SOURCES OF

ENTREPRENEURSHIP
 Changes in the Environment
Technological discovery and
advancement
Government’s trust, programs and
policies
People’s interest
Past experience
CHANGES in the
ENVIRONMENT
 Entrepreneurial ideas arise from the
changes that happen in the external
environment with entrepreneurial implications.
Not everyone welcomes changes in the
external environment.
However, a person with an
entrepreneurial drive views these changes
positively. He / She determines what business
opportunities they may provide.
 The term EXTERNAL
ENVIRONMENT refers to the
physical environment, societal
environment, and industry
environment where the business
operates.
 PHYSICAL ENVIRONMENT
includes:
- climate
- natural resources
- wildlife
 SOCIETAL ENVIRONMENT
includes:
- economic forces
- sociocultural forces
- political forces
- technological environment
 SOCIETAL ENVIRONMENT
includes:
- government - customers
- competitors - creditors
- suppliers - employees
 TECHNOLOGICAL
Discovery and Advancement
 Discovery and advancement in the use of
technology are another good source of
entrepreneurial ideas and opportunities. Most people
welcome technological discoveries and
advancements but cannot identify or determine
entrepreneurial opportunities stemming from them.
On the other hand, a person with
entrepreneurial interest looks at the possibility of
business opportunities in any new discovery or
advancement of technology.
 GOVERNMENT’S
Trust, Programs & Policies
 The priorities, projects, programs, and
policies of the government are also good
sources of entrepreneurial ideas. The
government refers to the local government
(municipal, city or provincial ) or the national
government and its branches.
 The programs and agenda of the
Philippine government intuitively address the
needs of the Filipino people. There are also
instances when the government responds to
the call of international agencies or the world
market.
Whenever there are changes in the
policies and programs of the government, new
entrepreneurial ideas are likely born.
PEOPLE’S
Interest
 The interests, hobbies, and preferences
of people are a rich source of entrepreneurial
ideas.
For example: the increasing number of internet
cafe at present could be attributed to the strong
attachment of young people to computers. The
arise of amusement parks, rightsports, and
nature farms could be a response to the need of
people for fun and relaxation.
 PAST
Experience
 Past experiences and exposures
are also a good source of
entrepreneurial ideas. The expertise
and skills developed by a person who
has worked in a particular field may
lead to the opening of a related
business enterprise.
HAVE A NICE DAY!
Thank You .....