99.7% of all firms operating in the country are small and medium enterprises employing 67% of
the labor force, and 47% of the 803,476 registered establishments are SMEs owned by women

---- 2004 to 2010 SME Development PLAN identifies the following specific programs to promote
Entrepreneurship -----
1. Provision of Business Opportunities
2. Strategic Business Plan
3. Product Development and Design Services
4. Support to Start-up Enterprises in Selected Areas
5. Business Opportunity and Enterprise Creation Approaches
6. Entrepreneurship Training Camps and Enterprise Development Programs
7. Business Opportunity Development and Investment Promotion for Innovative Ideas
8. Institutionalization of the SME Opportunities Caravan
9. Franchising Seminars
10. Cooperative Business Development Program