RICHARD E.

EMPLEO
1. The Evolution of Entrepreneurship

EVOLUTION OF
ENTREPRENEURSHIP

Earliest period began early as Marco Polo who is a merchant adventurer,

Earliest Period during this time trade were very active. The goods from the capitalist
were sold by a merchant and when the goods were all sold the capitalist
will have the 75% profit while the merchant received 25% from the profit.

The entrepreneur is involved in the production. Entrepreneur in this age

Middle ages have control and authority of the construction works like public buildings
and churches. Priest were the entrepreneur during this age.

Entrepreneurship in this period are related with the relationship between

risks and entrepreneurs. There is a contract which is in a fixed price and
17th Century signed of agreement in providing service or supplying products and
entrepreneurs during this period were responsible for the gains and loses
of the business

During the 18th century industrialization are occurring around the world
that is why there is the differentiation of capital from the person who has
18th Century capital which is the entrepreneur to the one who needed the capital.
Thomas Edison and Eli Whitney were the prominent inventors in the
industrial revolution in fact Edison developed technologies who happens
to be the capital user or the entrepreneur.
          
During the 18th and 19th century entrepreneurs are not always associated
with management. They organized and managed an enterprise for
19th and 20th personal gain. Andrew Carnegie who came from a poor family is famous
Century in his American Steel Industry that became wonders of the industrial
world.
 During in the middle of 20 th century the functions of entrepreneurs is to
recreate or revolutionize the production through intervention. Edward
Middle 20th Harriman who reorganized the railroad in the United States and John
Century Morgan who developed large banking house bt reorganizing and
financing the nation’s industries where famous in this period through
their innovation.

During the 21st century entrepreneurs are known as a hero for Free
Enterprise market they created many products and services and willing to
21st Century face the risk in the business.

            

            The Future of entrepreneurship will be growth with development of technologies.

The modern technologies and internet have improved the ways of conduct business.
Entrepreneurs now have the luxury of putting their business idea into action through the
click of button.

2. Describe the challenges and opportunities of the Filipino Entrepreneurs.

CHALLENGES:
 Lack of funding
 Cash flow concerns
 Lack of management skills
OPPORTUNITIES