ENTREPRENEURIA

MANAGEMENT
5. Entrepreneurship
Refers to the economic
activity of a person who starts,
manages, and assumes the risk
of a business.
Entrepreneur
the person who undertakes
entrepreneurial activities
The entrepreneur identifies:
• an economic need
• considers offering a business solution
• proceeds to assemble the resources required
• assumes the risk of either succeeding or failing
3. Economic Development
is a scheme aimed at
improving the living standards
of the nation’s citizenry.
 Elements of Economic Development

• Human Resources
• 14. labor supply, 15. education, discipline, 19. motivation
• Natural Resources
• land, 11. minerals, 16. fuel, climate
• Capital Formation
• 12. machines, 17. factories, roads
• Technology
• 18. science, 13. engineering, management, 20. entrepreneurship
 TASKS of Entrepreneur
• Products and services for customers and
producers
• Employment
• Taxes
• Demand for suppliers’ products and services
• Training facilities for future entrepreneurs