Chapter 1 ORIGIN AND NATURE OF ENTREPRENEURSHIP Introduction The concept of Entrepreneurship has gone through an evolution or process that commenced with providing service in a feudalistic society. Even in its early beginnings or inception, there was no indication that Entrepreneurship or Entrepreneurism was not purely a business activity with profit as the primary motive or purpose. From the service orientation, it has evolved into a kind of endeavor still without definite bias as to whether an entrepreneur exists in the business that is purely meant for personal gain (profit) or simply providing services in general. Nor was there also any categorization that an entrepreneur is the capitalist or the business owner and at the same time, the manager himself, or that entrepreneurship means small-scale business. Moreover, an entrepreneur is an inventor and developer of ideas, change agent, creative, persistent, and a class of his own having his own value system. Entrepreneurship is now prevalent in various professions from education, engineering, law, and other areas of orientation, including those who never had.any formal schooling in business education. Further characterization of Entrepreneurship is that it is an approach and a dynamic process. The approach of an entrepreneur is focused on growth and expansion orientation. As a dynamic process, an entrepreneur goes through a stage that is nurtured by his immediate environment and the kind of scenarios and experiences he has gone through. Entrepreneurship is a culture that is not a fad, but a very promising career option that can Prepare a person for a prosperous future and a nation that is progressive and prosperous as well. identify the origin and nature of Entrepreneurship distinguish newness from innovation ‘enumerate the broad impact of Entrepreneurship upon the economy determine contemporary views on Entrepreneurshipuser ano NATURE OF ENTREPRENEURSHIP ‘Tone mora enrpreae, nich set ED oe ego of ee mae ee sear teaeny iceeioeat ean ea Soumpasans? Se cecadescribes an entrepreneur in 8 Broader perspective by Soe Secon iret oe a ge Ct cay tenor cee isc ee ‘saan sree cs husnsanan, on sanenree opps ae. ESS ton ere arte bucrenman, he Sects sa sn tet ast oe rece ston races ob tes oe srt sneee fess be Nato of he Uae of nae dines cowpea ep ecbleca steam terres ems am er et Shape ee id ser mvt on ‘Sees ieietne oe ne nea teehee + Sept diy ereae etiam ipebeeceaties oerremet nae cend Scene at Satan eee ‘Noel, hte Contensoay Eneprenciy mesa antes: hese swan merece ‘Renate eae ee 20 centr fe eeprea ‘SSS repener eas ou he ote ‘Gosies an orgnton opuraee San, erent cess tesa euros in Lentroproneurahip ea process and approach> crm: ee oe fens ‘wht ere c estar ei, anil Ben re ‘Societe econ abate Sse cal oem te eer Sao Re ncerene samy ties Sco mea ree an Sipe roe ese nh trl oe pret aarti roan exerting, Searss fe es fr erage, Signa ape, ener ste ie ees Peta a Seorcamai toncu hears SUISSE tations Gat os nena acs ethertie ae ee SSeS ce ey esvy te city fr Entrepreneurs Scoala et he sem fer oman ‘terres aon Sante formal ang nn ora 805 Peragpctas aves sa comune ok sean an eer, hong we BOS remap ml my 9 uP ‘Seco-economic bench rom Entrepreneurship Se Stowe mst orci sit mamma gemem ene Etcwrss ireoacs seraganree Bie ences ‘Scerynovaen dak td we non vr oveprona hrc sna rants sera ea ‘oo cetera ence ari + somrape sae : SEIS seit se tactana ‘iota wens Somory eg cana aes‘rest of ana recacait over ie cs ‘sf compared to thse she ne Srgoyes, he eae SSEseeet onan yr cry sre "Glance enero eo nas ‘Serre aceon wc ng * ‘chances are that equitable dstrbuton neon wae | Apply your knowledge: m Thus etenanin not oe? 2 yest ero nnd eg? 5 vmataatechogiis emiereinte natin wosiaveoner oa" ‘ sacar teeter \